Thinking of getting into business with IBF Markets? Here is what you must know about this broker. Carefully read this review to find out if ibfmarkets.com is the trading platform you will want to trade with.
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About IBF Markets Broker
IBF Markets is an offshore brokerage company with a lot of promises for traders. The broker is a brand of IBF Markets Hub Ltd with an incorporation in St. Vincent & the Grenadines and also UK.
There are different account types IBF Markets offers.
Also, the broker claims to offer fast execution, zero spread, trading guides and superior tools.
In spite the trading instruments IBF Markets claims to offer, traders must know they are dealing with an unknown broker which does not have the regulation of Financial Conduct Authority, UK over its activities.
ibfmarkets.com: Reasons to Avoid This Broker
Firstly, ibfmarkets.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit because financial authority, FCA, UK does not recognize this forex broker.
Secondly, we noticed ibfmarkets.com has a free account for traders. We advise you don’t waste your time on that, so you don’t get lured into trading real fund with this unregulated broker.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are red flags for forex traders to avoid losing money with this scam broker.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, IBF Markets presents no information on that for forex traders, but we believe there are charges traders will have to faced.
Minimum Deposit
IBF Markets minimum deposit is said to be $25.
As for the payment methods, we can make payment via Credit/ Debit card and Bank Wire Transfer. However, you should not consider making any payment with this broker because it is a risk. So beware!
IBF Markets Platform
IBF Markets offers Web trader and MT4. The MT4 option, however, doesn’t make the broker legit because any scam broker can do the same to lure forex traders.
As for the leverage, it can get up to 1: 200. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
IBF Markets Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Licensed in Australia(ASIC) and Cyprus(Cysec)
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Conclusion: Is ibfmarkets.com a Reliable Broker?
No, ibfmarkets.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.