Fibogroup Review

Date: December 06, 2019 By: Gemma Heath in Forex Education

Overall, these non-trading fees are some of the highest in the industry. British traders will be trading under the FIBO Group entity regulated by the Cyprus Securities and Exchange Commission . Another unique feature of FIBO Group is the chance for you to join the Trading Idea community.

Does FBS require proof of residence?

You will also need to verify your bank card and prove your residence. To verify that you are the owner of the bank card, we need you to confirm its details. Click on the bank card verification. Upload both sides of your bank card.

However, it offers PAMM accounts, and automated trading solutions. FIBO Group charges a commission on most deposit and withdrawal methods , in addition to inactivity fees. For example, a fee of 2.5%+1.5 EUR applies to withdrawals by credit card or debit card. FIBO Group also charges an inactivity fee of 5 USD per month after 91 days of account dormancy. Spreads and commissions are payable on all trading accounts apart from the MT4 NDD no commission account.

Withdrawal Methods & Costs

Forex traders can select their method of payment, insert the amount they wish to withdraw, their currency, and proceed to the relevant prompts to confirm and process their withdrawal. Forex traders can log into their client area and select the option to withdraw from the account interface. The MT5 NDD Account is designed specifically for use on the MetaTrader 5 trading platform that incorporates the advantages of MetaTrader 4 with intraday scalping capabilities and EU automated trading. Online support is offered through a live chat function that is present on the FIBO Group website and which is available 24 hours a day, 5 days a week. According to a Forex Suggest review on FIBO Group, in terms of security, trading speed, online support, and for cryptocurrencies, FIBO Group is a good broker. No, FIBO Group does not have a forex traders dashboard on the official website.

These types of accounts have deep liquidity with top banks, offer no re-quotes and feature instant market execution. There are extensive analytical capabilities such as charting, graphs and other fundamental analysis. Deposit Methods Forex Deposit Methods Discover which deposit methods smart forex Fibonacci Forex Trading traders use to make deposits and withdrawals in their accounts. FIBO Group offers various types of accounts which depend on the client’s capital, experience and preferences. Only one MT5 and cTrader account types are available while the remaining account types are for the MT4 trading platform.

How Much Does Fibo Group Charge To Trade 1 Lot Of Eur

It provides forex traders with an in-depth view of announcements and other economic information that is scheduled to be released. Events such as these could impact financial markets and subsequently, the trades of forex traders. Swap fees are either credited or debited depending on whether the trader holds a long or short overnight position on a financial instrument. Margin requirements consist of a specific amount, expressed as a percentage, that forex traders must cover at the start of the trade as collateral for the trade.

This broker actually offers demo accounts that mimic all six of their specific account types. Since the demo account options are so realistic, this could be an excellent way to choose an account type if you can’t make up your mind. Even if you already have an account type in mind, this is a great way for inexperienced traders to practice without risking real funds.

Fibo Group Accounts Fees

The table below compares the costs of trading one lot of EUR/USD with Fibo Group to similar brokers. Unfortunately, there are no fee free options, so you’ll want to compare the methods below to choose a suitable withdrawal method. Available deposit methods include bank wire, Credit/Debit card, PaySafeCard, BitPay, Neteller, WebMoney, RegularPay, Bitcoin, Skrill, CashU, FasaPay, DixiPay, and Payz.

Is FBS legit in Philippines?


With over 20 years experience and multiple awards, FIBO Group is certainly an established online broker in the forex and CFD trading industry. They are regulated by CySEC and FSC BVI. The broker affirms that it is compliant with all the rules of engagement as enumerated by the regulators. As directed by the regulatory authorities, all clients’ funds are held in segregated accounts.

Offers Demo Account

Overall, FIBO Group’s account-opening process is fully digital and hassle-free and accounts are ready for trading immediately. FIBO Group’s registration form requires traders to fill in their personal details, including physical address, date of birth, and ID number. The account-opening and verification process at FIBO Group is seamless, fully digital and accounts are ready for trading immediately. Overall, FIBO Group’s trading costs are around the industry average.

