FBS Forex Broker Review
FBS Forex Broker Review
FBS is a reputable forex broker with over a decade of experience. It offers a great range of account types, quality research tools, and extensive educational materials. Unfortunately, however, FBS does not accept clients from the United States.
Our FBS review team found the broker to trustworthy and accomplished. Some of the available account types have very low minimum deposit limits, making this broker perfect for beginner traders. FBS also offers great bonuses and a rewarding loyalty program.
As with all of our broker reviews, we’ve reached our conclusions on FBS through in-depth research and extensive testing. You can trust us to never rely on third-party opinions, as our objective is to ensure that you have the information you need to choose the best broker for you.
Read on to learn everything you need to know before becoming an FBS trader.
- Extensive educational materials including webinars and video guides
- Excellent research tools make it the best broker for trader development
- Low minimum deposit limits and fees
- Wide variety of account types for all types of traders
- U.S. clients are not accepted
Discover more about the company
FBS Markets Inc. was founded in 2009 and the company has grown ever since. FBS has earned itself an excellent reputation thanks to the services it provides, all of which you can learn more about in this review.
FBS has offices in several countries in Asia and the broker offers its services in 190 countries worldwide, working with over 13,000,000 clients. The brand claims that, on average, over 7,000 FBS accounts are opened daily.
Since its launch, the company has received a wide range of international accolades and rewards, including:
- Best FX IB Program
- Best Broker in Asia-Pacific Region 2015
- Best Forex Trading Account 2018
- Best Forex Broker Asia 2018
- Best Investor Education 2017
- Best Forex Broker Europe 2019
Rigorous regulation and outstanding investor protection
Our FBS review team found that the broker is regulated globally, by two different well-respected authorities. For traders outside of the EU, FBS is regulated and authorized by IFSC (the International Financial Services Commission of Belize).
Clients from within the European Union will work with Tradestone Ltd, which is the EU arm of the FBS brokerage business. This is regulated by CySec, which is generally considered to be one of the most scrupulous financial supervisory bodies in the world.
As per regulations, FBS online forex broker keeps the funds of its clients in separate accounts. This means that your money is never used for operational purposes and, if the broker experiences losses or becomes insolvent, your capital will be unaffected.
Clients in the EU enjoy a further layer of protection thanks to the Investors’ Compensation Fund. The ICF will compensate you with up to 20,000 EUR if FBS is unable to pay you your money for any financial reason, including bankruptcy.
All FBS online properties, including their websites and platforms, are also encrypted using Rapid SSL. The sheer amount of protection you have as a trader at FBS is impressive and shows that the online broker cares about your safety.
Benefit from an extensive range of account types
FBS offers its international clients a wide range of account types, including an Islamic account which is sharia-compliant. All accounts offer traders 35 currency pairs, 4 cryptocurrencies, 32 stocks, and 3 CFDs.
At FBS you can choose between the following account types, depending on your location:
- Cent account – This is perfect for beginners as it allows traders to gain real experience, with minimal risk. The minimum deposit is only $1 and leverage is 1:1000. Minimum order volume is 0.01 and floating spreads start at 1 pip. This account also allows you to use all the FBS broker robots and strategies, without restriction.
- Micro account – With a micro account, traders can enjoy the advantages of fixed spreads and STP trading. There is also leverage of 1:3000 and spreads fixed at 3 pips.
- Standard account – If you have a little more experience with forex trading, you may want to opt for a standard account. This account’s focus is mainly on improving profits and reducing risk, with the introduction of reduced floating spreads. This minimum deposit for this account is $100, and leverage is 1:3000.
- Zero spread account – The minimum deposit for this account is $500, which makes it an option for the more serious trader. As the name implies, trades can be executed with no spread, which means you can learn more about market conditions and how they affect trades. Many professional traders find this account very useful. A commission is charged at $20 per lot.
