The SCB adds Cryptoburst to its warning list On May 1, 2024, the Securities Commission of The Bahamas (SCB) added Cryptoburst to warning list for offering financial services or products without their permission. https://www.scb.gov.bs/wp-content/uploads/2024/05/Public-Notice-4-of-2024-Entities-Not-Regulated-by-the-Securities-Commission-of-The-Bahamas-May.pdf

BrokersView has reviewed that Cryptoburst is an unregulated broker Cryptoburst, which claims to be registered with the Securities Commission of the Bahamas (SCB), has been added to the SCB's warning list, refuting such a claim. This is a significant indicator of a scam.Although Cryptoburst, a forex broker, purports to be domiciled in the US, there are no indications that it is registered with the National Futures Association (NFA). This suggests that Cryptoburst is operating in the US without authorization.Furthermore, the link labeled "Why Cryptoburst" leads to a "404 Not Found" page, indicating issues with the company's resources and reliability.In essence, Cryptoburst is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.Cryptoburst appears to be a scam.

BrokersView has identified that Cryptoburst's website is currently offline BrokersView found that the domain "https://cryptoburst.live/cryptoburst.live/en/index.html" is currently inaccessible. This is widely regarded as a significant red flag, as the suspension of a broker's website often points to underlying regulatory or operational issues.

How much commission should I pay on Cryptoburst? We strongly advise against trading with Cryptoburst, an unregulated forex broker.Despite the claim of being located in the US, Cryptoburst fails to adhere to pertinent regulations. There are no indications that it is registered as member of the National Futures Association (NFA). What's more, the broker's assertion of being authorized by the Securities Commission of the Bahamas (SCB) has been refuted by the SCB itself. The SCB has added Cryptoburst to its warning list, flagging it as an unauthorized entity.Therefore, Cryptoburst poses substantial risk of fraud and identity theft. Investors dealing with this unregulated broker run risk of losing their funds. To have a safer trading environment, it is strongly advised to steer clear of unregulated brokers like Cryptoburst and instead choose fully regulated ones. View Source