Fibo Group review: Regulations, Platforms, Trading Instruments and Broker Ratings.

On September 23, 2020, there was a Fibo Group MT4 platform malfunction. The trading pair GBPNZD failed to show large Bear's market candle. It completely disappeared from the chart. The market moved for more than 120 pips. I am trading with there different brokers, including Fibo. Other brokers charts clearly show this huge candle at the same time but the Fibo chart is missing. Due to this failure, I have lost numerous positions on GBNZD which could be closed otherwise. Fibo customer service did not accept the blame for the malfunction and refuse to compensate losses. Stay away from these crooks.

Sep 29, 2020 - No Rating Stay away from these crooks. I lost money with FIBO due to MT4 malfunction. On September 23, 2020, the GBPNZD chart simply did not show a large market downturn around 120 pips. A few of my positions did not close on time. The same day and time two other brokers' charts closed similar positions on MT4. Fibo received charts screenshots to compare but denied any accusation of the wrongdoing.

I'm surprised that there are so much negative reviews..

it's one of my first broker (where I lost some money)
started to trade here in 2012 or 2013..

no slippages, requotes, withdrawal was well (lost not everything)

chosed this broker beccause they had many positive reviews, no russian regulation

I am very upset yesterday just before market close I noticed that my Free Margin and Margin had been swapped and manipulated..such that my account would automatically close in losses due to the low free Margin. I have contacted Fibo Group with this regard with no luck. Please assist me to make this right

Greetings
I sent your Company below text about Fibogroup but I haven't receive any feedback yet.

I have lost more than 12000 $ in Fibogroup forex Broker in 28 feb 2020, because they reduced my leverage from 1.100 to 1.50 in MT4 platform & 1.100 to 1.33 in cTrader platform at the end of the week.
I believe if they hadn’t reduced my leverage, my account shouldn’t have margin call completely, because all of my positions were based on 0.01 lot for per hundred dollars, and on the other hand more than ten percent of my balance never was involved in the transaction as usual. And I think this is somehow rational capital management.
I have filed my complaint to its regulation (Cysec) too, but as you know the process is so long in regulation. So my only hope is your help.
2020.3.21
"Mehrzad Tabebordbar"

Be careful of a fraudulent institution,if you make money, they enter fake stop and fake orders,1 night fake orders over 6000 order , they messed up my account. be careful ...dishonesty

This broker is HONNEST and comprehensive.

I had a major problem : funded my account with Neteller, but this service doesn't work for me since a few months, so I cannot withdraw funds to my bank account from Neteller anymore.
So, FIBOGROUP.COM (British Virgin Islands regulated) accepted to allow me to withdram my funds via Skrill instead.

Great job, guys. Really nice.
AND MY ACCOUNT WAS IN PROFIT!!!

Oct 22, 2018 - 4 Stars Okay, I add a star more, because the day after I wrote my review, the money was effectively credited to my account.

ONE MORE THING TO TRY OUT : withdrawals.

Aug 27, 2018 - 3 Stars For now, I opened an account with them, deposited money on it using Neteller, worked fine the first time, but now, the second time, they say me they have a problem accessing Neteller to check my deposit, so I must wait til tomorrow.

Hope it will be fine.

Didn't try to withdraw yet.

Sometimes the plateform is slow, but this doesn't really affect me often.
Orders well executed.

Fibo group (BVI) is the LP of it self - for this reason it has cancelled my profits from ctrader (see my last feedback about it) .. and for this reason it can have Ctrader only with BVI and not with Cysec.

