NYX trade review – Is this a next-level fraud?
This broker tries its best to remain completely mysterious. Their fresh registration in 2022 doesn’t bring anything good. Especially once you realize that broker doesn’t reveal anything about themselves. But firstly, ownership information. Luckily, some institutions are still doing their job.
What are the facts that concern many traders you can find in this unbiased NYX trade review.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:|
|Types of Assets:|
|Free Demo Account:|
|Accepts US clients:|
Is NYX trade a Regulated and Licensed Broker?
NYX trade trading company doesn’t reveal their origin country. Therefore you can only guess what laws they comply with. But if they wanted to do the business properly they would get a license. However, none of the Tier 1 regulators ever issued one to this scam company. Starting with FCA, BaFin and ASIC databases.
Now you can start questioning everything on their website. Especially security measures that they promote. Such as negative balance protection and high liquidity. Also, similar advertised features you can find in other companies. Thus, they all fail to deliver. Some of those you can find in our Atlantic Holdings and InvestThink review.
Primarily, the broker without regulation. Only shady web-based software is available. NYX trade earned a warning from Spanish CNMV. 80% of negative reviews.
Warning Issued by Financial Authorities
If this broker did a proper job they wouldn’t get a warning. However, Spanish CNMV issued in February 2023 public statement about this company.
With this in mind, you have a confirmation that anything this broker says is fraudulent. Their goal is just to extract money from traders and vanish. Which mostly happens once the broker gets multiple warnings.
The Opinions of Traders On About NYX trade
Another confirmation of this illicit scam is NYX trade reviews. In fact, there are 35 comments on Trustpilot. Believe it or not, 80% of them are with the lowest rating.
Generally speaking, everyone talks about the same thing. Losing all of their savings with this malicious trading company.
NYX trade Platforms – A Software Comparison
With a shady broker comes a shady platform. NYX trade broker offers only web-based software. It allows traders to use only basic tools and features. But some advanced trading methods are not available.
That’s why many traders these days prefer Meta Trader. Or even cTrader. Such platforms are becoming a trading standard. Primarily due to high reliability. But also because of transparency and trusted mobile apps. On top of that, if the broker is licensed it’s a win-win situation.
What Financial Instruments Does The Platform Include?
Trading instruments are irrelevant if the broker is fraudulent. Especially if the broker manipulates the platform. This might be the case with this web trader.
However, traders have different options starting with:
- Forex USD/HUF, AUD/HKD, NZD/NOK
- Commodities natural gas, gold, platinum
- Indices DAX 30, FTSE 100, Nikkei 225
- Shares American Airlines, General Motors, Netflix
- Cryptocurrencies BTC, XRM, XRP, ADA
NYX trade Countries Of Service
If you find any NYX trade review you can find their scamming pattern. They are mainly scamming traders from:
- United Kingdom
Important to realize is that many of these countries are strictly regulated. Thus, this broker doesn’t have any regulations. Firstly, starting with a rigorous FCA license. Which is the most reliable in Europe.
Account Options Offered by NYX trade
Account types are designed to promote certain trading benefits. However, to get those traders must deposit more money. But with scam brokers that works differently.
That just gives them the advantage to ask for bigger deposits. Anyway, traders can choose between:
- Basic $250 Welcome bonus of 15%
- Advanced $2.000 Welcome bonus of 20%
- Islamic $3.500 Welcome bonus of 25%
- Premium $25.000 Welcome bonus of 30%
Important to realize is that all countries where this broker operates have banned bonuses. Primarily due to fraudulent policies.
Can a Trader Use a Demo Account?
Another sign of a scam broker is the lack of a demo account. This way broker prevents traders to discover their flaws. Starting with the poor trading platform.
But also through non-competitive trading conditions. Sometimes even worse, completely fake conditions.
Terms of Service for NYX trade
As for funding methods, this broker accepts:
- Card transfers
- Wire/Bank transfers
All transactions are processed instantly and the broker doesn’t mention any fees. But what concerns is a withdrawal policy. They don’t state what methods are available for withdrawals. However, the withdrawal policy discovers a shocking truth. As expected this broker has certain rules.
Firstly, they may ask you for additional documents. Secondly, they can deduct processing fees. In fact, the amount is unknown, but it’s taken from the amount required for a withdrawal. Lastly, they have a policy where if you accept the bonus you must trade 25x times bigger volume (deposit + bonus). Only after that, you can request a withdrawal.
Leverage, Spreads and Fees
We already saw many red flags about this scam broker. Another is leverage. All EU regulators limit leverage to 1:30 for retail customers. However, this broker provides shamelessly high leverage of up to 1:500.
With spreads from 0.0 pips on some accounts they are below the average. But if that’s what you get in reality is under question. Lastly, the broker doesn’t reveal any trading or non-trading fees. This is extremely suspicious because legit brokers earn money that way.
What Should I Do If I Have NYX trade Problem?
If you were scammed by this broker don’t hesitate to share your story. Since they are not regulated you can’t seek solutions in some institutions. But there is still a way to recover your money.
Our specialized fund recovery team works on these cases for years. Whether it’s an encrypted crypto transfer or card transfer, you can get your money.
Card transfers are the easiest to recover. Chargeback is a powerful tool that every scammer hates. On top of that, our team has CipherTrace software to track crypto transfers. It’s hard to withdraw money from non-verified wallet. But these procedures are time-limited. So, don’t waste time and contact us today!
What Is NYX trade?
NYX trade is a malicious trading company targeting traders mainly coming from Europe.
Is NYX trade a Regulated Broker?
No. The broker doesn’t have any regulations, especially not Tier 1 like FCA.
Is NYX trade Available in the United States or the UK?
NYX trade activities are recognized in the UK, but not in the US.
Does NYX trade Offer a Demo Account?
No. The only way to trade on their platform is with real money.