FIBO Group Review: Is this broker legit, safe and trustworthy for UAE citizens and residents?
One of the most established companies in the field of marginal online trading is known as the International Financial Holding FIBO Group (Financial Intermarket Brokerage Online Group). 1998 marked the beginning of operations for the holding's pioneering enterprise. We have always adhered, from the very first day of our activity, to the principles of transparent actions, to defend the interests of consumers, and to ensure strict compliance with observance of applicable laws and regulations of national regulators. All of the services that are offered by any of the companies that are part of the FIBO Group holding may reassure our clients and business partners that they are held to the highest international standards and that they are regulated by the appropriate national authorities.
The multinational financial and investment holding company FIBO Group includes
the FIBO Group Forex Broker as one of its subsidiaries (Financial Intermarket
Brokerage Online Group). On today's modern financial markets, Fibo Group Broker
is one of the major and oldest companies in the field of providing services and
products related to online marginal trading. Forex clients of the Fibo group,
both private and institutional, can be assured that all products offered by any
of the subsidiary companies within the forex trading group meet the highest
industry standards and are regulated by national reputable financial
authorities. This is something that clients of the forex trading group can take
comfort in knowing.
Trading in forex and CFDs is made available by the Fibo Group, which offers
advantageous trading circumstances. In order to enhance the quality of the
services that are provided, the staff at Fibo Group continually assesses the
requirements of each trader. Therefore, using Fibonacci in forex trading will
almost certainly result in success and profits. A trader may more easily collect
all of the market data that is essential for trading with the assistance of
various instruments, such as currency calculators and daily market evaluations.
Reviews of Fibo Group that can be found on a variety of topical forums provide
evidence that the broker is in high demand among members of the community of
international currency traders.
FIBO Group has been active in margin markets for over 20 years, and during that time it has developed the ideal mix of trading accounts and trading circumstances to satisfy the requirements of traders in the most efficient manner. Low spreads beginning at 0 pips for the main instruments, and 41 currency pairings to choose from. Streaming currency rates and technology called Instant Execution (on MT4 NDD and cTrader NDD accounts Market Execution technology is applied). Execution of limit orders, stop losses (S/L), and take profits (T/P) at the price mentioned is guaranteed. The minimum lot size is one thousand of the base currency (0.01 of a standard lot). The minimum deposit required is either 0 USD or an amount that is equal in another currency. Leverage: lowest – 1:1, maximum 1:1000 (minimum margin is 0.1 percent of the trade volume). On an MT4 NDD account, the leverage is 1:400. In the event that you roll over your position to the day after the market opens, the settlement date will shift without your intervention. Calculations of swaps are made in pips and based on LIBOR rates. These pips are then translated into the account currency using the exchange rates that are in effect at 00.00 server time and credited to your trading account.
The minimum quantity of a contract for gold is 100 ounces, whereas the minimum quantity for silver is 5000 ounces. The price of gold and silver is displayed in both US Dollars and Euros. You can tell just by looking at the names of the agreements. These days, the cost of gold and silver is often expressed in US Dollars and Euros. The leverage ranges anywhere from 1 to 1 thousand. You are able to open long (buy) positions as well as short (sell) ones. Keep in mind, however, that a swap or rollover charge will be incurred if you decide to carry over your position to the next day. The swap rate might change based on both the asset and the position of the trader (long or short).
In 1998, the first Fibogroup holding company was established, marking over 20 years since the business's inception. Since the very beginning of the operation of the Fibo Group, the broker's team has always adhered to the principles of highly transparent conditions and services, protecting the interests of customers, and fully complying with the applicable industry requirements and recommendations of national regulators. These principles have been in place since the very beginning of the operation of the Fibo Group.
All foreign exchange customers of the Fibo Group, including private individuals and large institutions, are offered a guarantee that all products sold by subsidiaries of the company's foreign exchange trading group are compliant with the highest industry standards and are supervised by appropriate governing bodies. Trading in forex and CFDs is available through Fibo Group, which offers favorable trading circumstances.
The
requirements of each trader are always being assessed by the Fibo Group team in
order to enhance the quality of the services that are offered. Trading in forex
using Fibo levels is therefore certain to be both effective and lucrative. A
trader may obtain all of the market data that is necessary for trading with the
assistance of various tools. Some examples of these tools are currency
calculators and daily market evaluations. The trading community appears to have
a significant need for the broker, according to assessments of Fibo Group.
The FIBO Group Company was established in the British Virgin Islands (BVI), and its headquarters are still located there. However, the broker has improved its offering thanks to another entity located in Cyprus, which includes renowned European regulatory authorization and the opportunity to invest in a risk-free manner. Additionally, FIBO's global presence includes high-quality help from its offices in Vienna, Limassol, Shanghai, Singapore, Zurich, Kiev, and Astana.
Is it safe to invest in FIBO Group, or is it a scam? FIBO Group, Ltd., which is
in turn overseen by the Financial Services Commission, British Virgin Islands,
is the parent company of FONTEN CORPORATION LIMITED, which is a licensed
financial services and commercial entity. FONTEN CORPORATION LIMITED is a
subsidiary of FIBO Group, Ltd. In point of fact, the BVI is considered an
offshore jurisdiction that has comparatively lax regulatory rules and standards
for financial companies.
