Warning against trading securities with Bybit

Published 30-09-2024

The Danish Financial Supervisory Authority (DFSA) warns the public that clients are not ensured investor protection when trading securities with the investment platform Bybit.

It has come to the attention of the DFSA that Danish consumers are being solicited to invest with the investment platform Bybit. The solicitations are communicated by the firm iGenius LCC, which is promoted in Denmark by Danish members of the network. The persons pledge that members of the network can achieve financial independence through investment.

The company uses the website www.bybit.com.

The company has no authorisation to operate as an investment firm in Denmark. If you use an investment platform without a license to trade financial instruments, you are not ensured investor protection. This means, among other things, that investors cannot issue a complaint to The Danish Financial Complaint Board and that the investments are not covered by the Danish Guarantee Fund. Thus, it is unlikely that you will get your money back if things go wrong.

The Danish FSA's business register contains information on which companies are authorised to offer financial services in Denmark.