FiboGroup.com Review

2.058 · 30 REVIEWS
Updated: Sep 29, 2020 · Visit site  · Is this your company?

Fibo Group is forex brokers. FiboGroup offers the MetaTrader4, MetaTrader5 and cTrader top forex trading platforms. Fibogroup.com offers over 55 currency pairs, gold, silver, bitcoin and other cryptocurrencies for your personal investment and trading options.

FiboGroup.com
Related sites include FiboGroup.eu

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 1000:1
Minimum to Open Live: $1
Established: 1998
Address: 29 Agias Zonis, 1st Floor, 3027, Limassol, Cyprus
Contact: service@fibogroup.eu, +357 25 030 930
Regional offices:
Regulators: BVI FSC #SIBA/L/13/1063
Prohibited countries:
Trading platforms: MT4, MT5, cTrader
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (60+)
Cryptocurrencies: (20+) Bitcoin, Litecoin, Ethereum
CFD: (5+) Gold, Silver
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
PAMM: Yes
Deposit Methods: Bank Wire, BitPay, Blockchain, CASHU, Connectum, DixiPay, ecoPayz, FasaPay, Neteller, PaySafe Card, RegularPay, Skrill, WebMoney
Withdrawal Methods: Bank Wire, Bitcoin, Connectum, DixiPay, Neteller, Qiwi, RegularPay, Skrill, WebMoney

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2.058 · 30 REVIEWS
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Traders Reviews

Kenya,
May 5, 2017,
Registered user

Fibo is generally good after 3 years... withdrawal of profits remains to be known

I have been with FIBO group for almost 3 years now. As they say on the live trading account they have no requotes, pending orders do get executed. But I do have reservations:
1. I have observed abnormal spikes that do not exist with any other brokers. Prices that are nowhere else they explained this as stemming from their liquidity providers.
2. I have only had to withdraw once it was a small amount and it was not profit. The withdrawal came faster than the days they put out as 5 for bank transfers. It was in my account the second day.
3. Their support are often curt but not overly unpleasant and they always respond nonetheless. Here am talking about the technical support team for elevated response. The normal support is almost immediate in chat but you would notice they are all East European or Russian.
4. I plan to stay with them, I don't know if there will be problems if I start making profits and trying to withdraw that. That is the only and most important distinguishing aspect of a broker for me. They already proved they are efficient at giving back money. Hope that will be the same with withdrawals of profit
 
John Miller,
Netherlands,
Oct 16, 2017,
Guest

100% SCAM Broker.... Old positive reviews are all by employees and affiliates

Today I am officially scammed by FIBO group.

I asked them for evidence about the corrupt ways they stopped my trades out. But they replied with:

"As for your request for the official statement from a liquidity provider we should kindly notice that there are no such kind of the obligation of the Company in regulatory documents. According to the paragraph 5.2 of the "Notice of risks", published on the official website of FIBO Group (http://www.fibogroup.com/documents/#forclients), "The Client acknowledges that the single reliable source of information on the quotation feed shall be the principal server servicing the actual Clients of the Company."

---------------------------------

IF you want to get scammed and have the broker decide whatever they want without giving any evidence. This is your broker.

May 29, 2017 - 1 Star I don't know why I am forced to give one start at the minimum.
These scammers deserve zero stars to be counted on their ratings average. Now 1 star is added to their ratings average.

I'm a Pro trader and got introduced to this broker by a friend who's not a successful trader. I said I don't waste time on offshore brokers but this friend insisted. At some point I just decided to use Fibo for testing and open a very small account. 1K-2K

I went for the NDD account. In no time I figured out while my server was in the UK they were kicking me off of their UK server and hooking me up to the German server. So, I moved to a VPS in Germany close to their server. Guess what?! They kicked my MT4 off of their German server and hooked me up to their UK server. Than I set up a VPS in Amsterdam and connected my MT4 to FIBO MT4 server in Amsterdam/Netherlands. Guess what?! I am kicked of many times and hooked up to their Singapore server with latency of 500 ms, while the Amsterdam server has 8 ms latency.
I have even used VPS that are used by institutional traders, and even with them FIBO kicks me off of their server and attaches my terminal to a server that is further away.

