FBS Review
With this FBS Review we want to find out if FBS is really one of the best Forex Brokers of 2019.
We conducted an in-depth review to find out the answer and bring it to you! Recently has been included by Engine Forex among the Best Islamic Forex, Social Trading Forex, Best Forex Brokers for Crypto, Best Gold CFD Trading Brokers.
Now here’s a real surprise broker that you may not have come across yet!
Founded in 2009 and headquartered in Belize, this true ECN and STP broker is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) and has a lot to offer.
They have already won tons of awards, have clients in over 120 countries throughout the world and have established a sound customer base that currently exceeds 5 million traders.
FBS is extremely well represented in important regions across Asia and has offices in China, Thailand, Turkey, Malaysia, Indonesia, Lao, Myanmar and Egypt.
Clients are entitled to receive all sorts of promotions and trade Forex, metals, CFDs and four of the major cryptocurrencies: Bitcoin, Ethereum, Litecoin and Dash.
- Trading Platform: MetaTrader
- Head Office: Belize
- Founded: 2009
- Reviews: 4.4 - 43 Reviews Trust Pilot
- Leverage: 3000:1
- Execution Servers: LD5
- Broker Type: ECN
- Negative Protection: No
- Trading Options: Forex, CFDs, Crypto
Our Rating: 7.8
Trading Conditions
| Max Leverage: | 3000:1 |
| Platform: |   |
| Min Deposit: | $1 |
| Spread: | From 0.0 Pips |
| Cuts out Dealing Desk: | Yes |
Methods of deposit and offers
| Deposit / Withdraw: |          |
| Welcome offer: | $123 free and 100% deposit bonus on all deposits |
| Rebates Engine Forex: | Coming soon! |
SECURITY
FBS is the trading name of FBS Markets Inc., Parallax Incorporated, Tradestone Limited and is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) and the International Financial Services Commission (IFSC).
Deposit insurance of up to 100%
For most account models, the broker offers Forex traders so-called deposit insurance. In this way, traders secure the amount of their deposit at 100 per cent. For this purpose, a certain number of positions must be traded. For example, if you want to hedge a deposit of 100 US dollars, you will need 12 trades. In this way, traders can protect themselves against losses of their trading capital without additional investment.
In our FBS Forex broker review, we found that dealing with FBS can be considered to be safe and secure. Overall, the company goes a long way to ensure transparency and the safety of its clients’ money.
FBS offers negative balance protection, as well as most common risk management tools such as various stop loss order functions to help limiting the high risks in trading.
Spreads Comparison
CHARGES AND MARGINS AT FBS
FBS offers a choice between six unique trading account types, each of which offers distinct advantages and features. Clients can select from MT4 and MT5, true ECN or STP account options.
Minimum deposits range from $1-1000 with a huge maximum leverage of up to 3000:1.
All account types, except its ECN account, support the following trading instruments: 35 currency pairs, 4 metals, 2 CFDs and 4 cryptocurrencies. The ECN account focusses solely on Forex trading and allows users to trade 25 currency pairs.
Leverage is up to 3000:1 on the Micro, Standard and Zero Spread accounts, up to 1000:1 on the Cent, and up to 500:1 on the Unlimited and ECN account options.
FBS only charges commissions on two of its account types: The Zero Spread (from $20 per lot round-turn) and ECN ($6 per lot round-turn) accounts.
Here is a quick overview of all six account types and it’s main characteristics:
- Standard Account: The FBS Standard Account can be accessed from a deposit of at least $100. The maximum leverage is selectable up to 3000:1 and the fees are calculated over a variable spread (from 0.5 pips).
- Cent Account: An account from $1 deposit for trading small amounts. There are even cent lots available for trading. The maximum leverage is 1000:1 and the average spreads start from 1 pip.
- Micro Account: An account from $5 with fixed spreads. So the fees are 100% clear for the trader before. The spreads start at 3 pips, and the leverage goes up to 3000:1.
