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CIBfx
Regulators: SVG FSA
http://www.cibfx.com
CIBfx is a non-regulated broker we advise against trading with, despite the seemingly attractive deals it offers.
Although CIBfx's claim that it is registered with the Financial Services Authority of St. Vincent and the Grenadines (SVG FSA) and with Mwali International Services Authority (MISA) is real, one must keep in mind that both agencies neither issue forex licenses nor regulate entities engaging in such activities. Therefore, any service or product for trading forex offered by CIBfx is illegal. Once your money is deposited into this platform, there are no safeguards to protect it. In addition, the Financial Conduct Authority (FCA) has issued a warning against CIBfx for providing financial products or services without proper authorization. You can access the full warning here.
Regarding your question, we strongly suggest you avoid dealing with CIBfx since it is not regulated by any governing body. Investing or trading with this broker would pose significant risks including loss of funds and identity theft, which could be financially and personally devastating. As such, we would recommend staying away from unregulated brokers like CIBfx and choosing fully regulated ones instead.
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FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.
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