Brex Capital Is Expelled by Financial Commission Two Months After Rebrand

Brex Capital has lost its Financial Commission membership after repeatedly failing to comply with the organisation’s rules and guidelines.

According to the Financial Commission’s announcement, the expulsion took effect on 19 October and applies to the broker under both its current name and its former name, QRS Global.

Clients Lose Access to the Compensation Fund

The decision ends a membership that began in September 2025, when the broker still operated as QRS Global. The Commission did not specify which rules or guidelines the broker had breached.

Brex Capital continued to promote its Financial Commission membership after the rebrand, telling clients they could seek independent dispute resolution and compensation of up to €20,000 per complaint. The expulsion removes a benefit the broker had continued to advertise under its new name.

Brex Capital’s Links to QRS Global

Brex Capital is an Asia-focused CFD and forex broker. It adopted its current name in August 2026 after what the company described as an acquisition by “an international investment group.”

At the time, new CEO Sophie Squillacioti told Finance Magnates that ownership and the brand had changed, while QRS Global’s trading infrastructure, services and operations continued.

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Existing QRS Global clients could continue using their accounts under the Brex Capital brand without registering again, a company representative told Finance Magnates. The QRS website also redirected visitors to the new broker.

Brex Capital’s website says its South African entity is authorised by the Financial Sector Conduct Authority (FSCA) and lists a licence from the Mwali International Services Authority (MISA) in Comoros under number T2023349. However, MISA’s register still names QRS GLOBAL LLC as the holder of that licence and marks it active.

The Financial Commission has not linked the expulsion to the change of ownership or the licence listing. Its decision concerns the broker’s access to the Commission’s dispute-resolution and compensation scheme, not the status of its regulatory licences.