Website: https://www.zylotrade.com/
Address: United Kingdom
Regulation: No Regulation
Warning about Zylo Trade: British Columbia Securities Commission (BCSC)
Zylo Trade is completely anonymous. There is no information on their website about their regulation, address, or contact number. These websites should be avoided at any cost where no information about the identity is given.
Zylo Trade Review 2023 – Is Zylo Trade a good forex broker or a scam?
There may be a risk of scams in online trading like Forex trading, Cryptocurrency trading, Binary trading, and others. Some of the major online scams we heard about are Forex scams, Cryptocurrency scams, Investment scams, Romance/Dating scams, Pet scams, Binary scams, etc. Scam brokers have a common way of fooling victims either. They either do it through cold calling, creating fake websites, or pop-up advertisements. Similarly, after investigating the Zylo Trade broker, we found multiple proofs of scam activities done by Zylo Trade. The idea is to warn brokers about the possible scam activities of Zylo Trade. Read a complete Zylo Trade review to know more about this broker.
Zylo Trade’s Lack of Transparency Raises Concerns
Zylo Trade’s website omits crucial information such as ownership and executive details. The website domain was only privately registered in August 2022, yet the company falsely claims to have been founded in 2018. Moreover, the company’s operations are likely based in Russia, Ukraine, and/or India, but Zylo Trade provides a corporate address in the UK to obscure this fact. The company also offers shell company certificates for several countries, but they are of no value when it comes to due diligence.
According to SimilarWeb, the top sources of traffic to Zylo Trade’s website are Italy (9%), Russia (9%), and Brazil (6%). It’s important to exercise caution and think carefully before joining or investing money in an MLM company that fails to disclose its ownership and management.
Warning Issued Against Zylo Trade by Regulatory BCSC
The British Columbia Securities Commission (BCSC) recently released a warning against Zylo Trade, citing the broker’s lack of registration to trade. Upon review, All Scam Reports has determined that Zylo Trade is an unregulated broker. Although the broker displayed several certificates of incorporation from various countries in an attempt to appear legitimate, it’s essential to note that a broker’s reliability and legitimacy rely on its regulatory status. Registration alone does not guarantee that a broker is authorized to legally offer financial products or services.
Notably, Zylo Trade claims to be registered in the UK. However, our search on the Financial Conduct Authority (FCA) website did not yield any results. Additionally, the BCSC has also warned against Zylo Trade, stating that the broker is not authorized to trade or provide advice on securities or derivatives in BC.
In summary, Zylo Trade is not regulated by any governing body, and investors should avoid entrusting their funds to this broker. The absence of legal protections puts their investments at significant risk, making it a clear scam.
Got scammed by Zylo Trade? File a Complaint against Zylo Trade for a recovery process
It is tough to recognize fake brokers at first glance, yet that is the place where we can help. If you want to invest in online trading, it is a good idea to look at the list of scam brokers 2023 and avoid the brokers present on the list. This will help you in safe trading and also keep your investments safe with the right broker.
All Scam Reports have a team of experts who work to get your money back from scammers. We have broad involvement in chargebacks, forex scam recovery, crypto scam recovery, and the ability to manage a wide range of cases. All Scam Reports Team advises the user to avoid investing here, as we have found that the Zylo Trade broker is suspicious, and operating without any legal license. There has been proof of some suspicious activities similar to the signs mentioned in the Zylo Trade review.
So it can be concluded from this Zylo Trade review that this broker is a potential scam.
Investors should always remember that scammers don’t have any right to take away their funds in illegal ways and hence, it is their responsibility to fight for it and get it back from the scammers. All Scam Reports Team is here to help you out in this situation of fund recovery. All you need to do is to fill out a small complaint form, and we will be in touch with you shortly with a free consultation.
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