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FBS Review 2024

By:
Plamen Stoyanov
Reviewed By:
Ola Alder
Updated: Jun 6, 2024
Overall Rating
4.1
  • Trust
    4.3
  • Fees
    4.4
  • Platforms and Tools
    4.2
  • Tradable Instruments
    3.6
  • Customer Support
    4.7
  • Research
    1.3
  • Deposit and Withdrawal
    4.9
  • Account Types and Terms
    3.8
  • Education
    5
  • How Did We Test and Rate This Broker?
    When trading forex and CFDs, understanding a broker's strengths and weaknesses is essential. We developed a proprietary rating system, which is the result of extensive research and hands-on evaluation by our expert reviewers. With a rigorous approach, our reviewers manually assess each broker, investing more than 50 hours per review, checking and testing the broker while analyzing over 250 variables to simplify the broker selection process for you. The categories we evaluate include trustworthiness, trading platforms, customer support, regulatory oversight, spreads, fees, the variety of instruments offered, education, and research tools. This unique rating system is specifically developed to ensure that the assessment is based on firsthand knowledge and experience. By dedicating a significant amount of time to each review, our team of experts can provide in-depth insights and help you make well-informed decisions when choosing the broker that best suits your trading goals.
    Chart

    Our Take on FBS

    Established in 2009, FBS is a Cyprus-based forex and CFD broker offering over 150 instruments across most major asset classes.

    The broker integrates the widely-used MetaTrader 4 and 5 platforms and provides diverse account types featuring competitive spreads and commission-free trading.

    I found FBS suitable for high-frequency trading, thanks to its fast order execution. Additionally, the broker’s extensive educational content and low minimum deposit requirement should be attractive to beginner traders.

    FBS Pros and Cons

    Pros Cons
    • CySEC and ASIC regulations
    • Competitive prices
    • Fast order execution
    • Comprehensive educational content
    • Reliable customer support
    • Narrow choice of instruments 
    • Infrequent research content 

    FBS Highlights for 2024

    • Tight Regulation: FBS is licensed in multiple jurisdictions, including the top-tier CySEC (Cyprus) and ASIC (Australia).
    • Flexible Pricing: The broker offers commission-free trading with floating spreads starting from 0.9 pips, making it an attractive option for high-frequency trading.
    • Fast Order Execution: FBS boasts average execution speeds of under 40 milliseconds, placing it among the top brokers for fast and precise trading.
    • Limited Selection of Instruments: FBS offers a limited range of tradable instruments, with just over 150 options available primarily from major asset classes.
    • Extensive Educational Content: FBS provides comprehensive educational resources, greatly benefiting novice traders seeking to understand the fundamentals of trading.
    • Out-of-Date Market Analyses: The broker used to publish excellent research materials, but no new content has been uploaded in several months.

    What Sets FBS apart?

    FBS provides multilayered educational content covering general and abstract trading topics. It offers beginner traders essential know-how, helping them start their careers in the best possible way.

    What stood out the most to me is the special attention paid to learning the intricacies of automated trading, which is rather rare. FBS’s educational content balances nicely technical and fundamental analyses, the psychology of trading, and risk management.

    Who is FBS For?

    FBS averages execution speeds under 40 milliseconds, has issued a ‘best execution policy’, and has a platform (MetaTrader 5) with low timeframes (under 1 minute) and essential features like one-click trading. Thus I find this broker to be suitable for traders with high-frequency strategies, such as intraday trading and scalping.

    Additionally, due to the comprehensive educational materials and platforms with an easy learning curve, FBS is an ideal choice for beginner traders.

    I performed my tests on a Standard Retail Account with FSB using the desktop and mobile app versions of the MetaTrader 5 platform. I opened the account with the Tradestone Ltd entity of the broker. Some features and services may vary depending on where you reside and which entity you open an account with.

