
FIBO Group · Cyprus
2020-09-10
Rating
/10.00
The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints!
Benchmark
DMarket Making(MM)
CYSEC Regulated
Retail Forex License
BaFin Regulated
European Authorized Representative (EEA)
FCA Regulated
Retail Forex License
FSC Offshore Regulatory
Company Name:
Financial Intermarket Brokerage Online GroupCompany Abbreviation:
FIBO GroupPlace of registration:
Regulatory Status:
RegulatedCustomer Service Email Address:
service@fibogroup.comCustomer Service Phone Number:
+44 (845) 09-50-118Company summary
FIBO Group Holdings Limited is a professional online financial dealer and one of the most experienced internet margin trading service market. The company's first branch was established in 1998, with four offices worldwide in Shanghai, Alma-Ata, Limassol, and Munich. The company currently has the Cyprus Securities and Exchange Commission (CySEC) full license, the German Federal Monetary Authority (BaFin) retail forex license, the British Financial Conduct Authority (FCA) EU authorization license, and the Virgin Islands Financial Services Commission (FSC) retail forex license. About MoreWikiFX Risk Alerts
Previous Detection: 2021.04.24 Risk: 2 Item
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Beguile people into depositing funds with various reasons such as personal income tax, margin, risk fund and credit score
Delay withdrawals with many fimsy reasons. The customer manager has been out of conatct.
Cannot withdraw money! The investors must deposit the margin and pay personal income tax and foreign account fees
After I submitted the ID information and paid the margin, as well as opened an overseas account, the service didn’t respond any more.
I was told that under the lead of professional traders, I would only make profits here. I downloaded the APP according to that woman’s instruction on WeChat and registered my account. The Customer Service told me that the minimum deposit is 200. After I deposited 5000 for a try, the woman said I had to invest 5000 more before she can teach me and so I did. She let me add the administrator’s QQ to operate. Then I was told that I had lost it all due to my misoperation and I had to invest more to start over. Being impatient, I deposited additional 10000. After that, she said no trader would like to lead me due to my misoperation and let me invest a total amount of 10000 for appointing a trader. I didn’t have that much money and wish to quit. I wanted to withdraw the 10000 in my account and they refused. Currently, I only hope I can withdraw the 10000 in my account.
The Cyprus Securities and Exchange Commission (CySEC) was established in accordance with section 5 of the Securities and Exchange Commission (Establishment and Responsibilities) Law of 2001 as a public legal entity. It is an independent public supervisory Authority responsible for the supervision of the investment services market, transactions in transferable securities carried out in the Republic of Cyprus and the collective investment and asset management sector. It also supervises the firms offering administrative services which do not fall under the supervision of ICPAC and the Cyprus Bar Association.
Current Status:
RegulatedLicense Type:
Market Making(MM)Regulated in Country/Area
Regulatory License No.:
118/10Email Address of Licensed Institution :
p.kosidis@fibogroup.euLicense Type:
No SharingWebsite of Licensed Institution :
Expiry Date :
--Address of Licensed Institution :
182, Ayias Fylaxeos, Kofteros Business Center, Office 103, CY-3083 Limassol, CyprusPhone Number of Licensed Institution :
35725105641Licensed Institution Certified Documents :
FIBO 监管页截图 View Certified DocumentsPrior to 2002, in Germany the regulation of the financial industry was undertaken by three separate agencies. In May 2002 BaFin was formed, following the passing of the Financial Services and Integration Act. The aim of the Act and the merging of the three agencies was to create one integrated financial regulator that would be able to cover all financial markets. The agencies that merged together were the Federal Banking Supervisory Office, the Federal Supervisory Office for Securities Trading, and the Federal Insurance Supervisory Office.BaFin was given further responsibility following the passing of the Banking Act in 2003 with the aim of increasing customer protection and improving the reputation of the German financial system. The extra powers included monitoring the credit-worthiness of financial institutions and collecting detailed information about them. This particular area of responsibility was shared with the Bundesbank. Currently, BaFin is experiencing a kind of transition, as the responsibility for banking supervision is being taken over by the European Central Bank.
Current Status:
RegulatedLicense Type:
Retail Forex LicenseRegulated in Country/Area
Regulatory License No.:
124031Email Address of Licensed Institution :
--License Type:
No SharingWebsite of Licensed Institution :
Expiry Date :
--Address of Licensed Institution :
182, Ayias Fylaxeos,KoFTeros Busin.CenT.3083LiMassol ZypernPhone Number of Licensed Institution :
--Licensed Institution Certified Documents :
fibo.png View Certified DocumentsThe Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry. On 19 December 2012, the Financial Services Act 2012 received royal assent, and it came into force on 1 April 2013. The Act created a new regulatory framework for financial services and abolished the Financial Services Authority. The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom. It focuses on the regulation of conduct by both retail and wholesale financial services firms.
Current Status:
RegulatedLicense Type:
European Authorized Representative (EEA)Regulated in Country/Area
Regulatory License No.:
532885Email Address of Licensed Institution :
--License Type:
No SharingWebsite of Licensed Institution :
Expiry Date :
--Address of Licensed Institution :
182 Ayias Fylaxeos Kofteros Business Center office 103 Limassol 3083 CYPRUSPhone Number of Licensed Institution :
357 25105641Licensed Institution Certified Documents :
FCA_532885_交易商监管信息表_查询结果 View Certified DocumentsThe enactment of the Financial Services Commission Act in December 2001 established the British Virgin Islands Financial Services Commission (FSC) as an autonomous regulatory authority responsible for the permission, regulation, supervision of all financial services in and from within the BVI, which includes insurance, banking, fiduciary services, trustee business, company management, investment business, and insolvency services, as well as the registration of companies, limited partnerships and intellectual property. Since 2002, FSC assumed the responsibility for functions previously carried out by the Government through the Financial Services Department. FSC, as financial services regulator, is also responsible for promoting public understanding of the financial system and its products, policing the perimeter of regulated activity, reducing financial crime, and preventing market abuse.
