FIBO Group Account Types

FIBO Group offers six different account types. The MT4 Cent account, MT4 Fixed account, MT4 NDD account, MT4 NDD account, cTrader NDD account and a MT5 NDD account. All of their account has a minimum lot of 0,01.

Overall Rating

• 3.0/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 50

Regulators

CySEC, FSC BVI

Trading Platform

MT4, MT5, cTrader

Crypto

Yes

Total Pairs

38

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

Choose your quick section of our FIBO Group Account Types below.

Fibo Group Account types – 9 key points quick overview:

1. Fibo Group Overview
2. Fibo Group Account Types
3. Fibo Group Account Features
4. Fibo Group Demo Account
5. Fibo Group Islamic Account
6. Fibo Group at a glance
7. Pros and Cons
8. Conclusion
9. Frequently Asked Questions

Fibo Group is well-regulated by CySEC to offer a secure trading environment and will suit the needs of beginner and experienced traders alike.

Fibo Group Overview

Fibo Group has a long operational history spanning back to its establishment in 1998. The broker is well-regarded in the Forex trading industry with award-winning services and trading conditions.

Clients of Fibo Group enjoy access to the most popular asset classes on the industry leading MT4 and MT4 platforms, as well as the cTrader platform for algorithmic trading. Fibo Group is well-regulated by CySEC to offer a secure trading environment and will suit the needs of beginner and experienced traders alike.

Fibo Group Account Types

There are several trading accounts which clients can open with Fibo Group. These consist of the MT4 Cent, MT4 Fixed, Mt4 NDD, Commission-free MT4 NDD, cTrader NDD and MT5 NDD. Added to this, traders can also open a demo account for access to the MetaTrader 4 platform, while an Islamic, swap-free account is available to traders of the Muslim faith.

The first stage of registration with Fibo Group is creating your Client Area. To do this, you need to indicate your email address and phone number in the sign-up form on the site. An email will be sent to the address you specified with your username and password to access your Client Area. Save it.

You will receive emails with access to newly opened trading accounts, notifications about the status of your accounts, and information about notable events affecting the forex market. To get access to all the features of forex trading, you are supposed to verify your account and confirm your identity.

You can use all the features of forex trading, invest, withdraw your profits, or become our partner only after you have fully verified your account, which includes confirmation of your email, phone number, and identity.

To verify your email, the Fibo Group accounts department will send you an email to the address you indicated while signing up. Click the link in the message to confirm your e-mail address. To confirm your phone, you will be sent an SMS code. Enter this code in your Client Area. If you have not received an SMS, report your issue to Customer Service department over live chat on the website.

To confirm your identity, you need to fill out a form and upload copies of documents (scanned copies or photographs). Once confirmed you will be able to:

Open live and demo accounts

Use bank transfers and cards to make a deposit

Invest in Managed accounts (PAMM)

Open Managed accounts (PAMM)

Withdraw profits from trading and investment accounts

Sign up as an IB partner or PAMM agent of FIBO Group

Fibo Group Account Features

MT4 NDD Account

NDD (No Dealing Desk) technology that is implemented on MT4 NDD accounts grants an opportunity to trade with prices from the largest liquidity providers for world electronic networks.

This technology may be useful to traders who prefer intraday trading (scalping), especially on news releases that increase the volatility of the market.

MT4 Cent Account

The MT4 Cent Account is perfect for traders who are just learning how to trade Forex and require access to the minimum possible trading volume.

The important advantages of the MT4 Cent Account would be the low floating spread from 0.6 points, deposits starting from 0 cents, the lack of risks and fast withdrawal of funds.

MT4 NDD No Commission Account

The NDD (No Dealing Desk) technology that is implemented on the MT4 NDD accounts allows users to access prices from the largest liquidity providers for world electronic networks.

This technology may be worthwhile to those who prefer intraday trading (scalping), especially on news releases that increase the volatility of the market.

MT4 Fixed Account

On MT4 Fixed accounts Fibo Groups acts as a market maker, providing quotes with fixed spreads starting from 2 pips.

Traders that prefer expert advisors will prefer this account type as long as the fixed spreads allow them to test a strategy and apply it to automated trade. This is because the customization ability of expert advisors is based on the price history where the “interval” between bid and ask is constant.

MT5 NDD Account

MT5 NDD accounts are designed to be used on the popular MetaTrader 5 platform.

