Offshore forex broker Fibo Group has launched a new trading account with gold (GLD) as base currency. The new option is available for MT4 NDD and MT4 Cent accounts.
All account parameters of the newly-added account, including balance and profit, are calculated in gold. Gold account provide the same services as any other accounts in standard currencies available with the broker.
Traders can open either live or demo gold accounts. The deposit currency against GLD is equal to one thousandth of the current quotes of the spot rate XAU/USD. As a result we have calculated that the counter value in USD is 0.031 gram of pure gold.
“With a deposit in gold you get better protection from drastic changes in the exchange rate than with a deposit in some currency,” the broker said, adding that the metal is one of the most stable actives, which increases safety from negative factors of economic or political instability.
Indeed, gold is gaining momentum. Earlier this month another forex broker, ForexTime (FXTM), launched a new service, allowing clients to trade with and store physical gold and get the monetary value directly in their trading account.
In addition to MT4 NDD and MT4 Cent accounts, Fibo Group also offers cTrader NDD and MT5 NDD trading accounts. Cent accounts are available since September last year.
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.