FiboGroup
Disclaimer: This information should not be distributed or used in any country where it would violate local laws or regulations.
Pros and Cons
- Low minimum deposit
- Wide range of trading assets
- Advanced market analysis tools
- Comprehensive educational resources
- No deposit or withdrawal fees
- Strong regulatory oversight
- Excellent customer support
- Limited proprietary platform
- No ZuluTrade
- Not available in some African countries
Overview of FiboGroup
FiboGroup, also known as Financial Intermarket Brokerage Online Group, is a globally recognized brokerage firm with a long history in the financial markets.
Founded in 1998, FiboGroup has established itself as a reputable broker, offering a range of trading services for both beginner and experienced traders.
Known for its emphasis on transparent trading conditions, a variety of account types, and regulated environments, FiboGroup has expanded its services to cater to the African market.
This review provides an in-depth look at FiboGroup’s offerings, focusing on features such as its trading platforms, account types, available instruments, regulatory background, and suitability for African traders.
Open a free accountRegulation and Safety
As a well-regarded broker, FiboGroup prioritizes regulatory compliance and operates under multiple jurisdictions to enhance client security.
FiboGroup is regulated by the Financial Services Commission (FSC) in the British Virgin Islands and the Cyprus Securities and Exchange Commission (CySEC). These regulatory bodies ensure that FiboGroup adheres to strict standards in terms of transparency, financial reporting, and client fund protection.
Trading Platforms
FiboGroup offers a robust selection of trading platforms that cater to a wide range of trading preferences and technical needs.
The main platforms available include MetaTrader 4 (MT4) and MetaTrader 5 (MT5), as well as the proprietary FiboGroup cTrader platform.
Each of these platforms offers unique features that enhance the trading experience.
MetaTrader 4 (MT4)
MetaTrader 4 is a popular choice among traders for its user-friendly interface, advanced charting tools, and the ability to use Expert Advisors (EAs) for automated trading.
MT4 supports forex trading, CFDs, and commodities, making it a versatile platform for those who trade multiple asset classes.
MetaTrader 5 (MT5)
The MetaTrader 5 platform is an advanced version of MT4, providing additional timeframes, more order types, and an expanded range of trading instruments.
It’s ideal for traders who seek enhanced analytical tools and want to diversify their trading portfolio.
cTrader
cTrader is another sophisticated trading platform provided by FiboGroup. It is designed for fast order execution and offers an intuitive layout, allowing traders to customize their trading interface.
This platform is suitable for both beginners and advanced traders who need more control over their trading environment.
Account Types and Comparison
FiboGroup offers multiple account types tailored to different trading needs and experience levels.
The accounts differ in terms of spreads, leverage, minimum deposit requirements, and platform accessibility, giving traders the freedom to select an account that matches their trading style.
Cent Account
The Cent Account is designed for beginner traders who wish to practice and gain experience with minimal risk.
This account type offers cent-based currency values, allowing traders to start with a low deposit.
Fixed Spread Account
As the name suggests, this account type provides fixed spreads, making it ideal for traders who prefer stable trading costs regardless of market volatility.
It’s suitable for strategies that require predictable spreads.
NDD (No Dealing Desk) Account
The NDD Account operates without a dealing desk, providing traders with direct access to the market.
This account type is popular among more advanced traders who need fast execution and variable spreads.
| Account Type | Minimum Deposit | Spreads | Leverage | Platform |
| Cent Account | $10 | Variable | 1:1000 | MT4 |
| Fixed Spread Account | $50 | Fixed | 1:400 | MT4 |
| NDD Account | $300 | Variable | 1:400 | MT4, MT5 |
Customer Support and Educational Resources
FiboGroup provides an extensive customer support system tailored to meet the needs of African traders.
Support is available through multiple channels, including live chat, email, and phone.
The broker also offers a wealth of educational resources, such as webinars, tutorials, and market analysis, to help traders enhance their knowledge and skills.
These resources are particularly beneficial for novice traders seeking to understand market trends and trading strategies.
Fees and Commissions
Understanding the fee structure is essential for traders as it directly impacts profitability.
FiboGroup’s fee structure is transparent, and it varies across account types.
For instance, traders using the Fixed Spread Account benefit from fixed spreads, which provide consistent costs, ideal for those trading in volatile market conditions.
In contrast, the NDD (No Dealing Desk) account offers variable spreads and competitive commissions, designed for more experienced traders seeking lower trading costs.
Spreads
Spreads at FiboGroup vary based on the account type and market conditions.
The Fixed Spread Account offers predictable costs with fixed spreads, which can be advantageous in times of high market volatility.
On the other hand, the NDD Account provides access to tighter, variable spreads but may fluctuate depending on the liquidity of the market.
Commissions
FiboGroup charges commissions on certain account types, particularly the NDD accounts.
The commission rates are competitive within the industry, catering to traders who prefer tight spreads over fixed costs.
This commission-based model is attractive for high-volume traders who seek minimal spreads.
| Account Type | Spread | Commission | Minimum Deposit |
| Cent Account | Variable | No | $10 |
| Fixed Spread Account | Fixed | No | $50 |
| NDD Account | Variable | Yes (per lot) | $300 |
Deposit and Withdrawal Methods
FiboGroup offers a range of deposit and withdrawal methods to ensure flexibility for African traders.
