FBS Review 2024

Trust

FBS Regulators

• FBS Markets Inc. is regulated by the Financial Services Commission (FSC) of Belize under license number 000102/460. We rate FSC as a Tier 3 regulator.
• Tradestone Ltd. is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 331/17. We rate CySEC as a Tier 1 regulator.
• Intelligent Financial Markets Pty Ltd. is regulated by the Australian Securities and Investment Commission (ASIC) under ABN: 48 155 185 014. We rate ASIC as a Tier 1 regulator.

Why is It Important to Know Where Your Broker Subsidiary (Entity) is Regulated?

To serve clients worldwide, brokers must have multiple regional entities. The level of client protection guaranteed by regional regulators varies widely. Here are some of the key features to check on at your broker`s regional entity:

• Segregation of client funds. Segregating client funds from the operating capital of a broker prevents misuse, ensuring that traders’ funds can not be used for operational expenses or speculative investments. At FBS, all client funds are held in segregated accounts away from the company’s funds.
• Negative balance protection. This is a guarantee that clients cannot lose more than their account balance, even if the market unexpectedly makes a massive move or gaps. At FBS, all clients benefit from negative balance protection.
• Compensation scheme. A compensation scheme protects client funds in the unlikely event that the broker becomes insolvent. Only clients of the European entity (Tradestone Ltd.) benefit from a compensation scheme of up to €20,000.
• Maximum leverage. Limiting leverage controls the level of risk traders can take on. The higher the leverage, the higher the potential profits and losses. The maximum leverage at the FBS Markets Inc. entity is 1:3000.

Stability and Transparency

In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focus on the brokers’ business longevity, the company’s size, and their transparency regarding readily available information. brokers’ business longevity, the company’s size, and their transparency regarding readily available information.

Founded in 2009, FBS has a substantial operating history and a client base numbering in the millions, according to its website. The company’s LinkedIn page lists the number of employees as 201-500, reflecting a mid-sized brokerage firm.

From looking at the FBS website (fbs.com) and social media presence, I judged that this broker has an adequate level of transparency relating to its fees, regulatory status, and the overall background of the company. Information and materials were clearly laid out and easy to find.

The company’s regulatory status can be viewed in the footer of the website. All the information relating to fees can be found in the Client Agreement/Terms and Conditions on the Documents page.

Is FBS Safe to Trade With?

To summarize, I rate FBS as relatively trustworthy and stable due to the following:

• Regulated by two top-tier agencies
• 15-year operating history
• All entities segregate funds
• All entities provide negative balance protection
• Transparent in essential areas like fees

Fees

FBS Trading Fees

I tested the spreads at FBS across various markets during the London open and after the New York open on 2 August 2024. At these times, the market is typically highly liquid with the tightest spreads.

FBS’s spreads are the most competitive in major forex pairs and commodities like gold. In my tests, the spreads in CFDs on indices were rather wide.

FBS Swap Fees

The table below shows an example of the swap fees at FBS. Swaps represent the fees charged (or credit earned) for holding a position overnight.

The values listed below are for one full contract (100,000 units) of the base currency. The values listed below are for one full contract (100,000 units) of the base currency.

My live tests showed that FBS’ swap fees are slightly better than the industry average.

FBS Non-Trading Fees

FBS has no deposit or withdrawal fees and no inactivity or account maintenance fees.

Are Fees at FBS Competitive?

Overall, I rate the fees at FBS as relatively competitive for the following reasons:

• Tight spreads in popular instruments like EUR/USD and gold
• Fair overnight swap fees
• No deposit/withdrawal fees
• No inactivity fee

Platforms and Tools

MetaTrader 5 Desktop

In my live tests, I used the MetaTrader 5 (MT5) platform. It is available in 52 languages, from Arabic to Vietnamese, and provides popular features such as:

• Alerts. This feature updates traders when an instrument reaches a specific price level.
• Watchlists. Traders can create a list of their favorite instruments and follow live quotes in a market watch panel.
• One-Click Trading. This feature allows traders to execute orders with a single click and no secondary confirmation. This feature enables traders to operate faster and is especially useful for short-term traders.
• Trading from the Chart. MT5 also allows users the convenience of trading directly from the chart.

The MarketWatch panel enables traders to stay on top of their favorite instruments at a glance.

The Toolbox panel allows traders to track their open positions, market exposure, trade history, and profit/loss figures in real time.

MT5 Desktop Charts

Charting features are robust. MetaTrader 5 offers:

• 38 Technical Indicators. These include classic trend indicators, volume indicators, and oscillators.
• 44 Analytical Objects. These include lines, channels, Gann, and Fibonacci tools.
• 21 Time Frames. Traders can choose from many time frames, from one minute to one month.
• 3 Chart Types. Traders can use Bar Charts, Japanese Candlestick Charts, and Line Charts.