MetaTrader 4 offers a large range of instruments as well as indicators for technical analysis, a comprehensive news feed, online quotes in real-time, and charting capabilities. Fibo Group actually offers several different account types, which provides traders with a diverse selection. All account types offer high leverages and share the same minimum trade sizes, but maximum trade sizes and stop loss levels differ. Spreads start at 0 pips for three account types and there are also three commission free options. MAMM accounts are offered for the MT4 Fixed and MT4 NDD regular and commission free account types.

Supported Platforms For Fibo Group

Signing up for a compensatory scheme that will come along to refund clients’ funds in case of liquidation of the company’s assets. We are a team of professionals with over 10 years of experience, dedicated to provide Forex traders with MT4 Indicators, Trading Systems and eBooks. According to its FSC license, the broker can trade globally as long as it complies with the country’s trading regime. The company is one of the oldest companies in the world of online trading. According to the official FIBO Group website, the broker does not currently run any contests. There is no indication of whether FIBO Group has offered such contests in the past or whether it may be in development for the future.

How do I trade NASDAQ with FBS?

Click the ‘Open account’ button on our website and proceed to the Personal Area. Before you can start trading, pass a profile verification. Confirm your email and phone number, get your ID verified. This procedure guarantees the safety of your funds and identity.

This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering.

Fibo Group Trading Platform

FIBO Group have enjoyed a good reputation over the years and the fact you can open various demo accounts means you can try everything before risking your own money. There are a good range of trading products available making it possible for most traders to find something to suit them. Up-to-date market analysis is provided on current market conditions and events which are dominant fundamental and sentimental factors. The website includes a section on Long-Term Forecasts, which at the time of this review was empty.

  • Once a forex trader meets the conditions above, they can register a forex trading account to use the services of FIBO Group.
  • If you have any questions that haven’t been answered, you can also reach out to support 24 hours a day via LiveChat, phone, or email.
  • MetaTrader 5 – this is the upgraded version of MetaTrader 4, and it features all trading functionality in one trading platform.
  • When making this calculation, we used one lot of EUR/USD as a benchmark as it is the most commonly traded currency pair and it usually has the tightest spread.
  • On their website, Fibo group states that they do not provide service to residents of Australia, Austria, Belgium, Great Britain, Iraq, North Korea, and the USA.

While most of the facts have been positive so far, we do want to get into the biggest drawback to choosing this broker, which would be the withdrawal process. There are several methods to choose from, but none of these methods are fee free. Although some of the methods do come with low fees, some popular methods, like bank wire and credit/debit cards come with fees that are a bit high. Also, deposits take longer to process than with other brokers. Some are available within one business day, but others can take up to a week to be received.

The broker uses the Market Maker brokerage model on ‘fixed spread MT4’ accounts. It also offers the Non Dealing Desk style of execution on the other platforms and account types. Unlike other brokers that offer a range of accounts with higher minimum deposits linked to tighter spreads, FIBO Group offers only two account types on the MT4 platform. The best spreads are reserved for the MT4 NDD, cTrader, and MT5 account types, all of which have spreads starting from 0 pips. You can’t do better than this, so these account types are attractive in that regard. The minimum spread on the MT4 Cent account is 0.6 pips, while the minimum is 0.8 pips on the MT$ NDD commission free account.

The maximum trade sizes differ based on account type and asset specifications. While all accounts share the same minimum trade sizes, you’ll also find that there are two separate stop out levels. The Deposit Options include electronic payment systems, bank cards and, bank wire transfer. Bank deposit fees typically range between $35 and $50 with a processing time of 2 – 5 days. With credit cards, there are no commissions and deposits are typically received within several hours.

Does FBS offer Nasdaq?

With FBS, you can trade the futures of NASDAQ and S&P 500.

FIBOGroup is a well-established brokerage firm, was established in 1998. The broker headquarter is located in Austria and have multiple office locations in different countries. You’ll also need to answer a few basic compliance questions to prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure. Fibo Group supports a wide range of languages including English, French, German, Chinese, Farsi, Spanish, Indonesian and Russian. As an added benefit, Fibo Group is one of the few brokers who claim no requotes, so you won’t have to worry about slippage . They also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

Its nearly two-decade stay in the business has given it the necessary skills to take the forex sector by storm. This is a very credible trader that I would strongly recommend to anyone more so those who want to trade professionally.