Fibo Group Review 2020

Fibo Group review
Fibo Group Fees Explained

• Fibo Group doesn't charge withdrawal fees
• Fibo Group does charge a fee for inactive accounts.
• Fibo Group doesn't charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company, brokers may charge clients various fees.

How Fibo Group Fees Compare Against Other Brokers

Fibo Group review
Fibo Group Minimum Deposit

Fibo Group require a minimum desposit of 300 GBP/USD when opening an Fibo Group trading account.

A minimum deposit is the minimum amount of money required by Fibo Group to open a new online brokerage account with them.

Dont be scared off by brokers like Fibo Group charging a minimum deposit to open a trading account. Brokers that charge higher minimum deposits often offer additional premium services on there platforms that are not available for free on other platforms.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make some way, so transaction commissions and other fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

Fibo Group review
Fibo Group Withdrawal Fees

Fibo Group doesn't charge withdrawal fees.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees and processing times.

Fibo Group for example allow you to withdraw your funds to a Payoneer account, a Neteller account, and a bank account via a wire transfer.

Fibo Group review
Fibo Group Inactivity Fees

Fibo Group does charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts, clients may have to fulfill.

If a clients trading account dues not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

Fibo Group review
Fibo Group Desposit Fees

Fibo Group does not charge deposit fees.

Some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee. The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

Fibo Group review
Fibo Group Commission Fees

Fibo Group does charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

Fibo Group review
Trading on Fibo Group web platforms and other applications

Fibo Group is one of the few brokers that offer both of the MetaTrader platforms; MT4 and MT5. To see how the two platforms compare, you can read our comparison of MT4 vs MT5 here.

Fibo Group is one of a handful of brokers that offer the cTrader platform developed for traders. For a list of forex brokers that offer the cTrader platform, check out our comparison of MT4 brokers.

Fibo Group also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move.

See Fibo Group's platforms

Fibo Group Trading benefits :

• Allows scalping
• Allows hedging
• Offers STP
• Low min deposit
• Offers Negative Balance Protection

Fibo Group Trading Accounts Offered :

• Micro account
• Mini account
• Standard account
• Zero spread account
• STP account
• Managed account
• Islamic account

Can I try Fibo Group before I buy?

Fibo Group offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Your capital is at risk

Fibo Group withdrawal and funding methods.

Please note that the list of payment methods below depend on the Fibo Group Entity and the Clients Country of Residence.

Fibo Group offer the below funding payment methods. learn more about Fibo Group

• Credit cards
• Bank Transfer
• Payoneer
• Neteller

How can I start trading with Fibo Group?

When opening a trading account with Fibo Group, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Fibo Group trading platforms here.

Your capital is at risk

Performing trades with Fibo Group

Fibo Group allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As Fibo Group offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.

Fibo Group are one of very few brokers that claim to have no requotes, so you don'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 instruments.

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.

Limiting Your Risk When Trading with Fibo Group Negative Balance Protection

We should say something about negative balance protection with Fibo Group. When trading using leverage an adverse move could result in losing more than your trading account balance at Fibo Group. Your Fibo Group account could potentially become negative. We recommend you making use of negative balance protection. Using negative balance protection ensures your losses will always be limited to the current balance of the money in your account.

Limit Risk When Trading with Fibo Group Stop Loss, Fibo Group Stop Limit Orders

A stop-loss order is an order placed with a broker like Fibo Group to buy or sell once the stock reaches a certain price. A stop-loss is designed to limit a traders loss on a security position.

Most traders need to use stop losses to protect themselves from huge risk unless the trade is hedged against another trade or the trader is not using leverage. Circumstances differ depending on the trade and the markets.

Education resources at Fibo Group

To trade effectively with Fibo Group, it's important to get a have a good understanding of the Fibo Group trading tools and the markets.

Fibo Group offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with Fibo Group.

Take time to look around the Fibo Group platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at Fibo Group

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

Fibo Group have a double AA grade support rating because Fibo Group offer live chat and email support in multiple languages.

Livechat Support at Fibo Group

We tested the Fibo Group live chat and it works well. We sent messages to Fibo Group livechat through their app and website and recieved a response within 30 seconds.

We tested communicating with Fibo Group support in multiple languages in multiple countries. Fibo Group where able to quickly resolve our customer issues.

Email Support at Fibo Group

We sent several emails to Fibo Group and answer times overall were excellent. The fastest response from Fibo Group was less than 15 minutes and the slowest response was 7 hours. Support response times may vary for you with Fibo Group, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall very good email support from Fibo Group.

Phone Support at Fibo Group

Fibo Group does not offer Phone Support.

See how Fibo Group Support Compares Against Other Brokers

What you will need to open an account with Fibo Group

As Fibo Group is regulated by Financial Conduct Authority (FCA), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

Be aware Please kindly note that the expiration date of Proof of address document for different entities under Fibo Group Brand may be different.

• 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 confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore Fibo Group's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

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

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.fibogroup.com/ on 12th August 2018.

Fibo Group review written by Andrew Blumer and Mark Hansen