Dec 20, 2018 - 1 Star SCAM BROKER - IT DOESN'T PAY PROFIT (and i hope now for deposit)
Hi, i'm a news trader and i have opened a CTRADER NDD account with fibogroup BVI (account 1011237) and founded on 07.12 with 7000 euro. I use it with LIMIT ORDER after that a good macroeconomics news happen.
I trade:
1) French Services PMI (Dec) on 14.12 =1957,09 euro profit
2) ANZ Business Confidence (Dec) + other nzd news at the same time on 18.12 = profit = 660.47 euro profit
3) SEK Interest Rate Decision 20.12 =15.954,16 euro profit
= 18.571,72 profit
Today i have asked a withdrawal of 18570 (total of profits)
After two hour i have received an email from Ctid (spotware) that 18240.43 have been reached my account... I have contact its (of fibo) customare service to undestand why 18240.43 and not 18.571,72...immediately after that i have received a message that withdrawal was been cancelled..Account now has a balance of 7300 euro (7000 deposit + 300 profit and i hope that i will can withdrawal it). I have asked information about it and this is the answer: '' Dear xxxx,
According to results of the conducted inspection, due to the client's trading platform failure, there were several trades concluded at the non-market prices. Cause of the incident, these trades have been canceled.

Please, pay your attention, that according to the 4.9 clause of the Customer agreement published on the official website of FIBO Group (https://www.fibogroup.com/u/document_file/1056/customer_agreement.pdf), the Company shall reserve the right to cancel (annul) any Transaction due to wrong quotation found by the Company provided that this wrong quotation appeared as a result of malfunction of the Client Terminal.

Thank you in advance for your understanding. We are looking forward to further cooperation''

Have they had a price/platform problem for 3 trades????' Not for only one, but for 3??????????? The say that they are NO DEALING DESK (and i use a ctrader with limit order, not mt4)... they are only scammer! Please stay away from this broker, IT'S TOTALLY SCAM!!!!! Because this is not a spread, execution etc etc problem...Here it doesn't pay profits and now i hope for deposit (i will update you about it)

More. Community discussion of this issue >>

My previous review about Fibo had subject "Fibo ignores me: do they ignore other traders?" and now I have an upgrade: they answered me, finally.

Unfortunately in the last review I have not been able to add any attachment, but I will be happy to add it in future or upon request.

After some days (January the 7th, 2019), tired to be ignored, I sent an email to FIBO with this text: "On last December the 20th, I received your withdrawal confirmation (see below for details) about EUR 18,243.33. I have to say that I received nothing to my bank account as well as no message from you: would you be so kind to speedup this withdrawal?". And I also added again my bank details and a picture showing the withdrawal date (December the 20th) and amount (EUR 18,243.33).

After two days (January the 9th) I got from them the following email:
"Dear achab,
thank you for your message.

Please be informed that your withdrawal request has been cancelled. In order to withdraw your funds, we kindly ask you to create a new withdrawal request.

Best regards,
Roman
Customer Service Department
Fibo Group Ltd
Tel: + 4 372 00 223 55
service@fibogroup.com"

After 2 days (January the 11th) I wrote them the email with this text:
"Dear Sirs,
good afternoon and thanks for your reply.
You sent me the EUR 18,243.33 withdrawal confirmation on December the 20th at 12:01 time (obj: "[cTrader Live] Funds have been withdrawn from your account") so I was just waiting for my money during these weeks. You could write me some advice, e-mail, SMS or give a phone call but you did nothing, you wrote nothing about cancellation or any problem. Why did you wait 20 days for answering me "that your withdrawal request has been cancelled"?

Kindly advice.

Best regards,
achab"


I have no idea about how traders like to be treated, but I feel quite upset, disappointed and dissatisfied FIBO is the only responsible.

Jan 11, 2019 - 1 Star On December the 20th I made a withdrawal from my Fibo cTrader account (https://fibogroup.id.ctrader.com/login) via wire transfer from their german bank to my german one (the previous withdrawal needed only one day) and, as usual, I got a withdrawal confirmation from them (see attached file for details). Due to the incoming Christmas holiday I waited. But after more than 2 weeks I received no money nor any other communication from Fibo. Personally I don't like this behaviour.

I submitted my withdrawal request 2 days ago but blocked by them because they don't send SMS for confirmation to my phone. Their support is poor as they don't call or respond to live chart. DO NOT deposit with this broker.

Fibo Group is a good broker. They offer low spreads and all my orders are executed instantly on MT4. I have been trading with this broker for over a year after I switched from my old broker. So far everything is perfect.