FBS is a regulated brokerage offering online trading on a range of Forex and CFD instruments across different asset classes. The broker provides traders with competitive trading conditions including tight spreads, low fees and rapid trade execution speeds. You can trade with FBS on the popular, powerful and user-friendly MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. They also provide a range of trading tools, market analysis, educational materials and convenient account funding options.
FBS Review, Pros & Cons
- Only $1 is required to commence live trading
- Choice of advanced yet easy to use trading platforms
- Range of trading instruments across different markets
- Various quick & easy deposit/withdrawal methods
- Multiple account types to suit every trader
- Tight spreads, low fees & fast trade execution speeds
- CopyTrade which is a social trading platform
- Demo trading accounts
- Dedicated customer support team
- No service to clients from USA, Japan, Israel, Canada and some other countries
- Very high spreads on Cent accounts
- Inactivity fee
In this detailed FBS review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
FBS is a global online forex and CFD broker that has been in operation for over a decade and has become very popular amongst online traders. FBS Inc. began operations in 2009 and has grown in strength, size and capital. Today, the broker has offices and partners from all parts of the world. The website is translated in over 17 languages.
The broker claims that every day, thousands of new online trading accounts are opened. These accounts belong to both traders and new partners. FBS boasts of millions of clients from over 190 countries across the world.
FBS provides access for traders to buy and sell over 75 trading instruments. The platforms available are the popular MT4 and MT5 trading platforms. The broker uses ECN and STP brokerage model which means that they do not trade against the trader or take the opposite position as a market maker broker would. The brand offers spreads starting from 0 pips along with ECN technology for pricing and executions.
Over the years, FBS has won industry standard awards for its online brokerage services. These awards are in different areas such as trader education, trading accounts and copy trading. Additionally, FBS has won the overall ‘best broker award’ in various jurisdictions.
The European arm of the brokerage (www.fbs.eu) is owned and operated by ‘Tradestone Ltd’ which is a financial investment services firm based in Cyprus. Tradestone Ltd is regulated by the Cyprus Security and Exchange Commission (CySEC). The registration number is 331/17.
The global website (www.fbs.com) is operated by FBS Markets Inc. which is regulated by the International Financial Services Commission (IFSC) in Belize. The license number is IFSC/60/230/TS/18.
The European clients are given some form of insurance by the Investors’ Compensation Fund (ICF). If for any reason the broker becomes bankrupt, the ICF can compensate traders up to a maximum amount of €20,000.
All clients are fully verified using the ‘proof of id’ and ‘proof of address’ method. The broker also adheres to the Anti Money Laundering (AML) policy.
Industry standard Secured Socket Layer (SSL) has been implemented across all platforms and websites. This is to deter hackers and cyber criminals.
FBS does not allow clients from the following countries: Japan, USA, Canada, Myanmar, Brazil, Malaysia, Israel and the Islamic Republic of Iran. Some FBS broker features and products mentioned within this FBS review may not be available to traders from specific countries due to legal restrictions.
MT4 & MT5
These are the MetaTrader platforms made available to FBS clients. These two platforms are the products of MetaQuotes Software Corporation which is a firm specialised in developing trading softwares. They came up with the MT4 in 2005 and later in 2010; they developed its updated version known as the MT5. Basically, the two platforms look alike in appearance and have very similar features. The only difference is that the MT5, being the newer version, has more features and even expanded the features already existing in the MT4. Both platforms are available as desktop applications for windows and MAC computers. They are also available as WebTrader and as mobile apps. The WebTrader version can be accessed from the FBS website on a web browser. It requires no downloads or installations. The MT4 and MT5 apps can be downloaded from the android and iOS app stores. The apps are easy to use and have most of the features of the desktop application.
Here are a few of the features of the MetaTrader platforms:
- Customisable interface, windows, lists and overall appearance.
- The market Watch and charts display the live ‘bid and ask’ price of every instrument.
- Three chart styles which includes Bar chart, candlestick and line charts.
- MT4 has 9 timeframes while the MT5 has 21 timeframes.
- MT4 has 30 inbuilt indicators while the MT5 has 38.
- Supports the automation of strategies using Expert Advisors (EAs).
- Access the MetaTrader market where you can buy trading tools like signals, indicators, EAs, etc.
This is the version of the MT4 trading platform designed for account managers. The MT4 Multiterminal is capable of managing different trader accounts from a single manager account. The manager can place trades in multiple accounts with a single click.
