FIBO Group is a CFD and forex brokerage situated in Cyprus. The intermediary offers trading on MT4, MT5, and cTrader, with a range of live, PAMM, and demo account alternatives. In this audit, we’ll see guidelines, influence and estimating, to assist you with choosing if FIBO Group could be a decent decision for you.
FIBO Group Details
Financial Intermarket Brokerage Group (FIBO Group Ltd) was established in 1998. The association is licensed and managed in the EU by the Cyprus Securities and Exchange Commission (CySEC). The global site is additionally approved by the Financial Services Commission (FSC) in the British Virgin Islands (BVI).
The MT4 trading platform is a top decision among traders of any experience level. The product flaunts an amazing interface that is completely customizable and upholds multiple trading styles.
Traders can investigate the markets on 9 distinctive time intervals, utilizing 30 pre-included indicators and a range of graphical articles. There’s a trading history feed just as real-time quotes in Market Watch. Customers can likewise use master consultants (robots) for automated trading systems.
The MT4 platform is accessible for download onto Windows laptops or as an online variant for macOS and Linux clients.
MT5 is the successor to the MT4 genuine worker and accompanies a few contrasts, including an economic calendar and Profundity of Market liquidity. There’s additionally a more extensive scope of specialized indicators and drawing instruments, in addition to 21-time intervals and progressed order and execution types.
MT5 is additionally accessible through a desktop application or by means of the web trader, yet note that MT5 is just accessible for customers on the worldwide website.
The cTrader platform is appropriate for proficient traders just as newbies and is accessible both as downloadable or web adaptations.
The platform offers one-click trading, a market sentiment indicator, economic news, Profundity of Market view, and trading robots utilizing the cAlgo integrated tool. There are additionally more than 50 indicators and 26 chart time periods to look over, just as copy-trading usefulness.
FIBO Group offers 38 currency pairs just as spot metals on the EU site. Global customers can exchange a more extensive range of forex, just as more than 20 CFDs on major indices and commodities, like the FTSE100 and crude oil. There are 9 CFDs on cryptocurrencies, plus a range of shares.
FIBO Group offers fixed and floating spreads beginning from 0.3 pips for EUR/USD and 1 point for major indices, including NASDAQ. The gold spread is around 0.5 USD, and crude oil is 8 pennies.
Commissions may likewise apply contingent upon the account type—these beginning from 0.003% from the measure of the exchange. There’s likewise a $5 dormant account fee which applies following 91 days of account inertia. Likewise, swap charges apply for the time being positions.
For global customers, the greatest leverage accessible is 1:1000 in the MT4 Penny account, yet for most other account types, the greatest leverage is 1:400. For EU customers, leverage is accessible up to 1:50 for standard traders and up to 1:400 for experts.
The President has guaranteed itemized leverage prerequisites are pitched on the broker’s site.
FIBO Group offers mobile app versions of the MT4 platform for all customers and the MT5 and cTrader platforms for customers on the global site.
MetaTrader mobile users enjoy quick access to online quotes, all available trade orders, and trading directly from the chart. You can likewise analyze the financial markets utilizing the interactive pinch-and-zoom charts, just as manage trades in offline mode for convenience.
The cTrader mobile application offers advanced mobile trading features, including QuickTrade mode, quick connections to news sources, price alerts, and warnings, just as over 50 indicators on 26-time frames.
Deposits and Withdrawals
FIBO Group offers a variety of funding methods, including bank wire, credit cards, and online payment systems like Skrill and Neteller. Note that these will shift depending on your jurisdiction.
There might be some deposit commissions. For example, bank transfers cost between $35-50. However, most other deposit methods are commission-free. Withdrawal commissions start from 0.5%.
Processing times likewise shift, from inside a few minutes for some e-payment systems, up to a few days for bank transfers and some credit card payment systems.
FIBO Group offers an MT4 demo server to explore the trading platforms and practice abilities. Demo accounts are typically available for a certain time frame and don’t require you to deposit or trade real money.
FIBO Group Bonuses
There are currently no promotions available on the global site, yet traders can check the website or sign up to the newsletter to have updates on bonus deals. The EU site does not offer any promotions due to regulatory restrictions.
FIBO Group Holdings Ltd is authorized and managed by the Cyprus Securities and Exchange Commission (CySEC), under license number 118/10. FIBO Group is a member of the Investor Compensation Fund, which can cover up to €20,000 per client.
FIBO Group Ltd is likewise regulated by the Financial Services Commission (FSC) in the British Virgin Islands, under license number SIBA/L/13/1063.
