CIBFX Review

You can never be too cautious when dealing with trading providers in the Forex market, as some of these companies are only after your hard-earned cash. In other words, their intentions are not honest, and these malicious organizations are putting the entire foreign exchange market under a bad and notorious reputation. On the other hand, some companies are professional and trustworthy, and by reading our CIBFX review, you will be able to discern if this company is reliable or not.

CIBFX at a glance

CIBFX was established back in 2005, and with over a decade of experience, you would expect that all traces of a possible CIBFX scam are gone. However, this company is still not regulated by a reputable agency, and without a valid license – there is no evidence of the intentions of this particular broker house. The conglomerate that owns and operates CIBFX comes from Vanuatu, and this territory is a well-known Mecca for offshore companies and shady activities. Capital Investments Brokers Ltd also has subsidiaries in London and St. Vincent and Grenadines, and all of these enterprises are working together. However, it seems that they are not operating legitimately and professionally.

The Safety and Security of CIBFX

The broker holds a less reputable license from Mwali International Services Authority in Comoros Union. While it is still better than not having a license at all, we were expecting more from the broker who is on the market since 2005. Still, it is better than unregulated brokers, but we do not consider this license equal to other reputable regulators.  We could not find anywhere if the broker offers negative balance protection. We recommend exercising extreme caution when dealing with this broker.

Another huge red flag is the guaranteed stop-loss feature. This is only possible if the broker is a B-book broker, meaning it is a market maker and can manipulate markets and trading platforms. In all other cases, no broker can guarantee a stop loss when markets are highly volatile. This almost guarantees CIBFX is a market maker indicating direct conflicts of interest with their clients. Scam alert here!

CIBFX Fees and Spreads

All trading accounts come with 1 pip spread, which is an industry average. All trading on FX pairs is commission free.

CIBFX has a huge inactivity fee of 150 USD per month after 30 days of inactivity. This is one of the worst inactivity policies we have seen so far when reviewing brokers.

Accounts, Deposits, and Withdrawals at CIBFX

Since CIBFX is an STP trading provider, they are offering direct access to markets and fast execution, but we urge all those who will be reading our CIBFX reviews to be very careful when approaching this broker. Before you start your trading career with this company, you will be required to register and create an account. Besides a swap-free Islamic account and a demo account feature, CIBFX also offers three pretty classic categories – Micro, Standard, and Executive. The broker has some issues on their website. There are two standard accounts and one micro account, all with the same terms except for the initial deposit. The accounts policy from CIBFX is unclear and childish, as there are no inconsistencies but also uncertainties about who are these accounts for. The minimum amount for opening the Micro account is $500 while you will need more than $10k to start an Executive account. This is a big initial capital requirement for a broker that holds the license which is not very reputable. We strongly advise our readers to stay away from this broker. They can not even spell their account names correctly, how can they protect your money?

Payments and Transferring of Funds

All CIBFX opinions will agree that this broker does not provide a safe and protected trading environment, and that is why you should think twice before depositing your hard-earned money with this broker. It seems that their website even lacks 128-bit SSL encryption, which is a must-have in the current Forex world.

Prospective investors can use credit cards, such as VISA or MasterCard, or bank wire transfers as their preferred banking method.

The lack of any other payment methods is a huge disadvantage. Wire transfers are lengthy and costly methods, and bank cards are also less convenient in today’s world full of super-fast online payment systems.

CIBFX Trading Assets and Features

CIBFX offers a decent amount of tradable instruments from diverse asset classes. The broker offers all assets as CFDs, meaning traders can open buy and sell positions on any instruments. Available assets include cryptos, stocks, indices, commodities, FX pairs, and futures.

Trading platform

inconsistencies continue on the platform’s section of the website.

While the website is in English the texts explaining MT4 are all in Spanish. The broker was not serious enough to dedicate needed attention to all details of its website. Another red flag here.

CIBFX Customer support

CIBFX Forex broker is operating from Vanuatu, or at least that is what their website says, and the lack of regional offices is a major drawback for this company. It seems that clients reach their staff 24/5 through several means of communication, including e-mail or telephone.

CIBFX Education Reviewed

There is only a trader’s glossary available for free. The video tutorials require users to register an account with the broker, which is super inconvenient.

If the broker had at least made a little market research, they would discover all reputable brokers are offering abundant educational resources. The lack of education will make it easier for newbies to fall for this broker’s terrible services and big promises. Another red flag here as well.

Should you consider CIBFX?

If you have gone through our CIBFX FX broker review with sufficient attention, you could notice that this broker does not belong to the top group of Forex trading providers and that you could easily find a better solution for your investments. Trading with unregulated and suspicious brokers bears a lot of risks, and CIBFX has more than enough red flags to recommend our readers stay away from them.