FiboGroup review
Introduction of the broker FiboGroup
FIBO Group is a brokerage company that offers a wide range of trading tools and platforms for trading on financial markets. With a minimum deposit of $300 and zero commissions, it is accessible to many traders. The company allows clients to trade without swaps and offers segregated accounts. FIBO Group also offers managed accounts and money manager accounts (MAM, PAMM). Other features include one-click trading, API, OCO orders, phone trading, security, trailing stop, and mobile trading. Scalping is allowed, and the broker also provides demo accounts for strategy testing.
Spreads are variable, and the broker type is Market Maker and NDD. The broker supports a wide range of funding and withdrawal methods, including bank transfers, credit and debit cards, Western Union, WebMoney, Neteller, Skrill, and Okpay. Accounts can be held in various currencies, including USD, GBP, EUR, CHF.
The trading platforms are MetaTrader 4, MetaTrader 5, and cTrader, which are popular among traders for their robust features and user-friendliness. FIBO Group supports trading CFDs on stocks, options, futures, indices, commodities, and CFDs. The company has international offices in Austria, Cyprus, Germany, Kazakhstan, Russia, Singapore, and Ukraine. It is regulated only by the FSC (British Virgin Islands).
User Ratings and Reviews of FiboGroup
FIBO Group receives mixed reviews on various platforms. On Trustpilot, users generally appreciate the user-friendly trading platforms and competitive spreads. On Myfxbook, the broker has a rating of 3.8 out of 5 and is praised for its various platforms but criticized for limited educational resources. However, on Forex-Ratings.com, there are significant complaints about fraudulent activities.
Is FiboGroup a Scam or a Safe Broker?
FiboGroup has mixed ratings and is an average broker that cannot be clearly categorized. It cannot be definitively stated that it is fraudulent, but it also cannot be considered a safe broker. We recommend considering other options for now.
Risk warning CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 51 - 89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| Basic information | |
|---|---|
| Number of CFD asset classes | 5 |
| Broker type | MM |
| Customer support |
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| Deposit from | 300 EUR/USD |
| Real Stocks and ETFs | |
| Platforms |
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| Instruments CFD | Commodities, Share CFDs, Forex, ETF, Indicies |
| Established | 1998 |
| Location | 2nd Floor, O'Neal Marketing Associates Building, Wickham`s Cay II, P.O. Box 3174, Road Town, Tortola VG1110, British Virgin Islands |
| Phone | +357 25 105 641 |
| service@fibogroup.com | |
| Last update: | |
Pros
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Licences and regulation
The regulations of the broker FIBO Group include the following permits and registrations:
- FIBO Group, Ltd. - FSC (BVI) registration no. SIBA/L/14/1063
- FIBO Group Holdings, Ltd - CySEC (Cyprus) registration no. 118/10