Despite this, the extra entity known as FIBO Group Holdings, Ltd is a
corporation that is incorporated in the Republic of Cyprus and has been granted
permission by the Cyprus Securities and Exchange Commission (CySEC) to offer its
services to nationals of the EU as well as other individuals.
It is in accordance with European Regulation, which, in conjunction with the
offshore registration of the FIBO Group, makes the broker an attractive and
risk-free investment opportunity.
The FIBO Group review reveals, in its entirety, that the company distributes its
services across all of the major markets, including Europe, Asia, the Middle
East and North Africa (MENA), and the Commonwealth of Independent States (CIS),
while also providing a diverse selection of trading instruments and services.
Because it operates on a worldwide scale, the firm offers a wide range of
technologies and solutions that are designed to meet the majority of the
requirements imposed by trade.
In addition to this, they provide execution that is uninterrupted and flawless,
the choice between strategies that are based on a fixed spread or a variable
one, the requirement to employ a large leverage, competitive trading conditions,
and the ability to engage in social trading.
FIBO Group is an online brokerage that offers Foreign Exchange (Forex) and
Contracts for Difference (CFDs) for online trading. They are licensed and
provide a variety of account kinds in addition to trading platforms that are
adaptable (MT4, MT5, and cTrader). However, the broker does not provide traders
with any training resources and does not provide a diverse selection of trading
products to choose from.
FIBO Group, also known as Financial Intermarket Brokerage Online, is a global FX
and CFD broker that provides clients with competitive trading conditions as well
as a variety of online trading services. FIBO Group was established in 1998, and
its headquarters can be found in Cyprus. However, the company also has offices
in Austria, Kazakhstan, Germany, and China. The website of the FIBO Group is
available in a total of 14 different languages.
The FIBO Group makes the following asset classes available for trading on the
MT4, MT5, and cTrader platforms: cryptocurrencies, metals, commodities, and
indices. The 'fixed spread MT4' accounts are managed by the broker utilizing the
Market Maker brokerage model. In addition to that, it provides the Non Dealing
Desk (NDD) style of execution for all of the other account types and platforms.
The FIBO Group provides clients with competitive fee rates, low spreads that
begin at 0 pip increments, cutting-edge technical solutions, and sophisticated
trading platforms. Note that there will be a markup applied to fixed spread
accounts; this is important information to keep in mind. It is acceptable to
engage in any trading strategy, including scalping, hedging, and the use of
automated trading robots.
Multiple accolades in this sector have been bestowed to FIBO Group in
recognition of its superior brokerage services. Awards such as these include
"Best Standard Forex Broker," "Best Forex Broker in Europe," and "Best PAMM
service broker." These three prizes were all bestowed to the recipients in 2016
at the conclusion of the "Moscow Financial Expo."
The Cyprus Securities and Exchange Commission (CySEC) has issued a license to
FIBO Group Holdings Ltd with the number 118/10, therefore authorizing and
regulating the company. The Markets in Financial Instruments Directive (MiFID)
of the European Union is adhered to by the Cypriot Securities and Exchange
Commission (CySEC)-supervised office. It may be accessed online at
www.fibogroup.eu.
The Financial Services Commission of the British Virgin Islands is the body
responsible for overseeing FIBO Group Ltd. (FSC BVI). This is the arm that
manages the worldwide website that can be found at www.fibogroup.com, and the
registration number for this arm is SIBA/L/13/1063.
To comply with the directives of the governing bodies, the money belonging to
the customers is kept in separate accounts. Because of this, it will be
impossible for the broker to use them to cover their operational costs. In the
event that the broker goes bankrupt, any client money that have been prudently
stored in segregated accounts will be able to be restored to the respective
account holders.
In preparation for a potential economic downturn, FIBO Group has secured
financial protection in the form of an insurance policy. This action has also
increased the brokerage firm's reliability, which in turn has further protected
the cash of the company's customers.
In addition, the money of investors are safeguarded by the fact that FIBO is a
member of the Investors Compensation Fund (ICF). Despite the fact that FIBO is a
well-capitalized broker, the Investor Compensation Fund (ICF) assures that
investors have some protection in the event that the broker declares bankruptcy
in the future. In the event that this occurs, the ICF has the ability to provide
compensations to clients of the FIBO Group who are eligible. The compensation
cannot exceed €20,000 for individual customer.
FIBO wishes to express its apologies but inhabitants of Australia, Austria,
Belgium, Great Britain, Iraq, North Korea, and the United States of America are
not eligible to use its services.
MetaTrader 4, sometimes known simply as MT4, is a well-known and frequently used
trading platform that is utilized by millions of traders all around the world.
The 'MetaQuotes Software Corporation,' a Russian company with headquarters in
Cyprus, was the one responsible for its creation in 2005. The MT4 trading
platform is equipped with all of the essential trading tools that are required
for doing in-depth market analysis and trading effectively. The following
options are available for use with the FIBO Group MT4:
WebTrader is the online platform's web version, and it is compatible with the
vast majority of today's web browsers.
The word "multiterminal" refers to a system that enables many account managers
to simultaneously handle various accounts from a single master account.
Mobile applications: Specifically crafted for use on iOS and Android-based
smartphones. When it comes to mobile monitoring, analysis, and trading, nothing
beats this.
