FIBO Group Review: A broker with low spreads and commissions
Written by:
Written on:
3 June 2023
Last edit:
24 July 2023
Our rating:


FIBO Group Review: A broker with low spreads and commissions
Written by:
Written on:
3 June 2023
Last edit:
24 July 2023
Our rating


Trading is risky.
See how FIBO Group compares to it's closest alternatives.

Main summary

The FIBO Group was established back in 1998 and has been operating on the brokerage scene since then. The broker offers access to more than 1,300 trading instruments from various asset classes of Forex and CFDs and has spreads starting from a cool 0.6 pips on major pairs and low trading commissions. The broker is regulated in the British Virgin Islands and Cyprus and offers several advanced trading platforms including MT4 and cTrader. 

In this review of FIBO Group, we’ll discuss the broker’s safety policies and regulations, trading platforms, account types, trading fees, and more. In addition, we also included a step-by-step guide for the account registration and verification process for those that might be interested.

Pros & cons of FIBO Group

  • No fees for deposits or withdrawals
  • Offers access to various trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader with advanced offline features
  • Lightning-fast and digital account opening/verification
  • Offers access to trading 1393 tradable instruments from various asset classes, such as CFDs on stocks, cryptocurrencies, Forex, futures, metals, indices, and commodities
  • High leverage of up to 1000:1
  • Low barriers to entry. Accounts can be opened with as little as 1 USD
  • Offers access to Islamic accounts
  • Charges inactivity fees
  • Only one withdrawal option is free of charge

FIBO Group Fact sheet

Main features
Regulations Cyprus, BVI
Fees on deposits 0 USD
Fees on withdrawal 0 USD
Inactivity fees 5 USD after 91 days of dormancy
Minimum deposit 0 USD
Minimum account activation 0 USD
Number of available assets 1373
Leverage up to 1:1000
Available trading markets CFDs, Commodities, Cryptocurrencies, Energies, Forex, Futures, Indices, Metals
Account currencies USD
Demo account Yes
Live account types MT4 Cent, MT4 Fixed, MT4 NDD, MT4 NDD No Commission, cTrader NDD, MT5 NDD
Islamic account Yes
Negative balance protection Yes
Part of compensation fund Yes
Keeps funds on segregated bank account Yes
Forex 43
Shares 0
Cryptocurrencies 9
Indices 8
Commodities 13
Total 1373
Fees & spread
Forex From 0.6 pips
Shares N/A
Cryptocurrencies From 0.16 USD
Indices From 0.08 USD
Commodities From 0.07 USD
Platforms MetaTrader 4
Mobile trading support Yes
Mac device support Yes
Commodities Yes
Payment systems
Payment methods Bank Transfer, Bitcoin, Credit/Debit Card, Crypto, Fasapay, Neteller, Skrill, WebMoney
Minimum deposit Bank Transfer, Bitcoin, Credit/Debit Card, Crypto, Fasapay, Neteller, Skrill, WebMoney
Minimum withdrawal Bank Transfer, Bitcoin, Credit/Debit Card, Crypto, Fasapay, Neteller, Skrill, WebMoney
Withdrawal processing time Instant
Time to open an account -
Show all

Safety & Security of FIBO Group

Choosing a safe and reliable broker is the first step to successful trading. There are various factors to consider when making a decision, but the safest brokers are well-regulated ones. 

FIBO Group is regulated by the Financial Services Commission (FSC) of the British Virgin Islands (BVA) and the Cyprus Securities and Exchange Commissions (CySEC). Since the broker is a regulated entity it adheres to regulations and offers policies that make it a safer choice for traders. The broker is part of an investor compensation fund in case of insolvency and offers negative balance protection, preventing traders from going into a negative balance because of highly leveraged trading. Negative balance protection is only available for retail clients and professional traders will be liable to pay the extra amount if they go beyond their balance. Additionally, all client funds are on segregated bank accounts, meaning the broker can not touch client money to use for its own purposes, which is a nice security feature. 

fibogroup main page.png

Trading assets offered by FIBO Group

*CFD stands for Contract for Difference and such instruments enable traders to speculate on underlying asset prices without owning them. 

FIBO Group offers a wide range of tradable instruments, including CFDs on stocks, cryptocurrencies, Forex, indices, commodities, futures, and metals. 

Forex trading on FIBO Group

There are 43 total Forex pairs on FIBO Group's platforms, but on several account types, there are only 32 pairs offered. Spreads start from 0.6 pips and depending on the trading account can go as high as 1 pip or as low as 0 pips with a little trading commission. With spreads this low, it is even possible to employ scalping strategies as the execution speeds are really fast on the trading platforms, which we have tested ourselves. 

