FBS Review 2022
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FBS is an online broker that offers financial market trading in forex and CFDs. Our review in 2022 takes a thorough look at the broker’s legitimacy, leverage offering, spreads, demo account, and minimum deposits. Find out whether to sign up for an FBS account today.
History & Headlines
FBS is an international brokerage present in over 150 countries. FBS stands for Financial Brokerage Services. The company has a head office location in Cyprus and over 23 million active traders, from Malaysia and Indonesia to South Africa, Pakistan and the EU.
Tradestone Ltd. is authorized by the Cyprus Securities & Exchange Commission (CySEC) under the license number 331/17.
Companies united by the FBS brand offer margin trading opportunities across hundreds of assets, as well as a suite of educational materials for beginners.
FBS uses a non-dealing desk (NDD) system with an electronic communications network (ECN) for rapid order execution. After registration and login, clients have a choice of three platforms:
MT4 is a market-leading platform that FBS clients can download for PC. The trading platform includes a range of features:
- One-click execution and copy-trading
- Expert Advisors (EA) service and APIs
- Wide range of technical indicators and charting tools
- Support for clients using a virtual private server (VPS)
The global branch of FBS also offers MT4 MultiTerminal, which allows clients to operate multiple accounts simultaneously.
The broker also added MT5 integration to its portfolio. This platform is an update to MT4 with greater versatility that offers the following:
- Hedging & netting
- Market depth view
- More technical indicators
- More order types and timeframes
MT4 and MT5 are also both available without a download via any browser through the WebTrader solution. This service works across all operating systems and has all the features of the original software.
Investors are able to trade cryptos, stocks, gold and forex, among other markets. Real-time price alerts and market tracking make it easy to stay on top of trends while on the go. Upon testing, our experts were also pleased with the instant deposits and withdrawals, plus the slick interface which means you can amend account and order parameters in a few clicks.
Overall, FBS Trader is a good option for beginners, offering a user-friendly trading terminal available 24/7.
Clients can access a wide range of assets:
- Forex – 28 standard pairs plus 16 exotics
- Metals – two precious metals: gold & silver
- Indices – 10+ cash-based indexes including NASDAQ
- Stocks (global only) – a multitude of US, UK and German company shares
- Energies – WTI oil, Brent crude oil, and natural gas
- Cryptocurrency – tokens are available through the FBS Trader app. Cryptos can be traded directly and via 60+ pairs – crypto/metal, crypto/crypto or crypto/fiat, such as BTC/USD and LTC/USD
Spreads offered by FBS vary by account type, market and region. For EUR/USD, the EU firm offers a spread of 0.7 pips on average. The firm charges a 0.7% commission for US stocks.
FBS charges overnight rollover fees. Swap-free investing is possible but is not available when trading cryptos, forex exotics, indices, stocks and energy instruments.
A fixed-rate option is also available for clients from Nigeria. This allows the national currency NGN to be exchanged for an exact number of USD every time. Check on the broker’s website for the latest currency exchange rates.
The maximum leverage available depends on account type and branch. In the EU, for example, the broker provides leverage up to 1:30 on Standard and Cent account types and 1:2 on Crypto. Globally the company offers up to 1:3000 leverage.
FBS has a margin call of 40% and lower, whereafter it is entitled to close a client’s position.
MT4 & MT5
Both MetaTrader platforms are also available as mobile apps from the App Store and Google Play. The apps have the main features of the native platforms including technical analysis with the convenience of one-click trading on-the-go.
FBS Trader App
The owner and CEO have ensured that FBS Trader is a free and fully-featured trading app. As outlined above, the broker’s downloadable app offers forex and top instruments for investing, alongside real-time stats and easy account management.
Deposits & Withdrawals
The minimum deposit at the online forex broker is different for each account type and trading region. The firm requires an initial deposit of €10 on the Cent account and €100 on the Standard. While using FBS, we were pleased to see the low minimum deposit offering of $1 on Crypto.