    FBS Main Features

    ☑️ RegulationsCySEC (Cyprus), FSCA (South Africa), IFSC (Belize), ASIC (Australia)
    🗺 Supported Languages
    English, Indonesian, Portuguese, Thai, Spanish, Malaysian, Filipino
    💰 ProductsCurrencies, Stocks, Indices, Commodities
    💵 Min Deposit$100
    💹 Max Leverage1:29 (CySEC ), 1:400 (FSCA), 1:3000 (IFSC), 1:30 (ASIC)
    🖥 Trading Desk TypeNo dealing desk, STP
    📊 Trading PlatformsMT5, MT4
    💳 Deposit OptionsMaestro, Wire Transfer, Skrill, Neteller, Credit Card, Rapid Transfer, Visa, Mastercard
    💳 Withdrawal OptionsWire Transfer, Neteller, Skrill, Credit Card, Rapid Transfer, Maestro, Visa, Mastercard
    🤴 Demo AccountNo
    🗓 Foundation Year2009
    🌎 Headquarters CountryCyprus
    Risk DisclosureCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    FBS Full Review

    Trust

    4.3
    How Did We Test the Broker's Trustworthiness?
    Assessing a broker's trustworthiness with your funds is vital. To help you make the right decision, we carefully checked each broker's regulatory license and examined how well they protect traders. Moreover, we looked at the broker's stability by studying their business history, corporate structure, and industry experience. Finally, we thoroughly reviewed all of the broker's legal documentation, including terms, conditions, and fees, and evaluated their transparency based on our analysis. Our hands-on approach ensures that even novice traders have the knowledge they need to make smart decisions.
    trust chart

    FBS operates several subsidiaries that are authorized in multiple jurisdictions. FBS complies with essential safety requirements, such as ensuring segregated funds, negative balance protection, a cap on the maximum retail leverage, and a compensation scheme. As a whole, I found the broker quite transparent.

    FBS Regulations

    In our reviews, we examine the licenses and regulations of each entity operated by a broker. This allows us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.

    This is what I discovered about the several entities operating under the FBS trade name:

    • Tradestone Ltd is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 331/17. We rank CySEC as a Tier-1 regulator.
    • Intelligent Financial Markets Pty Ltd is licensed and regulated by the Australian Securities and Investments Commission (ASIC) under license number 426359. We rate ASIC as a Tier-1 regulator.
    • Tradestone SA (Pty) Ltd is licensed and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa under FSP number 50885. We rate the FSCA as a Tier-2 regulator.
    • FBS Markets Inc. is licensed and regulated by the Financial Services Commission (FSC) Belize under license number 000102/460. We rank the FSC as a Tier-3 regulator.
    Tradestone Ltd’s licensing info on cysec.gov.cy
    Tradestone Ltd’s licensing info on cysec.gov.cy

    We have summarized the most essential aspects of FBS in terms of regulation and safety in the table below:

    Entity Features Tradestone Ltd Intelligent Financial Markets Pty Ltd Tradestone SA (Pty) Ltd FBS Markets Ltd
    Country/Region Cyprus, Limassol Australia, Sydney South Africa, Pretoria  Belize, Belize City
    Regulator CySEC ASIC FSCA FSC
    Tier 1 1 2 3
    Segregated Funds Yes Yes Yes Yes
    Negative Balance Protection Yes Yes No Yes
    Compensation Scheme Up to EUR 20,000 under ICF No No No
    Maximum Leverage 1:30 1:30 1:400 1:3000

    Why is it Important to Know Where Your Broker’s Subsidiaries are Regulated?

    Brokers operate multiple entities because it allows them to serve clients worldwide. However, licenses obtained by regulators in different jurisdictions do not always entail the same degree of protection. Some regulators mandate compliance with the strictest financial frameworks, whereas others are less rigid. That is why traders need to familiarize themselves with the safety mechanisms ensured by the entity they want to open an account beforehand.

    Here is what you need to be looking for in a broker in terms of safety mechanisms:

    • Segregation of client funds. Keeping client funds in segregated bank accounts from the ones used for the broker’s corporate capital negates the risk of accounting errors. All of FBS’s entities ensure the segregation of client funds.
    • Negative balance protection. This safety mechanism removes the risk of trading losses exceeding the account balance. In other words, the losses you incur from trading are capped at the amount you have put in your trading account. All FBS entities provide negative balance protection except for the one operating out of South Africa.
    • Compensation scheme. A compensation scheme protects traders against the broker’s liabilities in the unlikely event that the company becomes insolvent. The CySEC entity is the only one that ensures a compensation scheme. Its clients are insured up to EUR 20,000 under the Investor Compensation Fund (ICF).
    • Maximum leverage. Capping the maximum leverage restricts the extent of market exposure to retail traders. The higher the leverage, the higher the potential profits and potential losses. The maximum retail leverage with FBS is 1:3000 under the FSC entity.

    Is FBS Safe to Trade With?

