FIBO Group Forex Broker

FIBO Group Forex Broker - Complete Information Guide

1. Overview of the Broker

　　FIBO Group, officially known as Financial Intermarket Brokerage Online Group, was established in 1998. The company is headquartered in Limassol, Cyprus, with additional offices located in Vienna, Munich, Shanghai, and Almaty. As a private holding company, FIBO Group has developed a strong reputation in the forex market and has been recognized as one of the pioneering brokers in the industry.

　　FIBO Group primarily serves retail clients, individual traders, and institutional investors, offering a wide range of trading services tailored to meet the diverse needs of its clientele. Over the years, the company has achieved several milestones, including the introduction of various trading platforms and account types, as well as expanding its service offerings to include managed accounts.

　　The company operates under a hybrid business model, providing both retail forex trading and institutional services, including access to CFDs (Contracts for Difference) and commodities. As a well-established broker, FIBO Group has garnered a loyal customer base, thanks to its commitment to transparency and quality service.

2. Regulatory and Compliance Information

　　FIBO Group is regulated by several reputable authorities, including the Cyprus Securities and Exchange Commission (CySEC) under license number 118/10 and the Financial Services Commission (FSC) of the British Virgin Islands under license number SIBA/L/14/1063. These regulatory bodies ensure that FIBO Group adheres to strict operational guidelines designed to protect clients and maintain market integrity.

　　The broker operates through different legal entities depending on the client's location, ensuring compliance with local regulations. FIBO Group implements a robust client fund segregation policy, where clients' funds are kept in separate accounts from the company's operational funds. This practice enhances the safety of client deposits.

　　Additionally, FIBO Group participates in an investor compensation fund, which provides coverage of up to €20,000 per client in the event of insolvency. The firm also adheres to strict KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures to prevent fraudulent activities and protect clients' interests.

3. Trading Products and Services

　　FIBO Group offers a diverse range of trading products, including over 60 currency pairs, allowing traders to participate in the forex market. The broker also provides access to CFDs on major indices, commodities, and cryptocurrencies, including popular options like Bitcoin and Ethereum.

　　The trading instruments offered by FIBO Group are regularly updated, with new products introduced based on market demand and trends. The firm provides retail trading services as well as solutions for institutional clients, including white-label services and asset management options through its proprietary PAMM (Percentage Allocation Management Module) accounts.

　　FIBO Group's managed accounts allow investors to benefit from the expertise of professional traders, providing an opportunity for passive income. This service is particularly appealing for clients who may lack the necessary experience or time to manage their trading accounts actively.

4. Trading Platforms and Technology

　　FIBO Group supports multiple trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. These platforms are known for their user-friendly interfaces and advanced trading features, catering to both novice and experienced traders.

• 　　MetaTrader 4 (MT4): This platform is widely recognized for its robust trading capabilities, offering a variety of technical indicators, charting tools, and automated trading options through Expert Advisors (EAs). MT4 is available for desktop, web, and mobile devices, providing flexibility for traders on the go.

• 　　MetaTrader 5 (MT5): As the successor to MT4, MT5 offers enhanced features, including a built-in economic calendar, additional timeframes, and improved order management capabilities. It allows for multi-asset trading, making it suitable for traders interested in stocks and futures in addition to forex.

• 　　cTrader: This platform is designed for advanced traders seeking direct market access with no dealing desk intervention. cTrader features high-speed order execution, market depth information, and a user-friendly interface, making it an excellent choice for both manual and algorithmic trading.

　　FIBO Group's trading infrastructure is supported by reliable technology, ensuring fast execution speeds and minimal slippage. The broker also offers API access for automated trading, allowing clients to implement their trading strategies seamlessly.

5. Account Types and Trading Conditions

　　FIBO Group provides a variety of account types to accommodate different trading styles and experience levels. The accounts include:

• 　　MT4 Cent Account: Ideal for beginners, this account has no minimum deposit requirement, offers leverage up to 1:1000, and features spreads starting from 0.6 pips.

• 　　MT4 Fixed Account: This account is suitable for traders who prefer fixed spreads, with a minimum deposit of $50 and spreads starting from 2 pips.

• 　　MT4 NDD Account: With a minimum deposit of $50, this account offers direct market access with variable spreads starting from 0 pips, along with a commission of 0.003% on the transaction amount.

• 　　cTrader NDD Account: Designed for cTrader users, this account requires a $50 minimum deposit and offers spreads from 0 pips with a commission of 0.003%.

• 　　MT5 NDD Account: This account requires a minimum deposit of $1,000 and is tailored for professional traders, offering spreads from 0 pips and a commission of 0.006%.

• 　　MT4 NDD No Commission Account: This account features spreads starting from 0.8 pips and requires a minimum deposit of $50, appealing to scalpers who prefer no commission fees.

　　FIBO Group's trading conditions are competitive, with leverage options varying by account type, allowing traders to choose the level of risk they are comfortable with. The broker also charges overnight fees for positions held beyond trading hours.

6. Fund Management

　　FIBO Group offers a range of deposit and withdrawal methods to facilitate seamless transactions. Clients can fund their accounts using various methods, including:

• 　　Bank Transfers: Available for deposits in USD and EUR, with processing times ranging from 2 to 5 business days. Withdrawal fees typically range from $35 to $50.

• 　　Credit/Debit Cards: Instant deposits with a fee of 2.5% + €1.5 for withdrawals.

• 　　E-Wallets: Options include Neteller, Skrill, and WebMoney, with instant deposits and varying withdrawal fees (e.g., 4.9% for Neteller deposits).

　　The minimum deposit requirement varies by account type, starting from $0 for the MT4 Cent account and $50 for others. Withdrawal processing times can take up to 3 business days, depending on the method used.

　　FIBO Group does not charge deposit fees for most methods, but clients should be aware of potential transaction fees imposed by third-party payment providers.

7. Customer Support and Educational Resources

　　FIBO Group provides comprehensive customer support through various channels, including:

• Live Chat: Instant messaging support available on the broker's website.
• Email Support: Clients can reach out via email for assistance.
• Phone Support: Dedicated phone lines are available for different regions.

　　Support is offered in multiple languages, ensuring accessibility for clients worldwide. However, the broker does not provide customer support on weekends, which may be a drawback for some traders.

　　In terms of educational resources, FIBO Group offers a limited selection, primarily focused on beginner traders. The broker provides access to webinars, video tutorials, and a glossary of trading terms. While the educational content is beneficial for new traders, more experienced traders may find the offerings insufficient.

8. Regional Coverage and Restrictions

　　FIBO Group serves a global clientele, with a presence in various regions, including Europe, Asia, and the Middle East. The broker accepts clients from numerous countries, including Thailand, South Africa, Singapore, and many European nations.

　　However, FIBO Group does not accept clients from certain countries, including the United States, Australia, North Korea, and Belgium. This restriction is due to regulatory compliance and local laws governing forex trading.

　　In summary, FIBO Group is a well-established forex broker offering a diverse range of trading products, competitive trading conditions, and multiple account types. With a strong regulatory framework and a commitment to client security, it remains a viable option for traders looking to engage in the forex market.