MetaTrader is also popular due to its copy trading and automated trading features.

• Trading Signals. Signals in MetaTrader 5 allow users to copy other traders’ activity in real time.
• Automated Trading. MetaTrader 5 allows users to develop, test, and apply Expert Advisors (EAs). EAs are programs that monitor and trade markets using algorithms.

MT5 Desktop Orders

MetaTrader 5 delivers when it comes to the range of available order types. The platform offers the following:

• Market Order. Traders use market orders to buy or sell an instrument at the best current price.
• Limit Order. Traders use limit orders to buy or sell an instrument at a specified price or better.
• Stop Loss Order. Traders use stop-loss orders to buy or sell an instrument when its price reaches a specified level.
• Stop Limit Order. Traders can manage risk more precisely with stop limit orders, which combine the features of a stop-loss with those of a limit order.
• Trailing Stop Order. Traders use trailing stop-loss orders as a stop-loss order at a defined percentage or dollar amount away from an instrument’s current market price. This order type allows traders to secure profits when they are in a winning trade while not having to exit the position.

My Key Takeaways after Testing the MT5 Desktop Platform

The MetaTrader 5 desktop platform is one of the most feature-rich and popular retail trading platforms. However, it may present a steep learning curve for beginners. MT5 offers a greater number of technical indicators, graphical objects, and analytical objects than MT4. It also has great additional features like an economic calendar and market depth (DOM).

MetaTrader 5 WebTrader

From the FBS client portal, traders can easily access the MetaTrader 5 WebTrader platform.

The MT5 web platform is very different from the desktop and has a more intuitive and user-friendly interface. It allows you to trade without any additional software – only an internet connection is required. The Web Platform allows users to trade directly from any browser and operating system.

Popular features of the WebTrader platform include

• One-click trading
• Trading from the chart
• Watchlists with real-time quotes
• Trade History
• Advanced charting

Watchlists provide real-time updates for a selected list of instruments.

MT5 WebTrader Charts

Charting via the WebTrader platform is outstanding. Traders can make use of:

• 31 Technical Indicators. These include classic trend indicators, volume indicators, and oscillators.
• 4 Analytical Objects. These include trend lines, regression channels, Gann, and Fibonacci tools.
• 9 Time Frames. Traders can choose from nine time frames, from one minute to one month.
• 3 Chart Types. Traders can use Bar Charts, Japanese Candlestick Charts, and Line Charts.

MT5 WebTrader Orders

The WebTrader platform provides standard order types including market orders, limit orders, and stop loss orders. Time-in-force conditions like Good-Til-Canceled (GTC) or a specified date can be applied to pending orders.

Traders can easily track their open positions, account balances, and profits and losses via the Trade panel, which appears at the bottom of the screen.

MetaTrader 5 Mobile App

FBS offers the MetaTrader 5 mobile app for mobile trading, which is available for Android and iOS. The app offers popular features such as alerts, 1-click trading, and trading from the chart.

The MT5 mobile app also provides many order types, including pending and stop orders. However, trailing stop-loss orders are only available from the desktop. To change the language of the MT5 app, you must change the language for your entire phone.

Overall, the MT5 app offers an above-average range of features. I rate it as a well-designed app and appreciate the wide range of technical indicators and the option of trading from the chart.

FBS Mobile App

In addition to the MetaTrader 4 and 5 apps, FBS provides a feature-rich proprietary app. It is available for Android and iOS and allows clients to trade on the go with the full range of standard order types (market, limit, and stop-loss orders). Powered by TradingView, the charting features are top-notch, offering over 90 technical indicators.

Account stats like account equity, margin, free margin, and floating P&L are all viewable within the app. Beyond trading itself, users can top up their accounts by making deposits via the app and also contact 24/7 customer support via live chat.

My Key Takeaways after Testing the FBS Mobile App

I assessed the FBS app to be user-friendly and intuitive, making it a great alternative to the MetaTrader 4 and 5 apps. I liked the wide range of features including deposits, live chat, and robust charting from TradingView.

FBS Order Execution Model

FBS uses Market Execution of orders that are executed at factual market prices and without requotes. Orders are executed within the NDD (Non-Dealing Desk) and STP (Straight Through Processing) technologies and offset directly into the systems of the liquidity providers.

Tradable Instruments

We rated FBS as especially strong in the areas of forex and crypto.

What are CFDs?

A Contract for Difference (CFD) is an agreement specifying that the buyer must pay the seller the difference between an asset’s current value and its value at the time the contract was initiated. Like futures and other derivative financial instruments, CFDs allow traders to speculate on price movements without owning the underlying asset.

What Can You Trade with FBS?

In the tables below, you can see a selection highlighting the variety of instruments available at FBS:

My Key Takeaways After Exploring FBS Tradable Instruments

I liked the broad range of instruments and the availability of shares from international markets.