- Zero Spread Account: With this account, there is no spread (fixed at zero spread) applied, but a commission of minimum $20 per lot R/T has to be paid. This is an FBS account option that can be accessed with deposits from $500. However, a $20 commission per lot is quite steep.
- ECN Account: Direct access to interbank trading with no spread (from -1 pip). A commission of $6 per lot is due, and the maximum leverage can be set to 500:1. You get a direct market execution from an initial deposit of $1000.
- Unlimited Account: An account type similar to the Standard Account, but with smaller, floating spreads starting from 0.2 pips. Available from $500 deposits with a leverage of up to 500:1.
A comprehensive comparison table of the different settings and features for each of FBS’ account types is presented below:
TECHNOLOGY
FBS clients are welcome to use the popular MT4 trading platform or can select its younger brother, MT5. Both trading platforms are available for all six account types.
Both platforms can be used with desktop computers or as a browser-based webtrader. Mobile trading is available for all common Android and iOS devices.
Both MetaTrader platforms allow for a wide range of leverage and trade execution without requotes. The full set of MT’s standard features are available, such as the use and implementation of expert advisors (EAs), micro-lot trading, one-click trading and an embedded news section. Technical analysis tools, including 50 indicators and charting tools with three types of charts, are at hand as well as the option for VPS service support.
FBS further offers the MetaTrader 4 MultiTerminal, which is a multi-account-management solution for MT4. With this terminal, account and money managers have the ability to manage multiple trading accounts simultaneously under one portfolio. The status of open positions and pending orders can be monitored and controlled via this tool. Quotes and news are received in real time just like on any MetaTrader account.
FBS Trader is the broker’s new, proprietary trading platform. The broker highlights that this trading platform is as powerful as the popular MetaTrader platforms but simpler to use.
The FBS Trader is available for download on desktop computers or as a mobile platform for Android and iOS devices. It offers real-time stats and a smart interface for editing orders and account settings in just a few clicks.
FBS CopyTrade Platform:
FBS jumped on board of the popular social trading train with their FBS CopyTrade platform. It is a copy trading platform where traders can automatically replicate (copy) the strategies and trades of other traders.
CopyTrade enables all types of traders to engage in the financial markets and invest in professional or more experienced traders. The broker provides a list of advanced traders displaying their general profiles, generated returns in a given period, number of copiers and copy-fees charged. A trader can then check the statistics of the relevant traders and select those they want to follow or to copy.
On the other hand, experienced traders can set up their accounts to allow copy trading and specify a commission percentage that they wish to charge. This can serve as a major source of income for successful traders as they can earn huge commissions from a potentially unlimited number of copiers. FBS CopyTrade is available as an Android and iOS app, which can be downloaded and installed from the respective app stores.
A free VPS service is available to those clients that meet the conditions of depositing at least $450 and trading a minimum of just 3 lots per month. A VPS is a tool that most professional traders use to stay online and connected to the trading servers anywhere and anytime. Especially those traders using Expert Advisors (EAs) as well as high-frequency traders that require a stable and fast server connection where slippage is reduced to the absolute minimum should consider using a VPS.
FBS further offers an informative market analytics section that includes Forex News, Daily Market Analysis and Forex TV, a section with short videos of news and reviews about the world of Forex.
Execution of Speed Comparison
CUSTOMER SERVICE AND CLIENTS SUPPORT
Customer support service at FBS is available 24/7, a significant advantage given that most other brokers only offer 24/5 support. Support is available in 19 different languages including Arabic, Chinese, Malay, Thai, Korean, Indonesian, Russian, Laotian, French, Italian, Spanish and Portuguese. Localized support services are available for traders in China, Egypt, Indonesia, Korea, Malaysia, Myanmar and Thailand.
Worldwide, more than 5 million traders from over 120 countries have already chosen FBS’ services and registered a trading account with the company. The company has won tons of industry awards and is ranked as one of the top Forex trading providers in Asia.
