BoneyMarket

BoneyMarket presents itself as a legitimate trading platform, but the evidence tells a different story. Here is what our review of BoneyMarket uncovered.

Who is BoneyMarket?

BoneyMarket markets itself as an online trading and investment service. Its public site is presented at https://www.boneymarket.com/. As with most operations of this kind, the polished front end conceals a lack of the basic protections a real, regulated broker is required to provide.

Is BoneyMarket regulated?

We could find no evidence that BoneyMarket 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

• Unrealistic profit claims and pressure to deposit more
• No credible physical address or verifiable corporate record
• Opaque or anonymous corporate ownership
• Account dashboards that show “gains” with no real market exposure
• Offshore or shell-company registration used to avoid oversight

Our analysis

BoneyMarket claims to be a reliable firm while presenting neither details about its regulations. Lacking regulatory information may be a distinct characteristic of unlicensed brokers, as legit brokers always present their certificates and licenses in a prominent position. It is a red flag here. Besides, BoneyMarket claims it is headquartered in Bulgaria and has branch offices in Singapore, the UK, Katar, and Poland. As per relevant law, we searched in several regulatory bodies, including: 1) The UK Financial Conduct Authority (FCA); 2) The Bulgaria Financial Supervision Commission (Bulgaria FSC); 3) The Polish Financial Supervision Authority (PFSA); 4) The Monetary Authority of Singapore (MAS). However, we did not find any match results to BoneyMarket in the above watchdogs' registries. That means BoneyMarket is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

Can you recover money lost to BoneyMarket?

If you have deposited with BoneyMarket, 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.