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FiboGroup Broker Review

  1. Established in 1998, FIBO (Financial Internet Brokerage Online) Group Ltd was amongst the first companies in the investment services industry to offer marginal internet trading in financial instruments. Currently, FiboGroup provides trading platforms for Forex trading in 42 currency pairs, 20 types of CFDs, Spot Metals as well as 8,000 US Stocks and ETFs through CFDs. The international headquarters of FiboGroup Ltd is registered in the British Virgin Islands, whilst FiboGroup Holdings is registered in the Republic of Cyprus. FiboGroup is licensed and regulated by the UK Financial Services Commission and the Cyprus Securities and Exchange Commission. The FiboGroup website is offered in 7 languages including German, Italian, Spanish, Arabic, and Russian. Notably, customer support is available through Live Chat and telephone, 24 hours a day from Monday to Saturday.

  2. Account Features

    The pip spreads and commission charges at FiboGroup depend on the type of trading account selected by the client. Typically, spreads are tight, starting at 0 pips for major currency pairs. The minimum trading lot is 1,000 units of base currency (0.01 lot) and traders can request leverage up to 1:400 depending on individual country regulations and ceilings.

    FiboGroup Types of Trading Account

    FiboGroup offers four types of live trading accounts, all based on Market Execution Technology. Traders can open one or more accounts depending on their investment preferences. Importantly, they can feel confident of guaranteed execution of limit orders at stated prices. Depending on the account type, maximum leverage for forex trading can be as high as 1:400 with minimum margins set at 0.5% of trading volumes. Notably, FiboGroup offers traders access to 8,000 US stocks and ETFs through CFDs on the Umstel trading platform.

    MT4 NDD (No Dealing Desk) Account

    With a minimum deposit of $300, traders can open an MT4 NDD account using the popular Meta Trader 4 platform. With this commission based account (0.03% per transaction) traders have access to 32 currency pairs with no re-quotes, a minimum spread of 0 pips and leverage up to 1:400. NDD technology allows traders to access high liquidity from the world’s leading banks, thereby executing orders at the best market price. NDD technology together with high execution speeds and low floating spreads, facilitates scalping and may be interesting for intra-day traders investing in volatile forex markets.

    MT4 NDD No-Commission Account

    With a $100 minimum deposit, traders can open an MT4 NDD account with no commission taken on the opening and closing of positions. Traders have access to 32 currency pairs, the NDD technology described above, spreads as low as 0.8 and leverage up to 1:400.

    MT5 NDD Account

    Giving access to the cutting-edge Meta Trader 5 platform, the MT5 NDD account requires a minimum deposit of $500. Meta Trader 5 may be especially interesting to successful traders as it offers an extensive range of high-end analytical tools for evaluating market situations. Significantly, traders interested in automated trading are presented with plentiful opportunities. The MT5 NDD account features 42 currency pairs, floating spreads starting from 0 pips, leverage up to 1:100, deep liquidity from top international banks and ‘no dealing desk’ technology. The stop out level is 100% with commission charged at the rate of $30 per $1 million up to $100 million. From $100 million to $250 million, traders are charged $25 per $1 million. For amounts greater than $250 million, a commission of $20 per $1 million is charged.

    cTrader NDD Account

    Traders opening a cTrader NDD account must deposit a minimum of $100. They are given access to the very popular cTrader platform in 14 languages, for currency trading with No Dealing Desk technology. Suitable for experienced traders as well as those still learning about currency trading, cTrader lets traders trade directly with top international banks without intermediaries. Spreads start from 0 pips and the stop out level is set at 20%, whilst commission is charged at 0.03% per transaction.

    Significantly the cTrader account gives traders access to the cTrader Web, allowing traders to trade on financial markets using a web browser on any type of desk top or mobile device. The cTrader features one click trades, instruments for financial markets analysis as well as the ‘depth of market’ option. To assist traders with a cTrader account, free download of the cAlgo platform is available. The specialist cAlgo platform allows traders to create trading robots and personalised indicators for technical analysis of financial markets.