- Unlimited account – This is a little different than the other accounts, as it is an STP account. The minimum deposit is $500, and the floating spread starts at 0.2 pip. The benefit of this account is that there are no restrictions on open positions and pending orders, so you are free to trade as you please.
- ECN account – The ECN account has a minimum deposit of $1,000, with a floating spread from 1 pip and a leverage up to 1:500.
If you’re using FBS from a country within the European Union, you will be more limited in your choice of account types. EU customers can choose between a Cent account or a Standard account, however due to EU regulations, there are some differences in the minimum deposit limits and leverage:
- Cent account – This account has a minimum deposit of 10 EUR, while leverage is 1:30. Traders can open a maximum of 200 positions.
- Standard account – The minimum deposit is 100 EUR. Leverage is 1:30 and traders can have a maximum of 200 open positions and pending orders.
The FBS online forex broker also offers demo versions of all their accounts. They can be funded with however much virtual money you desire, up to a maximum of $1 million.
Make a profit with social trading
FBS also offers two social trading accounts, CopyTrade for Investors and CopyTrade for Traders.
CopyTrade for Investors is a social trading account that allows you to copy the trades of professional traders. Every time these traders make a profit, you’ll also benefit. This makes the account perfect for beginners as you can trade profitably whilst learning from some of the best traders around.
The CopyTrade for Traders account is aimed at professional traders who want to help those just starting out. By becoming a CopyTrade trader, you will provide others with the opportunity to profit from your knowledge and earn additional commissions for every person you help.
Pay competitive spreads and low commissions
The costs you will incur as a trader with FBS differ based on the type of account. The costs are as follows:
- Cent account – floating spread starting at 1 pip
- Micro account – a fixed spread of 3 pips
- Standard account – floating spread starting at 1 pip
- Zero spread account – Commission starts at $20 per lot
- Unlimited account – floating spread starting at 0.2 pip
- ECN account – floating spread starting at 1 pip
FBS doesn’t charge any inactivity fees on their international accounts. Your account will be disabled after 90 days of inactivity, but you can simply contact the broker to reopen it. Unfortunately, if you are an EU trader, you will be charged 10 EUR per year, if your account is inactive for more than 180 days.
Enjoy a wide variety of payment methods
During our review of FBS forex broker, our experts found that you can choose from a wide range of payment methods to fund your account. At FBS you can deposit via Visa, Neteller, Stic Pay, Skrill, Perfect Money, and Bitwallet.
In terms of fees, deposits are free, except for Stic Pay. If you use this payment method, you will have to pay a commission of 2.5% of the amount plus $0.3.
Deposits, regardless of payment method, are made instantly. It should be noted, though, that you can only deposit EUR and USD with Visa, Neteller, and Skrill. In addition, Bitwallet can only be used for JPY.
All withdrawals incur fees as follows:
- Visa – $1 per withdrawal
- Neteller – 2% of withdrawal amount with a minimum of $1 and a maximum of $30
- Stic Pay – 2.5% + $0.3 per withdrawal
- Skrill – 1% + $0.32 per withdrawal
- Perfect Money – 0.5% of the withdrawal amount
- Bitwallet – commission may apply but it isn’t specified
Other than Bitwallet, which is instant, withdrawals usually take around 20 minutes to be completed. All cash-out requests have a maximum waiting time of 48 hours, but it’s rare that you’ll have to wait this long.
European Union clients are offered slightly different payment methods. If you are in the EU, you can deposit via Visa, MasterCard, Skrill, Neteller, and Wire Transfer. Deposits incur no commissions and are instant, except for wire transfers which can take between 3 and 4 business days.
EU clients don’t have to pay any withdrawal fees. Visa and MasterCard withdrawals are processed the same business day, whereas wire transfers take 48 hours. Skrill and Neteller are your fastest withdrawal options, taking around 20 minutes.
Plus good news for European traders! In November 2019 FBS launched new instant online payment method ‘Rapid Transfer’ supported by over 170 European banks, this method enables fast and cost effective deposits and withdrawals.