Do you want me to talk about their slippage and other execution issues? These guys are criminals. I asked them to provide evidence from their liquidity provider about a trade. But they said for privacy reasons if an issue arises they will judge themselves what went wrong and will NOT provide evidence from the liquidity provider. This is pure criminal activity that is set up for money laundering. They have to show evidence of their LP when an investor/trader asks. But FiBo claims they are the ones who will decide about an issue without giving evidence.

Back to the MT4 server manipulation where no matte how close you find a VPS near to their MT4 server they keep kicking you off of the closest server and hook you up to a distant server. Why would a broker claiming to be NDD want to route your trade to some far place? Well, brokers, especially market makers, use 3rd party services that handle the trades. Those 3rd party companies do high frequency trading and scalp away 1-3 pips extra with each buy/sell trade. They do this by increasing spreads or slippage. When opening a trade they make 1-3 pips and when closing a trade they make 1-3 pips (on main pairs).

I also used TradeProofer to analyze the trades and ohh boy.... FiBO price quotes are at ALL times worse than the average of other brokers in the TradeProofer Database.

I can count it as one of my dumbest (two) actions in my trading career to believe an amateur trader just because its a friend.

CySec needs to force these brokers to declare their LP's and provide information about which 3rd party intermediaries they use. That is the only way CySec can stop Russian maffia to keep opening brokerage firms on their island. I'm glad recently CIA/Interpol started taking care of Binary Options brokers, but these guys should be next.
 
Tampa, FL, USA,
Nov 23, 2017,
Registered user

Has company closed down?

I sent 4 emails on 4 different occasions and not one of these emails was responded to (2 in one office, and 1 to the other 2 offices). It was just general questions on a account type (nothing hard). There is never anyone available on chat. I think this company has shut down. If it is not shut down, I could still not advice anyone to open an account here as they do not respond to the most basic of questions.
  1 trader has found this review helpful
Moscow, Russian Federation,
Apr 29, 2018,
Registered user

Its a big scam, they can close account at any time. Russian-speaking clients even a special site opened with historys - fiboforex-obman.com. Russian office (Moscow) was closed.
  1 trader has found this review helpful
Denis,
Canada,
Oct 31, 2018,
Guest

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.
 
Nairobi, Kenya,
Nov 15, 2018,
Registered user

WITHDRAWAL BLOCKED

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.
  1 trader has found this review helpful
Rome, Italy,
Jan 16, 2019,
Registered user

I am upset, disappointed and dissatisfied with FIBO

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.
  1 trader has found this review helpful
Italy,
Jan 24, 2019,
Registered user

Fibo has deleted my profits (UPDATE) because it is the LP of It self

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 >>

  1 trader has found this review helpful
Reunion,
Feb 18, 2019,
Registered user

Honnest and efficient.

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.
 
istanbul, Turkey,
Sep 20, 2019,
Registered user

Service use: Live

Length of use: 3-6 Months

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
 

Frequently Asked Questions

What is FiboGroup?

FIBO Group stands for Financial Intermarket Brokerage Online Group, which is an online forex brokerage, founded in 1998.

FIBO Group offers following assets to be traded on MetaTrader 4, 5 and cTrader.

  • Forex
  • Commodities
  • Indices
  • Spot metals
  • Cryptocurrencies

What platform does FiboGroup offer?

FIBO Group offers the common forex trading platforms as below.

  • MetaTrader 4
  • MetaTrader 5
  • cTrader

Is FiboGroup regulated?

FIBO Group is regulated and licensed by British Virgin Islands Financial Services Commission (BVIFSC) with license No. SIBA/L/13/1063.

What is the minimum deposit for FiboGroup?

FIBO Group doesn't impose a requirement of minimum deposit to open an cent account with them.