    Our research indicates that all FBS entities comply with crucial safety measures, including negative balance protection, segregated funds, a cap on maximum retail leverage, and a compensation scheme. Consequently, I consider FBS to be a safe trading option, particularly its European entity regulated by CySEC.

    Stability and Transparency

    In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focus on how long the broker has been in business, how big the company is, and how transparent it is in terms of readily available information.

    I reviewed FBS’s legal documents, including its Client Agreement and execution policy. I found that the essential information on the website is detailed, concise, and easily accessible. Moreover, the broker has issued a ‘best execution policy’, obligating it to offer clients the most favorable price quotes under current market conditions.

    Unlike most brokers, FBS displays two risk warnings, one of which is right next to the ‘Open Account’ button on the main page. This is a rather rare example of a broker’s commitment to transparency and underscores FBS’s reliability. I also checked its fee transparency by evaluating the spreads and commission information on the contracts specification page, and everything seems in order.

    In summary, my research indicates that FBS can be regarded as having a quite high level of trust and stability due to the following factors:

    • Authorized by two tier-1 regulators – CySEC and ASIC.
    • Has issued a ‘best execution policy’
    • Has a fairly transparent website.

    Fees

    4.4
    How Did We Test the Broker's Fees and Commissions?
    Broker commissions and fees can be challenging to understand. To simplify this for you, we carefully examined all the broker's fee-related documentation and presented it in a clear, easy-to-understand format. Furthermore, we conducted hands-on tests on spreads and commissions for the most common instruments during both London and New York trading sessions. We then compared these real-time test results to the market benchmark we've established through our extensive experience evaluating the industry.
    fees chart

    I checked FBS’s trading and non-trading costs and determined that they meet the industry average. The broker offers floating spreads from 0.9 pips and commission-free trading. Deposits and withdrawals are charge-free, but there is a small inactivity fee. The pricing mechanism is suitable for high-frequency trading.

    FBS’s Trading Fees

    FBS’s Spreads

    I tested FBS’s spreads during the most actively traded times – the London open at 8:00 a.m. GMT and just after the U.S. open at 2:45 p.m. GMT. The test was conducted on 27 December 2023. The results are shown in the table below:

    Instrument Live Spread AM Live Spread PM
    EURUSD 0.9 pips 0.9 pips
    GBPJPY 1.9 pips 2.4 pips
    Gold (XAUUSD) 29 pips 29 pips
    Crude Oil 0.03 pips 0.03 pips
    Apple NA 0.08 points
    Tesla NA 0.13 points 
    Dow Jones 30 5.92 basis points 5.92 basis points 
    Germany 40 Not Available Not Available 
    Bitcoin Not Available Not Available 

    Broken down by asset class and compared to the broader industry, FBS charges low spreads on FX pairs and share CFDs, low-to-average spreads on commodities, and high spreads on indices.

    FBS’ Swaps

    A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

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

    Instrument Swap Long Swap Short
    EURUSD Charge of $5.46 Credit of $0.61
    GBPJPY Credit of $7.6 Charge of $35.39

    The overnight fees charged by FBS are average compared to the broader industry. This means that the broker’s services are also suitable for implementing longer-term trading strategies, such as day and position trading.

    FBS Commissions

    At FBS, trading in all asset classes, except for share CFDs, is commission-free. However, for trading share CFDs, FBS imposes a commission of 0.7% per traded lot. This rate aligns with the industry average.

    FBS’s Non-Trading Fees

    FBS does not charge a handling fee for deposits and withdrawals, though third-party banking fees may apply depending on the chosen payment method. There is also a relatively small inactivity fee of EUR 30 charged on accounts that have been dormant for more than 180 calendar days. The fee is charged quarterly until account activity resumes or the balance drops to zero.

    Are FBS’s Fees Competitive?

    The competitiveness of FBS’s fees depends on the instruments traded. That is so mostly because the broker’s floating spreads vary significantly across different markets. Generally speaking, FBS’s fees meet the industry average.

    Accounts Comparison

    I have compiled the table below to help you better understand the difference between the trading fees on FBS’s Standard account and a typical STP account in the industry. It illustrates the spreads and commissions I have recorded on the EUR/USD pair with FBS and what I usually record on STP accounts with other brokers. The table shows how much you will have to pay to trade 1 full lot (100,000 units) on the EUR/USD with a pip value of $10.

