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Contract reading

What FIBO Group legally published, but does not want you to read

Every clause below is published by FIBO Group itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on . We have read it 2 times.

Contracting entity: FIBO Group, Ltd

sole discretionwithdrawalshidden feeclawbackcomplaint deadlinepartnerscountry restrictiondeemed acceptancelanguagepamm

FIBO Group, Ltd, a British Virgin Islands company, can charge up to $200 a day for documents you send late. It can freeze a payment it calls suspicious with no deadline, and refuse a withdrawal by another method without a reason. A fee becomes final unless you object within two working days. FIBO Group sells its 30% bonus as cash like your own, yet it can cancel the bonus and accepts no liability if that forces your trades closed.

Back to FIBO Group

Contract risk

Money at risk
8.0/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
7
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
29
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
24
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
7

How the 29 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical7
Warning22
Notice0

section 28 of 40is where the deepest clause sits, 70% of the way into the document it is in

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

4 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical30%Bonus requirement. Jump to the clause this comes from.Cancelling the 30% bonus can force your trades closedCritical$200Document deadline. Jump to the clause this comes from.Up to $200 a day for documents sent lateCritical6%Withdrawal limit. Jump to the clause this comes from.A withdrawal by another method can be refused without reasonCritical2 working daysTime to complain. Jump to the clause this comes from.Two working days to challenge a fee

What the documents say

29 clauses worth knowing about, worst first, each quoted from FIBO Group's own files

01

FIBO Group adds a 30% bonus to each deposit you make and lets it count as margin. It can cancel the bonus if it believes the deposit was money withdrawn earlier from another live account. Clause 5.4 then excuses it from any margin call or stop out, the forced closing of your trades, that the cancellation causes.

Why this matters

If FIBO Group removes the bonus while you hold positions, the losses from the forced closing come out of your own deposit. Its homepage calls the bonus cash that trades "just like your own deposited funds".

Exhibit 1CriticalHarder than usual30%

The company shall reserve the right to cancel the bonus if there are reasons to believe that the funds credited to a bonus account were previously withdrawn from other live accounts (via any payment agent or system), including but not limited to bank transfers or using other payment gateways etc. In no event will the company be liable to a client for possible negative results of bonus cancellation including Margin Call and Stop Out.
Clause 5.4 in Conditions of the bonus program “Real Cash Bonus 30%”, p.2
Downloaded from the broker's site on Open the reference
Set against a regulated standard: ESMA (EU), CySEC (Cyprus), FCA (UK), ASIC (Australia)

Under ESMA rules, which CySEC applies, and under FCA and ASIC rules, firms may not offer retail clients a deposit bonus for trading CFDs. FIBO Group offers 30% and keeps the right to cancel it without liability.

FIBO Group is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

02

FIBO Group gives you 14 calendar days to send documents it asks for. Miss that and clause 6.7 lets it charge up to $200 a day from day 15. When your balance is smaller than the fee, it can take whatever is left.

Why this matters

A paperwork delay becomes a charge that can empty your account. Clause 3.3.1 lets FIBO Group ask for documents whenever you deposit, withdraw, trade, look suspicious or stop trading.

Exhibit 2CriticalRarely seen$200

The Company reserves the right at any time and at its sole discretion to introduce a daily fee at the rate of up to 200 (two hundrer) US Dollars in case of incompliance by the Client with the requirements stipulated in paragraph 3.3.1. of this Agreement within 14 (fourteen) calendar days from the date of such request from the Company.
Clause 6.7 in Customer agreement, p.8
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Where it sits: section 17 of 40 in the Customer agreement, 43% of the way through.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Request sentFIBO Group asks you for identity or other documents.3.3.1
Day 14Your 14 calendar days to provide them run out.6.7
Day 15FIBO Group may start taking a daily fee of up to $200 from your account.6.7
Balance below the feeFIBO Group may take whatever balance is left.6.7
2 working days after each debitThe fee counts as agreed unless you have objected.6.7
  • Worse together with Exhibit 5Each daily fee becomes final unless you object within two working days of the debit.
03

FIBO Group can suspend any deposit or withdrawal of yours that it treats as suspicious until its own investigation ends, with no deadline. It decides what counts as suspicious by its own "subjective evaluation", and it can add new warning signs at any time.

Why this matters

Your money can sit frozen for as long as the review lasts, and the same rules say FIBO Group owes you nothing for refusing it. Depositing and withdrawing without trading is itself listed as a warning sign.

Exhibit 3CriticalHarder than usual

The Company reserves the right to investigate the nature of suspicious non-trading (financial) transactions, whereupon it can suspend such operations until clarification of their causes and conclusion of investigation.
Clause 1.4 in Regulations on non-trading (financial) transactions, p.2
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  • Worse together with Exhibit 17A frozen payment can only be disputed through the Client Area form within five business days, and disputing it lets FIBO Group block the account until the dispute ends.
04

FIBO Group expects you to take money out by the same method and in the same currency you paid in with. Ask for anything else and clause 4.9 lets it reject the request without giving any reason.

