FIBO Group review: No fee deposits streamline account funding process
FIBO Group has introduced a “No Fee Deposit” initiative aimed at reducing entry costs for traders and investors by fully reimbursing payment system fees on account funding. The move reflects a broader push among online brokers to streamline financial transactions and improve overall trading conditions amid heightened competition in global markets.
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Under the policy, clients depositing funds into trading or investment accounts with FIBO Group receive a full refund of fees charged by most payment systems, ensuring that the entire transferred amount is credited to their accounts.
How the No Fee Deposit works
The mechanism is straightforward. If a trader deposits, for example, $1,000 and the payment provider applies a 6% fee—equal to $60—FIBO Group reimburses that amount. As a result, the full $1,000 is credited to the trading account, rather than the net amount after fees. The company said refunds are processed automatically or via customer support, depending on the payment method.
The no-fee policy applies across a wide range of funding options. Bank wire transfers in EUR and USD carry a 0% fee, with processing times typically ranging from two to five business days. For deposits over $1,000, FIBO Group compensates bank fees up to $30.
Electronic payment systems such as Neteller, Skrill, TC Pay, and Volet also qualify for full fee reimbursement, with funds usually credited automatically upon receipt. In addition, cryptocurrency deposits made through payment systems like BitPay—covering assets such as Bitcoin, Ethereum, Bitcoin Cash, and XRP—are processed without broker-imposed fees once the transaction is confirmed.
Conditions and limitations
FIBO Group noted that blockchain network fees for cryptocurrency transfers are not covered, as these charges are set by the underlying networks. The broker also reserves the right to deny or revoke compensation in cases of detected abuse related to the promotion.
In line with its financial transaction regulations, clients are required to withdraw funds using the same currency and method by which the account was originally funded.
Founded as a multi-asset brokerage, FIBO Group provides access to forex, CFDs, and investment services, emphasizing transparent pricing and flexible funding options. By absorbing deposit-related costs, the broker aims to remove friction for both new and existing clients.
Read also: FIBO Group launches MT5 Cent account with leverage up to 1:5000
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