    To calculate the cost of such a full-sized trade, I used this formula: Spread x pip value+commission

    Account Type* Spread Commission** Net Cost
    Standard 0.9 $0 $9
    Typical STP $10 $0 $10

    *The numbers in this chart are only illustrative and subject to change over time

    **Round-turn commission

    My tests indicate that FBS’s trading costs on FX Majors fall slightly below the industry average. Such a trade would normally cost around $10 with most other brokers.

    Platforms and Tools

    4.2
    How Did We Test the Broker's Trading Platforms?
    We understand that platforms play a crucial role in your trading experience. That's why we spent many hours testing the broker's web, desktop, and mobile trading platforms to gain a real understanding of their usability, functionality, and overall performance. From experimenting with different order types to testing execution speeds, charting, and other features, we thoroughly examined every aspect of these platforms based on our trading expertise, helping you make an informed choice.
    platforms chart

    FBS incorporates the renowned MetaTrader 4&5 platforms that accommodate basic technical analysis and can be used for copy and automated trading. The broker also achieves average execution speeds under 40 milliseconds, which supports fast and precise order execution.

    MetaTrader 5 has many essential features, such as one-click trading, an alarm setting option, and a depth of markets tool. Because of its simplistic and straightforward design, I would say that MT4 is a good stepping stone for beginner traders learning essential charting skills on a platform with an easy learning curve. They can also take advantage of FBS’s extensive educational content.

    MT5 is suitable for copy trading and also supports automated trading via its Expert Advisors (EAs) feature. I assessed that FBS is particularly suitable for automated trading because it achieves average execution speeds of under 40 milliseconds. Meanwhile, the mobile app version of the platform supports trading on the go.

    MetaTrader’s depth of markets tool
    MetaTrader’s depth of markets tool

    On the other hand, I found MetaTrader 5 rather cumbersome. Its charting capabilities are outclassed by newer and sleeker platforms, and chart artists are likely to struggle to conduct probing technical analyses. I had a tough time scrutinizing price action because the platform makes it very difficult to scale it up and down. My other gripe with MT5 is the lack of an instruments search bar. Instead, you have to scale through the entire list of available instruments to find the particular asset you are looking for.

    FBS’ Desktop MetaTrader 5 Platform

    MetaTrader 5’s main panel
    MetaTrader 5’s main panel

    General Ease of Use

    MetaTrader 5 is easy to navigate because of its simplistic design. Account info is displayed at the bottom of the screen; charts occupy the middle portion of the window; a watch list of selected instruments and tools screen is positioned on the left side of the window; and a panel with various settings and configurations can be found at the top of the window.

    Charts

    I consider the chart screen a platform’s most important feature. It aids technical analysis by providing an overview of price action behavior and allows traders access to a number of analytical tools and chart configuration possibilities. In my view, a good chart should afford easy scaling up and down of price action.

    MetaTrader 5’s chart screen
    MetaTrader 5’s chart screen

    I have broken down the available analytical tools and chart configurations below:

    • 38 technical indicators. The platform supports trend-based, volume-based indicators, oscillators, and more. These can be applied to study price action behavior and determine the underlying market sentiment. In general, technical indicators are used to gauge where the market is likely to head next. The problem with MetaTrader 5, in my opinion, is that applying 2 or more indicators to the chart obscures price action rather than contextualizing it. This is due to the ruggedness of MT5.
    • 24 drawing tools. Drawing tools, such as Fibonacci retracement levels and Elliott waves, are used to study repeatable price patterns. Additionally, they can be applied to determine key support and resistance levels and potential breakout or breakdown levels. Despite the rather big collection of drawing tools, the ruggedness of MT5 makes it difficult to discern price action behavior.
    • 21 timeframes. MT5 allows multi-timeframe analysis of price action behavior. The greater the number of timeframes, the more intricate examinations that can be carried out across the short-term and long-term. The standout feature of MT5 is its wide range of timeframes, including ones with a period lower than 1 minute. These can be used for high-frequency trading like scalping.
    • 3 chart types. Price action can be represented as a line, bars, or candlesticks. This diversity makes it possible to examine potential trading opportunities from different angles.

    Orders

    Order placing window
    Order placing window

    I have broken down the available order types on the MetaTrader 5 platform below:

    • Market orders. Market orders are used for immediate entry at the best possible price. If triggered, they guarantee volume filling, though there could be a discrepancy between the requested price and the price where the order gets filled.
    • Limit orders. Unlike market orders, limit orders guarantee exact price execution. However, a limit order will not be filled if the price action does not reach the pre-determined execution price.
    • Stop orders. They are used to support open positions by limiting the maximum loss that can be incurred if the market turns in the opposite direction. A stop-loss order is placed at a fixed price below or above the spot price. If the market does indeed turn and triggers the stop-loss, it will transform into a market order and get filled at the best possible price.

