- Is FIBO Group Holdings Ltd regulated or licensed by any regulatory body?
FIBO Group Holdings Ltd. Is registered in Cyprus (number HE242381) and licensed by Cyprus Securities and Exchange Commission (CySEC) under the license number 118/10 in accordance with Markets in Financial Instruments Directive (MiFID). FIBO GROUP HOLDINGS is also registered with the UK Financial Services Authority (FSA) with registration number 532885.↑ minimize
- Is FIBO an ECN, STP-broker or a Market Maker?
Market Maker and ECN-broker.↑ minimize
- What instruments do you offer?
60 Forex currency pairs and CFD’s on currencies, commodities, stock indices and precious metals.↑ minimize
- Is my money safe with FIBO?
FIBO Group Holdings Ltd is a licensed firm that abides by strict European Union laws and regulations. In accordance with our regulatory body (CySec), clients’ funds are held in segregated accounts from company’s accounts. Retail clients also get additional protection through the European Compensation Fund providing additional security in the event of default. The total payable compensation to each covered Client of an ICF’s member may not exceed €20.000, irrespective of the number of accounts held, currency and place of offering the investment service.↑ minimize
- Are my funds insured and segregated with FIBO?
As FIBO Group Holdings Ltd is licensed and regulated by CySec (CIF no. 118/10), all our retail clients have access to the investor compensation fund, in the event where FIBO is unable to fulfill its obligations. All client funds are held on accounts separate from the company’s own funds in an A class bank.↑ minimize
- How can I contact FIBO?
You can contact us via email, telephone, live chat, correspondence in personal client’s cabinet (for registered clients) or request a call back from a member of our team.↑ minimize
- What trading platforms does FIBO offer?
FIBO offers the MetaTrader 4 Platform, MetaTrader 4 Mobile, MetaTrader 4 Android, MetaTrader 4 iOS, MetaTrader 5 and the Mirror Trader.↑ minimize
- Is your trading software free?
- Can I trade using my Mobile phone?
- How can I change my MT4 password?
In order to change your password, please login into your MT4 trading account and then follow these steps: click on the Tools tab -> choose Options -> choose Server tab -> change password -> type your old password -> create a new password and confirm. Or you can contact our Customer Service Department by phone, by e-mail or via personal cabinet and ask them to provide you with a new password. Our specialists will check your personal information and will contact you if any additional verification is needed. Once complete a new password will be sent to your e-mail address mentioned in the Client’s card in our database (from your application for account opening).↑ minimize
- I have forgotten my password. What do I do?
You can contact our Customer Service Department by phone, by e-mail or via personal cabinet and ask them to provide you with a new password. Our specialists will check your personal information and will contact you if any additional verification is needed. Once complete a new password will be sent to your e-mail address mentioned in the Client’s card in our database (from your application for account opening).↑ minimize
- Where can I download MT4?
- Do you offer MT5?
- What are the main reasons for platform disconnection?
Should you have platform disconnection, please first check that your internet connection is and was working, and if necessary, reset the internet/computer or contact your internet provider. Please also check that you are connected to the FIBO Real Server (or Demo server if you are using a demo account). Lastly, it is advisable to check whether you have had any hardware failure with your equipment. If you see “No connection” message in the bottom right hand corner of your platform, you can use this short instruction:
1. Run the platform3. Choose "File - Login" menu, enter your login and password and choose the server "FIBO Group MT 4 Real Server" (or "FIBO Group MT 4 Demo Server" if you are using a demo account); - Press "Login" button; - Wait for about 30 seconds. If the connection doesn't appear, please, do the following: 4. Choose "File - Login" menu, enter your login and password - Clear the line "Server" and type one the next IP-address for Real server: 22.214.171.124:444 126.96.36.199:444 Or 188.8.131.52:444 – for Demo server - Press "Login" button;
2. Choose menu Tools - Options - Server section:
- Put the tick on "Data Center auto configuration"
- Remove the tick from the line "Enable proxy server"
- Press OK button;
- What kind of accounts do you offer?
