Fibo Group Review 2024

Highlights of Fibo Group

Spread fromEURUSD0pips

Trading Assets

Forex Cryptocurrency Precious Metals Energy Carriers Soft Commodities Indices

Trading Platforms

MetaTrader 4 cTrader MetaTrader 5

4.1/5

More DetailsRegisterTrading CFDs carries high risks. You may lose all invested funds

About Fibo Group

Founded in 1998

Countries of registration:

Regulators:

BVIFSC

4.1/5

More Details

RegisterTrading CFDs carries high risks. You may lose all invested funds

Countries of registration:

Regulators:

BVIFSC

Trading Assets

ForexCryptocurrencyPrecious MetalsEnergy CarriersSoft CommoditiesIndices

Trading Platforms

MetaTrader 4cTraderMetaTrader 5

Deposit/withdrawal:

compare Fibo Group trading accounts

FIBO Group is an international broker regulated by the FSC of the British Virgin Islands.

The broker is suitable for various types of traders, including beginners and experienced ones. A wide range of accounts and trading platforms allows every trader to find a suitable solution. Educational materials and analytics help develop skills and make informed trading decisions.

FIBO Group stands out with competitive trading conditions, a broad set of instruments, and quality support. However, commissions and the absence of certain assets limit its potential.

Pros and Cons of Fibo Group

Fibo Group reviews

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FIBO Group Broker Overview

The international financial holding FIBO Group (Financial Intermarket Brokerage Online Group) currently includes two companies that provide access to trading on the forex market:

• FIBO Group, Ltd. is an international company registered in the British Virgin Islands.

• FIBO Group Holdings Ltd. is a European company registered in Cyprus. It offers services exclusively for professional traders.

The first company of the FIBO Group holding was established in 1998 and registered in the British Virgin Islands. Currently, the company has representatives in Kazakhstan, China, Cyprus, and Germany.

The official website is available in 16 languages, including European and Asian dialects.

Residents of Australia, Austria, Belgium, Great Britain, Iraq, North Korea, and the USA are not eligible to use the company's services.

FIBO Group Review Summary

It is important to note that our evaluation of the FIBO Group broker is based on our methodology.

We invite you to continue reading the review to understand the FIBO Group broker better. Learn more about their services, trading conditions, educational resources, etc.

Legal Entity	Regulator
FIBO Group, Ltd. FIBO Group, Ltd.	BVIFSC BVIFSC

FIBO Group is regulated by the BVIFSC, an international organization that oversees broker activities. This means that FIBO Group must adhere to specific standards and undergo rigorous scrutiny to maintain its license.

However, it's important to note that while the BVIFSC is a reliable regulator, it is located in the British Virgin Islands, considered an offshore zone. This may affect investor confidence, as financial regulation in offshore zones can differ from more stringent international standards.

The registration and verification process is quick and secure, and the functionality of the FIBO Group personal account ensures convenience for traders.

Registration

To register with FIBO Group, complete a simple form by entering your email address.

You can log into your Client Area from the website's main page immediately after registration.

The Client Area password is sent to the specified email address.

Verification

For full access to all sections of the personal account, you will need to:

1. confirm your email and phone number;
2. fill out a form with personal information and a questionnaire about your trading experience;
3. upload documents confirming your identity and registration address.

Client Area Overview

Upon successful verification of your account, you will be able to:

• open trading and demo accounts;
• deposit and withdraw funds;
• open a PAMM account;
• invest in PAMM accounts;
• download trading platforms and mobile applications;
• participate in the FIBO Group affiliate program.

Minimum Deposit

The minimum deposit required to open an account with the FIBO Group broker varies depending on the chosen account type.

If you are new to the market and want to start trading with minimal risk, you can open an MT4 Cent account, which does not require a minimum deposit. This type of account is ideal for novice traders and those who want to test their strategies without significant financial investments.

If you are a more experienced trader and are ready to trade in larger volumes, you can choose from MT4 Fixed, MT4 NDD, MT4 NDD No Commission, MT5 NDD, or cTrader NDD accounts. For these types of accounts, the minimum deposit is 50 US dollars.

Thus, FIBO Group offers flexibility in account opening, considering each trader's comfort level and experience.

FIBO Group offers a wide range of options catering to the needs of different traders, from beginners to professionals.