Why this matters

Pay in by card and your money is expected to go back to the card. FIBO Group's own fee page prices that route at 6% plus $2. If the card no longer works for you, no clause obliges FIBO Group to accept another route.

Exhibit 4CriticalHarder than usual6%

It is assumed that the Client shall withdraw funds from its trading account in the same currency and by the same method the trading account of this Client was credited. If the Client intended to withdraw funds from its trading account using a method different from the method this account was credited, or in a different currency the Company reserves the right to reject this operation without giving any reasons.
Clause 4.9 in Regulations on non-trading (financial) transactions, p.7
Read from the broker's site on Archived copyOpen the reference
  • Worse together with Exhibit 9A card deposit costs nothing, the same-method rule sends the money back to the card, and that withdrawal costs 6% plus $2.
05

FIBO Group takes fees straight from your account. Unless you object within 2 working days of the debit, clauses 6.6 and 6.7 treat the amount as indisputable.

Why this matters

Two working days can pass while you travel or fall ill. The same rule makes each daily fee of up to $200 final once the two days are over.

Exhibit 5CriticalHarder than usual2 working days

The Client agrees that the calculated amount of commissions or charges shall be deemed indisputable unless the Client declares its incorrectness within 2 (two) working days as from the date of its automatic writing off as set out in paragraph 6.2. of this Agreement.
Clause 6.6 in Customer agreement, pp.7-8
Read from the broker's site on Archived copyOpen the reference

Where it sits: section 16 of 40 in the Customer agreement, 40% of the way through.

Set against a regulated standard: FCA (UK)

Firms licensed by the FCA must let a client take an unresolved complaint about a charge to the Financial Ombudsman Service, which is free and independent. This contract treats a fee as settled if you stay silent for two working days.

FIBO Group is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

Profits, refunds and other balances can be taken on suspicion

FIBO Group's partner agreement lets it cancel orders and annul all profits if it merely suspects arbitrage by a partner's clients. Its payment rules let it take back refunded fees and bonuses without dispute, and close and cancel trades after a deposit from someone else's account. Clause 5.17 lets it cover a negative balance on one of your accounts with money from the others.

Clawback powers4 clauses flagged

If you joined through a FIBO Group partner, the partner's contract reaches you too. It lets FIBO Group cancel all orders and annul all profits, even when it only suspects wrongdoing. The trigger is fraud, collusion or arbitrage by the partner or by any of the partner's clients.

Why this matters

Your profits can be wiped over what another client of the same partner is suspected of doing. You never sign the partner's agreement, and the clause does not say whose profits it covers.

Exhibit 7CriticalRarely seen

The Principal reserves the right at its absolute discretion to: terminate this Agreement; detach a Client from the Agent; cancel all orders and annul all profits; or if the Agent or any of the Agent’s Clients commit or, the Principal suspect that the Agent or any of the Agent’s Clients commits any fraud in the use of or abuse of the Principal’s Partnership Program or any attempt of collusion or manipulation or arbitrage or other forms of deceitful or fraudulent trading or other activity or breach of this Agreement or its annexures or breach the relevant applicable laws, and the Principal shall
Clause 12.2 in Agency Agreement, p.9
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Buried at section 19 of 30 in the Agency Agreement, 63% of the way through.

When FIBO Group calls one of your payments suspicious, clause 1.6.5 lets it take back fee refunds and bonuses it paid you earlier, without dispute. It can also charge you the related costs and close your open positions.

Why this matters

FIBO Group can reverse both the free deposit and the bonus long after you received them. The decision rests on a suspicion test that FIBO Group applies by its own judgement.

Exhibit 11WarningHarder than usual

Indisputably withhold the sums of fees, bonuses (interest) from the trading account of the Client compensated to the Client earlier under non-trading (financial) transactions (if any).
Clause 1.6.5 in Regulations on non-trading (financial) transactions, p.2
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The name on your card or bank account must fully match the name on your FIBO Group account. If it does not, FIBO Group returns the money minus its costs and may close and cancel all your open trades.

Why this matters

A deposit from a spouse's card, a joint account or a company account can trigger the rule. It does not say what happens to the profit on a trade FIBO Group cancels.

Exhibit 12WarningHarder than usual

The name of the cardholder or bank account holder must fully correspond to the name of the trading account holder with FIBO Group, Ltd. Payments made on behalf of third parties will be returned to the sender.
Clause 3.2.5 in Regulations on non-trading (financial) transactions, p.4
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If one of your FIBO Group accounts goes below zero, clause 5.17 lets the company cover the loss from your other accounts. No document offers negative balance protection, the rule that caps a loss at the money in that account.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

A sudden price jump on a high-leverage account can reach money you kept in another account on purpose. FIBO Group advertises leverage of up to 1:5000 on MT5 Cent accounts.

