Fibovest Review: Warnings & Red Flags

Summary:

Fibovest seems to be a legitimate CFD trading platform based in the UK, suggesting fast execution and nice spreads. Having said this, there are several regulatory warnings over the platform, and they do not appear to hold a valid license. Therefore, it will be assumed that Fibovest is highly suspicious and likely a scam.

Website – https://fibovest.com/

Website Working – Yes

Address – Level 15 Great West Road, Middlesex, London, TW8 9DF

Regulated – No Regulation

Blacklisted By Any Regulatory – Financial Conduct Authority (United Kingdom), British Columbia Securities Commission (British Columbia), and Financial Market Authority (Austria)

Check FCA Warning – https://www.fca.org.uk/news/warnings/fibovest-wwwfibovestcom

Domain Blacklisted – It seems there is no direct mention of this domain being on a blacklist.

What is Fibovest?

Fibovest claims to be a broker based in the UK, allowing for Contracts for Difference (CFD) trading. The platform claims to offer a lot:

Competitive rates
Fast order execution
Client success

The offer sounds fantastic, but something does not add up.

Fibovest Review: Red Flags to Note

1. No Valid Regulation

Fibovest states it is operating from the UK.
In the UK, the Financial Conduct Authority (FCA) is responsible for overseeing and authorizing brokers.
The FCA does not show Fibovest as an authorized firm.
Furthermore, Fibovest is offering services to trading clients without authorization, according to a public warning issued by the British Columbia Securities Commission (BCSC).
Also, Austria’s Financial Market Authority (FMA) issued a warning against Fibovest.

2. No Legal Protection

In the UK, because Fibovest is not regulated by the FCA or any other regulator we know of, clients’ money will be at a very big risk. In the event of any disputes, legal disputes, or lost funds, there is also no legal safety net for clients to recoup their money realistically.

3. Possible Scam Tactics

These kinds of unregulated brokers often have attractive specials to lure investors in. They also usually offer expected high returns on sales. Therefore, they always get their money first, then they start playing their scam/esque games, never paying the investor or possibly delaying withdrawals, blocking the account.

Conclusion: Is Fibovest Safe?

Fibovest doesn’t seem legit if you consider the regulatory warnings and lack of license on its website. All of the characteristics are there, suggesting they are a scam broker. You should stay away from Fibovest; instead, use brokers that are regulated by trustworthy authorities (e.g. FCA, ASIC).

Take Action Now with Legal Certifi

Have you invested your money with Fibovest, and now you have an issue with withdrawals, or things are looking dubious about transactions on your account? Don’t let it get worse – Act now with Legal Certifi.

At Legal Certifi, we focus on helping the victims of unregulated brokers like Fibovest. Our experienced team is familiar with how these entities operate and knows how to deal with them. We’ll help you collect information, make appropriate complaints to authorities, and finally recover your money through the legal process.