FBS

Overview of FBS

FBS is a forex and CFD broker established in 2009. With its headquarters situated in Cyprus, the company maintains a global presence through offices in various countries such as China, Indonesia, Malaysia, and Thailand.

Catering to a diverse clientele, FBS offers an array of account types suitable for traders of varying experience levels and preferences. Whether you're a novice or a seasoned trader, FBS provides tailored account options to align with your requirements. The broker boasts an extensive selection of trading instruments encompassing over 40 currency pairs, precious metals, CFDs on stocks, and cryptocurrencies.

FBS equips its clients with the widely acclaimed MetaTrader 4 and MetaTrader 5 trading platforms, recognized as industry benchmarks. These platforms are accessible across desktop, web, and mobile devices, allowing traders to manage their accounts and execute trades on the move. Additionally, FBS introduces its proprietary mobile trading app, FBS App.

Is FBS Legit？

FBS is authorized and regulated by the Australia Securities & Investment Commission (ASIC) under regulatory license number: 426359, and the Cyprus Securities and Exchange Commission (CySEC) in Cyprus under regulatory license number:331/17.

This FBS is operated by FBS Markets Inc., and it is authorized and offshore regulated by the Financial Services Commission (FSC) in Belize under regulatory license number: IFSC/60/230/TS/17.

Market Intruments

FBS offers over 550 across 5 classes of popular and mainstream tradable assets, covering Currency Pairs, Metals, Energies, Indices and Shares. However, this broker does not support cryptocurrency and option trading.

Account Types

Regarding trading accounts, FBS offers three live account options:Standard, Cent and Pro.

The Standard account is the most popular choice, offering competitive spreads and no commission fees. It's ideal for both new and experienced traders who want to trade with a relatively low initial deposit and enjoy the benefits of FBS's trading conditions.

For those who prefer to trade with smaller amounts, the Cent account is a good option. It allows traders to trade with cents instead of dollars, so they can better manage their risks and test different trading strategies. The Cent account has the same features as the Standard account, but with smaller contract sizes.

FBS also offers a Pro account, which allows traders to trade with cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple. This account type is suitable for those who want to take advantage of the volatility of the cryptocurrency market and speculate on their price movements.

Each account type has its pros and cons. The Standard account offers more trading instruments and requires a higher minimum deposit, but it has competitive spreads and no commission fees. The Cent account is ideal for those who want to start trading in smaller amounts, but it has wider spreads and fewer trading instruments. The Crypto account has a lower minimum deposit yet wider spreads.

Demo Trading

To help traders become more comfortable with the broker's platforms and hone their trading abilities without putting any of their own money at risk, FBS provides free demo accounts with virtual monies. You can test out various trading methods with these accounts, and you can also see how fast the broker executes orders.

How to Open an Account？

Registering an account with FBS is a straightforward process that ensures a hassle-free start to your trading journey. Here's a step-by-step overview:

1. Visit FBS Website: Begin by visiting the FBS website.
2. Open an Account: Locate and click on the “Open an account” button on the website. This initiates the registration process.
3. Provide Personal Information: You will be prompted to enter some essential personal details, including your name, address, and email. This information helps establish your identity.
4. Financial Information: Additionally, FBS will require some financial information. You'll be asked about your trading experience and investment goals. This helps tailor your trading experience to your needs and objectives.
5. Application Submission: Once you've completed the necessary steps and filled in the required information, submit your application. FBS will receive your application and review it meticulously.
6. Identity Verification: FBS will verify your identity, a standard procedure to ensure the security of your account. This verification process typically takes a few business days.
7. Funding Your Account: After your application has been successfully processed and your identity verified, you can proceed to fund your trading account. FBS offers a range of convenient deposit methods, including credit/debit cards, bank transfers, and e-wallets.

Leverage

The maximum leverage offered to clients with FBS is 1:3000, which gives traders, especially experienced traders and scalpers great flexibilities in trading.

Spreads & Commissions (Trading Fees)

When it comes to choosing a spread that suits their trading strategy, FBS offers flexibility. Traders can select from various spread types, including floating spreads starting from as low as 0.2 pips, fixed spreads starting from 3 pips, and even the option to trade without any spread (fixed spread of 0 pips). The choice of spread type and its associated value is determined by the specific account type a trader uses.

To enhance precision and accuracy in trading, FBS provides up to 5-digit quotes on all account types. This high level of precision is especially crucial for traders who engage in short-term orders.