Exhibit 13WarningHarder than usual

In the event when there are fixed losses in the form of negative balance on one of the Trade Accounts (or several of the Trade Accounts) the Company shall unilaterally be entitled to compensate such losses at the cost of the positive balance Trade Accounts.
Clause 5.17 in Customer agreement, pp.6-7
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Where it sits: section 15 of 40 in the Customer agreement, 38% of the way through.

Set against a regulated standard: ESMA (EU), FCA (UK), ASIC (Australia)

Under ESMA rules and FCA and ASIC rules, retail CFD clients get negative balance protection, which limits a loss to the funds in that trading account. This contract offers none and lets FIBO Group recover a negative balance from your other accounts.

FIBO Group is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Two working days to challenge a fee, five to complain about anything else

FIBO Group's customer agreement makes any fee final unless you object within 2 working days of the debit. Every other claim must arrive within 5 working days, in English. You also agree never to complain about a payment approved with your SMS code. Complain about a payment anyway and FIBO Group can block your account until the dispute ends.

Complaint deadlines4 clauses flagged

FIBO Group approves withdrawals and other orders in your Client Cabinet with a one-time code sent by SMS. The agreement says you will not file complaints, claims or suits over any payment made on such a code.

Why this matters

If someone takes over your phone number and empties your account, you have agreed in advance not to complain. The agreement also treats every code as sent from your own phone.

Exhibit 6CriticalHarder than usual

The Client hereby agrees and acknowledges that he shall not file complaints, claims, suits against the Company arising out of the Company’s performance of any act (payment, etc.) if performance of this act was due, in particular, to the one-time verification password sent by the Client.
Clause 5.22 in Customer agreement, p.7
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Where it sits: section 16 of 40 in the Customer agreement, 40% of the way through.

Any claim you have against FIBO Group must reach it within 5 working days of the act you complain about. FIBO Group does not accept claims in any language other than English. If the dispute reaches court, the losing side pays the other side's legal costs.

Why this matters

Five working days is often less time than it takes to notice a problem. If English is not your language, you also pay to have your claim translated.

Exhibit 16WarningHarder than usual5 working days

Within 5 (five) working days as of the date of act performed or not performed (omission) which involves the claim the Party Concerned shall address the other Party specifying the particular rights and/or provisions of the Agreement that are violated and the measures necessary to restore the violated rights of the Party Concerned.
Clause 15.3.1 in Customer agreement, p.12
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Buried at section 26 of 40 in the Customer agreement, 65% of the way through.

Set against a regulated standard: FCA (UK)

Firms licensed by the FCA must give a final answer to a complaint within eight weeks and then let the client go to the Financial Ombudsman Service. FIBO Group gives you five working days to complain and names no independent body.

FIBO Group is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

If you dispute a deposit or withdrawal, FIBO Group can block some or all transactions on your accounts until the dispute ends. It does not consider payment claims sent by email, and it may dismiss a claim that contains "emotional evaluation" of the dispute.

Why this matters

FIBO Group's own complaints procedure tells you to email service@fibogroup.com, yet the payment rules ignore an emailed payment claim. Use the feedback form in the Client Area and keep the wording factual.

Exhibit 17WarningRarely seen

The Company reserves the right to partially or fully (as the case may be) block (depending on the merits of dispute) the transactions in the trading account (s) of the Client until the disputes are settled or the Parties reach intermediate (preliminary) agreement.
Clause 6.8 in Regulations on non-trading (financial) transactions, p.8
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The customer agreement says FIBO Group is never liable to you for damage or loss under it. It also makes you bear every loss not caused by its wilful unlawful acts. The payment rules say FIBO Group is liable for any damage its failures cause you.

Why this matters

If a mistake by FIBO Group costs you money, its documents give both answers. Under clause 9.4, only a court can decide that FIBO Group acted wilfully.

Exhibit 18WarningHarder than usual

The Company shall not be held liable to the Client for any damages, losses, loss of profit, loss of opportunities (due to potential market movements) expenses or damage under this Agreement.
Clause 10.2 in Customer agreement, p.10
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Where it sits: section 23 of 40 in the Customer agreement, 57% of the way through.

The sales pages promise what the rules take back

FIBO Group sells MT4 Fixed accounts with "No spread change on news", while their trading rules let spreads widen when markets are volatile. Its Russian and Persian pages say the cTrader proxy gets you past government restrictions. Its customer agreement makes you promise that you break no law that applies to you.

Language arbitrage2 clauses flagged

FIBO Group sells MT4 Fixed accounts with fixed spreads, the gap between its buying and selling prices, and "No spread change on news". The trading rules for the same accounts let FIBO Group widen spreads for a time when markets are volatile or thin. They tell you to keep checking its website for the current spread.

