Trubyx Review: The Truth About Trubyx.Com Brokerage
Trubyx Review, Where do we start? Scammers claim their company HQ is in the UK, but that it is registered in the Marshall Islands. Of course, this claim is completely false, as there are no entities named Trubyx registered in either of these countries.
The alleged name of the parent company is Smart Solution Corp, and this entity is not registered in the Marshall Islands or the UK either.
So, who is behind Trubyx anyway? This question is difficult to answer. There is just so much misinformation on these swindlers we can hardly fit all of it in this Trubyx Review. One thing is certain, though. The Central Bank of Russia has issued a scam warning about this company.
- You can see the CBR warning:
Smart Solution Corp.
|Address||15 Golden Square, London W1F 9JG, United Kingdom (alleged)|
|Bonuses||15% up to 100%|
Is Trubyx Legit? Regulation and Safety of Funds
In the sea of lies that is Trubyx, there is one thing that we can be positive about: this entity is completely unregulated. The Marshall Islands, as a nation, do not have a trustworthy financial regulator. Not every broker that is registered in the Marshall Islands is a bad apple, but the statistics, however, are quite bleak.
For this reason, we have turned to GLOFSA, a non-governmental regulatory organization that seeks to improve Marshall Islands’ business conditions. GLOFSA did not have any information about either Trubyx or their parent company, Smart Solution Corp, which means they are not a registered entity in the Marshall Islands.
The scammers claim to operate from an address in the UK. The UK is a developed nation that has an excellent legal framework and is one of the best financial regulators on the globe. This esteemed agency monitors more than 50,000 companies for fraudulent behavior.
Brokers that wish to start their business in the UK must adhere to some of the most rigorous regulatory standards. This is what they must provide:
- A starting capital of £730,000
- An insurance fund of £85,000
- Leverage no larger than 1:30
- Negative balance protection
- Segregated bank accounts
- Regular and transparent transaction reports
- No bonuses are allowed
The UK’s FCA did not have information on Trubyx either. While checking other regulators for any information, we have come across a scam warning. This document was issued by the Central Bank of Russia, another strict agency.
Trubyx Trading Platform Overview
Trubyx offers a simple, but easy-to-understand trading platform. It is a web trader in essence and allows trading from a mobile device as well. This is where the good stuff ends. The platform lacks any in-depth utility, and in all honesty, is just a gateway for deposits.
Scammers are known to tailor the trading data in order to get more money from their traders. Trubyx is not an exception to this. This is why authorized brokers use high-quality platforms like MT4 and MT5 instead. These programs offer solid security, excellent market execution speeds, and great versatility.
Account Type Offered at Trubyx
There is quite a long list of trading accounts with Trubyx. You’d think, at first, sight, that the accounts in question offer different market conditions. Once you take a moment for a closer look, you see that nothing besides the required investment changes between them.
These are the accounts Trubyx offers:
- Regular – min. Investment $250
- Bronze – over $1,000 invested
- Silver – over $10,000 invested
- Gold – over $25,000 invested
- Platinum – over $50,000 invested
- Diamond – over $100,000 invested
- VIP – over $250,000 invested
- PRO – a million dollars + invested
Of course, there is no demo account. Scammers don’t want you to learn, they want you to keep making the same mistake, and keep throwing your money away. This is why they always have tiered accounts like these, and this is one of the red flags when encountering such a broker. Remember, regulated brokers often offer their services with less than $100 in deposits.
Trubyx Funding Method
Account funding at Trubyx is effectuated through Cryptocurrency, Bank Cards or Bank Wire transfers. Crypto transfers are handled through OnlineMT4, Bank Cards through a service called Payola, and Bank Wires through a “bank” named Paysera. The given address for the bank account holder is a tourist lodging venue in Barcelona.
The only way to learn how the withdrawals are made with Trubyx is in the Terms and Conditions. This document is copied from yet another forex broker scam, named Invest505. Trubyx is truly an onion that has layers of scam after scam.
The document says that the company does not charge any fees, but that some transfer fees do apply. Make up your mind, will ya? There is a minimum trading volume requirement, as is the norm with these scams. Of course, it is 25x the allowed bonus, which is nearly impossible to achieve.
How is Fraud Orchestrated?
Now that we have analyzed all this, it’s not difficult to see how the scam unfolds. Trubyx targets people who are newcomers to the Forex scene with promises of lucrative deals. Their entire scam fulcrums on the idea of large, and recurrent investments.
In return, they promise greater potential profits. Scammers have made their withdrawals incredibly difficult, and charge large hidden fees for them.
Untrustworthy companies like Trubyx use deception to squeeze the deposits from their clients. Trubyx is completely unregulated, and its fraudulent behavior has caught the eye of the Russian CBR.
The web platform at Trubyx is simple and does not offer much utility. Deposits are handled through dubious intermediaries, and withdrawals are blocked by hidden requirements. If you value your money, you will stay away from Trubyx.
FAQs About Trubyx Broker
What Can I Trade with a Trubyx Broker?
Trubyx allows trading Cryptocurrencies, Forex, Commodities, and Indices.
What are the Available Methods of Withdrawal?
Withdrawal methods include Bank Cards and Bank Wire transfers.
Is Trubyx Broker Regulated?
No, Trubyx is an unregulated broker. CBR has issued a scam warning about this entity.