FIBO Group Broker Review
https://www.fibogroup.com/
FIBO Group is one of the oldest forex brokers, founded in 1998, with a presence in Europe, Central, and East Asia. It is regulated by the British Virgin Islands Financial Services Commission (BVI FSC) and the Cyprus Securities and Exchange Commission (CySEC), providing a moderate level of regulatory oversight. The CySEC regulation implies compliance with EU MiFID regulations, including client fund segregation and investor compensation schemes up to €20,000.
Regulatory Overview
BVI FSC provides Tier-2 regulation with no investor compensation fund.
CySEC provides Tier-1 regulation with stricter compliance, but there have been recent concerns about the broker exceeding authorized business scope under its CySEC license.
FIBO Group previously held an FCA license in the UK, which was revoked, raising questions about current compliance in that region.
Overall, FIBO Group is considered reliable in most regulated jurisdictions, but traders should be aware of the revoked UK license and potential regulatory challenges.
Trading Platforms and Services
Offers popular platforms including MetaTrader 4, MetaTrader 5, and cTrader.
Supports NDD (No Dealing Desk) technology, allowing direct market access and fast execution speeds.
Fixed and floating spreads with commissions, typically $20 per million traded.
Extensive asset coverage including forex, CFDs on indices, commodities, and cryptocurrencies.
Client Experience and Safety
Segregated client accounts and compliance with AML/KYC standards.
No welcome bonuses due to CySEC restrictions.
Customer feedback notes the broker’s longevity and professional reputation but warns to carefully monitor regulatory updates.
Summary
FIBO Group is a well-established broker with comprehensive platform support and multi-regulatory oversight primarily through CySEC and BVI FSC. While it offers solid trading infrastructure and a broad asset range, the revoked FCA license and regulatory scope issues underline the need for cautious engagement. Traders looking for a long-standing broker with established practices will find FIBO Group competent, particularly if operating outside of the UK market.
FIBO Group is one of the oldest forex brokers, founded in 1998, with a presence in Europe, Central, and East Asia. It is regulated by the British Virgin Islands Financial Services Commission (BVI FSC) and the Cyprus Securities and Exchange Commission (CySEC), providing a moderate level of regulatory oversight. The CySEC regulation implies compliance with EU MiFID regulations, including client fund segregation and investor compensation schemes up to €20,000.
Regulatory Overview
BVI FSC provides Tier-2 regulation with no investor compensation fund.
CySEC provides Tier-1 regulation with stricter compliance, but there have been recent concerns about the broker exceeding authorized business scope under its CySEC license.
FIBO Group previously held an FCA license in the UK, which was revoked, raising questions about current compliance in that region.
Overall, FIBO Group is considered reliable in most regulated jurisdictions, but traders should be aware of the revoked UK license and potential regulatory challenges.
Trading Platforms and Services
Offers popular platforms including MetaTrader 4, MetaTrader 5, and cTrader.
Supports NDD (No Dealing Desk) technology, allowing direct market access and fast execution speeds.
Fixed and floating spreads with commissions, typically $20 per million traded.
Extensive asset coverage including forex, CFDs on indices, commodities, and cryptocurrencies.
Client Experience and Safety
Segregated client accounts and compliance with AML/KYC standards.
No welcome bonuses due to CySEC restrictions.
Customer feedback notes the broker’s longevity and professional reputation but warns to carefully monitor regulatory updates.
Summary
FIBO Group is a well-established broker with comprehensive platform support and multi-regulatory oversight primarily through CySEC and BVI FSC. While it offers solid trading infrastructure and a broad asset range, the revoked FCA license and regulatory scope issues underline the need for cautious engagement. Traders looking for a long-standing broker with established practices will find FIBO Group competent, particularly if operating outside of the UK market.
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