Reason to avoid: No License. Negative Reputation
Listed Date: October 18, 2018
Top 3 Regulated Forex Brokers
Beware Mib700 is a Non-Regulated Broker. It is NOT SAFE to trade.
- Company name:
Blonde Bear OU. Mib700. TradeX1. TradesPrime.
- Registration Address/ License:
Tallinn, Estonia. No License, No Regulation.
Mib700 is an Online trading and financial service provider that claims its professionalism, remarkable support team and a range of instruments to trade on the newest technologies that include market-leading platforms. The broker states its expertise in providing financial services with a goal to keep long-term success with advanced client protection and safety measures.
However, all abovestated is just sweet words that, unfortunately, have nothing to do with how exactly the things are going with the broker. In fact, the Mib700 brand is just another name of the numerous branches and trade names used by the firm Blonde Bear OU, located in Estonia and that proved its fraud and scam operations to many worldwide traders and the history of its warnings. All companies that the group uses were blacklisted by various jurisdictions or authorities, scam reviews appear all over the internet, but the company still delivers its tricky business under various names.
The company, obviously do not hold any license, while being located in EU countries should obtain an authorization for its service delivery. Meanwhile, the firm didn’t receive any and just continuously searching new clients, that are facing afterward a failure to withdraw any funds or get their profits.
Actually, this is a typical scam practice, while the broker does not hold any authorization and acts in their own behalf to its own good and purpose, while numerous traders remain with looses. In conclusion, it is definitely not safe to trade with Mib700 and with all its affiliated group of brands. Exactly for that reason, we always advise to stay far away from unlicensed companies and to check carefully the company history, reputation and applicable authorization before any investment is done.