Cyberex Ltd asserts its existence within the highly regulated financial environment of the United States. However, a critical factor that raises concern that the absence of the essential forex license for such operations. In this Cyberex Ltd review know why we added this broker to our scam broker list.
In the realm of safeguarding investments, transparency and legitimacy are indispensable. Hence, we strongly advise against engaging with Cyberex Ltd due to its unreliability.
Website – https://www.cyberexltd.com/
Address – N/A
Warning – Financial Conduct Authority (United Kingdom)
Regulation – Unregulated, Blacklisted, Scam
Domain Age –
| Domain Name | cyberexltd.com |
|---|---|
| Date Registered | March 04, 2023 |
| Domain Age | 7 months, 11 days, 4 hours, 14 minutes, 56 seconds |
Is Cyberex Ltd legit or a scam broker?
Cyberex Ltd presents itself as a legitimate forex broker operating from the United States. However, it is critically deficient in the necessary forex license required for legal operations within this jurisdiction.
Furthermore, the United Kingdom’s Financial Conduct Authority (FCA) has issued a specific warning against Cyberex Ltd. The FCA has categorized it as an unauthorized entity providing financial services in the UK without the appropriate authorization. This solidifies the conclusion that Cyberex Ltd is not a reliable company.
In light of these irrefutable facts, it is absolutely essential to avoid any engagement with Cyberex Ltd.
Cyberex Ltd Review: Trading Platform
The insistence by Cyberex Ltd on obtaining personal identification documents for platform access is a source of significant concern. This deviation from the established norms observed by reputable brokers raises profound security apprehensions.
For a trustworthy and user-friendly trading experience, we highly recommend MetaTrader. It has consistently been the preferred choice for numerous traders due to its user-friendly interface, which is not only straightforward to navigate but also remarkably easy to operate.
Deposit and Withdrawal Methods
Cyberex Ltd mandates a minimum initial deposit of $500, which is double the industry’s typical standard of up to $250 for such deposits.
Additionally, Cyberex Ltd exclusively accepts payments through various cryptocurrencies such as BTC, ETH, and LTC. Lastly, the company asserts that withdrawal requests are typically processed within 48 working hours.
Cyberex Ltd Review: Trading Conditions
Cyberex Ltd asserts that it offers a diverse array of trading instruments on its platform, including Forex, Stocks, and Commodities. However, specific details regarding their spreads remain undisclosed, with the sole mention that they are narrow.
As per the available information, Cyberex Ltd provides leverage of up to 10:1, which is positioned within a comparatively safer range when compared to higher leverage alternatives.
Cyberex Ltd Review: Customer Reviews and Ratings
The vast majority of submitted reviews are overwhelmingly unfavorable, and the lowest rating is the most commonly assigned to Cyberex Ltd. Customers have been openly expressing a variety of problems they’ve faced, suggesting that Cyberex Ltd treatment of its users is notably lacking. The primary concerns raised by clients are related to withdrawal issues and Cyberex Ltd persistent requests for additional deposits.
How does the scam work?
The most prevalent online trading scams often begin by showcasing profitable trades to create a deceptive sense of confidence among investors, enticing them with the allure of ‘easy money.’ Once this illusion of security is established, investors are urged to increase their investments in pursuit of even higher returns. Furthermore, various incentives may be dangled as bait to convince investors to bring their friends and family onto the platform.
When the brokerage believes it has extracted the maximum funds from an investor and their network, it may then opt to suspend the account, effectively blocking access to the invested capital.
Moreover, many fraudulent firms may deceitfully claim to operate within a regulated jurisdiction, displaying counterfeit regulatory licenses and addresses on their websites to enhance their credibility in the eyes of unsuspecting investors.
Conclusion
If you’ve fallen victim to a Cyberex Ltd scam or any deceptive scheme, there is a proactive course of action available to you. Simply complete a complaint form on our website, and you will be entitled to a free consultation with our specialists to explore the procedures for recovering your funds.
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