Application for the desktop: This is available as a download for computers
running the Windows operating system. It is the version of the MT4 that includes
all of its functions, including the installation of trading software add-ons.
This is the full feature version of the MT4.
The following is a rundown of the most important aspects of MT4:
The interface, layouts, charts, and colors of the platform may all be modified
to suit individual preferences.
Prices in real time for all of the assets that are available.
A wide variety of order kinds, including tools for risk management.
Trading with a single click as well as trading directly from the charts are both
available.
Live account balances and a complete trade history are both available.
30 specialized indicators, and 24 objects for in-depth analysis.
There are three sorts of charts based on nine different periods, ranging from
one minute (M1) to one month (MN).
Includes support for the MetaQuotes Language (MQL), which is a programming
language that may be employed in the production of individualized scripts,
indications, and expert advisers (EAs).
Notifications of alerts can be sent by pop-up, email, and SMS.
MT4 Trading Platform Provided by the FIBO Group
MT4 Trading Platform Provided by the FIBO Group
The same company, MetaQuotes Software Corp., was responsible for developing the
MT5 trading platform. MT5 was developed with a wider variety of trading tools
and features than its predecessor, MT4, which already included a broad array of
functionalities. These improvements were made to enhance the platform's existing
capabilities. The user interface and applications have a very identical
appearance, and both the desktop and mobile versions are intuitive and highly
adaptable to individual preferences. Both allow for the creation of bespoke
extensions and automated trading through the use of experienced advisers (EAs).
When transferred to MT5, software that was developed specifically for MT4 would
not function properly, and vice versa.
The FIBO Group MT5 is offered as a desktop program for Windows, in addition to
being made accessible as mobile apps for iOS and Android-based devices. In
addition to the capabilities offered by the MT4 platform, the MetaTrader 5 (MT5)
is equipped with the following key features:
It offers around 21 different timelines, which is 12 more than the MT4 platform
has to offer.
It has 6 outstanding orders, which is an increase of 2 over the MT4, which only
has 4.
Preloaded with 38 technical indicators, which is an increase of 8 over the MT4's
offering.
44 analytical tools, which is an increase of 20 tools compared to those present
on the MT4 platform.
Comes with an economic calendar, something that MT4 lacks but which this product
has.
It is equipped with the depth of market tool, which is absent from the MT4
platform.
MT5 Trading Platform Provided by the FIBO Group
cTrade is a trading platform that can accommodate experienced investors as well
as novice traders. Utilizing technology known as No Dealing Desk (NDD), it
establishes a connection to the markets in real time. "Spotware Systems Ltd," a
financial technology company situated in Cyprus and created and led by "Andrey
Pavlov," is credited with developing cTrader in the year 2010. cTrader is
offered as cTrader online, which can be run directly in a web browser; a desktop
platform for Windows that can be downloaded; and Android and iOS applications
that can be downloaded via the app stores for those respective operating
systems.
The following is a list of some of the most important aspects of the cTrader
platform:
The 'buy' and'sell' prices of the instrument are updated in real time and
displayed in the Watchlist. It may be tailored to the trader's preferred assets
and assets in general.
Multiple order types including market order, limit order, stop order and stop
limit order.
There are four different chart styles available on the FIBO cTrader, and they
may be presented on any of the 26 timelines.
There are around 65 different technical indicators that may be used for doing
technical analysis.
The cAlgo programming language is supported by the platform, which may be
utilized to construct indicators and trading robots that can automate forex and
CFD trading.
The system is compatible with 21 different languages.
cTrader Platform Provided by the FIBO Group
The cTrader platform has a social trading function known as the cTrader Mirror.
Customers of the FIBO Group are given the choice to either become investors or
strategy suppliers. The investors might pay a fee to mimic the trades that the
strategy providers broadcast to the market. Spotware has renamed the product
cMirror to cTrader Copy and given it a new packaging.
cAlgo: The C# programming language is leveraged on the cAlgo platform in order
to facilitate the development of indicators, trading robots, and other types of
software.
To qualify for this service, you will need to have a minimum amount in your
account equal to $300. The cTrader and MT5 platforms do not support the PAMM
services that are offered. Customers of FIBO have the option of either becoming
managers or investors in the company. An investor may pick from hundreds of
different PAMM accounts to invest in based on the level of risk that they are
comfortable with. There is not the slightest assurance that the investors will
make a profit when the PAMM manager is trading on their behalf. The performance
of PAMM in the past is not always indicative of its future performance.
The FIBO Group provides its customers with the chance to participate in a
portfolio that is managed by asset managers that are competent, experienced, and
accredited by the CySEC. Investors have the option of selecting one of the
following strategies from the pool of available options:
In a balanced manner, the yearly profit objective is set at sixty percent, with
forty percent of the earnings going to FIBO. At a loss of thirty percent of
deposits, the level of closure is reached.
The annual profit objective that we are shooting for is 120 percent. FIBO will
keep 50 percent of the earnings, despite the fact that the degree of closure
will result in a loss of 50 percent of the deposits.
Individual: The targeted return on investment is 120%, and FIBO will receive 30%
of the profit.
