publish2018-10-25 10:50 pm

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Fibo Group Review

What Is Fibo Group?

FIBO Group Holdings (Financial Intermarket Brokerage Online Group) is an online forex broker that was built up in 2011. The broker is notable among the online forex trading community similar to a principled and transparent broker. They hold fast entirely to every single administrative prerequisite and work to ensure the interests of their customers by obtaining operational licenses from a few wards. To guarantee that their customers are appropriately supported, they maintain satellites workplaces around the globe in a few noteworthy urban communities, for example, Astana, Kiev, Limassol, Moscow, Munich and Singapore. With the FIBO group, forex traders can be guaranteed that the services that they get are of the highest international standard.

FIBO Group Reliability – Is FIBO Group a Scam?

Operational since 2011, the FIBO Group name is a generally notable name among the online forex trading community. Over the previous years the Financial Intermarket Brokerage Online Group has earned itself a notoriety of being a broker that could be trusted and depended upon to give their customers services that meets the highest international standard. Likewise, the group is additionally known to be transparent with the manner in which they work.

In terms of customer insurance, the FIBO group has additionally possessed the capacity to guarantee their customers of the company’s responsibilities to protecting their interests. This is accomplished by the FIBO group through the obtaining of operating licenses from a few purviews, for example, the Financial Services Commission in the British Virgin Islands and Cyprus Securities Exchange Commission (CySEC). What’s more as a CySEC managed broker, traders at the FIBO group are secured under the Investors Compensation Scheme. This mean they are ensured up to a most extreme measure of 20,000 euros if ever the FIBO group can’t lawfully satisfy its contractual commitments.

Aside from providing their customers with legitimate protections, the FIBO group has likewise attempted endeavors to guarantee that their traders can get the highest quality customer support. The nature of the support is additionally upgraded by the FIBO group with setting up of workplaces in a few noteworthy urban communities around the globe. The way that the FIBO group has won various honors recognizing the group for their astounding customer service bear tribute to the way that this broker has satisfy its notoriety.

Trading Platforms

To guarantee that their customers trading needs are sufficiently met, FIBO group has given 3 main kinds of trading platforms for them. They include the well known MetaTrader 4, the more up to date MetaTrader 5 and the vigorous Ctrader.

MetaTrader 5

An updated adaptation of the generally used MT4, the MT5 has been being worked on for a long time before it was released onto the market. At present, it is just available as a PC Windows variant.

cTrader

The powerful cTrader trading platform gives FIBO a chance to group’s customers access to the forex market using NDD (Non Dealing Desk) Technology. It is allow for quick association with intermediary servers and support in excess of twelve different dialects. It is available as a downloadable application or as a WebTrader. What’s more, the cTrader can be integrated with the cAlgo algorithmic platform or cMirror platform to allow traders trade the markets using trading robots.

Account Types

There are 4 different sorts of trading accounts available at FIBO group. They consist of the following

MT4 NDD

$300 Minimum Deposit

NO Dealing Desk Business Model

5 decimal statements

1:50 Leverage proportion

32 currency sets

Commission is 0.003% from the measure of a transaction

MT4 NDD No Commission

$300 Minimum Deposit

1:50 use proportion

38 currency sets

5 decimal statements

No Commission

cTrader NDD

$300 minimum deposit

5 decimal statements

1:50 use proportion

41 currency sets

Commission is 0.003% from the measure of a transaction

MT5 NDD

$500 minimum deposit

5 decimal statements

1:50 use proportion

42 currency sets

Commission: till 100 million – $30 for a million USD, from 100 million to 250 million – $25 for a million USD, over 250 million – $20 for a million USD.

Leverage and Spreads

The commission charges and spreads which are applicable at FIBO group rely upon the sort of trading account which the trader is trading from. By and by the commission rate and spreads at FIBO group are exceptionally focused with the minimum spread starting at 0.01 pips.

Customer Support

The customer support at FIBO group is multi lingual. Depending on where the trader is residing, he can choose the workplace closest to him and phone the support team for support. On the other hand, traders can likewise contact the support team through email, live talk or by requesting a get back to.

Pros

Focused spreads

Cutting edge trading platform

Restricted Support available

Directed Broker

Respectable Broker since 2011

Wide determination of instruments

Cons

Absence of instructive materials

MT4 platform not available for Mac PCs

Site not user cordial

Bonuses and Promotions

At the season of writing, no bonuses and advancements are offered, as CySEC, the Cypriot controller, has prohibited new bonuses and advancements. To the extent we know, the FIBO Group has never offered bonuses or advancements, which we find refreshing as we feel this is regularly the sign of a more genuine broker.

