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Fibo Group Review


Fibo Group is a regulated Forex and CFD broker that was established back in 1998. The fact that this broker is regulated by CySEC, coupled with more than twenty years of experience, makes them appear trustworthy from a glance. The company is based in Cyprus, but you’ll find that they have offices in Vienna, Limassol, Singapore, Moscow, Munich, Kiev, and Astana. If you decide to open an account with this broker, you’ll have six different account types to choose from, which means there’s a lot of information to cover. Keep reading to find out everything you’ll need to know if you’re considering opening an account.

Account Types

Fibo Group actually offers several different account types, which provides traders with a diverse selection. The available account types include MT4 Cent, MT4 Fixed, MT4 NDD, MT4 NDD (No commission), cTrader NDD, and MT5 NDD. The minimum deposit for the majority of the account types is below industry average, with the MT5 account being the only exception. All account types offer high leverages and share the same minimum trade sizes, but maximum trade sizes and stop loss levels differ. Spreads start at 0 pips for three account types and there are also three commission free options. MAMM accounts are offered for the MT4 Fixed and MT4 NDD regular and commission free account types. Swap-free Islamic accounts are offered as well. There’s a lot of information to cover for each account type, so stay with us if you’d like to find out more.


The MetaTrader 4 platform is exclusively offered to those operating from any of the MT4 account types. (MT4 Cent, MT4 Fixed, and the regular and commission free MT4 NDD accounts) MetaTrader 4 is one of the most popular CFD and FOREX trading platforms in the world. There are a wide range of instruments and indicators for technical analysis, news feeds, on-line quotes and charts available within the program. MT4 can be downloaded on PC or mobile via the App Store or Google Play. You can also access MT4 from the WebTrader.

The cTrader account type is restricted to cTrader platform, which provides access to trading on the currency exchange markets using the NDD (No Dealing Desk) technology for professional traders and for newbies as well. It allows users to trade with the international banks directly, avoiding any intermediaries in the live trading atmosphere. Unsurprisingly, the MT5 account is limited to the MetaTrader 5 platform. MT5 is less preferred than its predecessor, but for many, this is the favorite option. With MT5 growing in popularity, this may be a choice worth consideration, especially since developers set out to improve the original. The platform can be downloaded via the same methods as MT4.


The highest leverage option is 1:1000. This is significantly higher than most other options, but this choice is reserved for the MT4 Cent account type only. The regular and commission free MT4 NDD accounts, the cTrader account, and the MT5 account types all have a maximum leverage of up to 1:400. This is still higher than average, but we do not recommend choosing such a high leverage unless you’re experienced. Still, having the option to go this high makes Fibo Group stand out from the crowd. Finally, the maximum leverage for the MT4 fixed account tops out at 1:200. This may seem much lower than the other options but will be satisfactory for many professional traders since the most commonly chosen leverage is actually only 1:100. There are also a few rules that limit the maximum leverage for certain assets. On the MT4 NDD commission free account type, cryptocurrencies will be limited to 1:10. Also, on the MT5 account type, the maximum leverage for metals is limited to 1:00.

Trade Sizes

The minimum lot size for all account types is listed at 0.01 lot, or one micro lot. The maximum trade sizes differ based on account type and asset specifications. While all accounts share the same minimum trade sizes, you’ll also find that there are two separate stop out levels. Below, you can find which category each account belongs to.

20% Stop Out Level: MT4 Cent, MT4 Fixed, cTrader

50% Stop Out Level: MT4 NDD regular and commission free, MT5

Note that the website does not list any margin call levels. If you reach the stop out level, your trades would be closed by the system automatically. The best thing to do is log into your account often and keep a close eye on any active trades to ensure that this does not happen. If you get close to the stop out level, consider taking action, like depositing more funds or closing some positions.

Trading Costs

There are no commission fees on the MT4 Cent, MT4 Fixed, and MT4 NDD no commission account types. Both the regular MT4 NDD and cTrader accounts charge relatively low commissions at 0.003% from the amount of a transaction. The highest commission fees are reserved for the MT5 account, but the charge is only 0.005% from the amount of a transaction. In addition to trading costs, you’ll find that this broker does charge swaps on positions that are left open overnight, unless you’ve opened a swap-free Islamic account. There are no swap fees on CFDs. In addition to commission fees and swaps, the broker would also profit from spreads, which is the difference between the bid and ask price on assets. Fortunately, the spreads are low on all account types.