A computer program handles all of the trading, and investors may get data
whenever they choose. Investors have the freedom to both deposit additional
capital and withdraw previously earned earnings. The first investment volume
begins at $50,000. Again, it cannot be emphasized enough that there is zero
assurance that the desired outcomes will be achieved.
Real-time transaction statistics are made available to clients in order to
uphold the company's commitment to maintaining a policy of openness and to aid
traders with information. The data cover open positions, statistics on order
execution for all different types of accounts, statistics on spreads, and
statistics on the speed at which orders are executed. The figures are derived
from actual market data that was compiled from the accounts of customers. The
open positions provide insight into the market mood held by traders inside the
FIBO Group, which can be used into a contrarian trading strategy.
The FIBO Group brokers analyst team is responsible for maintaining and updating
this portion of the website. It is shown no more than a couple times every week
on average. It concentrates on the news, events, and fundamentals associated
with certain assets, as well as the reaction of the market and an analysis of
it.
This calendar allows you customization of the currency, week, day, and events
displayed on it. The economic calendar details the times and dates of
significant economic events that are known to have an influence on the
currencies of the various nations. In addition to that, it presents the
projections of the analysts and contrasts them with the previous data. The
process of basic analysis makes use of this instrument. It may be accessed
through the MT5 trading platform as well as the website of the FIBO Group.
Both the MT4 and MT5 platforms offer access to these features. There are some
premium services and some that are completely free. Customers of FIBO Group are
at liberty to look for a signal service that meets their needs and subscribe to
that service.
Over two hundred and thirty trading-related terms are defined and described in a
glossary that may be found on the website of the FIBO Group. It is possible to
search the glossary. There are no additional resources for trader education that
may be accessed. When compared to the vast majority of other online brokers,
this is somewhat restricted.
The FIBO Group provides traders with access to a variety of products. The
following are some of them:
Over 60 different currency pairings
9 assets denominated in cryptocurrency
Gold and silver are the two precious metals.
Eight indices
9 Types of Commodities
The FIBO Group provides its customers with a wide variety of account options,
each of which is tailored to the customer's level of expertise, amount of
capital, and personal preferences. There is just one type of account accessible
for the cTrader and MT5 trading platforms, but all of the other account
categories are for the MT4 trading platform.
There are a variety of account kinds available, including the following:
The NDD execution type is used for the MT4 Cent account, which is the only
platform on which it is accessible. It is designed for inexperienced traders who
want to gain some exposure to real market conditions. In addition, there is no
requirement for a minimum deposit, and spreads begin at 0.6 pips. The maximum
leverage allowed is 1000 to one.
MT4 Fixed: This account utilizes the Market Maker brokerage mechanism, which
enables fast executions and is available to traders worldwide. The highest
leverage allowed is 1:200, while the minimum starting balance required is $50.
Spreads begin at 2 pip increments, and the stop out level is set at 20 percent
of the initial investment.
MT4 NDD: The NDD execution model is available with this account type. The
minimum amount required is $50, and trading begins with a spread of 0.0 pips.
Every trade incurs a fee equal to 0.003 percent of the total transaction value,
and the maximum leverage available is 1:400.
MT4 NDD The minimum deposit is $50, and the minimum spread is 0.8 pips. There is
no commission on trades. Execution is done via NDD, and there is no fee for
commissions because of this, as the name suggests. The cutoff level has been set
at fifty percent.
The NDD execution type is utilized while trading using cTrader. The minimum
deposit required is $50, and the spread begins at 0 pip levels. Each transaction
incurs a fee equal to 0.003 percent of the value of the underlying deal. The
cTrader platform allows for the trading of around 41 different currencies at a
maximum leverage of 1:400.
MT5 NDD requires a deposit of at least one thousand dollars, and the NDD
execution type is utilized to carry out customer orders. The highest leverage
available on the FIBO Group MT5 platform is 1:400, and the spread begins at 0
pip increments. Commission fees equal to 0.005 percent of the total value of the
transaction are assessed.
On each of the three different platforms, demo accounts may be accessed. These
are limitless and unrestricted for all customers, giving you the opportunity to
test out the various trading platforms before you commit to creating a
real-money account.
Customers who are Muslim and who apply to the support department through email
are eligible to have swap-free Islamic accounts setup for them. Swaps are not
charged to Islamic accounts, but there may be a weekly fee of $25 to $100 per
lot, depending on the instruments being traded. The MT4 fixed account type is
the only one that allows access to these features.
The team that provides customer support works out of a number of different
office locations, and they are primarily reachable from Monday through Friday.
They are fluent in up to 12 different languages. You may get in touch with the
team through a variety of channels, including immediate web chat online, email,
several phone lines for different regions, and fax. On the website, you'll see a
section labeled "FAQs," which stands for "frequently asked questions." FIBO
Group may be found on both YouTube and Facebook, two of the most popular social
media sites.
However, clients should be aware that the payment processors may charge a cost,
and that price will be passed on to the client. FIBO Group claims that it does
not charge commissions for deposits or withdrawals, but clients should be aware
that this fee may be passed on to them. The following methods of payment are
open for selection:
The costs that must be paid for a wire transfer might run anywhere from $35 to
$50, depending on the institutions that are involved. The fact that it might
take anywhere from two to five days is the most significant disadvantage of bank
transfers. The Euro and the US Dollar are both acceptable forms of payment. The
smallest amount that may be withdrawn is $80.
