FIBO

WikiFX | 2024-08-09 17:20

Abstract：FIBO is a brokerage firm registered in Hong Kong. This firm's regulatory status is suspicious clone because its actual company name does not match with the one on the regulatory certificate. And its website maybe has been shut down for years. There are some complaints and negative reviews about this broker, which make this broker untrustworthy to trade with.

Note: FIBO's official website: https://apk14.global-exptrade.com/ is currently inaccessible normally.

FIBO Information

FIBO is a brokerage firm registered in Hong Kong. This firm's regulatory status is suspicious clone because its actual company name does not match with the one on the regulatory certificate. And its website maybe has been shut down for years. There are some complaints and negative reviews about this broker, which make this broker untrustworthy to trade with.

Is FIBO Legit？

Regulatory Status	Suspected Fake Clone
Regulated by	FCA
Licensed Institution	FIBO Group Holdings Ltd
Licensed Type	European Authorized Representative (EEA)
Licensed Number	532885

FIBO's regulatory status is suspicious clone. From the certificate, we can see:

Licensed Institution: FIBO PTY LTD
Phone Number of Licensed Institution: 357 25105641

But the company name and contact number provided by this broker is “FIBO Limited” and “+0085230697555”. These inconsistencies show that they're providing false licenses to deceive traders.

Downsides of FIBO

Unavailable Website

FIBO's official website is currently not working. Maybe it's time to find another brokerage.

Lack of Transparency

You can only find limited information about this brokerage online.

Regulatory Barriers

FIBO's regulatory status is suspicious fake clone. Before choosing a brokerage, remember to consider the risk involved.

Negative FIBO Reviews on WikiFX

On WikiFX, “Exposure” is posted as a word of mouth received from users.

Please review this information before opening account with this brokerage. And you can consult our platform for related details. Report fraudulent brokers in our Exposure section and our team will work to resolve any issues you encounter.

As of now, there are four pieces of FIBO exposure in total. I'll introduce two of them.

Exposure 1. Fraud platform in Hong Kong

Classification	Scam
Date	July 19, 2021
Post Country	Taiwan

The user said:“Fraud platform in Hong Kong, be careful.” You may visit: https://www.wikifx.com/en/comments/detail/202107193632447188.html

Exposure 2. This platform is a scam broker

Classification	Unable to Withdrawal
Date	April 5, 2021
Post Country	Indonesia

The user said:“This platform is a scam broker, which induces fraud and cannot withdraw money.” You may visit: https://www.wikifx.com/en/comments/detail/202104055142961842.html

Conclusion

There are plenty of negative reviews about this brokerage on WikiFx. Its regulatory status, inaccessible website and these reviews on WikiFx are all signals showing that this brokerage is untrustworthy. It is better to choose regulated brokers with transparent operationsto ensure the safety of your investment. When comparing brokerages, keep the potential risks firmly in mind.