FiboGroup Review

The FiboGroup specializes in online trading of Forex and CFDs. CFD stands for Contracts for Difference, which is a contract between a buyer and seller stating that the difference between a current value of the asset and the value during the contract will be paid by the buyer.  We’ve taken a look at this new Forex broker and recorded our impressions in the FiboGroup review below.

One of the first things we noticed is that when visiting Fibogroup.com, no mention of regulation is made, but Fibogroup.eu does seem to be regulated by CySEC.  We found this to be a bit unusual and slightly alarming. When trading with FiboGroup you are able to begin with a demo account and to practice trading Forex and CFD markets. On their website, which is where one would open an account they have a beginner to Forex section with a decent amount of information about Forex, markets, what to do, and how to be successful.

The trading conditions at FiboGroup are decent though not stellar, with leverage up to 1:200, and variable spreads.  The company does offer ECN trading with a minimum deposit of $1000 and a leverage of 1:100.  However, if you’re looking for ECN trading, you can find other ECN Forex brokers that have a much lower minimum deposit, something we’d highly recommend if you’re new to the Forex world.  The only trading platform available from FiboGroup at the moment is the MT4 platform.

FiboGroup provides company news and market news live streaming on their homepage which is a great way to keep on top of the Forex world. FiboGroup provides many platforms for trading Forex, main one being the MetaTrader 4 platform. FiboGroup has a MetaTrader5 platform which is currently available only for demo accounts. A cool feature to the platforms provided by FiboGroup is the vast variety of the mobile trading options from your iPhone, Blackberry, and other smart-phone devices. There is also a multi-terminal platform where you can have many accounts running at the same time.  Although these offerings aren’t specifically unique, they are not yet offered by all Forex brokers, so traders looking for mobile trading may find what they need here.

While FiboGroup provides great information and a clear understanding of trading with them in the Forex and CFD markets, they only offer account funding four currencies; EUR, USD, CHF, and GBP. The website itself is available in English, German, Russian, Spanish and Farsi.