Fibo Group offers more than sixty currency pairs, twenty plus CFDs, spot metals, and cryptocurrencies. CFD options include commodities like oil and sugar, in addition to eight indices. Spot metal options include gold and silver, both of which are available for trading with low spreads. We were also happy to note that cryptocurrencies are included in the list, since this something many other brokers are missing. The cryptocurrencies offered include popular items like Bitcoin and Ethereum, just to name a few. If you’re interested in viewing all of the available assets, you can navigate to the ‘Products’ section of the website and choose a category.


The best spreads are reserved for the MT4 NDD, cTrader, and MT5 account types, all of which have spreads starting from 0 pips. You can’t do better than this, so these account types are attractive in that regard. The minimum spread on the MT4 Cent account is 0.6 pips, while the minimum is 0.8 pips on the MT$ NDD commission free account. Both of these options are actually lower than average. The highest spreads are from 2 pips on the MT4 fixed account. This option is the least attractive since it is actually above average, but keep in mind that this account type does not charge commission fees.

Minimum Deposit

If you choose the MT4 Cent account, there is no minimum deposit requirement, which is competitive when compared to the industry average of $100 USD. The MT4 Fixed, both MT4 NDD accounts, and the cTrader account type all have a deposit requirement of $50, which is still lower than average. If you’d like to operate the MT5 account, you’ll need to make the largest deposit requirement of $1,000 USD. This amount may seem high to some, but others will not find this requirement challenging. If you can’t meet that deposit, you’ll still have five account types to choose from.

Deposit Methods & Costs

Available deposit methods include bank wire, Credit/Debit card, PaySafeCard, BitPay, Neteller, WebMoney, RegularPay, Bitcoin, Skrill, CashU, FasaPay, DixiPay, and Payz. We were happy to see so many methods available and even happier to find some of them are fee free. You will find that in addition to the fee free options, some methods do charge reasonable commission fees and a few charge higher fees. Be sure to check the specific methods you’re interested in below.

  • Fee Free & Instant: Credit/Debit card, PaySafeCard BitPay, Neteller, WebMoney, RegularPay(Instant within working hours), and Payz.
  • Bank Wire: Available within two to five business days. Bank fees typically range from 35 USD to 50USD.
  • Bitcoin: Available instantly. May charge commission fee from their end.
  • Skrill: Instant deposit with 3.9% commission fee
  • CashU: Instant. Commission fee of 7%.
  • FasaPay: Available instantly within working hours. Commission fee of 0.5%. Maximum fee is $5 USD.
  • DixiPay: Available instantly. Commission fee of 0.5%.

Withdrawal Methods & Costs

All of the deposit methods are also available for withdrawal. Unfortunately, there are no fee free options, so you’ll want to compare the methods below to choose a suitable withdrawal method.

  • Bitcoin: 0.001 BTC + Bitcoin commission
  • DixiPay: 0.5%. Maximum fee is $5.
  • Skrill and QIWI: 1%
  • Neteller: 2%. Maximum fee is $30 USD.
  • Credit/Debit Card: 2.5% + 1.5 EUR
  • RegularPay: $10 USD or equivalent in base currency
  • Bank Wire: Bank Fees (Typically 35 USD – 50 USD)
  • WebMoney: 0.8%. Maximum fee is $50 USD.

You’ll notice that Bitcoin, DixiPay, Skrill, and QIWI have the lowest withdrawal fees. Since DixiPay’s withdrawal fee caps at just $5, you may want to consider this less popular method as a way to avoid the higher withdrawal fees. RegularPay’s $10 minimum may seem high, but it’s much better than $50 withdrawal fee you may incur from your bank. You’ll also notice that credit/debit card charges one of the higher fees with no cap. Since higher fees will cut into your profits, it’s important to choose a good withdrawal method that doesn’t charge fees that are too high. It’s also important to consider the amount you’re withdrawing, since higher percentage fees will take much more from larger withdrawals.