However, some instruments, such as bonds and exchange traded funds (ETFs) are not available, and the overall number of instruments could be improved.

Customer Support

FBS Customer Support Test

Support is a key component of a broker’s offering – whether you are a new trader looking for guidance on how to use the platform or an experienced trader who needs help fast to exit their positions in the event of a technical glitch.

I tested support at FBS over the phone, live chat, and email, with multiple inquiries. Responses were quick, with helpful and courteous agents. With live chat, you do not have to answer a bot before being connected to a live representative. I received replies to emails within minutes and chat replies in under a minute. However, I was not able to reach an agent by phone.

Deposit and Withdrawal

FBS Deposit Methods

Processing times for deposits at FBS are better than the industry average.

FBS Withdrawal Methods

FBS does better than average by not charging a withdrawal fee and having better-than-average processing times.

Account Types and Terms

FBS Account Opening Process

Opening an account with FBS is fast and easy, and the process is fully digital. After entering your name and email, you can access the client portal, where you can complete the verification process. For this, you will need to upload an image of your driver’s license, ID card, or passport.

What is CFD leverage?

One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage. Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account.

For clients of the FBS Markets Inc. entity, the maximum leverage is 1:3000. This means that with an account of $1,000, you can control up to $3000,000 worth of positions in the market. Leverage is often described as a ‘double-edged sword’ as it can hurt you as much as it helps you. Traders should keep in mind that it can amplify both their profits and their losses.

FBS Maximum Leverage by Asset Class

Available leverage differs according to the asset class, with the most leverage available with CFDs on forex and the least with CFDs on shares.

Demo Account

FBS offers free demo accounts that can be used via the MetaTrader 4 and 5 platform and the FBS mobile app.

Demo accounts are especially important for beginners as they allow them to practice their strategies and get comfortable with the trading platform without risking real money.

The demo account features live quotes and simulates live market conditions in assets like forex and CFDs on commodities, indices, and stocks. Once users are up to speed on a demo, they can easily switch to a live account.

Swap-free (Islamic) Account

FBS offers a swap-free feature for Islamic traders, helping them adhere to the principles of Sharia law.

FBS Restricted Countries

FBS Markets Inc. does not offer financial services to residents of certain jurisdictions, including, but not limited to: the USA, the EU, the UK, Israel, the Islamic Republic of Iran, and Myanmar.

Research

The Trade Ideas section provides technical analysis highlighting conditions like price/oscillator divergence and citing support/resistance levels and potential price moves. Trade Ideas are a great way for traders to learn about technical analysis and potential opportunities in current market conditions.

The Market Insights section goes into greater depth combining fundamental and technical analysis. I appreciated the coverage of a wide range of markets – from stocks to forex and commodities – and that major news and economic data are integrated into the reports.

FBS financial analyst Adetola Freeman provides a market outlook ahead of and after major economic releases like Nonfarm Payrolls via YouTube live streams. In addition to market analysis, the sessions feature live trading.

FBS also offers classic research tools such as an economic calendar (covering currencies, stocks, and dividends), as well as a forex calculator and currency converter. Trader tools can be found on the website under the Analytics and Education tab.

My Takeaways from Exploring FBS Research Content

I found the research materials useful, and I liked that they included actionable concepts. Traders can find direction with the Trade Ideas and Market Insights reports, and there is a steady flow of content each day. The YouTube live streams are a great resource for traders. FBS could do even better by adding third-party research materials like Trading Central and Autochartist.

Education

FBS checks all the boxes when it comes to educational materials. Resources include:

• Articles
• Video guides
• Trading ideas
• Webinars
• Platform tutorials
• Courses
• Telegram group

Articles within the Trader’s blog section cover topics like market basics, psychology, strategy, and risk management. I found the material to be well written, with helpful insights for both beginners and experienced traders. With dozens of articles, there is a solid amount of content to work through.

The courses within the client portal include basic modules like an Introduction to Online Trading to advanced material like Algo Trading with MQL5. The material is broken down into short lessons with a summary at the end, making it easy to digest.

The MetaTrader platform can be challenging for new traders. The platform tutorials available on the FBS YouTube channel help take the friction out of getting started and making the most of the software.

The Telegram group allows clients to easily keep up with the latest ideas from FBS analysts and also receive support from the community of traders.

The Bottom Line

As a multi-regulated global broker with 15 years of experience and transparent practices, FBS earned a solid trust rating in our review.

The broker offers competitive fees, an advanced platform, fast execution speeds of under 30 milliseconds, and tools like VPS hosting. These features make it suitable for experienced, highly active traders.

At the same time, I experienced refreshingly reliable chat support and rated the educational resources as innovative and practical, making FBS a great choice for beginners.

Overall, I judged FBS to be a strong performer. However, it could enhance its services by adding private account insurance for the offshore entity’s clients, integrating third-party research tools, and offering tighter spreads.

FAQ