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Vytex

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Operating status: SCAM

Website: https://www.vytexus.com/

Broker violations and abnormal records
  • 2023-11-07 BrokersView has reviewed that Vytex is an unregulated broker

    Vytex claims to be a forex broker headquartered in the US with a so-called license issued by the "Financial Corporation & Authority". However, there is no such agency in the US. 

    As per US law, forex brokers are required to be regulated by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), and therefore they need to be registered as an NFA-member. However, our search for this company in the NFA registry didn't yield any results. This means it operates outside of the regulatory framework.

    In essence, Vytex is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.

    Vytex is unequivocally a scam.

    Vytex claims to be a forex broker headquartered in the US with a so-called license issued by the "Financial Corporation & Authority". However, there is no such agency in the US. As per US law, forex brokers are required to be regulated by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), and therefore they need to be registered as an NFA-member. However, our search for this company in the NFA registry didn't yield any results. This means it operates outside of the regulatory framework.In essence, Vytex is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.Vytex is unequivocally a scam.

Related Complaints

Q&A

What's the leverage Vytex offer?

Marco Bennaiche
New Zealand
2023-11-16
ANSWER Given its unlicensed status, we strongly suggest you avoid Vytex.Vytex purports to be a US-based forex broker with a supposed license from the "Financial Corporation & Authority". However, no such agency exists in the US.According to US law, forex brokers must be regulated by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), necessitating registration as an NFA member. A search for Vytex in the NFA registry yielded no results, indicating that it operates outside the regulatory framework in this country.In short, there appears to be no evidence supporting Vytex's legitimacy in forex trading. Therefore, investing funds with this broker carries a high risk due to the absence of legal protections to secure the funds. We advise investors to choose fully regulated brokers to avoid falling victim to potential fraud and identity theft.
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