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BYFX Global -

Score

1.56 /10
Danger

BYFX Global

Cayman Islands

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

Suspicious Overrun

High potential risk

https://www.byfx.com/en

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Comparison

Quantity 3

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index7.35

Risk Management Index0.00

Software Index4.00

License Index0.00

Open Account
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

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Company Name

BYFX Global Co., Limited.

Company Abbreviation

BYFX Global

Platform registered country and region

Cayman Islands

Company website

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

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Warning: Low score, please stay away! 3
Previous Detection : 2024-12-28
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The Cayman IslandsCIMA regulation (license number: 1458866) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

Exposure

3 pieces of exposure in total
Pyramid scheme complaint
Expose
Scam

Unable to log in to the backstage of BYFX Global .

I couldn’t log in to the backstage. BYFX Global doesn’t reply to my email.

ZABUQI
2020-03-28 21:54
Severe Slippage

The profits became losses because of severe slippage.

The slippage of 3~5 pips is normal in gold trading.It is more exaggerated in forex industry with a dozen of pips.I made a loss of several hundred thousand of yuan.

ATU
2019-11-05 18:00
Severe Slippage

When it came to the cocking market, the platform closed the market, leading to forced liquidation. Can I continue to trade on the platform with slippage?

When it came to the cocking market, the platform closed the market, leading to forced liquidation. I deposited 119826 and suffered a loss of 88534. Can I continue to trade on the platform with slippage?

ATU
2020-04-20 12:01
BYFX Global · Company summary

Note: BYFX Global's official website: https://www.byfx.com/en/ is normally inaccessible.

BYFX Global Information

BYFX Global is a brokerage company registered in the United States. While the broker's official website has been closed, so traders cannot obtain more security information.

Is BYFX Global Legit?

BYFX Global is authorized and regulated by the Cayman Islands Monetary Authority(CIMA), the current status is Suspicious Clone, which will increase trading non-compliance and reduce traders investment security. Caution is advised when dealing with the company.

Is BYFX Global Legit?
Is BYFX Global Legit?

Downsides of BYFX Global

  • Unavailable Website

The website of BYFX Global is inaccessible, raising concerns about its reliability and accessibility.

  • Lack of Transparency

Since BYFX Global does not explain more transaction information, especially regarding fees and services, this will bring huge risks and reduce transaction security.

  • Regulatory Concerns

The CIMA regulates BYFX Global. However, the Suspicious Clone status is less safe than a regulated one.

Negative BYFX Global Reviews on WikiFX

On WikiFX, “Exposure” is posted as a word of mouth received from users.

Traders must review the information and assess risks before trading on unregulated platforms. Please consult our platform for related details. Report fraudulent brokers in our Exposure section and our team will work to resolve any issues you encounter.

Negative BYFX Global Reviews on WikiFX

Currently, there are 3 pieces of BYFX Global exposures about Severe Slippage and Scams.

Exposure. Severe Slippage/Scams

ClassificationSevere Slippage/Scams
Date2019-2020
Post CountryHong Kong, China

You may visit: https://www.wikifx.com/en/comments/detail/202004201742253358.html https://www.wikifx.com/en/comments/detail/201911059502125035.html https://www.wikifx.com/en/comments/detail/202003284022886372.html.

Conclusion

BYFX Global Since the official website cannot be opened, traders cannot get more information about security services. In addition, the unregulated status indicates that the broker's trading risks are high. It is advisable to choose regulated brokers with transparent operationsto ensure the safety of your investments and compliance with legal standards. Traders can learn more about other brokers through WikiFX. Information improves transaction security.

User Reviews

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User comment

3

Comments

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哎呦
more than one year
Mi sugerencia es que si es nuevo en el mercado de divisas, es mejor encontrar una empresa que brinde protección de saldo negativo, de lo contrario, incluso si el depósito es muy bajo, como BYFX solo necesita 100 dólares estadounidenses, aún puede perder mil dólares! ! Y absolutamente no trate con empresas que no tienen licencias reglamentarias.
Mi sugerencia es que si es nuevo en el mercado de divisas, es mejor encontrar una empresa que brinde protección de saldo negativo, de lo contrario, incluso si el depósito es muy bajo, como BYFX solo necesita 100 dólares estadounidenses, aún puede perder mil dólares! ! Y absolutamente no trate con empresas que no tienen licencias reglamentarias.
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2022-11-30 18:05
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大D
more than one year
What the hell? The official website of this broker is no longer accessible. When I enter the URL, the OxPay login interface appears...
What the hell? The official website of this broker is no longer accessible. When I enter the URL, the OxPay login interface appears...
Translate to English
2022-11-28 13:48
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