FiboGroup Review

FiboGroup was first registered in 1998 as the first company that is part of what is now called International Financial Holding FIBO Group. FIBO Group stands for Financial Intermarket Brokerage Online Group.

I. Background and Company Overview of FIBO Group

FIBO Group has racked up several awards in all its years of providing leveraged financial trading. One of these is the Best Analytics Support Service Award for 2015, issued at the Forex Expo Awards. A look into subsequent sections will show why FIBO Group's analytics product is widely regarded in the industry.

Some of the features that continue to attract traders to FIBO Group are:

• There is a PAMM account service for some of the account categories.
• Invest Start product on Ethereum's price action, with protection against a drop in Ethereum's price below the buy entry price.
• Trade assets picked from 9 different asset classes, including US and EU stocks.

II. Trading Platforms and Tools

The platforms available to clients of FIBO Group are:

• MT4
• MT5
• cTrader

The MT4 and MT5 platforms are available from Metaquotes Inc, and all come with a webtrader, mobile apps for iOS and Android devices, and a desktop client.

The cTrader platform comes as a desktop client and as a Webtrader. The cTrader Automate (formerly cAlgo) is the algorithmic programming interface that enables seamless integration of any expert advisors built on it with the cTrader platform. cTrader has a feature where traders can connect to proxy servers to get the best latency metrics. cTrader Copy is the copy trading investment platform for traders who prefer a passive investment mode. The cTrader also comes with a FIX API for trading via FIX-messaging. The cTrader mobile application also enables users to perform trading and non-trading functions on FIBO Group.

Look out for the features of the various account types, as these are matched with these platforms. Your choice of platform should follow what features you want to be captured in your trading journey.

What tools are available for trade enhancement on FIBO Group?

• A Point Value calculator uses the asset, account type, and trade size to work out the value of a point or pip move.
• An interest rate table showcases the interest rates of several developed and emerging market economies, which is helpful to those interested in the carry trade.
• There is a sentiment chart beside every asset listed on FIBO Group, so traders know where the market bias is.
• An economic calendar presents the schedule of news releases that impact the market.
• Market news updates that can be used for actionable analysis are posted on the website.

III. Account Types and Spreads

The account types listed on FIBO Group will depend on the trading entity the client operates with. The accounts found on the offshore entity are listed as follows:

• Cent account
• Fixed account
• NDD MT4 account
• NDD MT4 No-Commission account
• NDD cTrader
• NDD MT5 account

The Cent account comes with no minimum deposit requirements and works only on the MT4. The order technology is the no-dealing desk (NDD) type. It is a commission-free account with spreads starting as low as 0.6 pips. Stop out level is set to 20%. Only FX pairs are available for trading.

The MT4 Fixed account has a $50 minimum deposit requirement. It is also a zero-commission account with spreads as low as 1.0 pips and stop out level of 20%. CFD trading is available and the ac can be denominated in Euro, USD, GBP, CHF and RUB. This account type works only on MT4. Order execution is via the market maker model.

The MT4 NDD account works only on MT4. It is a zero-spread, non-dealing desk account with a $50 minimum deposit. Commissions are charged at the rate of 0.003% of the invested amount. Stop out level is set to 50%.

The MT4 NDD No-Commission account shares the same attributes as the MT4 NDD account, but the only difference is that no commissions are charged. Spreads start from 0.8 pips.

The cTrader NDD account works only on the cTrader platform. The minimum deposit on this zero-spread account is $50. Execution is via the non-dealing desk model. The account can only be operated in Euros or USD. Commissions on trades start from 0.003%. The stop out level is 20%.

The MT5 NDD account works on the MT5 platform. It is a zero-spread account with a 50% stop out level. With a $50 minimum deposit, it can only be operated in US Dollars.

Only the NDD MT4 account and the NDD MT4 No-Commission accounts are listed on Fibo Group's EU entity.

IV. Contract Specifications

What are the contract specifications on the FIBO Group accounts?

• Only the Cent account has a cap on the number of orders that can be opened, and this is set to 50.
• The maximum order volume on the Cent account is 100 micro lots. There is no cap on the maximum order volume on all other accounts.
• The PAMM account service is only available to holders of the MT4 Fixed, MT4 NDD and MT4 No-commission NDD accounts.
• Leverage is set to a maximum of 1:3000 for the Cent account, 1:200 for the MT4 Fixed, and 1:400 for all other account types on the offshore entity. Cryptocurrency CFDs have a maximum leverage of 1:25 for all account types.
• The maximum leverage on the EU entity is 1:30 (FX majors) as per ESMA's rules.
• CFD trading is only available on the MT4 Fixed and MT4 NDD accounts.
• Minimum order size is 0.01 lots, with increment of 0.01 lots on all accounts.

V. Security and Regulation

FIBO Group maintains an offshore branch in the British Virgin Islands, where it is regulated by the Financial Services Commission with license number SIBA/L/13/1063. The brand also has an office in Gibraltar, which is operated by FONTEN Corporation Ltd (reg number 94046).

The EU entity is managed by Fibo Markets Ltd, known previously as Fibo Group Holdings Ltd. The company is authorized and regulated by the Cyprus Securities and Exchange Commission, with license number 118/10.

Residents of the UK, DPRK and USA are not permitted to access the company's products or to operate a trading account.

VI. Customer Support and Education

How can you reach the customer support desk of FIBO Group? Due to the presence of several offices, you may need contact with a specific office to get specific service.

• Email: china@fibogroup.com (China); service@fibogroup.de (Germany); service@fibogroup.eu (Cyprus/Head Office); kz@fibogroup.com (global)
• Phone: +357 25 030 930 (Cyprus); 0800 183 0761 (Germany); +44 (845) 09 50 118 (BVI)
• Telegram: t.me/FIBOGroupOfficialEN
• Live chat
• Facebook: facebook.com/FiboGroup.Int

Conclusion

If you love the tilt towards NDD trading, and the chance to use a PAMM account, consider trading with FIBO Group.