We offer standard accounts of the MT4 Fixed, MT4 Floating and MT5 NDD types (http://fibogroup.eu/forex/accounts_types.html) with the possibility to trade from 0.01 to 10 000 lot sizes. Spreads and leverages are the same (except MT5 NDD, where the maximum leverage available is 1:100) and do not depend on the amount you have in your account. We also offer Islamic accounts, for details please contact our Customer Service Department.↑ minimize
- How do I open a Demo Account?
- I did not receive my login and password details when opening a Demo Account. What should I do?
The login and password are sent to the email address provided on the Demo account opening form. If you do not receive the email right after the demo account registration, please wait for an hour or so. You may also need to check your Spam (Junk) folder. For any assistance please contact our Customer Service support by phone, online chat or send an email to firstname.lastname@example.org↑ minimize
- Do I have to supply genuine contact details? I don’t want to receive any Spam.
If you provide inaccurate information then your account will be deleted. FIBO will never disclose your contact details to any third parties, but will use your details to let you know of any important changes that may affect your account.↑ minimize
- When will my Demo account expire?
If you used correct contact information to open your demo account, the account will be valid as long as you execute at least one transaction within 60 days. If there has not been any activity in your account for 60 or more days, it will be suspended. You can top up your demo account with virtual funds as many times as you like.↑ minimize
- How do I add funds to my Demo account?
- How do I change the leverage on my Demo account?
- How do I open a LIVE trading account (for an individual)?
- How long does it take to open a LIVE trading account?
It depends on how quickly you can provide us with the required documents. If you provide us with the required documents then we can have your account fully approved within 1 hour. Once the documents have been submitted, we will contact you within 2 hours during normal business hours. If you do not get any reply within 1 working day please send an email to email@example.com to check if we have received your documents.↑ minimize
- I filled in an account opening application on your website but I didn’t receive an email to continue registration. What should I do?
Sometimes spam programs may identify our emails as spam. It may help if you change the setting of your spam detection programs. You can contact Customer Service support via e-mail, phone, online chat or request a call-back and our specialists will help.↑ minimize
- Can I change my application form after it has been submitted?
Yes, you can. If you need to amend any information on the application form, please feel free to do so. You can write an instruction in your personal client cabinet. Our specialists will process your inquiry and will contact you if any additional verification will be needed.↑ minimize
- Can I have more than one account?
Yes, you may open more than one account with us. To open an additional account you should login to your personal client cabinet and click “Open a new trading account”. It is not necessary to submit your ID and utility bill again (unless the details have changed) as we already have these on file.↑ minimize
- Do you offer Islamic Trading Accounts?
Islamic accounts are useful for customers who due to religious beliefs can not trade under regular conditions. According to which holding a position open overnight implies a swap interest either charged from or credited to the customer's account.↑ minimize
The main difference of Islamic accounts from standard ones is the lack of bonus for a position rolled over to the following day. The fee for the service applies to the positions open overnight from Wednesday to Thursday only.
Other terms and conditions for Islamic accounts are exactly the same as for standard ones.
If you want an Islamic account please open a standard account as explained on the account opening page and send a request to firstname.lastname@example.org to change it over to positive swap-free status. For details please contact our Customer Service Department.
- Can I login into my Live Account from different computers?
Yes. You can login into your account from as many computers as you like.↑ minimize
- Will you close my account if I withdraw all of my money and have zero account balance?
No, your account will not be closed if you have zero balance on it.↑ minimize
- How do I close my account?
To close your account, please withdraw all your funds and email your Account Manager stating that you would like to close your account.↑ minimize
- What is a lot?
A lot is the standard unit size of a transaction.↑ minimize
1 lot is 100,000 units of base currency.
