ANSWER Quick Pay is an unlicensed broker that we advise against trading with, despite the seemingly attractive deals it offers.Quick Pay's claim that it is operated by QuickPay limited, registered with a New Zealand registration number of 7653998, is denied by the New Zealand Financial Markets Authority (FMA). As stated in the warning issued by the FMA, Quick Pay is falsely claiming to be a New Zealand registered company which has confirmed that it is not connected with Quick Pay and their website. You can access the full warning here.Regarding your question, Quick Pay is a scam since it uses details of legitimate firms to appear genuine and evades effective regulation. Any offering of financial services or products by this broker is illegal. Investors are strongly suggested to avoid dealing with unlicensed brokers like Quick Pay, as they may pose a risk to one's investments or personal details. To avoid such risks, we advise investors to opt for fully regulated brokers only.
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