FIBO Group is a CFD Broker that features on its trading platform CFDs on forex and spot metals. FIBO Group is a subsidiary company of FIBO Group Holdings Ltd, a corporation that is licensed by the CySEC. Spread is for EUR/USD 0.1 pip*, real trading is possible with the minimum deposit of $100. The FIBO Group website is available in English, Italian, Spanish, Polish, Chinese, Russian, Arabic.
What do we cover in our FIBO Group Review?
|General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. 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 about the broker
- Website address: www.FIBOGroup.com or www.fibogroup.eu
- Leverage: up to 1:30
- Instruments: CFDs – Forex (42 pairs), spot metals (gold and silver)
- Minimum deposit: $100 (accounts held in EUR, USD, EUR, GBP and CHF)
- Demo account: Yes, free of charge
- Methods of deposit and withdrawal: Wire Transfer, Skrill, Neteller, Credit and debit cards (Visa/MasterCard)
FIBO Group Trading Platform
Clients of the broker are provided with MT4. A popular trading platform that is well-known for its advanced technical features and automated trading. MT4 can be downloaded to any computer or can be accessed via just a web browser or a mobile application. In total, the trading platform gives access to 44 trading instruments.
FIBO Group Spreads
As any other CFD broker, FIBO Group charges a spread fee. For the most current spread charges, please visit the FIBO Group.com website. Here is a spread comparison table that contrasts FIBO Group spreads with popular industry competitors.
*Spreads recorded on 20.06.2019 at 17:12 GMT for the MT4 NDD account type (a commision fee is charged). Spread charges were taken from the homepage of the broker. **Spreads recorded on 26.09.2019 at 11:26 GMT from the trading platform of the broker.
Advantages and disadvantages
Every Broker has its pros and cons, let’s have a look at the ones that elevate & denounce FIBO Group.
FIBO Group Pros
- Tight spreads
- International support
- Offices in Munich and Limassol
FIBO Group Cons
- Commission fee (for MT4 NDD account)
- 2.9% Commission fee on Skrill deposits
- A very low number of available CFDs
To sum up the FIBO Group Review
FIBO Group adheres to strict regulatory guidelines of the CySEC (licence number 118/10) and is a member of the Investor Compensation Fund. At first glance, it might look like the broker has very good fees (spreads) but you have to take into account the fact that for the MT4 NDD account type the broker also charges a commission fee (0.003% from the amount of a transaction). The broker has also a very low number of available CFDs. Considering everything, I think that the biggest advantage of the broker is its international support in several languages.
Your review can make a difference to other traders, please leave a comment if you have any personal experience with FIBO Group.
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