    My Key Takeaways After Testing the MetaTrader 5 Platform

    I appreciated the possibility of fast and precise order execution, especially via MT5’s EAs feature, but I reckon chart artists will find MT5 insufficient for spotting intricate trading developments. Though noticeably more advanced than its predecessor, MetaTrader 5 still suffers from the same underlying issues. In my opinion, carrying out comprehensive technical analyses is obscured by MT5’s rugged design.

    FBS’s MT5 Mobile App

    A watchlist of selected instruments (left), chart screen (middle), and order placing screen (right)
    A watchlist of selected instruments (left), chart screen (middle), and order placing screen (right)

    FBS’ mobile app affords traders quick and easy access to the market on the go. It is very useful for making snap adjustments to any open trades. The market is volatile and ever-changing, and staying on top of the latest developments is made easy with the mobile app version of MT5. You can also use the app to place market, limit, and stop orders, as well as to adjust the exposure of your open trades.

    My Key Takeaways After Testing MT5’s Mobile App

    MT5’s mobile app suffers from the same underlying problem inherent to other mobile apps. Analyzing price action behavior on low-resolution devices is extremely difficult. That is why I recommend using the mobile app only to monitor the development of any open positions and make changes if needed.

    Tradable Instruments

    3.6
    How Did We Test the Broker's Tradable Instruments?
    For this section, we examined the broker's market offering, assessing the variety and depth of instruments and asset classes available for trading. Through our proprietary database, we then compared the results with other brokers. This comprehensive analysis allows you to determine if the broker offers the specific instruments and trading options you're looking for.
    tradable_instruments chart

    FBS offers more than 150 tradable instruments across several asset classes. Traders can choose between forex pairs, commodities, share CFDs, and indices that can be traded as Contracts for Difference (CFDs).

    What Are CFDs?

    Contracts for difference (CFDs) are derivatives used to speculate on the underlying asset’s price without physical delivery. For example, a long position on gold would generate profit as the price rises or incur a loss as it falls, all without the need to purchase actual gold bars. One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative.

    What Can You Trade With FBS?

    I have broken down the available instruments with FBS below:

    • 43 Currency Pairs
      Major, Minor, Exotic
    • 11 Commodities
      Metals and Energies
    • 99 Share CFDs
      Retail, Tech, Pharmaceuticals, Other
    • 11 Indices
      US, Europe, Asia

    Compared to the broader industry, FBS offers a low amount of share CFDs, an average amount of FX pairs, and a high amount of commodities and indices. There are no cryptocurrencies or alternatives to CFDs.

    Forex Commodities 
    EURUSD | GBPJPY | EURCHF | CADJPY | GBPUSD | USDBRL Gold (XAUUSD) | Palladium | Gold (XAUEUR) | Crude Oil | Natural Gas 
    Share CFDs Indices
    Apple | Tesla | Gilead Sciences | General Motors | Barclays | Citigroup | Disney Dow Jones 30 | Nasdaq 100 | FTSE100 | CAC40 | Germany 30 | Japan 225

    My Key Takeaways After Exploring FBS’s Tradable Instruments

    FBS offers a decent range of instruments. However, there is a noticeable absence of lower-risk securities, like bonds and ETFs, and higher-risk assets, such as cryptocurrencies. These are available with the broker’s overseas entities.

    I found FBS’s general offering sufficient for the implementation of most trading strategies.

    Customer Support

    4.7
    How Did We Test the Broker's Customer Support?
    Traders often underestimate the importance of customer support, yet it proves to be a critical aspect during times of crisis. We put the broker's customer support to the test ourselves using all possible channels, such as chat, phone, and others. Our evaluation focused on the accessibility of live agents, as well as the helpfulness and professionalism of their responses. This way, we provide you with comprehensive insights into whether a broker can deliver full support when you need it most.
    customer_support chart

    FBS offers 24/5 support over live chat, email, and phone. There is a callback option for those interested in FBS reaching out to them. I found FBS’s customer support to be prompt and reliable.

    The fastest and easiest way to get in touch with FBS is the live chat which is available from the bottom-right corner of the main page. Alternatively, you can request a callback from their end.

