Thai CFD broker QRS Global has relaunched as Brex Capital following acquisition by an undisclosed international investment group, despite ongoing scrutiny over an alleged forex trading scandal. The rebranding comes months after Thailand’s Department of Special Investigation formally accepted a fraud case in June involving QRS and other brokers, with arrests including the CEO of QRS Education Co Ltd on charges ranging from unlicensed brokerage operations to money laundering.
New CEO Sophie Squillacioti confirmed all trading infrastructure and client accounts remain unchanged under the new ownership, with existing customers able to continue trading without re-registration. Both entities operate under Comoros registration, while Brex Capital lists a South African FSP license identical to another broker, Ruby FX. The scandal involved high-profile figures including a Thai parliament member and an actor connected to promotional activities.
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Traders with QRS accounts should conduct immediate due diligence on the new ownership structure and regulatory standing before continuing operations, given the unresolved legal proceedings and undisclosed acquirer identity.
Source: Finance Magnates