Why this matters

News is when markets are most volatile, so the promise can fail exactly when it matters. A wider spread costs you more on every trade you open or close at that moment.

Exhibit 26Warning

Hereby FIBO Group informs all its clients that spreads on this type of account can be temporary increased due to high volatility and (or) low liquidity on the market.
Quoted in Forex trading rules for MT4 Fixed accounts
Read from the broker's site on Open the reference
Our own capture of fibogroup.com, taken on Oct 25, 2026The claim, on English MT4 Fixed account page, list of account advantagesVisit this page on the broker's siteDownload the full size image file
Our own capture of fibogroup.com, taken on Oct 25, 2026What the contract saysVisit this page on the broker's siteDownload the full size image file

FIBO Group's Russian and Persian pages say the cTrader proxy lets you connect from anywhere, getting past government restrictions. The English page says only that it overcomes "any barriers". Its customer agreement makes you promise that using its service breaks no law that applies to you.

Why this matters

If your country restricts forex trading and you rely on that pitch, you breach the agreement. Clause 2.4 then lets FIBO Group end it, and the risk notice puts every loss from a local ban on you.

Exhibit 27Warning

Performance of this Agreement shall by no means result in breach of legal requirements applicable to the Client, and of any other current obligations of the Client to any third parties;
Clause 2.1.2 in Customer agreement, p.2
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Our own capture of fg-persian.com, taken on Oct 25, 2026The claim, on Persian homepage, cTrader platform section; FIBO Group links this site as its Persian version from the language menu on fibogroup.comVisit this page on the broker's siteDownload the full size image file

Where it sits: section 2 of 40 in the Customer agreement, near the start.

Free to pay in, 6% plus $2 to take out by card

FIBO Group advertises 0% on any deposit by any method, but its payment rules put every transfer cost on you. The 0% is a promotion it can withdraw, and it repays bank fees only on deposits over $1,000, up to $30. Taking money out costs 6% plus $2 by card and around $35 to $50 by bank transfer.

Cost disclosure2 clauses flagged

FIBO Group advertises 0% on any deposit by any method, but its payment rules make every transfer cost yours. The 0% is a refund it calls a promotion. It repays bank fees only on deposits over $1,000, and only up to $30, and never repays crypto network fees.

Why this matters

A bank deposit of $1,000 or less gets no refund of bank charges at all. FIBO Group can also refuse the refund, or cancel one already paid, if it decides the promotion was abused.

Exhibit 8WarningHarder than usual$30

The Client hereby understands and agrees that all commission fees and other costs pertaining to the selected method of crediting the trading account of the Client shall be paid at Client’s expense.
Clause 3.3 in Regulations on non-trading (financial) transactions, p.4
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  • Worse together with Exhibit 11The deposit fees FIBO Group repays are among the earlier compensated sums that clause 1.6.5 lets it take back without dispute.

FIBO Group advertises free deposits, but its fee page charges 6% plus $2 to withdraw to a card. A bank transfer out costs around $35 to $50, e-wallets 1% to 3%, and some crypto routes 0.5%.

Why this matters

The fee comes out of the amount you withdraw. The payment rules say the binding rates sit in the Client Area, and FIBO Group can change them alone.

Exhibit 9WarningHarder than usual6%

6% + 2 USD
Quoted in Deposit and withdrawal options
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Set against a regulated standard: CySEC (Cyprus), FCA (UK)

Firms licensed by CySEC or the FCA must tell a retail client all costs and charges before providing a service. FIBO Group's payment rules leave withdrawal fees to the Client Area and let the company change them alone.

FIBO Group is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

A withdrawal can be frozen with no deadline, or refused with no reason

FIBO Group's payment rules let it suspend any transaction it calls suspicious until its own investigation ends, judged by its "subjective evaluation". It can refuse, without reasons, a withdrawal by a different method or currency from your deposit. PAMM money can sit blocked for up to 60 days, and the German PAMM rules give a later deadline than the English ones.

Exit conditions2 clauses flagged

A PAMM account lets a manager trade money pooled from investors. If you manage one, your own capital stays locked for the account's whole life. FIBO Group can also hold a penalty owed to you for up to 60 calendar days if it finds an investor suspicious.

Why this matters

As a manager you carry the investors' risk with money you cannot take out until the account closes. FIBO Group can also close a PAMM account after 90 days without activity, without giving reasons.

Exhibit 14WarningHarder than usual60 days

The Company reserves the right at any time to block the funds owed to the Manager as the penalties for unplanned (early) withdrawal of funds by the Investor for a period not exceeding 60 calendar days. (This procedure is applied if the Company presumes the activity of the Investor to be suspicious).
Clause 8.4 in Procedure for provision of the «Managed account (PAMM)» service, p.8
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FIBO Group's English PAMM rules accept a planned withdrawal request until 05:30 on the last Saturday of the investment period. The German version of the same rules says Sunday. Its guarantee also drops the word "only", so in German it reads as a promise that you can withdraw everything you paid in.

