Fibo Group Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- cTrader
- MetaTrader4
- MetaTrader5
- WebTerminal MT4
- FSC BVI
- 1998
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- cTrader
- MetaTrader4
- MetaTrader5
- WebTerminal MT4
- FSC BVI
- 1998
Our Evaluation of FIBO Group
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
FIBO Group is a moderate-risk broker with the TU Overall Score of 5.76 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by FIBO Group clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
The Fibo Group has an excellent reputation and a great history with a deserved the large number of traders working with them in the Forex market. The company provides comfortable working conditions for both beginners and professional traders.
Brief Look at FIBO Group
Fibo Group broker is an international financial holding company, it has been operating since 1998. It is considered to be one of the first brokers to operate in the Forex market. The company offers a wide range of services for trading and investing. Fibo Group is an award-winning company, having won “Best ECN Broker” at the Forex EXPO in 2014 and “The Most Trusted Forex Broker 2014” according to the International Investment and Finance Exhibition of China. These achievements are a testament to their high quality. The broker is licensed by FSC. Jurisdiction - British and Virgin Islands (SIBA/L/13/1063).
- a wide range of trading platforms, including terminal versions for mobile devices.
- 24/7 technical support.
- large selection of currency pairs (over 60).
- penalties and fees for early money withdrawal from a PAMM account.
- customer service is available 24/7, but often there is a response delay of 12 hours or more.
- a fairly modest program for bonuses, promotions, and special offers.
- large minimum deposits, which can be a problem for the beginner traders.
- relatively high spreads, especially when working with not the most popular trading instruments.
TU Expert Advice
Financial expert and analyst at Traders Union
The Fibo Group has been operating in the Forex Market for more than 20 years. During this time, this broker has established itself as a reliable organization, its professionalism is recognized by the large number of industry awards that it has received. Today, the company has a predominantly positive reputation, but also has some mixed views and therefore some negative reviews as well. The company has a wide selection of various trading accounts (cent, NDD, etc.).
A large number of investors are attracted by the PAMM platform. Its advantage is the rating that allows you to choose the most suitable manager, taking into account a whole range of various factors. All this makes the Fibo Group automated trading service attractive for large investors.
In our opinion, this broker is focused primarily on professional market participants who require maximum features and acceptable conditions for conducting successful trading. The Fibo Group website is a classic one, its user-friendly interface has good functionality when searching for the information you need.
Fibo Group has successfully cooperated with Traders Union since 2015. In the course of work, we have no complaints about this broker. The company consistently fulfills all its obligations to customers and partners.
- You are looking to access a diverse range of trading instruments, including Forex, metals, indices, commodities, and cryptocurrencies.
- You prefer using advanced trading platforms such as MetaTrader 4, MetaTrader 5, and cTrader for an enhanced trading experience.
- You want to trade with lower minimum deposits, as this broker requires a minimum deposit of $50 for MT4 accounts and $500 for MT5 and cTrader accounts.
We checked the office of the FIBO Group brokerage company in Cyprus, which is located at the following address according to the information on the company’s website:
29 Agias Zonis, 3027, Limassol, Cyprus
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The company is located at the stated address
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We were able to speak to a company representative
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We were able to visit the office as clients
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Video of the company’s office
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FIBO Group Summary
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
💻 Trading platform: | MetaTrader 4, MetaTrader 5, cTrader, WebTerminal MT4, WebTerminal MT5 |
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📊 Accounts: | Demo, MT4 NDD, MT4 Cent, MT4 NDD No Commission, MT4 Fixed, MT5 NDD, cTrader NDD |
💰 Account currency: | EUR, USD, CHF, GBP, GLD, BTC, ETH |
💵 Replenishment / Withdrawal: | SWIFT Bank transfer, Connectum, RegularPay, Blockchain.com, BITPAY, Raidospare, WebMoney, Neteller, Skrill |
🚀 Minimum deposit: | From $1 |
⚖️ Leverage: | Up to 1:1000 |
💼 PAMM-accounts: | Yes |
📈️ Min Order: | 0.01 |
💱 Spread: | From 0-2.0 pips |
🔧 Instruments: | Currencies, CFD, Spot Metals, Cryptocurrencies |
💹 Margin Call / Stop Out: | 20%, 50% |
🏛 Liquidity provider: | There is no information on liquidity providers on the company's website. |
📱 Mobile trading: | Mobile versions MetaTrader 4 Mobile for iOS and Android |
➕ Affiliate program: | Yes |
📋 Orders execution: | Instant Execution, Market Execution |
⭐ Trading features: | There is cryptocurrency trading; There are accounts for scalping; Free analytics. |
🎁 Contests and bonuses: | Currently unavailable |
The trading conditions of Fibo Group can be classified as affordable and comfortable. The company offers a wide selection of trading platforms for PCs, tablets and smartphones. The broker provides several types of trading accounts, and the client can choose the best one for himself. Additional trading opportunities are provided by leverage up to 1: 1000.