0.1 of a lot is 10,000 units of base currency
0.01 of a lot is 1,000 units of base currency (this is the minimum lot size).
Base currency is the first one in the currency pair.
- What are your spreads?
- Are your spreads fixed?
- Do you allow hedging?
Yes, you may hedge your positions without any restrictions. (Only possible in MT4)↑ minimize
- Do you allow scalping?
Yes, we allow scalping. We do not have any special policies or restrictions on scalping.↑ minimize
- Do you guarantee stop losses?
Yes. We guarantee execution of Take Profit orders, Stop Loss orders and Limit Orders (only on the MT4 Fixed and MT4 Floating account types).↑ minimize
- I like to trade during news releases. Is that a problem?
- Can I place trailing stop orders?
Yes, you can. Please note that trailing stops become inactive when you log out of MT4. To read more, please see the complete MetaTrader User Guide.↑ minimize
- Can I trade with an EA (Expert Advisor or robot)?
Yes, you may trade with any Forex Expert Advisor you like.↑ minimize
- Can I trade Micro lots?
Yes, You may trade micro lots on our MT4 platforms.↑ minimize
- What are your lot increments?
The lot increment is 0.01. In other words the smallest lot size available is 0.01, then 0.02, 0.03, 0.04 and so on.↑ minimize
- Do you widen spreads during the Asian session or during economic releases?
During the news releases we normally do not widen the spreads, but we reserve the right for us to do so in some exceptional cases. During the Asian sessions we may widen the spreads for some financial instruments.↑ minimize
- What are your trading hours?
- What is your server time?
Our server time is EET (Eastern European Time), or EEST (Eastern European Summer Time) when applicable.↑ minimize
- What are the Asian session hours?
Asian trading hours are considered to run between 01:00 and 10:00 EET (Eastern European time)↑ minimize
- What is your margin requirement?
The margin requirement refers to the deposit used as collateral for taking a position in the market, or simply, the amount of money that FIBO requires from you to open a position, and it is expressed in percentages. FIBO requires a margin of up to 0.5%.
1:50 = 2% margin
1:100 = 1% margin
1:200 = 0.5% margin
- I got a margin call or stop out. Why did it happen?
If at any time Equity (current balance including open positions) is equal to or less than 20%* of the margin (collateral) occupied by open positions, a dealer is entitled at his discretion to close one or all open positions to meet margin requirements.↑ minimize
*or 100% on the MT5 NDD account type
- I cannot log in into my trading account but I need to close an open position, what do I do?
You may close or open a position over the telephone 24 hours a day (Monday to Friday). The dealing desk is available on +357 25 028 578. You will be asked for your MetaTrader login and telephone password for security reasons before your request can be executed.↑ minimize
- I disagree with the execution of my order or I have a claim. What should I do?
If you do not agree with the terms of carrying out an order, or if, in your opinion, an order was processed incorrectly, you should do the following:
- Log in to your personal cabinet;
- After the authorization procedure, choose the account number on which the claim (objectionable question) has occurred;
- Choose the “Claim” in the “Instruction” section and describe the incident as on the standard sample provided, specifying Ticket number, Date of ticket, Time when the problem occurred and Description of a problem;
- After compiling the instruction, please press the “Submit” button and your claim will automatically be forwarded to the back office of the company.
This procedure will help you avoid omissions when sending data via e-mail, and will also help to resolve the issue as soon as is practicable, but not more than within 24 hours.
- What are your SWAP charges?
Swap charges differ from one currency pair to another and are determined by the banks we work with. Swap rates can be found on our website under the “Contracts Specifications” page.
The swap rates are calculated on the base of LIBOR (London Interbank Offered Rate), which changes every day and we are counting them as once a week based on the risk-management analysis and market conditions. Change of swaps immediately displays on our website. Therefore, the swap on the same pair can be in one month both positive and negative.
- How are SWAP rates calculated?