Why this matters

Follow the German deadline and your request may arrive after the English one has passed. FIBO Group then reinvests your money for another week, unless you take an early withdrawal and pay its penalty.

Exhibit 15Warning

The requests of Managed account participants for planned withdrawals of profits or the entire balance are accepted not earlier than one week before the end of the Investment period and not later than 05:30 EET on the last Saturday of the current Investment period.
Clause 8.6 in Procedure for provision of the «Managed account (PAMM)» service, p.8
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The 30% bonus can be taken back, and the stop out that follows is yours

FIBO Group adds 30% to every deposit, up to $25,000, and sells it as cash that works like your own money. Its bonus terms let it cancel the bonus on suspicion and accept no liability for the margin call or stop out that follows. Its cashback rate comes from a wheel spin, between $1 and $5 per $1,000,000 traded, and FIBO Group can take credited rebates back.

Promotion terms1 clause flagged

FIBO Group sets your cashback rate each month with a random number generator that you trigger by spinning a wheel. The rate lands between $1 and $5 per $1,000,000 traded. Miss the monthly spin and you get no cashback at all.

Why this matters

The cashback page says the money is yours to use "without any restrictions". The terms let FIBO Group deduct rebates already credited if it detects misuse, a word they never define.

Exhibit 23WarningRarely seen$5

The cashback rate is determined by the client through a random number generator in their Personal Account.
Clause 2.1 in Cashback Program Terms, p.1
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The rules change on a website notice, and the banned-country lists disagree

FIBO Group can amend its customer agreement at any time with 10 working days' notice on its website. The amendments never appear in the text you downloaded, and the payment rules make you check the site at least once a week. Its documents give three different lists of countries whose residents it will not accept.

Moving goalposts2 clauses flagged

FIBO Group can amend your agreement at any time, at its sole discretion, by posting a notice on its website 10 working days ahead. Clause 17.3 says the amendments never change the text of the agreement itself. The payment rules make you check the website at least once a week.

Why this matters

The PDF you saved when you opened your account may no longer be your contract. To know your current terms, you must find every notice FIBO Group has posted since.

Exhibit 21WarningHarder than usual

The Company shall amend this Agreement at any time and at its sole discretion.
Clause 17.1 in Customer agreement, p.13
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Buried at section 28 of 40 in the Customer agreement, 70% of the way through.

The customer agreement bars residents of eight places, among them Costa Rica and the British Virgin Islands. The client acceptance policy leaves those two out, and the website footer names only the UK, North Korea and the USA. Check all three before you open an account.

Why this matters

If you live in Costa Rica and relied on the acceptance policy, you broke a promise in the customer agreement on the day you signed. Clause 2.4 then lets FIBO Group end your agreement on its own.

Exhibit 22WarningStandard wording

The Client is not a resident or tax resident of Australia, Belgium, BVI, Costa Rica, Russia*, the United Kingdom, the North Korea and the USA.
Clause 2.1.4 in Customer agreement, p.2
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Where it sits: section 2 of 40 in the Customer agreement, near the start.

British Virgin Islands courts for you, a choice of forum for FIBO Group

FIBO Group's customer agreement sends every dispute to the courts of the British Virgin Islands, in English. Only FIBO Group can move a dispute to the London Court of International Arbitration. Its agency agreement goes further for partners: FIBO Group can pick another country's courts and declare British Virgin Islands law no longer applies.

Courts and law2 clauses flagged

Every dispute goes to the courts of the British Virgin Islands, in English, and you give up any objection that the forum is inconvenient. FIBO Group alone can move a dispute to the London Court of International Arbitration instead.

Why this matters

Suing from Asia, the Middle East or Latin America means hiring a lawyer in the British Virgin Islands. Clause 18.6 also stops you from arguing that you did not understand the English contract.

Exhibit 19WarningHarder than usual

Agrees that courts of the British Virgin Islands shall have the right to exclusive jurisdiction which determines any proceedings in relation to this Agreement;
Clause 14.2.1 in Customer agreement, p.12
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Buried at section 27 of 40 in the Customer agreement, 68% of the way through.

If you sign up as a FIBO Group partner, FIBO Group can take a dispute to a court in any country it chooses. Clause 9.3 also lets it declare that British Virgin Islands law no longer applies, and pick another.

Why this matters

You cannot know your rights under the agreement in advance, because FIBO Group can change the law that defines them. It can also end the agreement on one business day's notice.

Exhibit 20WarningRarely seen

Without prejudice to the regulations stipulated in the paragraph 9.2 of the present Agreement the dispute must be tried in competent court of British Virgin Islands or competent court of other jurisdiction determined exclusively by the Principal.
Clause 9.3 in Agency Agreement, p.8
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Where it sits: section 17 of 30 in the Agency Agreement, 57% of the way through.

