FIBO Group (Cyprus) is a NDD broker, offering trading in 42 currency pairs Forex and CFDs on precious metals on a selection of trading platforms. This is the trading name of FIBO Group Holdings Limited, registered as a Cyprus Investment Firm (CIF) and licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC).
|#||Broker's Features||FIBO GROUP Availability||FXTM Availability|
|#||Accepts US traders||❌||❌|
|#||24 hour trading||✔||✔|
|#||Trading by phone||❌||✔|
|#||1st deposit bonus||❌||❌|
|#||Forex contests competitions||❌||✔|
|#||Interest charges on the balance||❌||❌|
|#||24 hour support||✔||✔|
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will compare FIBO Group vs Fxtm.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. FIBO Group offers Online Financial Trading and Investment Services Such as FOREX, Spot Metals, CFDs, Bitcoin, while Fxtm offers Bitcoin, Forex, CFDs, CFDs on Bitcoin, CFDS on Spot metals, Cryptocurrencycurrency.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. FIBO Group is Broker, while Fxtm is Market Maker, ECN, STP.
Minimum Deposit Requirement: To compare these two FX brokers, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. FIBO Group recommended minimum capital is N/A, while Fxtm has a Minimum Deposit Requirement of 10.
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. FIBO Group is regulated by FSC, CySEC, FCA, while Fxtm regulated by CySEC, FCA, IFSC. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Account currencies: Next lets consider the Account currencies each broker offers. FIBO Group offers EUR, USD, GBP, CHF, RUB, BTC, Gold, ETH different account currencies for each account types, while Fxtm offers EUR, USD, GBP, NGN account currencies.
Languages Available: Next lets have a look at each broker's different Language options. FIBO Group offers English, Chinese, Farsi, Russian, Spanish, German,, while Fxtm offers English, Russian, over 18 languages supported Customer Support Languages.
Payment methods: Next lets have a look at each broker's payment options. FIBO Group offers Credit/Debit Cards, Bafoo, UnionPay, Fasapay, WebMoney, Bank Wire Transfer, Neteller different payment methods for each account types, while Fxtm offers Credit/Debit Cards, Bank Wire Transfer, PayPal, Bitcoin payment methods.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, FIBO Group makes MT4, MT5, cTrader available to clients, while Fxtm offers MT4, MT5, MT4 MultiTerminal, Web.
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, Fxtm is more reliable based on our criteria above. Fxtm has a wider range of instruments to trade giving you the flexibility to get access and exposure to a wide range of markets. Fxtm offers a wider range of platforms making it easier for the traders to choose one that matches their needs most. As Fxtm offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades. As a market maker, Fxtm may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
FXTM customer service gives fast and relevant answer. They can also be contacted in many languages. From a demo account to live webinars, you can use a lot of educational tools. The account opening is fast and fully digital.
FXTM charges inactivity and withdrawal fees. The financing costs for overnight positions are not lowest and their calculation is non-transparent at all. The product portfolio is limited as it lacks asset classes, like ETFs, bonds, mutual funds, etc.
Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Broker based on your precise requirements here.