Fibo Group Review

For some years now, trading CFD products has developed into a serious alternative, which is also used by many private traders. This is probably due to the increasing spread of the fast Internet, which in principle enables every actor to profit in real time from the price movements of all stock exchanges around the globe. The range of service providers that allow traders to trade in these products is now very large and new providers are regularly being added. One of these providers is the online broker FIBO Group based in Cyprus. FIBO Group specialises in offering its customers a wide range of appropriate trading instruments. In addition to a good selection of currency pairs and some commodities, the most important unique selling point of this broker is probably the stock offering. There are no less than 8,000 different securities available for trading in this area.

Now, however, it is not the sheer mass of available underlying assets alone that determines the quality of an online broker. So that a customer who decides on a certain online broker does not regret this step even after a few years, our experience shows that a number of other important factors also play a role.  In our test we therefore looked at the online broker FIBO Group to see how well the announced offer is actually implemented. And we also looked into the question of whether it was a trustworthy and reputable provider. Specifically, we wanted to make sure that neither fraud nor rip-offs play a role in the trade.

Our experiences at a glance

Before we will take a closer look at the individual aspects of the FIBO Group offer, we would like to present in this first section the experiences we have gained during our test. All in all, this online broker left a very positive impression on us. This is only partly due to the well-structured range of CFDs, which is extremely extensive in the equities area. Because even beyond that, customers can count on a good selection, competent support and many additional functions. A good selection results thereby among other things within the range of the available trade platforms.

Apart from the two versions four and five of the MetaTrader also two further interesting versions can be used with the cTrader as well as the Myfxbook Autotrader. The cTrader is a special offer for experienced traders who use special strategies such as scalping in their daily trading or who require special analytical support. Myfxbook also offers additional perspectives in the area of automated trading. However, FIBO Group is not only suitable for traders with professional requirements. With the MetaTrader, a very common software can be used, which is easy to use due to its intuitive design.

However, our experience has shown that FIBO Group concentrates more on traders with experience. We have not found any entry prices that explain the principle of CFDs and trading with them. This does not mean, however, that there are no offers of support. Especially in the area of information about market events, support is offered with various features, such as an economic calendar. And also different videos, which are available in a YouTube channel, concern themselves with the offer and possibilities based on it in the trade. Another word about the language in which the offer is available. In principle a German version of the web page can be stopped and many contents are available also in German language. However, some areas have not yet been translated, so that knowledge of English is an advantage. The Online Broker FIBO Group also has various international branches, including one in Munich. Here it is in principle also possible to fall back on a German-language support if there should be problems or enquiries about the FIBO Group’s offer.

FIBO Group in check: Fraud or serious?

Again and again we ask traders to not only consider the features such as trading offer, conditions and support options, but also the seriousness of a provider when choosing a suitable Forex broker for . Our experience has also shown that dubious representatives often do not survive long on the market, since unfair behaviour towards customers quickly gets around. If individual offerers acquired thus only once a bad call, it is usually very heavy for these to hold the customers and/or new to find.

Principally can be thus already assumed due to the self-interest of on-line brokers of it, which is dealt fair with the customers. Nevertheless it has paid off so far still to set also on the own impression. But this is absolutely positive due to our experience. The Online Broker FIBO Group has shown in the context of our test a very serious way of working and has given no reason to suspect that fraud or rip-off must be expected. Thus announced conditions are also kept, just as financial transactions around the trading account are settled reliably.

Broad offer with the account types and basic values

After we clarified that FIBO Group is a respectable representative, now the concrete offer is to be taken more exactly into the view, which offers itself to the traders in the trade. And here the customers can adjust themselves indeed to a very broad selection at different values. The range also includes a choice of different account models. We would now like to address both aspects separately.


