FBS Review
FBS REVIEW
FBS is a leading international broker that has served clients since 2009. The company excels through numerous prestigious awards and cutting-edge technologies in the Forex Market. At the very beginning, FBS Broker was established in Belize only, but recently they became Cyprus Broker as well which helped them expand their services to European traders for both newbie and professional traders alike.
Regulated by European legislation which brought greater capabilities with useful tools and fully authorized trading service gave FBS Broker the opportunity to develop, even better than before so be sure to check out our full review of this intriguing broker and see if it can compete with other brokers you may know of!
FBS Pros and Cons
FBS Broker operates for many years and provides a stable trading environment. There are good trading conditions including fbs copy trade on MetaTrader4 and 5, spreads considered low based on our research also the education section is wide.
On the negative side, there are limited instruments to Forex or CFDs; this means that the terms of each entity vary in their own ways. We recommend signing up with a European entity for better transparency (though this is not possible to say if it will be enough).
10 Points Summary
Headquarters
Cyprus, Belize ad the Marshall Islands
Regulation and License
CySEC, IFSC, ASIC, FSCA
Platforms
MT4, MT5, FBS trader
Customer Support
24/5
EUR/USD Spread
0.9 pips
Demo Account
Unlimited basis
Minimum deposit
We charge 1 USD for Global and 10 EUR for European customers.
Base currencies
Several currencies available
Education
We offer Forex education, which includes webinars, videos and forex TV.
Instruments
Forex, CFDs on Indices, Metals and Energies
Awards
FBS Forex has been recognized with over 60 international awards that acknowledge their status as a Transparent Broker and Best Customer Service Provider. They are one of the most highly-regarded brands in the world.
Is FBS safe or a scam
FBS Broker is not a scam. FBS is Tradestone Limited, which is an EU and MiFID registered company located in Cyprus. They also have entities located in Marshall Islands and Belize but this does not really prove their reliability status.
How are you protected?
Using a regulated broker is important, as they abide by strict standards. FBS has obtained a license and abides by the MiFID directive for money protection, which means that your funds cannot be used in any other way than what you’ve originally intended.
This greatly enhances the safety of using their services. In addition, because Cyprus Investment Firm FBS falls under the Compensation Scheme, which protects clients’ investments in case of insolvency–your investment is protected from bankruptcy risk if anything were to happen to them!
Leverage
FBS obtains compliance with the MiFID directive, which is a big advantage for clients who want to trade. FBS keeps traders’ funds in segregated accounts and they are unreachable by any other company’s use, as well as ensures the safety of traders’ investments.
In addition, because it is an Investment Firm based in Cyprus that falls under the Compensation Scheme (protecting investments if the broker goes insolvent), it has yet another edge over many other brokers around Europe.
Account Types
As an account holder, you can choose between the Standard, Crypto, and fbs Cent accounts. The latter is perfect for beginners because it has lower requirements and risks involved – note though that FBS operates through two entries: EU one and International. Likewise, international traders are offered 6 different types of trading accounts with very high leverage in forex up to 1:3000 (deposit bonus included), cashback programs as well as much more.
You will be able to find both demos (very recommended for beginners) AND live trading accounts on FBS, where whatever type of trader profile suits these needs better will work depending on what their preference may be; whether they would like to test out FBS’ Forex environment via a Demo Account first before proceeding into Live Trading Accounts.
No matter what level our experience as we know beforehand about the potential risk involved when starting off or continuing onto margin day trading FBS forex markets.
How to open an account?
The process to open an account with FBS is not hard, as you will be guided through a series of simple steps. The following are:
1) Enter the parameters for your account including name, email address, and phone number.
2) You will receive confirmation links on your email follow-through the process.
3) Upon receiving access to your online account management you may start Demo Account at this stage.
4) Define the type of trading experience and expectations with their questioner.
5) Upload proof of address, identity, or other documents (as per regulatory requirements).
6 ) Click Submit by clicking submit every few working days for verification processes, then deposit money into it.
7) Decide whether you want FX products –online FBS forex trading in particular- stocks or others and start trade.
Fees
FBS pricing is typically built in the spread, which means you will be paying a certain percentage of your order’s cost for every order you take. Do note that there may also be overnight fees and withdrawal fees if applicable. The table below shows their fee comparison table to help illustrate this point better:
| Fees | FBS Fees |
|---|---|
|
EUR USD Spread |
0.9 pips |
|
Crude Oil WTI Spread |
4 pips |
|
Gold Spread |
15 |
|
BTC USD Spread |
30 |
Spreads
Some features of the account are dependent on the type of account. For example, if you have a standard spread in forex starting from 1 pip and cent account with 3 pips respectively, then typical spreads for EUR USD pair is 0.9 pips in Standard Account and 3 in Cent Accounts respectively.
International offerings also differ depending upon whether raw prices or ECN are used for trading; thus unique contract specifications may differ as well amongst brokers such as fixed price per lot fee (FBS) vs FP Markets commission charge per transaction lot, which might be different to depending upon your needs!
Overnight fee
Another thing to keep in mind when performing swing trading strategies is that you should always count on the FBS overnight fee or swap. This may be a percentage, fixed amount, or other arrangement depending on each instrument’s ratio and how long your positions take to close out. You might see this information as an example above or find it directly from the fbs platform.