Trading Accounts

FIBO Group provides its clients with 6 different types of accounts, which differ in:

• execution model;
• the presence or absence of commissions;
• the amount of the minimum deposit.

MT4 Cent

MT4 Cent is an account suitable for beginners; one can start trading with real money after practicing on a demo account. All calculations are in cents, which reduces potential losses by 100 times in case of unsuccessful trades. This cent account can also be used for testing advisors and strategies.

MT4 Fixed

MT4 Fixed is designed for those who prefer classic "manual" trading with instant order execution. This account features a fixed spread and is suitable for long-term strategies. Four-digit quotes eliminate unnecessary "noise" on the charts.

MT4 Cent and MT4 Fixed accounts can only be opened with FIBO Group, Ltd.

MT4 NDD

MT4 NDD is suitable for scalpers and news traders. It provides market execution of orders without requotes.

cTrader NDD

cTrader NDD is suited for intraday trading. This account operates exclusively on the cTrader trading platform, which offers a wide range of analytical capabilities, including depth of market and custom robots.

MT5 NDD

The NDD technology provides access to deep liquidity from the world's largest banks. NDD trading is also available on the MetaTrader 5 platform using the MT5 NDD account, but only through FIBO Group, Ltd.

Swap-Free Account

An Islamic or Swap-free account is designed for clients who cannot trade under general conditions due to religious beliefs. The only difference between Islamic and regular trading accounts is the absence of swaps - the deduction of a certain amount for carrying over an open trading position to the next day. Instead, a fixed commission is charged once a week (on the night from Wednesday to Thursday).

This service is available only for MT4 Fixed accounts.

To activate an Islamic account, one must contact customer support at service@fibogroup.com.

Demo Account

To get to know the broker better, gain practical Forex trading experience, or test a trading strategy's effectiveness, one can use a demo account from FIBO Group. It can be opened in the personal account by selecting:

• one of the aforementioned account types: MT4 Fixed, MT4 NDD, cTrader NDD, MT4 NDD No Commission, or MT5 NDD;
• an amount to start trading with;
• a leverage ratio: 1:1, 1:25, 1:50, 1:100, 1:200, or 1:400.

Investment Accounts

For those who cannot or do not wish to trade on the exchange independently, FIBO Group offers several ways to manage their funds:

• PAMM accounts;
• Copy trading.

PAMM Accounts

PAMM accounts allow the investor and the managing trader to earn money.

Managed Account Ratings are available on the broker’s website. Each manager has their terms of cooperation with investors. Therefore, before starting, carefully read the offer contract, which specifies:

• the minimum investment amount;
• the manager's remuneration;
• the penalty for early withdrawal of funds before the end of the investment period.

Copy Trading

Another form of investment offered by FIBO Group is automatic trading, the essence of which is to copy the transactions of successful market participants to one's account. It is available on the MT4 and MT5 platforms.

Each signal has clear statistics and a complete history, allowing subscribers to make an informed and thoughtful choice. There are both paid and free signals.

Depending on the signal provider's terms, a fee may be charged weekly or monthly. You can choose a signal provider from the table on the broker’s website.

Subscriptions can be made any day of the month and canceled at any time.

FIBO Group's commissions can be considered average in the market.

The transaction fee charged by the broker is average. Spreads and swaps are offered at below-market levels, which is advantageous for traders. However, the inactivity fee for an account and potential costs associated with depositing or withdrawing funds may increase the overall cost of trading for the client.

Trading Fees

FIBO Group offers its clients a range of account types, each with its specific trading commissions. Trading commissions include a transaction fee as well as spreads and swaps.

Commission per lot

The transaction fee depends on the type of account chosen. For MT4 NDD and cTrader NDD accounts, the commission is 0.003% of the transaction amount, while for MT5 NDD accounts, the commission is 0.005%. This is an average fee compared to other Forex brokers.

Here is a comparison of the commission per lot for the EURUSD pair among different Forex brokers:

Spreads and Swaps

Spreads and swaps vary depending on the selected account type and currency pair. FIBO Group's spreads are below market rates, and swaps are average for the market.

