ITBfx Review: A Closer Look at the Unregulated Broker
ITBfx is a London-based online trading platform that was established in 2017 and provides a range of financial products. However, despite its claims of providing traders with access to financial markets, ITBfx has raised significant concerns due to its lack of regulation. In this ITBfx review, we will explore the various red flags associated with this broker and why many traders have expressed frustration with their services.
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Broker Website – https://itbfx.com
Headquarters or Area of Operation – International Trading Brachium Ltd, The Sotheby Building,Rodney Bay, Gros-Islet,Saint Lucia
Warnings – Not recommended by Scam Victims Help
When was the ITBfx website domain set up?
- Name itbfx.com
- Registry Domain ID 2273780185_DOMAIN_COM-VRSN
- Registered On 2018-06-11T11:09:03Z
- Expires On 2029-06-11T11:09:03Z
- Updated On 2020-01-02T07:45:40Z
Lack of Regulation and Oversight
The broker operates without any oversight from recognized financial authorities, which can expose traders to considerable risks. Regulatory bodies are essential for ensuring transparency, fairness, and accountability in financial markets, and their absence at ITBfx raises serious questions about the integrity of the platform.
Unclear Policies and Trading Conditions
Another issue highlighted in numerous ITBfx reviews is the lack of transparency regarding the broker’s policies and procedures. Many traders have reported that the information provided on the website is vague and unclear, making it difficult to understand the terms of service, fees, and trading conditions.
Negative Reviews and Complaints
Numerous negative reviews have emerged regarding ITBfx, with many traders expressing frustration over their experiences. Common complaints include difficulty with withdrawals, especially when using no-deposit bonuses, as well as issues related to liquidity, high spreads, and excessive slippage. Traders have also reported that every order is subject to requotes, which can hinder their ability to execute trades efficiently.
Issues with Execution and Trading Features
Traders have also reported poor execution speeds and limitations on trading strategies such as hedging and scalping. Orders are said to take more than five minutes to close, and the minimum transaction size is set at 5 pips, according to the broker’s terms and conditions. However, the responses from ITBfx support often contradict the stated provisions, adding to the sense of frustration.
ITBfx Review Conclusion
The lack of regulation, unclear policies, negative reviews, and poor execution make ITBfx a risky platform for traders. Many have labeled it as a scam broker, and potential users are strongly advised to stay away.
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