Both new clients to FBS and established traders have access to the multitude of promotions and bonuses on offer. These bonuses and promotions include a $123 no deposit bonus (welcome offer that is available to clients from selected regions only), 100% deposit bonus “trade 100 bonus” and many more.
In addition to providing a news and info section, the company also offers in-depth insight and education on all Forex and trading-related topics. This includes webinars, seminars, videos, guidebooks for traders and much more. Both newbies and professional traders can significantly benefit from this wealth of insider information.
An economic calendar, Forex market news, daily market analysis and Forex TV are all accessible via the Forex broker’s homepage fbs.com.
For the more serious or professional traders who have funded their account with at least $10,000 and traded a minimum of 50 lots, FBS offers an individual VIP approach through which clients benefit from consultations with a dedicated account manager, priority deposit and withdrawal processing, and gifts.
All customers can choose between six distinct account types that vary in terms of leverage, minimum deposit amounts, starting spread levels and other features, as shown above.
The available trading products include 35 currency pairs, 4 metals, 3 CFDs, a small selection of stocks from around the globe and 4 cryptocurrencies.
Even though other forex brokers offer a more extensive portfolio of trading tools, FBS’ selection of trading tools represents a solid and sound variety that is especially beneficial for a more targeted trading approach that focuses on Forex and cryptocurrency trading.
To get started and test FBS’ overall trading conditions, we recommend to open a demo account first. This option is free of charge with the broker for both MetaTrader 4 and 5 platforms.
One of the negative FBS Broker experiences is that charges are generally levied for payment transactions with the exception of credit cards or bank transfers. The deposit fees for this vary between 0.8 and 7.5 per cent.
The fees for withdrawals via e-wallet are also quite high. Traders should, therefore, use a credit card wherever possible. For transfers to bank accounts, a flat fee of $30 is charged. This also applies if part of the payment is booked to the credit card. If the payout exceeds the amount previously paid in with the credit card, the difference in excess will be transferred to a bank account of the trading account holder. Payments to third party accounts are not possible here either.
Available deposit / payment methods include:
- credit card and debit card (Visa only)
- Neteller
- Skrill
- Stic Pay
- Perfect Money
- bitwallet
- Bank wire transfer
With the online broker FBS traders have a chance in competing in various contests and trading tournaments. Prices include exclusive products such as cars, electronic devices, vacation or cash.
Clients looking to invest in experienced traders instead of trading themselves will find the FBS CopyTrade platform interesting. Retail investors can join a network of traders and copy their strategies and trades for a commission set by the individual traders. Typical commission charges vary between 10 and 30% of the trading profits generated by the trader. Followers have access to information and statistics of all available traders. These stats an be viewed and compared at any time.
On the other hand, successful traders have the opportunity to present their trading portfolio and offer to being copied to the FBS network of investors. For each investor following their strategy and copying their trades these strategy managers earn extra commission from successful trades.
FOREX AND OTHER TRADING OPTIONS
FBS offers 35 currency pairs, 4 metals, 2 commodities, 4 cryptocurrency CFDs and a small selection of stocks.
Forex traders will find a very decent selection of currency pairs including majors, minors and exotics.
Available shares include Alibaba, Amazon, Apple, Coca-Cola, eBay, Facebook, IBM, Mastercard, Netflix and a few other stocks from popular, international companies.
FBS offers varying leverage of up to 3000:1, different funding currencies, micro-lot trading starting from 0.01 lots and ultra-low spreads of 0.0 Pips (with an FBS ECN or Unlimited account). All account types, except its ECN account, support the following trading instruments: 35 currency pairs, 4 metals, 2 CFDs and 4 cryptocurrencies. The ECN account focusses solely on Forex trading and allows clients to trade 25 currency pairs.
At this stage, the cryptocurrencies that are available for trading are Bitcoin, Ethereum, Litecoin and Dash.
