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cibfx

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How many deposits should I make when opening a new account?
Guest
Brazil
2023-05-15
ANSWER CIBfx is a non-regulated broker we advise against trading with, despite the seemingly attractive deals it offers.Although CIBfx's claim that it is registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) and with Mwali International Services Authority (MISA) is real, one must keep in mind that both agencies neither issue forex licenses nor regulate entities engaging in such activities. Therefore, any service or product for trading forex offered by CIBfx is illegal. Once your money is deposited into this platform, there are no safeguards to protect it. In addition, the Financial Conduct Authority (FCA) has issued a warning against CIBfx for providing financial products or services without proper authorization. You can access the full warning here.Regarding your question, we strongly suggest you avoid dealing with CIBfx since it is not regulated by any governing body. Investing or trading with this broker would pose significant risks including loss of funds and identity theft, which could be financially and personally devastating. As such, we would recommend staying away from unregulated brokers like CIBfx and choosing fully regulated ones instead.
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Is CIBfx a legal platform?
Jakub Schreurs
Algeria
2022-07-28
ANSWER CIBfx is not a reliable broker for traders even though it states offers that look good to be true. CIBfx claims to be registered with Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) under registration number 24120IBC2018. We do find a match result to CIBfx in SVG FSA. But SVG FSA is not a regulatory body that issues licenses for forex trading or regulates entities offering forex services. Having registration does not mean having any valid regulations.Moreover, the United Kingdom Financial Conduct Authority (FCA) issued a warning against CIBfx for providing financial sevices and products without authorization and regulation. You can check the full warning from here.The truth is, CIBfx is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like CIBfx and trade with licensed brokers.
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Risk Warning:

FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

Disclaimer:

The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.