Inactivity Fee

FIBO Group reserves the right to charge an inactivity fee. If a trading account remains inactive, the company can set a regular monthly charge of up to $5 (or the equivalent in another currency). The fee is deducted from the inactive account throughout inactivity.

Withdrawal Fee

The company reserves the right to set a withdrawal fee. The client pays all commissions and other costs associated with the selected method of depositing or withdrawing funds from the client's trading account. At the same time, FIBO Group also reserves the right to fully or partially reimburse these commissions and other costs.

FIBO Group offers many payment systems, including cryptocurrency payments, making depositing and withdrawing funds convenient for most clients.

The only minor downside is the fees for fund withdrawal. In some cases, the costs can range from 0.5% to 2.5%, which can slightly increase the overall expenses for the client.

Deposit Methods

You can fund your FIBO Group account in various ways, but you must initially familiarize yourself with the fees and limits on transactions.

Payment System	Currencies	Deposit Fee	Operation Limit
Neteller	USDEUR	4.9%	—
Skrill	USD	3.9%	—
WebMoney	USDEUR	0.8%	—
Swift	USDEURRUB	0% limitscommission limits	—
Visa	USDEUR	0%	—
Mastercard	USDEUR	0%	—

Cryptocurrency	Blockchain	Deposit Fee	Operation Limit
BTC (Bitcoin)	BTC	0%	—
ETH (Ethereum)	ERC20	0%	—
EURS (Stasis Euro)	ERC20	0%	—
USDT (Tether)	ERC20	0%	—
BCH (Bitcoin Cash)	BCH	0%	—
XRP (Ripple)	XRP	0%	—
USDT (Tether)	TRC20	0%	—

Funds are credited to the account upon receipt of the payment. This can take up to 5 business days for bank transfers, while it usually occurs within one day for other methods.

Withdrawal Methods

Withdrawal of money is carried out using nearly identical methods.

Payment System	Currencies	Withdrawal Fee	Operation Limit
Skrill	USD	1% limitscommission limits	—
Neteller	USDEUR	2% limitscommission limits	—
WebMoney	USDEUR	0.8% limitscommission limits	—
Swift	USDEURRUB	0% limitscommission limits	—
Visa	USDEUR	2.5%+ 1.5 EUR limitscommission limits	—
Mastercard	USDEUR	2.5%+ 1.5 EUR limitscommission limits	—

Cryptocurrency	Blockchain	Withdrawal Fee	Operation Limit
BTC (Bitcoin)	BTC	0.5%	—
ETH (Ethereum)	ERC20	0.5%	—
EURS (Stasis Euro)	ERC20	0.5%	—
USDT (Tether)	ERC20	0.5%	—
USDT (Tether)	TRC20	0%	—

All requests for fund withdrawals are processed within up to 3 business days.

By the company's regulations, funds can only be withdrawn using the same method used for the deposit.

There is a particular procedure for depositing and withdrawing funds for corporate clients. This can be reviewed on the broker's website.

FIBO Group offers a decent selection of various instruments, but some traders might find the options limited. For instance, FIBO does not allow trading CFDs on stocks, which may make the total number of available CFDs seem small compared to other brokers.

Markets Available

The range of financial instruments available at FIBO Group includes 84 different instruments:

Leverage

Consider the leverage relative to the trading instrument.

FIBO Group offers its clients the three most popular trading platforms in the world:

1. MetaTrader 4
2. MetaTrader 5
3. cTrader.

Each platform has its unique features and benefits:

1. MetaTrader 4, which is available for Windows, iOS, and Android, is the most popular trading terminal and can be downloaded from the broker's website. It is equipped with more than 50 built-in technical indicators, and the MQL4 language allows for the development of custom algorithms. The program enables unlimited windows, each configured independently of the others and working with different charts.

2. The multi-market platform MetaTrader 5 is equipped with all the tools for online trading. It can be used to trade currency pairs, futures, and stocks. It is utilized for trading using NDD technology with high-speed order execution.

3. The cTrader platform also provides FIBO Group's clients the opportunity to trade using NDD technology with access to the liquidity of global banks without intermediaries. The average order execution speed is up to 1 ms, which minimizes price slippage. In addition to the desktop version of cTrader, a web version is also available. The broker's website also offers convenient platforms for creating trading robots and indicators (cAlgo) and automated trading (cMirror).

