Is Cyberbyte a Scam?

When we at FXCanary sit down to judge whether a broker is safe to trade with, we do not rely on marketing pages or a broker's own claims about its trustworthiness. Instead, we build a picture from verifiable public records — regulatory registries, company registers, official domains — and we weigh that against what we can actually observe about the broker's operations. A broker that publishes a licence number, for example, gets checked against the regulator's own database; a broker that claims a physical address gets cross-referenced with corporate records. Only when a claim survives that verification do we treat it as fact.

For Cyberbyte, the raw material is thin. The company is registered in the United Kingdom as Cyberbyte ltd, with a founding date of 2 November 2022, and it holds a single licence on file from the Malta Financial Services Authority (MFSA) for Market Making (MM), licence number C 56519, located in Malta. Yet our records also show zero employees and no verifiable website or social-media presence beyond the official domain cyberbyte.live. That combination — a licence on paper, but almost no operational footprint — is exactly the kind of profile that demands caution. In our assessment, the absence of independent user reviews, the lack of a visible trading platform, and the minimal public footprint all feed into a Scam Risk Score of 43 out of 100, which we classify as 'Guarded'.

The MFSA is Malta's financial services regulator, and it is generally regarded as a serious, EU-aligned authority. A Market Making licence from the MFSA is not a trivial credential — it implies that the entity has passed some level of regulatory vetting and is subject to ongoing supervision. For a trader, that can offer a degree of comfort: the regulator has the power to investigate complaints, impose sanctions, and, in theory, revoke a licence if the firm misbehaves. We cross-checked the licence number C 56519 against the public register, and it is consistent with the details in our records.

However, an MFSA licence is not a guarantee of safety, and it certainly does not mean the broker is covered by a compensation scheme in the way that, say, a UK FCA-regulated firm might be. Malta's investor compensation scheme does exist, but its coverage is limited and its application to a Market Making firm is not automatic. More importantly, the licence on file is for Market Making — an activity that involves the firm acting as a counterparty to trades — which is a different risk profile from a broker that simply routes client orders to a liquidity provider. In plain terms, when a broker is the market maker, it is on the other side of your trade, and its incentives are not always aligned with yours. That is not inherently a scam, but it is a structural feature that a cautious trader should understand.

One of the first questions we ask about any broker is how client funds are held. Under EU rules, including those enforced by the MFSA, client money should be segregated from the firm's own operating funds. That means, in theory, your deposits should not be used to pay the broker's bills, and if the broker goes bankrupt, your money should be ring-fenced from creditors. For Cyberbyte, we have no public evidence that client funds are segregated, and we have no disclosure of any specific bank arrangement. That absence of information is itself a red flag — a legitimate broker usually wants to show you how your money is protected.

Compensation schemes are another layer. In Malta, the Investor Compensation Scheme covers certain investment services, but its limits are modest and its application to forex and CFD trading is not always straightforward. We cannot confirm that Cyberbyte participates in any compensation scheme, and the licence details on file do not specify one.

Negative balance protection — the promise that you cannot lose more than you deposited — is also not disclosed anywhere in our records. For a retail trader, that is a meaningful gap: without negative balance protection, a sharp market move could leave you owing money to the broker. In our assessment, the lack of any published client-fund protection details is a significant weakness in Cyberbyte's safety profile.

A name like 'Cyberbyte' is generic enough that it could easily be confused with other entities, and that is precisely the kind of situation where clone scams thrive. A clone is a fraudulent website or firm that adopts a similar name, a similar logo, or a similar domain to a legitimate broker, in order to trick traders into depositing money with the impostor. In our records, we found zero clone or impersonator sites for Cyberbyte — which is good news, but it is also a reflection of how little public footprint the broker has. If a broker is barely visible, there is less incentive for scammers to clone it, but there is also less for a trader to verify against.

That said, the risk is not zero. We have seen cases where a broker with a thin online presence is impersonated by a site that adds a single letter to the domain or uses a slightly different top-level domain. For Cyberbyte, the official domain is cyberbyte.live — a .live domain, which is unusual for a financial services firm.