Additional Features Review
FIBO Group offers some additional tools, including market investigation and forecasts, just as an economic calendar. Beginners will likewise track down some educational content remembering YouTube videos for forex basics. This isn’t the widest variety of features compared to other brokers, so traders on the EU site specifically may need to look elsewhere.
EU customers have a choice of two account types: MT4 NDD and MT4 NDD No Commission. Other than the commission contrasts, the two accounts are portrayed mostly by the tighter spreads in the commission-based account. Note that the base deposits are $300 for the commission-based account and €100 for the no-commission account.
Global customers can likewise browse the MT5 or cTrader NDD accounts, just as the MT4 Penny and MT4 Fixed accounts. The base deposits are $50 for all accounts, with the exception of the MT4 Penny, which requires no base deposit, and the MT5 NDD account, which requires a $1,000 deposit. A few accounts likewise offer extra advantages like PAMM arrangements.
FIBO Group gets a positive rating in a few regions:
- MetaTrader and cTrader platforms
- Regulated in two jurisdictions
- Straightforward enlistment
- Great revenue withdrawal
- Commission-free trading
- Tight ECN spreads
There might be a few drawbacks of trading with this broker:
- Limited educational resources
- Limited instruments and platforms for EU customers
Trading meetings for forex and cryptocurrencies are from 00:05 to 23:55 (EET) Monday to Friday. Spot metals run from 01:05 to 23:55 (EET) Monday to Friday. A full rundown of trading meetings for other individual instruments can be found in the agreement particulars or inside the trading platforms.
You can reach out to the fundamental administrative center in Limassol through telephone, email, or live chat. On the other hand, you can also attempt one of the global agent workplaces in Kazakhstan, Germany, or China.
- Cyprus email – firstname.lastname@example.org
- Cyprus Telephone – +357 25 030 930
- Cyprus address – FIBO Group Holdings Limited, 29 Agias Zonis, first Floor, 3027, Limassol, Cyprus.
FIBO Group’s trading platforms are encrypted with SSL innovation and utilize two-factor authentication protocols upon login. Certain solicitations through the individuals’ region are additionally gotten with a one-time verification password by means of SMS.
FIBO Group Verdict
FIBO Group gives good forex and CFD trading services, including the MT4 and MT5 platforms, in addition to a range of deposit strategies and account types. Traders ought to likewise have a sense of security at this setup organization, with guidelines in two jurisdictions. A notable disadvantage, nonetheless, is the absence of educational tools, which might put off any traders who are searching for an all the more well-rounded assistance.
FIBO Group acknowledges traders from Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and most different countries.
Traders cannot utilize FIBO Group from the United States, Canada, Australia, Korea, Iran, Iraq, Israel, Japan, and Belgium.
Alternatives to FIBO Group
In case you are searching for alternatives to FIBO Group, we have ordered a rundown of the main 5 brokers that are like FIBO Group underneath. This rundown of brokers like FIBO Group is arranged by similitude and just incorporates organizations that acknowledge traders from your area.
RoboForex – RoboForex is a multi-asset online broker contributing amazing trading helpers.
FP Markets – FP Markets is a multi-asset broker contributing a choice of trading platforms.
OctaFX – OctaFX offers multi-asset trading on a range of platforms and versatile arrangements.
FXChoice – FXChoice is a seaward retail broker contributing MT4 and MT5 platform downloads.
FXOpen – FXOpen is a profoundly regulated FX and CFD broker contributing to multiple trading platforms.
How would I open an account with FIBO Group?
You should round out the online enlistment structure prior to presenting your ID documentation to be confirmed. When the check is finished, you can sign in to your account and begin trading straight away.
Does the FIBO Group offer a no deposit reward?
The FIBO Group right now doesn’t offer any deposit reward deal or any promotions as of now. You can check the site or sign up for the newsletter for any future deals on the global site.
Is FIBO Group regulated?
FIBO Group holds guidelines and licenses with the Cyprus Securities and Exchange Commission (CySEC) just as the Financial Services Commission in the British Virgin Islands (FSC BVI).
Is FIBO Group safe?
FIBO Group utilizes well-known and trustworthy trading platforms (MetaTrader and cTrader), which ensure information exchange utilizing SSL-encryption. One-time passwords (OTP) are likewise utilized inside the individuals’ region.
What countries are accepted at FIBO Group?
FIBO Group acknowledges customers from multiple countries, including the UK, Ukraine, Russia, Spain, Vietnam, Turkey, Singapore, and Indonesia. Note that specific countries are limited from the two destinations, including Australia, the United States, and Iran.