Here is a table comparing the spreads on EUR/USD, Gold, and Indices by FBS, eToro, Exness, and IC Markets:

Non-Trading Fees

Apart from trading fees, there may be other charges that traders should be aware of when using FBS. Here are some non-trading fees to consider:

• Deposit and Withdrawal Fees: FBS offers various payment methods for deposits and withdrawals, including credit cards, e-wallets, and bank transfers. While most of these methods are free, some may incur fees depending on the payment provider and currency used.
• Inactivity Fee: FBS charges an inactivity fee of $10 per month if the trading account has been inactive for 180 days or more. This fee is taken from the account balance and continues until the account becomes active again.
• Conversion Fees: If a trader deposits funds in a currency different from their trading account currency, FBS may charge a conversion fee to convert the funds to the trading account currency. The conversion fee varies depending on the payment method and currency.
• VPS Hosting Fees: FBS offers VPS hosting services for traders who want to use automated trading strategies. The fee for VPS hosting varies depending on the plan chosen and the billing cycle.

Trading Platform

FBS offers its clients a variety of trading platforms to choose from, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. Both platforms are widely used by traders all around the world, and they offer a range of advanced tools and features to help traders analyze the markets and execute trades.

MT4 is a widely-used trading platform that is known for its reliability and ease of use. It offers a range of advanced charting tools, customizable indicators, and the ability to use expert advisors (EAs) to automate trading strategies. MT4 is available in both desktop and mobile versions, making it accessible to traders on-the-go.

MT5 is an upgraded version of MT4 and offers even more advanced features and tools. It has a more advanced charting package, as well as more timeframes and order types available. MT5 also allows traders to trade on the exchange markets, in addition to Forex.

In addition to these two popular platforms, FBS also offers a proprietary trading platform called FBS App, which is designed for mobile trading. The FBS App is available for both Android and iOS devices and offers traders access to over 50 markets, including Forex, stocks, and commodities.

Deposit & Withdrawal

FBS offers multiple deposit and withdrawal methods, including:

As for withdrawals, there are also no fees charged by FBS, but certain payment methods may have their own fees, such as bank wire transfer. The processing time for withdrawals may vary depending on the payment method chosen, but FBS aims to process withdrawals as quickly as possible.

Customer Support

FBS offers customer support through various channels, including email: support@fbs.com, phone: +357 22 010970, +501 611 0594, live chat, and social media (Facebook, Instagram, YouTube, Telegram). Their website is also available in multiple languages, making it more accessible to traders worldwide. The broker's customer support team is available 24/7, and they have received positive reviews from traders for their quick and helpful responses.

Educational Resouces

FBS offers solid and rich educational resources for traders of all skill levels. These resources include:

1. Trading Courses: FBS provides free educational courses on various trading topics, including technical analysis, fundamental analysis, and risk management.
2. Webinars: The broker regularly hosts webinars on different aspects of trading. These webinars are conducted by experts in the field and cover a wide range of topics.
3. Video Tutorials: FBS offers a collection of video tutorials that cover various aspects of trading. These tutorials are designed to help traders learn the basics of trading as well as advanced strategies.
4. Economic Calendar: FBS provides an economic calendar that includes all major economic events that can impact financial markets. This helps traders stay informed about upcoming events and make informed trading decisions.
5. Trading Tools: FBS offers a range of trading tools, including an economic news feed, a currency converter, and a trading calculator. These tools can help traders make better trading decisions.
6. Market Analysis: FBS provides daily market analysis that covers major currency pairs, commodities, and indices. The analysis includes technical and fundamental analysis as well as trading recommendations.

Conclusion

Overall, FBS is an online forex and CFD broker that has a long-standing reputation for providing popular tradable instruments, flexible account types, and solid educational resources. Besides, FBS also provides a proprietary mobile app, and industry-leading trading platforms, such as the MetaTrader 4 and MetaTrader 5. However, this broker has higher spreads and commissions than some of its competitors, as well as some restrictions on the availability of specific account types in select regions. This way, it appears to work for both novice and experienced traders, but the latter are more likely to benefit.

FAQs

Is FBS a legit broker？

:Yes. It is licensed by the Australia Securities & Investment Commission (ASIC) and Cyprus Securities and Exchange Commission (CySEC), and offshore regulated by the Financial Services Commission (FSC) in Belize.

What trading instruments are available on FBS？

Forex currency pairs, metals, energies, stocks, and cryptocurrencies.

What trading platforms are available on FBS？

FBS offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, as well as a proprietary mobile trading app called FBS Trader.

Does FBS offer any educational resources for traders？

Yes, FBS offers a range of educational resources, including video tutorials, webinars, e-books, market analysis, and a comprehensive FAQ section on their website.

Is FBS a good broker for beginners？

FBS can be a good option for beginners due to its low minimum deposit requirement, flexible leverage options, and solid educational resources.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.