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Effective traffic sign recognition algorithms can assist drivers or automatic driving systems in detecting and recognizing traffic signs in real-time. This paper proposes a multiscale recognition method for traffic signs based on the Gaussian Mixture Model (GMM) and Category Quality Focal Loss (CQFL) to enhance recognition speed and recognition accuracy. Specifically, GMM is utilized to cluster the prior anchors, which are in favor of reducing the clustering error. Meanwhile, considering the most common issue in supervised learning (i.e., the imbalance of data set categories), the category proportion factor is introduced into Quality Focal Loss, which is referred to as CQFL. Furthermore, a five-scale recognition network with a prior anchor allocation strategy is designed for small target objects i.e., traffic sign recognition. Combining five existing tricks, the best speed and accuracy tradeoff on our data set (40.1% mAP and 15 FPS on a single 1080Ti GPU), can be achieved. The experimental results demonstrate that the proposed method is superior to the existing mainstream algorithms, in terms of recognition accuracy and recognition speed. [ABSTRACT FROM AUTHOR]