On July 25, 2023, the Federal Financial Supervisory Authority (BaFin) issued a warning against GStyx Group (STYXTrade Group), saying it is providing financial and investment services via the website without the required authorisation and is in no way connected to the company Stockstech Investments Limited, an authorised firm by the CySEC. https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2023/meldung_2023_07_20_styxtrade_en.html

GStyx Group (STYXTrade Group) claims it is licensed by the Cyprus Securities and Exchange Commission (CySEC). However, the Federal Financial Supervisory Authority (BaFin) warns consumers about the website styx-trade.com, saying it is providing financial and investment services via the website without the required authorisation.

Furthermore, the German financial regulator has confirmed that the CySEC-authorized firm Stockstech Investments Limited is in no way connected to GStyx Group (STYXTrade Group). This appears to be a case of identity theft.

In essence, GStyx Group (STYXTrade Group) 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. It is unequivocally a scam.

On September 25, 2023, the Comisión Nacional del Mercado de Valores (CNMV) added GStyx Group (STYXTrade Group) to its warning list for providing investment services without authorization. https://www.cnmv.es/Portal/ResultadoBusqueda.aspx?tipo=1&sortExpression=Fecha&sortDirection=1&page=0