To simplify the analysis of market conditions and to facilitate prompt decision-making, FIBO Group offers an extensive analytics section. This includes:

• Short-term and long-term forecasts;
• Latest news;
• Economic calendar;
• Trading schedule;
• Online charts;
• Central bank interest rates information;
• Analytics from FIBO;
• Current currency exchange rates.

The FIBO Group Academy offers extensive educational opportunities for traders of all experience levels.

Beginners may find it beneficial to start with opening a demo account, which allows familiarization with the trading platform's features, the basics of Forex trading, and the function of margin trading.

The educational process at the academy is guided by experienced traders and experts with many years of Forex market experience. Students can learn through webinars, attend practical courses, and listen to analytical streams that provide detailed breakdowns of current Forex market situations.

FIBO Group also offers video courses tailored to the audience's knowledge level. For beginners, there are video courses covering the basics of trading, while experienced traders have access to materials for an advanced level.

Education at the FIBO Group Academy aims to develop a comprehensive approach to market analysis among traders, significantly increasing their chances of successful Forex trading.

In every country where the broker FIBO Group operates, a professional customer support system has been established that can be contacted by phone and email.

Additionally, FIBO Group provides an online chat service where any website visitor can get assistance.

Conclusion

FIBO Group is suitable for various types of traders, including beginners and experienced ones. The broad selection of accounts and trading platforms allows every trader to find an appropriate solution. Additionally, educational materials and analytics will aid in skill development and making informed trading decisions.

The broker offers competitive trading conditions, various instruments, and robust support. However, fees and the absence of certain assets may limit its potential.

FAQ

Is Fibo Group legit?

Yes, Fibo Group is a legitimate broker regulated by the Financial Services Commission (FSC) of the British Virgin Islands.

Which country is Fibo Group from?

Fibo Group is headquartered in the British Virgin Islands.

Is Fibo Group an ECN broker?

No, Fibo Group offers NDD (No Dealing Desk) accounts, but they operate on an STP (Straight Through Processing) basis rather than an ECN (Electronic Communication Network) model.

How does Fibo Group make money?

Fibo Group makes money through spreads, commissions on trades, and other service fees.

Is Fibo Group good for beginners?

Yes, Fibo Group is good for beginners due to its wide range of educational materials, demo accounts, and user-friendly trading platforms.

Does Fibo Group offer a demo account?

Yes, Fibo Group offers a demo account that allows traders to practice and familiarize themselves with the platform before trading with real money.

How can I open an account with Fibo Group?

To open an account with Fibo Group, visit their website, click on the "Open Account" button, and follow the registration process, which includes providing personal information and verifying your identity.

How can I delete my Fibo Group account?

To delete your Fibo Group account, you need to contact their customer support and request the closure of your account. They will guide you through the necessary steps.

What is the minimum deposit for Fibo Group?

The minimum deposit for Fibo Group varies depending on the account type. It generally starts from $50.

What is the maximum leverage on Fibo Group?

The maximum leverage offered by Fibo Group is 1:1000, depending on the account type and regulatory requirements.

How do I deposit funds in a Fibo Group account?

To deposit funds in a Fibo Group account, log in to your account, go to the "Deposit" section, and choose your preferred payment method. Follow the instructions to complete the deposit.

How do I withdraw money from Fibo Group?

To withdraw money from Fibo Group, log in to your account, go to the "Withdrawal" section, choose your preferred withdrawal method, and follow the instructions to complete the process.

Does Fibo Group provide VPS?

No, Fibo Group does not provide VPS (Virtual Private Server) services. Traders may need to arrange their own VPS for stable and uninterrupted trading, especially for automated trading strategies.

Is Fibo Group suitable for scalping?

Yes, Fibo Group is suitable for scalping as it allows traders to execute high-frequency trades with low spreads and fast execution speeds.

Is Fibo Group suitable for auto-trading?

Yes, Fibo Group is suitable for auto-trading and supports various automated trading strategies through its trading platforms and VPS services.

Is Fibo Group suitable for hedging?

Yes, Fibo Group allows hedging, enabling traders to open positions in both directions to manage risk effectively.

Is Fibo Group suitable for spread betting?

No, Fibo Group does not offer spread betting services. It focuses on traditional forex and CFD trading.