FIBO Group is an experienced broker who has existed in the market since 1998. This makes FIBO one of the oldest players in the forex industry. This broker was formerly called Cradlewood, Ltd and has participated in trading in the forex and CFD markets on an over-the-counter (OTC) basis until following the times of providing online trading.
Now, the FIBO broker has offices in Vienna (Austria), Almaty (Kazakhstan), Limassol (Cyprus), Munich (Germany), and Shanghai (PRC). This broker, which provides leverage of up to 1:1000, holds a license from the British Virgin Islands FSC regulator.
FIBO brokerage services combine STP/ECN and Market Maker, so they are classified as Hybrid brokers. Meanwhile, its trading platforms include Metatrader4 (MT4), Metatrader5 (MT5), and cTrader. All this allows FIBO to meet the demands of traders using any trading technique. However, this broker does not offer many bonuses or trading contests.
FIBO offers an attractive partnership program. Partner commission calculations are divided into two categories, namely IB Pip and IB Percent. This FIBO provides a commission of up to 1 pip for each transaction for IB Pip. Meanwhile, for IB Percent, the partner commission reaches 30 percent of the spread for each transaction.
FIBO broker also provides swap-free sharia accounts. The sharia account can be activated by registering a new account or using an existing account. Unfortunately, this swap-free account is only available on the MetaTrader 4 platform.
|Broker Name||FIBO Group|
|Website||Click here to visit FIBO's official site|
|Company||FIBO Group, Ltd|
|Regulators||FSC British Virgin Islands (No. SIBA/L/14/1063)|
|Customer service||email, phone, and live chat|
|website language||English, Mandarin, Arabic, Russian, Indonesian, Malay, Spanish, etc.|
|Deposits And Withdrawals||Bank Wire deposits and withdrawals, credit cards, e-Payments (Skrill, Neteller, Qiwi, CashU, Fasapay), Bitpay (BTC and BCH), as well as local Indonesian banks (via PayTrust88).|
|Trading platforms||MT4, MT5, and cTrader for PC, Web, and Mobile|
|Trading instruments||Over 60 currency pairs (Forex), metals (Gold and Silver), Commodity and Indices CFDs and cryptocurrencies|
|Spreads||Floating Spread (MT4 Cent account, MT4 NDD No Commission, MT4 NDD and cTrader NDD) and Fixed Spread (MT4 Fixed account)|
|Minimum initial deposit||USD1 (MT4 Cent account)|
|Account Currency||USD, EUR, GLD, BTC, and ETH|
|leverage||up to 1:1000 (MT4 Cent account)|
|Minimum Lots||0.01 (micro lots)|
|Account Type||MT4 Cent, MT4 Fixed, MT4 NDD No Commission, MT4 NDD and cTrader NDD|
|Swap-free Account||only available to clients of the Muslim faith on MT4 Fixed accounts by submitting a special application to the broker|
- Suitable for Beginners and Experienced Traders
Judging from the regulations, the FIBO broker seems unconvincing because it only has a permit from the British Virgin Islands FSC. However, the trading facilities are very diverse, ranging from MT4 Cent accounts that do not require large capital to cTrader accounts that ECN traders can rely on. The range of trading instruments is quite wide, including popular currencies, indices, metal commodities, and crypto.
- Opportunity to Partner as IB
FIBO provides an opportunity for both traders and non-traders to earn extra income through the Introducing Brokers (IB) program in three easy steps, namely: fill out the IB application, agree to the partnership terms with FIBO, then start introducing clients using Partner ID. IB Broker FIBO will get two types of commissions. The first is the commission which is calculated in terms of pips, and the second is the commission which is calculated in the form of a percent of each spread of each trader's trades that the IB introduces to FIBO.
- Extra Income from the PAMM Program
FIBO provides a very attractive PAMM program. Experienced traders can apply to become Managers to manage the funds of other traders acting as Investors. Thus, Investors can take part in the forex market without trading themselves, while Managers can earn extra income from managing other people's funds.