Withdrawal Processing & Wait Time

Bank Wire is processed within two to five business days and wired no later than three days after the application has been received, making it available within seven days. Credit/Debit card withdrawals are processed within business days, but no later than 2 days after the withdrawal request has been made. These withdrawals are usually received within several minutes but can take up to 2 or 3 days maximum. The transfer time for RegularPay is 10 days. Skrill offers automatic withdrawal on Cent accounts but is processed within one working day for the other account types. QIWI is processed within working days, no later than two days after the request is received and transferred immediately after. Neteller, DixiPay, Bitcoin, and WebMoney are also processed within one working day, or available the next working day if it is a weekend.

Bonuses & Promotions

Currently, there are not any ongoing promotions for Fibo Group’s clients. This is a little disappointing, but we’d like to point out that a section of the website is actually devoted to promotions. This makes it seem as though this broker does offer opportunities and simply may not have had anything going on at the time we checked. If you do decide to sign up, be sure to check this section of the website in case anything new has been added.

Educational & Trading Tools

Under the Analytics section of the website, you’ll find Market Analysis, Long-term Forecasts, an Economic Calendar, and information on interest rates, financial instruments, and shares. We also consider demo accounts to be an excellent educational tool that is worth mentioning. It does seem as though the website could offer a bit more in the way of education, but this section is a bit more detailed that what you’ll find with other brokers. You’ll also find a variety of tools built into the MT4 and MT5 platforms.

Demo Account

This broker actually offers demo accounts that mimic all six of their specific account types. Since the demo account options are so realistic, this could be an excellent way to choose an account type if you can’t make up your mind. Even if you already have an account type in mind, this is a great way for inexperienced traders to practice without risking real funds. If you’re interested in opening a free demo account, you can do so by navigating to the ‘Products’ section and selecting ‘Types of Trading Accounts’. From there, you can select the ‘Open Demo Account’ option located beside each account type.

Customer Service

Customer support is available 24 hours a day, Monday through Friday. To get in touch with staff, you can use LiveChat, phone, or email. LiveChat is the quickest way to contact an agent within business hours. If you’re interested in calling for support, there are a few numbers listed below. Note that one number is specifically for the dealing desk, so you’ll only want to call that number for trading purposes. Email is also a good choice, especially for inquiries you may have outside of business hours.

Email: service@fibogroup.com


  • +43 (1) 267 56 44
  • +43 720022355
  • Fax: +43 (1) 253 672 23 901
  • Dealing Desk: +43 720022377(Only for trading)

Countries Accepted

On their website, Fibo group states that they do not provide service to residents of Australia, Austria, Belgium, Great Britain, Iraq, North Korea, and the USA. However, we found the statement about the US to be contradicting, as we were able to successfully register an account from our US based offices. It can be difficult to find a broker if you’re located in the United States due to strict regulation laws, but you should always be sure to check the account opening page before taking no as an answer. If you’re from one of the other restricted countries and you’re interested in this broker, you’ll also want to test out the accounts opening section of the website.


Fibo Group is a regulated broker offering six specific account types. Accounts come in all shapes and sizes, with commission and swap-free options. Spreads on all account types except for one are low, especially considering spreads start from 0 pips for three of the different account types. The deposit minimums are $50 USD, or less, for five of the account types, but you’ll have to make a larger deposit of $1,000 if you’re interested in opening the MT5 account and trading from that platform. Speaking of platforms, this broker actually offers three separate options, while many other brokers feature only one. Leverage options are also competitive on almost every account type, with the highest option being 1:1000 on the MT4 Cent account.

Deposits can be made through a variety of methods, several of which are fee free. While most of the facts have been positive so far, we do want to get into the biggest drawback to choosing this broker, which would be the withdrawal process. There are several methods to choose from, but none of these methods are fee free. Although some of the methods do come with low fees, some popular methods, like bank wire and credit/debit cards come with fees that are a bit high. Also, deposits take longer to process than with other brokers. Some are available within one business day, but others can take up to a week to be received.

Some will be happy to know that the website offers demo accounts that actually mimic all six of the real account options, so this could be helpful for testing different account types. If you have any questions that haven’t been answered, you can also reach out to support 24 hours a day via LiveChat, phone, or email. It generally seems as though one could really benefit from the leverages, spreads, commission free options, and low deposit minimums with this broker. However, one would also have to accept the withdrawal fees and plan their withdrawal requests ahead of time if in a hurry.


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