Several deposit and withdrawal methods are available including wire transfer, Visa, Maestro, Mastercard and electronic payment systems, such as Skrill, Rapid Transfer and Neteller.
Deposits are instant for all methods bar wire transfer and withdrawals take up to 48 hours. No commission fees apply to deposits and withdrawals, but your bank may decide to take a fee.
Identifying documents may be requested to process a transaction.
Demo Account Review
FBS offers demo versions of the Cent and Standard accounts. MT4 and MT5 integration are available and a range of instruments are offered to practice trading with zero deposit requirement.
Once comfortable with the broker’s services, you can then sign up for a live account.
FBS Global are currently operating the ‘Level Up’ bonus, where clients receive $70. This can be increased by using the FBS Personal Area App, up to $140. Full details and T&Cs are on the FBS website.
The broker also runs a loyalty program where traders can pick up a selection of perks and rewards, including gadgets and cash prizes. Clients simply need to sign up for the loyalty scheme in their account area and carry on trading. Prize points can be exchanged for gifts in a few clicks.
New vouchers are also added frequently, like the $100 bonus, meaning investors get a boost to their trading capital upon sign-up.
Note, these promotions are not available in certain regions where regulation prohibits bonuses. Also check the terms and conditions upon registration as promotions will expire after a certain period.
Licensing & Regulation
FBS is a legitimate broker with regulations from respected authorities.
The company that owns the EU branch of FBS is regulated by the Cyprus Securities and Exchange Commission (CySEC). The global branch is regulated by the International Financial Services Commission of Belize (IFSC). In addition, the brand is regulated by the Australian Securities & Investments Commission (ASIC) and the Financial Sector Conduct Authority (FSCA) in South Africa.
In the EU, the broker also offers negative balance protection to retail clients. Overall, we are happy FBS is not a scam.
Note that traders from the USA, Japan, Myanmar, Malaysia, Israel, Iran and Canada cannot register for an account, though clients from most other countries are accepted, including India and Nigeria.
The FBS website has an analysis section with resources including courses, a glossary, a guidebook, trading ideas (not a signals service), forex-related news, market updates, and a Forex TV feature that displays informational videos, weekly insights, and trading plans. This broker also provides an economic calendar, available on the mobile app, and forex calculators alongside extensive educational materials such as live webinars and tutorials.
Note that the copy trading app has been disabled in 2022. However, MT4 and MT5 facilitate copy trading alongside EAs which serve as a signals service.
New clients have the option of several live account types.
In the EU, the broker offers Crypto, Standard and Cent accounts. The global branch additionally offers the Micro, Zero Spread, and ECN. Order volumes are the same across account types: 0.01 – 500 lots.
The ECN account has no trading limits and market execution is by ECN, unlike the other accounts which use STP. In general, the more you can deposit the higher the account tier and the more competitive the trading conditions.
FBS also offers a dedicated crypto trading account for aspiring digital currency investors. Clients can take positions on leading tokens with a suite of analysis tools and features to enhance the trading experience. Leverage up to 1:5 (limited at 1:2 for EU and UK) is offered with the broker’s crypto trading solution.
When opening an account, you will need to submit documents to verify your name, address and the country you are registering from.
FBS Pros And Cons
Advantages of trading with FBS include:
- No requotes
- Fixed rate trading
- Near-instant payments
- MT4 and MT5 integration
- 0,3 seconds market execution
- Ultra-low minimum deposits
- Competitive zero-pip spreads
- Cryptocurrency trading account
- No commissions on deposits and withdrawals
Our experts also flagged several downsides:
- Limited copy trading functionality
- Fewer account and trading options in the EU and UK
- Commissions payable on many trade types at the global firm
The FBS broker website is available at all times. Opening hours for each asset depend on the market and timezone, but forex and crypto run 24 hours a day on weekdays.