FIBO Group can be your counterparty, and partners earn from your spread

On MT4 Fixed accounts FIBO Group acts as market maker, yet its documents give conflicts of interest two sentences. Partners who bring in clients earn 25% to 65% of the spread or commission those clients pay. On Affiliate accounts the client pays an extra markup, and a side agreement credits that markup to the partner.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Whose side2 clauses flagged

FIBO Group's own account page says it acts as market maker on MT4 Fixed accounts, so it takes the other side of your trades. Its documents give conflicts of interest two sentences, and its risk notice makes its own server the only reliable price.

Why this matters

When FIBO Group is your counterparty, your loss can be its gain, and you trade on prices it supplies. FIBO Group also offers its 30% bonus on MT4 Fixed accounts.

Exhibit 24WarningStandard wording

On MT4 Fixed accounts FIBO Group acts as a market maker, providing quotes with fixed spreads starting from 2 pips.
Quoted in MT4 Fixed
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Set against a regulated standard: CySEC (Cyprus), FCA (UK)

Firms licensed by CySEC or the FCA must keep a written conflicts of interest policy and give clients a description of it. FIBO Group's documents contain two sentences on the subject and no policy.

FIBO Group is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

FIBO Group pays the partner who signed you up 25% to 65% of the spread or commission you pay. On its Affiliate account types you also pay an extra markup on every trade, and a separate agreement credits that markup to the partner.

Why this matters

A partner who advises you is paid more when you trade more, and more again on an Affiliate account. If a partner offers to collect your deposit, FIBO Group's agreement calls that the partner's private service, with no relation to the company.

Exhibit 25WarningHarder than usual65%

The trading conditions on the affiliate group account types are exceptional and the main difference is a mark up to the spread (in case of MT4 Fixed Affiliate, MT4 NDD Affiliate, MT4 NDD No Commission Affiliate types of accounts) and a mark up to the commission charged to the clients for trading (in case if it is MT4 NDD Affiliate (Com.) type of account).
Quoted in Terms of trade on the affiliate group types of accounts, p.1
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Set against a regulated standard: CySEC (Cyprus), FCA (UK)

Firms licensed by CySEC or the FCA must tell clients about any fee or commission paid to a third party in connection with their service. FIBO Group's Affiliate trading terms mention the markup but not who receives it.

FIBO Group is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

91 days without a trade, then up to $5 a month until the balance is gone

FIBO Group can charge up to $5 a month on any account with no trade for 91 calendar days, after posting 10 days' notice. When the balance is smaller than the fee, it takes whatever is left. FIBO Group can also ask a dormant account for documents, which opens the door to a daily fee of up to $200.

In plain words

Dormancy means an account left unused.

Dormancy1 clause flagged

Your account counts as dormant after 91 calendar days without a trade. FIBO Group can then charge up to $5 a month, once it has posted 10 days' notice on its website. When your balance is smaller than the fee, it takes what is left.

Why this matters

Money you leave with FIBO Group during a break from trading slowly turns into fees. FIBO Group can also ask a dormant account for documents, which opens the door to the daily fee of up to $200.

Exhibit 10WarningHarder than usual$5

The Company reserves the right at any time and at its sole discretion to introduce regular dormant (inactive) Trade Account maintenance fee at the rate of up to 5 (five) US Dollars, or equivalent thereof, per month (the “Fee”) while a particular Trade Account being dormant (inactive).
Clause 6.3 in Customer agreement, p.7
Read from the broker's site on Archived copyOpen the reference

Where it sits: section 16 of 40 in the Customer agreement, 40% of the way through.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
10 days beforeFIBO Group posts notice of the dormancy fee on its website.6.4
Day 91An account with no trade for 91 calendar days counts as dormant.6.3
Every monthFIBO Group may take up to $5 from the dormant account.6.3
Balance below the feeFIBO Group may take the remaining balance instead.6.3
  • Worse together with Exhibit 2Clause 3.3.1 lets FIBO Group ask a dormant account for documents, so a quiet account can face the monthly fee and then the daily fee of up to $200.

One brand, two company numbers, two licence numbers

FIBO Group's customer agreement names FIBO Group, Ltd, company number 549364, while its PAMM rules name company number 549363 at a different registered office. Its site cites licence SIBA/L/13/1063 and its data policy cites SIBA/L/14/1063. No document says client money is kept apart from the company's own.

Who you deal with2 clauses flagged

FIBO Group's customer agreement names company number 549364. Its PAMM rules name 549363, a different registered office, and any company of the FIBO Group holding as the provider of your PAMM service. Its site cites licence SIBA/L/13/1063, but its data protection policy cites SIBA/L/14/1063.

In plain words

Remuneration means payments it receives.

