FIBO Group Holdings Limited
FIBO Group Holdings Ltd is a financial company registered in the Republic of Cyprus and licensed by the Cyprus Securities and Exchange Commission (CySEC). It is one of the brokers with a long history that offers online trading and maintains offices in Europe and Asia.
FIBO Group offers for trading more than 40 currency pairs, commodities and shares.
The company offers the popular platforms Metatrader 4 (MT4) and MT5, which can be launched from PC or smartphone and web-based cTrader. MetaTrader 4 has a wide range of technical indicators, news feeder, advanced charts, automated trading and a possibility of custom indicators using built-in MQL4 editor.
There are several account types available:
- MT4 NDD provides low floating spreads, no re-quotes, high execution speed and ample liquidity. The typical spread for EUR/USD is 0.3 pips but there is some commission for each deal;
- MT4 NDD No Commission account has the same properties as MT4 NDD but there is no commission and the typical spread for EUR/USD is 0.8 pips;
- MT5 NDD account is intended especially for those customers who do intraday scalping and use expert advisors automated trading. The typical spread of EUR/USD is 0.3 pips and there is some commission for each deal;
- cTrader NDD account has the same properties as MT4 NDD but on another web-based trading platform.
Although the No Dealing Desk technology is implemented here, slippage exists. Broker claims that ‘under normal conditions’ this slippage doesn’t exist or is small. Stop loss orders are non-guaranteed and can be executed a worse than expected price.
The minimum deposit is USD300 and the maximum leverage is 1:400 applicable in forex trading and this could increase the risk of loss. However, there is negative balance protection and clients cannot lose more money than they have in their account. The broker closes all open positions, if the account equity falls below 50% of the necessary margin.
Clients should be aware of that FIBO Group may increase the necessary margin from 1% to 3% during weekends and public holidays.