Forex Broker Reviews

Comprehensive Review | FIBOGROUP

Fibo Group history and back ground

Fibo Group is an online Forex and CFD’S broker operating a NDD (No Dealing Desk) model. The company was founded in 1998 as Financial International Brokerage Online Group, making it one of the oldest players in marginal internet trading. They are registered as a Cyprus Investment Firm (CIF) and licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).

Fibo Group Ltd currently maintains offices in Vienna, Limassol, Singapore, Moscow, Munich, Keiv and Astana. They provide a trading platform that offers a wide range of assets for trading in spot metals, ETFs, indices and individual stocks.

Product Features

Fibo Group aims to provide suitable accounts for traders at all levels of experience. Unlike many new brokers, Fibo provides a selection of premium tech trading platforms: MT4, MT5 and cTrader. The Metatrader 4 account offers two options: commission-free trading and tight spreads with a cost of $3 per standard lot. The cTrader platform is compatible with a special feature known as cAlgo. This special feature allows traders to create trading robots and their own personal indicators for technical analysis using C# language. In addition, the cMirror add-on allows an easy compatibility with mirror trading either as a provider or subscriber. Facilities like PAMM, Automated Trading, Asset management are all available for traders.

Account types and leverage

Traders can choose up to six different account types. The MT4 cent account requires no minimum deposit with its maximum leverage capped at 1:1000 and floating spreads starting from 0.6 pips. The MT4 fixed account requires a minimum deposit of $300 and allows trading with fixed spreads starting at a minimum of 2 pips, the maximum leverage offered for this account is 200 to 1, this account type is ideal for manual trading with fixed spreads. The MT4 floating account requires a minimum deposit of $300 and allows trading with variable spreads starting from 0.8 pips and a maximum of 200 to 1 leverage. The MT4 NDD account requires a minimum deposit of $300 and allows trading with floating spreads directly from liquidity providers. The maximum leverage of 400 to 1 is available for this account. The cTrader NDD offers the same with MT4 NDD, they differ only by the maximum of 100 to 1 leverage applied of cTrader accounts.

Deposits and Withdrawals

Depositing funds into a live Fibo Group account is a fast and safe process. There is a wide range of payment options traders can choose from: credit cards, skrill, cashU, WebMoney, Neteller and wire transfer. Withdrawals are processed through these payment systems with a requirement for first withdraws to be processed through the same payment system used during the first deposit.

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Safety of Funds

Fibo Group successfully maintains a minimum of $1 000 000 as financial proof of stability. They maintain financial stability to keep their license agreement with CySEC. Further more CySEC applies a scheme as an insurance for clients funds. Fibo Group is also a member of the Investor Compensation Fund which guarantees clients a compensation capped at $20 000 per client in rare events of broker insolvency.

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In summary

Fibo Group is a legitimate and serious Forex Broker. The companies past and its partners does not reflect any illegal operations such as false claims for aggressive advertising, after all they are the oldest players in practicing quality service. Fibo Group is ideal for traders who demand unquestionable service.

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