CIBFx Review Scam Complaint

CIBFx Review – An Introduction

CIBFx is an offshore forex and CFD broker that is not regulated. The CIBFx is founded back in 2005 and the broker offers around 40 forex currency pairs and CFDs on indices, precious metals and futures. Behind the brand of the broker CIBFx there are several companies. Those companies are Capital Investment Brokers Ltd., which is Licensed in Vanuatu and regulated by IBC, and its other two subsidiaries are based in London, Capital Investment Brokers Ltd. and CIB Capital Investment Brokers Limited, which is based in St. Vincent and the Grenadines. 

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About the CIBFx:

CIBFx is an unregulated broker that is not specified where it is based. CIBFx offers various types of accounts for trading, based on the minimum initial deposit.  In addition, the broker also offers Islamic swap free accounts that do not involve any interest or swap charges on overnight trading. Micro lots can also be seen for trade on all account types. The variable spreads offered by this broker are within the range of 1.0 – 1.5 pips on EUR/USD which is average according to the typical ones. As the leverage is considered, CIBFX offers a leverage ratio of up to 1:200, which is average for the forex market. 

There are several companies running the CIBFx brand namely Vanuatu Licensed Capital Investment Brokers Ltd., claimed to be regulated by IBC, and there are two subsidiaries based in London namely Capital Investment Brokers Ltd. and CIB Capital Investment Brokers Limited, which is based St. Vincent and the Grenadines. Vanuatu is an offshore place preferred by the scam brokers as registration there is very low cost and easy. This broker CIBFx is not a reliable broker as there is no details about trading conditions are available on the site of the broker. CIBFx offers Meta Trader4 platform to its clients for trading, the trading platform MT4 is a very popular and preferred trading platform in the industry. CIBFX provides its clients various modes of payment like credit/debit card including Visa, MasterCard, Maestro, bank wire transfer, and two e-wallets Neteller and OK PAY.

Is CIBFx legit or scam?                       

CIBFx is an unreliable broker that is not regulated by any authentic financial regulatory. No information on trading conditions provided by the broker shows lack of transparency and credibility. Therefore, we would recommend the traders to avoid trading with this broker as it will not be safe to handover your money to this shady broker.

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