FIBO Group

FIBO Group Review: Is FIBO Group Broker Good?

Broker overview and general information

FIBO Group (Financial Intermarket Brokerage Online Group) was founded in 1998 and is one of the most experienced brokers in the global financial market. The broker offers trading in a wide range of assets, including Forex, CFDs, precious metals, cryptocurrencies, commodities and indices.

Licenses that brokers have obtained

If you ask whether FIBO Group broker is good or not, you should start by considering the license first. The broker has the following licenses:

• FIBO Group, Ltd. is regulated by the Financial Services Commission (FSC) BVI, License Registration Number: SIBA/L/13/1063.

Broker Products and Services

Trading products

• Forex

• Precious metals (e.g. gold, silver)

• Cryptocurrency

• Contracts for Difference (CFD)

• US Stocks

Trading platforms and tools

• MetaTrader 4

• MetaTrader 5

• cTrader Platform

• WebTerminal MT4

• WebTerminal MT5

• cTrader Copy

Broker Account Types

MT4 Cent Account

• Minimum deposit:     0 USD

• Maximum leverage:   1:3000

• Spread starts at:    0.6 Pips

• No commission

MT4 FIXED ACCOUNT

• Minimum deposit:     50 USD

• Maximum leverage:   1:200

• Spread starts at:    2 Pips

• No commission

MT4 NDD Account

• Minimum deposit:     50 USD

• Maximum leverage:   1:400

• Spread starts at:    0.0 Pips

• Commission:      0.003%

MT4 NDD account no commission

• Minimum deposit:     50 USD

• Maximum leverage:   1:400

• Spread starts at:     0.80 Pips

• No commission

cTrader NDD Account

• Minimum deposit:      50 USD

• Maximum leverage:    1:400

• Spread starts at:    0 Pips

• Commission:      0.003%

cTrader Zero Spread Account

• Minimum deposit:      50 USD

• Maximum leverage:    1:1000

• Spread starts at:    0 Pips

• Commission:      0.012%

MT5 NDD Account

• Minimum deposit:     50 USD

• Maximum leverage:   1:400

• Spread starts at:    0.0 Pips

• Commission:      0.003%

Broker Deposit and Withdrawal Reviews

The broker offers deposits and withdrawals via a variety of channels, such as bank wire transfer, Neteller, Skrill, Zotapay, and cryptocurrencies (BTC, ETH, USDT) without any commission for deposits. There is also a cashback promotion when topping up the trading account. For withdrawals, there are different commissions depending on the chosen method, for example, Skrill withdrawals are charged 1%, while cryptocurrencies are charged 0.5%.

FIBO Group Broker Review: Pros and Cons

Pros :

• Low spread

• Leverage up to 1:1000 gives investors the opportunity to make more profits.

• There is no minimum withdrawal amount.

Cons :

• Commissions for some accounts: Although the spread on the MT4 NDD account starts from 0.0 pips, there are additional commissions that are charged, which may increase trading costs in some cases.

• Withdrawal Fee: While some deposit methods are fee-free, withdrawals via some methods can incur a fee of up to $35-$50 per transaction.

• Limited customer support: FIBO Group's customer support, although good quality and fast response, is not 24/7 and is available in only some languages, which may be inconvenient for non-English speaking customers.

• Limited number of CFDs: Although FIBO Group offers a wide range of products, the number of CFDs offered is smaller compared to other brokers, which may not be suitable for those who want to invest in more specialized assets.

• The license that the broker received is classified as Tier D, which investors are concerned about the credibility of this agency.

Office location and contact channels

Location: 2nd Floor, O'Neal Marketing Associates Building, Wickham`s Cay II, P.O. Box 3174, Road Town, Tortola VG1110

Contact channels:

• +7 (727) 327-28-78

• kz@fibogroup.com

Broker Overview Summary

FIBO Group is a broker that stands out for its low spreads and leverage of up to 1:1000, which allows investors to make more profits and reduce trading costs. In particular, it offers several account types that support both novice and professional traders, such as the MT4 Cent account for beginners and the NDD account for those who focus on trading without commission.

However, some downsides to consider include the presence of commissions on some accounts, such as the NDD account, which charges a commission of 0.003% of the transaction value. Additionally, some withdrawal methods can incur fees of up to $50 per transaction, and customer support is limited in language and hours, which can be inconvenient for those who need assistance at all times.

In summary, FIBO Group is a feature-rich broker that is suitable for a wide range of investors, but be aware of withdrawal fees and customer support before deciding to use their services.

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