Connectum is the payment processor that is utilized to handle the processing of
debit and credit card payments. Deposits are handled immediately, however
withdrawals to a card might take anywhere from one to three business days. There
is a withdrawal commission fee that is equal to 2.5 percent plus €1.5.
Deposits are handled instantly, and there are no fees or commissions associated
with regular pay. The minimum amount required to withdraw is ten dollars, and
the processing time is ten business days.
Paysafecard is one of the payment methods that are acceptable for US Dollar
deposits. There is no fee for the commission, and the payment is handled
promptly after it is received.
The following cryptocurrencies may be used to make deposits into Raido Spare:
Bitcoin, Ethereum, and Raido Coin. The processor will not charge any commission
fees; nevertheless, the commission for using the blockchain may be required. The
processing of withdrawals takes two days, and there are no fees or commissions
involved.
Bitcoin, Ethereum, and Bitcoin Cash deposits may all be made via Bitpay. The
deposit is not subject to any fees, and it is processed instantly once it is
made.
The Fibo Group strictly adheres to the norms that have been established by the
various regulatory agencies. One of the regulations pertaining to the cash
belonging to customers is one that it follows. The following safeguards have
been implemented by Fibo Group in order to protect the financial resources of
its customers.
separating the client's money into many bank accounts held at reputable
financial institutions. This is done to ensure that the cash belonging to the
customers do not become entangled with the general running finances of the
organization.
Putting one's name down for a compensation plan that will, in the event that the
company's assets are sold off, result in the return of money paid by customers
to those customers.
Your initial base capital in the execution of trades will be determined by the
amount of your initial deposit, which is required to be at least the higher of
$300 or more.
You will be subject to a commission fee of 0.003 percent of the transaction
value for using certain account types, such as the Ctrader and the mt4 NDD.
The trading experience may be improved using Fibo Group's trading platforms,
which are among the most modern in the industry. This is made possible by the
numerous features that are included with these various platforms. It offers
several trading platforms, including the Meta trader4, the Meta trader5, and the
Ctrader platform, among others.
This trading platform comes equipped with a wide variety of one-of-a-kind
capabilities, some of which are listed below:
Pleasant and intuitive user interface.
Charting and analysis tools of a more advanced level.
Consists of thirty different technical indicators.
Minimum traffic usage.
Provides support for all possible modes of operation.
The Platform Known as Meta Trader5
The following are some of the characteristics of the Meta trader5 platform that
contribute to its profitable nature:
Possesses a straightforward navigational structure.
Supports all execution modes.
Equipped with sophisticated charting and data analysis tools
Enables automatic trading as well as duplicate trading.
Possesses the ability to obtain news on the foreign exchange market from
reputable sources such as Reuters.
Compatible with a wide variety of platforms and operating systems, including
iOS, Windows, Android, and macOS.
The Platform Provided by Ctrader
The ctrader platform is a platform that offers trading access through the use of
technology that does not include a dealing desk.
These are some of its features:
You have access to excellent tools for conducting technical analysis.
Displays the current trading volume in the market.
Execution times that are really quick.
The following is a list of all of the current promos that can be found on the
Fibo Group website.
A promotion offered by no desk dealing that lowers the minimum deposit
required to create an NDD account to $50.
Transactions may be completed using a variety of methods, including credit
cards, bank transfers, and automated payments made via the bitpay pay system,
which are all accepted by the firm. Deposits are not subject to any commission
fees, however withdrawals can incur fees of up to fifty dollars each. The lowest
amount that may be withdrawn is $80.
The Fibo Group possesses all of the necessary components to be a market leader
in the foreign exchange market. Its nearly two decades of experience in the
industry have equipped it with the knowledge and expertise required to dominate
the foreign exchange market. This is a really reputable trader that comes highly
recommended from me to everybody, but especially those who are interested in
trading on a professional level.
Cyprus is the location of FIBO Group, which operates as a forex and CFD
brokerage. Trading is available on MT4, MT5, and cTrader, and the broker
provides many real account, PAMM account, and demo account choices. In this
evaluation, we will focus on regulation, leverage, and price in order to assist
you in determining whether or not FIBO Group is a viable option for you.
In 1998, Financial Intermarket Brokerage Group, also known as FIBO Group Ltd.,
was established. The European Union is overseen by the Cyprus Securities and
Exchange Commission, which issues licenses and regulates the organization
(CySEC). The Financial Services Commission (FSC) in the British Virgin Islands
has also granted the worldwide site authorization to operate there (BVI).
Any trader, regardless of their degree of expertise, should strongly consider
using the MT4 trading platform. The program features a sophisticated interface
that can be completely personalized and is compatible with a variety of trading
strategies.
Spreads, both fixed and floating, start at 0.3 pips for EUR/USD and 1 point for
key indices like NASDAQ that are offered by FIBO Group. The spread on gold is
around 0.5 USD, and the spread on crude oil is 8 cents.
Commissions are another possibility, however it depends on the sort of account
you have. These begin at a rate of 0.003 percent based on the total value of the
transaction. A dormant account fee of $5 will be assessed to your credit card
when the account has been inactive for more than 91 days. In addition, overnight
holdings are subject to exchange fees.
