When we come across a trading firm with a generic name, such as Fibonacci Trade, our first thought is to wonder what they are trying to hide. Typically, trading firms strive to be distinctive and original. Scammers, on the other hand, will frequently try to avoid reviews and regulatory warnings by using a term that is as common as something else. The broker is referring to the Fibonacci trading indicator in this case.
Read our in-depth Fibonacci Trade review to learn what this company is trying to hide.
Furthermore, we strongly advise you to avoid fraudulent brokers such as TopTrade500, Broker Capitals, and Group-500.
Broker status: Unregulated Broker
Regulated by: Unlicensed Scam Brokerage
Scammers Websites: fibonacci-trade.com
Blacklisted as a Scam by: N/A
Owned by: N/A
Headquarters Country: N/A
Foundation year: 2022
Supported Platforms: WebTrader
Minimum Deposit: 250 EUR
Types of Assets: Forex, commodities, indices, shares, cryptocurrencies
Maximum Leverage: 1:200
Free Demo Account: Yes
Accepts US clients: No
Is Fibonacci Trade a Scam or a Safe Broker?
The first issue we’ve encountered is a lack of Terms and Conditions. Without these, we know nothing about the company’s owner, legal jurisdiction, or trading terms. If a problem occurs, you have no one to blame, and taking legal action against the sham website is nearly impossible.
We looked into all of the major registers in the areas where Fibonacci Trade offers financial services. We discovered nothing on Fibonacci-trade.com after searching the records of ASIC, FCA, AMF, BaFin, and others. It suggests that this is yet another unregistered trading company luring clients into the scheme.
Reasons to Avoid Using an Unlicensed Broker
Certain obligations accompany certification. Brokerage firms should have a compensation fund, provide negative balance protection, keep client funds in different accounts, and have a minimum capital of 750,000 EUR.
Unregulated and offshore brokers do not adhere to these rules, making it difficult to recover money after being scammed. There is no oversight or dedicated funds for potential victims’ compensation.
Fibonacci Trade Crypto-Assets: A Trading Opportunity or a Fraudulent Scheme?
Fibonacci Trade provides a variety of trading assets but reinforces cryptocurrency as the primary one. Most brokers today are taking advantage of cryptocurrency as the most volatile asset on the financial market, promising clients thousands of dollars in quick profit. A person may believe in a compelling story and invest their hard-earned money due to a lack of knowledge.
You should be aware that the Fibonacci Trade broker is not a legitimate company.
Fibonacci Trade Broker Scam? – Allow Us Hear Your Story
It’s time to pursue financial restitution if Fibonacci Trade defrauded you. Contact us right away instead of letting this fraudulent broker get away. Schedule your free consultation today, and our experts will gladly assist you with the chargeback procedure.