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Offshore forex broker Fibo Group it has has increased the available maximum leverage size to 1,000:1. The offer applies for holders of cent accounts on the MetaTrader 4 (MT4) trading platform. Prior to that, the leverage for this type of account was set at a maximum 500:1.
The new conditions automatically apply for traders who open a new cent account, while investors who already operate such an account need to send a request their Personal Cabinet to increase leverage to its new size.
Fibo Group noted that leverage for opened positions could be temporary reduced to the previous levels of 500:1 in case of periods of high volatility.
A leverage of 1,000:1 is considered high, even for cent accounts. It is not the highest available on the market, though. FBS and FxGlory offer leverage of up to 3,000:1, and recently ForexMart hiked its leverage to a maximum 5,000:1. A single broker, Exness, became the only one to offer unlimited leverage after it launched the service earlier this year.
Fibo Group launched Cent accounts in September this year for bringing trading in forex and contracts for difference (CFDs) on precious metals (XAG/USD and XAU/USD) to a wider range of public. It requires a deposit of a minimum ¢0 and presents much lower risk, which makes it ideal for beginner traders or investors who seek to try out new strategies.Cent accounts, aka micro accounts, are handled the same way as any other account type with the exception that all their financial parameters, including deposits, profits and losses, are measured in cents.
In addition, Fibo Group offers several other types of trading accounts for forex, spot metals, and CFDs – MT4 Fixed Spread, MT4 Floating Spread, MT4 NDD, MT5 NDD, and cTrader NDD. It also provides PAMM accounts (for copy trading) and Islamic accounts (swap-free).
Fibo Group Ltd. was incorporated in the British Virgin Islands (BVI) and holds a license by the Financial Services Commission (FSC) of the BVI. It is part of International Financial Holding FIBO Group, which also includes Fibo Group Holdings, an entityregistered with and regulated by the Cyprus Securities and Exchange Commission (CySEC).
The broker operates through offices in Austria’s Vienna, Cyprus’ Limassol, Germany’s Munich, Russia’s Moscow, China’s Shanghai, and in Singapore.