Fiboda - Copy trading Platform
Latest release: 1.0.5 ( 8th July 2021 ) 🔍 Last analysed 3rd November 2021 . Can't send or receive bitcoinsDo your own research!
Try out searching for "lost bitcoins", "stole my money" or "scammers" together with the wallet's name, even if you think the wallet is generally trustworthy. For all the bigger wallets you will find accusations. Make sure you understand why they were made and if you are comfortable with the provider's reaction.
If you find something we should include, you can create an issue or edit this analysis yourself and create a merge request for your changes.
The Analysis ¶
App Description
FIBODA is a leading multi-broker, Social, and Copy-trading Platform. Invest by copy trading with Top and curated Traders in Forex, Indices, Commodities, Stock & Cryptos CFDs!
FIBODA supports the buying and selling of CFDs, which means that users don’t actually own the assets.
The Site
From the Terms of Service:
Fiboda offers solely the technical means that enable you to adopt trading strategies of other users of the Platform, based on the assumption that you have consciously chosen to conduct CFD and/or FX transactions with a Broker of your choice.
There’s little to read in this site concerning cryptocurrencies.
Verdict
Due to this platform being created for traders who conduct CFD transactions, users do not own the digital assets. This app does not allow users to send or receive bitcoins.
(dg)
Verdict Explained
The product can't send or receive BTC.
As part of our Methodology, we ask:
Can it send and receive bitcoins?
If the answer is "no", we mark it as "Can't send or receive bitcoins".If it is for holding BTC but you can’t actually send or receive them with this product then it doesn’t function like a wallet for BTC but you might still be using it to hold your bitcoins with the intention to convert back to fiat when you “cash out”.
All products in this category are custodial and thus funds are at the mercy of the provider.
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