For worldwide customers, the highest leverage that is available in the MT4 Cent
account is 1:1000, whereas the maximum leverage that is available in the
majority of other account types is 1:400. There is a maximum leverage of 1:50
for basic traders and a maximum leverage of 1:400 for professionals available to
EU customers.
The CEO of the brokerage company has seen to it that comprehensive leverage
requirements are described in detail on the company website.
All clients have access to mobile app versions of the MT4 platform provided by
FIBO Group, while clients that trade through the worldwide site have access to
the MT5 and cTrader platforms.
Users of the mobile version of MetaTrader have the advantage of having rapid
access to online quotations, as well as all available trade orders and the
ability to trade immediately from the chart. In addition, you are able to
conduct analysis of the financial markets by utilizing the interactive charts
that allow you to pinch and zoom, and for your convenience, you can even handle
transactions while offline.
Advanced mobile trading tools are available through the cTrader mobile app.
These features include QuickTrade mode, rapid linkages to news sources, price
alerts and notifications, and over 50 indicators over 26 time frames.
The FIBO Group allows customers to fund their accounts using a number of
channels, including bank wires, credit cards, and other online payment systems
like Skrill and Neteller. Take into account that these will differ from one
jurisdiction to another.
There is a possibility of deposit commissions; for example, the fee for a bank
transfer can range anywhere from $35 to $50; however, the commission for the
majority of other deposit methods is waived. The fee rate for withdrawals starts
at 0.5 percent.
There is also a wide range of processing periods, which can be as little as a
few minutes for some electronic payment systems or as much as a few days for
bank transfers and some credit card payment systems.
Traders may test their mettle and get familiar with FIBO Group's trading
platforms by using the MT4 demo server. Demo accounts are typically offered for
a limited amount of time and do not require you to make a real-money deposit or
trade in order to use them.
Traders may visit the website or sign up for the newsletter to obtain
information on bonus deals. Although there are no promotions accessible on the
worldwide site at the moment, traders can still monitor the website. Because of
the constraints imposed by regulations, the European Union website does not
provide any promotions.
Under the license number 118/10, the Cyprus Securities and Exchange Commission
(CySEC) has granted FIBO Group Holdings Ltd. the authority to conduct business
in the country and oversees its operations. The Investor Compensation Fund, of
which FIBO Group is a member, provides coverage of up to €20,000 per individual
customer.
In addition to this, FIBO Group Ltd. is subject to regulation by the Financial
Services Commission (FSC) of the British Virgin Islands, which issues the
company's license (with the number SIBA/L/13/1063).
The FIBO Group provides users with a number of other tools, such as analyses and
projections of the market, in addition to an economic calendar. For beginners,
there is some educational information included, such as YouTube videos
explaining the fundamentals of forex. When compared to other brokers, this one
does not provide the most extensive selection of features; hence, traders on the
EU site in particular may need to go elsewhere.
Clients located in the EU have the option of opening either an MT4 NDD or an MT4
NDD No Commission account. Aside from the changes in commissions, the primary
distinction between the two accounts is that the spreads in the commission-based
account are significantly narrower. Please be aware that the minimum deposits
for the commission-based account are $300, and the minimum deposits for the
no-commission account are €100.
The MT4 Cent and MT4 Fixed accounts are two more options that are available to
global customers along with the MT5 and cTrader NDD trading accounts. All
accounts have a minimum deposit requirement of $50, with the exception of the
MT4 Cent account, which does not have a minimum deposit requirement, and the MT5
NDD account, which needs a deposit of $1,000. In addition, certain accounts
provide further advantages, such as PAMM options, for investors.
The FIBO Group receives high marks in a number of categories, including the
following:
Platforms like MetaTrader and cTrader are available.
Dual governmental oversight of the industry
Simple registration and successful revenue collection
free of charge trade commissions
Very narrow ECN spreads
Drawbacks
Trading with this broker may have various potential downsides, including the
following:
There are insufficient educational resources.
Fewer tools and platforms available for European Union customers
Business & Finance:
Monday through Friday, the trading hours for FX and cryptocurrencies run from
00:05 to 23:55 (Eastern Time). The trading session for spot metals takes place
from 00:05 to 23:55 (EET), Monday through Friday. You may find a comprehensive
list of trading sessions for various particular instruments either inside the
contract specifications or on the trading platforms themselves.
You may get in contact with the Limassol headquarters by calling them, sending
them an email, or engaging in live chat with them. You might also try contacting
one of the worldwide representative offices that is located in Kazakhstan,
Germany, or China as an alternative.
Cyprus email - [email protected]
Telephone number for Cyprus: +357 25 030 930
FIBO Group Holdings Limited may be found in Cyprus at the following address: 29
Agias Zonis, 1st Floor, 3027 Limassol, Cyprus.
When a user logs in to one of FIBO Group's trading platforms, they are greeted
with authentication procedures that need a combination of a password and a
second authentication factor. A one-time verification password is sent to the
member's mobile phone and is required for certain requests made through the
member's area.
FIBO Group offers FX and CFD trading services that are of a satisfactory
quality. These services include the MT4 and MT5 platforms, as well as a variety
of deposit methods and account kinds. Traders need to also have a sense of
security working for this well-established organization, which is regulated in
two different jurisdictions. One significant drawback, on the other hand, is
that there are no instructional materials available, which may discourage
traders who are searching for a more comprehensive product or service.
