Avoid Unregulated CIBfx! Protect Your Investments

While investing your hard-earned money, you need to be extra cautious to avoid falling victim to deceit. Meet CIBfx, a cunning firm that has perfected the art of deception by fabricating a regulatory framework. Its facade of credibility entices unsuspecting investors searching for security and lucrative returns, only to trap them in a web of falsehoods. Behind the enticing promises and authoritative guise lies the harsh reality of ruined dreams and stolen wealth. This article uncovers suspicious activities of CIBfx, shedding light on its true nature as a scam while emphasizing the importance of vigilance to protect potential investors from its treacherous clutches.

CIBfx - A Quick Overview

CIBfx (https://cibfx.com/en/) is a forex and CFD trading platform. The company claims to have been registered with the International Business Company (IBC) in Saint Vincent and the Grenadines. The broker offers a range of online trading solutions catering to both experienced traders and newcomers. The firm boasts a rich product portfolio featuring over 60 currency pairs, exotic options, and more than 500 financial instruments across eight asset classes. Concerning the flexibility of selecting a trading platform of your choice, there is no such facility. Clients must rely on the industry standard trading platform – MT4. While the broker offers access to multiple trading tools, we couldn't find many resources in the company's educational library. The broker also fails to offer customer support via live chat, email, or telephone.

Is CIBfx Regulated?

No, CIBfx is not regulated and operates as an unregulated forex broker. Although the company claims registration with Saint Vincent and the Grenadines Financial Services Authority (SVG FSA) under registration number 22814 IBC 2015, it is essential to note that the SVG FSA is not a regulatory body responsible for granting licenses or overseeing forex trading entities. Consequently, the company's registration does not indicate compliance with valid regulations.

Clientele Feedback

Client feedback of the broker seems to be full of concerns and dissatisfaction. Clients express disappointment with the rapid loss of funds, difficulties in withdrawal processes, incomplete website features, and lack of customer service. There are allegations of aggressive pressure to invest more money and a lack of communication once funds are deposited. These experiences lead to the belief that the company operates as a scam, emphasizing the focus on money rather than client satisfaction.

What Makes CIBfx a Scam?

CIBfx has been accused of engaging in fraudulent activities, which raises concerns about its legitimacy. For instance, the absence of regulations from any reputable regulatory authority.

Further, the UK's Financial Conduct Authority (FCA) also warned that the broker was operating without authorization in the UK.

Moreover, numerous reports highlight the company's pathetic behavior with clients suggesting a lack of professionalism. 

Bottomline

Based on the allegations of fraudulent activities, a lack of regulation, poor customer service, and withdrawal issues, we advise you not to engage with CIBfx. Instead, consider exploring alternative brokers preferably those with reliable reputation. You can also take the help of online review firms like BrokersView to check a broker's authenticity before signing up with it.