Legitimate brokers typically use .com, .net, or a country-specific domain, and .live is more commonly associated with streaming or entertainment sites. That choice, combined with the lack of a verifiable website, makes it harder for a trader to be sure they are on the real site. Our advice is to treat any communication from 'Cyberbyte' with suspicion, and to always navigate to the broker's site by typing the domain yourself, rather than clicking a link in an email or a social media message.

Cyberbyte has no independent user reviews that we could find. That is unusual for a broker that has been registered since 2022 — by now, a legitimate broker with active clients would typically have accumulated at least a few forum posts, review comments, or social media mentions. The total silence is a warning sign. It could mean the broker has very few clients, which is possible for a new or niche firm, but it could also mean that the broker is not actually operating as a retail-facing service, or that its operations are so opaque that no one has been able to form a public opinion.

We treat the absence of reviews as neutral-to-negative in our scoring. It is not proof of a scam, but it is proof of a lack of transparency. A trader who cannot find a single independent comment about a broker is effectively flying blind.

In our editorial experience, brokers with a clean regulatory record and a real trading operation almost always generate some public chatter — even if it is just a handful of complaints or questions. The fact that Cyberbyte has generated none suggests that either the broker is extremely new to the retail market, or that it is not operating in a way that leaves a trace. Either way, a cautious trader should demand more evidence before committing funds.

Our records show that Cyberbyte has zero employees on file. That is a striking figure for any company, let alone one that holds a financial services licence. It could be that the company is a shell or a holding entity, with operations outsourced or run by a small team that is not listed in the registry.

It could also be that the company is not yet actively trading. But from a safety perspective, zero employees means there is no one we can point to as a responsible person, no named compliance officer, no public-facing team. That makes it very difficult for a trader to know who they are dealing with.

The registered address is 168 St Christopher Street, Valletta VLT 1467, Malta. That is a real street in Malta's capital, and the address is consistent with the MFSA licence. However, a registered address is not the same as an operating address — many firms use a registered agent or a serviced office.

We have no evidence that Cyberbyte actually operates from that location, and we have no verifiable website content beyond the domain registration. In our assessment, the combination of zero employees, a generic address, and an unverifiable website means that Cyberbyte's operational transparency is very low. That is a major factor in our 'Guarded' rating.

If you are still considering trading with Cyberbyte, we would urge you to take a series of practical steps before depositing a single cent. First, verify the licence directly on the MFSA's official website — do not take our word for it, and do not trust the broker's own website. Search for 'C 56519' and confirm that the entity name matches 'Cyberbyte ltd' and that the licence is currently active. If you cannot find the licence, or if the details do not match, that is an immediate red flag.

Second, test the broker's customer support. A legitimate broker should have a working phone number, a live chat, or at least a responsive email address. Send a question and see how long it takes to get a reply, and whether the reply is substantive.

If you get no response, or a generic automated message, that is a bad sign. Third, look for any independent mention of the broker on forums, social media, or industry databases. We found none, but you should check again at the time you read this — the situation may have changed.

Finally, start with the smallest possible deposit, and withdraw it quickly to test the process. If the broker delays or refuses a withdrawal, that is the clearest possible warning that something is wrong.

In FXCanary's assessment, Cyberbyte is not an obvious scam — there is no evidence of fraud, no known complaints, and the MFSA licence is a genuine credential. But the broker is also not a safe bet in any meaningful sense. The lack of a verifiable website, the zero employee count, the absence of user reviews, and the lack of any disclosed client-fund protections all combine to create a profile that we would describe as 'Guarded'. That means we cannot recommend it, but we also cannot condemn it outright.

The safest interpretation is that Cyberbyte is either a very early-stage operation that has not yet built a public presence, or a firm that is not actively serving retail clients. In either case, a trader who chooses to engage with it is taking on a level of risk that we would not accept for ourselves. Our advice is simple: if you cannot verify a broker's operations independently, and if the broker cannot demonstrate a clear track record, then the prudent move is to walk away. There are many well-regulated brokers with transparent operations and a long history of client service; Cyberbyte, at least for now, is not one of them.