You can never be too cautious when dealing with trading providers in the Forex market, and some of these enterprises 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 all the way 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 about 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 in a legitimate and professional manner.
Trading accounts 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 minimum amount for opening the Micro account is $100 while you will need more than $10k to start an Executive account.
The need for an efficient and responsive interface is growing in the modern financial markets, and the same rules apply to CIBFX broker as well. However, this trading provider does not bring anything revolutionary onto the scene, and their MetaTrader4 platform is familiar to almost all traders. To be honest, this software package comes equipped with some exciting features, such as a charting option or Expert Advisors, but CIBFX did not make the most of this promising software solution. You can access their website directly in your browser on various devices, including desktop computers, tablets, and smartphones.
Promotions and bonuses
Gifts and rewards are what attracts the most visitors to Forex trading websites, and CIBFX should incorporate the same principle into their operations if they want to become a successful broker. For now, our CIBFX opinion is not a positive one since this company does not offer a lot of bonus features. One of the trading incentives that they are offering is a 100% Welcome bonus, but this “generous gift” is tied to highly demanding trading requirements. In other words, you need to fulfil a particular number of trades before you can withdraw the amount in question.
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. Also, e-wallets are available, which means that you can choose between Neteller, Skrill, or OKPay.
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. When it comes to education material, CIBFX has prepared a couple of webinars and e-books, but this is not nearly enough to satisfy the modern investors.
If you have gone through our CIBFX FX broker review with sufficient attention, you could notice that this broker does not belong 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 no one wants to see their funds disappear in a flash. Scam sites are all around us, and that is why it is best if you avoid CIBFX and explore your options with a more reliable trading company.