FIBO Group (2024) Review: A Reliable Brokerage since 1998

With its headquarters situated in Vienna, Austria, FIBO Group has been a trailblazer in the industry, offering unrivalled access to forex, commodities, indices, and beyond. To solidify its global presence, the firm has strategically positioned additional offices in international hubs such as Kyiv, Singapore, Limassol, Munich, and Astana.

The standout element of FIBO Group is its unwavering commitment to innovation. Traders can leverage the advantage of their advanced trading platforms and sophisticated software to enrich their trading experience.

From personal experience and observation, I confidently recommend FIBO Group to those seeking premium trading services. However, it’s crucial that you conduct your own due diligence to ensure their offerings align with your unique trading requirements.

To aid in this evaluation, I suggest reading this article detailing user experiences with their robust online trading services.

Pros and Cons

Pros

• This broker is well-regulated and has a standing reputation for providing a secure and reliable trading environment.

• Good reputation and has operated successfully for many years.

• The broker offers global coverage, serving clients worldwide with an extensive range of financial instruments and services.

• An award-winning company recognized for their excellence and accomplishments in the financial industry.

• FIBO Group caters to your trading preferences by offering a range of trading instruments (Forex, Commodities, Metals and Cryptocurrencies)

Cons

• The online trading platform has a limited educational resource section, a drawback for traders looking for in-depth learning materials.

• Not available in certain countries due to regulatory restrictions.

• International trading is offered through an offshore entity based in the British Virgin Islands (BVI).

History of the Financial Intermarket Brokerage Online Group

Here are some of the key milestones in FIBO Group’s history:

• 1998: FIBO Group is established as an investment consulting firm in Vienna, Austria.
• 2003: The company expands its services to include brokerage for currency trading.
• 2005: FIBO Group becomes one of the pioneering brokers in Russia.
• 2011: The company becomes Russia’s fourth largest forex broker, serving more than 35000 clients.
• 2017: The brokerage platform further diversifies its offerings by adding cryptocurrency trading.
• 2018: FIBO Group gains worldwide recognition. Ranks among the top 20 global forex brokers.

FIBO Group Awards and Recognition

Over the years, FIBO Group has received accolades for its commitment to providing customer service, maintaining transparency, executing orders quickly, and offering top-notch trading systems.

Here are the awards presented to the Financial Intermarket Brokerage Online Group;

Besides the awards, FIBO Group showcases a range of participation plaques and accomplishments on its website. This allows you to delve into their successful engagements and notable contributions to the financial industry.

Trading Conditions

Choosing a broker can be tricky because they all appear to offer the same trading terms, making the process daunting. Nevertheless, even the smallest variations can impact the trading platform you use. Here, I give you the most important trading conditions at FIBO Group;

• Minimum deposit — $0
• Minimum Lot Size — 0.01
• Maximum Leverage — 1:1000
• Base currencies — EUR, USD, RUB, GBP, and CHF
• Supported languages — English, German, Italian, Spanish, Portuguese, Polish, Ukrainian, Persian, Bahasa Indonesia, Chinese, Arabic, Vietnamese, Thai, Malay, Turkish, and Russian
• Instruments — Commodities, Cryptocurrencies, Forex, Indices, Metals.

Security and Regulations at FIBO Group

Attending to the security measures and regulatory compliance of any exchange or brokerage you engage with is critical. Overlooking these factors can jeopardize your trades and impact your profitability.

FIBO Group operates under the licenses and supervision of two regulatory bodies—the Cyprus Securities and Exchange Commission (CySec) and the Financial Services Commission (FSC) in the British Virgin Islands.

CySec oversees the company’s European operations, while the FSC regulates the global operations catering to clients outside Europe.

For those based outside Europe, it’s noteworthy that the British Virgin Islands’ FSC is known to be less stringent in its regulation of financial service providers compared to the likes of the FCA and ASIC. However, the BVI FSC still mandates brokers to hold client funds in segregated accounts and issue regular monthly statements.

With FIBO Group, you can be assured that your funds are safe. They adhere strictly to the BVI FSC regulations by maintaining all client funds in segregated accounts with tier-1 banks, thereby offering you security and peace of mind.

Other Security Measures in Place

• FIBO Group uses strong encryption to protect personal data, including passwords, credit card numbers, and trading information.
• FIBO Group complies with the International Safe Harbour Privacy Principles and relevant legislation.
• FIBO Group protects the privacy of underage users and recommends parental guidance for internet usage.
• FIBO Group’s data centres are located in secure facilities with limited access.

