Fibo Review

About Fibo

FIBO Group is a forex and CFD brokerage based in Cyprus. The broker offers trading on MT4, MT5 and cTrader, with a range of live, PAMM and demo account options. In this review, we’ll look at regulation, leverage and pricing, to help you decide if FIBO Group could be a good choice for you.

Fibo Company Overview

FIBO Group offer private and institutional customers an electronic trading platform to trade in a wide selection market instruments such as forex, commodities, financials and shares. The broker executes the transaction on behalf of the trader.

The company is headquartered in Vienna, Austria. It also has offices in Kiev, Singapore, Limassol, Munich and Astana.

In 1998 the company was founded as an investment consulting firm, Financial Intermarket Brokerage On-Line (FIBO). Until 2003 did the company start offering online brokerage service for CFDs and currency trading.

In 2005 FIBO Group became one of the first forex brokers in Russia. During the next couple of years, it quickly expanded and soon became one of the top Russian financial market players.

By 2011 the company became the 4^th largest forex broker in Russia, with more than 35 000 retail customers. In 2017, the company started offering cryptocurrencies and by the next year it was recognised as one of the top 20 forex brokers in the world.

Today, FIBO Group has a global presence across Europe, Central Asia and East Asia. Unfortunately, it does not offer its

Commission, Fees and Spreads

In some cases, brokers charge rollovers, also known as swap fees, for positions held open overnight. These fees are dependent on the interest rate difference between the currency pair traded in the open position. FIBO Group does not charge commissions on its MT4 Cent and MT4 Fixed accounts.

Commissions charged on the MT4 NDD, cTrader NDD and MT5 NDD accounts range between 0.003% and 0.005% of the amount per transaction. Minimum spreads range between 0 pips and 2.0 pips, depending on the type of account.

Leverage

The broker provides a trader to potentially increase funds, the ratio of a trader’s capital to the size of the broker’s credit. If a trader has 300 EUR in the account, an amount of 30 000 EUR can be controlled with a leverage of 1:100.

Although leverage is a great opportunity to increase funds, traders should be aware that the risks are also higher. As FIBO Group follows European Securities and Markets Authority (ESMA) regulatory restrictions, it offers leverage ratios of up to 1:30 for major currency pairs and 1:10 for commodities. Leverage ratios of 1:1000 on the MT4 Cents account and 1:400 on its NDD accounts are offered.

Fibo Group Commission Fees

Fibo Group does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account. A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions. Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf. If a market order is not fulfilled by your brokerage usually no commission is charged. Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

Is FIBO Group safe or a scam?

The broker provides the provision of investment services and secure trading along with professional indemnity insurance, and in addition is a member of the Investor Compensation Fund (ICF). This will make the customers and partners can be assured that all services, provided by any of the companies within the FIBO holding Group. Meets the highest international standards and are under the control of national regulators.

Fibo Trading Flatform

MetaTrader 4

MetaTrader 4 has all the necessary trading tools. There is a wide range of instruments and indicators for technical analysis, news feed, on-line quotes and charts. The program allows you to manage multiple windows with your own indicators and studies. You can work with a few types of charts – lines, Japanese candles and bars.

cTrader

cTrader platform provides access to trading on forex markets using the NDD (No Dealing Desk) technology for professional traders and for newbies as well. It allows users to trade with the international banks directly, avoiding any intermediaries. The average speed of the order execution is less than one millisecond, which grants users with the opportunity to make transactions at the exact moment with the minimum slippage.

Also, this becomes possible due to the cloud technology and placing servers on one platform with the majority of quotes aggregators and liquidity providers.

MetaTrader 5

Meta Trader 5 has a new trading system, a distributed architecture, high productivity and flexibility. MetaTrader 5 platform fully corresponds with the latest international practices of online trading via the NDD (No Dealing Desk) technology. Characteristic features of the NDD technology from FIBO Group Ltd are modern technologies of order processing, tight spreads, and attractive swaps, the best among the other FIBO Group´s trading accounts. Liquidity is provided by the Company’s partner Sucden Financial. In addition, the number of digits after the decimal point has increased from 4 to 5.

Final Thought

FIBO Group is clearly committed to offering its customers a reliable and competitive trading environment. This multi-award-winning company adheres to strict rules and regulations that allow for safe trading practices and the protection of customer funds.

FAQs

What is a lot?

A lot is the standard unit size of a transaction. 1 lot is 100,000 units of base currency. 0.1 of a lot is 10,000 units of base currency 0.01 of a lot is 1,000 units of base currency (this is the minimum lot size). Base currency is the first one in the currency pair.

Do you allow scalping?

Yes, they allow scalping. They do not have any special policies or restrictions on scalping.

How can I deposit funds into my account?

You can replenish your account with FIBO Group Ltd via bank wire transfer, bank card or electronic payment systems. Please see our website for more detailed information.

What do you charge for depositing and/or withdrawing funds?

We do not charge any fees or commission for depositing or withdrawing funds. Please note however that the payment processor will impose their charges and the funds will be deposited to your account (or sent to you) after the deduction of all the relevant charges. The details of our bank charges are shown on our website. The fees and commissions charged by the clients’ banks would depend on the financial institutions and the arrangements that the clients have with them.