Four account models to choose from

In our experience, two criteria are decisive when deciding which trading account to use for trading at FIBO Group. On the one hand, the trader must consider whether he wants to trade on the basis of commissions or on the basis of spreads. In addition, the choice of account determines which software or platform can be used for trading. A total of four different variants are available. With regard to the minimum amount of trading capital that must be available on the account, there are only minor differences. All account types are also No Dealing Desk models. This means that trading is based on real market conditions, with the FIBO Group acting only as an intermediary between the market and the trader.

For trading with the account type MT4 NDD, a minimum deposit of 300 US dollars is required. Other currencies are not supported in this version. With this account, trading is based on variable market spreads, whereby spreads of 0.0 pips are possible. However, a commission of 0.003 percent of the trading volume must be charged on each transaction. A maximum leverage of up to 1:400 can be used. However, there is a small limitation in the selection of currency pairs. Of the total of 42 available pairs, only 32 are available for trading. In addition, the “MT4 NDD No Commission” account type can also be used to trade on a pure spread basis and without commission. Here, too, the MetaTrader 4 is used as a platform, with spreads starting at 0.8 pips. There are also several currencies to choose from for account management, including the euro and the Swiss franc. With a leverage of up to 1:400, you can access 38 currency pairs and many other underlying assets.

The third account is the “cTrader NDD”. The main feature is of course the corresponding platform. Here, too, trading is carried out on a commission basis, with fees also amounting to 0.003 percent of the trading volume. The maximum leverage that can be used here is only 1:100, whereby the market spreads apply. As fourth and last possibility the account “MT5 NDD” is offered, where at least 500 US dollars must be deposited, in order to open the account.

First here the full selection of the 42 currency pairs can be accessed. Fees are also calculated on a commission basis, with a flat fee of 30 US dollars for a trading volume of up to one million US dollars. The available account currencies are US dollars, Swiss francs and euros. The leverage is 1:100 for precious metals and 1:33 for precious metals. In principle, it can be concluded that the first two account versions are intended for beginners, while the last two versions were designed primarily for experienced traders with high demands. In any case, we recommend testing the functions of the respective platforms first with the help of a demo account.

Wide selection of underlying securities for trading

Now we would like to consider the actual range of underlying securities that can be used in trading. In addition to a total of 42 currency pairs, commodities and energy stocks can also be traded. With the currency pairs we found a good mixture from the internationally dominating Majors, thus US Dollar, euro, Japanese Yen and pound sterling as well as a number of further currencies. Gold and silver as well as oil and gas can also be traded via all available accounts, whereby specific conditions apply in each case. Agricultural products, on the other hand, are not available for trading.

The range of equities is also extremely extensive. A total of around 8,000 underlying securities can be accessed in trading. This alone makes it clear that trading strategies based not only on internationally known and large companies are possible, but also on lesser known, smaller stocks. In the Stocks segment, there are not only equities, but also a number of indices and ETFs. All in all, this offer enables traders to pursue every conceivable strategy. It can be focused on specific industries, but also on individual regions. The available leverage that can be used in trading also depends on the account version used.

No bonus offer for new customers

The boom that private trading has experienced in recent years is probably also responsible for the fact that a number of additional providers have entered this segment. Positive is thereby natural that one stands as a Trader before a large selection of different offerers. Often, however, one cannot avoid the impression that these providers differ only minimally from each other. In order to stand out in the grey mass of the many providers, many online brokers have focused on attracting customers’ attention with different bonus offers.

In and out a bonus is also used to distract from weaknesses in the offer. Even if these two phenomena are not all-inclusive, traders should always keep in mind that a bonus is not exclusively positive. On the other hand, a missing bonus should not immediately be considered an exclusion criterion when looking for a broker. Because then FIBO Group would also immediately fall out of the grid of possible online brokers, since no corresponding bonus is offered. Especially traders who see their future in the area of stock trading might miss a good opportunity.

