NYBOT Global Ltd is a forex trading platform that provides various financial instruments to individual traders. But with the increasing prevalence of online trading scams in today’s environment, it’s imperative to analyze the authenticity of such brokers. This review brings some red flags concerning NYBOT Global Ltd to light based on regulatory reports, investor experiences, and its online presence.
Lack of Regulation and Transparency
NYBOT Global Ltd claims it’s a UK-registered and Hong Kong-regulated company. Yet, a careful search of regulatory databases held by respective authorities goes in vain. There is no mention or record of the company’s being registered with Hong Kong’s Securities and Futures Commission (SFC) or the UK Financial Conduct Authority (FCA). Any firm dealing in financial services in these territories is supposed to be appropriately licensed. Absence of licenses makes serious allegations of illicit operations possible.
Red Flags and User Concerns
- No regulatory supervision
- No traceable contact or office information
- Doubtful assertions of UK and Hong Kong regulation
- An ill-designed website with ambiguous content
- Non-appearance in FCA and SFC registries
These red flags indicate that NYBOT Global Ltd may be attracting unsuspecting investors with high returns, only to disappear with the deposits they have made.
Questions And Answers About NYBOT Global Ltd
Q1: Is NYBOT Global Ltd regulated?
A: No, there’s no indication that this broker is FCA or SFC regulated, even though it claims to be so.
Q2: Do I stand a chance of getting back money lost on NYBOT?
A: If you have been scammed, contact a reputable fraud recovery company or your bank immediately to report the transaction.
Q3: How do I ensure that a broker is genuine?
A: Always check the broker’s registration with official regulators such as the FCA, SFC, or CySEC prior to investing.
Q4: What are the indications of an impostor broker?
A: Be wary of missing contact details, absence of regulatory details, fraudulent credentials, and so on.
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