Fibonetix

Do not believe the bonus offer from Fibonetix. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited after hearing about them at a conference and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.

Fibonetix had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.

I lost a significant amount because Fibonetix did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.

I wanted to transfer my portfolio from another broker to Fibonetix. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.

Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. Fibonetix said it was market conditions. Same news, another broker filled me properly. They are not honest.

Fibonetix offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.