FBS Forex broker specializes in providing foreign exchange trading services, the company's official website https://fbs.eu/cabinet/registration?lang=en&account=secstand¤cy=EUR, the company's legitimate regulatory information CyprusCYSECMarket Making(MM), to enhance the security of the company's address 89 George A, Mairoza complex, block A, 1st Floor, Potamos Germasogeias, Limassol.
FBS Forex Broker
Basic information
Cyprus
2-5 years Regulated in Cyprus Market Making(MM) Suspicious Scope of Business Medium potential riskCompany profile
FBS
Overview of FBS
FBS is a well-known forex and CFD broker that has been operating since 2009. The company is headquartered in Cyprus and has offices in several countries worldwide, including China, Indonesia, Malaysia, and Thailand.
FBS has a wide range of account types, which cater to traders of all levels and preferences. Whether you're a beginner or an experienced trader, FBS has an account that will suit your needs. The broker also offers an impressive range of trading instruments, including over 40 currency pairs, precious metals, CFDs on stocks, and cryptocurrencies.
FBS offers its clients the MetaTrader 4 and MetaTrader 5 trading platforms, which are widely regarded as the industry standards. These platforms are available for desktop, web, and mobile devices, allowing traders to access their accounts and trade on the go. FBS also offers its proprietary mobile trading app, FBS Trader, which is available for both iOS and Android devices.
FBS is committed to providing excellent customer support, with multilingual support available 24/7 via phone, email, and live chat. The broker also offers a range of educational resources, including trading courses, video tutorials, webinars, and market analysis, to help traders improve their skills and knowledge.
Is FBS legit or a scam？
FBS is regulated by the Cyprus Securities and Exchange Commission (CySEC), which is a respected regulatory body in the European Union. This means that FBS must adhere to strict guidelines to ensure the safety and security of its clients' funds. Additionally, FBS is also registered with other regulatory bodies such as the International Financial Services Commission (IFSC) and the Securities Commission of The Bahamas.
Market Intruments
FBS offers a wide range of trading instruments, including Forex currency pairs, stocks, commodities, indices, and cryptocurrencies. Forex traders can access a total of 40 currency pairs, including major, minor, and exotic pairs. In addition to currency pairs, traders can also access CFDs on various global stocks such as Amazon, Apple, and Facebook, as well as commodities like gold, silver, and oil. Furthermore, FBS offers CFDs on several popular indices, including the S&P 500, NASDAQ, and the FTSE 100. Finally, traders can also access cryptocurrency CFDs on Bitcoin, Ethereum, Litecoin, and Ripple. Overall, FBS offers a diverse range of trading instruments for traders to choose from.
| Pros | Cons |
| Wide range of tradable instruments including forex, stocks, metals, energies, and cryptocurrencies | Limited selection of stocks and cryptocurrencies compared to some other brokers |
| Availability of ECN accounts with competitive spreads and fast execution | Higher spreads on standard accounts |
| Access to leverage of up to 1:3000, which can increase potential profits | High leverage can also increase potential losses and risk |
| Option to trade using the popular MetaTrader 4 and MetaTrader 5 platforms | Proprietary trading platform not as widely used and may have less available resources and support |
| Availability of Islamic accounts for traders who follow Sharia law | Limited educational resources specifically tailored to some of the instruments offered |
| Partnership programs for introducing brokers and affiliates | Limited availability of some instruments in certain regions |
Account Types
FBS offers a range of account types to cater to the different needs and trading styles of its clients.
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 Crypto 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.
| Pros | Cons |
| Multiple account options to suit different trading needs | Limited leverage options for certain account types |
| Low minimum deposit requirements for Cent and Standard | Some account types may have higher spreads and commissions |
| Availability of swap-free accounts for Muslim traders | Limited number of cryptocurrency options for Crypto accounts |
| Access to the MetaTrader 4 and MetaTrader 5 platforms | |
| Option to use the FBS CopyTrade social trading platform |
Demo Trading
FBS offers demo trading accounts for traders to practice their skills and test out the broker's trading platforms without risking real money. The demo accounts are free to use and come pre-loaded with virtual funds, allowing traders to simulate real market conditions.
