Cyber Rex Limited – Can You Trust Them?

Website URL: https://cyberexltd.com

Founded: 2008 – 2022

Regulations: No License

Languages: English, Indonesian

Deposit Methods: Cryptocurrencies

Minimum Deposit: $500

Free Demo Account: Not Available

Number of Assets: Unknown

Types of Assets: Trade Stocks, ETFs, Options, Mutual Funds, Forex, Cryptos

Trading Accounts and Conditions

Cyber Rex Limited does not specify what types of trading accounts they offer. All we know is that the minimum account opening deposit requirement is $500. Furthermore, this broker has also not specified what their trading conditions are. We know nothing of their spreads, order execution methods, fees or commissions, leverage ratios and so on.

Cyber Rex Limited – Advantages

There are no advantages to trading with Cyber Rex Limited.

Cyber Rex Limited – Disadvantages

Given below are all the issues we have found with Cyber Rex Limited that leads us to conclude that we are dealing with a scammer here:

• Lack of Regulation

Cyber Rex Limited claims to be a globally regulated broker. The broker claims to be the 4^th largest stock exchange listed stocks and CFDs broker in the world. They also claim to have offices in 13 different countries including the United Kingdom, Turkey, France, Poland and Germany. The broker also claims to be regulated by the top authorities in the world including the UK’s FCA, the Polish KMF and the Turkish CMB.

At the bottom of their home page, the broker claims that Cyberex Ltd Advisors Corporation is registered with the Securities and Exchange Commission, but does not specify which country’s SEC (the US has an SEC and so does Cyprus, just to name a couple).

All of the above claims are lies. Here is how we know.

First, a regulated broker would clearly provide all their corporate and regulation information. We would know exactly which company runs their online brokerage. We would have been given a real, physical address, contact numbers, email addresses and so on so that we know how we can connect with them. Such brokers would also provide us with all their regulation details – which regulator has authorized them, what their registration and license numbers are and so on.

With Cyber Rex Limited, all of this information is missing.

Despite this lack of information, we gave this broker the benefit of the doubt and checked with the various financial authorities that this broker claims have authorized them. We checked the FCA’s, KMF’s and CMB’s online registers. We found out that this broker is not listed with any one of these authorities. Which means that they have lied about being regulated by any of these authorities.

Thus, based on all our findings, we have realized that Cyber Rex Limited is actually an anonymous broker operating without a license – a scammer.

Plus500

$100

Minimum Deposit

Start Trading

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Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

 

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$100

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The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.

• Warning by FCA

While checking on Cyber Rex Limited’s regulation status, we found out that the Financial Conduct Authority in the UK has issued a warning against this broker. According to that warning, this broker is operating in their jurisdiction without being authorized by the FCA.

The FCA also warns their citizens that such brokers are usually scammers. The authority adds to that warning, stating that doing business with such entities would mean that the trader would lose protection from the FCA.

There cannot be a clearer indication of a scam than such a warning from one of the top financial regulators in the world.

• No Legal Documents

Another sign that we are dealing with a scammer here is the complete lack of legal documents anywhere on Cyber Rex Limited’s website. Despite looking everywhere, we could not find a single legal document.

These documents are the contract between the client and the broker. It details the services offered by the broker, as well as the terms for using those services. These documents clearly spell out the broker’s policies for use of their services, their fees, and so on.

If these documents are missing, and you still sign on with that broker, then you have basically given that broker permission to do what they want with your information and your money.

This is why it is so important to check for legal documents before you register with a new broker; you can save yourself from being scammed.

• Issues with Registration

We like to register for an account with the broker that we are reviewing. This allows us to assess their registration process. It also allows us to check the broker’s real trading platform and payments section – does it match what the broker claims on their website?

With Cyber Rex Limited, we did not get past the registration process. This broker demands that you provide them with sensitive personal information even before you have registered for an account with them. This information is usually requested only after you have created an account with a broker and it is used only for verification purposes – with guarantees of preserving the security of that information.

The lack of such measures and the need for this information clearly spells trouble.

• Unknown Trading Platform and Conditions

Since we were unable to create an account with this broker, we could not assess their trading platform. The broker claims that it is their trademarked home-made trading software. The lack of a branded trading platform is suspicious.

And, of course, the lack of all trading conditions is a huge cause for concern. Only scammers hide their trading conditions from their prospective clients.

• Single Payment Method

The fact that the only way to make payments is via cryptos points to a scam. Crypto payments are all anonymous and irreversible, which is why scammers love this payment method. There is no way to trace them once a transaction is complete. 

Conclusion

Cyber Rex Limited is a scammer and it would be best to avoid doing business with this broker.

Cyber Rex Limited

2.2

User Experience

2.0/10

Payment Options

2.0/10

Security

2.3/10

Support

2.1/10

Reputation

2.6/10

Pros

• None

Cons

• Lack of Regulation
• Warning by FCA
• No Legal Documents
• Issues with Registration
• Unknown Trading Platform and Conditions