Registered in South Africa Regulated by No effective regulation at this time Year(s) of establishment 1-2 years Trading instruments Indices, commodities, bonds, forex Minimum Initial Deposit R100 Maximum Leverage 1:1000 Minimum spread 0.0 pips onwards Trading platform MT4: Desktop Terminal, Mobile IOS, Mobile Android, WebTerminal Widget Deposit and withdrawal method - Bank wire transfer- Ozow- Virtual Pay- Skrill Customer Service 24/7, Email, phone number, address, live chat Fraud Complaints Exposure No for now Negative balance protection Yes It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader. In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation. Pros and cons of FBK Markets Pros: Wide range of account types to choose from, allowing traders to find one that suits their needs and preferences. High maximum leverage of up to 1:1000, which can offer significant trading opportunities for those who can manage the associated risks. Variety of deposit and withdrawal methods, including popular options like bank wire transfer and Skrill, as well as local options like Ozow and Virtual Pay. Customer support available 24/7 through multiple channels, including live chat, email, and phone. Educational resources available to help traders improve their knowledge and skills. Cons: Limited range of trading instruments compared to some other brokers, with only forex, indices, commodities, and bonds offered. Zero spread account option incurs commissions, which may not be ideal for traders who prefer the simplicity of spread-only pricing. MT4 is the only platform offered, which may not suit traders who prefer alternative trading platforms. No information provided on regulatory oversight, which may deter some traders who prefer to trade with regulated brokers. What type of broker is FBK Markets？ Advantages Disadvantages FBK Markets offers tight spreads and fast execution due to its Market Making model. As a counterparty to its clients' trades, FBK Markets has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients. FBK Markets is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, FBK Markets acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that FBK Markets has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with FBK Markets or any other MM broker. General information and regulation of FBK Markets FBK Markets is a South African-based forex and CFD broker founded in 2018. The company offers trading services for various financial instruments, including forex, stocks, indices, and commodities. FBK Markets operates using the popular MetaTrader 4 platform and provides several account types with competitive trading conditions, including high leverage and tight spreads. The broker also provides a range of educational resources and has multiple customer support channels available. In the following article, we will analyze the characteristics of this broker in all its dimensions, providing you with easy and well-organized information. If you are interested, read on. Market instruments FBK Markets offers a range of trading instruments that can provide traders with diversification opportunities and high liquidity, particularly in the forex market. However, the limited number of available instruments may not suit all traders, and the high level of risk associated with these instruments should be taken into account. It is essential for traders to thoroughly understand the risks involved and develop a comprehensive trading strategy. Spreads and commissions for trading with FBK Markets Advantages Disadvantages Low spreads starting from 0 pips Commission charged on some accounts Choice of accounts with zero commissions Limited information on trading costs Zero spread account available No information on swap fees or overnight costs Tight spreads on ECN account Limited account options for specific needs FBK Markets offers a variety of trading accounts with competitive spreads, with the option of zero commissions on some accounts. The standard account has spreads as low as 0.5 pips and zero commissions, while the zero spread account offers spreads as low as 0 pips with a commission of $9. The bonus 100 account has spreads as low as 0.5 pips and zero commissions, and the ECN account has tight spreads and a commission of $4. For those looking to trade with smaller amounts, the micro account offers spreads as low as 0.5 pips and zero commissions. However, there is limited information available on trading costs such as swap fees or overnight costs, and there is no guarantee of pricing accuracy or stability. Additionally, some accounts do have commission charges, and there is a limited selection of account options for specific needs. Trading accounts available in FBK Markets Advantages Disadvantages Multiple account types to suit various needs No account types for professional traders Different base currencies to choose from Limited account types available Low spreads and zero commissions available Limited information about account types on the website Negative balance protection offered on all accounts Limited leverage options for traders Low minimum deposit requirement of R100 No Islamic account option for Muslim traders FBK Markets offers a range of account types to cater to traders with different trading needs. The available account types include Standard, Zero Spread, Bonus 100, ECN, and Micro accounts, with different features such as spreads, commissions, and minimum deposit requirements. The base currencies available for all account types are ZAR, USD, and GBP. All account types offer negative balance protection, which ensures that traders do not lose more than their account balance. However, FBK Markets does not offer any account types for professional traders, and there is limited information available about the available account types on the website. Additionally, the leverage options are limited for traders. Despite these limitations, the low minimum deposit requirement and low spreads and commissions offered make FBK Markets an accessible and cost-effective option for retail traders. Trading platform(s) that FBK Markets offers Advantages Disadvantages MT4 is a popular and widely-used platform in the forex industry Some traders may prefer newer or more advanced platforms MT4 offers a wide range of technical analysis tools and customizable features The platform may be overwhelming or confusing for beginners MT4 is available on various devices and operating systems, including desktop and mobile The platform may experience technical glitches or downtime, causing inconvenience for traders MT4 allows for the use of automated trading strategies through Expert Advisors The platform may not offer all the features and functionalities that some traders may require for their trading strategies MT4 is a highly recognized trading platform in the forex industry, and FBK Markets provides it to its clients on various devices and operating systems, including desktop and mobile. The platform offers a wide range of technical analysis tools and customizable features, making it a favorite among traders who prefer a high degree of control over their trading. Additionally, MT4 allows for the use of automated trading strategies through Expert Advisors, making it attractive to traders who prefer algorithmic trading. However, some traders may prefer newer