Fibo Group web trading review - Table of contents
Forex trading with the best, this is what traders will find with this online broker.
Fibo Group or the Financial Intermarket Brokerage Group is a CFD and forex trading broker founded in 1998. Registered and regulated in Cyprus and the British Virgin Islands, it has been in operation for more than 20 years.
Currently, the brokerage has a network of offices around the globe. It complies with the top industry standards and has its place among the most preferred brokers.
If you want to learn more about forex trading with Fibo Group, read on.
What is Web Trading
Fibo Group is an online forex broker which provides web trading services for all web trader levels. Using a specialized forex web trading platform clients can trade forex online.
The brokerage offers several online trading platform options that can be accessed through any device.
Web Trading Platform
This online forex broker allows traders to start with a demo account and enjoy some of the best forex web trading platforms by Metatrader.
With its powerful and fully customizable interface, this is the top choice of platform for traders of all levels.
The forex web trading platform is available for download for Windows devices also as a web-based version for other operating systems. Clients can enjoy a variety of features and professional functionality.
The upgraded version of MT4 comes with several additional features and a range of technical indicators and tools. The MT5 platform is also available on desktop or as a web trader, but only for clients on the global site.
This trader platform is for both professionals and beginners in foreign currency trading. It is available both for download and web use. There is a one-click trading option, markets sentiment indicators, news, and other integrated tools as well as copy-trading functionality.
Fibo Group traders can use the MT4, MT5, and cTrader platforms on mobile. The apps are accessible through the website. Mobile users enjoy quick access to the functionality of the apps and an interactive experience on the go. Another great option is that traders can manage their trades in offline mode too.
For more advanced features users can choose the cTrader mobile app, which gives them access to over 50 indicators as well as a large variety of news sources, price alerts, and more.
Markets and Products
Fibo Group offers a wide variety of tradable financial instruments including 38 currency trading pairs, spot metals (on the EU site as well as different options for global clients.
Among the global offers, traders can find a range of foreign currency trading pairs, CFDs on major commodities and indices, and 9 cryptocurrency offers.
Spreads and Fees
With this forex broker, traders will find fixed as well as floating spreads starting from 0.3 pips up to 1 point for some major indices. The spread for gold is 0.5 USD, while that for crude oil is 8 cents.
Commissions depend on the account type and start from 0.003% of the transaction amount. There is also a fee of 5$ for dormant accounts which applies for more than 90 days of inactivity. Also, swaps on overnight positions are charged.
The maximum leverage for global clients is 1:1000 for the MT4 Cent account and 1:400 for other account types. The leverage for EU clients is up to 1:50 for traders and up to 1:400 for professionals. The leverage requirements are published on the broker’s online trading website.
Users from the EU can choose between two MT4 NDD accounts. The difference between them is mainly in the commission, but also the spreads. The minimum deposit is 100 EUR for the no-commission account and $300 for the commission one.
Global clients have a wider variety of accounts to choose from – MT5, cTrader NDD, MT4 Cent, and Fixed account. The minimum deposit for them is $50 except for the MT4 Cent where there is no minimum deposit.
The MT5 NDD is another exception because it requires a $1,000 deposit. Traders who chose to open a forex account with this broker have to keep in mind that some accounts have additional benefits.
Deposits & Withdrawals
This online broker has a variety of funding methods such as bank wire, online payments, and a credit card option. Of course, the payment methods vary depending on the location and different restrictions.
Although most of the deposit methods are commission-free there may be some deposit and withdrawal commissions for example for bank transfers which can cost between 35 and 50 dollars and 0.5% for withdrawals.
Processing times may vary, from minutes (e-payments) to a few days for bank and credit card transfers.
With this broker web, traders can use the MT4 demo server to explore different trading platforms and practice their skills and strategies. Demo accounts can be opened in a certain time frame and do not require a real money deposit. A demo forex account can be very helpful for beginner traders.
Deals & Promotions
Unfortunately, at the moment there is no forex bonus or promotions on the broker's global web trading site. However, traders can stay up to date with the promotional offers if they sign up for the newsletter which contains regular updates on forex bonus deals.
There are no deals and promotions on the EU site because of regulatory restrictions.
The broker allows traders to earn extra by managing third-party funds. With the PAMM program, managers earn an extra fee payable when the trade is profitable.
This broker allows every web trader to invest and trade with some of the most popular cryptocurrencies in competitive conditions. Here users will find Ethereum, Bitcoin, Zcash, Monero, Dash, and Litecoin as well as Ethereum Classic.
The broker offers an automated online trading service that lets users copy signals from more profitable and experienced users. A trader can choose from free or paid signals. Providers have different ratings reviewed by professionals to help traders make more adequate choices. The signal subscription can be canceled at any time.
Beginner traders will benefit from a competent 24-hour support center. They can also take advantage of the information on the trading website which is quite comprehensive. Although the training resources are limited compared to other brokers, there is a lot of information and additional features that help traders in their journey.
Regulation and Licensing
The broker is regulated and authorized by the Cyprus Commission and the Virgin Islands Financial Commission. It is also a member of a compensation fund which covers up to 20,000 EUR per client.
Fibo Group has support representatives in their offices in Limassol, Germany, China, and Kazakhstan. The team can be reached via live chat, phone, or email. The customer support team is friendly and knowledgeable and is competent in answering different queries.