FiboGroup
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| Popularity |  |
| Leverage | 1:400 |
| Minimum Deposit | $50 |
| Regulation | CySEC, FSC |
| Payment Methods | Bank Wire, Credit Card, PayPal, Skrill |
| Trading Assets | Forex, Commodities, Indices, Stocks, Cryptocurrencies |
| MT4 | ✅ |
| MT5 | ✅ |
| Spreads | Low |
| Average cost: EUR/USD | 1.2 pips |
| Demo Account | ✅ |
| Islamic Account | ✅ |
| MAM | ✅ |
| PAMM | ✅ |
| CopyTrading | ✅ |
| ZuluTrade | ✅ |
| Scalping | Yes |
| Signals | ✅ |
| EAs/Robots | Available |
| Negative Balance Protection | Yes |
| Deposit Fee | ❌ |
| Withdrawal Fee | ❌ |
| Inactivity Fee | $10 after 12 months |
| Year Established | 1998 |
| Address | Wipplingerstrasse 34 (office 37), 1010 Vienna, Austria |
| Contact Information | Email: [email protected], Phone: +43 (1) 346 999 90 09 |
| Mobile Trading APP | |
| Rating | ★★★★☆ [4.3] |
| Website |
Pros and Cons
- Wide range of trading assets
- Regulated by reputable bodies
- No deposit or withdrawal fees
- Support for both MT4 and MT5 platforms
- Competitive spreads and low average cost on major pairs
- Inactivity fee after 12 months
- Limited educational resources for beginners
- Scalping and EA/Robot usage might be restricted under certain conditions
- Customer support not available 24/7
- Mobile app features may be limited compared to the desktop platform
Introduction
Choosing the right broker is a crucial decision for any trader or investor.
It’s about finding a reliable partner that offers the tools, resources, and conditions needed to navigate the complex world of financial markets successfully.
Among the myriad of options available, FiboGroup stands out as a broker with a long history and a comprehensive offering that caters to a wide range of trading preferences.
This review aims to provide an in-depth look at what FiboGroup offers, delving into its services, platforms, trading conditions, and more, to help you determine if it’s the right broker for your trading journey.
Open a free accountCompany Profile
History and Background
FiboGroup is a brand name of FIBO Group Holdings Ltd, a company known for its robust presence in the online trading industry.
With roots dating back to 1998, FiboGroup has built a reputation for reliability, transparency, and adherence to regulatory standards.
Over the years, it has expanded its services globally, offering a wide range of financial instruments across multiple asset classes.
Regulatory Compliance and Safety of Funds
One of the critical aspects of a trustworthy broker is its regulatory status.
FiboGroup is regulated by several reputable financial authorities, including the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Commission (FSC) in Mauritius.
These regulatory bodies ensure that the company adheres to strict financial standards and practices, offering traders peace of mind regarding the safety of their funds.
The company implements additional safety measures, such as segregating client funds from its operational funds and participating in investor compensation funds, which further secure traders’ investments in the unlikely event of financial discrepancies.
Account Types
FiboGroup caters to a wide range of traders by offering countless account types, each designed to meet the specific needs and strategies of different traders.
From beginners to seasoned professionals, there’s an account type for everyone.
Here’s a brief overview of the main account types provided:
- MT4 Cent Account: Ideal for beginners, offering micro-lots and low deposit requirements.
- MT4 Standard Account: Best suited for experienced traders, featuring standard lot sizes and competitive spreads.
- MT4 NDD Account: No Dealing Desk account for traders looking for direct market access and faster execution.
- MT5 NDD Account: Similar to the MT4 NDD but on the more advanced MT5 platform, offering access to a wider range of trading instruments.
- cTrader NDD Account: Aimed at scalpers and day traders, this account uses the cTrader platform for ultra-fast execution and minimal spreads.
