IBUTOKA

IBUTOKA is a forex and derivatives broker that presents itself as a professional provider of online trading services. According to the company description, IBUTOKA LIMITED is incorporated in the United Kingdom with a registration number of 13527087, and the brand operates under the domain ibutoka.id. The company was founded in February 2023, making it a relatively new entrant to the online trading space.

Despite its UK incorporation, IBUTOKA's official website uses an Indonesian domain, which may indicate a focus on the Southeast Asian market. The broker claims to offer more than 50 major currency pairs, precious metals, and international crude oil, along with other financial derivatives. It also states that it uses the TRADINGWEB platform, a web-based trading interface, to provide different account types to suit various investor needs.

Our records list IBUTOKA as holding four licences from regulators in the United Kingdom, the United Arab Emirates, South Africa, and Seychelles. Specifically, the FCA licence (number 801701) is for a Forex Execution License (STP), the DFSA licence (number F004885) is for a Derivatives Trading License (MM), the FSCA licence (number 46632) is for a Derivatives Trading License (EP), and the FSA licence (number SD015) is for a Derivatives Trading License (EP). However, the status of each licence is marked as '—' in our records, meaning we cannot confirm whether they are currently active or have been revoked.

We cross-checked these licence numbers against public registers where possible, but due to the low web confidence, we were unable to verify them independently. The lack of verifiable information online, combined with the fact that the company has zero employees on file, raises questions about the operational substance behind these regulatory claims. Traders should exercise caution and verify any licence directly with the relevant regulator before engaging with this broker.

IBUTOKA states that it uses the TRADINGWEB platform, which is described as a popular and universal web-based trading platform. The broker does not specify whether it offers a downloadable desktop client or mobile apps, but the web-based nature of TRADINGWEB suggests that traders can access their accounts through a browser. The platform is likely to provide standard charting tools, order execution, and risk management features typical of retail forex platforms.

In terms of instruments, the broker claims to offer more than 50 major currency pairs, which would cover the most liquid forex pairs such as EUR/USD, GBP/USD, and USD/JPY. Additionally, it offers precious metals like gold and silver, as well as international crude oil. These are common CFD instruments that allow traders to speculate on price movements without owning the underlying asset. The broker does not disclose whether it offers stocks, indices, or cryptocurrencies, so the product range appears focused on forex and commodities.

IBUTOKA mentions that it provides different account types to meet the trading needs of different investors. However, our records do not specify the exact number of account types, their minimum deposit requirements, or the leverage options available. The broker's description suggests that it aims to cater to a range of traders, from beginners to more experienced professionals, by offering varying account features.

Given the Indonesian domain and the company's incorporation in the UK, IBUTOKA likely targets retail traders in Southeast Asia, particularly Indonesia. The use of a web-based platform and the offering of standard forex instruments are typical of brokers that focus on retail clients. However, without more detailed information on account specifications, it is difficult to assess the suitability of these accounts for different trader profiles.

IBUTOKA LIMITED was incorporated in the UK in 2023, according to the company description. The registration number 13527087 is provided, but we have not been able to verify this independently due to the low web confidence. The company reports zero employees, which is unusual for a broker that claims to offer professional trading services. This could indicate that the company is a shell entity or that its operations are outsourced.

The official website is hosted on ibutoka.id, which is an Indonesian domain, but the company is registered in the US according to our records. This discrepancy between the country of registration (US) and the incorporation (UK) adds to the ambiguity. We found no verifiable social media presence or independent reviews, which makes it difficult to gauge the broker's reputation or operational track record.

Our FXCanary Scam Risk Score for IBUTOKA is 45 out of 100, which we classify as 'Guarded'. This score is based on two risk flags: withdrawal complaints in approximately 50% of recent reviews, and no verifiable website or social-media presence. The withdrawal complaints are a significant concern, as they suggest that clients may face difficulties in accessing their funds. The lack of a verifiable online presence also makes it challenging to confirm the broker's legitimacy.

Given the low web confidence and the limited independent information available, we advise traders to approach IBUTOKA with caution. It is essential to conduct thorough due diligence, including verifying the regulatory licences directly with the relevant authorities, before depositing any funds. The combination of a new company, zero employees, and unresolved regulatory status presents a higher-than-average risk profile.