When considering opening an account with a broker, the first question is could this broker scam you? We decided to go in-depth about CIBFX broker and find out everything you need to know. Read our CIBFX review.
|Headquarters Country:||Saint Vincent and the Grenadines|
|Types of Assets:||FX, commodities, stocks, indicies|
Regulation and Security
CIBFX is a broker based in Saint Vincent and the Grenadines. The broker is operating without any regulation. However, on its website is stated that CIBfx Ltd has another office in London, UK. We were unable to confirm this information, or find this broker in the FCA register. When a broker wants to have an office in the UK, FCA approval is a must. Therefore, we suspect this broker’s statements.
When it comes to the security of the funds, the situation gets even more confusing, since the broker does not provide absolutely any information about funds or data safety.
Warnings From Financial Regulators
We found warnings about this broker from Spanish CNMV and Danish DFSA. Seems that Europe noticed the scam activities of this broker and decided to warn the EEA zone citizens about this unregulated company. Both of the warnings are issued in 2019.
In which countries does this broker work?
When it comes to CIBFX broker, since it is unregulated, it shouldn’t be providing financial services anywhere. However, based on the reviews we were able to find, the broker is mostly operating in India, Bangladesh, Spain, and South American countries.
When it comes to restricted areas, the broker does not operate in Israel, Iran, Saint Vincent and the Grenadines, the UK, and the US.
All this sounds very strange after claims that the broker is registered in Saint Vincent and the Grenadines and has an office in the UK.
Scammed by CIBFX? Chargeback Is Your Solution!
If you got scammed by CIBFX, there is a way to get your money back. First of all, you are not the only victim of this broker’s scam. You can file a dispute and ask for a chargeback.
But what is a chargeback? Chargeback is a way to get a refund to your card in case you were a victim of an online scam. Contact us immediately for free consultations!
Is CIBFX a good broker?
CIBFX is an offshore broker with no regulation. Also, the broker is poorly rated by its clients. We can say that it is not a good broker.
Is CIBFX a scam?
CIBFX is a broker without regulation. Therefore, all its activities are falling under the scam category. Also, the broker has a very poor reputation among traders.
Is CIBFX regulated?
No, CIBFX is an offshore broker without regulation. It is operating illegally.
Where is CIBFX broker based?
CIBFX broker is based in Saint Vincent and the Grenadines. The broker claims to have an office in London, UK. However, we couldn’t find it in any UK or FCA register.