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Forex Scam Alert: Secrets of NYBOT Global Revealed

2025-01-17 BrokersView

Forex Scam Alert: Secrets of NYBOT Global Revealed

A recent complaint from a client brought unlicensed broker NYBOT Global back to the attention of the BrokersView team. The client claimed to have lost $800 on this trading platform.

 

Although NYBOT Global's website is currently inaccessible, BrokersView had checked NYBOT Global's regulatory status in September 2024 and found that it was an unregulated financial services provider.

 

NYBOT Global Ltd described itself as a UK-based company and also held Type 4 and Type 9 licenses from the Hong Kong Securities and Futures Commission (SFC).

 

However, when searching for the keyword “NYBOT” on the HK SFC's portal, we got no relevant results. This means that NYBOT Global was lying about its Hong Kong licenses.

 

In addition, as a “firm incorporated in the UK”, it was not authorized by the Financial Conduct Authority (FCA).

 

All indications showed that NYBOT Global was offering online trading services to investors without being subjected to any financial regulations. When the trades were wrong, investors had no recourse to recover their funds.

 

Arash Pasha, a client of the broker, faced such a problem.

 

Telegram support of NYBOT Global did not give any resolution

Telegram support of NYBOT Global did not give any resolution

 

The client claimed that he started trading with the broker after depositing some capital and managed to withdraw some profits. But when the client submitted a withdrawal request for the second time, things didn't go so well.

 

“Chatting with the broker's Telegram support was also fruitless and they didn't respond to my emails regarding this matter. my Telegram account was blocked and my account with this broker was also closed.”

 

BrokersView reminds you that dealing with unregulated brokers brings significant risks. When your account goes wrong, you may not be able to recover your money.

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