In- and outpayment by credit card, e-wallet or bank transfer

Was a demo account opened at FIBO Group where virtual capital is automatically made available for trading. In order to enter real trading, however, it is necessary that a corresponding amount is transferred to the trading account. At FIBO Group, there are various options available. Our experience has shown that the easiest way to do this is to pay money into the trading account using a credit card. Both credit cards and debit cards from Visa, MasterCard, Maestro, SOLO, Switch, Delta, Diners Club and Laser can be used.

The transfer is then processed via the Cypriot payment system Safecharge. No fees are charged. In our experience, this is both a reliable and a very fast method. The credit, which was transferred by credit card, is already available after a very short time on the trading account. A second option is to use Internet-based payment systems. The services of WebMoney, OK Pay and Neteller are available here.

In some cases fees are due and there are also differences in the time span between the triggering of the transactions and the receipt on the account. With WebMoney you have to reckon with about one hour, with Neteller the booking to the online account normally takes place on the same working day. The third variant that can be used for deposits is the classic bank transfer. The fees can be up to 35 US dollars depending on the bank. This version is also less recommendable in terms of duration, as it takes three to five days until the money can actually be used in retail. The same methods that are available for the deposit can also be used for the payout of trading capital from the trading account. Here, too, corresponding fees or delays are to be expected. For example, credit card withdrawals via Safecharge can take up to 10 days, whereby a fee of 0.50 US dollars is to be expected.


Wasn’t the very large amounts of money necessary to open an account with the FIBO Group, but the security of the deposits nevertheless represents an important aspect. This is of course all the more true when trading larger amounts and the balance on the trading account is to be protected from loss. In the case of FIBO Group, traders can rely on an acceptable standard. It is an online broker with its headquarters in Cyprus. As Cyprus is part of the European Union, the company is subject to regulation.

CySec is specifically responsible for this. And since there is also a branch office in Germany, the German BaFin is also responsible for the control of FIBO Group. For the traders this means that they can rely on the fact that minimum standards for the protection of the customer interests and their funds are kept. For example, online brokers based in the EU are not permitted to jointly manage corporate funds and customer deposits. Instead, customers’ credit balances are deposited with reputable banks. This means that customers’ credit balances cannot be attacked even in the event of the broker’s insolvency. In addition, they are subject to the European deposit guarantee system.

Good support offer

With regard to customer service, FIBO Group traders can also rely on a comfortable standard. In addition to an international support number that can be contacted around the clock, there is also a service specially designed for German customers. They can contact an employee in the Munich office directly. In addition, FIBO Group is also present via various social media and can be contacted via its Facebook page, for example. So there are a number of ways to get in touch if you have any questions or are unclear. This also includes a live chat, which is basically available around the clock.

Many offers can be used via the website

With regard to the FIBO Group website, we have already complained that the translation of the content into the German language is not completely complete. So the visitor comes across English language contents again and again, which limits the user friendliness a bit. Nevertheless, there is a lot of information and support available. This includes a regular webinar where an expert talks about a current trade topic, makes market assessments and makes concrete recommendations. Beyond that also further inquiries can be placed thereby.

Mobile App

To each platform, which is made available for the trade, also a mobile version can be used with FIBO Group. Suitable app versions can be downloaded for the two current systems iOS and Android. Meanwhile the mobile versions are hardly to be distinguished regarding their user friendliness and the applicable instruments from the conventional platforms. In principle, it is therefore possible to use the wide range of FIBO Group products and the numerous support options on the move.

Fazit – Many options for trading

With FIBO Group, traders have an online broker at their disposal with whom they can satisfy professional requirements in particular. In addition to the MetaTrader 4 platform, cTrader and MetaTrader 5 are also available. This allows numerous different strategies as well as special analysis techniques to be used. In combination with the very well-balanced and very broad range of underlying securities in the area of currencies and equities, there are so many opportunities for trading. Another positive aspect is that it is a serious and reliable trader who is regulated according to EU regulations. Fraud or rip-off are therefore not issues that traders at FIBO Group have to deal with.