The following is from a comment by one reader on another page on this site, but it tells all about his experience with FB Trading.
They have been on our radar for some time but regrettably we haven’t done a write up.
They had been ringing around trying to sell their automated trading platform.
As always with these things, they have a high buy in value, no verified live trading account record. They only offer a brief trial period..days, rather than months.
Sounds like they mislead and also keep milking for more money by the following commentary:
Hi regarding FB Trading.
Anyone else had bad experience with the company?
I have spoken to the following employees, Mark (who also Known as Kal) Isaac, Tracey, Joanna, (Sean & Denis managers)
Nov / Dec 2018 I was another person who was took their trial offer of $1000 and the broker was Berndale capital. I have a claim with ASIC for my funds and when I spoke to Mark he said I should get my money back from ASIC but still waiting. I have a claim with ASIC who is investigating Berndale.
Then I to was mislead & roped into buying a auto bot system 15 pairs for $12100. Normally $28600. In Jan 2019 then 2 weeks Later they offered the other 64 pairs plus 5 Crypto currency For $10000.
Please keep in mind I was new to forex. They set up the system Vortex FX bot as they are the experts and followed there advise. They set up with not stop losses in place. They said (Mark) that’s how the system works the best this way and the market will correct it self.
I was told that I didn’t have enough funds to open all the pairs only
10 pairs were switch on. Hence I brought a product that I can only a
small % of. Once it started trading, The system In most of the cases,
will have up 5 of the same pair opened in the same position and if it
went the direct of the trade in the positive way it would take profit of
a small amount. However with no stop losses in place it would have a
greater loss amount. I ask them to stop the trading and let the 50+
opened negative position to closes off. I had Isaac give me their Alpha
program (normally $100k to buy) for free. Because it had stop losses in
the system. I found out later the vortex system could have stop losses
in place. He switch it on and lost more of my funds. I told him it
doesn’t work. He opened a demo acc $50k to prove to me the Alpha system
works. But the demo account is at $41k loss plus floating at -13000k
equity around the $31k Earlier this year they told me they didn’t have a
demo account To show me only the trial offer. I told Isaac to Stop
trading again and now I’m waiting for 8 positions to trade out. They
have been opened from early 2019.
I was sold a total system that I could not use all the pairs because of my Trading account Was to small. No one told me until after the fact. Once they got there funds. Mark guaranteed me over the phone I would pay off the system in 12 months. It was an average return b/w 7-10%. Per month & A min of 1-3% per month. Listening to the video and looking at their (I believe Now a fake) trading history Data (which has no Swaps or spreads showing looking back at it now once learning and educating myself, should show the swaps and spreads.
Please share any thing regarding your experience with Fb trading Pty Ltd / FB markets Pty Ltd or Fibonacci Trading Pty Ltd.
Update, May 2020: FBM Expert
It appears they may be trading with the name: FBM Expert , still under FB Markets Pty Ltd.