BYFX Global Review: Horrific Forex Broker Scam

× Alert!
  • - Can't withdraw your funds from this fraudulent company or broker?
  • - Have they asked you to pay excessive withdrawal fees or to deposit more funds?
  • - Or is there an excessive delay in processing your withdrawal?
  • - Are they trying to push you into depositing more money with them even without withdrawing the one you've already put in?

It's a CONFIRMED scam broker/company, recover your stolen funds by filling out the form below and you will get a FREE Mychargeback consultation today:

Fill out the form below to recover your lost funds from this scam company

BYFX Global Review: Horrific Forex Broker Scam

BYFX Global ( is a CFDs and Forex scam broker to hit the lucrative commodities world. BYFXGlobal is claiming to provide preferred accounts spreads of 40, and 100 times leverage. Other claims that BYFXGLOBAL is continually bragging about include seizing the hot spot of US stocks. With these claims, we decided to investigate this broker to see what they really provided. Our investigation will reveal all the dirty tricks used.

BYFX Global Review

BYFX Global Review:

This broker is offering special accounts with spreads as low as 3.5. They also claim to offer quotes without interruption trading. What we always advice newbie investors is to take time to investigate a broker. Reviews are meant to help users get to know more about a product or service before signing up. That’s why it’s imperative that you read this whole review to find out more regarding BYFX Global.

It should be noted that scammers know for a fact that we all want to make a quick buck or two. That’s why they come up with products and services that they claim to help satisfy this need. What scammers do is offer claims and promises of making high and quick returns within a short time. What BYFXGlobal is doing is no different as they have come up with an enticing website. Don’t let the homepage fool you, there’s more than meets the eye.

At all times, sign up with Accountable and Affordable Forex brokers who have the expertise required. Always go for Dependable and Genuine Forex trading robots that have been Verified by the trading community. Sign up with Authentic and Transparent Forex brokers today and start making real money. Use Proven Forex brokers to go places you’ve never been with Forex trading.

Who Owns BYFX Global?

According to the disclaimer at the footer of their homepage, this site is owned by SBI Group. They also claim that this broker is owned by Yiyihui Co LTD. What they clearly reveal to us is that this is an offshore broker. Offshore brokers are notoriously known for flaunting regulations and rules. This is why we believe signing up with this broker is without a doubt, a risky venture. Make sure to never sign up with offshore brokers.

Why have they failed to mention the real names of the people behind this brokerage firm? This is because they are afraid of backlash from victims and authorities. Who is the CEO or CFO of SBI Group? If we had the actual names of people behind this brokerage firm, verification would have been easy. One way of verifying claims is to look at social media posts of these owners or their brands. They simply don’t have any social media activity which is weird.

👉 Are you looking for a Forex Robot that offers realistic returns even when the markets are volatile or down? Golden Pickaxe is the BEST Forex robot using low risk and EARNING a whopping 47.93% monthly profit margin. You get a robot offering the best in terms of safety and guaranteed profits no matter the risks. A gold-driven EA robot, the robot was created and developed over ten years. It has the pedigree to offer gold traders a profitable all-year-long profit regardless of market conditions. We have tested the platform, and it has seen remarkable profit margins for the past 15 months. The well-known trader developer (Valeriia), put the robot out there for any trader to confirm its realistic profitability. And the robot was tested and seen to be even better than what we thought was the best, Waka Waka. Golden Pickaxe is now one of the best-proven forex robots that offer profitable outcomes, and all data are third-party verified independently via Myfxbook. The balance volume for Golden Pickaxe is there for anyone to see. And that means you get a transparent Forex robot guaranteeing results. Even when facing drawbacks of 37.47%, the robot balances the profits. With an automated trading robot, you can receive near-perfect signals for trading gold. And that’s what every trader needs when investing in Gold. So what are you waiting for? We have tested the robot and Guarantee it’s a perfect match for you. Start earning realistic profit margins from forex trading with a LOW-RISK thanks to Golden Pickaxe. We have been using it even when the gold market was risky. Thanks to this automated forex robot, you can earn 47.93% ROI or more per month consistently. Complete beginners to Forex can start and immediately start earning a stable and reliable income with it.  What's more? You don’t even have to deposit funds with your broker when using the Golden Pickaxe robot. Just register with a Broker such as IC Markets or Coinexx (for US-based traders); there’s no need to deposit your real funds with them. Instead, use the Golden Pickaxe robot to pass a funded account challenge on FTMO. No worries, it’s very easy to pass once you install the EA. Once you pass the challenge, FTMO funds your account with real live funds depending on the challenge you passed, then you can simply carry on trading with the EA on the live account and request payouts monthly whenever you want to withdraw your profits. All challenges and trading are done automatically by the Golden Pickaxe robot, so you don't have to worry. Or... if you don't like the idea of a trading challenge/evaluation, you can simply buy a cheap funded account with prop firms we recommend like FundYourFx, get instant funding of a real account, then start using the robot to trade, profit and make weekly withdrawals, very easy. If you have any questions or want help with the setup, head over to our live chat and ask for Corey Woods. Corey will help you with any issues, problems, or initial setup along the way. Here’s your chance to start trading Gold and earn with an AUTHENTIC, PROVEN, AND SAFE Forex Robot. Sign up today for a chance to get a reliable side income with GOLDEN PICKAXE. Click the button below to buy the EA, then contact me on live chat if you need any help setting up the whole thing.

