Forex brokerage Fibo Group has added yet another option to its extensive offerings: its clients can now choose gold (GLD) as a base currency for their MT4 accounts.
GLD account holders can use all services available for the accounts in standard currencies (demo accounts are also available). The only difference is that all account parameters including balance and profit are calculated in gold.
The deposit currency against GLD is equal to one thousandth of the current quotes of the spot rate XAU/USD. Accordingly, we have calculated that the counter value in USD is 0.031 gram of pure gold.
Gold is referred to as a safe haven currency and one of the most stable actives. “With a deposit in gold you get better protection from drastic changes in the exchange rate than with a deposit in some currency,” Fibo Group commented, and adding it to its base currency offering increases safety from negative factors of economic or political instability.
Indeed, gold is gaining popularity lately, as markets tend to be volatile. Earlier this month Cypriot broker FXTM launched a new service, allowing clients to trade in physical gold and get the monetary value directly in their accounts.
Fibo Group Ltd. was incorporated in the British Virgin Islands (BVI) and holds a license by the Financial Services Commission (FSC) of the BVI. The broker is part of the International Financial Holding FIBO Group (Financial Intermarket Brokerage Online Group), one of the oldest players in online trading with margin. The first company of the holding was founded in 1998 and today it maintains offices in Europe, Asia and America. It also has a subsidiary, licensed in Cyprus.