Broker Name – FiboTraders
Broker Website- https://www.fibotraders.com/
Warnings – Commissione Nazionale per le Società e la Borsa (Italy)
When was the FiboTraders website domain set up?
Domain Name fibotraders.com
Date Registered October 05, 2021
Domain Age 8 months, 18 days, 18 hours, 7 minutes, 19 seconds
Headquarters or Area of Operation – Saint Vincent and the Grenadines
FiboTraders Review – An Overview
There might be a Forex broker or any other broker latching on to you just as you read this sentence. With the latest technology being delivered at our fingertips in this era, these online scam brokers can reach any of us at the speed of light. They may cold call telling you about the unending benefits of opening an account with their brokerage firm or through good online marketing these scams have a unique yet common way of finding their victims. Do you want to avoid these scam brokers? If your answer to this question is yes, then read the scam broker review here and know the reasons why you should not invest with any of the scam brokers to avoid fraud. If you find this FiboTraders review useful, make sure to share it with your loved ones to save them from such scams as well.
Are these issues present in FiboTraders broker features and activities?
Having the potential to make someone go into a debt trap, the scammers lure their victims in with irresistible offers and discounts. In this segment, we will be telling our readers about a few important points that you must look for in a broker before opening an account with them. Remember, nobody has a right over your money.
FiboTraders and Regulation:
As you all might know, the regulation is one of the most important checkpoints that one must look for while searching for a brokerage firm. Due to the increasing inflow of scammers in the market, the regulations set up barriers to make sure that the scammers stay away from the market. For this, they introduced the licenses. For a company to acquire a license, it must go through a variety of tests. However, these tests are not as easy as they might sound like. If a company does not have a license, it means that the company is UNAUTHORISED and not fit for trading. In our case, if FiboTraders is unregulated, then this raises the first red flag against the broker in this FiboTraders review. Read More in Scam Broker 2022.
Is Minimum Deposit permissible?
The minimum deposit is generally asked in very small amounts by the legitimate brokers as taking huge amounts as the minimum deposit is not advised by the regulations. However, the tradition of taking huge minimum deposits is extremely common in scam brokers as their main aim is to steal as much money as they can from the trader before they get suspicious. The usual amount asked by the legitimate brokers lies in the range of $5 to $10. If the broker asks for an amount more than the average, chances of a scam.
Leverage is yet another common checkpoint that one must look for while checking for a broker online. Due to their direct involvement with the risk, leverages are offered in small amounts. The leverage is even capped at 1:30 and 1:50 in the European countries and the USA respectively. If this broker offers leverage more than this, it is a sign that FiboTraders is a potential scam.
An Example of Negative Reviews
Reviews on Trustpilot say- “They keep calling me on the phone. Obvious scam with fake reviews.”
Conclusion: Is FiboTraders scam or legit?
To sum up, all that has been said above, we give you the power to decide whether the broker is a scam or not. We request the readers to move forward with extreme caution. If you have been a victim of FiboTraders scam or any other broker, do not feel embarrassed. File a complaint right now and get instant help from our team in fund recovery!