Fibo Group includes 2 related companies.
Fibo Group BVI - located in the British Virgin Islands, regulated by the BVI Financial Services Commission (BVIFSC).
Fibo Group CY - located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
Be aware, CY company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
At the same time, BVI company accepts European traders, so one can open a trading account there.
Fibo Group accepts clients from all over the world, excluding USA, Great Britain, Belgium, Austria, Australia, Iraq and North Korea.
Forex broker offers the following underlying assets for trading.
|35+ Currency Pairs||Based on major and minor world currencies.|
|9 Crypto Cash CFDs||Based on Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Dash, Litecoin, Ripple, Monero, Zcash.|
|8 Indice Futures||Based on baskets of different blue-chip stocks and US Dollar Index.|
|2 Metal Spot CFDs||Based on Gold and Silver.|
|3 Metal Futures||Based on Gold, Silver and Copper.|
|4 Energy Futures||Based on Crude Oil (WTI), Heating Oil, Gasoline and Natural Gas.|
|4 Soft Futures||Based on Corn, Wheat, Soybean, Sugar.|
FIBO Group (originally Financial Intermarket Brokerage Online) is one of the oldest online brokers in the industry, set up all the way back in 1998 when online trading was still in its infancy. The broker has won numerous awards over the years, including the ‘Best Standard FOREX Broker’ and ‘Best FOREX broker in Europe’ awards at the Moscow Financial Expo in 2016.
The broker has 6 offices around the world, including in cities like Shanghai and Munich. Its global headquarters is registered in the British Virgin Islands, where it is also regulated by the country’s Financial Services Commission. However, the broker is also regulated locally in Europe under CySEC with the website Fibogroup.eu, which operates with much stricter trading conditions such as a leverage cap of just 1:30.
Internationally, however, leverage goes up to 1:1,000 for the most liquid instruments, while it is capped at 1:10 for cryptocurrency CFDs.
FIBO Group offers trading in up to 42 popular currency pairs, as well as CFDs on a long range of other financial assets, including commodities, stock indices, individual stocks, cryptocurrencies, and precious metals. It is really in terms of the selection of CFDs that FIBO Group excels as a broker, offering a lot of different CFDs to trade on. This is a very solid offering compared to what many other brokers in the industry has available.
No longer relevant: It should be noted that most of the stock CFDs are only available via the broker’s new trading platform known as Umstel. This is a modern web-based platform that shares similarities with the popular charting platform TradingView, and it should be easy to use even for beginners. The platform has a great user interface, good technical analysis capabilities, and comes with a multi-chart layout that allows for viewing up to six charts simultaneously in a single window.
FIBO Group is currently offering both MetaTrader 4 and 5, as well as the popular cTrader as its platforms. While the MetaTrader platforms should be familiar for most retail traders, cTrader is less known in the industry. cTrader was developed by a British company, and has been designed from the bottom up for ECN (electronic communications network) trading. Some traders also prefer the cTrader platform over MetaTrader, arguing it has a better and more intuitive user interface.
There are a total of 5 different types of trading accounts available to choose from for FIBO Group’s clients:
– MT4 Cent Account for small trading accounts
– MT4 Fixed Account with fixed spreads, guaranteed stop-loss, and negative balance protection
– MT4 NDD (“no dealing desk”) No Commission Account with commission-free trading, ideal for short-term trading
– MT4 NDD Account with commissions and tight spreads
– cTrader NDD Account, ideal for short-term trading on the cTrader platform
FIBO Group accepts deposits via all the most common method like bank transfer, payment cards, and various online payment services like Skrill and Neteller. In addition, it is possible to deposit money with cryptocurrencies Bitcoin and Bitcoin Cash (via Bitpay payment system) for even greater convenience.
Lastly, the broker’s website includes an extensive analysis section that covers all aspects of the market, including detailed analysis and trading ideas for currencies, commodities, and crypto, to help traders stay on top of everything that is moving the markets.
My 1 year experience working with fibo. Throughout the last year I did not have that many cons, mostly the pros. I am not completely satisfied with the spreads, they could have been tighter on some of the fx pairs. Withdrawal isn't always as fast as I would like it to be, though I understand that its for the sake of my money's safety.
The platforms the broker supports are fine, both mobile and desktop versions. Also they got a mobile app for market analysis where you can check your balance from time to time. The support team was responsive, had to contact them a couple of times to set up the platform.
Their educational courses are free, you can watch the vids any time. Many traders looses their money on forex, as a rule its their own fault. One should always keep to their strategy it's like driving a bike, keep your eyes open and you be fine. Watch and analyze the market and you end up in profit.
I’ve chosen the No Commission account because I like short-term trading. I can’t trade the whole day so I chose the time comfortable for me. It is especially profitable to trade on big news releases, which are posted on the FIBO app including some analytics in advance. Deposit is fast, the overall process is simple.