Our investigation into FXY Trade found an operation with the classic markings of an investment scam. If you are weighing a deposit — or trying to get one back — read this first.
None found
High (4/4)
Undisclosed
Avoid — do not deposit
Who is FXY Trade?
On the surface, FXY Trade looks like an ordinary forex and crypto broker. Its public site is presented at https://fxytrade.com/. But surface impressions are exactly what these operations rely on — the substance behind FXY Trade is where the problems begin.
Is FXY Trade regulated?
FXY Trade provides no verifiable regulatory licence. An unregulated broker answers to no one: it can freeze withdrawals, invent fees, and disappear with deposits, all without consequence. This alone is reason enough to stay away.
Red flags we identified
- No verifiable licence from a recognised financial regulator
- Aggressive “account managers” coaching clients to deposit
- Offshore or shell-company registration used to avoid oversight
- No credible physical address or verifiable corporate record
- Account dashboards that show “gains” with no real market exposure
Our analysis
FXY Trade claims to be a tradename of JPT Ltd authorized and regulated by the Prudential Regulation Authority and the regulation authority register number is 79676. However, please be informed that the Prudential Regulation Authority is not the forex regulator in the UK. Besides, FXY Trade claims to be fully regulated by ESMA, FCA, and CONSOB. First, the European ESMA does not directly regulate entities engaging in forex services. Second, we did not find any match results to this broker in the UK FCA or the Italy CONSOB. The truth is, FXY Trade 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 FXY Trade?
If you have deposited with FXY Trade, 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.
Were you scammed by FXY Trade?
You may still have options. Our team can trace where your funds went and tell you honestly whether recovery is realistic — with a free, confidential case review.
Start a free recovery review →Warning: never pay an upfront fee to anyone “guaranteeing” recovery. Cleverecovery does not guarantee outcomes.