Established in 1998, the Financial Intermarket Brokerage Online (FIBO) Group is regarded as one of the oldest online brokers around in the online financial trading industry. Regulated by the Cyprus Securities Exchange Commission (CySEC) under the CIF license number 118/10, the FIBO Group specializes in providing online services for forex, futures contracts, vanilla options and stocks to their clients.

Apart from their headquarter in Cyprus, the FIBO Group also maintain satellite offices in several major cities such as Munich, Moscow and Singapore in order to serve their clients’ needs better. With the dedication and emphasis that they have put on their clients, it is not surprising to hear that they have won numerous international awards that bear testimony to the quality of their services.

Trading Platforms

For market access, the FIBO Group provide their traders with 3 different types of trading platforms namely MetaTrader4 (MT4), MetaTrader5 (MT5) and the cTrader.

MT4 Platform

The MT4 platform is the most widely used trading platform for the spot forex and CFDs trading industry. Its popularity is largely due to the fact that the platform is robust but yet easy to use. It also comes with a large selection of tools and is able to execute all types of trading orders. It also supports automated trading and traders can even customize the trading platform with the built-in MQL4 editor. In addition to the comprehensive charting package integrated into the trading platform, the MT4 platform is secured with a 128 bit encryption system.

MT5 Platform

While based on the highly successful MT4 platform, the MT5 platform is an entirely new trading platform that encompasses versatility, high productivity and a distributed architecture. Fully compliant with the most up to date international practices of online trading, the MT5 features high speed execution, fixed floating spreads and competitive commission rates. In addition, the price quotes are quoted up to 5 decimal places.

cTrader

Using cloud based technology, the cTrader lets traders access the currency market via the No Dealing Desk (NDD) technology. Suitable for both beginner traders as well as experienced traders, it let traders trade the forex markets with interbank rates bypassing any middleman. Apart from featuring competitive rates, the cTrader is popular among traders because of its speed. On average, trades just take an average of less than 1 millisecond to clear.

Account Types

With a strong emphasis on fulfilling the trading needs of their traders efficiently, FIBO Group has made allowances for trading accounts that offer instant execution, market execution with and without commissions. The different types of trading accounts consist of:

MT4 NDD Account

• CFD Trading
• Ideal for Intraday Trading and Scalper
• Low Floating Spread
• Market Execution of Orders
• Min Deposit $300
• No Requotes

MT4 NDD No Commission Account

Have the same benefits as the MT4 NDD account except for the following:

• No Commission on Trades Made
• 38 Forex Pairs
• No CFD Trading

cTrader Account

• InterBank Liquidity
• Advanced Trading Platform
• Market Execution
• No Requotes
• Support Mobile Trading

MT5 NDD Account

• Min Deposit $500
• Support Scalping
• Expert Advisors
• Low Floating Spreads
• Deep Liquidity

Commission & Spreads

Commissions and spreads are payable on all trading accounts except those which are designated as “No Commission.” For this type of trading accounts, the spreads are wider. Typically, the minimum spreads for the standard trading accounts starts from 0 pips but for “No Commission” accounts, the minimum spread starts from a minimum of 0.8 pips.

As for the commission payable, they are based on 0.003% of the amount transaction. However for the MT5 trading account, the commission rates are:

• $30 per million transacted (up to $100 million)
• $25 per million transacted (from $100 million to $250 million)
• $20 per million transacted (above $250 million)

Customer Support

For customer support, traders can contact the support team via email at service@fibogroup.eu , fax, live chat or through the telephone at 357 25 105 641. For the benefit of traders, FIBO Group has also made available their website in 4 other major languages apart from English.

Pros

• Award Winning broker
• Competitive Spreads
• Global Operations
• Multiple choices of fast and efficient trading platforms
• Regulated Broker
• Well Established Broker with Flawless reputation

Cons

• No local Telephone support numbers
• No Site Map on the website
• No Bonus Offers
• Spreads not as competitive as ECN Brokers
• No Promotional Offers

Conclusion

With their long history, there is no doubt in anybody’s mind that the FIBO Group is a reliable broker. In addition with their extensive range of products, any trader can be assured that he will be able to find an instrument that he can trade with.