Bryce Management review – 5 things you should know about brycemgmt.com

Bryce Management review – 5 things you should know about brycemgmt.com

Rating: 1

Beware! Bryce Management is an offshore broker! Your investment may be at risk.

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Bryce Management presents itself as an award-winning broker offering trading in cryptocurrencies, stocks, commodities and other financial instruments. However, fact checking reveals that this is not a legitimate broker, but just another scam website posing as a broker.

At the time of writing this review, this scam scheme appears to have been put on pause, presumably because it has attracted the attention of regulators. But if it is reactivated in the future, you should be warned that under no circumstances should you trust it with your money.

BRYCE MANAGEMENT REGULATION AND SAFETY OF FUNDS

The first revealing clue that Bryce Management is not a legitimate business is that nowhere is a company name mentioned – not on the website, not in the Terms and Conditions or other legal documentation. Needles to say, but a broker managing other people’s money cannot be anonymous.

The address listed on the website is in Geneva, Switzerland:

To operate in this jurisdiction, a broker must be licensed by the Swiss Financial Market Supervisory Authority (FINMA). However, we do not find a license on this regulator’s website, but instead a warning that Bryce Management offers financial services without authorization:

But the legal ambiguity surrounding Bryce Management does not end there. The text of the Terms and Conditions states that they “will be governed by and construed in accordance with the laws of the Bulgaria”:

Bulgaria is a member state of the European Union and theoretically registration there gives a broker a high level of legitimacy. A check on the website of the Financial Supervision Commission, which oversees the activities of brokers in that country, showed that there is no licensed brokerage firm with such a name.

Whoever is behind the BM website has no credentials to provide brokerage services. If you are interested in legitimate brokers operating in Europe, it is advisable to contact a firm licensed by respected regulatory bodies like Cyprus Securities and Exchange Commission (CySEC) or Financial Conduct Authority (FCA) in the UK.

As their customer you will enjoy a number of guarantees including negative balance protection and guarantee for your funds if the broker goes bankrupt, which goes up to EUR 20,000 in EU and 85,000 GBP in the UK. Regulations in the UK and EU include some important measures designed to improve investor protection and promote market integrity and transparency, such as transaction reporting. Regulated brokers are also required to segregate their operational funds from the client’s money.

BRYCE MANAGEMENT TRADING SOFTWARE

Bryce Management claims to offer trading software available in browser, desktop and mobile versions. We were unable to verify exactly what platform is being used because the option to create a new account has been removed from the Bryce Management website.

There is an option to download an installation file for the desktop version of the platform, but this file is very questionable – it has no publisher information and is significantly larger than typical for such software. It is not advisable to install anonymous software downloaded from the website of anonymous scammers.

Legitimate brokers offer clients a wide selection of trading software, including desktop, mobile apps and web-based platforms. The most widely used platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

BRYCE MANAGEMENT TRADING CONDITIONS

Bryce Management offers five types of trading accounts. The stated minimum deposit even for the Basic account is huge – 10 000 USD. In the FAQ section, another, more reasonable minimum deposit amount is listed – 250 USD. In comparison, many licensed brokers offer starter accounts with a minimum deposit of less than 100 USD.

The account descriptions lack information on basic trading parameters such as spread and commission. The only specified value is the leverage – between 1:200 and 1:400. This in itself proves that Bryce Management could not be a real broker based in Switzerland or the EU.

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders. EU regulators limit leverage to 1:30 for trading in major currency pairs and even lower levels for more volatile assets. The same restrictions apply in jurisdictions such as Switzerland and the United Kingdom.

Bryce Management’s Terms and Conditions also mention bonuses. Regulated brokers are prohibited from offering clients bonuses and promotions.

BRYCE MANAGEMENT DEPOSIT/WITHDRAW METHODS AND FEES

According to the website, Bryce Management accepts a large number of cryptocurrencies as payment methods, as well as a range of popular e-wallets such as PayPal, Skrilll, iDeal, Payza and GiroPay.

Due to our inability to register an account, we were unable to confirm which methods were actually used by Bryce Management. It is a common practice for such scammers to advertise known payment methods on the website, but to actually use only cryptocurrencies, because transactions with them are not refundable.

The minimum deposit and withdrawal amount is stated to be 250 USD or equivalent. The website and legal documentation do not specify  fees for deposit and withdrawal. Тhe Terms and Conditions state that amounts not directly deposited, including profits gained on account, are not considered Client’s funds. Bryce Management have “full right to reclaim any and all such funds”.

HOW DOES THE SCAM WORK

Trading in financial instruments is a risky business even for experienced investors using the services of reliable brokers. For newcomers, there is also the risk of being deceived by the many scam websites posing as brokerages. These websites are operated by skilled and cunning scammers who lure you with promises of easy profits. Usually these scammers promise to take care of all the bits and pieces of investment for you, but many even use real trading platforms to fool you that your money is really being invested. After investing an initial low amount, they will convince you that you are already making incredible profits and urge you to invest more.

