Fiboda is a powerful social trading platform that has thousands of professional traders from all across the globe whose trading strategies you can follow. It enables users to invest in other trader strategies with relative ease so that they can copy signals using the innovative technologies implemented within the Fiboda copy trading platform. In this Fiboda Review, we will take a look at exactly what it can do along with some of the key features. This can then help you decide whether Fiboda is a copy trade solution that will fit within your individual investment goals.
What is Fiboda?
As mentioned in the intro, Fiboda is a copy trading platform where you can research, review and copy signals from other traders around the world. It is a relatively new solution when talking about social trading platforms. This is an industry that has been around for quite a while now, with some of the leaders when it comes to copy trading being AvaTrade, eToro and ZuluTrade.
Fiboda has a wide range of trading instruments to choose from. Whether you CopyTrade or trade manually, they support the trading of Currency Pairs, Stocks, Cryptos, Commodities, Metals, Energies and more. If you are an advanced investor and prefer manual trading, you are always able to customize your settings or trade with a variety of advanced tools.
How does Fiboda work?
Fiboda is simple and easy to use. Whatever your previous trading experience is, it doesn’t matter. This social trading platform can be used by traders of all experience levels.
The process to get started is as follows:
- Join Fiboda: Sign up and connect your trading broker account.
- Choose traders combo or find a trader: Select combo or traders based on their performance.
- Follow strategies: Use Fiboda latest features to follow traders.
How to choose a Fiboda trader?
With so many traders to follow and copy trades from on the Fiboda platform, it is important to research and choose a trader suitable for your own trading goals.
You can search for traders to copy signals from on Fiboda using a variety of key filters. They have a sortable list of traders with statistics that can be analysed according to your own personal preferences.
Some of the key Fiboda filters for traders on their platform include the following:
Strategies that have positive momentum and move near ATHs (All Time Highs)
TRADING STRATEGIES UNDER $1000 (6-MONTHS)
Traders that have up to $1000 minimum amount for 1:100 leverage
TRADING STRATEGIES UNDER $2000 (6-MONTHS)
Traders that have up to $2000 minimum amount for 1:100 leverage
MULTIPLE INSTRUMENTS STRATEGIES
Strategies that trade multiple market instruments, e.g. Forex, Indices, Stocks, Cryptos, etc
HIGHLY ACTIVE TRADING SYSTEMS
Trading systems that have more than 100 average trades per month
POSITION SIZING SPECIALISTS
Strategies that use variable position size efficiently and Pro-Rata mode is mandatory
HIGHEST AUM – AMOUNT FOLLOWING
Strategies that have the highest number of total Investors’ funds invested
Traders that have invested significant own funds
EQUITIES AND INDICES EXPERTS
Traders who are specialized in stocks and indices
What are Fiboda Combos?
The choice of traders available on Fiboda may seem overwhelming at first. If that is the case, there are “Fiboda Combos” which are basically a combination of traders that you can follow at once. Kind of similar to a stock index that combines multiple stocks from a particular sector into a basket known as indices. You simply select the Combo+ that you want to follow and they will do the rest.
Win-Win & transparent
You only pay traders for any generated profits
Simple & Stress-free
The portfolio team can manage and rebalance the portfolio on your behalf
Professionally Managed & Licensed
There is a Certified Portfolio Management Team on hand to assist
Fiboda Mobile App
The Fiboda Mobile Application enables you to access the markets and manage your copy-trading account at anytime, from anywhere without needing to monitor the markets 24-hours a day. You just need an internet connection and compatible Android or iOS device.
With so many social trading platforms to choose from, one may be asking what makes Fiboda different and why should I use them instead of another more established copy trading platform? Here we will take a brief look at some of the key Fiboda features to help give you an idea of what this copy trading platform can offer in order to help you weigh it up against some of the other options out there.
Fiboda take transparency very seriously. All performance data is shared openly with everyone whilst there are no hidden fees.
The in-house team constantly analyses user needs, to provide new features and optimise the trading experience, always attempting to think outside of the box.
The Fiboda customer support team are eager to help and can be reached 24/5 via chat, phone or email.
Learn via Copy Trading
Traders explain their strategy and answer investors’ questions – valuable introduction for beginners that want to learn from other traders with validated track records.
The Fiboda social tools enable you to interact with Traders and fellow Investors, ask, learn and share ideas.
Unique Advanced Features
Discover back test, automate monitoring and actions with Automator and apply advanced Copy Settings. Fiboda enable advanced users to get control and apply their ideas.
Fiboda Education Center
There is an education section on the Fiboda website where you will find plenty of videos and tutorials that help explain the Fiboda platform and how to use it. The educational resources are easy to digest and navigate, with tutorials for beginner and advanced traders alike.
After spending a while browsing around the content you should have an even greater idea of how Fiboda works and whether it is something you would like to start using for copy trading.
Forex Traders Lists
The Fiboda User Lists allow you to organize traders into categories, group and tag them by performance, share your lists and select the strategies that suit your needs. You can see lists of other users for ideas and inspiration.
There is a useful forex calendar on the Fiboda website which shows the time and dates of important up and coming news releases. This can be a great way to keep track of the latest market happening and as part of fundamental market analysis.
Fiboda also have a selection of handy trading tools that are free to use and can help with day to day trading activities. This includes market research tools including currency converter, pip value calculator, margin calculator and profit / loss calculator.
The Fiboda Automator lets you setup automated trading with your own rules and can be your personal assistant. It can watch and notify you when things happen or automatically execute any action you would otherwise do yourself.
You can create and execute your own automated rules, using an if this then that logic, and essentially create their own settings, by building your own automated rules!
Creating a rule is simple, just give your rule a title, a short description and set the conditions & actions for your rule. Once the rule is activated, you will receive an account notification, as well as a relevant email.
You can set rules to lock your profit, to update Stop/Limit for selected trades, to close profitable trades or to simply notify you.
You can find the Automator and build your rules at the Settings tab of any Live or Demo account, you will find the Automator option to create your own rules.
FibodaGuard is an account protection feature that monitors each Trader’s behaviour and automatically removes a Trader when detecting a trading strategy has deviated from its expected loss profile.
The FibodaGuard automatically calculates a trading exit value for the trades opened in your account based on your specified capital protection amount. When your threshold is hit, FibodaGuard will step in, it will close all open positions and disable the Trader instantly.
FibodaGuard Capital Protection is available for all Investors and it is mandatory for the European and U.S. versions of the Fiboda service as it creates a protection shield for your investment capital.
Fiboda is a simple and easy to use social trading platform that offers a copy trading solution to traders across the globe and of all different experience levels. Fiboda implements some useful features such as the trader combos, search filter, Fiboda Automator and FiboGuard.
It is very important to keep in mind that Fiboda do not recommend or make any implications about the future performance of any of the systems, traders, signals or anything else when using their platform. You should be well aware of all the significant risks involved with trading online and never risk more than you can afford to lose.