Basic Information
Pros and Cons
Pros
- Regulated by CySEC
- Market Maker license ensures compliance
- Offers various trading services
- Established operational experience
- Client funds protected in separate accounts
Cons
- Mixed feedback on customer service
- Concerns about withdrawal delays
- Transparency issues reported
Is SIB Safe and Legit?
SIB (Cyprus) Ltd is a regulated broker established in Cyprus in 2006, with approximately 15-20 years of operational experience. It offers a range of trading services including order execution and investment advice, with key trading conditions like a Market Maker license, access to various tradable instruments, and utilization of popular platforms such as MT4 and MT5.
SIB is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 066/06, ensuring compliance with local financial regulations. Overall, it is considered a legal and safe broker for traders in the region.
Market sentiment regarding SIB is mixed, with users highlighting issues in customer service responsiveness and ease of withdrawals. While some users appreciate the range of services offered, there have been complaints about transparency and delays in communication, suggesting room for improvement in customer support and user experience.
Is SIB a Regulated Broker?
What Are the Regulatory Licenses Held by SIB?
SIB (Cyprus) Ltd is a regulated broker established in Cyprus, holding a Market Maker license issued by the Cyprus Securities and Exchange Commission (CySEC). This regulation ensures that SIB operates in compliance with local financial laws, providing a level of security for traders. With its license number 066/06, SIB is recognized as a legitimate entity in the financial market, making it a safe choice for traders in the region.
Client Fund Segregation: Your Ultimate Safeguard
Capital Protection Measures
SIB (Cyprus) Ltd prioritizes the protection of client funds by holding them in independently regulated bank accounts, separate from the broker’s own assets. This ensures compliance with the regulatory requirements set by the Cyprus Securities and Exchange Commission (CySEC), providing additional security for traders.
SIB Leverage
SIB offers leverage in accordance with local regulatory limits, distinguishing between retail and professional account configurations. This ensures that traders can operate within the legal framework established by CySEC, aligning with the regulatory requirements for leverage in the jurisdictions where SIB is licensed.
SIB Withdrawal Review
How to Contact SIB?
SIB (Cyprus) Ltd has received mixed feedback regarding its withdrawal processes, with a notable number of users expressing concerns about delays and customer service responsiveness. Common complaints include slow withdrawal times and challenges in communication, indicating a need for improvement in these areas. Credible sources of these complaints primarily stem from user reviews and financial forums. While there are no significant public complaints or regulatory penalties reported, the recurring nature of withdrawal-related issues suggests an area where SIB may need to enhance its operational practices to ensure a better user experience. Overall, the sentiment remains cautious, aligning with the broker’s classification as safe yet having room for improvement.
Frequently Asked Questions
A1: Yes, SIB (Cyprus) Ltd is a legitimate broker regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 066/06. This regulation ensures SIB operates in compliance with local financial laws, making it a safe choice for traders in the region.
A2: SIB prioritizes the protection of client funds by holding them in independently regulated bank accounts that are separate from the broker’s own assets. This compliance with CySEC regulatory requirements provides additional security for traders.
A3: Users have reported mixed feedback regarding SIB’s withdrawal processes, with common complaints about delays and customer service responsiveness. While there are no significant public complaints or regulatory penalties, the recurring nature of these issues indicates a need for operational improvements.
A4: You can contact SIB for support via phone at +357 22 41 9000 or through email at info@sib.com.cy. The broker aims to assist clients with any inquiries they may have.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.