Is BYDFi a Scam? Regulation Check 2026
The BYDFi entry was pulled from the FINTRAC register. This is what the public record returns.
Verdict
The record clears BYDFi: it holds FINTRAC licence Registered, which clears it to offer trading in Canada.
How to verify on the official register
| Regulator | FINTRAC FINTRAC |
| Licence Number | Registered |
| Regulated Entity | BYDFi |
| Founded | 2020 |
What FINTRAC regulation means
Under FINTRAC, an exchange must ring-fence client funds in segregated accounts, carry negative balance protection, and open its books to independent audit. A complaint can be filed with FINTRAC directly.
What the FINTRAC registration buys you
- Client funds ring-fenced in segregated accounts, apart from BYDFi's own capital
- Negative balance protection, so a loss cannot run past the deposit
- A direct line to FINTRAC for a complaint should BYDFi leave one unresolved
- Independent financial audits of BYDFi, run on a schedule under FINTRAC oversight
Frequently Asked Questions
Is BYDFi a scam or legitimate?
The record clears BYDFi. It holds FINTRAC licence Registered, and FINTRAC ranks among the most respected financial regulators, the entry confirms in public on the FINTRAC register.
How do I check BYDFi's FINTRAC licence?
Open the official FINTRAC site and run its register search. Key in licence Registered or the entity name; the entry returns BYDFi's authorisation status and the exact scope of its permissions.
Are my funds safe with BYDFi?
Under FINTRAC, BYDFi is required to hold client funds in segregated bank accounts, walled off from company money, cover that stands even if BYDFi runs into trouble.
What protection do I have as a BYDFi client in Canada?
In Canada, BYDFi answers to FINTRAC. On the record that means segregated client funds, negative balance protection (losses cannot run past your deposit), and a direct channel to file a complaint with FINTRAC.
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