Click Here To Buy Now

Is BYFX Global Licensed or Regulated?

BYFX Global Scam

What the disclaimer at the bottom of the homepage claims is that they are registered in British Cayman Islands. BYFXGlobal claims to be registered by the Financial Services Authority. They also add in that they have a securities investment Business License number 1458866. Scammers will do or say anything to try and get their products and services appear legit.

One way of proving that these are all fake claims is lack of credentials. Where have they posted their registry documents? A legit broker will easily post their registration certificated and documents for all to see. What’s funnier is that the British Cayman Islands does not use that algorithm to register brokers. We are clearly dealing with a professional scam outfit that is out to steal funds.

Fake Platform.

Scrolling down their platform page, this broker claims to have a one of a kind platform. BYFX Global’s platform apparently has a market observation and navigation window. This is not the only feature they advertise on. Other features they claim the platform has include analyzing tools, and secure transactions. They claim that their platform has multiple order types with multiple chart settings.

Testing how good their platform really is, we decided to download it on various devices. Download stalled at 52% which is not good news for any investor. This means that their platform is unstable. An unstable platform leaves users vulnerable to cyber-attacks. Hackers easily gain access to unstable platforms and steal personal data and credit card details. This is a dangerous platform to work with.

Why not sign up with Credible and Dependable Forex trading Robots? Get Accountable and Accurate Forex trading Robots that are Honest and Transparent. This is a sure way of making the best out of Forex trading. Start making money today by signing up with industry recommended Forex trading Robots. Make the best out of Forex trading by having Reliable and Reputable Forex trading Robots.

No Live Chat Support.

Another huge red flag with this broker is that they have no Live Chat support. This means that users cannot freely contact this broker. Problem with emails is that they take time to get response. A real broker would ensure that they have a live chat support team. This is clear proof that we are dealing with a scam broker.

Anonymity is a dangerous character to have when dealing with any online investment. BYFX Global is quite anonymous and this is a huge problem for us. Fact that they can’t even offer bot services is a hindrance to newbies who sign up. Nobody really knows what the minimum required deposit is. Users can’t ask questions since emails take time to be responded.

Are Funds Safe with BYFX Global?

BYFX Global Fake Review

Funds will never be safe with an offshore broker who has fake credentials. Once you sign up with this broker, don’t expect to get your money back. Problem with this broker is that they fail to disclose their depository bank. Which bank do they use to deposit money that’s raised by users? This is a major concern as it proves we are dealing with a professional scam outfit. Their only intention is to swindle.

Another red flag with this brokerage firm is that they don’t segregate accounts. What BYFX Global is doing is pooling funds in one account. This is a dangerous practice as it may lead to losses in case of bankruptcy or insolvency. Did you know that users maybe depositing money straight to the owner’s personal bank account? They don’t even participate in a compensatory scheme. This is surely a broker who has no concern over set rules.

Deposit and Withdrawals.

According to the homepage, users can deposit money using two available channels. They include UnionPay and Wire Transfer. It’s not clear which types of accounts they offer or minimum required deposit. Make not to wire any money to these scammers because they won’t be allowing you to withdraw. BYFXGlobal refuses to allow members to make withdrawals for unknown reasons.

This is what makes BYFX Global a total and shameful scam. Apparently, a user has to reach a certain trading volume to earn a withdrawal? When has it ever been a crime to not withdraw your own funds? This is a major red flag that users and investors should know about. Never sign up with BYFXGLOBAL or face losing your entire deposit.

Is BYFX Global a Scam?

BYFX Global is a scam that’s simply wants members to sign up and make deposits. Best thing to do is mark all their emails as Spam. Never click on any links sent by these fraudsters as they contain malware. This is simply a Forex scam that investors should look into. This will help investors not to fall into the same trap.

BYFX Group Final Verdict.

BYFX Global Scam Review

Only option that we are left with is to blacklist BYFX Global as a Forex scam. Evidence clearly points out that we are dealing with a Forex broker sham. Make sure to warn your friends and family about this broker.

Always go for Approved and Trusted Forex Brokers at all times. This is a sure way of making real money dealing Forex. Go for Industry recommended Forex brokers that have the necessary credentials and expertise. This is one way of remaining safe with Forex trading.

We wish you all the best in your Forex trading experience.

Leave a Reply

Your email address will not be published. Required fields are marked *


Follow Us will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act of Fair Use.