66% of retail investor accounts lose money when trading CFDs with this broker
Fibo Group is a forex trading services broker. They give traders access to major markets like currencies, indices, commodities and shares.
To open a live account, you’ll need a minimum deposit of at least $300. Alternatively, Fibo Group offers a demo account that you can use to practice and familiarise yourself with their platform.
Regulated by the Financial Conduct Authority, UK (FRN: 532885). Fibo Group puts all client funds in a segregated bank account and uses tier-1 banks for this. Fibo Group has been established since 1998, and have a head office in British Virgin Islands.
Before we dive into some of the more detailed aspects of Fibo Group’s spreads, fees, platforms and trading features, you may want to open Fibo Group’s website in a new tab by clicking the button below in order to see the latest information directly from Fibo Group.
Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
Like most brokers, Fibo Group takes a fee from the spread, which is the difference between the buy and sell price of an instrument.
The commisions and spreads displayed below are based on the minimum spreads listed on Fibo Group’s website. The colour bars show how competitive Fibo Group's spreads are in comparison to other popular brokers featured on BrokerNotes.
Spreads are dynamic and are for informational purposes only.
As you can see, Fibo Group’s minimum spread for trading EUR/USD is pips - which is relatively low compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with Fibo Group vs. similar brokers.
See all SpreadsIf you were to buy one standard lot of EUR/USD (100k units) with Fibo Group at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $0. Here’s a rough breakdown of the fees and how this compares against XTB & AvaTrade .
| Fibo Group | XTB | AvaTrade | |
|---|---|---|---|
| Spread from: | $ 0.00 | $ 2.00 | $ 7.00 |
| Commission: | $0.00 | $0.00 | $0.00 |
| Total cost of a 100k trade: | $ 0.00 | $ 2.00 | $ 7.00 |
| $2 more | $7 more | ||
| Visit Fibo Group | Visit XTB | Visit AvaTrade |
All fees/prices are for informational purposes and are subject to change.
Fibo Group offers over 8,378 different instruments to trade, including over 42 currency pairs. We’ve summarised all of the different types of instruments offered by Fibo Group below, along with the instruments offered by XTB and AvaTrade for comparison.
| FX / Currency CFDs | Fibo Group | XTB | AvaTrade |
|---|---|---|---|
| # of forex pairs offered | 42 | 48 | 59 |
| Major forex pairs | Yes | Yes | Yes |
| Minor forex pairs | Yes | Yes | Yes |
| Exotic forex pairs | Yes | Yes | Yes |
| Cryptocurrencies | No | Yes | Yes |
| Commodity CFDs | Fibo Group | XTB | AvaTrade |
|---|---|---|---|
| # of commodities offered | 0 | 21 | 16 |
| Metals | Yes | Yes | Yes |
| Energies | Yes | Yes | Yes |
| Agricultural | No | Yes | Yes |
| Index & Stock CFDs | Fibo Group | XTB | AvaTrade |
|---|---|---|---|
| # of stocks offered | 8000 | 1606 | 99 |
| UK shares | Yes | Yes | Yes |
| US shares | Yes | Yes | Yes |
| German shares | Yes | Yes | Yes |
| Japanese shares | Yes | Yes | Yes |
| See Fibo Group's Instruments | See XTB's Instruments | See AvaTrade's Instruments |
Fibo Group is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here. Fibo Group is one of a handful of brokers that offer the cTrader platform developed for traders looking for a STP/ECN solution. For a list of forex brokers that offer the cTrader platform, check out our comparison of cTrader brokers.
Fibo Group also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.
See Fibo Group's platforms
Fibo Group allows you to execute a minimum trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As Fibo Group offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.
As a market maker, Fibo Group may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
As a nice bonus, Fibo Group are one of very few brokers that claim to have no requotes, so you don’t have to worry about slippage (your trades being ordered at a different price to what you executed them at).
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.
Fibo Group also offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders negative balance protection price alerts and much more. You can see all of the account features offered by Fibo Group here.
Finally, we’ve listed some of the popular funding methods that Fibo Group offers its traders below.
Fibo Group support a wide range of languages including English, French German, Chinese, Farsi, Spanish, Indonesian and Russian.
Fibo Group has a BrokerNotes double AA support rating because Fibo Group offer over three languages live chat and email support.
As Fibo Group is regulated by Financial Conduct Authority , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:
You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.
While you might be able to explore Fibo Group’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.
To start the process of opening an account with Fibo Group you can visit their website here.
CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.fibogroup.com/ on 01/11/2020.
