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Fibo Group Review

  • Regulated by: Financial Conduct Authority
  • Safety: segregates client funds
  • Trust Rating: A
Open Fibo Group's Website

Your capital is at risk

Overview

Fibo Group is a forex trading services broker. They give traders access to the 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 offer 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 have 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.

Open a demo account Visit 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.

Fibo Group screenshot

PROS

  • Segeregates client funds
  • Established in 1998
  • Regulated by Financial Conduct Authority
  • Min. deposit from $300

CONS

What are Fibo Group's spreads & fees?

Like most brokers, Fibo Group take 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
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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 .

Fibo Group XTB City Index
Spread from: N/A $ 2.00 $ 5.00
Typical overnight fee: N/A $ 7.94 $ 20.60
Commission: N/A 0 0
Total cost of a 100k trade: N/A $ 9.94 $ 25.6
Visit Fibo Group Visit XTB Visit City Index

All fees/prices are for informational purposes and are subject to change. Last updated: 09/03/2018. Your capital is at risk

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 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.

FX / Currencies Fibo Group XTB City Index
# of forex pairs offered 42 50 84
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 City Index
# of commodities offered 0 0 26
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural No Yes Yes
Index & Stock CFDs Fibo Group XTB City Index
# of Stocks offered 8000 1500 4500
UK Shares Yes Yes Yes
US Shares Yes Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
See Fibo Group's InstrumentsSee XTB's InstrumentsSee City Index's Instruments
Your capital is at risk

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 Screenshot See Fibo Group 's Platforms

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
Your capital is at risk

Trading Features:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit
  • Offers Negative Balance Protection

Accounts offered:

  • Micro account
  • Mini account
  • Standard account
  • Zero spread account
  • Managed account
  • Islamic account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

Fibo Group allow you to execute a minimum of 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 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 have 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.

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 August 23, 2018.