FiboGroup

FIBO Group broker operates under the FIBO Group holding, which was founded in 1998 in Vienna, Austria, and is one of the oldest active names in the forex market. FIBO Group serves Iranians with a Persian website and support, a cent account and Rial deposits. In this overview, we review FiboGroup's license, accounts, platforms, payment methods and risks based on Teagle's data.

What kind of broker is FIBO Group?

The FIBO Group holding's headquarters is still in Austria, while the broker's country of registration is listed on Teagle as Costa Rica. The group has expanded its presence in Europe, Asia and the CIS region, and its track record includes awards such as "Best CFD Broker" at Forex Expo 2011 and "Best Forex Execution Provider in Russia and the CIS" in 2012. The broker operates 24 hours a day, Monday to Friday, on Eastern European Time (EET). With about 28 years of history, FIBO Group ranks among the oldest brokers available to Iranians.

FIBO Group licenses and credibility

According to Teagle's latest review, FIBO Group holds only one active license: Financial Services Commission (FSC) under number SIBA/L/13/1063. This license falls into the category of offshore regulations, where oversight and investor protection mechanisms are far weaker than with bodies such as the FCA or CySEC. In other words, the holding's long history does not make up for the absence of a top-tier regulator. To understand the difference between these two types of oversight, read the article What are offshore and onshore brokers .

Does FIBO Group serve Iranians?

Yes. In Teagle's data, service to Iran, a Persian website, Persian support and instant verification are recorded for FIBO Group. According to the FAQ, a service called "Iran Bourse Online" provides clients residing in Iran with Rial deposits and withdrawals at a competitive rate (the "golden rate") and 5 to 7 percent cashback. However, since the broker's only license is offshore, an Iranian user has no solid legal backing if a dispute arises.

FIBO Group trading accounts

Teagle's accounts table shows four account types for FiboGroup:

• NDD No Commission account: minimum deposit $50, floating spread from 0.8 pips, leverage 1:400, stop-out 50 percent and 95 symbols.
• NDD account: minimum deposit $50, commission 0.003 percent, spread from zero, leverage 1:400 and stop-out 20 percent.
• Fixed account: minimum deposit $50, fixed spread from 2 pips, leverage 1:200 and 106 symbols.
• Cent account: minimum deposit 1 cent, spread from 0.6 pips, leverage 1:3000 and 45 symbols.

The two NDD accounts have an Islamic version, while the Fixed and Cent accounts do not. In a cent account, the balance and trades are shown in cents and trade volume is 100 times smaller, which makes it suitable for beginners and for testing trading bots. See the list of similar brokers in best brokers for cent accounts . Scalping and hedging are also allowed with this broker; if scalping is your trading style, don't miss the guide scalping in forex .

FIBO Group platforms and services

In the platforms section, MetaTrader 4, MetaTrader 5 and cTrader are listed for FIBO Group, but in the accounts table all four accounts are shown on MetaTrader 4; before opening an account, ask support which account your preferred platform is available for. Additional services include bonuses, cashback, rebates, PAMM, copy trading, phone trading and tools such as an economic calendar, trading informers, a price archive and an interest rate table. The broker also has a special partnership program, introduced in the article FIBO Group's Synergy partnership program . You can also follow bonus terms on the broker bonuses page .

Deposits and withdrawals at FIBO Group

FIBO Group's payment methods are varied. Deposits via Neteller, TCPay and Bitpay are free and instant; crypto deposits only incur network fees, and Swift transfers take up to 5 business days. For withdrawals, the Neteller fee is 2 percent (minimum $1), crypto 0.5 percent and TCPay 3 percent, while withdrawals via Iran Bourse Online and Radio Spare are free. The minimum deposit via Iran Bourse Online is $10, and withdrawals through this route take less than one day.

FIBO Group's rating and risk on Teagle

FIBO Group's final rating on Teagle is 2.82 out of 5, derived from the average of five sources: Teagle users 4, Teagle expert 3.7, Trustpilot 2.6, Forex Peace Army 2.03 and WikiFX 1.79. The low scores from international sources alongside the positive view of Teagle users are noteworthy. The Teagle Eye risk index for this broker is 48 out of 100, in the "medium risk" category; its long history earned a full score, but having only one offshore license and a low credibility score have raised the risk. See its position in the ranking of brokers with Iranian deposits .

Pros and cons of FIBO Group

• Pro: about 28 years of holding history and international awards
• Pro: cent account with a 1-cent minimum deposit and low-spread NDD accounts
• Pro: Rial deposits and withdrawals with cashback, plus Persian support
• Con: only one active license, and an offshore one at that
• Con: low ratings on WikiFX and Forex Peace Army
• Con: withdrawal fees on some methods and ambiguity about each account's platform

Who is FIBO Group suitable for?

FIBO Group is worth considering for Iranian traders who want a cent account, Rial deposits and an established broker with a variety of tools; beginners can start with the Cent account and a very small amount. But if oversight by a top-tier regulator is your first requirement, this broker does not provide it. Before deciding, weigh it against another established broker in the FIBO Group vs Alpari comparison .

Conclusion

FiboGroup, with its long history, varied accounts and Rial payments, offers good features for Iranian users, but its reliance on a single offshore license and low ratings in international sources mean you should approach it with caution. Start with a small amount of capital, make a test withdrawal and check the latest warnings on the investment risk warning page .