    FBS Customer Support Test

    When we test a broker’s customer support team, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.

    I conducted my test on 27 December at around 09:55 a.m. CET via live chat. An agent connected almost instantly, and I appreciated that she introduced herself before answering my questions. I inquired into the broker’s commission policy and instruments offering and found the agent’s answers well-informed and satisfactory.

    My conversation with FBS’s support team
    My conversation with FBS’s support team

    Deposit and Withdrawal

    4.9
    How Did We Test the Broker's Deposit and Withdrawal Process?
    The deposit or withdrawal process can be tricky since you may encounter hidden fees or longer than expected processing time. To assess the broker's offerings, we examined their deposit and withdrawal options and conditions. Using our proprietary database, we then compared these results with those of other brokers.
    deposit chart

    Payments to and from FBS accounts can be processed via bank cards, wire transfers, and e-wallets. Transactions are usually processed promptly, though transaction times may vary. The broker does not charge any handling fees for deposits or withdrawals, however, third-party banking fees may apply for some payment methods.

    FBS Deposit Methods

    Payment Method Currency Fee Processing Time
    Credit/Debit Card EUR $0 Instant
    Bank Wire EUR $0 3-4 business days
    Skrill EUR $0 Instant
    Rapid EUR $0 Instant
    Neteller EUR $0 Instant

    FBS Withdrawal Methods

    Payment Method Currency Fee Processing Time Transaction Time
    Credit/Debit Card EUR $0 15-20 minutes 5-7 business days
    Bank Wire EUR $0 Up to 2 days 5-7 business days
    Skrill EUR $0 Up to 2 days Instant
    Rapid EUR $0 Up to 2 days Instant
    Neteller EUR $0* Up to 2 days Instant 

    Some withdrawal methods may require a transaction fee when there is a withdrawal request without any prior trading activity. FBS has reserved the right to impose a 5% fee in such cases as it deems necessary.

    Account Types and Terms

    3.8
    How Did We Test the Broker's Account Types and Terms?
    When it comes to achieving your trading goals, choosing the proper account is essential. We initiated our evaluation by personally opening an account with the broker, which allowed us to gain firsthand experience of the process and accurately asses, how fast and easy it is. In addition, we carried out an in-depth analysis of the account types and features offered by the broker, including spreads, maximum leverage, minimum deposits, and more. For a comprehensive comparison, we turned to our proprietary database and examined how this broker's account offerings and processes stacked up against other brokers.
    account chart

    FBS offers a Standard account type. With low minimum deposit requirements, the account type is quite accessible both for beginners and seasoned traders. FBS also provides demo accounts and swap-free trading via its Islamic accounts.

    Why is Choosing the Right Account Type Important?

    Your account should reflect your goals, needs, and ambitions on the market. You should take into consideration several factors, such as whether the account type has a minimum deposit requirement, its spreads and commissions, the execution method, and more.

    What Account Types Does FBS Offer?

    I have broken down the features of FBS’s Standard account type:

    Account Type Standard
    Spread From 1.0 pips
    Commission $0
    Minimum Deposit EUR 100
    Retail Leverage Up to 1:30
    Pro Leverage Up to 1:500
    Max. Order Volume 500 lots
    Base Currency EUR and USD
    Market Execution From 0.3 sec
    Demo Account Yes
    Islamic Account Yes

    I tested the Standard account and determined that it caters to the needs of all kinds of traders. Its relatively low minimum deposit requirement of EUR100 makes it quite affordable, even to traders with more moderate means, while its fast execution speeds and high leverage (with its Pro version) are geared toward seasoned, high-frequency traders. EUR and USD are both available as base currencies.

    What is CFD Leverage?

    The leverage determines a trader’s overall market exposure. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of the leverage. Essentially, the broker lends the trader money so that the latter can open bigger positions. The leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades.

    FBS’s Execution Model

    FBS utilizes market execution. The broker operates on a Straight-Through-Processing (STP) basis without a dealing desk. Order requests are transmitted to the interbank level, where FBS’s liquidity providers fill them. As long as there is enough liquidity in the market, all order requests will be filled at varying speeds. The broker has access to deep liquidity because it averages execution speeds of under 40 milliseconds.

