Countries in Europe, Asia, the United States, Australia and Africa are literally flooded with online brokerage projects run by scammers, thieves and liars. There is only a small percentage of legitimate brokerage projects which offer exchange intermediary services on their Internet sites. Behind the other proposals, unfortunately, there are speculators, who are guided by one common goal - to lure and steal as many investors as possible. As soon as the number of deceived clients reaches critical values, the site, which yesterday positioned itself as an internationally popular broker, disappears and is reborn in a similar project, but under a new name.
So does the hero of this review - the dubious company Fiber Markets, which is located at fibermarkets.com.
Upon first acquaintance with the site the user is greeted by a registration form.
In other words, before you have had a chance to see what kind of project is in front of you, what trading conditions it offers and how it differs from dozens of similar projects, you are already offered to register and provide your personal data: name, phone number and email address. By the way, the form is in two languages, as is the site, in principle - in English and Turkish. No, it does not look at all like what many people expect, every line here is not duplicated: just partly written in English, and partly in Turkish. Probably the leaders of a global company are sure that Turkish is known by citizens of many countries, as in the case of English, for example.
The site looks typical of the majority of such non-serious companies, which ask users for serious money. On every page Fiber Markets extols itself and its services, calling it popular and world famous.
However, these are all meaningless words with no proof or factual evidence, a typical unfair advertising, prepared by scammers.
Moreover, users who plan to cooperate with the so-called brokerage project Fiber Markets should know that it is possible to find an absolutely identical site, but with a slightly different address - fibermarkets16.com.
This fact makes traders wary and think about how justified it will be to invest in such a dubious trading platform as Fiber Markets, if the site has mirrors or clones.
Types of trading accounts offered by Fiber Markets
Fiber Markets platform offers several types of trading accounts, including Swap-free (Islamic) Account, Fixed Account, ECN and Demo.
For each of the accounts the traditional description is offered.
Such information can be easily found on the Internet. Here swindlers don't specify what their clients have to deal with.
Just a standard description, with no indication of the minimum deposit size, no information about leverage, rates, bonuses or other important numbers that are needed in the work of every trader.
Just go in, register, and then, but even that is not certain, the Fiber Markets managers will deign to shed light on the details of cooperation. But even that is highly questionable. Such information should be shared before a user registers and deposits money. Otherwise it looks more like a typical fraud and conscious non-disclosure of important information than the unique offers that Fiber Markets promises.
Fiber Markets Trading conditions
The site provides standard general information, where Fiber Markets promises the speed of payments, professional advisory support and training, low spreads and so on.
All this is billed as advantages of this company over others. However, every online brokerage project has such promises without exception. Moreover, this dubious broker Fiber Markets does not give explanations. For example, it doesn't tell how fast the payment transactions are and how low the spreads are. So you can go through each offer and the remarks will be the same.
For example, while offering more than 140 instruments in the trading process, Fiber Markets doesn't tell which options are possible for the platform's clients. This way you can advertise 200 and 300 positions, because no one will know about them. This dubious fraudulent broker was only able to mention 3 of the 140.
As for the web platform, Fiber Markets says that customers here are able to take advantage of the world's high-tech programs.
Perhaps such information will satisfy a beginner in the field of trading, but an experienced investor will immediately notice the dangerous signals. In fact, Fiber Markets cooperates with sites that offer "software for automated trading". This is yet another alarming sign, for it is on such resources that fraudulent schemes are actively practiced, which have deprived many trusting and inexperienced traders of their money.
Also on their official site Fiber Markets tells about some new campaigns, which give traders an excellent opportunity to increase profits.
What exactly the con artists of Fiber Markets mean - it is not clear. How their Campaigns will help traders in trading - is also unclear. And if they talk about new Campaigns, where you can see the results of the previous ones - also no information.
Fiber Markets Licenses
The Fiber Markets Company or project, which offers its financial services at fibermarkets.com, raises many questions about the competence of its employees, the quality of the Internet resource itself and the legitimacy of the company as a whole.
The site states that the company is located at St.Vincent and Grenadines. It is located at First St Vincent Bank Ltd, James Street, Kingstown.
This is an offshore location, which significantly reduces Fiber Markets' already poor reputation . Companies that even have licenses from offshore regulators are not trustworthy. Practice shows that protection of traders when cooperating with such brokers is at an extremely low level. In order not to lose their money investors are better not to choose such dubious intermediaries in exchange operations.
The site of the local regulator has information that a company with a similar name has their license.
It is not known whether this is the hero of our review or some other organization whose name the crooks decided to borrow. It is quite possible, if you pay attention to the fact that there are equally filled sites of the same company with changed addresses.
As Fiber Markets themselves assure, they have a license issued to St. Vincent and Grenadines from 2019. This is a dubious bonus, since this is a territory with very flexible, or rather weak, regulation. Practice shows that unregulated brokers prefer to be based in countries where they will not have problems with the law. For instance, 80% of the dubious brokerage projects indicate Saint Vincent and the Grenadines and the Marshall Islands as their registration place.
There are even pictures of the documents on the website.
The license number corresponds to the number listed on the regulator's website. However, even here Fiber Markets is also caught in a lie.
On the site they assure that they have the document from 2019, but on the license form there is a different date - June 3, 2020.
Let's turn to the WhoIs domain name verification service to see the history of Fiber Markets' website.
It turns out that the site was registered back in 2016. The update is dated May 2021. The experience of writing more than a hundred reviews about online brokers suggests that when the domain was registered, the site had nothing to do with this brokerage project. Probably Fiber Markets is a fraudulent company that bought the domain and was only established in May. This is a typical practice for fraudulent projects that are designed to steal their clients' money for a few months.
The owners of Fiber Markets themselves pointed out the low reputation of their dubious project because they registered the domain name of their site with a domain name registrar whose main buyers are spammers and scammers.
Despite the fact that the company emphasizes the presence of a SSL certificate, it is not a guarantee that traders fibermarkets.com deal with a 100% legitimate online exchange intermediary.
The information on the site that Fiber Markets is leading the financial market is shattered by the facts, when reviewing the project's operations in detail, with fraudsters behind it.
Checking the information about the availability of documents, we had to be convinced once again that Fiber Markets is just another unregulated Forex broker. This means a lack of protection for customers from the fraudulent actions of a dubious broker who, under such circumstances, is able to avoid responsibility every time he cheats.
Fiber Markets Reviews online
It is noteworthy, but even for a few months of presence on the market, Fiber Markets has not received a single customer review online. Neither in Turkish nor in English. What to say about Fiber Markets information from their own website that they have been operating since 2019.
Safety and security of funds with Fiber Markets
Working with offshore brokers, such as Fiber Markets, creates higher risks for traders. Fiber Markets can only guarantee the safety of its clients' money in words, as its actions are completely uncontrollable.
All risks and problems are placed on the customers. Fiber Markets reserves the right not to be responsible or liable for anything.
Fiber Markets is a typical unprofessional scam broker. Again, this broker should definitely be avoided because it has no decent documents and is not part of a regulated financial market.
Moreover, its website provides false information, and the resource itself is so uninformative that there is not even a minimum deposit amount to enter the trading platform.