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||SAXO BANK 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 Saxo Bank.
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 Saxo Bank offers Currencies, Commodities, Indices, Stocks, Bonds, Futures.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. FIBO Group is Broker, while Saxo Bank is Dealing Desk, Market Maker, 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 Saxo Bank has a Minimum Deposit Requirement of .
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 Saxo Bank regulated by ASIC, DFSA, FCA, FSA, FSC. 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 Saxo Bank offers 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 Saxo Bank offers Arabic, Chinese, Czech, Danish, Dutch, English, French, German, Greek, Hebrew 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 Saxo Bank offers Credit/Debit Cards, Bank Wire Transfer 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 Saxo Bank offers SaxoTrader, TradeMaker.
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, FIBO Group is more reliable based on our criteria above. Only FIBO Group Offers the MetaTrader Platform. MetaTrader platform is a comprehensive trading platform that is often touted as being the best for forex trading. A popular, versatile and unique tool. FIBO Group offers a wider range of platforms making it easier for the traders to choose one that matches their needs most. FIBO Group offers a wider range of Account currencies. Why does base currencies matter? Because if you fund your account in the same currency as your bank account, currency conversion fees won't be charged. One of the criteria we looked at before opening an account on a forex broker is the minimum deposit amount. FIBO Group broker offers lower minimum deposit requirement. Only FIBO Group provides training and education resources which is extremely critical to beginner traders who may not be familiar with most of what goes on in the Forex markets.
Saxo's forex, bond, options, and futures trading fees are high. The account opening is slow as it can take more than 3 days. Its live chat customer support is missing.
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.