FXBay Live Broker Review – DANGER!
OFFICIAL SCAM URL: fxbaylive.com
FxBay Live is a broker for stocks, CFD, crypto, Forex, and more, and upon first glances, it looks to be the real deal. However, we have received literally hundreds of complaints about FxBay Live Limited, so we are here to investigate. This is our FxBay Live broker review, and we are here to figure out whether this is a real broker or a scam.
FxBay Live LTD – Anonymous!
The first scam factor which came to our attention about the FXBay Live Limited brokerage company is that it is anonymous. There is not a single mention of who might own or lead this broker, just nothing at all. This is always very suspicious and a huge cause for concern.
After all, unless there is something illegal going on, why else would the people in charge choose to remain hidden from sight? When it comes to brokers and trading platforms, this kind of anonymity and a total lack of transparency is always a strong indication that there is a scam afoot.
Don’t be fooled by the images of people seen in the “about us” section of FXbaylive.com. These people are not associated with the company in any way, shape, or form. They are just stock images of random people!
FxBay Live Limited – Company Information
One thing which stands out about this broker is that besides stating that it is registered in St. Vincent and the Grenadines, there is no other information provided about the company at all. We want to know where the office is located.
St. Vincent may not be a huge country, but we still want to know where on this piece of land the FxBay Live broker is based. Moreover, we also tried calling the provided phone numbers, and of course, nobody ever picked up the phone. This complete lack of legit company information is a clear indication that something shady is going on with this fxbaylive.com broker.
Registration & Licensing
Another thing that stands out about the FXBay Live broker is the fact that it does not appear to actually be licensed. On the site, at the bottom, in miniature letters, it states that this company FxBay Live Limited is officially registered in St. Vincent and the Grenadines, and that it is licensed by the Financial Services Authority of St. Vincent and the Grenadines.
Now, the problem we see here is that this country is not a great place to register or license a company. Here, they will let virtually anybody register a business without any sort of proof or legitimacy. Simply put, being licensed in St. Vincent is totally meaningless. Just because it may be registered in this country does not make it legit, not in the least.
Even if FXBay Live Limited is actually licensed and registered in St. Vincent, we doubt that any of the information is legit. PEOPLE, NO SUCH COMPANY ACTUALLY EXISTS! A QUICK REGISTRY CHECK PROVED THAT ALL COMPANY INFO DISPLAYED ON THE WEB PAGE IS FALSE!
A Bogus Demo Account
Yet another red flag that popped up here has to do with the FXBay Live’s demo account. Apparently, people can sign up for a free demo account. This is allegedly designed to allow people to check out this broker and the platform without having to use real money.
The system should trade just like the live version would, so you can test it out for yourself, see the results, but without having to risk real money. Folks, this is a total lie, it’s bogus. The demo account here is rigged, just like a carnival game.
However, unlike a carnival game, instead of being rigged to lose, the demo is rigged to win. It’s nothing more than a cheap trick, a game of smoke and mirrors. The demo here is specifically engineered to only display winning trades. It’s a good trick to get people to invest real money with a live FxBay Live broker account.
FxBay Live Limited Domain Info
According to the website, this broker has been active in the trading world for years and years. This is another lie. It’s meant to lend this broker with an air of legitimacy. It’s just more smoke and mirrors. This website, fxbaylive.com, has only been active for a few short months. The domain was only registered at the end of 2019, not several years ago!
CLICK ON IMAGE TO GO TO ANDREW’S TRADING CHANNEL
Accounts, Deposits, & Deposit Bonuses
The next scam factor which came to our attention here has to do with the FxBay Live broker’s accounts and deposits. For one, the minimum required deposit here is $100. However, the industry standard is $250. This is just a ploy to attract newbies who don’t know anything about brokers. This is done in the hopes of getting newbies to invest a bit of money.
Moreover, this broker also offers massive deposit bonuses. Of course, these deposit bonuses never materialize, not in reality. Your account may look like it got a bonus, but this is just a trick. These are simply scam tactics used by this FxBay Live scam broker to sucker people into investing their hard earned money.
Trading & Withdrawals
Something else that came to our attention is that this scam broker does not allow people to make withdrawals, and it usually has to do with the deposit bonus. As we have gathered, people are forced to make additional deposits into their accounts in order to make withdrawals.
Many people fall for this trick and end up depositing additional funds, but the FxBay Live broker still won’t let people withdraw money even after additional deposits have been made. Moreover, these crooks trick people into using professional account managers to place trades for them.
However, these are not professional account managers. They are just call agents. They purposely lose trades or steal money from accounts. Simply put, in one way or another, this broker steals money from people.
FxBay Live Review – The Verdict
The final verdict here is that the FxBay Broker is undoubtedly a scam. The only purpose it serves is to steal money from unsuspecting victims.
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IMPORTANT: If you have any questions, issues or you experience any problems please email us and we will be glad to assist you. Our contact customer support email is: firstname.lastname@example.org. If you register with this service from our website then you will always have our full free support in case you run into any issues or problems. Remember that you are not alone, with us you will always be safe!
To date, we have settled close to 2,000 trading disputes and we will not stop until we put every last scam out of business! If you have been cheated out of money or scammed by any fraudulent trading service, we encourage you to reach out to our complaint center for free help. If you need help, we will provide it for you!
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