FIBO Group Key Parameters Evaluation
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Trading Account Opening
To start trading in the Forex Market with the Fibo Group and receive a spread refund using Traders Union, you need to:
Register on the Traders Union website, which is simple, fast and free. Once you have completed your registration you will receive a special affiliate link, go to the website of Fibo Group. On the broker’s home page click the "Open Trading Account" button.
Log in by entering: your phone number, your last name and first name (in English), as well as your email address (will be used as a login). The data for entering your personal account will be sent to the specified mail. Before replenishing your account, we strongly recommend that you go through verification.
The following functions in the Fibo Group personal account are available:
In addition, a number of other useful functions are available to users:
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Information on bonuses received as part of affiliate programs.
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Latest market news.
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Managed Account Data (PAMM).
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Sending messages to Customer support staff
Regulation and Safety
The activities of the Fibo Group broker are regulated by the British Virgin Islands Financial Services Commission BVI FSC (license number SIBA / L / 14/1063).
BVI FSC is an international regulator with a fairly high level of authority. This organization sets strict requirements for licensees, which ensures the safety of traders' funds in segregated accounts.
Advantages
- Use of segregated accounts in accordance with regulatory requirements
- Negative balance protection
- Settlement of disputes involving an independent person as arbitrator
Disadvantages
- Regulator does not consider claims of private traders with insignificant amounts
Commissions & Fees
Account type | Spread (minimum value) | Withdrawal commission |
---|---|---|
Cent | From $0.06 | Yes |
Fixed | From $20 | Yes |
NDD | From $0 | Yes |
cTrader NDD | From $0 | Yes |
NDD No Commission | From $8 | Yes |
MT5 NDD | From $0 | Yes |
There are swaps (commission for transferring an open trade to the next day). In addition, we compared the trading commissions in Fibo Group with the similar figures of other brokers. As a result, based on this comparison, each company was assigned an appropriate level by this criterion.
Broker | Average commission | Level |
---|---|---|
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$12 | |
|
$1 | |
|
$8.5 |
Account Types
The Fibo Group offers a range of accounts to choose from. There are options for beginners and professional traders. They differ in the minimum deposit size, type/level of spread, as well as the presence or absence of a commission.
Account types:
To learn more about the capabilities and working conditions of this broker, we recommend using a demo account.
The Fibo Group is a reliable company that provides ample opportunities for comfortable trading and is aimed at a diverse audience of clients - from the beginners to professionals.
Deposit and Withdrawal
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The Fibo Group company instantly withdraws funds at the request of the client - an application for withdrawal. The commission depends on the selected withdrawal method. There are restrictions on the withdrawal size and frequency.
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There are 10 options for replenishment and withdrawal: bank transfer SWIFT, YooMoney, Connectum, RegularPay, Blockchain.com, BITPAY, Raidospare, WebMoney, Neteller, Skrill.
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When withdrawing to electronic systems, funds are credited within a few minutes. When withdrawing to credit cards through the services YooMoney, Connectum, RegularPay, crediting takes place within a period of up to 10 business days. When using bank transfer to withdraw funds through the SWIFT system, the transfer is made within 3-5 working days.
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Currencies of withdrawal and replenishment: USD, EUR, GBP, CHF, BTC, ETH, RFC.
Please note that in case of withdrawal of an amount exceeding $1,000, you have to go through the verification procedure.
Investment Options
The Fibo Group provides a wide selection of different options for investing and generating passive income. One of the most popular among them is the PAMM service of a broker. In addition, the broker provides automated trading through the use of trading signals.
The procedure for subscribing to signals is extremely simple and fast. There is no need to enter into any written contract with the subscriber, the signal provider, and the brokerage company. This process is automated within a reliable system that guarantees the accuracy of transaction execution. It is important to emphasize that the execution of transactions is carried out with minimal delays.
