ANSWER If you are looking to engage with FxBay, we strongly suggest you drop that plan. If you have opened an account with this fraudulent platform, we advise you to proceed with extreme caution and have no further dealings with it. FxBay is an unlicensed broker carrying significant risks, such as financial losses and identity theft.FxBay claims to be operated by FxBay Live Limited, an International Business Company registered in St Vincent and the Grenadines with Registration Number 25690BC2019. However, neither the company name nor the license number can be found in the register of the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA). This means the license information provided by FxBay is false. Furthermore, the offshore financial watchdog has explicitly stated that entities engaging in forex trading and brokerage are not licensed from this jurisdiction. As such, even if FxBay's SVG FSA registration were real, the investment services/products it offers remain unlicensed.In conclusion, FxBay is an unlicensed broker. Without regulatory oversight, investors using this platform are not protected from fraud or theft. Therefore, we strongly suggest investors stay away from unlicensed brokers like FxBay and instead choose a fully regulated one.
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