Risk scorecard
Each area is scored 0 (clean) to 10 (worst). Higher means more risk.
Regulation
7/10 · HighThe deposit-taking Comoros entity's advertised MISA licence is recorded to a different firm (Eva Markets); the only genuine licence, FSC Mauritius, is held by a separate group entity, Finorka Ltd.
Identity & transparency
8/10 · CriticalAdvertises a licence and company number the register attributes to Eva Markets Ltd, conceals that lineage, and names no owners.
Withdrawals & conduct
4/10 · ModerateNo first-hand caibull.com complaints yet, but the same registration operated as Eva Markets, which has a documented blocked-withdrawal and deposit-pressure pattern.
Reputation
7/10 · HighThe predecessor Eva Markets is widely flagged; caibull.com itself has almost no independent footprint despite claiming 100,000 traders.
Website claims
8/10 · CriticalPresents another firm's MISA licence as its own, implies group-wide FSC protection that does not cover the deposit entity, and claims 100,000 traders with no supporting trace.
Operational history
7/10 · HighWebsite registered June 2024 (about two and a half years); reincarnation of an abandoned prior brand; company undatable, so the age is an upper bound.
Who they are
A quick desk file on the company behind the brand.
- Brand: Caibull
- Legal entity (your counterparty): CAIBULL Ltd, Union of Comoros, registration HY01123442
- Group entities: Finorka Ltd (Mauritius, holds an FSC investment-dealer licence) and Modisa Fintech Ltd (Cyprus, payments only)
- Registered: Bonovo Road, Fomboni, Island of Moheli, Union of Comoros
- Website: caibull.com, registered June 2024
- Headline licence: MISA (Comoros) T2023415, which the register records under Eva Markets Ltd, not Caibull
- Offers: CFDs on forex, metals, commodities, indices, shares and crypto via MT5; leverage up to 1:2000; minimum deposit from 10 USD
- Not accepted: United States, Sudan, Syria, Iran, North Korea, Myanmar, United Arab Emirates
- Age claim: advertises 'over 100,000 traders worldwide'; no explicit founding year stated
Regulation
Who really oversees this broker, and what each licence is worth to you.
Proof of regulation on an official register: Yes
We confirmed this broker on a genuine regulator’s register.
Licences the broker publishes
Mwali International Services Authority (MISA), Comoros
Financial Services Commission (Mauritius)
Registrar of Companies (Cyprus)
Why we reached this verdict
How the evidence adds up.
Our verdict rests on the regulators' own records, read against what Caibull publishes about itself.
- The advertised Comoros licence is not Caibull's. The MISA register entry for licence T2023415 and company number HY01123442 names Eva Markets Ltd and the website evamarkets.com. Caibull publishes that exact licence and registration number as its own, under the name CAIBULL Ltd. A company registration number identifies a single company, so this is the same registration presented under a new brand.
- The predecessor has a scam record. Eva Markets is documented across independent broker-review records for blocked withdrawals, manipulated trades and pressure to deposit more, and its website no longer loads. A change of name does not clear that history.
- The genuine licence sits on the wrong entity. Finorka Ltd holds a real Mauritius FSC investment-dealer licence (since April 2022), which we confirmed on the FSC register. But Caibull's own terms name CAIBULL Ltd (Comoros, MISA) as the company that holds client funds, so the Mauritius licence does not cover the entity that takes your money.
- MISA is not real protection. The Mwali International Services Authority is an autonomous-island registrar, not a functioning financial supervisor, and its authorisations carry little weight even when genuine. The recorded licence term ran only to November 2025.
- Young operation, outsized claims. caibull.com was registered in June 2024, about two and a half years ago, yet the site claims over 100,000 traders worldwide with almost no independent trace of clients. Because the Comoros company could not be dated in a public registry, this age is an upper bound based on the website.
- On balance we assess the risk of fraud as high, given the reused identity of a withdrawal-blocking predecessor, although we did not find first-hand withdrawal complaints against caibull.com itself.
Evidence ledger
Every finding, with its source and how strongly it points.
E1The Mwali (MISA) register verification page for the licence Caibull advertises shows licence T2023415 and company number HY01123442 registered to Eva Markets Ltd, website evamarkets.com, issued 27 November 2023, not to CaiBull Ltd or caibull.com.
