First Brokers is a forex broker that is located in the Marshall Islands. In the review below, we take an in-depth look at the features fbroker allegedly offers. The review covers aspects of its licensing, its account types, its leverages, its withdrawal and deposit methods. Read through our review to see what we and other experts have to say about Fbrokers.io .
Table of Contents
First Brokers Trading Platform
Fbrokers.io is a professional and well-designed platform, using a black theme to accentuate the features it claims to offer.
After going through the website we discovered that this broker support neither the MT4 nor the MT5 trading platform. They use a platform that is mostly used by scammers to offer assets such as Forex (with leverages up to 1:100) CFDs, Indices, Stocks, and Precious metals.
This broker claims that these are following perks with trading with them.
- Most popular and active pairs
- Trusted professional veterans
- Charting that works
- Account management
- Choice of traders globally
- Amazing reliability and value
- Fastbreak
FirstBrokerz Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea as to how a broker might work.
After thoroughly checking we discovered that this broker has four account types
First Brokers Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us, because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
According to the website, FirstBrokers cites its deposit methods as Visa, Mastercard, and two bitcoin options.
This broker claims not to have any withdrawal fees.
Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume in order to be eligible for withdrawal. This is purposefully done in order to stop traders from making a withdrawal
Is FirstBrokers Licensed?
Licensing is another important part, because a regulated broker can be trusted to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it is actually regulated.
First Brokers claims to be owned by Tera Holdings Ltd. And it also vaguely give some statements that make it seem that Tera Holdings is registered in Hong Kong, but does not clearly say that it is regulated there.
Securities and Futures Commission regulate the trade in Hong Kong and after a search in their database, we couldn’t find any information pertaining this broker.
So, no this broker isn’t a licensed broker
Traders should always ascertain if a broker is licensed before investing in them. They should check regulatory bodies such as the FCA in UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy and many others.
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Conclusion
We wouldn’t recommend using this forex brokerage, we are not impressed with the vague information they have provided.
In conclusion, we wouldn’t advise or recommend you to trade with FBrokers.io as they don’t give any information concerning if they are a regulated broker.
Fbrokers.io is likely a platform run by scammers, trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading options.