But your money is not invested and you will never see the promised returns. When you ask to withdraw even a portion of your money, you will be surprised by impossible to meet minimum trading volume requirements and hidden fees that amount to tens of percentages of your funds. Scammers hide behind fake names and offshore companies that are uncontrolled and unregulated, so it will be impossible to hold them accountable.

WHAT TO DO WHEN SCAMMED

If you find yourself in a similar situation, you can request a chargeback. However, this option is only possible if you have used a credit or debit card for the transactions. Visa and MasterCard allow this to be done within 540 days. But if you have provided the scammers with proof of identity, such as an ID or proof of address, these claims can be disputed. Bank wire transfer or cryptocurrency transactions are non-refundable.

In any case, you should inform the relevant authorities in your country about the activities of the scammers and warn other potential victims online. You should not trust offers to return your money for an upfront fee. This is also a known scam and all testimonials from satisfied customers are fake.

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18 Comments

  1. Hi, I like your summary of BRYCE MANAGEMENT and who they really are…Scammers!
    I unfortunately only saw your post a bit too late and fell for BRYCE”S scam.
    I paid the required USD250 with my Cr Card and to my amazement it later reflected that I purchased software from TERSISTANBUL.
    Well they had my deposit and made many promises of showing me how easy it is to trade and make a profit. They made USD75 in a couple of days, but insisted that I open a VALR account and deposit USD2,500 in order for them to really prove to me the profits that they could make.
    I luckily did not go further because of the bogus purchase and the Snr Accounts Manager who insisted that when VALR send me a confirmation e-mail I should say NO to all their security questions. This really made me suspicious and I checked them out and found that they are not registered in Geneva nor in the UK.
    I have in the meantime reported them with all proofs and facts to the FCA ORG UK who were very keen to hear about them and to place an alert to all their clients.
    The names I dealt with at BRYCE MANAGEMENT were, Sebastian WILSON; Luca ROSSO & Andrew VOS
    When I informed them that I would make no further payment to them I got no more calls and lost all my deposit.
    The next day I received a call from a Miya from a UK co MONITORING & RECOVERY ORG. who said that she saw that my account was flagged and that I was scammed by BRYCE MGMNT, and that she knew how to retrieve my deposit. She later got a David Edward SMITH to send me a document of their co. which I had checked out with FCA ORG UK and turned out to be fake and a scam.
    he wanted USD200 to start the recovery of my deposit. I am sure that she Miya and David are all from BRYCE MGMNT.
    Well now you know my story and hope that you will alert the public from these scammers.
    PS They all had a East European accent…!
    If you need more info i.r.o. tel/.cell nos used to call me, then send me an e-mail. I have all on record.

    1. I have also been scammed by them….Lost all my money….Can not pay rent…..car has been panned and I have no work.

      They sounded so professional. …Jordon Smith….Alex…..Adam….

    2. I have faced same problem and could please advise how to recover my money.. I lost almost 7500 usd.. appreciated if your help.

    3. Hi Gino
      I have been scammed by Bryce Management as well. I’d love to take action against them no matter how long it takes. Lost $15000.
      Is there any authority that would be have the capacity to investigate them that you know of?

      1. Bryce Management registered their servers IP addresses on 29/3/2021 and expiry date 29/3/2024. Their registration was made in the Netherlands but I am not allowed to post any links here.

        I had written to the RIPE Network Control Centre in the Netherlands to review and potentially revoke their registration and also provided link to Trustpilot for them to refer to the SCAM that we had experience.

        Therefore, I urge all of you to send more postings in this platform of our SCAM experience as leverage for the Dutch authorities to proceed with their next course of action on Bryce Management website.
        If there are anyone from the Netherlands, you can report this to the Police Department and we have lots of document as proof.

    4. I had been scammed too and ALL potential investors to stay away from Bryce Managament. Below is my experiences with them;

      A. Discoveries:
      a) Bryce Management website was only registered on 29-03-2021 and will expire on 29-03 2024. They claimed they had been in operations for the past 10 years. Therefore, some of the reviews done by some “clients” in this platform earlier are fake too.
      b). BM issued a fake receipt using a very small service company also named bryce Management but with address in ANTWERP, Belgium (you can google for this company).
      c). My account was healthy but BM has a structured way of trying to get more funds from the clients:
      • Account Manager purposely advised to buy trades that are losing badly. He admitted this “mistake” and later on provided some kind of “loan” that made my account look even worse.
      • Account Manager then proposed to “liquidate” the trades for other buyers to buy and require me to transfer more fund in order to retrieve my investment and profits made earlier.
      B. Lies and Fakes that they informed me:
      a). All investments are protected (and insured) and the maximum that you can lose in trading is only 20%. The remaining 80% are used for other finance services that have high returns
      b). I am supposed to be able to manage my own account but all withdrawals require Account Manager approvals. I cant even withdraw the profits.

      The Account Manager really agitated and used abusive and foul languages after I refused to transfer additional money.
      As expected, my account had been disabled since 25th. Feb 2022. However, I had made records and print-screens for all transactions.
      I also made several attempts to recover my investment but still unsuccessful even though they promised to do so.

