If you were considering opening an account with a Fibido broker, we are here to show you why you shouldn’t do such a thing. The broker has many negative reviews by users and many security issues.
Read our detailed Fibido review and you will understand everything!
|Broker status:||Unregulated Broker|
|Regulated by:||No Regulation|
|Types of Assets:||Forex, Indices, Commodities, Shares|
|Free Demo Account:||Yes|
|Accepts US clients:||Yes|
Fibido Regulation and Security
Fibido is a relatively new broker on the market, established in 2020. The company does not reveal who is the owner behind it. However, what they do show is their address in London. This address is fictive and does not belong to the broker.
How can we tell? Any company that is registered in the UK needs to have FCA regulation. Fibido regulation was nowhere to find in the FCA register.
When it comes to security, it’s as mysterious as the Fibido location. The “Legal documents” section on their website is out of function. Therefore, we couldn’t find anything about the terms & conditions of trading with this broker. Terrible start for Fibido in our review.
Fibido Trading Platform
When it comes to broker trading platform, it is using MT5 software. The platform is available as an application – desktop and mobile version and as a WebTrader. Many serious brokers are offering MT4 along with MT5 to satisfy more demanding traders used to MT4 and its features. This tells us that Fibido is preferably targeting inexperienced traders.
The leverage that the broker is offering on the platform is very high, 1:1000. This is another proof that the broker cannot be based in the UK because the FCA limits leverage to a maximum of 1:30 for the Forex market.
What can you trade with this broker?
The broker is limiting its offer of assets to currency pairs, commodities, indicies, and shares. As mentioned, more experienced traders might find this limiting because there are no cryptocurrencies in the offer. Yet again, we can tell that the broker is targeting less professional traders.
The Fibido minimum deposit is $200 for the Classic account. Besides this account, the broker is offering Platinum account and ECN account. The deposit can be made via debit and credit cards and E-wallets, but not via bank transfer. The same methods are available for withdrawals, and the time necessary is 3-7 business days.
Scammed by a Fibido broker? Here is What to Do!
If you were scammed by Fibido, there is a solution. You need to know that you are not the only victim of the Fibido scam! Getting your money back is possible. You need to file a dispute and request a chargeback.
To get your money back, our support can guide you throughout the process. Do not let the scam broker go away for free. Contact us for help immediately! We are available via online chat at any time.
Do not let this scam broker get away free!
What is Fibido?
Fibido is an online trading broker that is operating with no regulation.
Is Fibido regulated?
No, Fibido broker is not regulated by any authority body in the world.
Is my money safe with a Fibido broker?
Your money is not safe with this broker since it operates with no regulation, and nobody is controlling it.
Is Fibido a good broker?
Fibido is not a good broker. It is operating with no regulation under false address claims.