The Benefits of Automated Trading at Fibo Group:
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all signals are equipped with detailed trading history and statistics. This enables you to carefully study them before subscribing;
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certain signals are completely free, others, in turn, require a monthly fee (once a week or a month) to the trader who acts as a provider of these signals;
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a rating table allows to choose the most suitable signal provider;
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you can subscribe to signals and unsubscribe at any time;
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automated trading can be carried out by trading robots, advisor programs of the MT terminal and through the MetaQuotes trading signal service.
Please note that any client of Fibo Group can take part in the investment program. By doing so he can act both as a trader who copies transactions, and as a signal provider.
If you are a large investor and plan on investments over $ 10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Affiliate Program from Fibo Group
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Return from 1 pip, up to 25% commission and 30% spread for each complete transaction, depending on the volume of trade of attracted users.
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PAMM agent - 15% of manager's remuneration.
By driving and forming a network of customers, traders get an opportunity for additional income. Affiliate reward is accrued daily without any restrictions on settlement and payments.
Customer Support
The broker provides 24/7 customer support.
Advantages
- There is an online chat and a phone support
- Multilingual support(English, Indonesian, Spanish,German, Russian, French)
Disadvantages
- Not working on weekends
Multilingual support
(English, Indonesian, Spanish,
German, Russian, French)
There are several ways to contact Customer support:
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by phone numbers indicated on the site;
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via email;
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via live chat on the broker's website;
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via the feedback form in your account.
Customer support is available both from the site of the brokerage company and from your personal account.
Contacts
Foundation date | 1998 |
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Registration address | Suite 925a, Block 8/9, Europort, Gibraltar. |
Regulation |
FSC BVI
Licence number: SIBA/L/13/1063 |
Official site | fibogroup.com |
Contacts |
+43 720022355, 8 800 505-34-26
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Education
A special analytics section with tools useful for both the beginner and professional traders has been created on the site of the Fibo Group broker company.
It is recommended that each of these tools is tested on a demo account.
Comparison of FIBO Group with other Brokers
FIBO Group | RoboForex | Pocket Option | Exness | IC Markets | AMarkets | |
Trading platform |
MT4, MobileTrading, MultiTerminal, CQG, cTrader | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, cTrader, MT5, TradingView | MT4, MT5, AMarkets App |
Min deposit | $300 | $10 | $5 | $10 | $200 | $100 |
Leverage |
From 1:1 to 1:400 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
From 1:1 to 1:3000 |
Trust management | No | No | No | No | No | No |
Accrual of % on the balance | No | No | No | No | No | No |
Spread | From 0.8 points | From 0 points | From 1.2 point | From 1 point | From 0 points | From 0 points |
Level of margin call / stop out |
25% / 20% | 60% / 40% | 30% / 50% | No / 60% | 100% / 50% | 50% / 20% |
Execution of orders | NDD, Market Maker | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution |
No deposit bonus | No | No | No | No | No | No |
Cent accounts | No | Yes | No | No | No | No |
Detailed Review of Fibo Group
The Fibo Group is ranked high among the top companies operating in the Forex market. In its work, the company strictly adheres to the principles of transparency, comprehensive protection of customer's interests, as well as strict compliance with legislative requirements and standards, including the requirements of national regulators.
The company is constantly developing and is confidently moving forward, introducing new services designed to simplify and diversify the trading process.
The Fibo Group has offices in major European countries, Central and East Asia. Also, the important advantages of the Fibo Group are:
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annual audit confirming the company's compliance with the highest standards;
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a large selection of ways to replenish your account and withdraw funds;
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numerous awards.
What makes the Fibo Group so popular amongst traders of the Forex Market?
The Fibo Group provides a wide selection of trading platforms, financial instruments and trading accounts. The company offers both cent and demo beginner accounts for beginner traders and for experienced traders at levels of experience they offer both classic and professional accounts. Through the use of innovative technologies, the Fibo broker company guarantees the maximum speed of transaction execution and no slippage.
Fibo Group provides customers with the opportunity to work on the MetaTrader 4, MetaTrader 5 and cTrader trading platforms. Busy lifestyle fans can use WebTerminal MT4 and WebTerminal MT5 for trading. For smartphone users, it is possible to trade through the mobile versions of the MetaTrader 4 and MetaTrader 5 trading terminals for iOS and Android.
The Fibo Group offers the following useful services:
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market analysis. Every day, company experts publish reviews of the most popular trading tools, share some analytical information and recommendations;
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economic calendar. Service which contains the most important economic news affecting the dynamics of currency pairs.
Advantages:
all types of trading accounts are segregated;
scalping is allowed;
relatively narrow spread;
free analytics is available;
an opportunity for automated trading is provided.
User Satisfaction