Home -

Main body -

WikiFX Express

ATFX

Alert: Bybit and BitForex Face Hong Kong Regulatory Scrutiny

WikiFX | 2024-03-15 16:49

Abstract：Hong Kong’s SFC issues cautionary statement on unlicensed cryptocurrency exchanges that pose high risks to investors.

The Securities and Futures Commission (SFC) of Hong Kong has released a cautionary statement addressing investors' concerns about Bybit and its offerings.

The SFC emphasized that Bybit lacks regulatory approval, raising red flags regarding the safety of investments associated with this cryptocurrency exchange. Specifically, the SFC identified 11 products offered by Bybit, including futures contracts, options, leveraged tokens, and other crypto-related services, as potentially risky for investors in Hong Kong due to the absence of regulatory authorization.

In Hong Kong, transactions involving cryptocurrency-related products fall under regulated activities, requiring approval from the SFC. The regulator reiterated its commitment to taking action against unlicensed entities, stressing the importance of investor awareness and caution in such matters.

The SFC warned investors about the risks of engaging with unlicensed entities, highlighting the possibility of losing their entire investment if the entity ceases operations, declares bankruptcy, or engages in fraudulent activities. Pursuing legal recourse against such entities, especially those without a presence in Hong Kong, could prove challenging and may offer limited options for restitution.

In addition to addressing concerns regarding Bybit, the SFC has initiated an investigation into BitForex, another cryptocurrency exchange, following suspicions of fraud. BitForex's sudden disappearance on February 23, coupled with reports of $57 million disappearing from its hot wallets, has raised alarm within the cryptocurrency community.

In response to BitForex's offline status and suspicions of fraudulent activities, the SFC included BitForex in its warning list for operating without the necessary licensing or registration as a Virtual Asset Trading Platform in Hong Kong. Subsequently, the SFC, in collaboration with the Hong Kong Police Force, has taken steps to block BitForex's website and social media channels as part of a broader effort to protect investors from potential scams associated with unlicensed cryptocurrency exchanges.

WikiFX is a renowned global forex broker query platform that hosts verified information on over 50,000 brokers worldwide. Download the free WikiFX app and conduct thorough due diligence on brokers to ensure that you are trading with the right and safe broker. Remember, survival and capital protection are the first rules of trading at all times.

Cryptocurrency Blockchain Breaking News Crypto Market

Related broker

Not Regulated

BitForex

Company name：BitForex

Score

1.55

Website：https://www.bitforex.com/

5-10 years | Questionable Regulatory License | High Potential Risk |

Score

1.55

XPO Exposure: Investigating an Infamous Scam Allegation Worth Over $420 Million

XPO, a Belize-based multi-asset broker, has been in the news lately for the wrong reasons. These include the infamous allegations from 450K people towards the end of 2025 in India. The collective siphoned amount goes up to $420 million. According to news reports, the trading platform is still active, making it extremely important for traders to adopt extreme caution. The reviews shared by the users on WikiFX are not encouraging either. We have covered the perils associated with this brokerage entity holistically in this XPO review article. We will approach by outlining the company details before sharing the user allegations. Let’s begin!

Original 2026-04-16 21:50

Is Trader's Way Safe or Scam: A Complete Review of User Experiences

When looking for a broker, you need to ask one important question: Will my capital be safe? For Trader's Way, this question comes up on many forums and review websites. A quick search shows mixed results - some people praise it highly, while others make serious accusations. This makes it hard to know what's true. Is Trader's Way a real trading platform or a risky choice you should avoid? This article will give you clear answers. We won't give you a basic review. Instead, we'll look carefully at real data that matters for keeping your capital safe. Our research focuses on two main areas: whether the broker follows proper rules and what real users consistently say about it. We'll use information from WikiFX, a global platform that checks broker regulations. WikiFX gives Trader's Way a very low score - a major warning sign that starts our investigation.

Original 2026-04-16 19:37

Is Trader's Way Regulated? The 2026 Truth About its Licenses and Corporate Warnings

When choosing a forex broker, one question matters most: is it regulated? For any trader doing research, this is the most important starting point. The clear answer about Trader's Way, based on all available public information and official records as of 2026, is that it is an unregulated broker. While the company behind the brand, TW Corp LLC, has a business registration, this is not the same as a financial license. This difference is the most important thing for any trader to understand, because it directly affects the safety of your capital, fair trading, and ways to solve problems. The main point from any investigation into the broker's status is this: Trader's Way operates without oversight from any major financial authority. This fact affects every other part of the broker's risk level.

Original 2026-04-15 17:40

Trader's Way Legitimacy Check: Is This a Fake Broker or a Legitimate Trading Partner?

When looking into a forex broker, the most important question is always about safety. For many traders asking, "Is Trader's Way legit?" The answer needs careful research based on facts. The most important finding from our research is that Trader's Way works as a broker without proper oversight. This fact alone is a major worry for any trader, no matter how much experience it has. Making this problem worse is the fact that official financial watchdogs have warned against them, and many users have made serious complaints that question whether the broker is honest and raise the possibility of it being a Trader's Way scam. While the broker's website may show attractive features such as high leverage and low minimum deposits, this article will examine the available information. We will look past marketing claims to give you a clear, fact-based view, helping you make a truly informed decision about whether this is a partner you can trust with your funds.

Original 2026-04-15 14:55