Payment options include bank transfers, credit/debit cards, and online payment systems such as Neteller and Skrill.
Each method comes with its own processing time and possible fees, so it’s essential for traders to review the options carefully.
Additionally, FiboGroup ensures secure transaction processing to protect user funds.
Processing Time
Deposit processing times vary depending on the chosen method, with most options processing instantly, except for bank transfers, which can take several business days.
Withdrawals typically take between 1 to 5 business days, depending on the method and verification process.
Trading Conditions
FiboGroup provides favorable trading conditions to meet the needs of both novice and advanced traders.
These conditions are characterized by tight spreads, fast execution, and a no-dealing desk (NDD) environment for certain accounts, allowing direct access to the interbank market.
With leverage options that range from 1:30 to 1:1000, traders can choose leverage levels suitable for their risk tolerance and trading strategies.
Market Analysis and Educational Tools
FiboGroup places a strong emphasis on providing valuable educational resources and market analysis tools to empower traders.
These resources are designed to enhance the trading experience by keeping traders informed about market trends and offering insight into potential trading strategies.
Webinars and Tutorials
Regular webinars and video tutorials are available on FiboGroup’s platform, covering topics from basic forex trading principles to advanced technical analysis.
These resources are particularly beneficial for African traders looking to expand their knowledge and trading expertise.
Market News and Analysis
FiboGroup provides daily market news and analysis to keep traders updated on market events.
These insights help traders make informed decisions and strategize effectively based on current economic conditions and market trends.
Security and Regulatory Compliance
Regulatory compliance and fund security are paramount considerations for any trader, especially those in regions where regulatory oversight may vary.
FiboGroup operates under the regulations of the Financial Services Commission (FSC) of the British Virgin Islands and is also regulated by the Cyprus Securities and Exchange Commission (CySEC) within the European Union.
This regulatory status ensures FiboGroup adheres to industry standards regarding transparency, fund protection, and compliance.
Fund Protection Mechanisms
To enhance security, FiboGroup implements segregation of client funds, meaning that trader funds are kept separate from the company’s operational funds.
This policy helps protect traders’ funds in the unlikely event of insolvency. Additionally, FiboGroup offers negative balance protection, ensuring that traders cannot lose more than their initial investment.
Educational Resources
FiboGroup places a strong emphasis on education, offering various resources to support traders in developing their skills and market knowledge.
This commitment to education is particularly beneficial for African traders, many of whom are new to forex and CFD trading.
Comprehensive Learning Materials
Traders at FiboGroup can access a range of educational materials including articles, tutorials, and detailed guides.
These resources cover essential topics such as forex trading basics, risk management, and advanced strategies, tailored to enhance traders’ knowledge at every experience level.
Trading Webinars
In addition to static resources, FiboGroup hosts periodic webinars led by experienced traders and market analysts.
These webinars are designed to provide live insights into market trends, trading strategies, and technical analysis, allowing traders to gain practical knowledge from professionals.
Conclusion
FiboGroup offers African traders a robust trading environment with a diverse range of account types, secure fund protection measures, and a wealth of educational resources.
With its strong regulatory standing, competitive fee structure, and commitment to client support, FiboGroup remains an appealing option for both novice and experienced traders in Africa.
Its focus on providing a secure and transparent trading experience makes it a suitable choice for those seeking stability and reliability in their trading journey.
Start Trading with FiboGroupFiboGroup Comparison Table
This table provides a comprehensive comparison of FiboGroup with other leading brokers, focusing on key aspects such as demo account availability, minimum deposit requirements, regulatory bodies, trading platforms, leverage options, and payment methods.
| Broker | Demo Account | Minimum Deposit | Regulators | Platforms | Leverage | Payment Methods | Visit |
|---|---|---|---|---|---|---|---|
| FiboGroup | Yes | $50 | CySEC, FSC | MT4, MT5, cTrader | Up to 1:1000 | Bank Transfer, Credit/Debit Cards, E-wallets | Visit FiboGroup |
| xChief | Yes | $100 | IFSC | MT4, MT5 | Up to 1:2000 | Bank Transfer, Credit/Debit Cards, E-wallets | Visit xChief |
| JustMarkets | Yes | $1 | FSA | MT4, MT5 | Up to 1:3000 | Bank Transfer, Credit/Debit Cards, E-wallets | Visit JustMarkets |
| XM | Yes | $5 | ASIC, CySEC, IFSC | MT4, MT5 | Up to 1:888 | Bank Transfer, Credit/Debit Cards, E-wallets | Visit XM |
| FBS | Yes | $1 | IFSC, CySEC | MT4, MT5 | Up to 1:3000 | Bank Transfer, Credit/Debit Cards, E-wallets | Visit FBS |
| RoboForex | Yes | $10 | IFSC | MT4, MT5, cTrader, R StocksTrader | Up to 1:2000 | Bank Transfer, Credit/Debit Cards, E-wallets | Visit RoboForex |
| XTB | Yes | $0 | FCA, CySEC, KNF | xStation 5 | Up to 1:500 | Bank Transfer, Credit/Debit Cards, E-wallets | Visit XTB |
| Exness | Yes | $1 | CySEC, FCA | MT4, MT5 | Up to 1:2000 | Bank Transfer, Credit/Debit Cards, E-wallets | Visit Exness |
| IC Markets | Yes | $200 | ASIC, CySEC | MT4, MT5, cTrader | Up to 1:500 | Bank Transfer, Credit/Debit Cards, E-wallets | Visit IC Markets |
| eToro | Yes | $200 | FCA, CySEC, ASIC | Proprietary | Up to 1:30 (Retail) | Bank Transfer, Credit/Debit Cards, E-wallets | Visit eToro |
| IQ Option | Yes | $10 | CySEC | Proprietary | Up to 1:500 | Bank Transfer, Credit/Debit Cards, E-wallets | Visit IQ Option |
FiboGroup Trading Instruments Comparison
This table offers a comparative overview of the trading instruments available at FiboGroup and other leading brokers, including access to CFDs, Forex, Stocks, Commodities, Cryptocurrencies, Metals, and ETFs.
