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Anybody know Quantum XXL?

Discussion in 'Has anyone heard of?' started by chartoasis, Dec 29, 2011.

  1. chartoasis

    chartoasis Recruit

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    Dear Members!
    Does anybody know anything about the company Quantum XXL?
    The funny thing about it is, that they claim themselves to be founded in Hong-Kong, but in their website they tell more about the Hungarian tax rules than about any other country's. Actually they seem to be very prepared about Hungarian things.
    (I run 2 investments related websites, one in Hungarian, one in English.)
    Google finds almost nothing about it in English. But it seems quite well known in Hungarian.
    Best regards:
    chartoasis
     
  2. Pharaoh

    Pharaoh Colonel

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    What's their website?
     
  3. chartoasis

    chartoasis Recruit

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    Hi there,
    sorry I forgot the link: QuantumXXL
    Any opinions are welcome!
    Best regards:
    chartoasis
     
  4. Pharaoh

    Pharaoh Colonel

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    They appear to require you to sign up naming them as an IB. That would mean that they get paid part of the spread, win or lose.

    They require you to sign up under an affiliate. They also offer an affiliate program, for a fee.

    Ask them for investor access to a live account that's been using this system for at least 6 months. If they claim worries that you could copy trades, tell them to give you access on Friday afternoon and to change the password before the market opens on Sunday. If they decline, that's all the information you need to take your money and run the other way.
     
  5. mrbold

    mrbold Recruit

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    QuantumXXL

    Hi, I'm a QuantumXXL client and affiliate partner too, from Hungary.
    I have an own account since last march and very satisfied.
    Do you need any informations that you can't find on the official site?
     
  6. aSzabe

    aSzabe Recruit

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    Hi!
    A lot of people gave a chanche for this miracle. If its true, the company collected about 40-45 million Euros....and they lost a high % of it.
    As the forex experts thought, the floating pips were terrible. On a weekend the broker showed the equity, and it was the last moment. The people lost 30-80% of the accounts.
    Now the police investigations on it, but with an offshore from Hongkong.....
     
  7. totalfxtrader

    totalfxtrader Recruit

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    Press release: Quantum XXL managing portfolios without a valid authority licence. A fine of HUF70 million imposed and the pursuit of the unlicensed portfolio management activity banned.

    The legal predecessor authority of the National Bank of Hungary has imposed a fine of HUF 70 million on the Hong Kong-based Quantum XXL Ltd. for the unlicensed provision of investment services and banned the company from the pursuit of the unlicensed portfolio management activity.

    The legal predecessor supervisory authority of the National Bank of Hungary (NBH) launched a market surveillance proceeding in April 2012 in response to customer complaints against the company concluding FOREX transactions (involving currency pairs) in the interbank market, using automated programmes (software) and soliciting customers under a multi-level marketing scheme. The investigation has established that, contrary to statements by representatives of the company, Quantum XXL Ltd. did not confine its activity to advertising and promoting the use of FOREX software and providing such software for its customers, but it also carried out the pool management of the individual accounts of its customers (obtaining authorisation to do so by persuading investors to complete a document).

    Quantum XXL Ltd. provided investment services for close to 3,500 domestic customers through the intermediation of a Cyprus-based third-party service provider in respect of the USD-denominated principal amounts deposited by customers. The applicable law stipulates that the provision of investment services be subject to state supervision and grants permission for the pursuit of such activity even for investment firms and credit institutions holding an authority licence under rather strict terms and conditions.
     

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