FiboGroup, established in 1998, has had a long-standing presence in the financial market and has made significant progress over the years. The company offers various trading accounts with competitive commissions and spreads, providing a diverse range of options for investors.
Additionally, FiboGroup allows its users to trade in various markets, including cryptocurrencies and Contracts for Difference (CFDs).
One of the standout features of FiboGroup is its support in the Persian language, which is highly beneficial for Persian-speaking traders. Moreover, this broker offers attractive trading platforms and PAMM accounts (Percentage Allocation Management Module) for its users.
These features and services have made FiboGroup a reliable and attractive option for investors.
For more information and a better understanding of the features and services of this broker, it is recommended to read the full article on FiboGroup.
This study will help you make a more informed decision about the capabilities and services that this broker provides.
FiboGroup, as one of the well-known brands in the forex market, has a positive reputation among traders. This broker offers a wide range of trading accounts to meet the various needs of traders, from standard accounts to Islamic accounts, which comply with Sharia law.
FiboGroup is one of the oldest brokers providing services to Iranians.
In addition, VIP accounts with better trading conditions and ECN accounts with tighter spreads and faster execution are also available options.
FiboGroup offers a PAMM platform, giving investors the opportunity to benefit from the expertise of professional managers and automated trading.
However, it is important to note that every type of investment carries some risk, and thorough research and review are necessary before making a decision.
FiboGroup also emphasizes the importance of education and support for traders. The company provides various educational resources, including webinars and training courses through its Trading Academy.
Additionally, various analytical tools such as daily market analyses and economic calendars are available to users to help them in making trading decisions.
FiboGroup, which offers services to Iranian clients, is known under the name Fibo Group Ltd and is registered in the British Virgin Islands.
This company is regulated by the FSA of that country, which is considered an offshore regulatory authority and generally has less credibility compared to other international regulators.
However, FiboGroup operates under CySec regulation for its European clients, which is considered a reputable regulatory authority in Europe. This difference in regulation reflects different levels of oversight and credibility for customers in various geographical regions.
For Iranian clients, using brokers operating under offshore regulations is common due to sanctions and international restrictions that prevent brokers from offering services under more reputable regulators to Iranians.
This does not imply a lack of credibility for the brokers. Given FiboGroup’s 25-year history and long-term activity in Iran, Iranian customers can feel confident about the security of their funds with this broker, although this should not lead to complacency about the associated risks.
FiboGroup offers various types of trading accounts, each with its own unique features and benefits:
Swap, or overnight interest, is a concern for traders in Islamic countries, including Iran.
Even for those who are not Muslim or do not follow specific religious beliefs, paying overnight commissions on open trades is often undesirable.
In the case of FiboGroup, Islamic or swap-free accounts are only offered with the broker’s fixed spread account. However, the conditions of these accounts are not ideal.
For example, in Islamic accounts, a commission ranging from $50 to $150 per lot is charged depending on the currency pair on Wednesday nights, even if the trade was opened on the same day.
This can be very important for traders who seek long-term trades and prioritize Islamic accounts. Therefore, if Islamic accounts are of great importance to you, it is recommended to pay close attention to these conditions.
FiboGroup’s standard or fixed spread account has a unique and outstanding feature that is not found among brokers working with the Iranian market. This feature is the guaranteed stop-loss.
In FiboGroup’s fixed spread account, stop-loss orders are guaranteed to be executed. This means that when you set a stop-loss for an open trade, in normal conditions, your trade will be closed at the specified price or with minimal deviation.
In abnormal conditions, such as during major economic news releases or market openings with price gaps, the stop-loss may close at the first available price, which could be 50 or 100 pips worse than the set rate. This is where the importance of the guaranteed stop-loss becomes clear.
FiboGroup guarantees that stop-losses in fixed spread accounts will be executed exactly at the set rate, provided that the trade is not hedged (i.e., you do not have two opposing trades on the same currency pair). It should be noted that this feature only applies to forex pairs and does not extend to CFDs.
After registering and opening a trading account with FiboGroup, you will have access to a wide range of tradable assets, including:
This broad range of assets caters to the needs of most traders and allows for diversification of investment portfolios.
Among the various trading accounts offered by FiboGroup, the NDD account without commission is more popular due to its lower spreads and lack of commission fees.
In a review comparing the best forex brokers, the spreads for FiboGroup’s NDD account are as follows:
These figures show that FiboGroup’s NDD account without commission offers competitive spreads, making it attractive to a variety of traders.
FiboGroup offers a variety of trading platforms to its clients, including:
This diversity in trading platforms allows traders to choose the one that best suits their needs and preferences to optimize their trading experience.
To register with FiboGroup, follow these steps:
This registration process and account details allow traders to choose and open accounts based on their individual needs.
Customer support is a crucial aspect of FiboGroup’s services. However, customer experiences seem to vary:
While FiboGroup offers both Persian and English-language customer support, the quality of Persian support appears to need improvement for a better user experience.
Once you’ve opened a trading account with FiboGroup, the next important step is depositing and withdrawing funds. For Iranian users, the following methods are available:
As mentioned, FiboGroup does not offer direct deposits or withdrawals in Iranian Rials. However, through the IrPay.Pro exchange, Iranian users can easily deposit and withdraw in Rials online, allowing them to conveniently manage their funds with their preferred methods.
Finding a suitable broker in the financial markets can be challenging, especially for beginners. In evaluating FiboGroup, the following points should be considered:
Overall, FiboGroup offers a broad range of services and features, though it also has some limitations that should be considered before selecting it as your broker.