Overall, I find it safe to trade using FIBO Group, as it is licensed to multiple regulatory authorities, proving their commitment to serving you and me to the fullest. Furthermore, the measures put in place make the broker safer and provide an added layer of protection.

How Does FIBO Group Work?

FIBO Group runs trading brands such as FOREX.com, City Index and GTX. They provide services in PAMM, Automated Trading and Asset Management. To access these services, you can utilize trading platforms like MetaTrader 4, MetaTrader 5, and cTrader. All three platforms are available via web browser, desktop and mobile.

I have used these platforms and would gladly share my insights with you. So let’s delve into exploring the trading platforms offered by FIBO Group;

MetaTrader 4

In my opinion, one of the greatest platforms for newcomers is MetaTrader 4, which has an easy learning curve and built-in lessons to guide you through the interface.

Millions of professional traders utilize the MetaTrader 4 (MT4) trading platform, which is extremely well-liked. I use the MetaTrader 4 platform because it was the first one I became used to, and I have since never found the desire to try any other platform.

The MT4 platform has all the tools required for effective trading and extensive market analysis. There are four ways to access the FIBO Group MT4: WebTrader, Multiterminal, mobile trading apps (for iOS and Android devices), and desktop applications.

Features:

• Superior charting tools in nine timeframes
• 30 technical indicators and 24 analytical objects
• Multiple order types, including Market, Limit, Stop, and Trailing Stop orders.
• Live account balances and trading history
• Alert notifications via pop-up, email, and SMS

MetaTrader 5

The same MetaQuotes Software Corp., which also developed the MT4 trading platform, created the MT5 platform. To enhance the wide range of capabilities inside the MT4 platform, MT5 was created with additional trading tools and functionality.

The two systems are user-friendly and completely customizable, and the interface and trading apps look remarkably similar. MT4 is fine if you only trade forex, but if you want to diversify into other asset classes, you may opt for MT5.

The FIBO Group MT5 is offered as a Windows desktop application and a mobile app for iOS and Android smartphones.

Features:

• 21 timeframes (12 more than that of the MT4)
• 38 technical indicators and 44 analytical tools
• Six pending order types
• Economic calendar

cTrader

cTrader is a versatile platform suitable for both experienced traders and beginners. It provides real-time market connectivity through No Dealing Desk (NDD) technology. While cTrader is an exceptional platform, I believe it may be better suited for traders with some experience.

You can explore its capabilities with a free demo account to determine if it aligns with your trading styles and needs.

Features:

• Four chart styles that can be displayed on 26 timelines
• Over 65 technical indicators
• Integration with cAlgo
• Multiple order types

FIBO Group’s Trading Tools

In my opinion, the trading platforms (MT4, MT5, and cTrader) offered by FIBO Group are equipped with tools designed to cater to the requirements of even the most selective traders. However, it is encouraging to note that the broker has also incorporated tools to enrich the trading experience allowing you to maximize your trading potential.

• PAMM Accounts — This option is only available on the MT4 trading platform, and a minimum deposit of $300 is required to become eligible. The service gives you the option of becoming a manager or an investor.
• Economic Calendar — Customisable according to day, week, and events
• Trading Signals — Available on the MT4 and MT5 platforms
• Asset Management

1. Balanced — Annual profit target of 60%, FIBO retains 40% profits
2. Aggressive — Annual profit target of 120%, FIBO retains 50% of profits
3. Individual — Annual profit target of 120%, FIBO retains 30% of profits

Instruments and Assets

Whether you’re a seasoned trader seeking advanced instruments or a newcomer taking your first steps into the financial markets, FIBO Group has got you covered, as it offers multiple instruments for trading across different asset classes.

Forex

FIBO Group allows traders to trade minor, major, and exotic currency pairs. As a trader, you can access a wide variety of over 40 forex pairings that can accommodate your preferences and trading techniques.

Metals

At FIBO Group, you can delve into the world of metal commodities and explore two metal options: Gold and Silver. Through contracts (CFDs), you have an exciting opportunity to speculate on the price swings of these highly valued assets.

Commodities

The trading platform offers traders a variety of 11 commodities, which aligns with what other brokers typically offer. These commodities include metals, energies and soft commodities (such as cotton).

