The FIBO Group is very thorough and very detailed when comes to letting visitors to their website find out about who they are and what they do. The company is essentially a group of companies operating under the full banner of International Financial Holding FIBO Group. Its main mission is to facilitate Internet trading in the Forex (foreign exchange) and CFD (contract for difference) markets. They are rather good at summing it up themselves. “The key business area of the International Financial Holding FIBO Group is margin trading in financial instruments.”
The company called Financial Intermarket Brokerage On-Line got its start in 1998 as an investment-consulting firm. The year 2003 saw the start of a company called Cradlewood, Ltd that arranged Internet trading in the Forex market. That company was renamed FIBO Group, Ltd in 2004. FIBO Group added CFD trading to its list of services in June of 2005. FIBO Group opened an office in Shanghai in 2006.
FIBO Group’s website also describes its trading platform, MetaTrader 4, accurately as one of the most popular platforms in use today. Downloads of the software and user guide are available at the website as well.
A user can navigate to clearly written descriptions of the FIBO Group’s services right from the main page of the website. This is a big plus compared to the competition. Briefly described the FIBO Group services include the following:
Forex trading services that include:
- Low spreads from 2 points for main currencies
- Instant Execution technology
- Guaranteed execution of limit orders, S/L (stop loss) orders and T/P (take profit) orders at stated prices.
- A trade desk available for trade transactions via the Internet and over the telephone 24 hours a day: from 22:00 Sunday to 22.00 Friday (CET).
- 24-hour consultations with technical support specialists.
Example of how Fibo Managed account (PAMM) works:
- To activate a Managed account the Manager should deposit 300$ and lay down cooperation conditions: minimum deposit 300$, manager’s fee 50% of the profit, settlement period – 4 (four) weeks, automated extending of Managed account validity period (by default).
- The Manager starts trading and increases his/her deposit by 20% or $360, during the first week, moving higher in Manager’s rating. Let us assume some two Investors took interest in the results Manager achieved, each one of them decides to open a sub-account and deposits $600. Hence during the second week of trading deposit on the Managed account totals $1560. From the moment the funds have been deposited into sub-accounts the distribution of profits is carried out in accordance with share size of every participant. Manager’s share is $360 or 23% of deposit. The share of each Investor is $600 or 38,5 % of deposit.
- After four (4) weeks of trading the settlement procedure is performed. By this time the $1560 deposit increases by 20% and totals $1872. The Manager transfers back into his trading account $60, the initial profit he/she had made before sub-accounts were opened. After that trading is continued with $1812 deposit. Reduction of capital causes redistribution of shares on Managed account, therefore the Manager now owns 20,5% of deposit and Investors 39,75% each, correspondingly. The total profit made after three (3) weeks of trading is $312, where $72 is the profit of the Manager and $120 is the profit of each Investor.
- During the last week of trading before the settlement period total deposit $1812 increases by 20% and amounts to $2174. After four (4) weeks of investing into Managed account the profit of two Investors (after payment of 50% from total profit to the Manager) amounts to $132 each. The profit of the Manager after four (4) weeks of work with Investors amounts to $410.
- After the settlement period Manager is entitled to withdraw his/her profit from the Managed account. One of two Investors can withdraw all his/her funds, while the second one leaves his/her funds along with profit intact. The total deposit drops from $2174 to $1032. At the same time the redistribution of shares is performed. Now Manager owns 29% and Investor 71% of the total deposit. Up until the next redistribution period trades on Managed account are carried out in accordance with the size of shares (29% and 71% correspondingly).
CFD trading services that feature:
- More than 20 Contracts For Difference (CFDs) based on the most liquid global futures contracts
- Maximum possible correlation with real “live-time” stock exchange prices.
- Opportunity to gain from both price rises and price falls.
- Low margin requirements (low collateral).
- Low commission rates, from 1.2 US dollars (0.1 lot).
Partnership opportunities are also available.
Unfortunately, perhaps, as FIBO Group states: “Services described on our website are not available in the UK, the USA and Austria.”
Date posted: September 4, 2014