Fiboda is another shady broker that has been raised to our attention and one whose swindling patterns we are going to reveal in this Fiboda review.
In a forthright manner, let us warn you about Fiboda. Before you start dreaming about amassing wealth with none other than Fiboda, it is, in fact, more likely your fortune will whittle down with Fiboda.
They tout themselves as a successful copy trader which may trigger your confidence in conjunction with your optimism about not-so-distant future prosperity. Solely on the basis of them not being regulated by FCA (Financial Conduct Authority), we should advise you not to take part in their business.
|Broker Type||Forex/ CFD|
|Platforms||MT4, MT5, WebTrader|
Fiboda License and Regulation
Fiboda’s assertions of Finacom regulation amount to sheer nothingness since Finacom isn’t an official institution that could vouch for your financial safety. They claim that they are regulated by the EDR organization established in Hong Kong, but in reality, they are not.
What strikes us is their audacity to claim their headquarters are in the UK, while still not having an FCA license. It is vitally important to have your brokers regulated because that means they have met certain requirements which contribute to better risk management.
Once the UK was out of the EU, all brokers with their headquarters in the UK must be regulated by FCA. Before that, they claimed they had been supervised by the Cyprus law.
Fiboda Trading Software
Fiboda offers the two most popular platforms – MetaTrader 4 and MetaTrader 5 that can deliver relevant data to their users in a way that is nicely designed and user-friendly. In addition, there is also a proprietary Webtrader that can get data from MT4 and MT5 and then copy the most popular and successful traders.
However, there is no way to get access to these platforms, which makes for a bleak financial landscape. In other words, you can’t do your trade efficiently without trading software.
You can access the platform from your smartphone, both Android and iOS.
Available Trading Instrument at Fiboda
To some considerable extent, we can claim that Fiboda is a nefarious multi-asset broker. In order to attract a lot of customers, their offer comprises assets ranging from forex currency pairs to cryptocurrencies.
There are also commodities, indices, etc. They make themselves ambitious enough to strive for being indispensable on the brokerage scene. It is a wheel-spinning battle with those scammers because it is hard to harness people’s intrinsic greed.
Still, no shares in their offer, in spite of them being the most popular asset in the investment world.
Deposit and Withdrawal Methods
The minimum deposit at Fiboda is $200 which is a standard account that is a veneer of their false accessibility.
As it pertains to run-of-the-mill scam brokers, withdrawal methods are the telling point that is going to tone down your unbridled greed. If you read in the terms of service that unusually high trading volume is required, you can be sure your money will be gone.
How Does Offshore Brokers’ Scam Implement?
They will have you in a chokehold, as soon as you let them contact you. You won’t have time to read the room, because they are so manipulative, and even though you may be somewhat of a skeptic yourself, they know how to handle your ‘’unfounded’’ skepticism.
As soon as you want to withdraw your money, then you start to recognize the moment as a tipping point in your business relationship with Fiboda.
Don’t be angry with yourself and your delusional faith in Fiboda’s deals. We can help you with reporting them!
Highly Recognized Trading Brokers
One of the most reliable copy traders is FXTM Broker and we highly recommend them. Their rating is 4.5, which is remarkable.
Other brokers we strongly recommend are OctaFX, FP Markets, XM, HFM HF Markets, and FBS Broker. Your sleep won’t be interrupted doing business with them, Rest assured your money is safe and secure.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFx.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Fiboda is a mishmash of false promises and money-grabbing tendentiousness. Don’t subscribe to their policies, as you can be a victim of their resolute fraud. They are relentless in their pursuit of accruing a lot of money.
Fiboda will misuse your money if you steer it into their hands. Therefore, think twice before taking any risks while investing money.
FAQs About Fiboda Broker
Is My Money Safe with Fiboda?
No, because they are not regulated, so, no institution can guarantee your protection.
When Was Fiboda Founded?
Fiboda was apparently founded in 2017 and as you may know, it is pretty risky to trade with them.
How Long Do Fiboda Withdrawals Take?
There is no withdrawal information on the website, so that is a red flag, such as a lack of transparency.