FBS Review
Established in 2009, FBS is a leading forex broker that is based in Belize. The FBS brand is managed by a holding company called FBS Markets Inc. Its head office is located at Address: No.1 Orchid Garden Street, Belmopan, Belize, C.A. Today, FBS is servicing clients in more than 190 different countries. FBS strives to provide its customers with the best trading experience. It does this by providing educational materials, advanced trading technologies and organizing special events. To cater to their diverse clientele base, FBS has also provided a wide range of trading accounts for them to choose from.
FBS Video Review
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Regulations
In terms of regulatory oversight, FBS is regulated by CySEC (Cyprus Securities and Exchange Commission) under registration number 353534. Also, FBS is regulated the International Financial Services Commission (IFSC) of Belize under the license number IFSC/60/230/TS/18. The agency was established in 1999 to monitor and supervise all financial services providers in the Belize financial industry.
Reliability
As for FBS’s reliability, the broker has over the years since it has been operational, won numerous awards. Some of its achievements include “Best Forex Broker Southeast Asia”, “Best Customer Service Broker Asia 2016”, “Best Forex Broker Thailand” and “Best International Forex Broker”. FBS also won an award from the Indonesian Government for disaster relief work in 2017. All these awards serve to show that FBS is a socially responsible broker with high ethics.
Trading Platforms
For trading platforms, FBS uses the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. The MT4 trading platform is the world’s most popular trading platform. It is widely adopted by brokers in the industry due to its reliability and robustness. Traders also prefer the MT4 trading platform to other trading platforms due to the numerous trading tools that are integrated into the trading platform itself. As for the MT5 trading platform, it also comes with numerous trading features that are highly appreciated by traders. An updated trading platform, the MT5 was developed to handle trading in various asset classes and not just the currency market. Both the MT4 and MT5 trading platforms are available as a WebTrader or a Desktop client.
Key Features of the MetaTrader trading platforms
Ability to handle trading in the spot, futures and CFDs markets
One click trading support multiple order types
Advanced charting package
Large Library of technical indicators
VPS Support
EA trading supported
Copy Trading Platform
FBS has also introduced the concept of social trading on its trading platform. With FBS social trading platform, you can now join the network of traders to follow other selected traders based on their trading experience, trading strategies and win ratio. By following in the footsteps of these successful traders, you can now cut down the time for your learning curve. In addition, if you are a good trader, you can also earn commissions from allowing others to copy your trading success.
Mobile Trading
For traders wishing to trade the markets from their smartphones, FBS has also provided mobile trading apps for both the MT4 and MT5 trading platforms. These apps can easily be downloaded from the Google Play store and Apple App Store. With these apps, traders can check their accounts, manage their trading funds or execute trades directly from the palm of their hands.
Trade Types/Instruments
FBS currently offers several types of instruments for its traders to with. They comprise of the spot currency markets, CFDs, and Futures. The CFDs market also covers several diffident asset classes such as crude oil, precious metals, and cryptocurrencies.
Account Types
One of the most striking features of FBS’s products and service offering is the large selection of trading accounts that are available. In total, FBS has 4 different types of trading accounts on offer. They comprise of the Cent Account, Standard Account, Zero Spread Account and ECN account.
Cent Account
Minimum deposit of $1
Floating Spread
Commission-free trading
1:1000 Leverage
Market Execution
Standard Account
Minimum deposit of $100
Floating Spread
Commission-free trading
1:3000 Leverage
Market Execution
Zero Spread Account
Minimum deposit of $500
Fixed Spread
Commission-free trading
1:3000 Leverage
Market Execution
ECN account
Minimum deposit of $1000
Floating Spread
Commission-free trading
1:500 Leverage
ECn Execution
Commissions & Spreads
As for the applicable trading costs at FBS, the broker offers both fixed and floating spreads. The spreads offered are competitive and are in line with the industry average. Fixed spreads start from a minimum of 3 pips while floating spreads start from a minimum of 0.2 pips. The table below shows some of the typical spreads which traders at FBS can expect to receive.
Instrument Spreads (in pips)
AUD/USD
0.6
CAD/JPY
1
GBP/USD
0.7
NZD/CAD
1
EUR/AUD
7
USD/CAD
1
EUR/USD
0.5
USD/JPY
1
GBP/JPY
1
CHF/JPY
1
Deposits & Withdrawals Options
Another aspect of FBS which makes the broker stand out from the rest of the brokers in the industry is the payment options that are available. In fact, FBS is the only broker in the industry that we are currently aware of that offers more the 70 different types of payment options. They range from major credit cards, bank wire transfer, and e-wallet.
For withdrawals, the choices available are just as many. The times required for a withdrawal payout depends on the method used. For credit cards, the payout time is a maximum of 48 hours. For eWallets such as mybitwallet, the payout is instantaneous.
Bonus & Promotions
FBS has several types of bonuses. They comprise of the $50 welcome bonus, the Bonus 123, the 100% deposit bonus. Apart from bonuses, FBS also has a trading promotion where a trader can win an iPhone X just by trading.
Customer Support
The customer support service at FBS consists of a comprehensive educational center and a detailed FAQ. For traders that require live support, they can reach out to the support team 24/7 through live chat.
Pros and Cons
Pros
24/7 Customer support
CopyTrading Available
ECN trading available
Multiple choices of trading accounts
Cons
No telephone support
Limit coverage of the markets
FBS Q&A
Yes, FBS is regulated by the International Financial Services Commission (IFSC) of Belize and by the Cyprus Securities and Exchange Commission (CySec).
FBS is based in Belize. Its address is No.1 Orchid Garden Street, Belmopan, Belize, C.A.
FBS makes its money by charging its traders a small spread on the trades that they executed on the broker’s trading platform.
How do I deposit in FBS account?
You can deposit funds at FBS using more than 70 different methods such as credit cards. Wire transfer, online payment portals, and eWallets.
How do I withdraw money from FBS?
Withdrawals at FBS are initiated through bank wire transfer, credit cards, and e-wallets.
How do I open an account with FBS?
To open an account at FBS, you need to first fill up a registration form and submit it with all the required information.
Yes, FBS is a reliable broker. It has won numerous awards over the years testify to the high-quality services offered by the broker.
Yes, FBS uses both the MetaTrader 4 and MetaTrader 5 trading platform.
The maximum leverage offered by FBS is 1:3000.
No, FBS is not a scam. The broker has been operational since 2009.
FBS is a safe broker. The broker uses SSL encryption technology to protect its servers and its clients’ personal data.
Conclusion
From our review, we noted that FBS is truly deserving of the various awards that the broker has won over the years. The broker is able to offer a safe and secure trading environment for its traders to carry out their trading activities. In addition, the platforms offered by the broker are reliable and efficient. The broker also offers you the choice of ensuring your deposit for additional safety. But what is most striking about the FBS is the fact that there are more than 70 different ways in which you can withdraw your funds. Hence if you are looking for a reliable broker, we highly recommend FBS for the ease with which you can open a trading account at this broker for just a minimum deposit of $1.