FIBO Group welcomes traders from most nations across the world, including
Thailand, the United Kingdom, South Africa, Singapore, Hong Kong, India, France,
Germany, Norway, Sweden, Italy, Denmark, the United Arab Emirates, Saudi Arabia,
Kuwait, Luxembourg, and Qatar.
Traders based in the United States, Canada, Australia, Korea, Iran, Iraq,
Israel, Japan, or Belgium are unable to utilize the FIBO Group platform.
FIBO Group Licenses:
FIBO Group, Ltd. is approved by the Financial Services Commission of the British
Virgin Islands, with registration number SIBA/L/14/1063.
FIBO Group Holdings, Ltd. is a company that is approved by CySEC (Cyprus), and
its registration number is 118/10.
Holding Company for International Finance It all began in 1998 for FIBO Group,
also known as the Financial Intermarket Brokerage Online Group, which makes it
one of the most established companies in the field of online trading. The broker
has always adhered to the principles of transparent actions, with the protection
of the interests, rigorous compliance, and observance of laws, and this has been
the case since the very first day of business.
FIBO Group Company was founded in the British Virgin Islands (BVI), and its
headquarters are still located there. However, the broker has improved its
offering by establishing an additional entity in Cyprus, which has received
respected European regulatory authorization and provides investors with the
opportunity to invest safely.
Additionally, the FIBO Group's global reach includes high-quality assistance
that has been built through offices in Vienna, Limassol, Shanghai, Singapore,
Munich, Kiev, and Astana.
In general, the FIBO Companies of the holding have, during the course of their
operation, acquired a large number of awards for their outstanding customer
service and Brokerage company successes. In addition, the holding has thousands
of pleased customers all over the world who they serve.
Is it safe to invest in FIBO Group, or is it a scam? The Financial Services
Commission of the British Virgin Islands is in charge of regulating FONTEN
CORPORATION LIMITED, which is a registered financial services and activities
firm. FONTEN CORPORATION LIMITED is a subsidiary of FIBO Group, Ltd. In point of
fact, the British Virgin Islands (BVI) are considered an offshore jurisdiction
that has relatively lax regulatory rules and standards for financial companies.
On the other hand, an additional entity known as FIBO Group Holdings, Ltd. is a
company that was founded in the Republic of Cyprus and was granted permission by
the Cyprus Securities and Exchange Commission (CySEC) to offer its services to
citizens of the EU and other countries.
As a result, given the European law that runs in tandem with the offshore
registration of FIBO Group, we are able to draw the conclusion that the broker
is a secure option in which to make an investment.
When you trade with FIBO Group, you will be given the opportunity to employ
leverage, which is when a loan is taken out from the broker in order to raise
the size of your trading position. Leverage provides extensive capabilities as
well as the chance of bigger earnings, provided that you utilize the instruments
in an intelligent manner and do not engage in high-risk activities.
Aside from that, the leverage limits are also decided by the regulatory
constraints. For example, if you trade with a European business of the FIBO
Group, you will immediately fall under the regulation of the ESMA, which has
lower leverage requirements.
Leverage up to a maximum of 1:30 was permitted for major currency pairings, and
even 1:10 was permitted for commodities.
However, membership in the worldwide FIBO group grants access to the greatest
conceivable leverage, which may go as high as 1:1000. This is an extremely risky
level, so you should exercise extreme caution while using it.
You have the option of opening either an MT4 NDD Account or an MT4 NDD No
Commission Account thanks to the fact that FIBO group has established two
different account kinds. Although the first account has a competitive variable
spread starting at 0 pips, you will be required to pay a fee on each
transaction. However, this account type is excellent for many different trading
strategies because of the commission structure.
And the second account is an NDD No Commission account that is created with a
set spread starting at 0.8 pips and is fantastic for novice traders or those
trading techniques that demand the precise computation of a spread regardless of
the conditions of the market.
In addition, people who adhere to the Sharia law can open Islamic or Swap free
accounts, which do not charge overnight fees and offer high leverage
possibilities. These accounts are available to those who follow the Sharia law.
The FIBO Group spread differs between the two account types that are available,
and traders have the choice to conduct their business with either a set spread
and no commission, or with variable spreads and a commission that is 0.003
percent of the total value of the transaction. It is, in fact, a wonderful
alternative since it enables you to select the greatest option in accordance
with the trading technique that you employ and to determine what is most
beneficial for you.
Additionally, as a cost of trading, you should constantly take into
consideration an overnight charge or rollover. It is a fee that is assessed on
positions that have been held for more than a day; for the EUR/USD pair, the
rollover fee is around -1.38 for long positions and 0.68 for short positions.
You can view an example of FIBO spreads below, and if you're interested in
checking out another broker, BlackBull Markets is a good option.
The FIBO Group included versatile choices for making deposits or withdrawals as
part of their service, which enables safe and dependable transactions of
monetary value. The many modes of payment, including
Bank Wire Transfers, Card Payments, as well as Payment Systems and Online
Payments through Neteller, Skrill, Qiwi, CashU, fasapay, DixiPay, PaytoDay and
ecoPayz, etc. are all accepted payment methods.