The MT4 system calculates swap interest automatically at 23:59 GMT and the charge is debited or credited to and from the trading account accordingly. Swap rates are tripled on Wednesday at 23.59 GMT in order to compensate for the upcoming weekend as per the standard banking procedure. So if you rollover the position from Wednesday to Thursday, then the next value date is Monday, meaning the rollover fee indicated in “Contracts Specification” table has to be multiplied by 3.↑ minimize
- How long can I keep a position open?
You can keep a position open for as long as you like. Please make sure you have enough margin to maintain your position(s) to avoid getting a margin call or stop-out.↑ minimize
- What is the policy for holding positions open overnight and/or on weekends?
You can hold a position open overnight or over a weekend for as long as you like. Please note that swap interest will apply accordingly and will be charged or credited to your account.↑ minimize
- How can I view my trading history?
To view your trading history, please login into your MT4 account and press Ctrl+T on your keyboard. Click on the “Account History” tab at the bottom left, right click anywhere on the tab and select ”All History,” “Last 3 months,” “Last Month,” or “Custom period” as you require. You can view your account history from the very first trade. Also you can view the trading history in your personal client cabinet.↑ minimize
- What is the minimum deposit required to open a trading account?
The minimum deposit to open a trading account is $300 for the MT4 and $500 for the MT5 or the equivalent in another currency.↑ minimize
- How can I deposit funds into my account?
- Where can I find your bank details?
- What do you charge for depositing and/or withdrawing funds?
We do not charge any fees or commission for depositing or withdrawing funds. Please note however that the payment processor will impose their charges and the funds will be deposited to your account (or sent to you) after the deduction of all the relevant charges. The details of our bank charges are shown on our website. The fees and commissions charged by the clients’ banks would depend on the financial institutions and the arrangements that the clients have with them.↑ minimize
- Have you received my deposit?
- How long does it take to withdraw funds?
All withdrawal requests are processed the same working day that we receive them. In case your withdrawal request was received at the end of the working day or during the night, it will be executed on the next working (banking) day. A bank wire transfer normally takes 2-4 working days to reach your bank account.↑ minimize
- Can I deposit via PayPal and withdraw via bank?
PayPal is temporarily unavailable for Deposits & Withdrawals.↑ minimize
- Is it possible to keep an account open without any funds?
Yes, you can keep your account without any funds for the unlimited period of time. We will not close it. Once your account is open, there is no minimum balance requirement beyond the margin rates for any positions held in your account.↑ minimize
- How long would it normally take to deposit the funds through PayPal?
PayPal is temporarily unavailable for Deposits & Withdrawals.↑ minimize
If the funds are received during the working day between 10 am and 8 pm EET (Eastern European Time), they will appear on the trading account on the same working day. If the funds are sent on weekends or outside of the above hours, they will be deposited to the trading account on the next working day.
- What if my funds were sent through the PayPal, but have not been deposited to my account within one working day?
PayPal is temporarily unavailable for Deposits & Withdrawals.
The delay in depositing the funds may be caused by sending the funds by a third parties. In other words, if the sender’s name does not much the name of the account holder we cannot deposit the funds until:
- The client submits the beneficiary form and all the due diligence documentation for the person who sent the money or;
- The name of the PayPal account is different so it would not match the name of the trading account holder.
- What charges and commissions would apply if I send money by PayPal?
TPayPal is temporarily unavailable for Deposits & Withdrawals.↑ minimize
The current charges and commissions imposed by the PayPal are 3.4% commission and €0.35 transaction fees. The amount received will be deposited to your account net of the above charges. For the typical example of €300 being received, the computation will be as follows:
The amount sent: €300 Charges (€10.20 and €0.35) €10.55 The amount deposited €289.45
- What if my funds were sent in the different currency?
If the funds are sent in a currency different from that of the client’s trading account, they will be converted using the rate that appears at the “Ask” column of our Platform at the time-spot of the arrival of funds.↑ minimize