Current Status:
Offshore RegulatoryLicense Type:
Retail Forex LicenseRegulated in Country/Area
Regulatory License No.:
SIBA/L/14/1063Email Address of Licensed Institution :
--License Type:
No SharingWebsite of Licensed Institution :
Expiry Date :
--Address of Licensed Institution :
--Phone Number of Licensed Institution :
--Licensed Institution Certified Documents :
2 View Certified Documents 1_b View Certified Documents 1_a View Certified DocumentsIdentification Result
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2021.04.24 updated
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Basic Information & Regulators of FIBO Group
FIBO Group Holdings Limited is a professional online financial dealer and one of the most experienced internet margin trading service market. The company's first branch was established in 1998, with four offices worldwide in Shanghai, Alma-Ata, Limassol, and Munich. The company currently has the Cyprus Securities and Exchange Commission (CySEC) full license, the German Federal Monetary Authority (BaFin) retail forex license, the British Financial Conduct Authority (FCA) EU authorization license, and the Virgin Islands Financial Services Commission (FSC) retail forex license.
Safety Analysis
The company is committed to fulfilling all requirements of national regulatory agencies and strictly complying with national legislation. It also has annual audits that comply with international standards.
Market Instruments
Fibo Group offers mainstream and popular financial products in the global financial market for investors, including forex (60 currency pairs), precious metals (gold and silver), cryptocurrencies (Bitcoin, Ethereum, Litecoin, Zcash, Dash, Monroe), CFDs, etc.
Leverage & Account of FIBO Group
Fibo Group provides investors with different types of trading accounts suitable for various trading strategies. MT4 Cent Accounts, with the maximum leverage up to 1:1000, cryptocurrency up to 1:25. MT4 Fixed Accounts, with the maximum leverage up to 1:200. MT4 NDD Accounts, with the maximum leverage up to 1:400. MT4 NDD No Commission Accounts, with the maximum leverage up 1:400, and cryptocurrency up to 1:25, cTrader NDD Accounts, with the maximum leverage up to 1:400, metal leverage up to 1:200. MT5 NDD Accounts, with the maximum leverage up to 1:400, and the metal leverage up to 1:100.
Spreads & Commission Fees of FIBO Group
The minimum spread for MT4 Cent Accounts is 0.6 pips, with no commission. The minimum spread for MT4 Fixed Accounts is 2 pips, and with no commission. The minimum spread for MT4 NDD Accounts is 0 pips, and the commission is 0.003% of the trading volume. MT4 NDD No-Commission Account has a minimum spread of 0.8 pips. cTrader NDD Accounts has a minimum spread of 0 pips, and commission is 0.003% of the trading volume. MT5 NDD Account has a minimum spread of 0 pips, and the commission is 0.005% of the trading amount. The swa is shown in the chart below:
Product | Long | Short | Settlement Date |
USDCAD | -0.34 | -0.38 | Monday |
AUDCHF | 0.11 | -0.67 | Monday |
AUDJPY | -0.1 | -0.4 | Monday |
EURGBP | -0.43 | -0.08 | Monday |
EURCAD | -0.8 | -0.07 | Monday |
Trading Platform Applied of FIBO Group
The trading platforms applicable to Fibo Group are MT4, cTrader, MT5. MT4 has a wide range of tools and indicators that can be used for technical analysis, foreign exchange news, online quotes, and price icons. This program allows traders to manage multiple windows using their indicators and research data. The cTrader platform allows professional traders and novices to use NDD (No Dealing Desk) technical currency transactions in the currency exchange market. It also allows users to directly trade with international banks to avoid intermediaries in the real trading environment. The average order execution speed is less than one millisecond. MT5 has a brand-new trading bear and distributed system structure with high efficiency and flexibility. The platform is entirely in line with the latest international management of online transactions through NDD technology. Besides, the spread is accurate from 4 decimal places to 5th.
Deposit & Withdrawal of FIBO Group
The company offers various convenient and safe options for investors to deposit and withdraw funds. The deposit method supports SWIFT ( deposit accepting EUR & USD, the commission generally 35 to 50 US dollars, and the transfer time taking 2-5 working days; the withdrawal accepting EUR, USD, BGP & CHF, and the withdrawal fee usually 35 to 50 US dollars.), UnionPay (accepting RMB, no commission, credited immediately after payment is successful), CONNECTUM (VISA/MASTERCARD, deposit accepting EUR & USD, no commission, credited immediately after payment is successful; withdrawal accepting EUR & USD, and the commission 2.5%+1.5 Euros), RegularPay (accepting EUR and USD, no commissions, through the RegularPay system processing center to use bank cards to inject funds; withdrawal accepting EUR &USD, with a withdrawal fee of 10 dollars or other equivalent amounts), ZOTAPAY (supporting RMB, no commission for deposit, the payment is processed immediately when the invoice is paid, and the withdrawal with 2.2% commission), Neteller (supporting EUR &USD, no commission), WebMoney (deposits and withdrawals both supporting EUR &USD, a commission of 0.8% is charged, and it will be credited automatically after successful payment). The company also supports a series of cryptocurrency deposits and withdrawals.
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