QFX Markets Limited/QFX Trade Limited/QFX Technology Services/Heart Capital Limited

February 3, 2022 ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT SEC ADVISORY The Securities and Exchange Commission ("Commission") has received information that individuals or group of persons representing QFX MARKETS LIMITED/QFX TRADE LIMITED/QFX TECHNOLOGY SERVICES/HEART CAPITAL LIMITED have been soliciting investments from the public. Based on information gathered by the Commission, QFX MARKETS LIMITED/QFX TRADE LIMITED/QFX TECHNOLOGY SERVICES/HEART CAPITAL LIMITED claims 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. IDTSEH Posts reviewed by the Commissions showed that, QFX MARKETS LIMITED/QFX TRADE LIMITED/QFX 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 Bay, 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 LIMITED Zoom meetings and inviting and sharing its scheme. QFX MARKETS LIMITED/QFX TRADE LIMITED/QFX TECHNOLOGY SERVICES/HEART CAPITAL LIMITED 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 shares 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 (20% for each referral); 2) rank and rewards income; 3) club income; and 4) Trading profit income. SICDAa 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 solicit 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 Futures 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 Regulations of the SRC. In other words, since the Commission 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 foreign 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 penalized with a maximum fine of Five Million Pesos (P5,000,000.00) 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, the 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-organizations-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 LIMITED/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 [emailprotected] . For the guidance of the public. Pasay City, February 3, 2022.