Broker Review

Unauthorised Firm Details
Name: Niyafafx.com
Website: niyafafx.com

Platform Overview

NiyaFA FX presents itself as a global trading platform offering access to various financial instruments, including forex, stocks, indices, commodities, and cryptocurrencies. The website claims to provide features such as commission-free trading, ultra-tight spreads, and negative balance protection. It also advertises a secure WebTrader platform with bank-grade encryption.

Regulatory Concerns

NiyaFA FX claims to be registered under the Money Services Business (MSB) with a license number. However, independent evaluations have highlighted the absence of valid regulatory information on NiyaFA FX’s website. The platform does not disclose any office address or provide verifiable regulatory credentials, raising concerns about its legitimacy.

Independent evaluations have confirmed that NiyaFA FX is not registered or regulated by the National Futures Association (NFA), the primary regulatory body for forex brokers in the United States. This lack of oversight from recognized financial authorities is a significant red flag and strongly indicates a high risk of fraudulent operations.

Trustworthiness and Transparency Issues

NiyaFA FX has been assigned a very low trust score by multiple independent evaluators, citing factors such as hidden WHOIS data, a young domain age, and the absence of positive user reviews. These indicators suggest that the website may be a scam.

Additional assessments have flagged NiyaFA FX as a suspicious website due to its low trust score and potential security risks. The platform may engage in questionable practices or pose cybersecurity threats to users.

User Experiences and Reports

Reports from users indicate difficulties in withdrawing funds from NiyaFA FX. Some users have reported that they were told there was a “rolling credit” on their account that needed to be cleared before they could release the funds, a tactic commonly associated with scams.

Independent reviews and user reports raise additional concerns about NiyaFA FX, including slow customer service response times and a lack of transparency regarding company information.

Conclusion: Exercise Caution

Given the regulatory concerns, lack of transparency, low trust scores, and negative user experiences associated with NiyaFA FX, investors are strongly advised to exercise caution. Engaging with unregulated platforms can expose individuals to significant financial risks, including potential loss of funds and exposure to fraudulent activities. It is recommended to consider alternative brokers that demonstrate verified regulation, transparent operations, and a proven track record of reliability.