CyberFX is an unlicensed Forex trading broker in South Africa, that opened in August 2018.
Cyber-FX is officially owned by CyberFX PTY LTD, which is located at: Business Exchange 38,150 Rivonia Road, Morningside, South Africa. Main contact phone number in SA is; +27 (0)11 589 9047. Customer support email address is: [email protected], and the official website is at: https://www.Cyber-FX.com/.
For broker complaints or problems with withdrawals, read this.
CyberFX Reviews
Forex Investors and Day Traders at the broker Cyber FX, can use the standard MetaTrader 4 Desktop, Tablet or Mobile trading platforms. Their list of available underlying assets for trading is officially over 300 assets.
CyberFX has CFD trading on Forex / Currency pairs, Gold, Oil, Individual Shares, Stock Market Indexes and Crypto Currencies. In the demo version we could only see classic Forex pairs.
Minimum deposit starts at $100, depending on your account type. Spreads and margin varies depending on account types and time of day. As a local company in South Africa, you can fund your trading account with an EFT to FirstRand or ABSA. Online transfers can be made via: MyGate, iPay and Zapper.
You will see that bonus money in offered to new investors. It is important to read the terms and conditions before accepting a bonus on your account.
Copy Trading & Alerts
Any online broker that uses the MT4 trading platform, has the option of adding on a free Expert Advisor plugin. At Cyber FX, they offer clients copy trading from their internal clients. Cyber Alerts is a paid service, which costs R1,000 a month. It says that you will get 2 signals a week ensuring 300 pips, but that doesn’t sound plausible.
Compare that with some other automated trading robots, see here.
CyberFX License & Regulation
When the Scam Broker Investigator reviews a broker, we check if they are legitimate or a potential scam by verifying that they have a license to operate. The best Forex brokers are legally registered and authorised by FCA in United Kingdom or FSB in South Africa. A licensed online broker, offers their investors added security and safety of their funds.
CyberFX is not a licensed broker.
Experienced traders and investors understand the importance of only trading with a licensed and regulated Forex broker.
Compare The Best Brokers
You have many licensed brokers to compare and choose from online. Start by reading the reviews of Top Rated Forex brokers here.
ForTrade is the fastest growing CFD broker in 2019. They are a legit broker that is licensed in Australia and England, see here.
Register a Free Demo Account, on their awesome trading platform, signup here.
If you are currently investing with this broker, Please share your experience in the comments section below.