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CIBfx

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Operating status: SCAM

Website: http://www.cibfx.com

Broker violations and abnormal records
  • 2022-06-19 The UK FCA Added CIBfx into Its Warning

    On 20 June 2022, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that CIBfx is providing financial services or products in the UK without their authorisation. You may visit: https://www.fca.org.uk/news/warnings/cibfx

    On 20 June 2022, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that CIBfx is providing financial services or products in the UK without their authorisation. You may visit: https://www.fca.org.uk/news/warnings/cibfx
  • 2022-07-12 BrokersView has Reviewed that CIBfx is an Unregulated Forex Broker

    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.

    Besides, CIBfxc shows its business certificate issued by the Companies House of the United Kingdom (CH). We also find a match result to CIBfx in CH. However, CH is the United Kingdom's registrar of companies which has no legit rights to regulate any forex activities. 

    As per the United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorized or registered by the UK financial regulator - FCA. We did searching in FCA and only found this firm had already been warned by FCA for providing financial services without authorization.

    That means CIBfx is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

    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.Besides, CIBfxc shows its business certificate issued by the Companies House of the United Kingdom (CH). We also find a match result to CIBfx in CH. However, CH is the United Kingdom's registrar of companies which has no legit rights to regulate any forex activities. As per the United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorized or registered by the UK financial regulator - FCA. We did searching in FCA and only found this firm had already been warned by FCA for providing financial services without authorization.That means CIBfx is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

Related Complaints

Q&A

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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3 comments

John Dyle
Since in I invested the money the account increased rapidly and in a single operation they lost my money, I would like the possibility of correcting the situation without having to invest more money, as they told me the last time they contacted with me. I appreciate the help they can give me.
2023-06-02
Reply
Khairul Abdi
Working with them for a few days, I am sure it is worthless. 1. the website is not completed. 2.the broker is not regulated. 3. have to deposit min 500 usd, not a small amount. 4. Withdrawal is not smooth. Its my money whenever I need they should withdraw.
2023-02-25
Reply
Disappointed trader
This broker has the worst customer service as they got those dumb people sitting behind the desk who don't speak properly. and they still haven't processed my withdrawal. Bl***y thieves!!!
2022-12-29
Reply
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