Unique Selling Points
Best Forex broker for Flexible trading
Lucrative PAMM commission: FIBO Group's Managed Account (PAMM) service is an excellent opportunity for those who want to invest their money but need more knowledge and experience to manage their trading accounts. With a range of experienced managers to choose from, transparent calculations of commissions, and no restrictions on withdrawals, this service is an excellent way to earn profits without worrying about your trading account's day-to-day management.
Multiple payment gateways: The FIBO Group forex broker platform has a wide range of payment systems that provide traders with flexibility and convenience when funding their accounts and withdrawing their profits. With multiple payment options, you can select the one that works best for you and start trading quickly.
Long-term Market Experience: FIBO Group's extensive market experience gives its clients the confidence and assurance that their investments are in the right hands. The company has also built a reputation for itself as a trustworthy and reliable broker, thanks to its transparent and fair trading practices. Over the years, FIBO Group has received numerous prestigious awards, recognizing its excellence in various areas of the forex industry.
The International Financial Holding FIBO Group (Financial Intermarket Brokerage Online Group) is among the oldest players in marginal internet trading. Established in 1998, FIBOGroup has years of experience and is dedicated to providing its Forex/CFD trading services to millions of clients worldwide.
The company’s headquarter is in the Republic of Cyprus with registration number HE242381. FIBOGroup is regulated by CySEC and FSC, ensuring their clients' top-notch security and regulatory compliance.
FIBO Group offers a trading platform that provides a wide range of assets, including spot metals, indices, ETFs and individual stocks, and Forex currency pairs on major and minor financial markets. This means you can choose from various trading instruments to diversify your portfolio and maximize your profits.
Regarding trading platforms, FIBOGroup offers MetaTrader 4, MetaTrader 5, and cTrader, all of which are user-friendly and packed with features to help you make informed trading decisions. The platform also has competitive pricing and a maximum leverage ratio of 1:1000 with a minimum deposit of $50. In addition, you can also enjoy an Islamic account (swap-free) option.
This FIBO Group broker review will provide an in-depth analysis of the platform, making it easy for you to decide if it's best for your investment.
FIBO Group takes pride in its global presence across Europe, Central Asia, and East Asia. To this end, they accept clients from a wide range of countries, including Thailand, the United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and many more.
However, due to legal restrictions, FIBO Group cannot offer services to residents of certain countries. They do not accept clients from Australia, Israel, Japan, North Korea, the United States, Belgium, and Iraq.
Customer Service Rating
FIBO Group offers award-winning customer support to help you out. Their customer support team is based in Cyprus but has dedicated lines and email addresses for their offices in Shanghai, Singapore, and Limassol. In addition, they have representative offices in Kazakhstan, Germany, and China that you can contact for support.
The team consists of professional and multilingual employees available to assist you 24 hours a day, five days a week. You can contact them via telephone, email, or live chat, whichever method suits you best. If you're interested in keeping up with FIBO forex on social media, they have active accounts on Facebook, Instagram, LinkedIn, and YouTube.
On many FIBO Group broker reviews, many users attest to the effectiveness of the platform. However, there is also negative feedback, the broker has an average score rating of 2.9 out of 5 stars. Client dissatisfaction is usually around the poor level of service, the slow response time, and the lack of efficiency with customer relations. Some reviews mention issues with the regulatory status of FIBO with some claiming its license has been revoked.
FIBO Group Trading Platforms
FIBO Forex comes with four top-rated platforms to choose from. This allows traders to experience the benefits of advanced software and various trading styles.
cTrader: The cTrader platform is a popular choice among both professional traders and newbies alike, with the added benefit of a market sentiment indicator, economic news, Depth of Market view, and trading robots using the cAlgo integrated tool. Traders can enjoy over 50 customizable indicators and 26 chart time frames, and copy-trading functionality.
MT4: The MetaTrader 4 (MT4) trading platform is another great option, boasting a powerful and fully customizable interface that supports multiple trading styles. With access to 30 pre-included indicators and a range of graphical objects, traders can analyze the markets at 9 intervals. Clients can also utilize expert advisors (robots) for automated trading strategies.
MT5: The MetaTrader 5 (MT5) platform may be the perfect fit if you're looking for even more features and functionality. With a broader range of technical indicators and drawing tools, 21-time intervals, and advanced order and execution types, the MT5 platform provides traders with everything they need to make informed trading decisions.
WebTerminal MT4: FIBO Group's WebTerminal MT4 allows you to trade from any computer connected to the internet. It works with all operating systems, including Windows, Mac OS, and Linux. Web Terminal MT4 comes with one-click trading, a trading history feature, 30 technical analysis indicators, and graphic objects such as lines, arrows, text, and text labels. You can perform any trading operation, and real-time quotes are available on Market Watch. Plus, you can analyze the markets in 9 different time frames.
