NYXtrade

After reviewing NYXtrade, we assess it as a high-risk, likely fraudulent broker. Below we break down exactly why, and what your options are if you have already deposited.

Who is NYXtrade?

On the surface, NYXtrade looks like an ordinary forex and crypto broker. Its public site is presented at https://nyxtrade.co/. But surface impressions are exactly what these operations rely on — the substance behind NYXtrade is where the problems begin.

Is NYXtrade regulated?

We could find no evidence that NYXtrade holds a valid licence from any recognised financial regulator. Trading client funds without authorisation is one of the strongest indicators of a scam — there is no regulator to complain to, and no protection for your money.

Red flags we identified

• Withdrawals reportedly blocked behind “taxes,” “fees” or account “upgrades”
• Unrealistic profit claims and pressure to deposit more
• Aggressive “account managers” coaching clients to deposit
• Account dashboards that show “gains” with no real market exposure
• No credible physical address or verifiable corporate record

Our analysis

On 20 Feb 2023, the Comisión Nacional del Mercado de Valores(CNMV) issued a warning against NYXtrade for not being authorized to provide the investment services. You may visit: http://www.cnmv.es/Portal/ResultadoBusqueda.aspx?tipo=1&sortExpression=Fecha&sortDirection=1&page=0&lang=en

Can you recover money lost to NYXtrade?

If you have deposited with NYXtrade, do not pay any further “fees” to withdraw — that is part of the trap. Funds sent to operations like this can sometimes be traced on-chain and pursued through the exchanges and processors that received them. Whether recovery is realistic depends on how you paid and how quickly you act.