Fibonetix Review – 5 things you should know about Fibonetix.com

Fibonetix Review – 5 things you should know about Fibonetix.com

Beware! Fibonetix is an offshore broker! Your investment may be at risk.

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Fibonetix is a Forex brokerage registered in Belize. According to the brokerage clients are extended an extremely generous leverage of up to 1:400. Furthermore, there is wide range of trading products from which to choose and a required minimum deposit of $250 which is just about the industry average.

Fibonetix regulation & safety of funds

Even though we read on the website of Fibonetix the company behind the brokerage is actually registered in the Republic of Belize with the name Zeus Tech & Trading Group Ltd, whose address is at 21 Regent Street, Belize City, Belize. The Republic of Belize is a very popular destination for scammers due to the very liberal laws regarding the registering of firms.  However, the country does not regulate online Forex trading – we can safely conclude that Fibonetix does not fall under any regulatory oversight. Another troubling aspect of the brokerage is that it does not disclose what sort of trading platform it provides, nor does it give any access through a demo account. This is problematic because traders cannot get acquainted with the trading conditions of Fibonetix.

Such irregularities are the usual “tell” of a scammer. With no regulatory oversight we can’t be certain about the company behind the operation and whether it will fulfill its obligation towards clients. Furthermore, the lack of a demo account for the trading platform, as well any sort of more detailed information regarding the trading conditions of the brokerage highly inclines us to question the legitimacy of Fibonetix. Traders that decide to invest with the brokerage may be open to substantial risk.

We urge traders to exclude such risk in trading by only associating with brokers regulated by prestigious regulatory agencies, such as the FCA and CySec, which require compliance with a number of strict rules that give significant assurance for the security of the clients funds.

The segregation of accounts is among the rules which are especially important in the trading world, because it drastically lowers the risk of possible commingling.

Another is the participation in a compensatory scheme by which the client’s losses will be covered in the unlikely case the broker goes bankrupt or attempts to swindle traders.

Fibonetix deposit/withdrawal methods and fees

Potential clients of the brokerage may deposit or withdraw via Visa, MasterCard, Bitcoin, Ethereum and Bank wire.

The brokerage openly states on its website that it has a minimum withdrawal amount of $250. Furthermore, the brokerage states that accounts that are active for less than 30 working days and hve less than 25 trades will be charged 150 Euros service fee.  Here is a screenshot:

Such withdrawl provision only speak about the ill-minded intentions of the brokerage. It is obvious that the only way Fibonetix wishes to make money is through syphoning the initial deposit of clients through the many fees it has come up with. The dormant account fee is quite excessive and shouldn’t be among the conditions of a legitimate brokerage. Having in mind all that was stated above, we advise traders to always put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.

How does the scam work?

Information is a pretty solid criteria for judging a brokers legitimacy. Scammers would not share much of their information, because precisely there inconsistencies and irregularities may appear which expose the whole set-up. A good example is this very broker and the misleading information it gave regarding its regulatory status.

After informing themselves for the brokers trading conditions – traders should be well-versed in the way of the scam:

Through clicking an ad with promises for fast money, you will be redirected to a website such as  Bitcoin Evolution or Crypto Revolt where registration will require you to give your email and phone number. After sharing your personal information, you will being receiving calls from brokers, compelling you to invest with them and win big. After a few minutes hearing their pitches, you decide to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit.

After they are done with you, senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.

Unfortunately, the con-artists have no such thing in mind. They will now begin persuading you to wait it out and not withdraw right now. The motive here is quite straightforward – traders have a limited time window for filing a chargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing this crucial period and, along the way, losing any chance you might have of getting the money back.

What to do when scammed?

As was mentioned above, scamming is quite the common in the trading world and, sadly, even you might suffer from it. In such an unfortunate case there still may be some available options for you.

You may contact your bank or credit card provider and file a chargeback. Furthermore, due to the high instances of fraud – both Visa and MasterCard have decided to sidestep scammers as best they can in forex trading. The first thing we have seen so far is that MasterCard has increased the previous time period of six months for filing a chargeback to a year and a half with their peer Visa expected to follow suit in December.

If, however, you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate to recover their losses. They will require an “up-front” payment to help you, but after paying them, no such help will be coming your way!

Rich Snippet Data
Review Date
Reviewed Broker
Fibonetix
Broker Rating
1.21star1stargraygraygray

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9 Comments

  1. I want to trade on cannabis stock market

  2. My mother was scammed into opening an account by Fibonetix. She is 78 years old. She gave them her credit card details and the 250 Euros needed. So I logged on to find out what this was about and received a call from them. When I told them about my mothers account and she had no access online to her trading account they hung up the phone. When I tried to call them back the number does not work.
    DO NOT DO NOT GIVE THEM ANY MONEY

  3. Do not Trade with Fibonetix. You will be scammed and locked out of your account

  4. Ellen Charalambous

    so this has happened to me also, i’ve been locked out of my account, so how now do i get my money back.

  5. I registered today, but not gave any information (credit card, passport…); How can I delete my account?

  6. Werner Braun

    Habe am 6.3.2019 an fibonetix zunächst € 250 per Kreditkarte und dann, nachdem mich der Account Manger belabert hatte, noch einmal €5.000 auf ein ausländisches Konto überwiesen. Durch etliche Trades wurden bis zum 1.4.2019 € 3.865,10 Gewinn erwirtschaftet. Dann war Ruhe und ich bekam einen neuen Account Manager. Wie sich mittlerweile herausgestellt hat, ist der auch nicht besser als der erste. Nur Vertröstungen, keine “Action”. Nach diversen Telefon Versuchen und etlichen Mails wurde am 15.04.2019 der Gewinn plötzlich auf € 6.566,54 hochgeschraubt. Somit stehen angeblich € 11.816,54 zur Auszahlung bereit. Mittlerweile hat sich der Betrag auf über €14.000 erhöht. Alle bisherigen Auszahlungsanträge wurden abgelehnt. Der letzte vom 30.04.2019 steht noch in Warteposition. Beim Auszahlen tut sich die Firma sehr schwer. Habe angedroht, die Angelegenheit über meinen Rechtsanwalt der Polizei, den Banken und der Presse bekannt zu machen. Bin mal gespannt
    ——————————————-

    On February 6, 2019, I initially paid € 250 to fibonetix by credit card and then, after the account manager had debited me, transferred another € 5,000 to a foreign account. Through several trades were generated until the 1.4.2019 € 3,865.10 profit. Then it was quiet and I got a new Account Manager. As it turns out, that’s no better than the first. Only consolations, no “action”. After various telephone attempts and a number of mails, the profit was suddenly raised to € 6,566.54 on 15.04.2019. Thus, supposedly € 11,816.54 are available for payment. Meanwhile, the amount has increased to more than € 14,000. All previous payment requests have been rejected. The last of the 30.04.2019 is still in waiting position. When paying out, the company is very difficult. Have threatened to publicize the matter through my lawyer to the police, the banks and the press. Am curious

    1. Zeljko Pokrivac

      thay ask me also to invest did you get your money?

  7. The company offices are located in Kiev and Belgrade. It’s a scam company that runs by a Ukranian guy who control both offices.
    It’s 100% scam and their goal is to get as much money in wire and crypto currency and be gone.

  8. its a scam i got money back of credit card

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