| Broker | CFD | Forex | Stocks | Commodities | Crypto | Metals | ETFs |
|---|---|---|---|---|---|---|---|
| FiboGroup | Yes | Yes | Yes | Yes | Yes | Yes | No |
| xChief | Yes | Yes | Yes | Yes | Yes | Yes | No |
| JustMarkets | Yes | Yes | No | Yes | Yes | Yes | No |
| XM | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| FBS | Yes | Yes | No | Yes | Yes | Yes | No |
| RoboForex | Yes | Yes | Yes | Yes | Yes | Yes | No |
| XTB | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Exness | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| IC Markets | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| eToro | Yes | Yes | Yes | Yes | Yes | No | Yes |
User Reviews and Opinions
Frequently Asked Questions
What is the minimum deposit required to open an account with FiboGroup?
The minimum deposit required to open an account with FiboGroup is $50.
Does FiboGroup offer a demo account?
Yes, FiboGroup offers a demo account for traders to practice and familiarize themselves with the platform.
Is FiboGroup regulated?
Yes, FiboGroup is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa and the Cyprus Securities and Exchange Commission (CySEC).
What payment methods does FiboGroup accept?
FiboGroup accepts various payment methods including bank transfers, credit/debit cards, Skrill, Neteller, and local African payment options.
Does FiboGroup charge any fees for deposits or withdrawals?
No, FiboGroup does not charge any fees for deposits or withdrawals.
What trading platforms does FiboGroup offer?
FiboGroup offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.
Can I use automated trading systems with FiboGroup?
Yes, FiboGroup allows the use of Expert Advisors (EAs) and other automated trading systems.
Does FiboGroup offer negative balance protection?
Yes, FiboGroup offers negative balance protection to ensure that clients do not lose more than their initial investment.
What leverage does FiboGroup provide?
FiboGroup provides leverage of up to 1:1000.
How can I contact FiboGroup’s customer support?
You can contact FiboGroup’s customer support via live chat, email, phone, FAQ section, social media, in-app support, and support tickets.
Resources
- Official Website: FiboGroup
- Facebook: FiboGroup Facebook
- Twitter: FiboGroup Twitter
- Instagram: FiboGroup Instagram
- LinkedIn: FiboGroup LinkedIn
- YouTube: FiboGroup YouTube
- Review: FiboGroup Review
Get To Know Our Team
The following team members have contributed to writing, editing, reviewing, and verifying the information in this article:
Arnold K.
Arnold is a financial journalist specializing in Forex and brokers. With a Bachelor of Science in Graphic Communication & Advertising, he blends creativity and analytical insight in his work. Arnold is known for his detailed analyses of forex markets and broker performance, emphasizing strategic decision-making in trading. His writing, featured on many platforms, aims to educate readers on navigating forex complexities. Passionate about technology and continuous learning, Arnold remains a trusted voice in the financial sector.
Oluwapelumi A.
Oluwapelumi A. is a financial journalist specializing in brokers and cryptocurrency. He holds a Higher National Diploma from The Polytechnic, Ibadan. As an independent journalist, his work has been published on premier broker sites, providing insightful analyses on broker performance and market trends. His investing style focuses on dollar-cost averaging, and his expertise includes Bitcoin, Ethereum, Cardano, and Algorand. A firm believer in the transformative power of Bitcoin and blockchain, Oluwapelumi shares knowledge on how these technologies can shape the future financial system. Outside of writing, he enjoys meeting new people and exploring new experiences.
Adetola F.
Adetola is a financial journalist and market analyst. He holds a B.Sc. in Educational Media and Technology from the University of Ilorin. Specializing in swing and position trading, Adetola has expertise in currencies, cryptocurrencies, gold, and stocks. Known for his consistent performance and extensive experience, he has trained numerous successful students worldwide. Adetola frequently publishes articles, educational videos, and live market reviews to help others navigate the complexities of financial markets.
Updated as of: March 4, 2025