General Information
FFIB FX might be a broker registered in Cyprus. However, we checked the official website of the local regulator CySEC but could not find any information about the company. In other words, FFIB FX is not a legit broker. Please be aware of the risk!
Official Website Unavailable
As of now, the website of FFIB FX (http://www.ffibfx.com/web/main/) is not available. We can't even find any information about the broker online.
What are Common Broker Warnings？
1. The company is banned.
This is the worst thing that can ever happen to the brokerage firm. For some reason, if the broker is banned for operation in the market, you should not even consider it. There are some brokers that are banned by the regulator for operating dishonestly. Even though some of them are allowed to operate, they wait to be banned again by the regulator.
2. The investment activities of the broker are halted.
This means that trading operations of the firm are halted by the regulator to protect clients from losing their money. Sometimes traders also find such information on the broker site and other mainstream channels where companies might have to pay fines for violating rules set up by regulators. This can happen to any broker irrespective of their operating status.
3. The firm is facing penalties.
This means that the firm is facing some allegations or trials in the market. If you see such details, you should not invest in the company. Such brokers will never be trusted until proven otherwise. Once found guilty, they will have to pay fines or face other consequences for operations that are prohibited by relevant regulators.
4. Not regulated firms use this information.
Some companies pretend to be regulated but they are non-existent because there are no regulations in place for them to operate in the market. They use this information on the broker site to protect themselves from the potential investors who may hire them for investment activities. While the information is given in public, there are no chances of it being true. If you see such statements, you should immediately delete them because they are misleading.
5. The company is suspended.
This means that the company cannot accept any new client deposits until the investigation has been completed. This information might be seen on the broker site and other mainstream channels like trading forums where the best thing about it is that traders do not have to pay any fees because they can stay away from the shady firms.
Final Warning
The website is not available and there is no contact information. We assume that the broker FFIB FX might be closed or run away. Please be aware of the risk!