Why this matters

If you invest through PAMM, the rules do not say which company holds your money. Check the licence number on the regulator's own register before you deposit. Clause 5.7 even sends you to firogroup.com, not fibogroup.com, and the KYC policy lists an Australian phone line though FIBO Group bars Australians.

Exhibit 28Warning

«FIBO Group, Ltd» a Business Company incorporated in the British Virgin Islands (BVI Business Company Number 549364).
Quoted in Customer agreement, p.1
Read from the broker's site on Archived copyOpen the reference

FIBO Group's customer agreement says only that it keeps your funds with a bank that serves the company. It can change that bank at any time. No document says it holds client money apart from its own, or names a compensation scheme or an independent complaints body.

Why this matters

If FIBO Group failed, nothing in its documents would keep your balance out of its creditors' reach. FIBO Group reviews complaints itself, through its Head of Customer Service.

Exhibit 29Warning

The Client agrees that the Company shall keep the Client’s funds with bank which serves the Company hereinafter referred to as the “Servicing Bank”). The Company shall reserve the right to change the Servicing Bank at any time at its sole discretion.
Clause 5.6 in Customer agreement, p.6
Read from the broker's site on Archived copyOpen the reference

Where it sits: section 12 of 40 in the Customer agreement, 30% of the way through.

Set against a regulated standard: FCA (UK), ASIC (Australia), CySEC (Cyprus)

Firms licensed by the FCA, ASIC or CySEC must hold retail client money in segregated accounts, apart from the firm's own money. FIBO Group's agreement says only that it keeps your funds with its servicing bank.

FIBO Group is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The homepage sells the bonus as cash that works like your own money, while clause 5.4 lets FIBO Group cancel it and disclaim the stop out that follows.

Said in public, in English

Cash, not leverage — trades as margin, just like your own deposited funds

English homepage banner for the Real Cash Bonus 30%

In the contract · clause 5.4

The company shall reserve the right to cancel the bonus if there are reasons to believe that the funds credited to a bonus account were previously withdrawn from other live accounts (via any payment agent or system), including but not limited to bank transfers or using other payment gateways etc. In no event will the company be liable to a client for possible negative results of bonus cancellation including Margin Call and Stop Out.

02

The homepage promises free deposits by any method, while the payment rules put every transfer cost on you and leave the refund to FIBO Group.

Said in public, in English

0% commission on any deposit, for any account, by any method

English homepage banner for the No Fee Deposit promotion

In the contract · clause 3.3

The Client hereby understands and agrees that all commission fees and other costs pertaining to the selected method of crediting the trading account of the Client shall be paid at Client’s expense.

03

The complaints procedure invites complaints by email, while the payment rules say FIBO Group will not consider an emailed claim about a payment.

Said in public, in English

Send the e-mail to service@fibogroup.com

FIBO Group's published complaints procedure, linked in the footer of its sites

In the contract · clause 6.2

Any requests delivered otherwise (via a forum, e-mail, telephone, etc.) shall not be considered or investigated.

04

The cashback page says credited rebates are yours without restriction, while the terms let FIBO Group deduct rebates already credited for undefined misuse.

Said in public, in English

The funds received can be used at your discretion without any restrictions.

English cashback page, Program Terms section

In the contract · clause 4.1

FIBO Group reserves the right to cancel rebate accrual or deduct previously credited rebate if any misuse of the program by the client is detected.

05

The account page promises the spread will not change on news, while the trading rules let FIBO Group widen it in volatile or thin markets.

Said in public, in English

No spread change on news

English MT4 Fixed account page, list of account advantages

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of fibogroup.com

In the contract

Hereby FIBO Group informs all its clients that spreads on this type of account can be temporary increased due to high volatility and (or) low liquidity on the market.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of fibogroup.com

06

The Russian homepage sells a way past government restrictions, while the Russian agreement makes you promise your use of the service breaks no law that applies to you.

Said in public, in Russian

Легко настраиваемый прокси-сервер позволяет легко подключиться из любого места, преодолевая государственные ограничения и корпоративные запреты.

Word for word in English: An easily configurable proxy server lets you connect easily from any place, overcoming government restrictions and corporate bans.

Russian-language homepage, cTrader platform section

In the contract · clause 2.1.2

Исполнение настоящего Соглашения никоим образом не повлечет за собой нарушения требований законодательства, применимого к Клиенту, а также любых иных действительных обязательств Клиента перед любыми третьими лицами.

07

The Persian homepage tells readers the proxy gets them past government bans, while the English agreement makes doing so a breach that lets FIBO Group end the contract.

Said in public, in Persian

به علت سادگی تنظیمات سرور پروکسی شما به موانع و ممنوعات دولتی و خصوصی فاعق آمده، امکان برقراری اتصال در هر مکانی را به دست می‌آورید.

Word for word in English: Because the proxy server settings are simple, you overcome government and private obstacles and prohibitions and gain the ability to connect from any place.