Stock CFD trading on FIBO Group

Where the FIBO Group shines is its number of stock CFDs which are about 1,300 in number and spreads start from 0 pips while the commission is volume based and starts from 0.003%. This commission is really low if we compare it with other brokers. All popular stocks are offered from all stock exchanges including the UK, Australia, and USA. 

Cryptocurrency trading on FIBO Group 

Although there are just 9 crypto CFDs offered by FIBO Group the spreads are low, from 0.16 USD per trade, and it allows traders to speculate on digital assets without owning them. CFDs allow traders to instantly short or go long a cryptocurrency without the waiting times for transaction approval from the blockchain.

Commodities, indices, and futures trading on FIBO Group

The total number of commodities offered on all trading accounts is 13 and spreads are competitive starting from 0.07 USD, while there are 8 indices with spreads from 0.08 USD, and 20 futures for indices and commodities with spreads starting from 0.01 USD. Commodities include gold, silver, and other hard metals, together with soft commodities from agriculture and energy. 

Account types available for traders on FIBO Group

There are six different account types on FIBO Group that provide trading terms that should appeal to all kinds of trading from scalpers to day traders, to even investors. Since there are this many account types let’s see their differences below in a spreadsheet:

 MT4 CentMT4 FixedMT4 NDD*


No commission

cTrader NDDMT5 NDD
Order execution technology

No Dealing


Market Maker

No Dealing


No Dealing


No Dealing


No Dealing


Minimum deposit0 USD50 USD50 USD50 USD50 USD50 USD
Spreads from (pips)0.6100.800
CommissionNoNoFrom 0.003%NoFrom 0.003%From 0.005%

*NDD means no dealing desk and trades are sent to liquidity providers making it the best solution for traders who want to access market liquidity. 

As we can see the main difference between many account types are trading platforms, leverages, commissions, and spreads. The most beginner-friendly account is a cent account with no minimum deposit requirements, no commissions, and very low Forex spreads. This cent account is very attractive for beginners who are starting to trade as it allows them to invest very small capital and learn to trade on a live account. 

Pros & cons of FIBO Group account types

Low barriers to entry. Accounts can be opened with as little as 1 USDSome account types have very similar terms and do not provide any advantage 
Enables traders to use Demo and Islamic accountsShare CFDs can only be traded on the cTrader platform
Offers a variety of account types to choose from: MT4 Cent, MT4 Fixed, MT4 NDD, MT4 NDD No Commission, cTrader NDD, MT5 NDD 

Getting started on FIBO Group – Main steps

In this section, we’ll show you how to open a live trading account with FIBO Group. The registration process and account activation are fully digital, and the broker’s web page is very intuitive and user-friendly. In addition, customer support agents are available 24/7 in case you have any questions. 

Step 1: Open an account

Opening an account is one of the easiest processes with FIBO Group. The website offers a popup window to quickly fill in basic data like email, phone number, and name. After this step the client is redirected to their incomplete profile and another popup window will tell you what to do next.

acc reg.png

Step 2: Time to verify your account

For verification, there are several steps which include:

  • Email verification - it is possible to verify your email address by clicking on a verify email button 
  • Additional details form - traders can fill in additional personal information on the client portal
  • Submitting proof of ID and proof of residence documents - it is necessary to verify identity and address via copies of your ID card and a utility bill or bank statement, which has to be valid and up to date. Documents must be no older than 3 months and have to be issued by a government or banks

The verification process is quick and it won’t take more than 24 hours. If any issues arise it is possible to contact support 24/7 which should resolve any issues quickly. In general, it is not recommended to deposit funds before the verification process is completed to avoid any complications and difficulties. 

Step 3: Make your deposit and start trading

After the first two steps, the only remaining thing to do is deposit as much as the trader wants and start trading. Multiple popular payment methods are supported and fees are zero for deposits. Depending on the withdrawal methods it is possible to withdraw with zero fees but only with cryptocurrencies. 

Fees & commissions of FIBO Group

Trading fees with this broker are low compared to competitors. There are no inactivity fees and spreads on the commission-free Standard account start from 0.5 pips. Let’s compare the fee policy with other brokers to better understand the difference. 

Comparing FIBO Group fees with other brokers

FIBO Group fees compared to Interactive Brokers fees

Type of FeeFIBO GroupInteractive Brokers
EUR/USD SpreadFrom 0.6 pipsFrom 0.6 pips
Fees on Deposits0 USD1%
Inactivity fee5 USD after 91 days of dormancyNo*

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

FIBO Group fees compared to CM Trading fees

Type of FeeFIBO GroupCM Trading
EUR/USD SpreadFrom 0.6 pipsFrom 0.9 pips
Fees on Deposits0 USDNo
Inactivity fee5 USD after 91 days of dormancyYes, 15 EUR/USD per month after 60 days of inactivity