Trading Instruments
FBS is a trading service that offers transparent conditions for trading by the use of popular instruments including Forex, Metals, and all related to it. It also invests in technology to make your trading experience smooth and convenient with its powerful execution.
However, there are only around 40 currency pairs (including exotic ones) offered on FBS as well as 6 Indices based on CFD Trading, along with Metals and Energies- if you prefer Stocks or Futures trades then it may be better if you consider other brokers too.
Payment Methods
To transfer from a demo account to live to trade, you need to deposit money. FBS offers an impressive range of payment systems, including over 100 different options for international transactions. However, transfers might not be applicable in all cases since the EU regulators demand strict policies regarding certain currencies or countries that are under sanctions.
The minimum deposit for FBS
The minimum deposit for a Cent account is $10, which may be perfect for beginners. Standard Account, on the other hand, requires only 100$ at first and this option would fit more experienced traders too. If you are looking forward to trading with Crypto accounts then the minimum deposit stands at $1.
| FBS | |
|---|---|
|
Minimum Deposit |
$10
|
How quickly can I withdraw money from FBS?
The FBS trading Broker range provides good withdrawal options and free withdrawals. Always make sure to check with your payment provider first in case there are any fees waived, as it depends on your country of origin.
Withdrawing money isn’t complicated because you need to enter into the management area for trading accounts and submit a withdrawal request. Typically FBS processes deposits within 1-2 business days, but allow extra processing time for your payment provider if necessary:
FBS Trading Platform
As the majority of STP, technology-based, and best forex brokers, FBS is a mainstay at the high industry and provides a powerful platform to execute orders through their market leader – MetaTrader4. They also offer newer versions like MetaTrader5 and proprietary FBS Trader.
Web Trading
FBS is very comfortable because you don’t need to download or install any software. All you have to do is login through the Web browser and start trading! But usually, fbs web trader tools are fewer in number and only a simplified version of the platform.
Look and Feel
MetaTrader is widely recognized as the premier charting platform for traders worldwide, and it’s not hard to see why. Simple navigation, easy-to-understand features, and handy tools make MetaTrader usable by both beginners and experienced traders alike.
Fbs MT4 also offers a wealth of advanced customization options and auto trading capabilities (available on PC or Mac). This makes it available anytime anywhere you are with your Android phone or iOS device.
Desktop Platform
FBS Metatrader 4 is also available as a desktop platform, which is more suitable for active traders and professionals due to its comprehensive add-ons and options. Moreover, in case you will be trading with the international entity of FBS, you’ll have an opportunity to use an upgraded version of FBS MetaTrader 5. This platform stands out, even more, thanks to its capabilities, progressive features, and vast opportunities for trading.
Mobile Trading Platform
As any other FBS trading platform, FBS Trader has a mobile app that allows you to trade from anywhere. In addition, CopyTrade App is a social trading platform where professionals and strategies can be followed by beginners and investors alike.
Trading indicators
In addition to the functions found in the FBS MT4, you can enjoy daily technical and fundamental analysis data that is streamed into the news section. Together with over 50 technical indicators, one-click trading, the possibility to create and use EAs with no limitations, and even trade on VPS service support.
Moreover, if you are trading through an international entity of FBS then MetaTrader5 may be offered – a platform that stands out more for its capabilities universally as well as progressive features that provide vast opportunities for trading.
Customer Support
Another positive point about FBS is its customer support. The broker has put its focus on good guidance and support for novice traders, which means you can find the FBS Customer Support available 24/7 either through live chat, international phone lines or email.
Definitely-FBS offers a high standard of quality customer service always taking care of your concerns and questions throughout your trading process with them. They have also considered more client-oriented in comparison to other brokers out there.
Education
There are various educational materials and programs organized by FBS also that are designed to enhance trading capabilities and of course recognizing the importance of good knowledge in fbs markets trading.
This is especially true for beginning traders, as firstly you should understand the industry well, practice strategy through Demo Account which is available on an unlimited basis then follows with Live Trading.
At The FBS Learning Centre you will find a range of Webinars, Forex Guidebooks numerous Tips for Traders Video Lessons. In summary: education at FBS is quite sustainable and well organized; it also has other tools including research & analysis very important at any step output level in one’s trading career.
Research
Apart from the research tools that MetaTrader is packed with you may access additional information that FBS provides to support its traders. You can find a very well-designed Forex Calculator right on their website, Economic Calendar to track news and a currency converter for easy calculations. In addition, FBS provides in-house designed Daily Market Analysis and runs Forex TV where all the latest news is updated daily.
Conclusion
There are many educational materials and programs organized by FBS that are designed to enhance trading capabilities, while also understanding the importance of good knowledge in markets. For beginners, it is especially important that you first understand the industry well before practicing strategy through Demo Account which is available on an unlimited basis and then moving on to Live Trading.
The spreads on some of the most popular trading instruments like EUR/USD were very good in our FBS testing. It is difficult to successfully day trade such markets because they are very wide. The MetaTrader platform is extremely versatile and it has a lot to offer beginners. However, it is more complicated than others and maybe challenging for newcomers.
There are live webinars for beginners to learn from, and courses on the popular MetaTrader platform. The FBS suite of tools provides a good range of tools. Web and desktop platforms could be added to the mix to make even better use of the suite.
