To be able to fully access all the features offered by the FIBO Group broker, account verification is required. Check out the step-by-step guide in this article.
FIBO Group is a Cyprus-based forex and CFD broker offering trading on MT4, MT5, and cTrader, with a variety of live, PAMM, and demo account options. Operating since 1998, this broker is considered one of the first brokers to operate in the Forex market. In terms of legality, this broker is licensed and regulated in the EU by the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Commission (FSC) in the British Virgin Islands.
Not only that, but FIBO has also won several awards of "Best ECN Broker" at the Forex EXPO in 2014 and "Most Trusted Forex Broker 2014" according to China International Investment and Finance Expo.
Opening a trading account at FIBO Group is very easy to do, the entire process can be completed in just a few steps. The initial step is to fill out the registration form, followed by submitting personal documents for verification purposes. This verification step must be carried out to comply with the regulations set by regulatory bodies to avoid money laundering activities. In addition, this verification step is necessary to unlock special features on the FIBO Group broker.
There are 3 types of verification that must be completed, including:
- E-mail verification
- Phone verification
- Identity verification
If you want to learn more about how to verify your FIBO Group account, please follow the guide below.
Documents Required for Verification
During the verification process, you will also be asked to provide copies of several documents containing personal information, such as name, nationality, and residential address. At the FIBO Group broker, there are two types of documents that you need to prepare for a smooth verification process, including:
- Proof of Identity: ID Card, Passport, Driving License, Military ID Card, and so on.
- Proof of Residence: Utility bill, Rent agreement, Bank account, or bank card statement.
To make your documents can be easily verified, it is important to pay attention to the following things:
- All the sensitive details (full name, photo, document number, date of birth, place, and date of issue) must be readable.
- Expired documents are not accepted.
- Documents issued in the name of a 3rd party including relatives and spouses are not accepted.
- A document shall be signed and stamped by the issuing authority (bar code or QR code is sufficient for a utility bill).
- There shall not be more than 3 months since the date the document was issued/generated.
International Financial Holding, officially known as FIBOGroup (Financial Intermarket Brokerage Online Group), is a brokerage company offering online trading services since 1998. With the mission to always meet the highest international standards, FIBO is currently regulated by the Financial Services Commission of the British Virgin Islands and the Cyprus Securities and Exchange Commission (CySEC).
The company is very "generous" in offering different types of trading accounts. Aside from Cent Account and MT5 NDD, the minimum deposit in FIBOgroup's accounts starts from $50. It is important to note that MT5 NDD requires a minimum deposit of $1000. Trading in FIBOGroup enables traders to enjoy variable spreads, although the MT4 Fixed account offers fixed spreads from 2 pips.
Meanwhile, the average maximum leverage in FIBOGroup is 1:400. Only two types of accounts have different standards of the highest leverage; 1:1000 in Cent Account and 1:200 in MT4 Fixed.
FIBOGroup provides a comprehensive market analysis comprised of contents on long-term forecasts, economic calendar, interest rates, financial instruments, and Shares.
The company also houses a proprietary PAMM feature that allows professional traders to become Account Managers with a profit-sharing system. New traders who open accounts in FIBO can benefit from PAMM by following an Account Manager that they choose by their preferences. For this particular feature, FIBOGroup provides a special feature of the Manager rating table.
Since its invention in the late 1990s, FIBOGroup has reached global recognition. They have official branches in Vienna, Limassol, Munich, Shanghai, Kyiv, Limassol, and Almaty. Deposit and withdrawal options range from wire transfer, credit card, BitPay, Blockchain, Neteller, Skrill, Perfect Money, FasaPay, and many others.
In conclusion, FIBO Group is an experienced broker for adventurous traders who like to try out various trading conditions; from variable spreads to fixed spreads, from MT4 to cTrader, from low leverage to high leverage, from independent trading to PAMM trading. Their low deposit requirement also indicates that it is open to all kinds of traders regardless of their amount of capital.
Steps to Verify Account in FIBO Group
Verifying your account in FIBO Group is a crucial step to accessing all their services and features. It involves confirming your email address, phone number, and providing proof of identity. Here's a step-by-step guide on how to verify your account in the FIBO Group.
Email Verification
Email verification is the first step in verifying your FIBO Group account. This involves confirming ownership of the email address you provided during registration. The following is a detailed explanation of the process:
- Registration and Email Notification: After completing the registration process on the FIBO Group site, you will receive a message at the email address used for registration. The email looks like this or a subject similar to "Verify your FIBO Group account" or "Activate your FIBO Group account". Please open your email. If you don't receive a verification email, check your spam or junk folder. If the verification link is expired or invalid, contact FIBO Group customer support for assistance.
- Clicking on the Verification Link: Inside the email, you will find a verification link. This link is unique to your account and serves as a way for FIBO Group to confirm that you have access to the email address you provided. The display is as follows:
- Clicking on the verification link will redirect you to the FIBO Group website. If verification is successful, you will see a confirmation message that your email address has been verified.
Phone Number Verification
You will also be asked to verify your telephone number. To do that, please follow the steps below.
SMS Verification
- Log in to your FIBO Group account.
- Navigate to the "Profile" or "Settings" section.
- Provide your valid phone number and click the "Send Code" button.
- You'll receive an SMS with a verification code.
- Enter the verification code in the designated field and click "Verify".
Telegram Verification
- Click the following link.
- Tap the 'Restart bot' button in the bottom part of the screen.
- Select your language.
- Choose your time zone.
- Click "Verify" in the bot's main menu.
- Tap "Share contacts".
- Your phone number is confirmed.
3. Proof of Identity Verification
Proof of identity verification is the final step in fully verifying a FIBO Group account. This involves submitting clear copies of government-issued documents to confirm your identity and residency. The following is a detailed explanation of the process.
- Login to the FIBO Group Client Area.
- Select the "My Documents" menu on the left.
- Click "Add files".
- Upload your documents with Proof of Identity (ID Card, Passport, Driving License, Military ID Card, and so on) and Proof of Residence (Utility bill, Rent agreement, Bank account, or bank card statement).
- FIBO Group will review the documents you submit to verify your identity and residence. This process may take several days or longer depending on shipping volume. You may receive an email notification after your document has been reviewed.
Why Do You Need to Verify Your Account?
After successful verification, you will receive a notification from FIBO Group confirming that your account has been fully verified. There are several benefits to verifying your FIBO Group account, including:
- Enhanced security: When you verify your account, you provide additional information to FIBO Group that can be used to identify you and protect your account from unauthorized access. This includes providing a copy of your government-issued ID and a recent utility bill.
- Access to all features and services: A verified account gives you access to all the features and services FIBO Group offers, including:
- Open live and demo accounts.
- Use bank transfers and cards to make a deposit.
- Invest in Managed accounts (PAMM).
- Open Managed Accounts (PAMM).
- Withdraw profits from trading and investment accounts.
- Sign up as an IB partner or PAMM agent of FIBO Group.
In addition, verifying your account can also show the FIBO Group broker that you are a serious trader. This can help you build a positive relationship with the broker and may even lead to better trading conditions in the future.
FIBO Group is a well-regulated and experienced forex and CFD broker offering a wide range of trading instruments and platforms. They are a good choice for both beginners and experienced traders. The platform is available as a desktop application, web platform, and mobile app. FIBO Group also offers a variety of educational resources, including webinars, tutorials, and a glossary of terms.