FBS Review
Introduction
FBS is a global broker with operations in more than 150 nations. It goes above and beyond to offer the best possible service by providing great educational materials, cutting-edge trading technologies, and the most recent forex market strategies. Also, FBS actively hosts seminars and other special events to expand the knowledge of their clients which are helpful to traders of all experience levels. Since its inception in 2009, FBS has consistently worked to earn the respect of its peers in the industry and the satisfaction of its clients. With a wide selection of trading instruments, they constantly try to demonstrate that they are a trustworthy broker.
FBS has established a great reputation as a broker by creating a welcoming, highly educational, and affordable trading environment that is simple to access. Regulated by the International Financial Services Commission (IFCA, Belize), Authorised Financial Services Provider (FSCA, South Africa) and Australian Securities, Investment Commission (ASIC, Australia), and Cyprus Securities and Exchange Commission (CySEC, Cyprus), FBS is a good-to-go broker for both beginners and experienced traders.
Features of FBS
Assets:
FBS provides access to various trading assets namely Forex, Indices, Stocks, CFDs, Indices, Energies, Metals, and Crypto (only in the FBS Trader app).
- Forex: 28 standard forex pairs and 16 exotic pairs
- Metals: Gold and Silver
- Stocks: UK, US, and German stocks
- Indices: More than 10 cash-based indexes
- Energy: Natural gas, WTI oil, and Brent crude oil
- Cryptocurrency: Crypto tokens can only be accessed through FBS Trader app. Cryptos can be traded with another cryptos or with other instruments like forex, fiat currencies, metals.
Platforms:
FBS clients will gain three trading platforms— FBS Trader platform, MetaTrader 4, and MetaTrader 5 platform. The FBS trader platform is available for both Android and Apple iOS. The MetaTrader 4 & 5 platforms are available for Android, Web, Windows, macOS, etc.
Trading Accounts:
FBS offers four types of trading accounts— Standard, Cent, ECN, and Crypto Accounts. The standard account is a classic industry account with the broadest range of instruments. The Cent account is great for algorithmic trading and beginners because it is low-risk. The ECN accounts are ideal for professional traders as it offers the best conditions with large orders.
Education:
FBS offers high-quality educational materials to all its clients via platform tutorial videos, general educational videos, webinars, quality educational articles, forex Intensive, etc. Also, it offers demo accounts so that traders can get a feel of the market before engaging in the live market. This will help you get acquainted with real-market-like conditions which will further develop your trading skills and expertise.
Copy Trading:
FBS offers Copy trading/Social trading to traders who want to engage in trading without putting in their own effort. Copy trading is a strategy where novice traders copy the positions of experienced traders and make profits.
Languages:
FBS provides its platforms in multiple languages namely Arabic, Chinese, English, French, German, Hindi, Indonesian, Italian, Japanese, Korean, Malay, Portuguese, Spanish, Thai, Turkish, Urdu, and Vietnamese.
Customer Support:
One of the most dominant reasons for FBS staying on top is its great customer support service. Their support team is available 24*7 via Phone, Live Chat, Email, and Social Media. You also have access to Forums, Manuals, Newsletters, FAQ Support, and Call Backs.
Islamic Accounts:
FBS appreciates the variety of its clients and knows that different customer types have different needs. Thus, they offer swap-free accounts, also called Islamic accounts, specifically for Muslim traders who do not go against Islamic teachings.
Payment Methods:
FBS offers deposit and withdrawal via Credit/Debit card, Bank Wire Transfer, crypto wallets, local bank transfer, Neteller, Skrill, STICPAY, Rapid Transfer, STICPAY, Perfect Money, and more. With the exception of wire transfers, which take 3–4 business days, funds are available right away. Remember that banks typically charge for sending wire transfers outside of their own country.
Trading Conditions
Leverage
- Micro Account – 3000:1
- Cent Account – 1000:1
- Standard Account – 3000:1
- Zero Spread Account – 3000:1
- ECN Account – 500:1
- Crypto Account – 5:1
Minimum Deposit
- Micro Account – $5
- Cent Account – $1
- Standard Account – $100
- Zero Spread Account – $5000
- ECN Account – $1000
- Crypto Account – $1
Commission & Spreads
The traders who open ECN and Zero-Spread Accounts will pay commissions of $20 per lot and $6 per lot. Also, these accounts have the smallest spreads. The ECN account offers a floating spread starting at -1 point, while the Zero-Spreads Account has a fixed spread of exactly 0 points. The commission for holders of cryptocurrency accounts is 0.05% at the time of opening as well as closing the positions along with floating spreads that start from 1 pip.
Pros of Trading with FBS
- No commissions on deposits and withdrawals
- Fixed-rate trading
- Competitive zero-pip spreads
- Lightening-fast trade execution
- Cryptocurrency trading account
- Low minimum deposits
- High leverage up to 1:3000
- Free trading platform app
- Multilingual and hyperactive customer service
- No inactivity fee
- Easy and fast account opening
Cons of Trading with FBS
- Slim product portfolio
- Base currencies are not variable
- Forex CFD fee is average
- Does not support Minor Forex currencies
- No price alerts on the web trading platform
Conclusion
Overall, FBS has consistently worked hard to serve the industry and provide satisfaction to all its clients. It is a great broker for new traders because it excels in education, research, and customer service. Also, because of its features like algorithmic trading, it is ideal for experienced traders. It offers news and market analysis which includes both fundamental and technical analysis thus both newbies and professional traders can learn about the market significantly. Furthermore, it offers the well-known MetaTrader platform that has many features. Though by incorporating exclusive web and desktop platforms, they could improve even further.