Comparative Table of Account Features
|
Account Type |
Minimum Deposit |
Spread |
Commission |
Platform |
|
MT4 Cent |
$50 |
From 0.6 pips |
No |
MT4 |
|
MT4 Standard |
$50 |
From 0.3 pips |
No |
MT4 |
|
MT4 NDD |
$100 |
From 0 pips |
Yes |
MT4 |
|
MT5 NDD |
$100 |
From 0 pips |
Yes |
MT5 |
|
cTrader NDD |
$100 |
From -0.2 pips |
Yes |
cTrader |
Trading Platforms
A crucial aspect of online trading is the platform through which you execute your trades.
FiboGroup understands this and offers a selection of the industry’s leading platforms.
Overview of Platforms
- MetaTrader 4 (MT4): The most widely used trading platform in the forex market, known for its user-friendly interface, robust charting tools, and extensive array of indicators.
- MetaTrader 5 (MT5): An advanced platform that builds on MT4’s success, offering additional timeframes, more technical indicators, and improved trading functions.
- cTrader: A platform designed for scalpers and day traders, focusing on rapid execution speeds and advanced order types.
Unique Features and Usability
Each platform has its unique features and advantages:
- MT4: Best for beginners due to its ease of use and vast online community.
- MT5: Ideal for traders looking for advanced technical analysis tools and the ability to trade stocks and futures.
- cTrader: Offers Level II pricing, detachable charts, and the fastest execution speeds for experienced traders.
Trading Instruments
FiboGroup provides access to a wide variety of financial instruments across several markets, ensuring that traders have a broad spectrum of opportunities for diversification and strategy implementation.
Range of Available Instruments
- Forex: Over 60 currency pairs, including major, minor, and exotic pairs.
- Stocks: Access to global stock markets with hundreds of stocks.
- Commodities: Trade on gold, silver, oil, and other popular commodities.
- Indices: A selection of the world’s leading indices, such as the S&P 500 and DAX.
- Cryptocurrencies: More than 35 cryptocurrencies for trading, including Bitcoin, Ethereum, and Litecoin.
Comparison with Industry Standards
Their range of trading instruments is on par with, if not superior to, what many other brokers offer.
This diversity allows traders to explore different markets and apply various trading strategies effectively.
Spreads, Fees, and Leverage
Understanding the costs associated with trading is crucial for every trader.
FiboGroup offers competitive spreads, reasonable fees, and flexible leverage, making it an attractive option for traders of all levels.
Detailed Explanation of Spreads and Fees
- Spreads: FiboGroup offers both fixed and variable spreads, starting as low as 0 pips on NDD accounts. The spread varies depending on the account type and market conditions.
- Commission Fees: NDD accounts are subject to commission fees, which are transparently listed on the broker’s website. These fees are competitive within the industry.
- Overnight Fees: Traders holding positions overnight should consider swap fees, which can be found detailed on the broker’s platform.
- No Hidden Fees: The company prides itself on transparency, ensuring traders are not surprised by hidden charges.
Leverage Options
Leverage allows traders to open positions larger than their capital would permit, increasing the potential for profit (and loss).
FiboGroup offers leverage up to 1:400, although the available leverage may vary depending on the instrument being traded and regulatory requirements.
Traders are encouraged to use leverage cautiously, considering the increased risk it entails.
Table Summarizing Key Financial Terms
|
Feature |
Description |
|
Spreads |
From 0 pips (depending on account type) |
|
Commission |
Yes (for NDD accounts), detailed on the website |
|
Leverage |
Up to 1:400 |
|
Swap Fees |
Applicable for overnight positions |
Deposits and Withdrawals
Efficient handling of deposits and withdrawals is a hallmark of a good broker.
FiboGroup simplifies the funding and withdrawal process, offering various methods and striving to process transactions swiftly.
Available Methods
- Bank Wire Transfer: Traditional and reliable method for both deposits and withdrawals.
- Credit/Debit Cards: Visa, MasterCard, and other major cards are accepted.
- Electronic Wallets: Includes options like PayPal, Skrill, and Neteller, among others.
- Cryptocurrencies: Some accounts may deposit and withdraw in cryptocurrencies.
Processing Times and Fees
- Deposits: Most are processed instantly, especially for electronic wallets and credit/debit cards. Bank wires may take several business days.
- Withdrawals: FiboGroup aims to process withdrawals within 1 business day, though the receiving bank or wallet may add additional processing time.
