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66% of retail investor accounts lose money when trading CFDs with this broker
Overview
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. Your capital is at risk. CFDs are leveraged products & 73% of traders lose money when trading CFDs.
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 spreads displayed below are based on the minimum fixed spreads listed on Fibo Group’s website.
The colour bars show how competitive Fibo Group' spreads are in comparison to other popular brokers featured on BrokerNotes.
Fibo Group variable spread is not available. If you believe this is incorrect please fill in our form
Spreads are dynamic and are for informational purposes only. Last updated: June 06, 2018.
As you can see, Fibo Group's
minimum spread for trading EUR/USD is 2 pips - which is relatively high compared to average EUR/USD spread of 0.82 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 Spreads 66% of retail investor accounts lose money when trading CFDs with this broker
How much does Fibo Group charge to trade 1 lot of EUR/USD?
If 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 $N/A. Here’s a rough breakdown of the fees and how this compares against XTB & City Index.
All fees/prices are for informational purposes and are subject to change. Last updated:
09/03/2018. 66% of retail investor accounts lose money when trading CFDs with this broker
General Fees
Fibo Group does charge inactivity fees
Fibo Group doesn’t charge withdrawal fees*
Commissions
Fibo Group does charge commission on CFD shares
What can you trade with Fibo Group?
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 City Index for comparison.
66% of retail investor accounts lose money when trading CFDs with this broker
What’s the Fibo Group trading experience like?
1) Platforms and apps
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 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 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 on the right.
Funding methods:
Credit cards
Bank Transfer
Payoneer
Neteller
3) Client support
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.
4) What you’ll need to open an account with Fibo Group
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:
A scanned colour copy of your passport, driving license or national ID
A utility bill or bank statement from the past three months showing your address
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.
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 August 23, 2018.
Our trust rating is calculated as follows:
To achieve a B rating:
The broker must be regulated
To achieve an A rating:
Everything above, plus:
The broker must have been established for more than 10 years
Must use segregated bank accounts to hold client funds
Must use Tier-1 bank accounts to hold client funds
To achieve an AA rating:
Everything above, plus:
Must be in the top 100,000 most popular websites according to Alexa
To achieve an AAA rating:
Everything above, plus:
Must not have received any fines in the past five years
Standard accounts typically allow you to trade in standard lots (100,000 unites of the base currency).
This is the minimum amount of money you have to deposit to open an account.
A stop loss is an order to sell a security when it reaches a certain price, and is designed to help traders manage risk. Stop losses are not guaranteed.
Negative balance protection prevents your account balance from going below zero by closing your losing trades automatically.
Micro accounts allow you to trade micro lots (1,000 units of the base currency).
Mini accounts allow you to trade mini lots (10,000 units of the base currency).
A zero spread account allows you to trade by paying only a commission per trade rather than paying a spread.
Scalping is a trading strategy whereby a trader attempts to profit from small price changes.
Not all brokers allow hedging (opening two or more positions with negative correlations with the aim of offsetting your risk) as this can increase the broker's risk.
Brokers that offer STP (Straight Through Processing) execution route their clients' orders directly to their liquidity providers who have access to the interbank market (and the most competitive spreads).
Expert advisors (sometimes called 'EAs' for short or robo advisors) are software algorithms that enable traders to automate research and trading on the MetaTrader platforms.
An ECN broker (electronic communications network broker) connects buy/sell orders with a network of liquidity providers, banks, and other brokerages. ECN brokers typically offer variable spreads and have the added benefit of tolerating most trading strategies, including scalping.
Multi account manager (MAM) accounts are suitable for money managers that manage multiple client accounts.
Managed accounts allow you to instruct a manager to trade on your behalf and are designed for those who want to participate in the markets but don't have the time to do so.
Paying interest is forbidden according to islam. As such, islamic trading accounts do not allow the account owner to earn/pay interest. These accounts are sometimes referred to as swap-free accounts.
Spreads are indicative only. Visit Broker website for more details.
MetaTrader 4 is a popular platform used for trading Forex, analysing financial markets and using Expert Advisors.
WebTrader enables you to trade online through your web browser on any computer without having to download any software.
Micro accounts allow you to trade micro lots (1,000 units of the base currency).
VIP accounts are designed for the most active traders, and typically include perks like lower spreads, a virtual private server (VPS) and a dedicated account manager. VIP accounts typically require a deposit size above $10,000
If a broker offers fixed spreads this means that their spreads will remain constant regardless of trading conditions.
If a broker offers variable spreads this means that their spreads will vary depending on trading conditions.
A market maker broker will buy/sell the opposite position of your trades. In other words, when you sell a position, the broker will buy it, and vis versa. Market maker brokers typically offer fixed spreads and have a better range of support and platform options.
Direct market access (sometimes called level 2 trading or DMA) allows you to submit buy or sell orders directly to the order book of an exchange. The main advantage of this is that you can achieve a slightly better price on your orders as there is no market maker involved to take a cut.
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Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.