Benefit from advantageous bonuses
When we conducted our FBS broker review, we discovered that they offer a series of generous bonuses to international clients.
Some of the bonuses at FBS are designed specifically for beginners, allowing you to start learning about forex trading without having to risk your own money. FBS is also the only firm to offer clients a cashback service on every lot traded, including losing trades.
FBS also boasts a generous online forex loyalty program. Once clients have deposited $10,000 and traded 50 lots, they become VIP clients. A VIP client will gain several benefits, including their own account manager, priority in processing withdrawals and deposits, VIP gifts, and a VIP client certificate.
Besides cash bonuses, the FBS online forex broker also holds events for their clients in various locations around the world. They also run trading contests frequently with very generous prizes.
Expect popular trading platforms and a user friendly site
In our review of FBS forex broker, we found their website to be incredibly easy to navigate. Everything is well-organized by category, making it simple and quick to find all the information you need.
The registration process is also relatively simple. During this process, you will be asked various questions to determine how much trading experience you have. This information is then used to recommend the best account type for your level.
In terms of trading tools, FBS offers the standard economic calendar as well as forex news, daily market analysis, and a video channel with frequent updates on the state of the markets.
They also have a series of forex calculators that you can use to determine how much you can make from trading and what effect different variables will have on that income.
FBS uses the industry-leading trading platform MetaTrader 4. MetaTrader 5 is also available for those who wish to trade stocks, and both platforms allow for trading robots. They also have a proprietary platform designed specifically for mobile traders.
Enjoy great mobile trading options
The FBS website is fully mobile responsive, making it easy to navigate on any device. You will have complete functionality from your phone or tablet, which includes being able to register with the broker and making deposits and withdrawals.
FBS traders can use the mobile versions of MetaTrader 4 and MetaTrader 5 should they wish. However, our FBS forex broker review team were specifically impressed by the company’s proprietary system designed for mobile traders.
The FBS Mobile Personal Area includes a dashboard where you can gain an overview of all your active accounts. You can also analyze various statistics to become a better trader.
Take advantage of extensive education and training
While conducting our FBS review 2019, we were very pleased to see that this broker offers extensive training materials and educational content.
The FBS Forex Guidebook is a comprehensive course organized by experience level. The course is made up of articles written by professional traders. which cover everything you need to know about trading at each level. It is available on the website and accessible to everyone, even if you haven’t signed up for an account yet.
They also offer a section with tips for traders, which covers various aspects of forex trading, including specific trading strategies.
FBS online broker also offers a series of videos, though they are mostly targeted at beginners as an introduction to forex. They also have videos to help with registration, navigation of the website, and more.
This broker also offers live free webinars periodically, as well as free in-person seminars in locations all over the world. You’ll also find a daily market analysis written by professional analysts.
All these educational materials make the FBS online forex broker perfect for both beginner and advanced traders. When you also consider the free demo trading FBS offers, you can see that the broker values it’s traders and wants them to get the most out of their experience.
Get help from attentive customer support staff
FBS offers excellent customer support, which is available via email, phone, and fax. Traders can also contact the broker via live chat, which is available 24/7.
If you prefer to speak over the phone, you can also use the FBS call back system. This allows you to simply tell the broker what time you want them to get in touch and they will.
Overall, our FBS review team found the customer support staff to be knowledgeable and attentive. We also loved the fact that the broker is very visible on social media, as this shows they can be trusted.
- facebook.com/FBS Markets Inc
Place your faith in FBS as a trusted forex broker
As you can see from our comprehensive FBS review 2019, this is a broker which delivers on choice. At every turn, FBS offers its traders a whole host of options, allowing you to customize your experience and really get the most out of their services.
If you’re new to forex trading, signing up to FBS is a wise move. The extensive educational materials, demo accounts, and social trading options truly make FBS online forex broker ideal for beginners.
Register now to learn, practice your new skills, and emulate professionals while still making a profit.