or more advanced platforms, and beginners may find the platform overwhelming or confusing at first. The platform may also experience technical glitches or downtime, causing inconvenience for traders. Finally, the platform may not offer all the features and functionalities that some traders may require for their trading strategies. Maximum leverage of FBK Markets Advantages Disadvantages High leverage allows for larger potential profits with smaller initial investments High leverage also increases the risk of substantial losses Offers tiered leverage system based on account balance, allowing for more control over leverage used Higher leverage may lead to overtrading and emotional decision-making Maximum leverage of 1:1000 allows for greater flexibility and more options for traders Inexperienced traders may be tempted to use high leverage without understanding the risks involved Low minimum deposit requirement of R100 allows for easy access to high leverage trading High leverage may lead to margin calls and the potential loss of more than the initial investment. FBK Markets offers a maximum leverage of up to 1:1000, which is significantly higher than what many regulated brokers offer. The company has a tiered system in place based on account balance, which provides more control over the leverage used. However, high leverage can be a double-edged sword, as it increases the potential for both profits and losses. While a higher leverage ratio may offer traders more flexibility, inexperienced traders may be tempted to use high leverage without fully understanding the risks involved. Overall, traders should exercise caution when using high leverage and always consider their risk tolerance and trading strategy before making trades with significant leverage. Deposit and Withdrawal: methods and fees Advantages Disadvantages Multiple deposit and withdrawal methods available Limited payment options compared to other brokers Low minimum deposit and withdrawal amount No information provided on withdrawal processing time Immediate deposit allocation once cleared in company's bank account No e-wallet options besides Skrill No deposit fees Negative balance protection FBK Markets offers a range of deposit and withdrawal methods to cater to the needs of its clients. Traders can choose from bank wire transfer, Ozow, Virtual Pay, and Skrill to fund their accounts, with a minimum deposit and withdrawal amount of R100. One advantage of using FBK Markets is that there are no deposit fees, and immediate transfers are allocated once cleared in the company's bank account. However, the broker has limited payment options compared to other brokers and does not offer e-wallet options besides Skrill. Additionally, there is no information provided on the withdrawal processing time, which can be inconvenient for traders. Nevertheless, FBK Markets provides negative balance protection to ensure that traders do not lose more than their account balance. Educational resources in FBK Markets Advantages Disadvantages Comprehensive educational resources No live webinars or interactive sessions Available in different formats Limited in-depth analysis and research materials Free access to all traders No structured courses or certifications Cover various trading topics May not be sufficient for advanced traders Easy to navigate and understand Lack of personalization or tailored content FBK Markets offers a range of educational resources, including videos and eBooks, which are available in different formats. These resources cover various trading topics and are comprehensive, making it easy for traders to navigate and understand the content. The educational resources are also free and accessible to all traders, regardless of account type or trading volume. However, there are some limitations to these resources, including the lack of live webinars or interactive sessions, limited in-depth analysis and research materials, and no structured courses or certifications. Additionally, the content may not be sufficient for advanced traders, and there is a lack of personalization or tailored content. This company also has its official YouTube channel. Here is a link of one of its videos. Customer service of FBK Markets Advantages Disadvantages 24/7 live chat support No support in languages other than English Multiple communication channels No FAQ section on the website Physical address available Limited phone support availability WhatsApp support available Prompt response times FBK Markets offers multiple communication channels for customer support, including 24/7 live chat, email, WhatsApp, and social media platforms like Facebook, Twitter, and Instagram. The broker also provides a physical address for customers to visit. The advantage of having multiple channels for customer support is that it allows customers to choose a convenient means to get in touch with the company. Additionally, the availability of 24/7 live chat support and WhatsApp support provides customers with prompt responses to their queries. However, a disadvantage of FBK Markets' customer care dimension is the limited availability of phone support, as well as the absence of an FAQ section on the website. Also, the support services are only offered in English, which may pose a challenge for non-English-speaking customers. Conclusion FBK Markets is a South African-based forex broker that offers a range of trading accounts and platforms, educational resources, and customer support options. The company provides traders with a wide range of financial instruments to trade, including indices, commodities, bonds, forex. FBK Markets offers competitive trading conditions, such as tight spreads, high leverage, and low deposit requirements, which can appeal to both novice and experienced traders. However, the limited number of platforms and payment options, as well as the lack of regulation by a reputable financial authority, can be seen as potential drawbacks. Overall, FBK Markets can be a suitable option for traders seeking a low-cost, high-leverage trading environment, but it is important to conduct further research and due diligence before investing in this company. Frequently asked questions about FBK Markets Question: What is FBK Markets？ Answer: FBK Markets is an online Forex and CFD broker that provides trading services for indices, commodities, bonds and forex pairs. Question: Is FBK Markets a regulated broker？ Answer: No, FBK Markets is not a regulated broker. Question: What types of accounts are available in FBK Markets？ Answer: FBK Markets offers five types of trading accounts: Standard, Zero Spread, Bonus 100, ECN, and Micro accounts. Question: What is the minimum deposit in FBK Markets？ Answer: The minimum deposit in FBK Markets is R100. Question: What is the maximum leverage offered by FBK Markets？ Answer: FBK Markets offers a maximum leverage of up to 1:1000, depending on the account balance. Question: What platforms are available in FBK Markets？ Answer: FBK Markets offers four trading platforms: MT4 Desktop Terminal, MT4 Mobile for iOS, MT4 Mobile for Android, and MT4 WebTerminal Widget. Question: How can I contact FBK Markets customer support？ Answer: FBK Markets customer support is available via live chat 24/7, email, phone, WhatsApp, and social media platforms such as Facebook, Twitter, and Instagram.