This is the mobile trading platform from FBS for trading on the go. The app is designed for iOS and Android devices and can be downloaded from their respective app stores. It has a simple interface and is user friendly. It integrates with the MetaTrader platforms and can also be used to fund and withdraw from trading accounts. With the app, live quotes, charts and statistics can be accessed. Trade positions can easily be entered, modified or closed from the app.
FBS CopyTrade Platform
FBS CopyTrade is a social trading platform where investors replicate the trades of other expert traders who wish to share their strategies. The investor can copy traders whilst the expert trader receives a commission. The CopyTrade platform ranks the expert traders according to their success. Investors can then profile their statistics and make a choice. The minimum investment amount is $100. CopyTrade is only available via its mobile app which is developed for iOS and android devices. With the app, you can customise your favourite traders, start and stop copying a trader in one click and also chat with the support team. It should be noted that past performance is by no means any guarantee of future performance.
FBS Trading Tools
FBS Personal Area Mobile App
This is an Android app designed by FBS in order to access the FBS personal area. With this app, you can create both demo and real accounts and manage all of them. From the app, you can manage your personal profile, fund and withdraw from your trading accounts and also view the accounts history. Account verification can be done from the app. Customer support is also accessible from the app.
Virtual Private Server (VPS)
A Virtual Private Server (VPS) can run your trading platform remotely 24/7 offering reduced latency, consistent internet connection and overall reliability. Traders who use complicated trading systems and automated trading systems (EAs) often insist on using VPS to solve the problem of fast connection round the clock. With a VPS, you do not need to keep the trading platform running on your computer as it runs remotely. FBS allows clients to set up a free VPS server. However, the client must be an active trader with a minimum balance of $450.
This is an important tool for fundamental analysis. This calendar is on the FBS Markets website and on the MT5 trading platform. It shows the date and time at which an event is to take place. These events are most likely to have an impact on the forex/CFD market. Analysts’ forecasts and history of past releases are shown on the calendar. The calendar can be searched using filters on the right hand side.
This is used to convert one currency to another using the prevailing exchange rates. This is useful for traders who have a different currency from that of the trading instrument. It is also useful for traders whose account currency is different from their local currency.
This is a very useful tool used to calculate estimated potential profits from a trade. You are to choose the account type, trading instrument, currency, leverage and prices. The trader’s calculator gives you the estimated profit for the trade based on your inputs.
The news is updated every business day. It is grouped under the asset classes of commodities, currencies, stocks and economy.
Daily Market Analysis
This analysis is presented by FBS analysts. This section of the website looks at selected trading instruments and uses technical and fundamental analyses to make predictions. Trading ideas are given to traders to either buy or sell. Sometimes even ‘take profit’ and ‘stop loss’ prices are given. There is no guarantee on the quality of the analysis offered due to the unpredictable nature of trading.
This is made up of videos on daily and weekly market insights. There are also videos on daily trading plans and video recordings of past webinars.
Forex Guidebook is the ultimate introduction to the world of forex trading. It is arranged in order for beginners, elementary, intermediate and experienced traders. The guide consists of articles, pictures and clear illustrations.
A library of the recommended forex books is listed on the website. This is to encourage beginners to buy some of these books and read. Most of the books can be bought from Amazon and the link to buy is provided. There are over 100 books to choose from.
Webinars and Seminars are announced from time to time. Webinars are more frequent as it comes up almost every week. Seminars are periodically held in different cities.
Also, there are video lessons on MetaTrader, FBS services and general forex trading.
FBS offer 28 forex pairs which includes the major and the minor currency pairs. Also there are 9 exotic pairs, 5 metal assets, 3 CFDs and 33 US stocks.
FBS Accounts & Fees
The following online broker account types are available:
- Cent Account: This minimum opening balance is $1 and the floating spread starts from 1 pip. The trading fee is incorporated into the spread. The maximum leverage is 1:1000. For European clients, the opening balance is €10 and the spread is 1:30.
- Micro Account: The amount required to open this account is $5. The spread is fixed and it starts from 3 pips. The maximum leverage is 1: 3000.
- Standard Account: This is the entry level account for a trader. The minimum account opening balance is $100. The variable spread starts from 0.5 pips and the maximum leverage is 1:3000. For European clients, the opening balance is €100 and the maximum spread is 1:30.
- Zero Spread Account: The opening balance is $500 and the spread is fixed at 0 pips. Commissions are charged at $20 per lot. The maximum leverage is 1:3000.
- ECN Account: This is the premium account offered by FBS. The floating spread starts from 1 pip and a commission of $6 is charged. The maximum leverage is 1:500 and the minimum opening balance is $1000.
