FIBO Group

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FIBO Group scam – broker review, assessment of the organization, real reviews from traders, new scammer

A brokerage company with a fake legend and fictitious facts. The anonymous management of the office talks about its reliability without a basic package of documents in the form of a license or certificate.

Status	SCAM
Year of foundation	1998
Affiliate program	Yes
Regulation and jurisdiction	FSC
Website	https://www.fiboforex.org/
Contacts	2nd Floor, O’Neal Marketing Associates Building, Wickham`s Cay II, P.O. Box 3174, Road Town, Tortola VG1110, British Virgin Islands

Pros

Bonuses
Wide range of tools

Cons

Quotes are fake
Bad terminal
Imposing professional status on newcomers

Trading Platform	MetaTrader 4, Web Terminal MT4, MetaTrader 5, cTrader
Types of accounts	Отсутствуют
Currency	EUR, USD, GBP
Deposit/withdrawal	Cards, bank transfers, cryptocurrency, payment systems
Leverage	1:200
Spread	From 0 points
Financial Instruments	Forex, metals, stocks, indices, futures, ETFs, cryptocurrencies
Trading Features	Large selection of trading terminals, wide range of tools. The office launches promotions and often conducts competitions and courses
Order execution	No Dealing Desk, Market Maker
Bonus	Yes

History of the formation of the FIBO Group broker

The international financial holding FIBO Group (Financial Intermarket Brokerage Online Group) is one of the oldest participants in the margin online trading market. The holding’s first company was founded in 1998. From the very beginning of its activities, FIBO Group adheres to the principles of transparency, protection of client interests and strict compliance with legal requirements and regulations of national regulators.

FIBO Group, Ltd. registered in the British Virgin Islands (address: 2nd Floor, O’Neal Marketing Associates Building, Wickham`s Cay II, P.O. Box 3174, Road Town, Tortola VG1110, British Virgin Islands). The company is regulated by the Financial Services Commission (FSC) BVI, with license registration number SIBA/L/13/1063. Also mentioned is FONTEN CORPORATION LIMITED, registered in Gibraltar (registration number 94046).

The problem is that the information stated is not true. The company is not really regulated by anyone. The broker is simply making a fool of himself and that’s all. FIBO Group allegedly has offices in various financial centers of the world, including Limassol, Munich, Almaty. The company has received many awards from the professional community, including recognition as the best CFD and FOREX broker.

Advantages of FIBO Group

Here’s the organization outline:

flexible and transparent terms of cooperation. FIBO Group offers an individual approach to each partner, providing flexibility in terms of cooperation;
no restrictions on payment and calculation of remuneration. Partners can count on timely and unlimited remuneration payments;
high rewards for each transaction of attracted clients;

wide selection of PR materials. Partners have access to a variety of advertising and marketing materials to promote services;

daily accrual of rewards. Possibility of daily tracking and withdrawal of earned funds;
reports on customer transactions online. Partners can track their clients’ activity in real time.

All this is just water, because we know that the project has not been registered anywhere, the company provides services illegally.

Methods of contacting support

The pages of the FIBO Group website do not provide information on ways to communicate with clients. This page focuses on providing documents and information regarding registration and licensing of a company that is a linden company.

To obtain information about ways to contact a FIBO Group broker, you will need to register or clarify the details if representatives of the company have contacted you.

Trading conditions for traders

You can immediately see on the website what the company promises:tight spreads, high-quality order execution, variety of trading instruments. Automated trading services can be used as additional opportunities for clients. Representative offices around the world provide quality service.

Classification of trading accounts

FIBO Group offers a variety of account types, each tailored to suit different trading strategies and traders’ needs. Here are the actual options available:

MT4 Cent. Minimum deposit: 0 cents. Leverage: up to 1:1000. Account currency: US Cent. Ideal for novice traders and testing trading robots;
MT4 Fixed. Minimum deposit: $50. Spread: Fixed. Leverage: up to 200 (25 for cryptocurrencies). Instant Execution, guaranteed stop loss orders, protection against negative balance;
MT4 NDD No Commission. Minimum deposit: $50. Spread: Floating, from 0. Leverage: up to 400 (25 for cryptocurrencies). Non Dealing Desk, no commissions, high execution speed;
MT4 NDD. Minimum deposit: $50. Spread: Floating, from 0.8. Leverage: up to 400 (25 for cryptocurrencies). Market Execution, ideal for intraday trading and scalping;
MT5 NDD. Minimum deposit: $50. Floating spread, leverage up to 400 (100 for metals). MT5 platform, Market Execution, “order book”, improved system for testing trading robots;
cTrader NDD. Replenishment amount is 50 dollars. cTrader terminal with extensive analytical capabilities, Market Execution.

These varied account types allow traders to choose the most suitable option according to their trading strategies and risk level.

Financial transactions with FIBO Group

Bank transfers can be made in the following currencies. EUR, RUB, USD. The commission varies depending on the sending bank. Received up to 5 working days. Credit cards have no fees and support Euro and Dollar.

payment systems and online payments are also supported, but without details which ones. Commissions vary depending on the currency:

EUR, USD: 4.9%.
USD: 3.9%.
EUR, USD: 0.8%.
USD: 0%.

You can work with cryptocurrency. In accordance with the FIBO Group regulations, clients must withdraw funds in the same way and in the same currency in which the funds were deposited. For more detailed information, it is recommended to contact the Client Account on the official website of FIBO Group. And here we return to user reviews that the company’s withdrawal does not work. It is simply impossible to withdraw funds.

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Expert opinion

Eugene Rudenko

Based on the information on the broker’s website and on the Internet, we can conclude that this is a classic scammer operating in the Forex market. Fibo Group places a strong emphasis on its safety and reliability. In reality, the company operates without a license and certificate from the same Central Bank of the Russian Federation, the chief auditor of Russia. Most applications can be canceled with knowledge of the lack of licensing.

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Reviews about FIBO Group

Let’s start with the fact that we are dealing with a long-running scammer. Because if you look at the posting of comments, the date of publication is 2020. The organization provides services for at least three years.

In most cases, users are faced with a lack of earnings and the ability to withdraw funds.

The office blocks the entrance to the market, the terminal is completely under the control of the organization. Accordingly, you can forget about honesty.

The office drains clients’ accounts, while telling tales about what prospects await users. The problem is that the situation is unrealistic.

Ex-clients warn that the company is not regulated. Users warn about this and do not recommend contacting fiboforex.org.

In general, we have a kitchen in front of us, if you transferred your money to it, you can consider a chargeback. This is an option that allows you to get money back from the scammer. It’s just that not all victims are willing to spend time learning the procedure. If you are interested in chargeback and its intricacies, then just write to us.

Conclusions

Based on the information presented, we can conclude that FIBO Group is a broker with a long history and a variety of trading instruments. However, some aspects, such as offshore registration and high leverage, simply scream that we are dealing with real scammers. It is important to study the partner in detail before opening an account, including a Fibo Group personal account.

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FAQ

Does the opinion of a broker's clients affect its reputation?

The company’s rating and reputation largely depend on whether its clients are satisfied. The reviews about Fibo Group are not the most flattering, and therefore you should take a close look at them before deciding to cooperate with this platform.

How to write a review about cooperation with Fibo Group on the website?

To add a review of this company on the resource, you do not need to spend a lot of time. The whole procedure takes no more than 5 minutes, and this is already with registration. A letter with a link to confirm registration will be sent to your e-mail, and it will also contain detailed instructions on how to add a review to the site.