Beware! Fibonacci-Trade.com is an offshore broker! Your investment may be at risk.

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Here we have a dangerous broker by the name of Fibonacci-Trade.com, a scam that does a good job of hiding its secret while presenting a solid website. It’s safe to say that readers have come to the right place here, for we are about to disassemble this entity and find out just how much of Fibonacci-Trade.com’s claims are true. So, press on, and remember not to invest before reading the text.

The user area that we accessed was actually good, and yet the moment we registered we were directly driven to the depositing section enlightening us of the broker’s true intentions; it cannot wait for your investments!

We accessed a web trader that revealed the following tradeable assets: equities, cryptocurrencies, indices, forex currency pairs, and metals. The EUR/USD spread is of 1.2 pips, a good value for sure, while the leverage was capped at 1:200. A waste of good trading conditions on a crooked broker.

FIBONACCI-TRADE.COM REGULATION AND SAFETY OF FUNDS

We are told that the broker follows all MiFID guidelines and rule, but this is not a regulator, but a set of legislation written in order to create a more transparent and risk free European FX and CFD trading environment. All licensed brokers must adhere to it, but they automatically do so the moment they get regulated by the relevant local authority. Fibonacci-Trade.com circumvents the local license and directly follows MiFID guidelines, which it does not, for there is no guaranteed safety here. The broker does not claim to be licensed anywhere.

In the legal docs, buried in the shady clauses one finds a claim that the broker is in fact patron of the laws of Estonia, but this is a popular shady claim. We are yet to discover the reason why so many unlicensed brokers use the jurisdiction of Estonia as pretext for their shady activities. The nation has its own regulator, so it doe snot really make sense.

Nevertheless, Fibonacci-Trade.com is unlicensed and a risk to all!

If you are investing in an unregulated broker better not invest at all; at least in the latter occasion you will not be ensnared in an investment scam that will not only take your money but will greatly waste your time and energy. Better yet, if you have the will to invest, and either are skilled at it or want to expand your knowledge, there is no better way to go than any of the EuropeanUKUS, or Australian brokers we have compiled for you. These are all regulated, and so are up to industry standards, but are also limited in the amount of freedom they can have by some of the top regulators!

FIBONACCI-TRADE.COM TRADING SOFTWARE

What we have here today is an overall decent web trader.

We have to admit that we like this trading software, and that it’s a new arrival on the market. It has a decent amount of features, and it would be a perfect trading companion for new investors who are jest getting into the business of FX trading. But to be offered as the sole software of an entire broker is to tone everything down, but it’s obvious why Fibonacci-Trade.com offers this software in the first place: to have something for users to hold on to while the broker drains their money; it’s the same old story.

FIBONACCI-TRADE.COM DEPOSIT/WITHDRAW METHODS AND FEES

There are two main payment gateway, through a credit card and a debit one. The minimum investment requirement is $250. This is the truth, because it was taken from the user area, so you know that there the broker has nowhere else hide. These might sound like great payment details, and they objectively are, but the broker is unregulated and so any investments here are risky no matter how good they sound.

The withdrawal area reveals that the payment methods there are credit card and a crypto wallet, but seeing that there is no crypto for depositing, Fibonacci-Trade.com is going against money laundering laws, which is a very clear sign of its illegitimacy.

We also have to mention that there might be some fees, as in the terms and conditions the broker vaguely mentions some charges. But these should not be a worry to users because they should not have invested in the first place. This broker is a risk to all!

HOW DOES THE SCAM WORK

Scams have surprisingly little evolved over the past decades since their inception. It’s basically the same principle being rendered through different sites and by a plethora of different agents.

The core remains the same. The broker tries to grab the client’s attention either by advertising false profit gains, or by directly contacting the user, who is the vastness of the internet let his guard down at some point and either provided an email or a phone number to some now forgotten source.

Should the user get contacted (or fall for the ads) he or she will be shown to the website of the investment fraud and promptly be pushed to invest, either by sweet talking representatives of the scam, or by the account manager which is also the one that keeps the whole thing in check.

The ultimate goal is to compel the user to invest once, and after that the trap is fully shut. The client already lost money, and any further investments are a bonus to the broker. All withdrawals will not be available, and even if the broker seems to be keeping a straight face, it’s all part of the scheme.

Sometimes the users will get a small teasing taste of profit, just so they are motivated to invest more. But after that one time is when most clients realize that something is wrong.

WHAT TO DO IF SCAMMED

The best thing to do is to file for a charge back with your credit or debit card provider, provided that you had previously invested via them. MasterCard and VISA have a chargeback period of 540 days, so its relatively easy to get reimbursed, and that’s why fewer and fewer scammer brokers are offering card payments.

An easier way to lose money is through wire investments. The only advise we can give you is to contact the bank as soon as the money has been lost (or when you realize you have been played). That and to change your bank account password and user name!

We come to the favorite investment methods of unlicensed brokers – crypto wallets. These are untraceable, and thus once a payment goes through it’s finished! There is no real way of getting one’s money back.

Also do not trust recovery agent or agencies promising to get your money back. These will fee you a hefty sum in return for their services, but as soon as you pay them they will disappear!

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2 Comments

  1. Patrick Bruininks

    Unfortunately, it happened to me! It is all a big scam, and you will never see your money back. Be carefull with Fibonacci Trading!

  2. I am being asked to have 30% of what I have made before they release my money because of investigation in Crypto.com I put in 6k and now have 37k in there so I’m being asked to have 11.5k in my Crypto.com wallet so they can release it all I want is my 6k investment back and how do I do it when it was sent from Crypto.com

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