Trubyx Review – Scam Broker Exposed
Trubyx trading company was created in 2022 in the Marshall Islands. In less than one year into business, their website went inactive. Which is a standard pattern of scam brokers. However, there are two outcomes. Either they completely shut down or they changed the company name.
Important to understand is what are the common things that scam brokers offer. But also what to do if you are a victim of such a broker. Luckily, you can find all those information in our latest Trubyx review. Because of the same reasons, it’s good to check our Bisterzio and StarTrader reviews.
|Unlicensed scam broker – Smart Solution Corp.
|Raw – Unspecified
|4.1 on Trustpilot
License and Regulations of Trubyx
As an anonymous broker, it’s not surprising that they miss reputation. At first glance, you can see that the broker is shady if they don’t have a license. Therefore, we did detailed research on numerous Tier 1 regulators’ databases. Some of those are FCA, BaFIN, CONSOB, ASIC and CNMV. As expected, the Trubyx scam broker is not on any of the lists.
Consequently, traders can’t expect any protection from this broker. Moreover, if they promote any that may be just a scamming tactic. After all, a license brings a comfortable trading experience. Primarily due to strict rules being applied. But also protection that traders have with a licensed broker. For example, negative balance protection or segregated bank accounts for deposits.
Also, if you check FCA regulation requirements broker must have 730.000 EUR of capital. That allows liquidity of the broker. So that they don’t disappear like Trubyx scam brokers. In the end, if the broker was legit in any way they wouldn’t shut down after 1 year.
Trading Platform Available at Trubyx
What makes Trubyx brokers even more suspicious is their trading platform. Many illicit brokers won’t invest money into reliable third-party software. For example, Meta Trader or cTrader. Instead, they opt for less reliable web-based options.
As for charting options, traders can’t expect anything more than a basic Trading View. The broker has transparent leverage and spread information, but that’s for a demo account. It’s questionable if the same data values for live trading accounts. Also, mobile users can access their trading accounts only via browser. Trubyx scam broker lacks a reliable mobile app for iOS and Android devices.
However, all 5 major groups of instruments are available on their platform. Starting with:
- Forex USD/GBP, AUD/HKD, EUR/SEK
- Commodities Gold, natural gas, platinum
- Indices S&P 500, DAX 30, FTSE 100
- Shares Netflix, Amazon, Shopify
- Cryptocurrencies BTC, ADA, XRP
Trubyx Account Types
With the Trubyx investment scam, it’s obvious that account types are fictive. The only benefits traders are getting are coming from educational material and broker support. Also, the broker promotes a welcoming bonus. But we will cover that later.
With licensed brokers, account types provide better trading conditions. That motivates traders to make bigger deposits and have higher trading volume. Which plays a role for the company. Because they make money from spreads and commissions. On the other hand, Trubyx broker practically tells you how much money they want to scam you for.
Therefore, traders can choose between 8 account types:
- Regular $250
- Bronze $10.000
- Silver $25.000
- Gold $50.000
- Platinum $100.000
- Diamond $250.000
- VIP $500.000
- PRO $1M
Deposit and Withdrawal Methods
Scam brokers often promote non-refundable funding options. For example, crypto transfers. However, the Trubyx scam broker had card payments available. But the idea is for bigger amounts that you use non-refundable options. We suggest everyone use a card every time because you can get a chargeback.
Another key point is a withdrawal policy. Quite important for every trader. Luckily, Trubyx broker reviews discovered a shocking truth. That this broker doesn’t allow any withdrawals to happen. They will make up numerous reasons why not to approve it. Lastly, once they don’t have enough arguments they will freeze your account and never get back to you. Now it’s understandable why they vanished.
Offshore Brokers Fraudulent Tactics
One of the most common online trading scams involves showing profitable trades at first to deceive investors into believing they can make money quickly. When the investor feels confident, the idea of investing more money to receive better returns will be promoted to them. The investor may also receive additional rewards to persuade them to bring their friends and family onto the platform.
The account will be suspended once the brokerage determines that it has obtained all of the investor’s available funds from him or her and their network. At that point, the investor will no longer have access to the funds that have been invested. To gain the trust of unsuspecting investors, many dishonest businesses will even state that they are headquartered in a regulated country.
Moreover, they will display fictitious regulatory licenses and addresses on their websites. But also they will use the welcome bonus to attract traders. But every accepted bouns comes with a malicious clause. Traders need to obtain a certain trading volume to get a withdrawal. Thus, such volumes are hardly reachable and leave enough room for traders to make up another excuse to prevent withdrawal.
But if you were a victim of a Trubyx scam, our fund recovery team is available for consultation. Don’t let the guys get away with your money. Get in touch today!
- Unregulated entity.
- Completely anonymous broker.
- Pretending to be from the UK.
- Trubyx company trades without a license.
- Only web-based software is available.
- A broker offers a banned welcoming bonus.
- Numerous negative reviews about the company.
FAQs About Trubyx Broker
Is Trubyx Regulated?
No. With an alleged UK-based location they should have an FCA license, but they don’t.
What is The Minimum Deposit for Trubyx?
The minimum deposit requirement with Trubyx scam broker matches the industry average of $250.
Is Trubyx a Trustworthy Broker?
No. Broker is not regulated. Also, they vanished after 1 year in the business.