Onyx Trade Group

Onyx Trade Group is a financial services provider registered in Saint Vincent and the Grenadines, a jurisdiction known for hosting offshore financial firms. The company was founded on 11 May 2021 and operates under the domain onyxtradegroup.uk. Its registered address is First Floor, First St Vincent Bank LTD Building, James Street, Kingstown, St Vincent and the Grenadines.

As of the time of writing, Onyx Trade Group holds no known regulatory licences from any major financial authority. This absence of oversight is a significant factor for traders to consider, as it means the broker is not subject to the capital adequacy, client fund segregation, or dispute resolution requirements that regulated brokers must meet.

FXCanary's research indicates that Onyx Trade Group has not been authorised or licensed by any recognised regulator, such as the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), or the Australian Securities and Investments Commission (ASIC). Registration in Saint Vincent and the Grenadines does not equate to financial regulation; the jurisdiction's financial services authority does not supervise forex or CFD brokers.

This lack of regulatory oversight elevates the risk profile for potential clients. Without a regulator, traders have no recourse to an ombudsman or compensation scheme if disputes arise. The FXCanary Scam Risk Score for Onyx Trade Group is 51 out of 100, indicating an elevated level of risk.

Due to the scant independent information available, it is not possible to detail the specific products or services offered by Onyx Trade Group. Based on the typical profile of similar entities registered in St Vincent and the Grenadines, it is plausible that the broker may offer leveraged trading in forex, CFDs on indices, commodities, and cryptocurrencies. However, without access to the official website or verified marketing materials, these remain assumptions.

Traders should be extremely cautious when engaging with any broker that lacks transparency about its offerings. The absence of clear information regarding account types, trading platforms, spreads, and leverage is itself a red flag.

No confirmed details are available regarding the account types or trading platforms offered by Onyx Trade Group. Commonly, offshore brokers provide a range of account tiers (e.g., Standard, ECN, VIP) and use platforms such as MetaTrader 4 or 5, but these cannot be verified for this entity.

Potential clients are strongly advised to seek out brokers that openly disclose their trading conditions and platform details. Without such information, it is impossible to assess the suitability or competitiveness of the broker's offering.

Given its unregulated status and offshore registration, Onyx Trade Group likely targets traders who are willing to accept higher risk in exchange for potential anonymity or flexible trading conditions. This could include experienced traders familiar with offshore brokers, as well as traders from regions where local forex options are limited.

However, the lack of regulatory protection makes it unsuitable for most retail traders, particularly those who prioritise safety and transparency. FXCanary advises all traders to prioritise brokers regulated by top-tier authorities.