  2. I have also been scammed big time. Took my last money from my pension fund and invested it with Luca, then Peter took over. My money disappeared and I am left bankrupt. What to do now???

  3. Actually they are cheating to people. This brokers are liane . Please stop doing that . I Invest money but now they are blocking. I have Proof. I will take action about that

  4. This guys are cheating people and don’t invest money.. first Luca showed progress in profit and then suddenly went negative … then Peter took over and gave pressure to invest more money.. once you stoped invest money ..then your money is gone … is there any way to get money back.

  5. They have scammed many people, who try to earn some money through trading. They are really heart less people. Try to inform as many as you can and save other innocent people

  6. I had read a number of reviews in this and other platforms confirming that Bryce Management is a SCAM. Various staff that I had been dealing as follows (emails addresses not allowed to be disclosed).
    1.Jordan Smith- handphone: +44 7588 845729
    Sr Account Manager telling all the lies, buying bad trades and made you “lost” all of your investment. Always demand for more money. Claimed to have office at HSBC Tower, London
    2. Steven Davis – probably the leader as decisions and “issues” are referred to him. Same office at HSBC Tower, London
    3. Sebastian Wilson – handphone: +44 7452 276992
    Sr Account Manager – prepared registration for new investors. IT savvy and probably responsible to setup and manage the IT system (in cloud infrastructure). Same office at HSBC Tower, London.
    4. Luca Rosso – Finance and Legal Department. Claimed to be located in Estonia

    Office Locations
    In certain website, they publish their office to be at Rue du Pré-de-la-Bichette, 1 Nations Business Centre, 6th floor, 1202 Genève, Switzerland. This is just a rented space from Regus which anyone can rent. Another fake info to deceive us.
    Probably anyone in London can checkup if indeed they have office at HSBC Tower, London.
    As for those who had been cheated like me, please send reviews in Trustpilot who are the people that you are working with. Probably these are the 4 ( may be a few more) who had been scamming us. They boasted of having teams in New York, Canada, South Africa, Singapore etc.. What a lie..

    Also for your info. there are more sites that reviewed Bryce Management and have many investors who had been cheated too (Trustpilot.com, Cryptosfer.com, Rokelinvest.com etc)

  7. Stephanus Terblanche

    I have been scammed by Bryce Management and lost $40 000. They are a bunch of lying and deceiving people. DO NOT INVEST WITH THEM!!!

    1. Hello I lost a lot with Bryce Managment!!
      STAY AWAY from them!!!

      I am from South Africa.
      Please let’s all group together to catch them.

      These are the “agents” I dealt with : Steve Davis, Luca Rosso, Jordan Smith, Tom Barbossa was the last one I dealt with. They all spoke with the same Eastern European accent. Jordan was the most persistent and coerced me to take out all my savings. By the time Tom came on the scene I had already lost all confidence. Tom was extremely aggressive.

      1. Hi I’ve been Scammed also by this platform Bryce management on 15 March 2022 I send them my money from my luno account after that they gone real scam this Sebastien guy

      2. “Please let’s all group together to catch them” I would love to as I too was scammed out of R130 000.00. They, Steve Davis, Luca Rosso, Jordan Smith, Tom Barbossa, are all unscrupulous thieves. We need someone with IT knowledge to figure out from where they are operating – not sure if that is possible.
        I unfortunately “invested” in January 2022 and did not see any negative reviews at the time – little did I know it is bye- bye to my hard earned money.

  8. Tonie van der Merwe

    I am from Cape Town and I am 82 years. Bryce Management is a big scam. Jordan Smith convinced me to invest R16,000. I lodged a charge of fraud at SAPS but I am not holding my breath. Our SAPS don’t have the resources to deal with this kind of fraud. I do not know what to do. Maybe we should work together to try and recover our investments.
    BEWARE !!!! BRYCE IS A BIG SCAM !. Tonie van der Merwe

  9. I have been scammed out of $15 000.
    I am going to draw an Affidavit setting out all the facts, names, etc signed before Commissioner of Oaths or a Notary, sending it by e- mail to the Commercial Branch at Scotland Yard, the Netherlands Police and Belgium Police. Our charge one of fraud and money theft. I urge all of you to do it. If they receive a bunch of affidavits they act on it.
    Good luck
    Daniel Seymore.

  10. BRYCEMGMT.COM is indeed a scam. They keep on putting pressure on you to invest larger and larger sums of money and then refuse to pay out. They will even let you “withdraw” small amounts, just too put you at ease, and then request/demand larger amounts. Once you ask them to close the account and return your money, they disappear completely. The broker calling himself LUCA ROSSO would not reply to my SMS’s or emails. I have had the worst experience ever and lost a lot of money. In my book they are indeed a SCAM and I want people to be aware of what happened to me and not fall into the same trap!
    DONT BE FOOLED BY ANY POSITIVE REVIEWS…YOU WILL BE SCAMMED AND LOOSE YOUR MONEY

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