    FBS’s Account Opening Process

    FBS’s account registration form
    FBS’s account registration form

    The account creation process with FBS is straightforward and quick. You can go at your own pace, though realistically, you will be done with everything within an hour. I have summarized the step-by-step process below:

    • Step 1. Click ‘Open Account’ at the top-right corner of the main page.
    • Step 2. Enter your name and email address, and agree to the terms and conditions of the Client Agreement.
    • Step 3. Choose a password.
    • Step 4. Check the confirmation link sent to the email address you provided.
    • Step 5. Select an account type and platform.
    • Step 6. Complete a survey as part of FBS’ client categorization policy.
    • Step 7. Upload proof of ID and address to verify your account.
    Account configuration with FBS
    Account configuration with FBS

    Why is a Demo Account Important?

    FBS offers demo accounts that introduce traders to the broker’s services and allow them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account for yourself alongside your live CFD account.

    FBS’s Restricted Countries

    FBS does not accept clients from the U.S., Canada, North Korea, or other jurisdictions where trading with leveraged products is prohibited.

    Research

    1.3
    How Did We Test the Broker's Research Tools?
    Research options offered by brokers may not be seen as the most important feature for some traders, but they can provide a competitive advantage. To assess the broker's research offerings, we personally explored and tested both proprietary and third-party tools and content, such as Fundamental and Technical Analysis, Market News, educational videos, and webinars. After evaluating the availability and quality of the overall research offering, we compared the results with our benchmark to provide a comprehensive analysis of the broker's research capabilities.
    research chart

    The European entity of FBS used to publish regular research content of very high quality. However, no new market breakdowns or analyses have been released for several months. Presently, the only available research tools include an economic calendar and several currency converters. I was assured by FBS’s customer support that they intend to resume publishing research materials in the foreseeable future.

    Research Tools

    FBS’s economic calendar
    FBS’s economic calendar

    Please note I have only listed the currently available research tools:

    • Economic Calendar. The economic calendar is an essential tool in a trader’s arsenal. It informs traders of upcoming market events and releases that have the potential to stir price action, thereby creating viable trading opportunities. FBS’s calendar is available from the website.
    • Currency Converters. The currency converters, as the name suggests, are useful tools for estimating market exposure. Traders use them to calculate the size of their positions, costs, value of trades, and more.
    FBS’s Forex calculators
    FBS’s Forex calculators

    My Key Takeaways After Exploring FBS’s Research Content

    FBS used to provide well-balanced research content comprising of probing market breakdowns (written articles and videos), trade ideas, and more. However, these have not been updated in several months. I hope that the broker resumes publishing regular content once more, as I found it very useful, especially for those interested in reading about viable trading opportunities in the short and mid-terms.

    Education

    5
    How Did We Test the Broker's Education Offering?
    Gaining knowledge about trading in the financial markets can make the difference between success and failure. To assess the broker's educational offerings, we personally tested and evaluated the quality of the content provided, considering its relevance for both novice and experienced traders. We explored the range of materials available, such as articles, videos, webinars, and courses. After evaluating the content's volume, update frequency, and overall quality, we compared the results with our benchmark to provide a well-rounded analysis of the broker's education offerings.
    education chart

    FBS impresses with the scope of its educational content. The broker offers multilayered learning materials that cover various topics relating to the ABCs of trading, including technical and fundamental analysis and the psychology of trading. There are multiple videos, written articles, and guidebooks offering beginner traders a well-rounded outlook into the most important trading concepts.

    FBS’s educational courses
    FBS’s educational courses

    I have broken down FBS’ main types of educational content below:

    • Educational Course. Three-tier course (beginner, intermediate, advanced), available from the client area. The topics covered include an introduction to online trading, an explanation of Japanese candlesticks, and Algo trading with MQL5.
    • Educational Guidebooks. Available on the website, these guidebooks are free for all visitors. They offer a basic introduction to essential trading topics, covering areas such as technical and fundamental analysis, studying price action behavior (trends, ranges, breakouts, and breakdowns), risk management, and more.
    • Regular Webinars. FBS frequently conducts webinars on several major topics, including event trading, market outlook, real-time analysis, and trading skills. Recorded past webinars are available on FBS’s YouTube channel.
    • Forex Glossary. This comprehensive glossary contains explanations for hundreds of entities, covering the most important trading terms.
    FBS’s educational guidebooks
    FBS’s educational guidebooks

    The Bottom Line

    FBS, established in 2009 and headquartered in Cyprus, is a reputable derivatives broker serving both beginners and professionals. It boasts an impressive average execution speed of under 40 milliseconds, ideal for high-frequency trading while providing extensive educational materials for new traders.