Nevertheless, you should make it a point to verify with the customer support
service in order to determine which payment option is accessible in accordance
with the organization that you deal with as well as your place of residence.
The FIBO minimum deposit requirement is $100, which enables traders to access
NDD accounts without commissions and begin trading immediately. While an NDD
Account requires an initial deposit of $300 to get started.
FIBO provides a number of different withdrawal alternatives, including the
common bank wire and web wallets like Skrill. You should also be aware that the
terms and conditions of your chosen form of payment might affect whether or not
certain fees apply to your transaction. In most cases, there are no transfer
costs, however certain alternatives might cost between $35 and $50.
Due to the fact that the selection of the platform is of the utmost importance,
the customers of FIBO Group are able to take advantage of MetaTrader4, which is
one of the most widely used and powerful platforms in the business.
The platform is also accessible through MT4 WebTerminal, which is a simple
feature that does not require a download and is compatible with any operating
system. Additionally, the platform's mobile application is appropriate for use
on devices running Windows, iOS, and Android.
In addition to its extensive built-in technical indicators, all sorts of trading
orders, and quick execution, MT4 also enables automated trading opportunities
via its well-known EAs or Expert Advisors and does not place any restrictions on
these opportunities. You have the option of selecting an EA from the several
that are available or even developing your own using the MQL4 editor.
In addition, the FIBO platform kindly offers AutoTrade or a social trade tool
called myfxbook as a dependable method to duplicate trades from successful
traders to your own account. Both of these platforms are social trading
platforms. This platform is an excellent feature that not only benefits novice
traders but also benefits pros who are looking to build a following.
Another access option provided by FIBO Group is geared for Money Managers or
Professionals who wish to expand their trading potential by utilizing a large
array of strong instruments, so elevating their investments to a level that is
simultaneously more responsible and more potent.
A comprehensive look at FIBO Group reveals that it is the brokerage business that offers its services throughout all of the key markets, including Europe, Asia, the Middle East and North Africa, and the CIS area, while also providing a diverse selection of trading products and services. Because it operates on a worldwide scale, the firm offers its customers a wide range of technology and problem-solving options that can accommodate virtually any kind of trading requirement.
Whether there is a requirement for seamless execution with no interventions, a choice between strategies built on a fixed spread or a variable one, a need to use high leverage, competitive trading conditions, or even Social trading capabilities, FIBO Group has all of these things and more available to its customers.
Sites like FIBO Group in the UAE
Here is a list of quality Forex, CFD, Stock and Crypto Brokers for new and professional traders living in the UAE:
- Olymp Trade - People simply love this one (Olymp Trade Review)
- Binance - World's largest cryptocurrency e-wallet and exchange that also has an online trading platform, where their members can invest or trade in virtually hundreds of cryptocurrencies and new tokens. (Binance Review)
- IG Markets UAE - UK broker located at Tower 2, Level 27, Al Fattan Currency House, DIFC. (IG Markets UAE Review)
- City Index Middle East - London-city broker with a branch in the UAE. (City Index Middle East Review)
- eToro - Social trading platform, but much better options are available out there. (eToro Review)
- Swissquote - It's a Swiss bank that offers an online trading platform for forex and CFD trading. (Swissquote Review)
- easyMarkets - Israeli brand that is big all over. (easyMarkets Review)
- Forex.com - Google ranks them in the top 10 for the term "forex". (Forex.com Review)
- Plus500 - UK brand that has its own platform, OK for CFDs, with mediocre reviews. (Plus500 Review)
- AvaTrade - Regulated by ADGM's Financial Services Regulatory Authority (FSRA) in Abu Dhabi. (AvaTrade Review)
- FXCM.com - Oldest brand when it comes to retail online forex trading. (FXCM.com Review)
- Mashreq Neo - An online trading platform provided by Mashreq Bank. (Mashreq Neo Review)
- ForexTime (FXTM) - Owned by Andrey Dashin from the Alpari broker fame. (ForexTime FXTM Review)
- Noor Capital - Licensed and Regulated by the UAE Central Bank and SCA. (Noor Capital Review)
- XM.com - XM broker is big in Africa and South East Asia, and now promoting themselves hard in the UAE. (XM.com Review)
- Saxo Bank - Danish Investment Bank with a long history of catering for premium forex investors. It also provides crypto trading facility. (Saxo Bank Review)
- Pepperstone - Originally Australian, but licensed locally by Dubai Financial Services Authority. (Pepperstone Review)
- CMC Markets - UK-based broker that is popular among CFD traders. (CMC Markets Review)
- ETX Capital - UK broker that has a decent reputation among Arab investors. (ETX Capital Review)
- Interactive Brokers - American online-trading broker that is expanding into Asian and Arab markets nowadays. (Interactive Brokers Review)
- Rakuten Securities - Japanese broker that usually looks out for large institutional investors. (Rakuten Securities Review)
- Dukascopy Bank SA - Swiss bank that offers online forex trading on its own proprietary platform. (Dukascopy Bank SA Review)
- IQ Option - It's a below-average broker with no Dubai office, but does have a toll-free virtual number for UAE: 800 032 0891 -> No Arabic, English only. (IQ Option Review)
Reviewed by Arpita Singh
Arpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.