Have you been scammed by Syos Space? Read on to discover how Global Assets Refund can help you get your money back from Syos Space.
Syos Space says it is a broker with a good reputation that helps more than 22 million active traders around the world. We don’t believe this because Austrian financial authorities recently warned that the website is a scam.
So, if you’re still thinking about trading indices, agricultural commodities, Forex pairs, stocks, precious metals, oil, and cryptocurrencies with the ostensibly tight spreads advertised on the website, think again.
In this article, we will explain why you shouldn’t trust Syos Space and how you can get your money back if you have been scammed by Syos Space.
Things to Know About Syos Space
Regulation and Safety of Funds
The regulatory status of a financial services provider is the most important piece of information. Licensed brokers give detailed information about the company that owns them, where they are based, which jurisdictions they are authorized in, and which regulatory bodies oversee their operations.
According to the website’s homepage, Coconors and Partners LLC, a Saint Vincent and the Grenadines-based business, is in charge of running Syos Space.
A company like this can be found among those registered with the SVG. However, this does not guarantee customer protection. SVG is an offshore jurisdiction with no broker regulations. When you visit the local Financial Services Authority’s website, you will notice that the institution does not license forex and other types of brokers and does not supervise the activities of international business companies engaged in such activities.
It should be noted that the name of this legal entity is not mentioned in the text of the Terms and Conditions or any of Syos Space’s other documents. Furthermore, the terms and conditions refer to Poland as the applicable jurisdiction. Such disparities are a clear indication that we are dealing with fraud rather than an unregulated offshore broker.
If you plan to invest in financial instruments, beware of the many imposters that can be found online. Always double-check that the broker you choose has the necessary licenses.
It is advisable to work with authorized companies that are supervised by institutions like CTFC (Commodity Futures Trading Commission), FCA (Financial Conduct Authority (FCA), ASIC (the Australian Securities and Exchanges Commission), or an EU regulator such as CySEC (the Cyprus Securities and Exchange Commission) has numerous advantages.
Bonuses With Excessively High Withdrawal Requirements
As appealing as a trading bonus may appear, as offered by scam sites such as the one we’re discussing in this article, it usually comes with certain conditions (such as minimum trade volume requirement), which effectively prevents you from making any withdrawals regardless of how you trade or what you do.
So, aside from avoiding unregulated brokers entirely, our best advice in such cases is to always read the details, especially when it comes to trading bonuses or promotions.
You should also be aware of high handling and withdrawal processing fees, and “profit fees,” which you will be required to pay every time you request a withdrawal, regardless of whether your request is later approved or not. The irony is that these fees can easily be more than 20%, which is just crazy.
Also, keep in mind that any broker who promises you guaranteed returns or risk-free trades is trying to con you. On the other hand, brokers who are legal and regulated are required to tell you about the risks of trading leveraged instruments and how likely it is that you will lose your money.
Deposit and Withdrawal Fees and Methods
Deposits into Syos Space can only be made with cryptocurrencies. Scammers prefer cryptocurrencies because they do not allow for refunds. Although some legit brokers accept Bitcoin, they partner with transparent payment methods like credit/debit cards, bank transfers, or popular e-wallets such as Neteller, PayPal, Skrill, or Sofort.
The terms and conditions contain typical scam provisions. If the account has been credited with a bonus, withdrawals are only possible after meeting extremely high minimum trading volume requirements—25 times the bonus plus the deposit.
Have You Been Scammed By Syos Space? Here’s What You Should Do
You must exercise extreme caution to avoid falling into the hands of other scammers. You can request a chargeback if you used a credit or debit card for the transactions. Visa and MasterCard both have a 540-day grace period for such requests.
However, keep in mind that if you provide a copy of your ID and proof of address, fraudsters may contest your claim. It would also be beneficial if you alerted authorities in your country and other people online to the scammers’ activities.
Global Assets Refund can assist you with fund recovery. Without the assistance of a professional, recovering your money from Syos Space (or any other scammer) can be a difficult process. Global Assets Refund’s fund recovery experts can assist you in recovering your funds from Syos Space.
Why Choose Global Assets Refund to Get Your Money Back from Syos Space?
You can have confidence in us because we have years of experience dealing with online financial and cyber fraud.
We know how to get money back from online accounts, credit card payments, wire transfers, and transactions with cryptocurrencies. We can assist you in disputing and recovering your stolen funds.
We provide complete transparency throughout the process and invite you to look up our registration information or come meet us in person. The service is simple to use and produces results.
Syos Space is an unlicensed broker. This means that it is not authorized to provide financial services in any jurisdiction. Unlicensed brokers are untrustworthy because they are not subject to government regulation.
So you should avoid this broker because it is anonymous and could disappear with your money at any time. We also looked in online forums, but all we could find was bad feedback from people who were unhappy with this broker.
Users have complained that they are unable to withdraw funds. Judging from these user reviews, it appears that Syos Space is a broker attempting to defraud people, which is why we strongly advise against investing through their brokerage platform.
Have you been scammed by Syos Space and need professional help in getting your money back? Get in touch with us to get started.