- Fees: They do not charge fees for deposits. Withdrawal fees are minimal and transparently listed on their website.
Customer Support
The quality of customer support can significantly impact a trader’s experience.
The broker offers comprehensive support options to address any issues or questions that may arise.
Availability and Languages
- 24/5 Support: Available Monday through Friday, reflecting the forex market’s operating hours.
- Multilingual Support: Services are offered in more than 10 languages, accommodating a global clientele.
Quality of Support Based on User Feedback
- Responsive: Users frequently commend it for quick response times to inquiries and issues.
- Knowledgeable: The support team is well-versed in the intricacies of forex trading and the specific features of FiboGroup’s offerings.
- Helpful Resources: Besides direct support, the broker provides extensive FAQs, guides, and educational resources to help traders self-serve common questions and issues.
Educational Resources
A broker that invests in educating its traders is one that supports their growth and success.
FiboGroup offers a range of educational materials designed to enhance the trading skills of both beginners and experienced traders.
Overview of Available Materials
- Webinars: Live sessions covering various trading topics, market analysis, and strategy development, allowing participants to interact directly with experienced traders and analysts.
- E-books: A collection of electronic books covering the basics of forex trading, technical and fundamental analysis, and advanced trading strategies.
- Video Tutorials: Step-by-step guides on using their platforms, as well as educational videos on trading concepts and tools.
- Articles and Analysis: Regularly updated market analysis and insightful articles that help traders stay informed about the latest market trends and economic events.
Assessment of the Quality and Usefulness
The quality of FiboGroup’s educational content is high, offering valuable insights and information suitable for various experience levels.
The blend of formats caters to different learning preferences, ensuring that every trader can find resources that resonate with their style.
Trading Tools and Resources
Beyond the basic trading platform features, FiboGroup provides additional tools and resources to aid traders in making informed decisions.
Analysis Tools
- Economic Calendar: Keeps traders informed about upcoming economic events that could impact market conditions.
- Trading Calculators: Tools to calculate margin, pip value, and swaps, assisting traders in managing their risk and planning their trades.
- Technical Analysis Tools: Advanced charting tools and indicators available on MT4 and MT5 platforms, supplemented by third-party analysis software compatibility.
Additional Trading Resources Offered by FiboGroup
- Market News and Updates: Timely news feed and updates to keep traders abreast of market-moving news.
- Social Trading: Features allowing traders to copy the trades of experienced traders directly, beneficial for beginners and those looking to diversify their strategies.
Mobile Trading
In today’s fast-paced world, the ability to trade on the go is crucial.
FiboGroup’s mobile trading apps ensure traders never miss an opportunity, regardless of where they are.
Features of Mobile Apps
- Full Trading Functionality: Place and manage trades, view live prices, and utilize technical analysis tools directly from your mobile device.
- Real-time Notifications: Alerts on price movements, news, and account changes, helping traders stay informed anytime, anywhere.
- User-friendly Interface: Designed for a seamless mobile experience, making it easy to navigate and trade effectively on smaller screens.
Comparison with Desktop Platforms
While the mobile apps offer convenience and flexibility, they might have limitations in terms of advanced charting and analysis capabilities compared to the desktop versions of MT4 and MT5.
However, for most traders, the mobile app provides all the necessary functionalities for effective trading and account management.
Conclusion
FiboGroup has established itself as a reputable and reliable broker, catering to traders of all experience levels across the globe.
With its wide range of account types, competitive trading conditions, comprehensive educational materials, and robust trading platforms, FiboGroup offers a compelling choice for those seeking a well-rounded trading experience.
The broker’s commitment to transparency, regulatory compliance, and customer support further enhances its appeal, making it a worthy consideration for anyone looking to navigate the forex and CFD markets.
It combines the elements of reliability, functionality, and support, making it a broker that not only meets but exceeds trader expectations.
Whether you’re a novice trader embarking on your trading journey or an experienced investor looking for a dependable trading partner, FiboGroup is equipped to support your trading ambitions.
Visit official website www.fibogroup.comUser Reviews
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Frequently Asked Questions (FAQ)
What is the minimum deposit?
