SEC Facebook

The Securities and Exchange Commission (“Commission”) has received information that
individuals or group of persons of person representing
QFX MARKETS LIMITED/QFX TRADE
LIMITED/QFX
TECHNOLOGY SERVICES/
HEART CAPITAL LIMITED
have been soliciting
investment
s
from the public.
Based on information gathered by the Commission,
QFX MARKETS LIMITED/QFX
TRADE LIMITED/QFX TECHNOLOGY SERVICES/
HEART CAPITAL LIMITED
claim
s
to
being a
prime broker house and being promoted by an assumed identity under the name of
“Jordan,
”
the same person who marketed
TRUST LEGACY INTERNATIONAL,
an entity
which became
subject of the Commission’s Advisory
dated 6 January 2022.
It appears other than its public offering in a number of social media pages,
QFX MARKETS
LIMITED/QFX TRADE LIMITED/QFX TECHNOLOGY SERVICES/
HEART CAPITAL LIMITED
appears to operate seven (7) websites to proliferate its investment
–
taking activities, namely:
1)
qfxmarket.com 2) theqfxmarket.com; 3) qfxmarkets.com; 4)
http://bot.qfx9.com
; 5)
https://qfx9.com; 6) https://qfx9.biz/ and 7)
https://qfxtrades.com/index.php.
Posts reviewed by the Commissions showed that,
QFX MARKETS LIMITED/QFX TRADE
LIMITED/QF
X TECHNOLOGY SERVICES/
HEART CAPITAL LIMITED
claims that it is operating
in different countries and its headquarters are in
1) London; 2) India and 3) Dubai. Further, it
states
different addresses namely: 1) 101 West Broadway, San Diego CA, 92101; 2)
2501,
25th
Floor Regal Plaza B
ay, 2501, Dubai; and 3) 21
Great Smith Street, London, United Kingdom
SW1P3BU.
It appears that these entities are being promoted by a Filipino operator hiding his/her
identity under the account name “RB Trader.” RB Trader targets Filipinos by inviting them to
attend
QFX
MARKETS
LIMITED/QFX
TRADE
LIMITED/QFX
TECHNOLOGY
SERVICES/
HEART
CAPITAL
Zoom
meetings and inviting and sharing its scheme.
QFX
MARKETS
LIMITED/QFX
TRADE
LIMITED/QFX
TECHNOLOGY
SERVICES/
HEART CAPITAL
claims that for a
one
–
year subscription of $100 dollars
, the
prospective investor can use the product called “
QFX FX
BOT PRO
,” a fully automated Forex
Trade
–
in robot. This product enables/assures investors up to a
50% monthly profit
in their
investment.
Depending on the plans/categories: 1) Standard; 2) Classic; 3) Premium, it promises
investors that
for an investment ranging from
$100 up to $2,000 and above, an investor can
expects monthly profit ranging from 15% up to 50%.
All the investment and monthly trade profit share can be viewed in the MetaTrader
–
5
platform.
According to the video,
all monthly trade profit share
s which are
distributed twice a
month will be distributed in 70
–
30 ratio (70% to investor while 30%
goes
to the community).
QFX
MARKETS
LIMITED/QFX
TRADE
LIMITED/QFX
TECHNOLOGY
SERVICES/
HEART CAPITAL LIMITED
further enticed
the investors/prospective clients by
promising additional profits by rewarding those who promote
QFX MARKETS LIMITED/QFX
TRADE LIMITED/QFX TECHNOLOGY SERVICES/
HEART CAPITAL LIMITED’
s
scheme
through its different ways to earn, namely: 1) referral income (2
0% for each referral); 2) rank
and rewards income; 3) club income; and 4) Trading profit income.
The categories/plans offered by
QFX MARKETS LIMITED /QFX TRADE LIMITED/QFX
TECHNOLOGY SERVICES/
HEART CAPITAL LIMITED
clearly falls under the definition of
investment contract which is mandated
by Republic Act No. 8799 or the Securities Regulation
Code of the Philippines be registered with the Commission before
these
securities are offered to
the public.
QFX MARKETS LIMITED /QFX
TRADE
LIMITED/QFX
TECHNOLOGY
SERVICES/
HEART CAPITAL LIMITED
are not
authorized
to solicit investments from the public
as these entities are
NOT REGISTERED
with the Commission and cannot therefore secure prior
registration and/or license to solic
it investments from the Commission as prescribed under
Section 8 of the Securities Regulation Code.
Moreover, the Commission currently does not allow the registration of Foreign Exchange
(FOREX) in the nature of Commodity/Financial Futures Contract, Contracts for Differences
(CFDs) and other similar highly
–
volatile and risky derivatives nor Commodity Fut
ures
Exchanges and commodity merchants/brokers, as the public trading thereof and the pertinent
rules governing these securities remain suspended pursuant to Section 11 of the 2015
Implementing Rules and Regulation of the SRC.
In other words, since the C
ommission has not
yet registered a commodity futures exchange, it follows that no commodity futures merchant
shall likewise be registered and allowed to solicit investments
in the Philippines
in commodity
futures contracts, otherwise known as leveraged fo
reign currency contracts or
margin trading.
Accordingly, those who invite or recruit other people to join or invest in this venture or
offer investment contracts or securities to the public may be held criminally liable under Section
28 of the SRC penaliz
ed with a maximum fine of Five Million Pesos (P 5,000,000.00) or
imprisonment of Twenty One (21) years or both pursuant to Section 73 of the SRC (
SEC vs.
Oudine Santos
G.R. No. 195542, 19 March 2014).
Thus, in dealing with these unregistered entities, th
e Commission reiterates its Advisory
entitled: “Dealing with Non
–
Registered Foreign Entities Organizations and Corporations with
link address at https://www.sec.gov.ph/advisories
–
2021/sec
–
advisory
–
against
–
dealing
–
with
–
non
–
registered
–
foreign
–
entities
–
organi
zations
–
and
–
corporations/.
The public is hereby warned that such investment schemes are considered as securities
subject to the regulatory authority of this Commission. The offering and selling of securities to
the public without a permit or license is
a violation of Section 8.1. of the Securities Regulation
Code.
In view thereof, the public is hereby advised to exercise caution before investing in these
kinds of activities and to take the necessary precautions in dealing
QFX MARKETS LIMITED /QFX TRADE L
IMITED/QFX TECHNOLOGY SERVICES/
HEART CAPITAL LIMITED
and its
representatives. In view thereof, the public is further advised
NOT TO INVEST
or
TO
STOP INVESTING
in any investment scheme being offered by aforesaid entities/individuals.
Should you have any information regarding the operation of the subject entity, please
call the Enforcement and Investor Protection Department at telephone numbers 8818
–
6047 or
send your report to the EIPD at
epd@sec.go
v.ph
.
For the guidance of the public.
Pasay City, 03 February 2022