FIBO Group fees compared to plus500 fees

Type of FeeFIBO Groupplus500
EUR/USD SpreadFrom 0.6 pipsFrom 0.8 pips
Fees on Deposits0 USDNo
Inactivity fee5 USD after 91 days of dormancyYes, 10 USD per month after 3 months of inactivity

FIBO Group fees compared to XM fees

Type of FeeFIBO GroupXM
EUR/USD SpreadFrom 0.6 pipsFrom 0.6 pips
Fees on Deposits0 USDNo
Inactivity fee5 USD after 91 days of dormancyYes, 15 USD after 12 months, +5 USD/m

FIBO Group fees compared to AvaTrade fees

Type of FeeFIBO GroupAvaTrade
EUR/USD SpreadFrom 0.6 pipsFrom 0.9 pips
Fees on Deposits0 USDNo
Inactivity fee5 USD after 91 days of dormancyYes, 50 USD after 3 months, 100 USD administration fee after a year

FIBO Group fees compared to fees

Type of FeeFIBO
EUR/USD SpreadFrom 0.6 pipsFrom 0.9 pips
Fees on Deposits0 USDNo
Inactivity fee5 USD after 91 days of dormancyYes, 50 USD after 3 months, 100 USD administration fee after a year

Trading platforms of FIBO Group reviewed

There are several popular professional trading platforms in the world and three of them are available at FIBO Group, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. All three platforms are advanced and feature-rich software offering advanced charting and technical analysis capabilities. MT4 is one of the most popular trading platforms in the world right now by user base and it offers multi-terminal options to control many accounts via one platform. MT4 is available for FIBO Group clients on all devices including Android, iOS, and desktop computers, and as a web trader variant. What differentiates FIBO Group’s mobile MT4 app from others is its offline capability to show charts, historic data, quotes, open trades, and trading history. This will allow traders to always have the ability to track their trading on the go, even when the power is out. All three trading platforms have the ability to install or develop custom trading indicators or trading robots. These robots allow traders to fully automate the trading processes. All of the benefits are the same for the MT5 mobile app and desktop software and it is at least as capable as MT4 and comes with even more features than its predecessor. cTrader is another advanced professional platform offered by FIBO Group and similarly to MT4 and MT5 has several advanced features. cTrader is especially great for stock CFDs trading and comes with various inbuilt tools including copy trading functionality. 

Education and research tools

There are several educational resources available on the website of FIBO Group, including video courses and Forex for beginners which offer beginners a comprehensive guide on their trading journey. All parts of the website contain FAQs about all aspects of trading to make it easier for clients to use various free tools that are available for traders. The “Analytics” section contains several useful tools including:

  • Economic calendar
  • Market analysis
  • Forecasts
  • Tradings sessions and interest rates

All these tools offer traders the unique capability to track important news and increase their chances of catching trading opportunities. 

Customer support of FIBO Group

Although there is no online form for leaving a message to the broker, there are all other common communication methods available, including multilingual live chat. Support is live 24/7 for all clients and can be contacted very easily through live chat. The website as well as live chat supports about 15 different languages making it easy for international traders to contact the broker and solve any issues they may have. Email and phone calls are also possible. All in all the support is fast and responsive, and the live chat is very intuitive to use. 


FIBO Group is a well-regulated broker offering a wide range of trading instruments with low spreads and commissions. The broker provides a safe and secure trading environment for its clients by adhering to regulations, offering negative balance protection, and segregating client funds. There are several account types that offer traders the ability to trade any trading strategies on some of the most advanced trading platforms, including MT4, MT5, and cTrader. All trading platforms allow traders to install custom trading indicators and trading robots allowing full automation of the trading process. All trading platforms are also available for mobile devices with almost full capabilities. Trading spreads and fees are low and very competitive with a low initial deposit requirement of 0 USD and a high leverage of 1:1000. FIBO Group seems a legit and reliable broker that has been on the broker scene since 1998. 

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FAQs on FIBO Group

Is FIBO Group a good broker?

Yes. FIBO Group is regulated in the British Virgin Islands and Cyprus. The broker has been operating on the brokerage scene since 1998 and offers over 1,300 trading instruments in diverse asset classes. There’s a wide range of account types available, including the full set of MetaTrader and cTrader platforms, and traders get 24/7 online customer support in case of any issues. The broker has negative balance protection for retail clients, is part of a compensation fund, and saves all client funds in segregated accounts. 

What else can I trade with FIBO Group?

Except for the already mentioned asset classes of Forex, cryptos, indices, and commodities, there are 20 futures available on FIBO Group platforms. The minimum spreads start from 0.01 USD and are pretty competitive. The futures include popular indices like the US500 and US30 and commodities such as soft and hard commodities of agriculture and precious metals. All in all, there are multiple asset classes available at FIBO Group allowing traders to choose their preferred assets easily and switch between various markets giving them great flexibility.