The account is well suited to intraday scalping and EA automated trading. Moreover, it has a useful “market depth” instrument which provides traders with online market conditions.

cTrader NDD Account

cTrader NDD accounts are like the MT4 NDD accounts but on another trading platform.

On cTrader NDD accounts No Dealing Desk technology is applied, which will afford users the ability to trade directly with the world’s greatest liquidity providers. cTrader is a user-friendly and flexible trading platform.

Fibo Group Demo Account

The demo account from Fibo Group will grant users access to the MetaTrader 4 server. This is an excellent opportunity for new traders to test out the platform’s software features within the trading conditions provided by the broker.

Fibo Group Islamic Account

To open an Islamic account traders should start by applying for a swap-rated account. Once this account has been created, they can apply for Islamic account status. They will likely have to produce supporting documents to confirm their religious status.

The “Islamic Account” service can be provided both for new customers and for already existing customers (this requires a request written to the Customer Service Department by e-mail: service@fibogroup.com).

The service is only available for MT4 Fixed accounts. Also known as ‘no swap accounts’, Islamic trading accounts allow Muslims to engage in online forex trading in compliance with Sharia law.

With 25% of the world’s population practicing the Islamic faith, Islamic forex trading has continued to gain popularity worldwide. Essentially, an Islamic forex trading account charges no swap or rollover interest on positions held overnight in the forex market. An administration fee is, however, charged on some accounts to open positions.

Fibo Group at a glance

Overall Rating

• 3.0/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 50

Regulators

CySEC, FSC BVI

Trading Platform

MT4, MT5, cTrader

Crypto

Yes

Total Pairs

38

Islamic Account

Yes

Trading Fees

Low

Account Activation

24 Hours

Pros and Cons

Conclusion

Fibo Group is a well-regulated and broad-reaching Forex broker that offers an attractive partnership programme for Introducing Brokers. However, Fibo Group does not offer any additional bonuses or promotions.

FIBO Group offers six different account types. The MT4 Cent account, MT4 Fixed account, MT4 NDD account, MT4 NDD account, cTrader NDD account and a MT5 NDD account. All of their account has a minimum lot of 0,01.

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You might also like: FIBO Group Demo Account – Step by Step

You might also like: FIBO Group Fees and Spreads

You might also like: FIBO Group Islamic Account Overview

You might also like: FIBO Group Minimum Deposit

You might also like: FIBO Group Sign up Bonus

Frequently Asked Questions

Can South African traders open an account with FIBO?

Yes, this broker does accept traders who are residents of South Africa.

What are the different account types offered by Fibo Group?

Account types incl: MT4 Fixed, Mt4 NDD, MT5 NDD, MT4 Cent, cTrader NDD and Commission-free MT4 NDD.

How many instruments can I trade with Fibo Group?

Fibo Group provides 38 currency pairs as well as spot metals on the EU site. Global clients can trade a wider range of forex, as well as over 20 CFDs on major indices and commodities, such as the FTSE100 and crude oil. The list includes 9 CFDs on cryptocurrencies, plus a range of shares.

Which platforms are supported by Fibo Group?

MetaTrader 4, MetaTrader 5 and cTrader.

Does Fibo Group offer leverage?

Yes. The maximum leverage available is 1:1000 in the MT4 Cent account, but for most other account types, the maximum leverage is 1:400. For EU clients, leverage is available up to 1:50 for standard traders and up to 1:400 for professionals.

What spreads can I expect with Fibo Group?

Fibo Group provides both fixed and floating spreads which begin at 0.3 pips for EUR/USD and 1 pip for major indices, including NASDAQ. The gold spread is around 0.5 USD and crude oil is 8 cents.

Does Fibo Group charge commission?

Yes. Commissions depend on the account type, as some are offered commission-free. These start from 0.003% from the amount of the transaction.

Are there additional charges on the Islamic account?

Yes. Once a week the Company will charge.

• a fee of $50 per standard lot for specific instruments
• a fee of $150 per standard lot for a further set of instruments as listed on the Fibo Group website
• $50 per standard lot for metals
• Commissions for a standard lot of cryptocurrencies in USD
• For using the “Islamic Account” service. The fee applies to all positions which are open overnight from Wednesday to Thursday at approximately 00.00 EET

Is Fibo Group regulated?

Yes. FIBO Group Holdings Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), under license number 118/10. FIBO Group is a member of the Investor Compensation Fund, which can cover up to €20,000 per client.

FIBO Group Ltd is also regulated by the Financial Services Commission (FSC) in the British Virgin Islands, under license number SIBA/L/13/1063.