Commissions are only charged on the ‘Zero Spread’ and ECN accounts. Only the Standard and Cent accounts are available to European clients. The maximum leverage is 1:30 due to ESMA regulations.
Demo accounts are available for all account types. Islamic accounts are available on request. Islamic accounts do not incur rollover charges.
As broker fees can vary and change, there may be additional fees that are not listed in this FBS review. It is imperative to ensure that you check and understand all of the latest information on the official FBS website before opening a brokerage account.
FBS proudly asserts that its customer support desk is always available 24/7. The support team is multilingual and can be reached via phone, email, fax and ‘call back’ form. The call back form is used to schedule a call from the support team at your convenience.
For instant chats, they can be reached on web chat, viber, facebook messenger and telegram. On social media, they are on facebook, Instagram, twitter and YouTube.
FBS Deposit & Withdrawal
FBS offers multiple payment options. The broker only accepts online payments and card payments. Withdrawal requests are processed within 48 hours. All clients must be verified before withdrawal requests are approved. Here are the account payment options:
- Credit/Debit Cards: The acceptable cards are Visa and MasterCard. The deposits are processed instantly. No commissions are charged because FBS covers the charges.
- Electronic Payments: The electronic payments accepted are Perfect Money, Skrill, Neteller and SticPay. FBS covers most of the commissions except for SticPay which is charged 2.5% + $0.3.
- Bitwallet: This is allowed only in JPY. No commissions are charged and the payments are instantly processed.
- Local Exchangers: FBS allows for local exchanges in several jurisdictions. This is achieved because of the numerous partnerships across the globe.
Accounts can be opened in EUR, USD. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
FBS Account Opening
To register for a new account, click on ‘Open Account’ found on the topmost right hand side of the website. Fill your email address and name in the form that displays.
Then, click on ‘Register as Trader’. If you already have a Facebook or Google account, you can simply click on the icons to allow FBS to receive your profile information from these websites.
You are issued a temporary password but advised to change it. Choose a new password and click ‘Change’. An email confirmation is sent to the entered email address. Confirm your email address by clicking on a link in the email. You will be directed to the FBS website and personal area where you can create more accounts, make a deposit and commence trading.
What is the FBS minimum deposit?
FBS minimum deposit varies depending on the trading account you choose. Cent account has the smallest initial deposit of $1, while the minimum deposit required to open the ECN account is $1000. The fact that you can get started with just $1 means that you can try the broker’s platform and trading services with minimal risk. This will help you to determine if FBS is a suitable choice of broker for you in the long term.
How do I deposit money into FBS?
To deposit money into FBS, you have to open the “Deposit” within the “Finances” section in your Personal Area. Choose the preferred deposit method, select offline or online payment, and click the Deposit button. Select the account you wish to deposit funds into and enter the deposit amount. And confirm your deposit details on the next page.
FBS offers different funding methods, including numerous electronic payment systems, credit and debit cards, bank wire transfers, and exchangers.
What are the FBS deposit fees?
There are no deposit fees or commissions charged by FBS for any deposits into the trading accounts.
How do I withdraw money from FBS?
Withdrawal from a trading account can be executed in your Personal Area via the same payment system that was used for depositing: electronic payment systems, credit and debit cards, bank wire transfers, and exchangers. In a situation where the account was funded via various methods, withdrawal is executed via the same methods in the ratio according to the deposited sums.
What are the FBS withdrawal fees?
The broker does not charge any withdrawal fees.
What is the FBS commission fee?
FBS covers all commissions. Hence you will not be charged any commission on your trading account.
Are there any FBS inactivity fees?
The broker charges a monthly fee of $5 on accounts that have remained dormant for up to 180 days.
What are the FBS account types?
FBS provides traders with various live trading account options. The account types differ in their minimum deposit requirements, and they include Cent, Micro, Standard, Zero Spread, and ECN accounts with minimum deposit requirements of $1, $5, $100, $500, and $1,000.
Is there an FBS demo account?
Yes. FBS offers a demo account for practice purposes.
A demo account allows you to trade the markets at no cost and risk-free. This can be a great way to familiarise yourself with the trading platforms and practice your trading strategies in a simulated trading environment without fear of losing real money.
Once you’re familiar with the platform’s functionality and have a trading strategy that you are confident about, you can then look to open a live account with as little as $1.
It is important to note that trading with virtual money on a demo account can be different from trading with real funds. The emotions involved that can impact trading decisions may not be the same, while a demo account feed cannot replicate the re-quotes and slippage of a real account.
What are the FBS spreads?
The broker offers both floating and fixed spreads starting from as low as 0.5 pips.
