This review proves that Fibotraders is a scam broker that you must avoid if you do not want to lose your money.
However, if you’ve already lost money to this broker or any other, you should APPLY FOR A CHARGEBACK quickly because shady brokers like Fibotraders will never return your money no matter how you complain.
They’d rather spoil their reputation online that return the loot because their main agenda is to scam you, not to prove you with a transparent trading environment.
Is Fibotraders a legit broker?
Fibotraders cannot be a legitimate broker. The Italian regulator, CONSOB has even published a warning on their website against this broker.
The regulator is concerned with the fact that the broker is targeting traders using a financial product that requires a license but this particular broker does not have a license either.
Not only does this broker lack authorization, but they are also anonymous as it is impossible to tell who is behind the company or the exact location of their offices.
They all want your money but cannot prove that they will take care of you. They’re all bucket shops that are determined to trade against you and make you lose money even if you have the best trading equipments.
Based on these facts alone, we can say that Fibotraders is detrimental to your success as a trader.
Are your funds safe with Fibotraders broker?
We see that the minimum deposit that this broker wants is $500. They do not even have a demo account yet all professional brokers allow traders to start with virtual money before they can go live.
Furthermore, $500 is too much of a risk for beginners. Other broker’s minimum deposit is $200. But this broker is quite hungry for your cash.
This is the worst broker because they do not care whether you will lose your money or not.
Such brokers are usually classified as fly by night operations. They can disappear anytime and there will be no recourse for you in the form of insurance or anything.
How to recover your money from this broker
It is very easy to get your money back if you know how to. Since Fibotraders is a scam in itself, you don’t expect them to return your money if you approach them over the matter.
So you must go the professional way by CLICKING HERE TO GET A CHARGEBACK. This process involves financial institutions like banks and law enforcement agencies across the world. They pursue your funds until your money is returned back to you.
Fibotraders review: the conclusion
We strongly discourage using this broker because we’ve seen all the red flags and we consider them serious warnings.
Not only has the broker entered the black list of regulators, but they’ve also proved to us that they cannot be trusted.
Stay away from this broker and also share this review with others to help them avoid the trap.