E2Caibull's own regulation page publishes licence T2023415 and registration HY01123442 as belonging to CAIBULL Ltd, the same numbers the register records under Eva Markets Ltd.
StrongCaibull regulation pageE3Eva Markets, the register-named holder of licence T2023415, is a Comoros broker documented for blocked withdrawals, deposit pressure and fraud concerns, and its website no longer loads.
E4The FSC Mauritius public register confirms Finorka Ltd holds a genuine SEC-2.1B Investment Dealer (Full Service Dealer excluding Underwriting) licence dated 12 April 2022, managed by AllServ Management Ltd.
E5The genuine FSC Mauritius licence is held by Finorka Ltd, while Caibull's own documents name CAIBULL Ltd (Comoros, MISA) as the counterparty that holds client funds, so the licence does not cover the deposit-taking entity.
E6The domain caibull.com was registered on 6 June 2024 (Amazon Registrar, Cloudflare nameservers), which is inconsistent with the site's claim of over 100,000 traders worldwide and with any long track record.
ModerateRDAP / Verisign registryE7A warning-list sweep (IOSCO, FCA, CONSOB, ASIC) found no alert naming caibull.com as of the time of writing. Absence from warning lists is not clearance, since lists lag new brands.
WeakRegulator warning-list sweepE8Caibull advertises leverage up to 1:2000, far beyond any regulated jurisdiction, alongside a 10 USD minimum deposit, indicating aggressive retail solicitation.
ModerateCaibull about pageE9Modisa Fintech Ltd (HE 441220) is a genuinely registered Cyprus company, and Caibull describes it accurately as a payments entity rather than a regulator, which is an honest disclosure.
The other side
The strongest case in this broker’s favour.
In fairness, several points cut the other way, and we weighed them.
- One group entity, Finorka Ltd, does hold a real and current Mauritius FSC investment-dealer licence, which we verified on the regulator's own register. That is more than many offshore brands can show.
- The Cyprus entity, Modisa Fintech Ltd, is a genuinely registered company, and Caibull describes it accurately as a payments entity rather than a regulator, which is honest.
- We found no regulator warning naming caibull.com, and no first-hand withdrawal complaint about caibull.com specifically. Much of the adverse record belongs to the predecessor brand.
- It is possible this is an ordinary rebrand rather than an attempt to shed a bad name. If so, the operators could clear it up quickly by updating the MISA record to their current name and website, and by placing client funds with the licensed Mauritius entity.
What would change this
What we would need to see to revise the verdict.
Concrete things that would move this verdict up or down:
- The MISA register updating licence T2023415 to show CAIBULL Ltd and caibull.com, instead of Eva Markets Ltd and evamarkets.com, would remove the central identity problem and could lift the verdict.
- Caibull moving the client-contracting role to the licensed Mauritius entity (Finorka Ltd), so the company that holds funds is the one that is actually regulated, would materially improve it.
- A regulator warning naming caibull.com, or a credible pattern of blocked-withdrawal complaints against caibull.com itself, would push this toward a confirmed scam.
- Evidence that the Caibull operators are entirely separate people and infrastructure from Eva Markets, with a clean break, would reduce the weight we place on the predecessor's record.
Check it yourself
Official registers and warning lists. Verify every claim first-hand.
MISA licence check (T2023415)
The Comoros register entry for the licence Caibull advertises; it names Eva Markets Ltd, not Caibull.
MISA authorised brokerage list
Full list; licence T2023415 appears under Eva Markets Ltd.
FSC Mauritius public register
Search 'Finorka Ltd' to see the genuine investment-dealer licence held by that group entity.
Caibull regulation page
The broker's own licence claims; note it publishes no register verification links.
Trustpilot (Caibull)
Independent review page for the domain.
Frequently asked questions
Quick answers about this broker’s safety.
Is Caibull a scam?
We rate Caibull a likely scam. The Comoros licence it advertises is registered to a different, now-defunct broker called Eva Markets, and Caibull runs on that same registration under a new name and a website less than three years old. Treat it as high risk and do not deposit.