Persian homepage, cTrader platform section; FIBO Group links this site as its Persian version from the language menu on fibogroup.com

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of fg-persian.com

In the contract · clause 2.1.2

Performance of this Agreement shall by no means result in breach of legal requirements applicable to the Client, and of any other current obligations of the Client to any third parties;

The documents this reading is based on

24 files, all published by FIBO Group. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording FIBO Group publishes.

How this reading was done

Every clause above was read out of a document FIBO Group publishes itself

This reading was published on . It is the newest of 2 readings we keep of these documents. See every reading.

Documents
22 of 24downloaded from the broker's site, and 22 read in full
Pages opened
80pages walked to find those documents, footer links included
Older copies
15earlier versions downloaded, 13 identical to the copy we hold by fingerprint
Marketing pages
11public pages set against what the contract says
Languages
EN vs FA vs RUthe language it advertises in, against the language it contracts in
Position measured
14clauses whose position was counted: which numbered section of the document holds them, out of how many

Who the contract is with

FIBO Group, Ltd

The customer agreement makes FIBO Group, Ltd your counterparty: a BVI Business Company, number 549364, registered at the O'Neal Marketing Associates Building in Road Town, Tortola. The PAMM rules, dated 2013, instead describe an International Business Corporation numbered 549363 at Commonwealth Trust Limited, Drake Chambers, and define the provider as any company of the FIBO Group holding. FIBO Group's licence page says its British Virgin Islands licence SIBA/L/13/1063 lets it deal as agent and as principal, while its data protection policy gives the number as SIBA/L/14/1063.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

Every time we have read this contract

We keep 2 readings of FIBO Group’s documents, newest first. Each one shows what we said at the time.

2 readings

What changed since Sep 12, 2026

The counts below are about our own list of clauses. A clause can join it because the broker added it, or because this reading found something the last one missed.

New on our list
13 clauses
Off our list
3 clauses
We rate critical
7 now, 7 then
Our risk score
8 out of 10, unchanged

Sixteen of FIBO Group's 19 documents are unchanged since September. The $200 daily fee (6.7), the two working days to dispute a fee (6.6) and the no-reason withdrawal refusal (4.9) all still stand. New to this page are the reissued 30% bonus terms, whose clause 5.4 excuses FIBO Group from a stop out its cancellation causes, and clauses we had not reported before: 3.2.5, 6.8 and 1.6.6 of the payment rules, 5.17 and 2.1.2 of the customer agreement, 9.3 of the partner agreement, the MT4 Fixed spread rule and the Russian and Persian proxy claims. We now rate the $5 dormancy fee (6.3) a warning instead of a critical, because FIBO Group may only introduce it with notice, and the risk score stays at 8.0.

The counts above are the totals each reading published. They show that a total moved. They do not yet say which single clause was added or dropped.

  1. CurrentRisk 8/1029 clauses7 critical
  2. Risk 8/1019 clauses7 criticalReplaced

We keep every past reading so you can check what we said before, and when we said it. Those pages are archived snapshots of an older contract, so search engines are asked not to index them.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

FIBO Group publishes its whole document set free on each regional site, with the customer agreement in English and Russian and the PAMM rules in English and German. The agreement's own power to cancel a trade is narrow: clause 4.9 covers only a wrong quote caused by a terminal malfunction. The NDD trading rules promise that a limit order is never filled at a worse price, and the MT4 Fixed page says openly that FIBO Group is the market maker there. The bonus terms let you withdraw profit made with bonus money without restriction, and the KYC policy says FIBO Group must explain its reasons when it ends service.

This review covers all 19 current documents in full, plus the trading rules for MT4 Fixed and MT4 NDD accounts and the public deposit and withdrawal page. The 30% bonus terms PDF does not copy out as readable text, so it is quoted as the PDF displays it. The same applies to parts of the risk notice and the English PAMM rules, and our quotations follow the displayed text. The earlier bonus terms file is no longer on FIBO Group's site and we found no saved copy, so we cannot say which bonus clauses are new. The Russian customer agreement is compared with the English one on fees, deadlines, banned countries and language only. The review does not cover the Italian, Spanish, Portuguese, Polish, Ukrainian, Arabic, Turkish, Vietnamese, Indonesian, Thai or Malay versions of any document, or the trading rules for MT4 Cent, MT5 and cTrader accounts. It covers the marketing pages in English, Chinese, German, Russian and Persian. The payment rules put the binding fee schedule in the Client Area, behind a login, so the fees we quote come from the public fee page. Thirteen earlier copies are identical to today's files.

How to check any of this yourself

Every quote above links to the FIBO Group file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document FIBO Group publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge FIBO Group on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Oct 25, 2026.

If you represent FIBO Group and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on FIBO Group. Whether its licence is real and current is a separate check on the broker profile.

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