Deposits/Withdrawals

Depositing funds into a FIBO Group account is a simple and secure process. Funding should be possible using an extensive variety of methods, including credit cards, Skrill, CashU, WebMoney, Neteller, and wire exchanges. Withdrawals can be made through Neteller, Skrill, Webmoney, wire exchanges.

The FIBO Group forces any minimums or most extreme prerequisites on deposits or withdrawals, but the channels themselves may do as such.

The Company

FIBO Group (Cyprus) is a NDD broker, offering trading in 42 currency sets Forex and CFDs on valuable metals on a determination of trading platforms. This is the trading name of FIBO Group Holdings Limited, registered as a Cyprus Investment Firm (CIF) and authorized and managed by the Cyprus Securities and Exchange Commission (CySEC).

The Cypriot broker is a piece of the International Financial Holding FIBO Group (Financial Intermarket Brokerage Online Group), one of the most seasoned players in marginal internet trading. The first company of the holding was established in 1998 and today it maintains workplaces in Vienna, Limassol, Singapore, Moscow, Munich, Kiev and Astana.

The group additionally works through FIBO Group Ltd., controlled by the Financial Services Commission (FSC) BVI.

Security of Funds

CySEC applies an arrangement of standards and necessities to permit holders, which are not as stringent as in UK for instance, yet they give a certain level of security.

The Commission requires Cyprus-based forex brokers to maintain a minimum of €1,000,000 as a proof of financial security. Moreover, CySEC applies a pay conspire as an extra certification to customers’ funds. As all CySEC-directed organizations, FIBO Group (Cyprus) is amembers of the Investor Compensation Fund, ready to give pay to a most extreme of 20,000 EUR per individual in case of broker insolvency.

Likewise, as CySEC is a piece of the European MiFID directions, the organizations controlled by Cypriot financial guard dog are allowed to work in all EU Member States.

Trading Conditions

Minimum Initial Deposit

The minimum initial deposit for FIBO Group (Cyprus) customers is $300, or, in other words initial sum, however other leading Cyprus-based brokerages, for example, XM and FXTM, require only $5 from traders to open an account.

Normal Spreads and Commissions

As a NDD broker, FIBO Group (Cyprus) offers tight factor spreads, starting from 0.8 pips on EUR/USD on without commission MT4 accounts, and statements at normal a spread of 0.3 and 0.2 pips on EUR/USD on MT5 and cTrader accounts individually, which both involve a commission of $6 per part round turn. Along these lines, normal trading costs with this broker add up to around 0.8 – 0.9 pips for the EUR/USD combine, or, in other words good offer, as most brokers offer spreads within the scope of 1.0 – 1.5 pips.

In correlation, Exness, additionally holding a CySEC permit, offers to ECN account holders normal spreads of 0.4 pips on EUR/USD, involving a commission amounting to $ 2.5 for every standard parcel.

Use

The most extreme use level given by this broker is high, reaching 1:400. Regardless, numerous different Cyprus-based brokers offer much higher use levels: FXTM gives use up to  1:1000 and Exness as of late propelled Unlimited Leverage Promotion. More forex brokers, offering influence 1:500 and higher can be seen here.

We encourage traders to be watchful while operating with higher use levels, for they may not just duplicate their benefits on a little deposit, but additionally result in misfortunes exceeding their initial investments.

fibo group features

Methods of Payment

Customers of FIBO Group (Cyprus) may browse the following approaches to fund their accounts: bank wire exchange, credit card, Skrill, OKPAY, WebMoney, Qiwi, Netteller and Western Union.

Conclusion

From our review, we find that FIBO group is deserving of the high acclaims that it had gotten from online forex trading community. With an operational history going back similar to 2 decades, FIBO group has indeed earned a notoriety of being one of the principled and transparent forex brokers around. For any traders who is looking for a trustworthy and solid broker, FIBO group merits considering.

 

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1 User Reviews

  1. This broker is a liar, i have an account with them but in their website they states that they have no re quotes and that are very clear and transparent, but in the practice is not, they have their mt4 platform but every time i tried to close a losing deal the system starts to re quote to the worst rate possible, making me lose all the money i have in the account and dont allow me to close asap the deal/trade, my suggestion is do not open any account with this broker, so far i not even know if is possible make a withdrawal profits.. be careful with this liar broker

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