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FXIBA (Fxiba.com) is a brutal Forex broker scam that is stealing from unsuspecting investors. This bullish broker came to our attention after an email sent by Olivia Pascal reached our help desk. According to Olivia, she lost over $3000 with this Forex scam platform. That’s why we decided to conduct a thorough investigation on Fxiba. Read what details we found in regards to FX IBA and tricks being used here.
Problem with Forex scammers is that they all use the same tricks. FXIBA is no different as they have used nothing more that notable tricks on their website. Calls to join this platform should be completely ignored as no one should feel humiliated by this broker. What these brokers have done is create a user-friendly website that appeals easily to the eye. Folks, don’t let the enticing homepage fool you, there’s more than meets the eye.
As we always say in almost all our reviews, it pays to read what trading experts say regarding a broker. Reviews are meant to open your eyes in dealing with both legit and illegit Forex products. That’s why it’s imperative to read these reviews. Don’t be another victim by signing up with illicit brokers, always know the truth First hand. Here, we will expose all the dirty tricks used by FXIBA.
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According to the disclaimer at the footer of the homepage, FXIBA is owned by IBA Group Ltd. Doing a research on this company, we found only one company with that name. And that’s the IT company IBA. This is the first red flag that we spotted with this scam broker. Why would they use a fake company name?
Anonymity is a huge problem when investing anywhere on the web. And this is why this broker shouldn’t be trusted. There’s no actual details as to the people behind this brokerage firm. No name is given as to who created this platform or owners of IBA Group LTD. Don’t you think that this is weird?
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This broker with all their empty promises has never seen any licensing or registration from authorities. What this means is that we are dealing with an unlicensed broker who has no registry documents. If FXIBA had registration documents, they would have posted them on one of their pages.
Anyone who signs up with this brokerage firm is liable to loss. Note that we don’t know where this brokerage firm is located. This means that regulatory bodies cannot do check-ups. And this is what these scammers are looking for, anonymity so that they can’t be checked by authorities. Best you stay away from this scam.
FXIBA offers users four different account types to choose from. These accounts include Silver, Gold, Platinum, and VIP. Silver account holders must make a minimum deposit of $2000 to start trading. To be honest, this is way to high for a minimum required deposit. Standard acceptable minimum deposit that’s set by the industry is $250. Gold account holders must make a minimum deposit of $5000 to start trading.
Platinum account holders must make a minimum required deposit of $10000 to start trading. VIP account holders must make a minimum required deposit of $20000 to start trading with FXIBA. All these accounts come with not so notable differences. For instance, leverage for the first two accounts is 1:100 while last two accounts are 1:1000.
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According to their homepage, FXIBA uses MT4 trading platform. What they say is that their platform trades with no requotes, no rejections and have a flexible leverage. All this could be true if the platform did really work. What we did was try and download the platform on various devices. Sadly, this platform could not work on any device since download stalled at 20%. This means we are dealing with an unstable platform.
An unstable platform is bad for business since they attract hackers. Hackers find unstable platforms as breeding ground for personal data theft. Unstable platforms make investors easy prey to these scammers. Once hackers take over the platform, they will steal credit card information. Next thing, an investor will be agonizing for losing all their funds in their bank accounts.
Funds are not safe with this brokerage firm. For one, the broker is anonymous and there’s no way of reaching out to them. What this means is that if the broker decides to part with the deposits, no one can stop them. Also, we strongly believe that this broker is pooling funds in one account. What this means is that this broker does not segregate funds. Members share the same account which is highly unethical.
Do they offer a compensation plan? This broker will never compensate users for any unforeseen losses. A good example is if this brokerage firm would go bankrupt or insolvent. This is why you should stop thinking of signing up with this broker. Users may be depositing money straight to the owner’s personal bank account.
Folks, never sign up with a broker who you can’t quickly get access to. These brokers are merely scammers who don’t want to be contacted by anyone. Why would they not offer chat support? With this day and age, you would expect a broker to at least offer bot services. Not with FXIBA as they are highly incapable of offering these services. It’s clear that this broker wants to remain anonymous at all costs.
FXIBA is a scam that no one really should sign up with. This broker has no legal standing dealing with Forex services. From the level of anonymity to being unregulated, this is surely a scam. Best thing to do is stay clear from this broker and sign up with recommended Forex brokers. Make sure you mark all their emails as Spam and never click on any links sent by these fraudsters.
FXIBA Is another scam that we have to blacklist. This broker has all the pointers of shutting down without warning. Have no doubt, this broker only wants investors to sign up with them. Hope that relevant authorities will look into this brokerage firm and shut the whole site down. This is the only way to make sure no one else goes through what Olivia is facing now.
At all times, go for Forex brokers that have been Authenticated and Vetted by the trading community. This is a sure way of staying safe while trading with Forex brokers. Get to make realistic profits with Dependable and Genuine Forex brokers. This is a sure way of making money with Forex trading.
Remember to always stay safe all the time when investing in any online endeavor.
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