Type of Trading Accounts on FIBO Group
The FIBO Group Broker has various account types to meet the diverse needs of potential clients. Whether you're a beginner or an experienced trader, you will find an account that works for you on FIBO.
The MT4 Cent Account: The MT4 Cent account from FIBO Forex is the perfect choice for beginners or traders with limited capital. With a minimum lot/volume step of just 0.01/0.01 and spreads starting from 0.6 pips, this Account is designed to help traders ease into the market without incurring significant risks. Additionally, the Account allows deposits starting from 0 cents and has a fast withdrawal of funds. You can make all calculations in cents, which means you can test trading robots in actual market conditions without making substantial financial investments. The account currency is USD cents and GLD.
The MT4 Fixed Account: For traders who prefer long-term or manual trading, the MT4 Fixed account is an ideal choice. It's perfect for strategy testing and chart analysis, with spreads set according to currency pair liquidity and volatility. With a minimum deposit of just $50, you can start trading with a minimum lot/volume step of 0.01/0.01 and spreads starting from just 2 pips. There are no commissions to worry about, and you can choose from various account currencies, including EUR, USD, RUR, CHF, and GBP.
The MT4 NDD Account: This Account offers Market Execution of orders, making them an excellent choice for intraday traders who use scalping strategies that involve multiple short-term trades. The MT4 NDD account is known for its speedy order execution, low floating spreads, and lack of requotes, which can benefit traders. With a minimum deposit of $50 and a commission of just 0.003% from the transaction amount, you can take advantage of the Market Execution of orders. Account currency is EUR, USD, and GLD.
The MT4 NDD NO COMMISSION Account: This account type offers NDD technology, which gives you direct access to major liquidity providers, and your orders are executed at the best available prices. With no dealing desk, it eliminates the possibility of requotes. The minimum deposit is only $50, with a minimum lot/volume step of 0.01/0.01. The spread starts from 0 pips. The account currency options include EUR, USD, and GLD3.
The MT5 NDD Account: This trading account has a powerful "market depth" instrument that allows traders to monitor the online market situation in real time. With spreads from 0 pips and a commission of just 0.005%, you can use the MetaTrader 5 platform and its inculcated "market depth" instrument. With a minimum deposit of just $50, this Account is ideal for intraday scalping and automated trading. The account currency is in USD.
The cTrader NDD Account: With the application of No Dealing Desk technology on cTrader NDD accounts, traders can enjoy direct trading access to some of the world's most excellent liquidity providers. With the cTrader platform, you'll have access to leading global liquidity providers, including market depth and an interface for developing expert advisors. The minimum deposit is $50, with no spreads and a low commission of just 0.003% of the transaction amount. Account currency is in USD and EUR.
Trading Denominations on FIBO Group
FIBO Group broker accounts offer 8 different base currencies for account denomination: EUR, USD, GBP, CHF, RUB, BTC, Gold, and ETH.
FIBO Group has been around since 1998, and it all started as an investment consulting firm. Today, the company has offices in Kyiv, Singapore, Limassol, Munich, and Astana. And since 2003, FIBO Group has offered online brokerage services for CFDs and currency trading.
This forex broker prides itself on providing customers with everything they need to succeed in trading.
It also has a proprietary PAMM feature that allows professional traders to become Account Managers with a profit-sharing system. And for new traders, following an Account Manager that fits their preferences is a breeze with the Manager rating table. Over the years, FIBO Group has won numerous awards, recognizing its dedication to customer service, transparency, and excellent trading systems.
They were awarded the Best 24/5 Customer Service award at the Forex Expo 2013 and the Best Forex Execution House award at the 11th MENA Forex Expo Dubai in 2013. FIBO Group was recognized at the Moscow Financial Expo in 2016, winning awards for Best PAMM Service Broker and Best FOREX Broker in Europe. They also received the Best PAMM Service Broker award at the China International Online Trading Awards in 2014.
FIBO Group Licenses and Regulatory Compliance
FIBO Group is fully regulated by reputable regulatory bodies such as the Financial Services Commission (FSC) in the British Virgin Islands, and the CySEC in Cyprus.
The registration number of its license with FSC BVI is SIBA/L/13/1063.
CySEC in Cyprus with license no. 118/10.
This ensures that the company is bound to adhere to strict rules and regulations that protect customers' funds and ensure safe trading practices.
FIBO Group Customer Protection
The safety of your funds should always be a top priority. And that's why FIBO Group has put measures in place to protect clients' funds.
