FIBO Group

The Company

FIBO Group offers trading in 60 currency pairs Forex and CFDs on commodities, indices and precious metals across various trading platforms. This is the trade brand name for FIBO Group LTD. Regulated through the Financial Services Commission (FSC), BVI.

This broker belongs to the International Financial Holding FIBO Group (Financial Intermarket Brokerage Online Group) One of the longest-running players in the field of marginal internet trading. The very first company belonging to the holding was established in 1998. Today, it has offices across Europe, Asia and America.

The group also operates via its European division, FIBO Group Holdings Li

mited that is recognized as an Cyprus Investment Firm (CIF) and licensed and controlled under the Cyprus Securities and Exchange Commission (CySEC).

Security of Funds

As we’ve already discussed, FIBO Group Ltd. is controlled under the BVI Financial Services Commission. It is the Category 2 business license which means it is able to arrange deals for investments. To obtain this license, businesses have to pass strict tests through FSC. While it’s not regulated, FSC allows companies to have their headquarters in the US or elsewhere. Additionally, BVI-registered financial service companies are not subject to many of the same regulations that brokers located on UK or the US or UK are subject to. For instance, BVI-registered brokers do not have to participate in an incentive scheme, and do not have to meet any capital requirements for minimum capital.

We generally advise traders to pick between UK, Swissor other brokers that are regulated, so your money will be safe. If, however, you prefer offshore brokers due to a motive, FIBO Group is a solid choice. It’s part of a group that has international reach, with over twenty years experience, and providing pretty good trading conditions and transparent pricing. it is widely regarded by the professionals.

Trading Conditions

Minimum Initial Deposit

The minimum deposit required for FIBO Group customers is $300. This is a reasonable amount for a first deposit however, many offshore brokers need lesser. For example, ForexBrokerInc, located in the Marshall Islands, demands $100 from its clients at start, and that includes ECN accounts.

Average Spreads & Commissions

FIBO Group offers both fixed and variable spreads. Fixed spreads are available for MT4 NDD accounts. They range from 0.0 to 2.0 pips on EUR/USD which is the average.

The broker provides average spreads as 0.3 or 0.2 percent on EUR/USD on NDD accounts, which entail the payment of between $4 and $6 per lot , round-turn. The average costs for trading for this broker are about 0.8 to 0.9 percent for the EUR/USD pair which is a decent deal, considering that the majority of brokers offer spreads in the range of 1.0 to 1.5 pip.

For comparison, FxChoice, registered in Belize has spreads with variable rates that average 0.5 percent on EUR/USD and $3.86 (per lot) (per per side) through its pro account.

Leverage

The maximum leverage level offered through this brokerage is extremely high 1:1000 (Cent account). However, numerous other offshore brokers have the same or even higher leverage levels. ForexBrokerInc along with LiteForex both offer leverage as high as 1:500. Further forex brokers that offer leverage of 1:500 and greater, can be found here.

However, traders must keep in mind that operating at higher leverage levels comes with higher risk of losing a lot.

Trading Platforms

FIBO Group offers its clients the option of choosing from three platforms for trading: MetaTrader 4 (MT4), MetaTrader 5 (MT5) and CTrader.

CTraderis an award-winning ECN multi-asset trading system that provides an extensive set of sophisticated tools. Quick execution and order entry speeds, direct entry of orders through charts, along with Level II prices are one of many reasons many traders choose CTrader as their primary platform. The proxy servers can be easily adjusted to allow fast connection from any place in order to overcome any hurdles. Additionally this platform is compatible with 14 languages.

It is the FIBO Group cTrader suite includes desktop mobile, web and desktop versions, in addition to the cAlgo suite and cMirror. CAlgo lets you build trading robots, as well as your own indicators for technical analysis by using the technology C#. Spotware’s mirror and Social trading software cMirror can be used in conjunction with every cTrader accounts. It is broker-agnostic. This means that traders can replicate any signal provider regardless of whether they belong to different brokers in the cTrader ecosystem.

Of of course, FIBO Group also supports the renowned MT4 which is the preferred choice of experienced traders because it has advanced charting software and a range of indicators that are technical and Expert Advisors (EA) as well as a comprehensive back-testing environments. Below is the list of additional forex brokers that offer the an MT4 platform. It comes with desktop and mobile versions.

MetaTrader 5. The successor to MT4 is also available in this broker. The MT5 was designed and promoted as a better version of MT4 however, many brokers still prefer older version, because until the last few years, MT5 did not support hedges, and more, many of the MT4’s indicators as well as Expert Advisors (EA) cannot be compatible with the MT5 platform. The two platforms MT4 and MT5 support trading signals. Some signals are free Others require a monthly or weekly fee that must pay to trading company or the provider for the signals.

Promotions

The the FIBO group Forex has launched the “Trader’s Triple Chase” contest and the winners will be awarded managed accounts (PAMM) with a bonus of 50 000 USD total.

Furthermore, FIBO Group has partnered with Myfxbook for their PayBackFX rebate program, which lets traders receive rebates on every closed position in any of the brokers supported by the service regardless of whether their trade is successful or not. The rebates available are as follows:

– MT4 Fixed spread accounts:0.45 Pips/Round Turn Lot

– The MT4 Floating Spread accounts:19.5 percent of Spread

— MT5 & cTrader accounts:18.75% of Commissions

Methods of Payment

Customers of FIBO Group can select from a variety of payment methodsincluding the bank wire transfer and credit card Skrill, OKPAY, WebMoney, Qiwi, FasaPay cashU RegularPay DIXIpay BitPay, Netteller as well as Western Union.

Conclusion

Despite its touch-free regulation, FIBO Group is a solid and trustworthy