This OnyxTraders review discloses the ugly and filthy ways in which onyx-traders.com is robbing investors in broad daylight.

First things first, we’re not sure if Onyx Traders is associated with this scammer here. There’s a high probability because the guy is a seasoned trading education charlatan, and it will not surprise us if this time round he has a new project.

Welcome to the OnyxTraders review and if you have been scammed, our best advise is to recover your money here.

The narrative of these scammers is that OnyxTraders is a ‘well-established’ financial institution offering an award-winning trading platform.

As we go through the onyx-traders.com website, we can’t help but spot multiple red flags here and there.

Can you trust this so-called Forex and CFDs broker with your money? Absolutely not, and we will give you reasons why.

OnyxTraders (onyx-traders.com) review and overview

We’re pretty much done with their lies by the time we settle down for a review like this. We start by looking at the time in which OnyxTraders was launched.

This tool reveals that the domain was registered sometime in July 2022. The website is less than a year old and as always, we discourage trading or investing with new platforms. Most of them have a hidden agenda until they prove themselves to be worthy of competing with established brokers.

The broker is claiming to be from Switzerland. Their website also contains a bunch of phone numbers with the intention of fooling prospective customers that they have active offices in the suggested countries.

These days scammers can acquire phone numbers from any country, thanks to technology. We’re not going to cover more about this as we need to tackle issues like OnyxTraders operating license, reputation and other signs that may suggest that they’re out to rob you guys.

So far, we’ve noted that the ‘broker’ is offering illegal securities for trading but this time they’re tempting investors to use their so-called ‘managed accounts’.

The scammers want to start you off with a minimum deposit of €1500 and this is where things get quite interesting.

You’ll notice that there are various ‘account types’ that require astronomical amounts of money in order to sign up for.

These account types are a trap. The fraudsters behind OnyxTraders will use this trick to persuade you to invest more money.

Typical conman’s line includes telling you that you should deposit more money in order to make more money quickly. They may not use the exact words since their language evolves everyday but rest assured the phone calls and emails that you will receive will have one request: and that is to add more money.

Most victims who lost funds from these indecent and shameless brokers reported losing huge amounts of money rather than the bare minimum that’s required to start the trading/investing.

This is because the crooks somehow convinced the victim to put more money into their platform which they end up stealing anyway.

The questions we must ask here are as follows:

1)Who is managing their clients’ accounts and what’s their qualification?

2)Who has authorized OnyxTraders to provide this financial service to investors?

3)Why is the account type description opaque such that they’re talking about managed accounts and also referring to self-trading accounts at the same time?

4)Do we have any real client feedback to ascertain that this broker is legit?

OnyxTraders questions answered (and you’ll be surprised)

The broker is pretending that their company name is ONYXTRADERS INC. Our investigations into the affairs of this ‘company’ did not yield any results. It seems the scammers just decided to add the word Inc in order to give them a veneer of legitimacy.

As a matter of fact, there is no company behind onyx-traders.com website.

The operators of this website are also anonymous as our efforts to trace their details were futile. Mentioning a Switzerland address isn’t enough as scammers have a habit of cooking up an address and slapping it on the contact us page.

As for the type of service that this so-called broker is offering, it would need a proper license from a strong financial regulator. That would be the only assurance that their clients’ funds are safe.

Do we have any license on this illegal website? Again the answer is no. This means the broker is an illegal custodian of your funds and they can refuse with your money as they wish.

Furthermore, an unregulated broker like OnyxTraders has the freedom to manipulate your trades by widening the spreads and intentionally closing your trades either through hunting your stops or pretending that a technical problem is what caused your trades to end prematurely.

They use all sorts of tactics and if they’re pushed to the wall, they would rather not reply to your emails or process your withdrawal requests at all.

The broker has also refused to discuss when a trader is allowed to trade for themselves and when they are required to seek the so-called managed account service.

The platform seems to be primarily concentrating on managed accounts. Therefore, we see no reason why they should talk about leverage and trading analysis.

Additionally, we’ve seen a couple of ‘reviews’ praising this broker. Note that the credibility of these reviews is suspicious. Their sources can’t be verified but one thing we’re sure is that they’re sponsored by the company.

It is also possible that these reviews are originating from the premises of this broker, meaning that employees are the people who post them on the internet.

What you should do after you have been scammed by this fake broker

They have a wide range of tactics to use on unsuspecting investors. They use boiler room telemarketers and they even invade your whatsapp to pitch useless investment opportunity.

When you are ready to invest, they push you to open an account with OnyxTraders. Once you transfer funds to the illegal platform, they will play reverse psychology on you just like these scammers are doing. This is to get you to deposit more money.

Before you know it, you’re in with a lot of money at stake. If this is your situation, do not panic. Relax and fill up this form for help with getting back your money.

Wrapping it up

No money for you. This is not an investment because it’s a scam. You can’t trust anonymous people to ‘manage your money’. That money is theirs’ the moment it lands into their bank account. Pretty simple!

What we need to do is to stop falling for these scams. And if you have been robbed already, our advise is sufficient enough to recover your lost funds.

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