NYFX Trading Platform Review: High Risk (Suspected Scam)

Introduction to NYFX Company:

NYFX's official website is Which platform is good for opening a foreign exchange accounthttps://nyprofx.com/, which is available in Traditional Chinese, English, German, French, Russian, Japanese, Vietnamese, Korean, and Thai. According to Whois query results, the domain registration contact for this company is located in New York, USA. A search on the New York Department of State's website conducted by TraderKnows suggests that NYFX may have used registration information from NYFX QUEENS INC and NYFX INC, both of which were dissolved in 2000 and 2009, respectively. Additionally, the company's official website domain was registered within the last six months, with a registration date of June 24, 2023.

Is NYFX Compliant and Legitimate? Does It Hold the Appropriate Financial Regulatory Licenses?

The information presented on NYFX's official website indicates that the company is licensed and regulated by the National Futures Association (NFA) in the United States. However, a search on the NFA website conducted by TraderKnows reveals that NYFX is not a registered member of the National Futures Association (NFA) and is not subject to NFA regulation or authorization.

Trading Instruments Offered by NYFX:

According to NYFX's official website, the company provides trading services in various instruments, including forex, precious metals, energy, agriculture, indices, and more.

Trading Software Offered by NYFX:

NYFX's website information indicates that their trading platform offers technical analysis tools and supports both desktop and mobile versions for iOS and Android. However, the platform it provides poses significant risks, as traders can potentially manipulate market data, force liquidations, and engage in unauthorized activities.

Fund Safety:

NYFX does not disclose any third-party fund safeguarding information on its official website, raising concerns about the security of users' funds.

Deposit and Withdrawal Channels:

NYFX has not made any information available regarding user deposit and withdrawal channels, leaving users in the dark about how to make deposits and withdrawals.

Leverage Ratios:

While NYFX's website mentions that the company offers leverage ratios ranging from 1:1 to 1:500 in the "Frequently Asked Questions" section, it does not provide specific information on leverage ratios for individual trading products.

Summary:

NYFX is a forex brokerage firm operating with false regulatory information and conducting illegal financial activities. The company has not disclosed crucial information related to user fund security, deposit and withdrawal channels, and specific leverage ratios for trading products. NYFX is listed as "suspected scam" on TraderKnows. It is essential for traders to exercise caution when considering the services offered by NYFX to protect their financial assets and prevent potential losses.

Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

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