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Do You Want to Know If CIBFX Is Legitimate or a Scam?
CIBFX has a license from St. Vincent and the Grenadines. This is basically like saying they don’t have a license at all. St. Vincent and the Grenadines is an offshore regulator that doesn’t provide any oversight for their clients. CIBFX clearly does what they want. They charge an alarming $150 a month inactivity fee and it can start charging this fee from the first 30 days of no trading. Also in its terms and conditions, it basically says it can suspend an account for any reason.
What’s the Deal with CIBFX?
CIBFX has been flagged by the FCA or the Financial Conduct Authority of the UK. This is because it was offering trading services to UK clients without a proper license. We’ve also seen many complaints about CIBFX, mainly for charging excessive fees and not allowing clients account access. It’s not worth the risk of opening an account with a broker that doesn’t have a real license and has been flagged by regulators.
Here Are Some Problems with CIBFX
- Third-rate license
- No transparency
- Insanely high inactivity fee
- Reserves the right to bar account access
- Flagged by the FCA
- Numerous negative reviews
If You Need Fund Recovery from CIBFX, Talk to Us
We create these reviews to warn consumers about brokers and schemes that may be fraudulent. If you have an account with this broker close it and request a withdrawal. If you are not given your money back, contact Broker Complaint Registry right away. We will consult with you, and work to track down your funds.