In the first place, we have to clarify that this firm is not sharing any legal information whatsoever. Starting with legal name, contact details, legal representative, or addresses. Still, they expect you to trust them with thousands of dollars. Why?
Simply, once you go through all the checkpoints we present you in this Layray review, you will learn how to stay safe. But also, we suggest you check our Ontega review for some more clarity about the trading world.
| Regulated by: | No regulations |
| Is This Company Safe? | No |
| Known Websites: | www.layray.pro |
| Have Warnings from: | N/A |
| Registered in: | N/A |
| Operating since: | 2023 |
| Trading Platforms: | Proprietary platform |
| Maximum Leverage: | N/A |
| Minimum Deposit: | N/A |
| Deposit Bonus: | N/A |
| Trading Assets: | Stocks |
| Free Demo Account: | No |
| How to Withdraw from This Company? | With numerous negative comments about this company, it’s clear that withdrawals won’t ever happen. Therefore, if you have your money stuck with this firm, contact our refund experts immediately. |
Legal info: Is Layray Legit or a Scam?
Even at first glance on the company’s website, there are clear signs they can’t be legit. With quite a poor presentation, they want you to trust them with your hard-earned money. However, the company should first have a license to provide its stock investing services, especially since they offer stocks from the US and European markets.
However, looking at many top-tier regulatory databases didn’t bring any good results. Starting with the FCA, BaFin, CFTC, or ASIC, there’s simply no Layray regulation. With this in mind, it’s hard to believe the company would comply with any rules or legal prerogatives.
Who are Layray’s Victims?
Without necessary regulations, the company can’t offer services to countries requiring specific approvals. Yet, this firm doesn’t care about that. So, if you are coming from any of the following countries, be careful:
- United States
- Japan
- Canada
- France
- Australia
When you realize there are zero funds protection features available with this firm, you will wonder why people trust them. But that’s only because of shady campaigns that lure new traders to the company’s platform. Yet, to learn how to protect yourself and even recover the funds if needed, contact our chargeback team.
Traders Reviews
One of the best signs this company is a scam is the Layray reviews. Even though there are only two comments on Trustpilot, it’s enough to see the pattern. But also, there are numerous negative comments on the Layray app listed in the AppStore.
If this is not enough for you, you may as well check Reddit comments about this firm. In any case, these all lead to one conclusion. You won’t see any of your funds back unless you talk to our refund experts for alternative options.
Leverage, Commissions, Spreads, Fees and Taxes
Another clear sign you can’t trust Layray stocks trading platform is that they are hiding all conditions, starting with leverage, commissions, and fees. If you think about it, you won’t accept any deal if the cost is not revealed. So, why would you invest with this firm?
In addition to that, there is also Layray block trading, which is one of their main deals. Block trading enables portfolio managers to buy or sell a large volume of securities in a single trade, distributing them among multiple clients afterward. But here, as well, conditions remain unknown.
Bonuses
Generally speaking, scam firms usually offer bonuses to make traders deposit more money. But when it comes to withdrawals, numerous problems occur. Primarily due to the minimum trading volume traders are required to reach.
Yet, very often, traders don’t even know about it because it’s hidden in the bonus policy. Unfortunately, with this firm, none of the legal documents are available. Therefore, it remains a mystery if such options are available. Thus, be careful.
Layray Trading Features
All the features available with unregulated brokers are highly questionable. After all, they can tell you anything they want, but if they will comply with that, it’s always a gamble.
But you should be extremely careful with features like copy trading, algo trading, and block trading with unregulated brokers. All those features can be easily manipulated to make traders believe they are making money.
Trading Platforms Available
Another way to make all those manipulations happen is through the shady platform choice. If the company uses trusted options like cTrader or MetaTrader, customers may sleep tight.
However, if they are offering a web trader, like Layray company, watch out for unexpected and surprising results. Such as extremely high wins and losses.
Available Trading Assets
One of the biggest disadvantages of this firm is that they only offer stocks. Even though it might look attractive and reasonable, it’s a huge risk without adequate licenses.
Anyway, some of the options are:
Account Types
Another important thing about this firm is that Layray account options are missing. The company doesn’t even reveal the minimum deposit requirement, which is quite a big dealbreaker.
Still, if you see numerous negative comments about the firm, is there a reason to trust them?
Mobile Trading App
As mentioned, the company has developed a proprietary iOS trading app. However, trusting it might be a wrong move, especially after checking the app rating of 2.7 stars on AppStore.
On top of that, Android users don’t have such an option available, which is not that bad in the end.
Demo Account
If you were hoping to test the company’s features before deposit, forget about it. Obviously, the Layray scam firm is created with only one goal. That’s to extort money. So, why would they waste time with clients exploring through their shady platform?
Education
The key advantage of any successful stock investor is knowledge. Without it, it’s only luck that could help you make some money. Therefore, adequate stock trading education is highly recommended. Yet, Layray experts don’t have any available program for it.
Layray Withdrawal
Since the legal documents, withdrawal policy, and fees are missing, withdrawals practically become impossible. It’s just a matter of time before some issues will occur, such as extended withdrawal processing time, verification problems, and non-existent taxes. If you want to avoid those, read our tips from the IV Markets review.
Customer Support
Another clear scam sign is a lack of contact options with this company. In case you want to find out more about services, you have to register and hope for their response. Even though they provide live chat, it’s only available for registered users.
Key Information To Consider About Layray
There’s not even a single thing that should make you trust this firm. Firstly, they are not regulated by any reputable authority. Secondly, all the company’s services lack some important information. Not to mention countless negative reviews about its services.
In the end, if you experience any of the mentioned issues, there are two things you should do. Primarily, report it to the local authorities. But also book an appointment with our refund team. A completely free first meeting can reveal the necessary steps you should take to recover the funds. Book your meeting now.
FAQ Section
What is Layray?
Layray is an anonymous and untrusted stock investment firm that has been operating since November 2023.
Is Layray App Legit?
Not at all. In the first place, the company is not regulated anywhere. Secondly, the app has numerous negative reviews.
How to Get Money Back from a Trading Scammer?
Methods for getting the funds back depend on the payment methods used. Yet, even with crypto transfers, there’s a way for it. To find out the steps, contact us.