One of the main advantages of using FBS's demo trading accounts is that they allow traders to get a feel for the broker's trading conditions and execution speeds, as well as to test out different trading strategies and techniques. This can be especially helpful for new traders who are still learning the ropes and want to gain more confidence before investing real money.
Another advantage of using FBS's demo trading accounts is that they can be accessed from anywhere in the world with an internet connection, making them a convenient option for traders who may not have access to a physical trading desk or who prefer to trade on the go.
However, it's important to note that there are some limitations to using demo trading accounts. For example, since the funds are virtual, there is no real risk involved, which can sometimes lead to traders taking on more risks than they would if they were using real money. Additionally, since the demo trading accounts are not linked to real market conditions, the trading experience may not be entirely accurate.
How to open an account？
Opening an account with FBS is pretty straightforward. All you need to do is go to their website, click on the “Open an account” button, and follow the steps.
Then, you'll be asked to provide some personal information, such as your name, address, and email, as well as some financial information, like your trading experience and investment goals.
Once you've submitted your application, FBS will review it and verify your identity. This usually takes a few business days. After that, you'll be able to fund your account and start trading. FBS offers a variety of deposit methods, including credit/debit cards, bank transfers, and e-wallets.
If you're not ready to trade with real money yet, you can always open a demo account with FBS. This will allow you to practice trading without risking any of your own funds. The demo account comes with virtual funds that you can use to trade any of the instruments offered by FBS. It's a great way to get familiar with the trading platform and test your trading strategies.
Leverage
The maximum leverage offered to retail clients with FBS is 1:30. This is in compliance with the regulations set forth by regulatory bodies like CySEC and the European Securities and Markets Authority (ESMA) to protect traders from the risks associated with high leverage.
However, professional clients with FBS have access to higher leverage up to 1:500, which can be beneficial for those who have a deeper understanding of the markets and are comfortable with taking on more risks.
It's important to note that leverage can magnify both profits and losses. While high leverage can lead to significant gains, it can also result in significant losses if trades go against you. That's why it's important to have a solid understanding of leverage and risk management before engaging in high-leverage trading.
Spreads & Commissions (Trading Fees)
FBS offers variable spreads across all its account types, which means that the spread you pay on any given trade will depend on market conditions and liquidity. This is a common practice among brokers, as it allows them to pass on market fluctuations to their clients.
As for commissions, it depends on the account type. FBS offers commission-free trading for its Standard and Cent accounts, which is great for traders who prefer to pay only for the spread. For its ECN account, however, FBS charges a commission of $6 per lot, which is at the high end of the industry standard.
Here is a table comparing the spreads on EUR/USD, Gold, and Indices by FBS, eToro, Exness, and IC Markets:
| Broker | EUR/USD Spread | Gold Spread | Indices Spread |
| FBS | 0.5 pips | From 0.3 pips | From 0.3 pips |
| eToro | 1 pip | From 45 pips | From 75 pips |
| Exness | 0.1 pips | From 25 cents | From 0.8 pips |
| IC Markets | 0.1 pips | From 20 cents | From 0.5 pips |
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 Trader, which is designed for mobile trading. The platform is available for both Android and iOS devices and offers traders access to over 50 markets, including Forex, stocks, and commodities.
