Quick Links

• Our Review Method

• Is BY Trading Scam or Legit Broker?

• What is BY Trading?

• Conclusion

Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding BY Trading due to the issues we've identified.

Is BY Trading Scam or Legit Broker? ▲

BY Trading emerges as an unregulated brokerage entity, casting a shadow over its legitimacy. Engaging with this broker harbors substantial risk, given its absence of regulation by any reputable authority. The firm has even attracted the scrutiny of the esteemed Financial Market Authority (FMA), followed by alerts from various European Union authorities, underscoring the potential risks and advising investors to tread cautiously. Regulatory bodies aim to shield the public from dubious investment ventures and perilous business operations, emphasizing that certain entities, lacking the proper authorizations, should not execute specific financial transactions or services. This proactive stance in disseminating warnings about BY Trading is both necessary and justified, considering the potentially adverse implications of dealing with the firm.

What is BY Trading? ▲

Positioned as a brokerage firm based in Wien, Austria, BY Trading professes to offer trading services across a spectrum of more than 15 market destinations. The portfolio of services purportedly includes clearing services for institutional and professional traders, with a focus on commodities, stocks, options, futures, forex, bonds, CFDs, and funds. Despite claims of 20 years of experience and professional service provision, the glaring absence of authorization from the FMA, Austria, raises serious questions regarding the legitimacy of these assertions. This situation casts a shadow over BY Trading's operations, suggesting that, despite its claims and its location within a well-regarded EU jurisdiction, it operates without the necessary legal sanction. Consequently, it is advisable for potential clients and traders to exercise caution and consider regulated brokers, which operate under strict safety rules and offer protections, including compensation schemes in the event of broker insolvency.

Conclusion ▲

Our thorough examination has led us to conclude that BY Trading does not constitute a secure investment avenue. The firm's lack of regulatory oversight and the ensuing warning from the FMA, along with other European authorities, signal significant risks associated with this broker. It is our recommendation to steer clear of unregulated and offshore brokers, opting instead for entities licensed in jurisdictions with stringent regulations and robust client protection measures, such as the UK or Australia. Notably, our analysis reveals an overall negative rating and experience with BY Trading, underscoring the importance of prioritizing safety and regulation in your broker selection process.

BY Trading Update

Our latest findings indicate that the BY Trading website is no longer accessible and is out of operation. This development further emphasizes the importance of vigilance and caution. Potential investors should remain wary of any future propositions from this entity or similar unregulated brokers, reinforcing the recommendation to opt for regulated and reputable brokers to ensure the safety and security of investments.