FIBOGROUP

Overview of FIBOGROUP

Founded in 1998, FIBO (Financial Internet Brokerage Online) Group is a Forex and CFD broker headquartered in the United Kingdom. They give traders easy market access via the popular MetaTrader platforms and the powerful cTrader platforms for all of their devices.

Pros and Cons

Pros:

- Long history: FIBOGROUP has a long history in the industry, which can provide users with a sense of trust and reliability.

- Supports multiple payment methods: FIBOGROUP accepts various payment methods, including bank wire transfer, credit/debit cards, and online payments and cryptocurrencies, making it convenient for users to deposit and withdraw funds.

Cons:

- No information on specific security measures: FIBOGROUP does not provide explicit details about the security measures it implements to protect user funds and personal information, which can be a concern for those prioritizing security.

- FCA (Revoked): FIBOGROUPs FCA (Financial Conduct Authority) license has been revoked. This can be a concern for some traders as operating under a reputable regulatory authority provides an additional layer of oversight and protection for clients. It is important to consider the implications of this regulatory issue when choosing a broker.

Regulatory Authority

United Kingdom FCA (license number: 532885) The regulatory status is abnormal and the official regulatory status is revoked. Therefore, FIBOGROUP currently has no valid regulation, which means that there is no government or financial authority oversighting their operations. It makes investing with them risky.

If you are considering investing with FIBOGROUP, it is important to do your research thoroughly and weigh the potential risks against the potential rewards before making a decision. In general, it is recommended to invest with well-regulated exchanges to ensure your funds are protected.

Security

In the website, FIBOGROUP does not provide explicit details about the security measures it implements to protect user funds and personal information. This lack of information can be a concern for those who prioritize security. It is important for users to be cautious when using any exchange and to take their own security measures, such as using strong and unique passwords, enabling two-factor authentication, and keeping their devices and software up to date. Additionally, users should be wary of phishing attempts and suspicious links or emails that may lead to potential security breaches.

Cryptocurrencies Available

FIBOGROUP offers users 7 options cryptocurrencies available including Bitcoin, Ethereum, Ethereum Classic, Litecoin, Zcash, Dash and Monero. This provides users with ample choices for diversification and investment opportunities.

• Bitcoin (BTC) - The first and most well-known cryptocurrency, Bitcoin is a decentralized digital currency that enables peer-to-peer transactions without the need for intermediaries.

• Ethereum (ETH) - Ethereum is a decentralized platform that allows the creation and execution of smart contracts. Its native cryptocurrency, Ether, is used to power the network and execute transactions.

• Ethereum Classic (ETC) - Ethereum Classic is a fork of Ethereum that preserves the original blockchain and code. It offers a decentralized platform for building and running applications without downtime, censorship, fraud, or third-party interference.

• Litecoin (LTC) - Litecoin is a peer-to-peer cryptocurrency that utilizes a different hashing algorithm compared to Bitcoin. It aims to provide faster transactions and increased efficiency in terms of block generation.

• Zcash (ZEC) - Zcash is a privacy-focused cryptocurrency that allows users to make shielded transactions, providing enhanced privacy and security.

• Dash (DASH) - Dash is a digital currency that emphasizes privacy and speed. It offers features such as InstantSend, which enables near-instantaneous transactions, and PrivateSend, which provides enhanced privacy by obfuscating the transaction history.

• Monero (XMR) - Monero is a privacy-centric cryptocurrency that utilizes ring signatures and stealth addresses to ensure untraceable and unlinkable transactions. It emphasizes fungibility and privacy by default.

Fees

FIBOGROUP charges various fees to its clients, which include the following:

• Commission Fee: FIBOGROUP charges a commission fee starting at 0.003% of the transaction amount. The exact commission rate varies depending on the trading instrument and account type.

• Inactivity Fee: FIBOGROUP applies an inactivity fee of $5 to accounts that remain dormant for 91 days or more. This fee is charged periodically as long as the account remains inactive.

• Swap Fees: FIBOGROUP charges swap fees, also known as overnight fees or rollover fees, to clients who hold positions open overnight. Swap fees are based on the interest rate differential between the two currencies involved in the trade and are adjusted for any markups or discounts.

Payment Methods

FIBOGROUP accepts multiple payment methods, including bank wire transfer, credit/debit cards, online payment and cryptocurrencies.

• Bank Wire Transfer: You can transfer funds directly from your bank account to your FIBOGROUP trading account.

• Credit/Debit Cards: FIBOGROUP accepts major credit and debit cards, such as Visa and Mastercard, for instant deposits.

• Online Payment Systems: FIBOGROUP supports online payment systems like NETELLER, Skrill, Webmoney, and Fasapay for convenient and fast transactions.

• Cryptocurrencies: FIBOGROUP also allows deposits and withdrawals in various cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), and USDT.

  

Is FIBOGROUP a Good Exchange for You？

FIBOGROUP, being a virtual currency exchange, can potentially cater to a wide range of trading groups. Here are some potential target groups that may find FIBOGROUP suitable for their trading needs:

1. Cryptocurrency Enthusiasts: For individuals who are passionate about cryptocurrencies and want to explore different options, FIBOGROUP's diverse selection can be appealing. The platform's support for multiple payment methods, including bank wire transfer, credit/debit cards, and e-wallets, can make it convenient for enthusiasts to deposit and withdraw funds.

2. Traders Looking for Convenience: FIBOGROUP's support for various payment methods may be attractive to traders who value convenience and flexibility when depositing and withdrawing funds.

5. Traders with Moderate Trading Volumes: As FIBOGROUP's fees vary based on account type and trading volume, traders with moderate trading volumes may find the fee structure more manageable and the costs of transactions predictable.

FAQs

Q: Is FIBOGROUP regulated？

A: No. It has no regulation.

Q: How many cryptocurrencies does FIBOGROUP offer for trading？

A: FIBOGROUP offers a wide range of 7 cryptocurrencies, providing traders with ample choices for diversification and investment opportunities.

Q: Does FIBOGROUP Exchange require KYC？

A: Yes.

User Review

User 1: I have been using FIBOGROUP for a few months now and overall, I'm quite satisfied with their services. The security measures they have in place make me feel confident that my funds and personal information are protected. The interface is user-friendly and easy to navigate, which is great for someone like me who is new to trading. The range of cryptocurrencies available is impressive and allows me to diversify my investments. However, I wish their customer support was more responsive as it can sometimes take a while to get a response. The trading fees are also a bit high compared to some other exchanges I've used. But all in all, it's a reliable platform that meets my trading needs.

User 2: I have been using FIBOGROUP for a while now and I must say, I'm impressed with their regulatory status. Being regulated by CySEC gives me peace of mind knowing that I'm trading on a platform that follows industry standards and is accountable. The liquidity on FIBOGROUP is also great, allowing me to execute trades quickly and efficiently. The range of cryptocurrencies available is extensive, giving me plenty of options to choose from. However, I have had some issues with their customer support. It takes a while to get a response and sometimes the answers are not very helpful. The trading fees are reasonable, but I wish they had more transparency in their fee structure. Overall, it's a solid platform with good stability, but there are some areas for improvement.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.