Is Caibull a fraud?
No court or regulator has ruled that Caibull commits fraud, so we cannot state that as fact. But we assess the risk of fraud as high: the licence it advertises belongs on the register to Eva Markets, an operation reported for blocked withdrawals, and Caibull is the same registration rebranded.
Is Caibull regulated?
Not in any meaningful way. The company that would hold your money, CAIBULL Ltd in the Comoros, relies on a MISA registration that the register actually records under Eva Markets Ltd. MISA is not a genuine financial supervisor. A real Mauritius FSC licence exists, but it is held by a different group company, Finorka Ltd.
Can I withdraw my money from Caibull?
We cannot assure you that you can. The same registration operated as Eva Markets, which has many reports of refused or stalled withdrawals and of staff pressing clients to deposit more. If you have funds there, request a full withdrawal now and keep records.
Is my money safe with Caibull?
We would not consider it safe. Your counterparty is a Comoros company under a near-worthless registration recorded to another firm. There is no compensation scheme, and the genuine Mauritius licence in the group does not cover the entity that takes your deposit.
Who owns Caibull?
The site says only that it was 'founded by traders' and names no individuals. The operating entity is CAIBULL Ltd (Comoros), with group entities Finorka Ltd (Mauritius) and Modisa Fintech Ltd (Cyprus). The MISA registration it uses previously carried the Eva Markets brand.
Is Caibull the same as Eva Markets?
The evidence points that way. The MISA licence number T2023415 and company number HY01123442 that Caibull publishes as its own are recorded on the Comoros register under Eva Markets Ltd (evamarkets.com). A registration number identifies one company, so this is the same registration operating under a new brand.
How old is Caibull?
The website caibull.com was registered in June 2024, about two and a half years ago. Its claim of over 100,000 traders does not fit an operation that young with almost no independent review footprint. The underlying company could not be dated on a public registry, so the age is an upper bound.
What is a MISA (Mwali / Comoros) licence worth?
Very little. MISA is an autonomous-island registrar in the Comoros, not a functioning market supervisor, and its authorisations have been publicly disavowed. A MISA badge shows an intent to look regulated at low cost, not real oversight or client-money protection.
Is the Mauritius FSC licence real?
Yes, but it is not Caibull's. Finorka Ltd holds a genuine FSC Mauritius Investment Dealer (Full Service) licence dated April 2022, which we confirmed on the FSC register. Caibull's own terms say the Comoros company CAIBULL Ltd holds client funds, so that Mauritius licence does not protect your deposit.
Is Caibull a clone of a well-known broker?
It is not impersonating a famous regulated firm. It is better described as a reincarnation: the same Comoros registration that was Eva Markets, an offshore broker with a poor record, now presented as Caibull.
What should I do if I was scammed by Caibull?
Stop depositing, especially any 'fee', 'tax' or 'unlock' payment demanded to release funds, as that is a classic advance-fee trap. Gather dated screenshots and transaction records, ask your bank or card issuer about a chargeback, and report the case to your local financial regulator.
Scan history
How this broker’s safety assessment has changed across scans.
What changed since September 18, 2026
- September 19, 2026CurrentLikely scam75% risk
- September 18, 2026High risk (unverified)65% risk
Past scans are archived snapshots kept for transparency and are not indexed by search engines.
What we recommend
The practical takeaway from everything above.
Our advice for anyone considering Caibull:
- Do not deposit until the licence records match the company and the website you are actually dealing with.
- Treat the MISA badge as marketing, not protection: your counterparty would be a Comoros company, and that licence is recorded on the register to a different, now-defunct broker.
- If you already hold funds there, request a full withdrawal now, keep dated records and screenshots, and do not send any further 'fee', 'tax' or 'verification' payment demanded before a withdrawal is released.
- If a withdrawal is refused, complain in writing and report it to your local financial regulator and to your card issuer or bank.
This is an independent assessment of risk, not a legal ruling. Scores and verdicts follow the Wikilix broker-safety methodology and can change as new evidence appears. Review scores are treated with caution when a broker’s reviews look manipulated. Last reviewed September 19, 2026. If any detail here is out of date or incorrect, or you represent this broker, please contact us.
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