CBB Review – Can you trust them with your money?
CBB Forex Broker is a financial service provider that claims to have the largest number of traders in Eastern Europe, however, the internet does not have any valuable information from other traders about the company. We were not even able to find reviews from experts, which left us quite surprised, considering the fact that CBB proves to be operating in the industry for more than 4 years now. Another important thing we discovered is that the main webpage says that CBB is fully regulated and licensed by three different financial regulatory bodies that are considered trustworthy and reputable – After doing some research, it turned out that this information is a complete lie, and far from the reality, which makes us believe that the company is a scam trying to get your money.
The leverage offered by CBB is up to 1:500, but the site does not say anything specific about spreads. Traders from all around the world pay attention to the software that brokerage companies use, but CBB FX Brokerage does not seem to be using any of the trading tools that we know including MT4 or MT5. The only thing they mention is that they use the application of VPS technologies – a virtual dedicated server that stabilizes your trading, but there is not a single reason why you should believe it as we were not able to use it ourselves.
Currently, the minimum deposit amount is set to $1000, but it can go higher for other types of accounts. One can open up Start, Standard, and Trader Pro account. With these, it is possible to trade currencies such as metals, commodities, stocks, indexes, and cryptocurrencies.
Is CBB Legit?
We can say for sure that CBB Trading is not legit, as the information they provide you with is not true and very far from reality. The company says that it is regulated by three different commissions, including The BHSFU (Belize Securities and Exchange Commission), IFSC (the international Financial Services Commission), and FSC (financial services commission of the Republic of Mauritius). All of these are highly reputable companies, but with the license numbers that CBB provides, it is impossible to find this brokerage in their list of licensed platforms, which means that CBB is unregulated and you can not trust them with your financial assets. With fraudulent companies, it is impossible to take legal actions, as they are not authorized to provide you with financial services.
CBB Review – Trading Features
In order to find out whether you can trust this company with your money, we decided to provide you with all other important trading features, so you won’t feel like you are missing out on something.
Leverage & Spreads
The maximum leverage offered by CBB is up to 1:500, which can be considered good for experienced traders, however, for beginners, it is dangerous because high leverages mostly involve a high risk of losing significant amounts of money. As for spreads, we were not able to discover the exact value – the only thing mentioned is that fixed and floating spreads start from 0 pips. That information does not give anything valuable to you as a customer and evokes no trust at all. We would be happy to see a separate section where more details would be provided.
As we already mentioned earlier in this CBB Review, you can have three different accounts including Start, Standard, and Trader Pro. According to the website, they all come with different benefits, for instance, the “Start” account offers almost unlimited access to financial markets with a small deposit, while Trader Pro lets you access interbank liquidity. Considering all the other facts, we highly doubt the accuracy of this information.
The minimum deposit account for the lowest type of account is set to $1000 which is a very high amount compared to the industry’s average which is somewhere between 50 and 100 dollars. It is also important to note that they call this “a small initial deposit” which is not true at all and you can definitely find other platforms where lower minimum deposit requirements are available.
CBB does not seem to have any bonuses or promotional offers available on their platform which is weird because the majority of fraudulent companies use fake bonus systems that are not on the side of users as it is a great way to trick new customers into your system. However, CBB Trading did not put much effort into it, like all the other things on its website.
All in all, it is not very easy to evaluate their trading features as the website is very poor in terms of providing you with valuable information. From what we could find, we can say that things offered by CBB do not correlate with the industry’s average and in most cases, are quite excessive.
CBB – Final Verdict
Considering all the things mentioned above, it is clear that CBB is a scam simply trying to steal your money. The first and most important indicator of this is the absence of a license and lying about having it. We highly recommend that you avoid using your platforms because there is a high chance that after making your deposit, you will not be able to see your money again ever again.