Onyx Traders Review

Read our Onyx Traders review to see if we recommend this broker for trading. Just to clear doubts, this is an onyx-traders.com review.

Who are they?

After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.

So Onyx Traders is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.

How does it work?

Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.

Withdrawing funds

You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.

If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.

How to get your money back?

If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.

The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.

What about wires?

If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.

Make sure you leave reviews about Onyx Traders in other sites

Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.

Onyx Traders Review Conclusions

Making the Onyx Traders review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Onyx Traders review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected].
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.



  1. Onyx They take your money make you feel as if you will make lots of money and then ignore you when they don’t do as they say and you try to close your account so they can keep your money


  2. Very unfortunate I fell victim to these fraudsters . Initially I made a small deposit and within short time the returns was very impressive , I was assigned an account manager called David who related very well and proved very helpful. I was also convinced to think the platform was a legitimate one by their initial compliance requirement . Now, before Christmas the so call account manager has convinced me about santa claus rally and how they made money in the past for their customer and that I need to bring more money to take advantage of that and if I like withdraw the money after the event . The pressure continued intensely and I did transfer more funds. Just before the year that account manager had disappeared . Later they told me he left the company. I have been trying since beginning of January to make a withdrawal to no avail. I was assigned another account manager who promised he would call but never calls and does not return my emails. Just overnight I signed in to my account and noticed that they put in a trade resulting in a significant lose putting my account to a negative balance, all my money gone. Now the response to my withdrawal request is that I don’t have sufficient balance to withdraw. When I tried to contact the account manager this time he replied to my email that I should check my account trade history. I requested him to call me but he refused . I have been calling their so called compliance and support line but no one would pick the call. This is 100% scam . I advise everyone to stay clear away from them . Don’t fall victim like me, I should have known better.

    • OMG this exact same thing has just happened to me. I ‘invested’ $28,000 over time which turned into $46,632 apparently. When I asked to withdraw they convinced me that I would get my money after paying brokerage and termination fees of $4196 so I did this stupidly, thinking I can take that loss after making so much. Haven’t heard from them since, not answering the emails, I have called their ‘customer service’ who promise to pass on messages to no avail. Edward Foreman, Thomas Dragan, Pamela Rossi, Chris Moser and Paul Eric Krause are all the biggest scammers. I have just got in touch with Broker Finance Watch to try and get my money back. Even if I get less than what I invested, I just want to get them!

  3. Son unos estafadores. Solicitan mínimo 250€ para la apertura de la cuenta, luego piden más capital y si no es posible ya no sabes de ellos. Solicite el retiro de mi dinero y han desaparecido.


  4. I was really dumb and had a very hard sell guy that tried to get me to put a fortune on CC’s and also asked me to open a loan for 30K.I said they had 3 K and that was it and they cut access to my account right away.I can no longer login and am going to have to go through a maze to attempt to recover something?These guys are very good at convincing you they care and are going to help you.They will just take your money.

  5. Previously they were working as onyx-traders.com and now they changed to onyx-traders.net. beware of these scammers. i got into their scam trap on 11th of sep 2022 with small amount of $250 and they siphoned $20000 till January 11th 2023. They sucked all my hard earned money and never returned anything, There were two agents Mark Smith and Carol Hill both are expert scammer agents. Never get trapped in this fraud co on they will bring you on road.



Please enter your name here
Please enter your comment!

This site uses Akismet to reduce spam. Learn how your comment data is processed.