CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 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.

Fibo Group

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Home » Reviews » Fibo Group

Fibo Group Review

Fibo Group is a forex trading services broker. They give traders access to major markets like currencies, indices, commodities and shares.

Pros

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

Cons

A minimum deposit of $300 is required to create a live account. Alternatively, Fibo Group provides a demo account that you may use to practise and become acquainted with their platform.

Regulated by the Financial Conduct Authority in the United Kingdom (FRN: 532885), Fibo Group keeps all customer funds in a separate bank account and works with tier-1 institutions to do so. Fibo Group was founded in 1998 and has its headquarters in the British Virgin Islands.

Before we get into the specifics of Fibo Group’s spreads, fees, platforms, and trading tools, you might want to open their website in a new tab by clicking the button below to get the most up-to-date information directly from them.

VISIT FIBO GROUP

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

What are Fibo Group’s spreads & fees?

Like most brokers, Fibo Group takes a fee from the spread, which is the difference between the buy and sell price of an instrument.

The commissions and spreads shown here are based on the Fibo Group’s website’s minimum spreads.

ForexFibo GroupCity IndexXTB
EUR/USD(Average: 0.7 pips)0.3 pips0.7 pips0.1 pips
GBP/USD(Average: 1.1 pips)0.4 pips1.7 pips0.1 pips
USD/JPY(Average: 1.1 pips)0.4 pips0.6 pips0.1 pips
AUD/USD(Average: 0.8 pips)0.8 pips0.6 pips0.2 pips
USD/CHF(Average: 2.3 pips)0.7 pips2.3 pips0.2 pips
USD/CAD(Average: 2.9 pips)0.6 pips0.5 pips0.3 pips
NZD/USD(Average: 3.6 pips)0.9 pips2.8 pips0.3 pips
EUR/GBP(Average: 2.4 pips)0.9 pips0.5 pips0.1 pips

Spreads are dynamic and are for informational purposes only.

As you can see, the minimum spread for trading EUR/USD at Fibo Group is 0.3 pips, which is relatively low when compared to the average EUR/USD spread of 0.70 pips. The table below compares the costs of trading one lot of EUR/USD with Fibo Group to similar brokers.

SEE ALL SPREADS

How much does Fibo Group charge to trade 1 lot of EUR/USD?

If you bought one standard lot of EUR/USD (100,000 units) with Fibo Group at an exchange rate of 1.1719 and sold it the next day at the same price, you would most likely pay $0.76. Here is a general breakdown of the fees and how they compare to IG and XTB.

Fibo GroupIGXTB
Spread from:$ 3.00$ 6.00$ 2.00
Commission:$0.00$0.00$0.00
Total cost of a 100k trade:$ 3.00$ 6.00$ 2.00
$3 more$1 less
VISIT FIBO GROUPVISIT IGVISIT XTB

All fees/prices are for informational purposes and are subject to change.

What can you trade with Fibo Group?

Fibo Group provides over 8,378 different trading products, including over 42 currency pairings. We’ve summarised all of the numerous types of instruments supplied by Fibo Group below, along with IG and XTB instruments for comparison.

FX / CurrenciesFibo GroupIGXTB
# of forex pairs offered429048
Major forex pairsYesYesYes
Minor forex pairsYesYesYes
Exotic forex pairsYesYesYes
Cryptocurrencies*NoYesYes
Commodity CFDsFibo GroupIGXTB
# of commodities offered03421
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalNoYesYes
Index & Stock CFDsFibo GroupIGXTB
# of stocks offered800080001606
UK sharesYesYesYes
US sharesYesYesYes
German sharesYesYesYes
Japanese sharesYesYesYes
SEE FIBO GROUP’S INSTRUMENTSSEE IG’S INSTRUMENTSSEE XTB’S INSTRUMENTS

Visit Fibo Group

What’s the Fibo Group trading experience like?

1) Platforms and apps

Fibo Group is one of the few brokers that provides both the MetaTrader 4 and MetaTrader 5 platforms. To discover how the two systems differ, check out our MT4 to MT5 comparison. They are one of just a few brokers that provide the cTrader platform, which was designed for traders searching for a STP/ECN solution. For a list of forex brokers that offer the cTrader platform, check out our comparison of cTrader brokers.

They 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

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

Fibo Group allows you to perform a 0.01 Lot minimum transaction. This may differ based on the type of account you establish. The maximum trading requirements differ according to the trader and the instrument. Because they provide STP execution, you may anticipate narrower spreads and greater transparency in the price you pay to execute your trades.

Fibo Group, as a market maker, may have lower entrance criteria than an ECN broker, which benefits from a higher number of transactions and usually has higher capital and minimum trading requirements. Market makers generally have a lower minimum deposit, lower minimum trade requirements, and no trading commission.

As an added benefit, Fibo Group is one of the few brokers who claim no requotes, so you won’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 here.

Finally, we’ve listed some of the popular funding methods that Fibo Group offers its traders below.

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

Funding methods:

  • Credit cards
  • Bank Transfer
  • Payoneer
  • Neteller

3) Client support

Fibo Group supports a wide range of languages including English, French, German, Chinese, Farsi, Spanish, Indonesian and Russian.

4) What you’ll need to open an account with Fibo Group

As Fibo Group is regulated by the Financial Conduct Authority, every new customer must go through a few simple compliance checks to verify that you understand the risks of trading and are permitted to trade. When you establish an account, you will most likely be asked for the following information, so have it 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 prove your trading expertise, so allow at least 10 minutes to finish the account opening procedure.

While you may be able to browse their site immediately, it is crucial to note that you will not be able to conduct any transactions until you pass compliance, which might take several days depending on your circumstances.

To start the process of opening an account with Fibo Group you can visit their website here.

Fibo Group

Open a demo account

79% of retail investor accounts lose money when trading CFDs with this provider.

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