FBS Review

FBS is a Forex and CFD broker found in 2009 in Belize. It operates in other countries as well as China, Malaysia, Indonesia, Philippines, Vietnam, Jordan and Russia. It trades with CFDs, stocks, metals and currency pairs.
Elen Palmer
October 29, 2019

FBS Review: Broker, Forex, Tranding

The website offers a wide offers support in 18 languages. There are 12 million traders from 190 countries trading on FBS. The website claims of 7,000 traders joining its platform daily. FBS is a hybrid broker model of Straight through processing (STP) and Electronic communications networks (ECN). FBS does not have a dealing desk. Its orders are passed directly to liquidity system providers at actual market price, so requotes are impossible.

FBS is liked by most traders because of minimum deposit to open an account. It acts as a platform for traders of all levels, e.g., beginner, elementary, intermediary, experts and pros. The broker is not publicly traded. It offers a high leverage of 1:3000 maximum. It's easy to work with, and getting access to the funds is also simple, bringing ease to the traders. Funds can be deposited or withdrawn through credit card, Neteller, Perfect Money, Skrill and Wire Transfer. Its fee on depositing the funds or on withdrawing is reasonable, pretty much a negligible amount. Its tradeable assets are stocks and currency. It offers its users with user-friendly MT4 and MT5 platforms. FBS takes no commission on trades, and it has fixed spreads. It does not have a trading desk and trades through ECP and STP. It offers great compatibility with windows and desktop platform, along with web platform. It also offers mobile trading through FBS application available for Android and iOS users. The application has great design and offers an MT4 and MT5 platform for traders, which makes trading easier and friendly for them. The application is designed by MetaQuotes Software; a Russian company that makes software for forex trading.

Investor Protection and Regulations

FBS is regulated by CySEC in Cyprus and IFSC in Belize. It offers safety to the investors by account segregation and by website encryption using SSL. FBS Inc. was registered at Marshal Islands with a registration number 74825.fbs.com. FBS Inc. is operated by FBS Markets Inc., which was registered in Belize with a registration number 119771. FBS Markets Inc. is regulated and authorized by International Financial Service Commission (IFSC) in Belize whose registration number is IFSC/60/230/TS/18

FBS.EU controls European arm of the broker. It's operated by Trade Stone Ltd., which is a Cyproit investment firm in Limassol, Cyprus. Authorized by Cyprus Security and Exchange Commission (CySEC), which is registered under the registration number 331/17.

FBS keeps trader's funds separate from its account, as its regulatory directives. Even when the company is at loss or going bankrupt, it does not use the trader's money in those situations and keep their money safe. International Compensation Fund (ICF) protects EU retail clients by paying up to 20000 pounds on Broker's insolvency.

The FBS protect its users by encrypting its official website with standard digital security practice. With a Secured Socket Layer (SSL) FBS protects its platform from fraudulent individuals. SSL is made by Rapid SSL.

Tradable Products

FBS can trade with up to 37 currency pairs, 4 metals, 3CFDs and 32 stocks.

Account Opening

FBS offers 5 types of accounts to its clients, which are Cent, Micro, Standard, Zero spread and ECN. The minimum amount of capital required to open an account is $1, $5, $100, $500, and $1000 respectively. FBS EU users cannot open from the multiple account types given, so the type of account for FBS EU users is the Standard account. For international clients, 6 account types are offered to meet the vast category of traders.

Cent: The account is for tyro traders who are live with their trading. The minimum amount to open this account is $1 with maximum leverage up to 1:1000. The spread starts from 1 pip.

Micro: This account is for traders who want the exact amount of the profit calculated. The account opening fee is $5. It has fixed spread starting from 3 pips. It offers maximum leverage of up to 1:3000.

Standard account: The amount required to open a standard account is $100. It offers the maximum leverage of up to 1:3000. The spreads start from 0.5 pips.

For EU clients the opening is 100 pounds, and their spreads start from 1 pip. The maximum leverage they are offered is 1:30.

Zero Spread account: The account is for traders who want to trade in a fast manner without any spread charges. But to avoid spreads, they have to pay a commission of $20/lot. The leverage offered in this account is 1:3000. The initial deposit to activate the account is $500.

ECN account: The account is made for traders who want to experience latest and advanced ECN technologies. The spreads in this account starts from 1 pip and the maximum leverage offered is 1:500. The fee for opening the account is $1000.

Demo account: A demo account can be opened for any account type. It provides a risk-free environment for beginner traders to learn the trading skills and grow with their trading. The account has virtual funds of up to one million dollars for its traders.
Pros and Cons of FBS
Pros of FBS:

  • Regulated by Cyprus Security and Exchange Commission (CySEC) and the International Financial Service Commission (IFSC)
  • Offers investor compensation in case of fraud
  • Trader's education to get them to trade like a pro
  • Research tools to enable traders of a wise decision
  • Low capital requirements e.g. as low as $1 for account opening
  • A large range of deposit methods are supported
  • Supports copy-trading for novice traders
Cons of FBS:

  • Higher spreads than many retail brokers
  • Global brand regulation is not as strong as European union brand
  • Leverage offered on global brand is too high – careful risk management is a must
  • Limited range of instruments offered
  • In case of a market gap, profits can be limited to 300 pips
  • No scalping
  • On crypto CFDs spreads are large
  • High leverages than other brokers can lead a trader to great loss if not profit

IQ option is another broker offering the traders a trading platform with a wide range of financial assets, including stocks, forex pairs, cryptocurrencies, commodities, binary options,and ETFs.

ETFs. For new users, it's a great platform because of the ease, simplicity and user-friendliness it offers. A $10 is the initial fee paid to open the account, which is far less than other brokers. It offers more than 350 assets to trade with, providing traders a wide variety. It also provides its users with a demo account with $10,000 in virtual money. It provides 24-hour withdrawal processing. These specifications make it the best fit for the first-time users.

FXPro is a Forex broker, which trades with currencies, indices, and shares. It also deals with cryptocurrencies, for example, Bitcoin. It also trades in CFD cryptocurrencies, which makes it unique among other brokers. The trade output of the trader depends on the instrument types offered on the platform and the skills of the trader. FXPro is not regulated by ASIC, which means it's not that safe, and the trader needs his experience and skills solely to prevent losing money.

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