The minimum deposit is $50, making it accessible for traders of all levels.
Are there any fees for depositing or withdrawing funds?
No, FiboGroup does not charge any fees for deposits or withdrawals, though your payment provider may have its own fees.
Is it regulated?
Yes, FiboGroup is regulated by CySEC and FSC, ensuring a high standard of security and fairness.
Can I trade cryptocurrencies?
Yes, FiboGroup offers trading in cryptocurrencies alongside forex, commodities, indices, and stocks.
Does FiboGroup offer a demo account?
Yes, they offer a demo account for new traders to practice trading strategies without any risk.
Is mobile trading available?
Yes, FiboGroup provides mobile trading apps for both iOS and Android devices, allowing you to trade on the go.
What platforms does FiboGroup support?
It supports the popular MT4 and MT5 trading platforms, known for their robustness and wide range of features.
Resources
Our experts
This article has been written, edited and reviewed by the following members of our team:
Feng Zhou
Feng Zhou, a seasoned author and financial expert, boasts a diverse portfolio of articles recognized by prestigious publications such as Bloomberg, Global Asia, and BizLeaders. Graduating from the University of Hong Kong marked the inception of Mr. Zhou's journey into the financial sector. Initially delving into financial statement audits for both publicly traded and privately held clients, he honed his skills before furthering his education at Hong Kong Polytechnic University. During his tenure, Feng Zhou contributed significantly to the valuation of privately held businesses, engaged in forensic accounting, and provided litigation-related services. His professional trajectory also includes valuable experience at Nezu Asia Capital Management, a prominent hedge fund giant. Demonstrating entrepreneurial spirit, Feng Zhou founded a financial asset management company and frequently shares his expertise as a guest lecturer at various Chinese MBA programs. His prolific writing extends beyond traditional platforms, with articles featured in a range of industry events and publications, including FoxTrade, The MoneyShow, London Summit, and iFX EXPO. With a keen eye for market trends and a wealth of experience, Feng Zhou continues to be a prominent voice in the financial landscape.
Sandro Pontedra
Sandro Pontedra is the mastermind behind the insightful financial analysis and educational content that FoxTrade readers have come to rely on. With a rich academic background from Università di Bologna and the University of Milan, Sandro has built a career that spans across private wealth management and financial analysis, culminating in his role as Chief Accounting Officer for a prominent firm. An avid trader with over a decade of experience in the markets, Sandro combines his hands-on trading knowledge with a keen analytical mind, offering FoxTrade readers a unique blend of practical advice and in-depth market insights. His work, recognized by major financial publications, reflects his passion for finance and commitment to demystifying complex financial concepts. Sandro is dedicated to empowering readers with the knowledge and tools needed to navigate the financial markets confidently. Whether you're a seasoned investor or new to trading, his articles provide valuable insights into investment strategies, market analysis, and the future of finance and technology.
Stephane Dubois
Stephane Dubois stands at the forefront of financial analysis and industry expertise, driving innovation and insight across global markets. With a diverse academic background in International Relations and World Economy, coupled with practical experience spanning government projects and private sector endeavors across five continents, Stephane brings a wealth of knowledge and perspective to his role. As a senior editor at FoxTrade, Stephane oversees the publication of insightful content, ensuring that readers receive accurate and timely analysis to navigate the complexities of the financial world. His leadership and editorial guidance have been instrumental in shaping the platform into a trusted source of information for investors and traders alike. Beyond his editorial responsibilities, Stephane is revered as a leading analyst in the online broker industry. His insights have been instrumental in shaping strategies and decision-making for executives worldwide. Stephane's expertise isn't confined to the boardroom; he is also an esteemed business school professor, with an MBA from Columbia University and prior experience at Goldman Sachs. Stephane's impact extends beyond the confines of academia and corporate settings. He has spoken and moderated panels at prestigious events globally, earning citations from esteemed publications such as Finance Monthly, The Journal of Finance, and Financial Analysts Journal. His contributions to industry discussions cover a wide array of topics, from forex strategies to stock market catalysts, earning him recognition as a thought leader in the financial world.
Last update: April 27, 2024