IBUTOKA

IBUTOKA is a forex and derivatives broker that presents itself under the legal name IBUTOKA, with an official website at ibutoka.id. According to our records, the company was founded on 3 February 2023 and is registered in the United States, although its own description indicates it is incorporated in the UK with a registration number of 13527087. This discrepancy between the country of registration on file and the company's own statement is something traders should note.

Our records show that IBUTOKA lists four regulators on file: the UK Financial Conduct Authority (FCA), the Dubai Financial Services Authority (DFSA), the South African Financial Sector Conduct Authority (FSCA), and the Seychelles Financial Services Authority (FSA). However, the status of each licence is marked as '—', meaning we have no confirmation of whether these licences are currently active or in good standing. The company description also notes that IBUTOKA is a professional broker offering more than 50 major currency pairs, precious metals, international crude oil, and other financial derivatives.

IBUTOKA's regulatory profile is a mixed picture. On paper, it holds four licences across different jurisdictions: an FCA Forex Execution License (STP) with licence number 801701 in the United Kingdom, a DFSA Derivatives Trading License (MM) with licence number F004885 in the United Arab Emirates, an FSCA Derivatives Trading License (EP) with licence number 46632 in South Africa, and an FSA Derivatives Trading License (EP) with licence number SD015 in Seychelles.

However, the status of each licence is not confirmed in our records, and the company's registration country is listed as the United States, which is unusual for a broker claiming UK incorporation. We cross-checked the licences against the public registers where possible, but the lack of confirmed status means traders should treat these as unverified. The risk flag in our assessment notes that there is no verifiable website or social-media presence, which further complicates independent verification.

According to the company description, IBUTOKA uses the TRADINGWEB trading platform, which it describes as 'the most popular and universal' in the world. The broker states it provides different account types to meet the trading needs of different investors, though specific account tiers, spreads, and commissions are not disclosed in our records.

The instruments offered include more than 50 major currency pairs, precious metals, and international crude oil, as well as other financial derivatives. This suggests a focus on retail forex and CFD trading, which aligns with the broker's self-description as a professional foreign exchange broker.

IBUTOKA was founded in early 2023, making it a relatively new entrant in the forex brokerage space. Our records list the number of employees as 0, which may indicate a very small operation or that the company has not yet reported staffing details. The company description mentions that IBUTOKA is incorporated in the UK with registration number 13527087, but this is not confirmed in our official records.

We found no clone or impersonator sites associated with IBUTOKA, which is a positive sign, but the lack of a verifiable web presence and the discrepancy in registration details are concerns. The FXCanary Scam Risk Score for IBUTOKA is 44 out of 100, which we classify as 'Guarded', meaning traders should exercise caution and conduct further due diligence before engaging with this broker.

Based on the available information, IBUTOKA appears to target retail forex and CFD traders, offering a range of instruments and a web-based trading platform. The broker's claim of providing different account types suggests it aims to cater to both novice and experienced traders, though specific details are not available.

However, given the low information environment and the unverified regulatory status, IBUTOKA is likely best suited for traders who are willing to accept a higher level of risk and who have the ability to conduct their own thorough research. For most retail traders, the lack of transparent information and the guarded risk score would be a significant deterrent.

In FXCanary's assessment, IBUTOKA presents a guarded risk profile. The broker lists multiple regulators, but the status of these licences is not confirmed, and the company's registration details are inconsistent. The absence of a verifiable website or social-media presence is a red flag, as legitimate brokers typically maintain a clear online footprint.

We were unable to find independent user reviews or third-party verification of IBUTOKA's operations. This lack of transparency, combined with the newness of the company and the zero employee count, suggests that traders should approach IBUTOKA with caution. We recommend that any trader considering this broker verify the regulatory status directly with the relevant authorities and start with a minimal deposit if they choose to proceed.