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.
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.