FIBO Group is a member of the Investor Compensation Fund, meaning clients can receive up to €20,000 in compensation per client. There is also segregation of funds at FIBO Group. The platform puts clients' funds in different bank accounts with legitimate banks. This ensures that clients' funds are kept separate from the company's operating funds and are always available for withdrawal.
The broker also uses SSL technology to encrypt their trading platforms, ensuring that all data transmitted between clients and the company is secure. Additionally, FIBO Group uses two-factor authentication protocols upon login and one-time verification passwords via SMS for specific requests through the member's area. This ensures that only authorized individuals have access to clients' accounts.
FIBO Group offers a wide variety of trading products and instruments to suit the needs of every trader.
Here are some of the products and instruments that you can trade on FIBO Group:
43 currency pairs
Over 20 CFDs on major indices and commodities
9 CFDs on cryptocurrencies
FIBO Group Leverage
As a regulated broker, FIBO Group adheres to European Securities and Markets Authority (ESMA) regulations, which means they offer leverage ratios of up to 1:30 for significant currency pairs and 1:10 for commodities.
They also have higher leverage ratios on specific accounts. For example, if you choose to trade on their MT4 Cents account, you can enjoy a leverage ratio of up to 1:1000. If you prefer their NDD accounts, you can enjoy a leverage ratio of up to 1:400.
Deposits and Withdrawals
Getting funds on and out of the FIBO forex platform is simple. They offer a variety of funding methods that cater to different jurisdictions.
On FIBO Group, you can choose from bank wire, credit cards, and online payment systems like Skrill and Neteller.
However, it's important to note that some deposit methods, such as bank transfers, may have commissions. Additionally, processing times vary depending on the payment method you choose. Regardless, most other deposit methods are commission-free.
Depends on sending the bank's conditions
Once the payment cleared
Once the payment cleared
BTC, ETH, BCH, XRP
Once the payment cleared
Cryptocurrencies (raido finance, blockchain, raido spare)
BTC, ETH, RDO, USDT (TRC20), TRX
Bitcoin/Ethereum network commission
Once the payment cleared
When it comes to withdrawing funds from FIBO Group, the currency, and method used to credit your trading account will determine the money used to withdraw your funds. Regarding withdrawals, there may be a commission starting from 0.5%. This ensures that everything is processed efficiently and securely.
Around 35-50 USD
Up to 3 business days
3-5 business days
2 business days
2%, but not less than 1 USD/EUR
2 business days
2 business days
0.8%, 50 USD/EUR maximum
2 business days
BTC, ETH, EURS, USDT (ERC20), RDO
2 business days
10 minutes to several hours
FIBO Group Trading Education and Training
FIBO Group provides a decent range of resources and tools to help traders succeed in forex trading. Here are some of the features that they provide to clients:
FAQs and Glossary.
Video Courses and Forex for Beginners.
Free Charting Tool.
Interest Rates Table.
Calendar of Events.
Is FIBO Group a Scam?
FIBO Group is a well-established online trading broker that has been in operation for over 20 years. It is regulated by several reputable financial authorities, including the Cyprus Securities and Exchange Commission (CySEC) and the UK's Financial Conduct Authority (FCA).
Furthermore, FIBO Group offers various measures to ensure the safety and security of its client's funds, such as segregating client funds from its operating funds and securing its trading platforms with SSL encryption.
All of these point to the fact that FIBO Group Broker appears to be a legitimate online trading broker. However, as with any financial investment, it is always essential to research, understand the risks involved, and make informed decisions based on your circumstances and risk appetite.
How do I open a FIBO Group forex trading account?
Opening a forex trading account with FIBO forex is a straightforward process. Here are the steps you need to follow:
Visit the FIBO Group website and click the "Open an account" button.
Fill out the registration form with your personal information, including your name, email address, and phone number.
Choose the account type best suits your trading needs, such as MT4 Fixed, MT4 Floating, or cTrader.
Provide your trading experience level, financial information, and other relevant details.
Agree to the terms and conditions and submit your application.
Once your application has been approved, you can fund your Account and start trading.
It's important to note that FIBO Group often requires additional documentation to verify your identity and comply with anti-money laundering regulations.
FIBO Forex is a reliable and reputable forex broker that offers a comprehensive range of trading instruments and account types to suit the needs of different traders. With its user-friendly platforms, competitive spreads, and low minimum deposit requirements, FIBO Group is an excellent choice for beginner and experienced traders.
Additionally, FIBO Group is an ideal platform for traders who want to benefit from the available leverage and margin trading options. The platform is perfect for traders who wish to access advanced trading tools and resources.