- Is FIBO group safe or a scam?
- Trading Platform
- Deposits and Withdrawals conditions with a minimum deposit and withdrawal fee
What is FIBO Group?
International Financial Holding FIBO Group (Financial Intermarket Brokerage Online Group) is one of the oldest players in internet trading, with its history started back in 1998. From the first day of work, the broker always adheres to the principles of transparent activities, with the protection of the interests strict compliance to observe laws.
FIBO Group Company was established in the BVI and still headquarters there, however broker enhanced its offering through an additional entity located in Cyprus with respected European regulatory authorization and the possibility to invest safely. Moreover, FIBO Group world coverage includes high-quality support established through Vienna, Limassol, Shanghai, Singapore, Munich, Kiev and Astana offices.
The trading product range includes offering to the retail clients or Money Managers as well as Investor programs through PAMM service. Forex trading through FIBO Group represents 60 currency pairs, including cryptocurrencies, with high leverage possibilities and low spreads through NDD Execution model, and CFD with no swaps 0% commissions through the reasonable fixed spread.
Generally speaking, FIBO Companies of the holding for the years of operation won numerous awards for their excellent customer service and Brokerage firm achievements, along with thousands of satisfied clients they serve around the world.
Is FIBO Group safe or a scam?
FONTEN CORPORATION LIMITED is registered Financial Services and activity firm and is the company of FIBO Group, Ltd. regulated by the Financial Services Commission, British Virgin Islands. In fact, BVI is offshore with fairly low regulatory requirements and standards towards financial firms.
However, additional entity FIBO Group Holdings, Ltd is a Company established in the Republic of Cyprus, which was licensed by the Cyprus Securities and Exchange Commission (CySEC) to provide its services to EU residents and further.
Therefore, according to the European regulation which goes in parallel with offshore registration of FIBO Group, we can conclude the broker as a safe choice to invest.
The broker provides the provision of investment services and secure trading along with professional indemnity insurance, and in addition is a member of the Investor Compensation Fund (ICF). The customers and partners can be assured that all services, provided by any of the companies within the FIBO holding Group, meets the highest international standards and are under the control of national regulators.
Since the choice of the platform stands on the paramount priority, the clients of FIBO Group can enjoy the most popular and one of the most industry powerful platforms MetaTrader4. The platform is also available through MT4 WebTerminal as an easy feature which does not require a download and compatible with any operating system, also is suitable for Windows, iOS and Android devices by its mobile application.
Together with its comprehensive built-in technical indicators, all types of trading orders and instant execution, MT4 also allows automated trading opportunity through its known EAs or Expert Advisors with no limitations. You may simply choose from a variety of EAs or even to create your own one with MQL4 editor.
In addition, AutoTrade or a social trade platform myfxbook as a reliable way to copy deals from the successful traders to your account is generously available at FIBO platform too. This platform is a great feature for beginning traders, as well as professionals who would like to earn followers.
Another access offered by FIBO Group is designed for Money Managers or Professionals that may deploy their trading opportunity by vast powerful instruments bringing investment to a different, highly responsible and powerful feature.
There are two account types designed by FIBO group, so you may choose between MT4 NDD Account or MT4 NDD No Commission Account. While the first account offers competitive variable spread from 0 pips you will need to pay commission per transaction, making it a great account type for various trading techniques.
And the second account NDD No Commission designed with a fixed spread from 0.8 pips and is amazing for beginning traders or those strategies that require the strict calculation of a spread under any market conditions.
Moreover, the Islamic or Swap free accounts are available for those who follow Sharia rules and featured with no overnight fees and high leverage options.
The FIBO Group spread varies between the two offered account types, while there is an option to trade either with fixed spread and no commission or with variable spreads and 0.003% commission from the transaction. It is actually, a fantastic option, as allows you to choose the best option according to the trading strategy you deploy and see what is best for you.
Also, you should always consider an overnight fee or rollover as a trading cost. It is charged on the positions held longer than a day, as example EUR/USD rollover is around -1.38 for long positions and 0.68 for short. Also, you may see a sample of FIBO spreads below as well check out another broker KAB.
While trading with FIBO Group you are offered to use leverage, or a loan is taken from the broker with a purpose to increase your trading size. Leverage brings vast capabilities and the possibility of higher gains, in case you use tools smartly and do not involve yourself in high risks.
Besides, the leverage levels are also determined by the regulatory restrictions, alike trading with European entity of FIBO Group you will automatically fall under ESMA regulation, which lower allowed leverage to a maximum of 1:30 for Major Currency pairs and even 1:10 for Commodities. However, the global FIBO group allows accessing the highest possible leverage up to 1:1000, which is a fantastically high level you should definitely be careful with.
FIBO Group included flexible deposit or withdrawal options to their offering too, which allows secure and reliable transactions of funds. The payment methods including Bank Wire Transfers, Card Payments, as well as Payment Systems and Online Payments through Bitpay or Blockchain, Neteller, Skrill, Qiwi, CashU, fasapay, DixiPay, PaytoDay and ecoPayz, etc.
Yet, make sure to check with the support service which payment method available according to the entity you trade with, as well to your residence.
Also, you should note that depending on the conditions and method of payment you use, there are some fees may be waived. Typically fees are none, but some options range from 35-50$ per transfer.
And the last untouched point is a minimum deposit requirement. There is an option to start trading with only 100$, which allows to access NDD No Commission account and start trading. While NDD Account requires 300$ at the beginning.
FIBO Group review overall shows the brokerage company that spreads its services within all major markets, Europe, Asia, MENA and CIS regions, while bringing a range of services and trading instruments to choose from. Due to global coverage, the company provides also a variety of technologies and solutions to use, suitable for almost every trading need.
Either there is a need of seamless execution with no interventions, a choice between strategies built on a fixed spread or variable one, a necessity to use high leverage, competitive trading conditions or even Social trading capabilities it’s all available in FIBO Group.
Nevertheless, it would be good to know your personal opinion about FIBO Group, you may share your experience in the comment area below, or ask us for some additional information.
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