| Pros | Cons |
| MetaTrader 4 is a widely used and popular platform with a user-friendly interface and a range of customizable features. | FBS Trader is only available for mobile devices, which may be inconvenient for some traders who prefer to use a desktop platform. |
| MetaTrader 5 is available for FBS Trader, offering advanced features such as a built-in economic calendar and market analysis tools. | The WebTrader platform may be less customizable than MetaTrader 4, which could be a drawback for more experienced traders. |
| The WebTrader platform is browser-based and allows traders to access their accounts from anywhere with an internet connection. | Copy trading can involve a high level of risk if the traders being copied are not experienced or knowledgeable. |
| FBS CopyTrade allows traders to copy the trades of experienced traders, which can be beneficial for those who are new to trading or looking to diversify their portfolios. |
Deposit & Withdrawal
FBS offers a variety of deposit and withdrawal methods, including:
Deposit Methods:
Bank Wire Transfer
Visa/MasterCard
Skrill
Neteller
Local banks in certain countries
Withdrawal Methods:
Bank Wire Transfer
Visa/MasterCard
Skrill
Neteller
Local banks in certain countries
There are no deposit fees charged by FBS, and most of the deposit methods have no additional charges. However, some e-wallets may charge a fee for transactions.
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.
It's worth noting that before making a withdrawal, FBS may require additional verification from the account holder to ensure security and prevent fraudulent activities. This may include submitting personal identification documents and proof of address.
Customer Support
FBS offers customer support through various channels, including email, phone, live chat, and social media. 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. Additionally, FBS offers a range of educational resources, including articles, webinars, and video tutorials, to help traders improve their knowledge and skills.
One potential downside of FBS's customer support is that they do not offer phone support in all countries. However, their live chat and email support are available to all traders regardless of their location.
Educational Resouces
FBS offers a range of educational resources for traders of all skill levels. These resources include:
Trading courses: FBS provides free educational courses on various trading topics, including technical analysis, fundamental analysis, and risk management.
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.
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.
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.
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.
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
FBS is a well-established online forex and CFD broker that offers a wide range of trading instruments, account types, and educational resources. The broker is regulated by reputable authorities and provides excellent customer support services to its clients. FBS also offers various trading platforms, including the popular MetaTrader 4 and 5, as well as a proprietary mobile application, FBS Trader.
While FBS has several advantages, such as a diverse range of trading instruments and low minimum deposit requirements, it also has some drawbacks, such as higher spreads and commissions than some of its competitors, as well as some limitations on the availability of certain account types in specific regions.
FAQs
Q: Is FBS a regulated broker？
A: Yes, FBS is a regulated broker. It is licensed by the International Financial Services Commission (IFSC) in Belize and the Cyprus Securities and Exchange Commission (CySEC).
Q: What trading instruments are available on FBS？
A: FBS offers a variety of trading instruments, including forex currency pairs, metals, energies, stocks, and cryptocurrencies.
Q: What are the account types available on FBS？
A: FBS offers three main account types - Standard, Cent, and Zero Spread. There is also an ECN account type available for professional traders.
Q: What is the minimum deposit required to open an account with FBS？
A: The minimum deposit required to open a Standard or Cent account with FBS is $1.
Q: What leverage does FBS offer？
A: FBS offers flexible leverage options, ranging from 1:1 up to 1:3000 for professional traders. The maximum leverage for retail clients is 1:30.
Q: What trading platforms are available on FBS？
A: FBS offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, as well as a proprietary mobile trading app called FBS Trader.
Q: What are the deposit and withdrawal methods available on FBS？
A: FBS offers a variety of deposit and withdrawal methods, including bank wire transfer, credit/debit cards, electronic payment systems such as Skrill, Neteller, and Perfect Money, and local payment methods.
Q: Does FBS offer any educational resources for traders？
A: Yes, FBS offers a range of educational resources, including video tutorials, webinars, e-books, market analysis, and a comprehensive FAQ section on their website.
Q: What are the customer support options available on FBS？
A: FBS offers customer support via live chat, phone, email, and social media channels. The support team is available 24/7 to assist traders with any questions or issues they may have.
Q: Is FBS a good broker for beginners？
A: FBS can be a good option for beginners due to its low minimum deposit requirement, flexible leverage options, and educational resources. However, traders should always do their own research and due diligence before choosing a broker.