Indices

FIBO Group only offers eight indices for trading, which is a small selection compared to most other brokers. The most popular indices incorporate the stock of some of the world’s biggest, most well-known corporations.

Cryptocurrencies

Nine cryptocurrency pairs are offered, which is average compared to other brokers and includes, among others, Bitcoin and Ethereum. Trading on these assets requires watching your margins because spreads might differ dramatically from other standard fiat currencies.

Fibo Group Account Types

Amazingly, FIBO Group provides a range of accounts tailored to suit their clients. While there is one type of MT5 and cTrader account, all other account types are designed specifically for the MT4 trading platform. This demonstrates that the broker has taken measures to cater to different trading strategies.

The following account types are available:

MT4 Cent Account

This account employs the No Dealing Desk (NDD) execution type and is only accessible on the MetaTrader 4 platform. It is intended for new traders or those with little capital who simply want to test out live trading.

Features;

MT4 Fixed Account

This account utilizes a market-maker brokerage approach that provides immediate executions. For experienced traders who prefer manual or long-term trading strategies, the MT4 Fixed account is the best option. This account is perfect for undertaking chart analysis and testing trading strategies that can be used for automatic trading.

Features;

MT4 NDD Account

The MT4 NDD account provides access to important liquidity providers thanks to NDD technology. This account provides the most accurate order execution and very tight spreads.

Features;

MT4 NDD No Commission Account

This account has the same specifications as the MT4 NDD Account, with the exception that there is no fee and the trading cost is included in the spread (from 0.8 pips).

MT5 NDD Account

Tailored specifically for the MetaTrader 5 trading platform, this account at FIBO Group is the perfect fit for professional traders engaged in scalping and automated trading strategies. With its specialized features and capabilities, this account provides an optimal environment to execute fast-paced trades and implement automated algorithms.

Features;

cTrader NDD Account

If you are a trader who utilizes the cTrader trading platform, you will find the cTrader NDD account offered by FIBO Group to be an ideal option. This particular account has been specifically created to meet your requirements, providing you with strategies and direct access to global liquidity providers.

Features;

Demo Accounts

On all three platforms, demo accounts are available. All clients have unrestricted access to these trading accounts, which are not subject to any limitations or the use of real money. They let you test the platforms before choosing to open a trading account.

“Risk comes from not knowing what you’re doing.” – Warren Buffett.

To ensure that a broker’s terms are compatible with your trading methods, I think testing them out first on a demo account is essential. Additionally, it’s an opportunity to boost your confidence before making any monetary commitments.

Islamic Accounts

I was delighted to find that Muslim users have the option to establish swap-free accounts by simply emailing the support team. Such Islamic accounts completely forego swaps, providing an accommodating platform for clients of diverse religious beliefs.

It is important to note, however, that depending on the financial instrument transacted, a weekly fee of $25 or $100 per lot will be applicable.

While the acceptance of clients with varying religious beliefs is gradually becoming a norm among many brokers, it is always heartening to observe brokers who are proactive in embracing this inclusivity.

Educational Section

The FIBO Group’s education component is just one page long and explains the fundamentals of forex trading. The connections to the FIBO Group’s YouTube channel, where traders may find various instructive videos organized into courses, are the most valuable elements of this page for traders.

The playlist curated by FIBO Group comprises excellent video primers, perfect for new traders to get started. For more seasoned traders, advanced educational playlists such as “Forex Trading Using Technical Indicators” and “MT4 Lessons” are available, offering in-depth insights and strategies.

FIBO Group Payment Options

In my opinion, the broker excels in this area. They provide a variety of account funding alternatives so that everyone may easily access simple ways to deposit and withdraw money.

Customer Support

FIBO Group provides award-winning service to clients through a team of skilled and dedicated multilingual professionals. Support is available 24 hours a day, five days a week via Live Chat, social media, email address, and phone.

Conclusion

To sum up, FIBO Group has established its reputation as a seasoned online broker specializing in forex and CFD trading. What stands out for me is their varied account types, highly competitive trading conditions, diverse payment options, low minimum deposit, and the provision of free demo accounts.

However, in my experience, I found their selection of trading options somewhat limited compared to other brokers, particularly due to a lack of unique stock instruments. Also, their educational resources could be significantly improved.

In conclusion, FIBO Group seems to be a strong choice for traders primarily interested in forex trading. Nevertheless, if your trading interests extend beyond forex, it would be wise to meticulously assess your options.

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