FBS further offers the MetaTrader 4 MultiTerminal, which is a multi-account-management solution for MT4. With this tool, money or professional account managers have the ability to manage multiple trading accounts simultaneously under one portfolio. The status of open positions and pending orders can be easily monitored and controlled via the MT4 Multi-account terminal. Quotes and news can be received in real time just like on any MetaTrader account.
Demo accounts are an excellent way to start your journey with a new Forex provider to get a feeling for the trading conditions and check the trading environment in real-time. Even professional and expert traders utilize demo accounts before they jump on a new trading platform and begin trading with their own money.
Demo accounts are often used for back-testing trading strategies and before implementing them in real-world trading to understand if they can work. The demo account is not merely a generous addition of a broker’s portfolio. It has an essential importance for the testing and implementation of new strategies and should be available indefinitely. Fortunately, with FBS, a test account can be selected upon sign up.
The sign-up process to get started with a trial account is pretty straight forward, easy and most importantly: free!
SPECIAL FEATURES OF FBS
FBS offers ultra-low spreads from 0.0 pips and high leverage of up to 3000:1.
Six account types are available to cater for the needs of all types of traders. These account options vary in minimum deposit requirements, max leverage settings and average spread sizes.
Most trading styles, such as EAs, scalping and hedging are allowed.
Metatrader 4 and 5 are available as trading platforms on almost all desktop computers and devices.
MetaTrader 4 MultiTerminal for active account and money managers allows multi-account-management via one terminal.
FBS Trader is available for download on desktop computers as well as Android and iOS mobile apps.
The broker offers a special, individual client service to its ‘VIP’ clients that grants access to a personal account manager and additional features such as priority processing of deposits and withdrawals and gifts.
Excellent education and news information are provided in the form of seminars, webinars, Forex TV, etc. that are of benefit to both beginners and professional traders alike.
Social trading is available with FBS CopyTrader. Both investors and savvy traders can benefit from the program utilising a profit share model based on commissions instead of fixed, recurring fees.
CopyTrade enables all types of traders to engage in the financial markets and invest in professional or more experienced traders. The broker provides a list of advanced traders displaying their general profiles, generated returns in a given period, number of copiers and copy-fees charged. A trader can then check the statistics of the relevant traders and select those they want to follow or to copy.
Experienced traders can present their accounts to the public and allow copy trading of their strategies. This can serve as a major source of income for successful traders as they can earn large commissions from a potentially unlimited number of followers. FBS CopyTrade is available as an Android and iOS app, which can be downloaded and installed from the respective app stores.
A free VPS service is available to those clients that meet the relevant conditions. These requirements are depositing at least $450 and trading a minimum of only 3 lots per month. A VPS is a special service offered by online brokers that most professional traders use to stay online and connected to the trading servers no matter where they are as no internet connectivity is required. Especially those traders using Expert Advisors (EAs) or trading strategies that open and closes trades with a high-frequency rely on a stable, secure and fast server connection where slippage is reduced to the absolute minimum.
A welcome bonus, as well as ongoing promotions and contests, are offered.
Max Leverage Comparison
OUR CONCLUSION
FBS is one of the world’s leading online Forex brokers with a client base exceeding 5 million customers. This broker doesn’t offer the most financial instruments for trading compared to other online Forex brokers but they do offer a decent selection for most types of traders. With six account options to choose from, formidable spreads, a huge maximum leverage of up to 3000:1 and NDD/STP processing FBS offers the sophisticated trader a very solid trading environment that we can highly recommend.
Investors and professional traders alike can further benefit from FBS CopyTrade. The CopyTrade platform is designed to offer copy trading for any type of investor and trader. Transparent commission structures and past trading results can be viewed via the sophisticated CopyTrade app.
Some negative aspects concerning the FBS offering are the limited number of available financial instruments, slightly higher fees for deposits and withdrawals and that customer support is mostly available in English only.
On the other hand, the broker offers a vast selection of educational tools, such as seminars, webinars, eBooks, tutorials and much more.