The broker also provides a virtual private server (VPS) service, which allows the client to keep their trading platform on a virtual machine 24/7.
Customer support is English and mutilingual:
- Email – firstname.lastname@example.org
- Contact number – +357 25313540
- Live chat – logo in the bottom right
- Address – Vasileos Georgiou A 89, Office 101, Potamos Germasogeias 4048, Limassol, Cyprus
Contact options including live chat, callback, and WhatsApp are available on the global website.
FBS ensures client personal information and privacy is safeguarded. Transactional information is also protected using transport layer security (TLS). The MetaTrader platforms also offer dual-factor authentication at the login stage for added security.
Is FBS A Good Or Bad Broker?
FBS is an international forex broker that offers low minimum deposits and a variety of trading accounts with MT4 and MT5 integration, alongside the FBS Trader app. Spreads are competitive, and both novice and advanced traders will feel at home with this broker.
FBS accepts traders from Australia, Thailand, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use FBS from United States, Japan, Canada, Myanmar, Malaysia, Israel, Iran, United Kingdom.
Compare FBS with similar brokers that accept traders from your location. Among available brokers these are the most similar to FBS:
- LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
- Forex.com – Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer tight spreads on a cutting edge platform.
- IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
- eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. eToro USA LLC does not offer CFDs, only real crypto assets available.
FBS Comparison Table
|Markets||Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities, Crypto||Forex, Stocks, Commodities, Crypto|
|Minimum Trade||0.01 lots||0.01 lots||$1||0.1 lots||$10|
|Regulators||ASIC, CySEC, IFSC, FSCA||–||CySEC, IIROC, NFA, CFTC, FCA, CIMA||FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin||FCA, CySEC, ASIC, FSA|
|Bonus||$100 welcome bonus (only available in certain regions)||100% deposit bonus up to $20,000||No||–||–|
|Leverage||1:30 EU and restricted countries, 1:3000 rest of the world||1:100 – 1:500||1:200||1:30||1:30 EU|
|Detailed Comparison||–||FBS vs LQDFX||FBS vs Forex.com||FBS vs IG Group||FBS vs eToro|
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FBS vs Other Brokers
Compare FBS with any other broker by selecting the other broker below.
Where Is FBS Regulated?
This broker is regulated in the EU by the Cyprus Securities and Exchange Commission (CySEC) and elsewhere by the International Financial Services Commission of Belize (IFSC), the Australian Securities & Investments Commission (ASIC), and the Financial Sector Conduct Authority (FSCA) in South Africa.
Is FBS A Good Broker?
FBS is a legitimate broker and not a scam. It is licensed by respected financial authorities and our experts were pleased with the selection of products, assets and tools available upon testing.
Does FBS Offer Any Bonuses?
The global branch of FBS offers a variety of promotions, including a $100 bonus where no deposit is required. This broker also has trader demo contests and a VPS service. Check the website upon sign-up for the latest deals and offers.
What Is The Minimum Deposit At FBS?
Clients can open a Crypto account with $1 and a Cent account with $10. Higher account tiers have larger initial funding requirements.
What Platforms Does FBS Offer?
The broker has both MT4 and MT5 platforms, which are available on any browser and as mobile apps. This firm also offers FBS Trader, an in-house mobile application. All platforms are suitable for beginners and offer risk management tools, graphs and charts, plus one-click trading.
|FBS is a top online broker offering MT4 & MT5 trading across a range of popular markets. Multiple account tiers and loyalty bonuses are available.|
Articles about FBS
- FBS Expands Its List Of Stocks From Frankfurt Stock Exchange
- FBS Makes The Economic Calendar Available On Mobile App
- FBS Launches New Crypto Trading Account
- FBS Adds 30 New UK Stocks To Its MT5 Platform
- FBS Introduces Commission-Free Stock Indices
- FBS Launches In Australia Following ASIC License
- FBS Introduces Biggest Tournament Ever With $1.2million Prize Fund