    FiboGroup Islamic Account

    Followers of the Islamic faith can open an Islamic account at FiboGroup designed to conform with Sharia law. Importantly, the sole difference with non-Islamic accounts is that account holders do not receive interest/bonus on positions held open overnight. The service is only available for MT4 Fixed accounts and account holders are charged a weekly $5 fee per standard lot.

    FiboGroup Demo Accounts

    FiboGroup offers free Demo accounts with virtual currency for every type of account available on the website except the Islamic account. To open a Demo account requires only a name, E-mail address and telephone number. Traders satisfied with their virtual trading experiences on the Demo account can register a live trading account within minutes, from within any of the Demo accounts.

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  5. Trading Software & Assets

    Four trading platforms are available at FiboGroup: Meta Trader 4, Meta Trader 5, cTrader and Myfxbook AutoTrade. Forex and CFD traders using the Meta Trader 4 and Meta Trader 5 platforms, can subscribe to the automated trading operation. With automated trading, clients can perform trades using trading robots, Meta Trader expert advisors or MetaQuotes trading signals. Automated trading allows traders to access a variety of signals, each with detailed history and statistics and copy trades done by experienced traders. Some signals are free of charge while others are payable with weekly or monthly subscriptions.

    Meta Trader 4 platform is one of the favourite platforms for Forex and CDF trading on desktop and as a mobile app for Android and iOS powered devices. The program is user friendly and offers numerous trading tools across multiple windows. Real time financial instruments include news feeds, quotes, three types of charts as well as technical analysis.

    Meta Trader 5 is a multi-linear trading platform developed by MetaQuotes for traders and brokers with increasing trading requirements. The multi-market platform differs from the MT4 platform offering great flexibility and high productivity using a new trading system.

    The cTrader platform is hugely popular with Forex and CFD traders all over the globe. It’s available for free download to desktop computers on the FiboGroup website. Not only does it support 14 languages and NDD (No Dealing Desk) technology, but features fast execution and minimum slippage. Notably, the cTrader platform is integrated with the cAlgo analytical platform and can be accessed from the web browser of any type of internet connected device, in any location using the cTrader Web.

    Myfxbook AutoTrade gives traders the possibility of copying traders real deals on a very convenient auto trading platform. Traders can add, change or delete trading signals, so that trades are executed automatically according to the pre-set signals. Importantly, any of the FiboGroup accounts can be connected to Myfxbook AutoTrade without downloading additional software.

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  7. Support Information

    FiboGroup provides 24/6 live customer support directly on the website through live chat and a telephone number indicated in the top right-hand corner of the home page. A call-back telephone service is available, allowing customers to speak to support specialists free of charge. Additionally, clients can use the various email addresses on the website for written enquiries.

    FiboGroup, offers a range of educational programs for both experienced traders and those in the learning phase in the Group Training Centre. Details of on-site training programs, online programs for self-study and E-courses are available in the ‘Analytics’ section on the FiboGroup website. Market analysis with live charts, an events calendar, long term forecasts and interest rates are also included in ‘Analytics’.

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  9. Banking & Company Information

    FiboGroup offers a broad range of secure payment methods for deposits and withdrawals in multiple currencies. Some payment methods are free of commission, but most include commission payments clearly indicated on the FiboGroup website. Whilst payment methods vary world-wide, clients can choose from many well-known methods including bank wire transfer, Visa, Mastercard, Neteller, Skrill, FasaPay, DIXIPAY, CASHU, QIWI, Baofoo, Western Union and OKPAY e-payment system. We were pleased to see that withdrawal requests are processed quickly and depending on the payment method selected, delivery may be instant or take up to 3 working days. Only withdrawals to RegularPay accounts take 10 working days. Notably, the BITPAY payment system is accepted by FiboGroup for commission-free deposits in the Bitcoin crypto currency.


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    Between 74-89 % of retail investor accounts lose money when trading CFDs
  11. Your capital is at risk