FUBO Information
FUBO, known as GD FUBO, is an international integrated financial services group with fintech at its core and registered locally in Seychelles.
FUBO says its principle is trader first, offers a comprehensive and diverse range of trading products, including Forex, precious metals, commodities, index stocks, virtual currencies, etc., 0 minimum deposit and no commission, which is attractive to traders. However, it is more important to note that the broker is not regulated, and its claims of capital security may not be true.
Pros and Cons
Is FUBO Legit？
The full name of FUBO is GD FUBO, which belongs to the brand of Golden Point International Group, but it has not been found that FUBO is regulated. As a result, it is unregulated, making FUBO's claims about the security of its funds questionable.
What Can I Trade on FUBO？
FUBO says it has a rich and colorful lineup of trading products, with more than 200 assets available for trading to keep your portfolio colorful. Get involved in more than 20 currency pairs and explore the currency relationships between different economies.
In addition, FUBO also offers 2 commodity trading, enabling investment in precious metals and crude oil. If you are interested in index products, FUBO has 10 different index products to keep you on the pulse of the market. FUBO's trading products are not limited to this, but also include stocks and cryptocurrencies, with 6 CFDs and 2 cryptocurrencies for you to choose from.
Account Types
FUBO offers 3 types of accounts: Standard accounts, Islamic accounts and Demo account.
The standard account has no commission requirements and a minimum deposit of $0, making it more suitable for novice traders. In addition, it also supports mobile, web and computer trading. You can also experience EA trading and community documentary trading with a standard account.
Islamic accounts take into account religious practices and provide Muslim residents with an interest-free and overnight fee free trading environment, ensuring that trading activities comply with the requirements of Sharia law.
FUBO Fees
The product spread provided by FUBO has a certain competitiveness, and the spread range is relatively large.
FOBO Spreads
The lowest spreads of the trading products offered by FUBO range from 1.8 to 2.5 for the main forex pairs, 3.8 to 4.5 for precious metals and crude oil, the index stays between 1.5 and 8.0, and 4.0 to 25.0 for cryptocurrencies.
Trading Platforms
Deposit and Withdrawal
FUBO does not disclose the deposit and withdrawal information, but the minimum deposit requirement is $0, which greatly reduces the transaction cost.
Customer Service
FUBO supports 24-hour online service, and customer support is available by phone, email, and physical address.
The Bottom Line
FUBO is friendly to traders who want to avoid swap fees because it offers Islamic accounts. In addition, it also supports EA trading strategies and copy trading, reducing trading costs for traders.
But when it comes to safety. The broker is not regulated and traders need to exercise caution.
FAQs
Is FUBO good for beginners？
No, not really for beginners. FUBO's Trading platforms, MT4 and Brokeree Copy Trading System are suitable for novice traders with a minimum deposit threshold of 0 and zero commission. These conditions are suitable for beginners. The problem, however, is that FUBO's unregulated status makes it difficult to guarantee that novice traders are not at risk.
Is FUBO good for day trading？
No, it is not recommended to choose FUBO for day trading. Day trading is a high-risk investment strategy because FUBO is currently unregulated and potentially risky.
Is it safe to trade with FUBO？
No, it's not safe. FUBO is not regulated by any major financial regulator, which is a big red flag that regulation is key to ensuring the safety of traders' funds and obtaining fair trading conditions.
