ANSWER Fibido claims to be a UK-based company while providing zero details about the trading license on its website, which is already a red flag. According to the information presented on its MT5 software, this broker is operated by Fibido Technologies Ltd, a UK company registered with Companies House. However, it doesn't mean the authorization of the Financial Conduct Authority (FCA), the regulator that approves licenses for brokers in the UK. The truth is, we didn't find any information about its regulation from FCA. So currently Fibido is actually not regulated by any financial regulator. That means investors' funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is thoroughly a scam. We would recommend traders to stay away from unregulated brokers like Fibido and trade with licensed brokers. If you have already engaged in transactions, you should try to withdraw all the invested funds if possible and remember never to deposit again, no matter how much profit they promise you will make. Because it will only prove to be their trick to deceive the trader's money. Also, we advise you to report about it to your local authorities.
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