I apologize in advance, as this is a topic that comes up a lot, I wouldn’t post this but I need advice specific to my situation and the internet is of no help.
So I registered for Bybit from UK, I was unaware of it being ‘banned’ at the time. First of all, it recognized I was from the UK, so why has it let me sign up? If I begin to trade is it just a matter of time before I get an email asking me to remove funds?
A few people have recommended a VPN, but I’m really struggling to verify the legality of doing this. I have read various posts on here also but it seems like there is no general consensus, since it hasn’t been brought up in a while does anyone have any more opinions on whether its OK to use a VPN?
Lastly, it isn’t really a problem for me to just trade the underlying asset rather than futures, since I just use leverage to manage risk and minimize exposure, it’s not that big a deal for me to trade without it, it’s just easier with it since I can control exposure and place more trades at one time, and (very slightly) magnify any potentials gains (and losses). That being said, are there any other good crypto trading websites I can use in UK? Since futures is supposedly banned.
For the life of me I cannot get to the bottom of what’s going on. Is futures trading banned or not banned in UK? Can I use Bybit without a VPN? Is it legal to use it with a VPN? There’s too many question, and barely any answers. I had used Binance until recently now that it is also allegedly due to be banned in UK. It’s a shame since my technical analysis is getting a lot better, but I feel like the only thing in my way is an ability and security to actually make the trades.
Any help appreciated, and once again, apologies as I know this has been brought up A LOT.
I can’t speak to the legality of futures trading unfortunately as I’m in the US. With regards to the legality of using a VPN, nobody is gonna kick in your door and take you out in handcuffs because you wanted to trade crypto. By the way their security scans are set up, I’d assume it’s just to tell whatever kind of government agency who regulates stuff that they at least tried to prevent unauthorized users.
Hello
You can check service restricted countries here. The UK is not on the list, so you can freely trade, bybit won’t ban you.
Hi Guys,
Are you atill trading futures on Bybit?. I just signed up from UK without verification and able to trade. Just don’t know for how long.
I have my account in bybit and I completed the verification level one and level two , so they know I am in uk … also I just got my bybit debit card from them with my uk address so I am confused… is it banned bybit in uk or not??
What about staking and earn in Bybit for UK residents? If you do Lv 1 ID verification and you hold a non-Brotish passport, they won’t know you live in Uk as Lv1 doesn’t ask for residency proof
Thanks very much. I think UK has just been taken off the ban list in the past few days as it was previously banned. There is a whole thing going on with our financial watchdog banning crypto derivatives but it keeps going back and forth on whether or not its actually going to get enforced. Took me a while to figure out what was going on!
I see that the terms of service have been updated and now don’t even specify any countries by name. “ that you are not located in and are not a resident of any jurisdiction where the Services offered by Bybit are restricted.”
Is it now up to the individual to figure out if they are in a service restricted region? Or does the list you linked still apply and the TOS are just not updated?
Hi Rocket. I had exactly the same question and saw your post - so does this all mean that we ( in UK ) can use Bybit ? I joined Bybit several months ago and searched google and it looked like iI would not be able to use it, although it was all a bit unclear - how is it going for you - any issues ? I tried to find the reference to Uk being unbanned but couldn’t tell exactly - basically just wanted to know if your ( and my issue) with regard to using Bybit in the Uk is resolved and we can use it…appreciate your input.
Sorry for the late reply- not on reddit much these days. I’ve been using it consistently since I made this post, without issue, and without any KYC or VPN. However I am constantly keeping track of any potential changes and I’m always ready to empty my account if needed in case something happens. But no, I haven’t had any issues yet and I’m hoping it stays that way. The last correspondence I had with the Bybit team was that the UK is not banned from using the website however they advise against using it (I think that’s a legal thing they have to say because of the no regulations), but like I said, I’m always on the lookout for changes in case they crack down on it again. Hope this helps!
TL;DR: No issues using it but I’m super vigilant on checking my emails in case it gets banned again.
edit: I also agree, when I searched on google it’s all incredibly unclear
Hi there, I as well am confused with how I can trade futures in the UK. Has anything changed for you since your last comment in regards to futures trading? Binance is fully cracking down on futures now :(. So I wonder if Bybit is any different now that Binance has really cracked down, I would think Bybit would have to do the same?
Hello, Bybit is still available to trade in UK for now. I have no idea if in future it will be different, but for now, we’re free to use it with nothing more than a disclaimer that says they ‘advise’ us not to trade futures there.
Not gonna lie, I’ve been trading for over a year now and I’m hoping to go full time soon. So I REALLY hope Bybit remains available in UK. If you’re going to use it I would just recommend to keep an eye on their communications.