Is CIBFX the Real Deal or a Scam Broker?
CIBFX claims to have a license from St. Vincent and the Grenadines, but it’s essentially the same as not having a license at all. St. Vincent and the Grenadines is an offshore regulator that lacks proper oversight for clients. This means that CIBFX can pretty much do as they please without any consequences. They impose a concerning $150 monthly inactivity fee, which can be charged even within the first 30 days of no trading. Furthermore, their terms and conditions state that they have the authority to suspend an account for any reason.
Something’s Up with CIBFX
CIBFX has come under scrutiny from the Financial Conduct Authority (FCA) of the UK. They were flagged because they provided trading services to clients in the UK without obtaining the required license. Additionally, we have noticed numerous complaints about CIBFX, primarily regarding their high fees and the refusal to grant clients access to their accounts. It’s not wise to take the risk of opening an account with a broker that lacks a legitimate license and has been flagged by regulatory authorities.
Here Are Some Problems with CIBFX:
Poor licensing
No transparency
- Very high inactivity fee
- Claims the right to close down accounts
- Many negative reviews
If You Need Fund Recovery from CIBFX, Talk to Us
You should close your account immediately and demand a withdrawal. If you do not receive a withdrawal, contact CryptoCoinTrace experts. We consult with clients, advise them on claims and have the tools and methods to track down your funds. The sooner talk to us, the greater the chances of a successful claim!