    The broker offers commission-free trading with competitive floating spreads across various asset classes. Although it utilizes the user-friendly MetaTrader 4&5 platforms, it lacks a proprietary platform, and MT’s design can be challenging for in-depth technical analysis.

    While was impressed by the scope of FBS’s educational materials, its research content has been dormant for several months. However, I was assured that the broker plans to start publishing research content again soon.

    Overall, I estimated FBS to be well-suited for high-frequency, intraday, and scalping traders, especially those trading currency pairs. While beginners may have a learning curve with MetaTrader, they can benefit from the FBS’ extensive educational collection.

    FAQ

    FBS is headquartered in Limassol, Cyprus. It also has offices in Australia, South Africa, and Belize.
    FBS holds two Tier-1 licenses (CySEC and ASIC) and adheres to most essential safety mechanisms, such as ensuring segregated funds and negative balance protection. As a whole, I found FBS safe to trade with.
    The minimum deposit requirement with FBS is EUR 10.
    Traders can deposit funds via Visa/Mastercard, Maestro, Wire Transfer, Skrill, RAPID, Transfer, and NETELLER.
    Withdrawals can be processed via wire transfer, credit/debit card, and e-wallets.
    FBS does not charge withdrawal fees, even for bank wire transfers.
    Transaction times may vary between 3 to 8 business days.
    The maximum leverage for retail traders with FBS is 1:3000 with its Belize entity.
    The account can be opened from the main page of the website.
    FBS incorporates MetaTrader 4 and MetaTrader 5.
    FBS has reliable customer support, offers comprehensive educational materials, and incorporates platforms with easy learning curves. All of this makes it suitable for beginner traders.
    Yes, it does.
    Thanks to platforms with low timeframes (less than 1 minute), one-click trading, and execution speeds under 40 milliseconds, I assess FBS to be suitable for scalping.
    Yes, auto-trading is available via MetaTrader 4 and 5’s Expert Advisors (EAs) feature.
    Yes, hedging is allowed with FBS.
    No. Spread betting is not available with FBS.
    No, FBS does not offer VPS hosting.
    No, FBS operates on a No-Dealing-Desk (NDD) basis, where its client orders are sent directly to its liquidity providers.
    No, FBS does not operate a bank.

    See FBS Full Information

    Headquarters CountryCyprus
    Foundation Year2009
    RegulationsCySEC (Cyprus), FSCA (South Africa), IFSC (Belize), ASIC (Australia)
    Publicly TradedNo
    Number Of Employees201
    Trading Desk TypeNo dealing desk, STP
    Trading PlatformsMT5, MT4
    Restricted Countries
    North Korea, Iran, United States, Russian Federation, Myanmar, Syria, Cuba, China, India, Vietnam, Pakistan, Afghanistan, Belize, Serbia, Cyprus, United Kingdom
    Supported Languages
    English, Indonesian, Portuguese, Thai, Spanish, Malaysian, Filipino
    Min Deposit$100
    Max Leverage1:29 (CySEC ), 1:400 (FSCA), 1:3000 (IFSC), 1:30 (ASIC)
    Deposit OptionsMaestro, Wire Transfer, Skrill, Neteller, Credit Card, Rapid Transfer, Visa, Mastercard
    Withdrawal OptionsWire Transfer, Neteller, Skrill, Credit Card, Rapid Transfer, Maestro, Visa, Mastercard
    Time to Withdrawal2
    Time to Open an Account8
    Products
    Currencies, Stocks, Indices, Commodities
    Demo AccountNo
    OCO OrdersNo
    Offers HedgingNo
    Automated TradingYes
    API TradingNo
    Guaranteed Stop LossYes
    Guaranteed Limit OrdersYes
    Guaranteed Fills / LiquidityYes
    Economic calendarYes
    Trading From ChartYes
    One-Click TradingYes
    Expert AdvisorYes
    Social TradingYes
    AutochartistNo
    Trading SignalsYes
    Platform Languages
    Italian, Portuguese, Chinese, Arabic, Turkish, Thai, Korean, Vietnamese, English, French, Spanish, German, Malaysian, Indonesian
    24 Hours SupportYes
    Support During WeekendsNo
    Live ChatYes
    Daily Market CommentaryYes
    News (Top-Tier Sources)Yes
    WebinarsYes
    Deposit FeeNo
    Withdrawal FeeNo
    Inactivity FeeYes

    About the Author

    Plamen StoyanovBroker Analyst

    Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.

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