The spread is the difference between the bid-ask prices you pay for each trade you take with the broker. It is the difference between the highest price that a buyer is willing to pay for an asset and the lowest price that a seller is willing to accept.
What is the FBS leverage?
FBS offers maximum leverage of up to 1:3000
Leverage allows you to trade a larger position size greater than you can without it. Although this can improve potential profit, it also significantly increases risk. Therefore, it is imperative to ensure that you have a clear understanding of what leverage is and how it works before trading leveraged positions.
What are the FBS margin & stop-out levels?
A margin call is a specific margin level — at FBS, it equals 40% — that, once reached by the trader, initiates a warning to make sure the trader either closes the losing trades or deposits more funds into the account.
Once the margin level drops to the minimum allowed level, or stop out level — at FBS, it’s 20%— some of the trades, starting with the most losing ones, will be closed automatically to prevent the trader’s negative balance.
Equity, margin level, and free margin change in real-time, so pay close attention to those numbers, especially if you use a larger leverage ratio.
Do FBS allow hedging, scalping & expert advisors?
Yes, FBS permits most trading strategies, including hedging, scalping & expert advisors.
Is there an FBS Islamic account?
Yes, FBS offers Islamic accounts. Islamic accounts comply with the sharia law and have no swap rates or rollover costs on overnight positions. They are best suited for clients of the Muslim faith.
What are the FBS trading instruments?
The broker offers the following financial assets: forex, commodities, cryptocurrency, stocks, shares, indices, metals, energies, and CFDs.
How do I open an FBS live account?
Opening an FBS account is simple. You need to click on the Open a Live Account link on the top right corner of the FBS website and complete your application form. Once the accounts team has approved your online application form, you will be emailed your trading account login details and password. You can then download the trading platforms and fund your account.
How do I verify my FBS account?
You can verify your FBS account electronically by uploading the following documents:
- Proof of Identification: clear copy of a valid Passport, National ID, or Driver’s license.
- Proof of Residence: clear copy of bank or credit card statement, utility bill (e.g., water, electricity, gas, landline phone, Internet, TV Service), municipality statements.
What is the FBS trading platform?
FBS provides traders with the following trading platforms: FBS Trader, MT4, MT5 trading platforms. The MT4 and MT5 are trendy trading platforms that were designed to offer seamless trading of multiple financial markets. The platforms are available as desktop applications for Windows and Mac computers, WebTrader, and mobile apps that are designed for mobile devices running on Android and iOS.
The FBS Trader is a proprietary trading platform. It is reputed for being an all-in-one trading platform app that gives you access to the world’s most wanted trading instruments right from your pocket. These platforms are available in desktop, web, and mobile versions.
Where can I download the FBS platform?
While the desktop applications for Windows and Mac computers can be downloaded from the broker’s website, the mobile apps can be downloaded from the Google and Apple stores, which can also be accessed from the broker’s website. However, the Web Trader platform does not require any downloads or installations as it can be accessed directly from the broker’s website via any modern web browser.
Where is FBS located?
FBS is headquartered in Belize.
Is FBS regulated?
The European arm of the brokerage (www.FBS.eu) is owned and operated by ‘Tradestone Ltd,’ a financial investment services firm based in Cyprus. Tradestone Ltd is regulated by the Cyprus Security and Exchange Commission (CySEC). The registration number is 331/17.
The global website (www.fbs.com) is operated by FBS Markets Inc., regulated by the International Financial Services Commission (IFSC) in Belize. The license number is IFSC/60/230/TS/18
What countries does FBS accept?
The broker accepts clients from different parts of the globe, provided that their respective country of residence permits online trading with international brokers.
Is FBS a scam?
No, FBS is not a scam. The broker is well regulated in various jurisdictions, including CySEC in Cyprus and the IFSC in Belize.
How can I contact FBS support?
The broker’s client support team can be reached via the following contact channels: telephone, email, call-back form, and social media.
FBS is an established online trading broker that has been built with a desire to accommodate all levels of traders as well as trading styles. It is a regulated brand that has implemented all the necessary security procedures that are standard in the online brokerage industry.
The beginner is fully supported with unlimited demo accounts and a selection of comprehensive training resources. With as little as $1, live trading can commence on the provided platforms. Spreads start from 0 pips and with ECN technology, trades are executed in seconds with minimal slippage.
The FBS CopyTrade, analytics and trading tools are also commendable. They have won multiple awards and serve millions of traders across the globe. Despite that, there are other online brokers who offer much more trading instruments and more favourable fees overall.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.76.2% of retail accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.