QMMFX

QMMFX broker is a brokerage that has been operating since 2021, and the first thing an Iranian user sees is its Persian-language website and a Cent account with a minimum deposit of $1. In this overview, we review QMMFX's license, accounts, platform and risks based on Teagle's data so you know what kind of broker you are dealing with before you deposit.

What kind of broker is QMMFX?

QMMFX provides its services through registration in Anjouan (Union of the Comoros), although the broker's country in its Teagle profile is listed as Cyprus. The broker's trading instruments are forex, stocks and metals, and all accounts are offered on MetaTrader 5. Teagle Eye records its operating history as about 5 years. A Cent account, an ECN account, Expert Advisor support, an Islamic account and phone trading are among the features listed for this broker in Teagle's data.

QMMFX licenses and credibility

According to Teagle's latest review, QMMFX holds one active license:

• AOFA Anjouan (Anjouan Offshore Finance Authority) under number 15620 (active).

This is an offshore and very weak license; in answer to the question "Is QMMFX legit?", Teagle has said this license effectively adds no credibility to the broker, and the overview also states that QMMFX is not supervised by any reputable regulator. This means there is no legal guarantee protecting Iranian users' accounts, and according to Teagle's expert, negative balance protection is not offered either. To better understand this situation, read the article the difference between offshore and onshore brokers and the guide broker regulation tiers .

Does QMMFX serve Iranians?

Yes. QMMFX serves Iranians, has a Persian website, and Persian support is also recorded for it in Teagle's data. However, Teagle's expert has said that live support is not available and that information on some pages of the website is contradictory.

QMMFX trading accounts

This broker offers five accounts on MetaTrader 5:

• Cent account: minimum deposit $1, fixed spread of 2.5 pips, no commission, 1:500 leverage and an Islamic version;
• Standard account: minimum deposit $10, fixed spread of 1.5 pips, no commission, 1:500 leverage and an Islamic version;
• ECN account: minimum deposit $100, floating spread of 3 pips, $3 commission and 1:400 leverage;
• Crypto account: minimum deposit $1000, raw spread (Raw), $2.5 commission and 1:400 leverage;
• Diamond account: minimum deposit $100000, zero spread, $5 commission and 1:10 leverage.

The stop-out level differs across accounts: 100% in the Cent and Diamond accounts, 50% in Standard, 30% in ECN and 20% in Crypto. A 100% stop-out means positions are closed very early. The combination of a 3-pip spread plus commission in the ECN account is also unusual for this type of account and is probably one of the website's contradictions; check the conditions in your client area before depositing. Requote and margin call details are not recorded. To learn about small accounts, see the article best brokers for cent accounts and, to compare accounts, an introduction to ECN accounts .

QMMFX platforms and services

The only recorded platform is MetaTrader 5, and according to Teagle's data only its Windows version can be downloaded from the broker's website. The broker's services include PAMM, education, an economic calendar and calculators; copy trading, VPS or bonuses are not on its list of services.

Deposits and withdrawals at QMMFX

The recorded payment methods are cryptocurrency, bank wire, e-wallets and credit cards, and the minimum deposit is stated as $1. Teagle does not have a table of this broker's fees, minimum withdrawal or deposit and withdrawal processing times; so ask the broker about these in writing before depositing, and test withdrawals with a small amount.

QMMFX score and risk on Teagle

QMMFX's final score on Teagle is 1.07 out of 5, which comes from only one source, WikiFX, and no reviews from Teagle users have been recorded yet. The Teagle Eye risk index for this broker is 69 out of 100, in the "High risk" category, due to its weak offshore license and very low credibility score. Follow its status on the Teagle ranking warning list .

Pros and cons of QMMFX

• Pro: Persian website and support, and services for Iranians
• Pro: very low minimum deposit ($1) on the Cent account
• Pro: MetaTrader 5, economic calendar and calculators
• Con: no reputable license or regulation, and no negative balance protection
• Con: no live support
• Con: contradictory information on the website and a very low score on WikiFX

Who is QMMFX suitable for?

According to Teagle, QMMFX is only worth considering for Iranian traders with little capital and for limited or trial activity, and it is not suitable for those who care about regulation. Before choosing, put it side by side with a similar option in the QMMFX vs Forex City Pro comparison .

Conclusion

QMMFX is easy to access, but with a weak license, high risk and incomplete information, using it is not without risk. Only trade with limited capital, check the account conditions in your client area, make a test withdrawal before doing anything else, and check for new warnings on the risk warning page .