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.
