IB Finanzas broker earned 3 regulatory warnings and many negative comments in just four months. Thus, we decided to check this firm and verify its operation so that nobody would fall for the scheme again. Read our IB Finanzas review and find it all out.
| Broker status: | Offshore Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | ib-finanzas.com |
| Blacklisted as a Scam by: | CNMV, FSMA, Finanstilsynet |
| Owned by: | Sun Media LLC |
| Headquarters Country: | Saint Vincent and the Grenadines |
| Foundation year: | 2022 |
| Supported Platforms: | WebTrader |
| Minimum Deposit: | N/A |
| Cryptocurrencies: | Available |
| Types of Assets: | FX, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | N/A |
| Free Demo Account: | No |
| Accepts US clients: | Yes |
What About IB Finanzas Regulation?
IB Finanzas is a brand of Sun Media LLC, based in Saint Vincent and the Grenadines. Since this offshore island doesn’t have a financial regulator ever since the FSA decided to direct Forex brokers to opt for a license in the country of service, we had to check what it means for IB Finanzas regulation status.
As suspected, the firm never obtained any Tier1 license with FCA, ASIC, BaFin, or any other regulator. Therefore, it’s another scheme on the financial market that you should avoid.
Why Must A Broker Have a License?
When you start investing, you want to ensure that the firm won’t disappear with your money or declare bankruptcy while owners enjoy your hard work. That’s why a broker needs regulation, and if it’s a Tier1 license, it needs a compensation fund.
Since IB Finanzas doesn’t have any of these two, your funds are at risk.
In order to add to the above, we strongly advise you not to invest in fraudulent brokersSwissFXM,FinanceCapitalFX andMetaFMI.
IB Finanzas Warnings From Financial Regulators
After numerous complaints, the trading company was blacklisted in Spain, Norway, and Belgium.
The Spanish CNMV stated that this firm could not provide financial services, including Forex trading and financial advising.
The same warning was issued by Belgian FSMA and Norwegian Finanstilsynet.
Traders Reviews of IB Finanzas
The broker cannot brag with reviews. The firm is mainly rated negatively, with clients explaining everything that happened to them. We learned from these reviews that IB Finanzas asks for a different initial deposit from clients, depending on their financial situation and ensuring they won’t get withdrawals due to various excuses. Be aware of this, and don’t invest your funds with untrustworthy Forex and CFD providers.
What Platforms Does IB Finanzas Offer? – Available Trade Software
The firm didn’t spend much time explaining its trading platform. From all we can see, it’s a proprietary WebTrader, and it lacks some advanced functions. For instance, you can open and close trades, see trading history and apply some indicators. However, there are no EAs, social trading, and more, and the platform is far less secure than MT4 or MT5.
All About IB Finanzas Accounts
Once again, we’re facing a lack of information. The company claims to have different account types, including those suitable for beginners, intermediate-level traders, and experts. Yet, the list of these accounts and their perks is missing, and so is the initial deposit.
Does The Broker Have A Demo Account?
Since the firm doesn’t provide a list of Live accounts, we were not surprised to learn that there’s no Demo account either.
IB Finanzas – Operating Countries
The website was registered in February 2022, and ever since, the company has been active in:
- Spain
- Serbia
- Bulgaria
- UK
IB Finanzas Range of Trading Instruments & Markets
If you’re still interested in this investment firm, here’s a brief overview of trading assets.
- Currency pairs – EUR/USD, USD/JPY
- Commodities – gold, natural gas, crude oil
- Indices – NASDAQ, FTSE100
- Stocks – Amazon, Apple, Facebook
- Cryptocurrencies – BTC, ETH, XRP
Please, also remember the names ofSoltechx,EuroTradesandWarden VCscams and avoid them at all costs! Also, always check the history of online trading companies before investing!
Scam Bonus Policy
Every scam firm has a malicious Bonus Policy, but this one is advanced. If you accept any bonuses, you will have to trade 1 lot for every $5 you receive from the company. Just to clarify, it means that for a $100 bonus, you will have to trade $2 million. Therefore, it’s just another way to pressure you to invest more funds and reach the rollover sooner. Don’t trust scam brokers and their incentives, and always remember that regulators have banned such giving because of scammers like IB Finanzas.
IB Finanzas Trading Conditions
IB Finanzas spread starts at 2.6 pips for EUR/USD pairs, which is exceptionally high. Other than that, the company hasn’t mentioned leverage or any fees and commissions you will have to pay. Based on the spread, we can conclude that most of your profits will be used to cover alleged fees and taxes for the company, and you’ll be left with nothing.
IB Finanzas Deposit, Withdrawal Methods, and Fees
The company accepts the following payment methods:
- Debit/credit cards
- Wire transfer
The withdrawal must be made using the same method you have used to deposit the funds. Depending on the payment methods, you’ll have to pay a fee of 25-50 EUR for each withdrawal. Bear in mind what we said about Bonus Policy because it’ll affect your eligibility for withdrawals.
Scammed by IB Finanzas Broker? – Let Us Hear Your Story
If you were scammed by an IB Finanzas broker or a similar fraudulent firm, let us know. Our chargeback specialists are ready to evaluate your case during a free consultation and advise you on the best way to recover your funds.
But What Is A Chargeback?
This is one way for your bank to recover stolen funds directly from the merchant. Act now, and let’s get your money back before it’s too late.