Notice - Public Warning - QFEX Bermuda Limited (2025-11-12)

Summary

This is a public warning notice issued by the Bermuda Monetary Authority (BMA) concerning QFEX Bermuda Limited (QFEX), an entity operating a website that falsely claimed to hold a BMA licence. The Authority confirms QFEX is neither licensed nor registered with it.

• False claim: QFEX's website terms and conditions falsely stated it had been issued a licence by the BMA.
• Public solicitation: The website invited the public to join a waitlist, treated as a binding agreement, and asked users to upload identification for third-party verification.
• Remedial action: After BMA raised the false statements with QFEX, QFEX removed public access to the website.
• Warning list: QFEX has been added to the BMA's public warning list of unauthorised firms and individuals, accessible at www.bma.bm/warning-list.

The notice is informational and serves to warn the public rather than impose obligations on regulated entities. The BMA reiterates that dealing with unregulated entities, particularly those making false representations, carries increased risk for the public.