FBS Review 2024


4.3 / 5
FBS is #28 in our CFD broker rankings.

FBS is a great choice for traders of all experience levels and budgets with various account types, plus MetaTrader 4 and MetaTrader 5 access. That said, the broker's Cent account and intensive forex course will be particularly beneficial for beginners.

- Daytrading Review Team

FBS is an award-winning forex and CFD broker based in Cyprus. The broker has a strong global reputation with authorization from the CySEC and ASIC, amongst others regulators. The brand has 17 million clients in over 190 countries, attracted by a diverse range of markets and the reputable MetaTrader platforms.

$5
MT4, MT5
CFDs, forex, indices, shares, commodities, cryptocurrencies
-
USD, EUR
Visa, Neteller, Skrill, Wire Transfer, Rapid Transfer, Mastercard, Credit Card, AstroPay, Maestro

Trading App

The FBS Trader app allows clients to manage their finances and speculate on 44 forex pairs, among other assets. Instant deposits are available, as well as one-click trading. Users can also conduct technical analysis via interactive charting with multiple indicators. The app is free to download from the respective app stores.

iOS App Rating
Android App Rating

Forex Trading

FBS offers a below-average range of 35+ majors, minors and exotics. That said, spreads are fairly competitive, averaging 0.7 pips for EUR/USD in the Standard account. There’s also an excellent range of forex market resources and tools on offer, including calculators and an intensive forex course.

Stock Trading

You can trade on a decent range of UK, US and German shares with a competitive 0.7% commission on US stocks. The free economic calendar can also be used to track major events and inform strategies, whilst the daily market analysis offers a dedicated Stocks section.

CFD Trading

You can go long or short on a decent suite of financial markets with leveraged CFDs. Users can choose between three reliable platforms with over 50 indicators and charting tools, plus fast market execution from 0.3 seconds.

Crypto Trading

FBS offers trading on crypto/metal, crypto/crypto or crypto/fiat pairs, making the broker a great pick for traders looking to diversify their digital asset portfolios. Spreads are also decent, averaging around 20.0 for BTC/USD.

Awards

  • Best Customer Service Broker WBO 2022
  • Most Reliable Forex Broker MENA 2020
  • Best Social Trading Application MENA 2020
  • Best Mobile Trading Platform Asia 2020
  • Best FX Broker Europe 2019
  • Most Transparent Forex Broker 2018
  • Best Forex Broker Asia 2018
  • Best Safety of Client Funds Asia 2015

✓ Pros

  • There’s a great choice of account types for short-term traders including crypto, cent and ECN options, with decent forex spreads at 0.7 pips
  • FBS maintains its position as a trusted European broker with top-tier licenses, several awards and negative balance protection for clients
  • The MetaTrader terminals deliver a comprehensive day trading environment at FBS, including up to 21 timeframes and 6 pending orders
  • The commission-free payment methods and low minimum deposits make the broker ideal for beginners or those on a lower budget
  • The broker’s NDD technology ensures fast order execution within 0.4 seconds and no requotes
  • There’s a comprehensive learning section with tailored courses, webinars and trade ideas

✗ Cons

  • There’s no copy trading solution which would offer an alternative way to trade and is offered at many top competitors like Skilling
  • Account availability, platform access and market coverage all vary by jurisdiction
  • There's a limited range of assets overall, including only 35+ currency pairs

FBS is an online broker that offers financial market trading in forex and CFDs. Our review in 2024 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

The FBS CFD trading platform was founded in 2009 by investors who were interested in trading research and technical analysis. FBS provides global markets with transparent and trusted applications for more than 27M CFD traders.

Today, FBS is an international brand present in over 150 countries. The brand unites several companies offering their clients opportunities to trade Margin FX and CFDs.

The companies include FBS Markets Inc. (licensed by FSC), Tradestone Ltd. (licensed by CySEC), Intelligent Financial Markets Pty Ltd. (licensed by ASIC), and TRADE STONE SA (PTY) LTD. (licensed by FSCA).

Trading Platforms

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:

MetaTrader 4

MT4 is a market-leading platform that FBS clients can download for PC. The trading platform includes a range of features:

FBS MT4 Platform
MetaTrader 4

The global branch of FBS also offers MT4 MultiTerminal, which allows clients to operate multiple accounts simultaneously.

MetaTrader 5

The broker also added MT5 integration to its portfolio. This platform is an update to MT4 with greater versatility that offers the following:

FBS MetaTrader 5
MetaTrader 5

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.

FBS Trader

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.

FBS trading broker apk download
FBS Trader

Overall, FBS Trader is a good option for beginners, offering a user-friendly trading terminal available 24/7.

Markets

Clients can access a wide range of assets:

Trading Fees

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.

FBS Leverage

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.

Mobile Apps

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 MetaTrader mobile trading
MT4 App

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.

FBS mobile app
FBS Trader

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 $5 on the Cent and Standard accounts and $200 on the Pro solution.

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.

Trading Bonuses

The broker 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, 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 Belize Financial Service Commission (FSC). 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 Nigeria.

Additional Features

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.

FBS economic calendar
Economic Calendar

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.

Trading Accounts

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.

Trading Hours

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

4.3 / 5

Customer support is English and mutilingual:

EU

Global

Contact options including live chat, callback, and WhatsApp are available on the global website.

Trader Safety

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.

FAQ

Where Is FBS Regulated?

This broker is regulated in the EU by the Cyprus Securities and Exchange Commission (CySEC) and elsewhere by the Belize Financial Service Commission (FSC), 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 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 Cent and Standard account with $5. 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.

Top 3 Alternatives to FBS

Compare FBS with the top 3 similar brokers that accept traders from your location.

  1. IC Markets – IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.

  2. Pepperstone – Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.

    CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.
  3. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

FBS Comparison Table

Compare FBS With Similar Brokers
FBS IC Markets Pepperstone IG
Rating 4.3 4.8 4.8 4.4
Markets CFDs, forex, indices, shares, commodities, cryptocurrencies CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
Demo Account Yes Yes Yes Yes
Minimum Deposit $5 $200 $0 $0
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Regulators ASIC, CySEC, FSC, FSCA ASIC, CySEC, FSA FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA
Bonus
Education Yes Yes Yes Yes
Platforms MT4, MT5 MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral
Leverage 1:30 (EU & Restricted Countries), 1:3000 (Global) 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) 1:30 (Retail), 1:500 (Pro) 1:30 (Retail), 1:250 (Pro)
Payment Methods 9 14 11 6
Visit Visit Visit Visit Visit
Review IC Markets
Review
Pepperstone
Review
IG
Review

Compare Trading Instruments

Compare the markets and instruments offered by FBS and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare FBS Trading Instruments
FBS IC Markets Pepperstone IG
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes Yes Yes
Gold Yes Yes Yes Yes
Copper No No Yes Yes
Silver Yes Yes Yes Yes
Corn No Yes Yes No
Crypto Yes Yes Yes Yes
Futures Yes Yes No Yes
Options No No No Yes
ETFs No Yes Yes Yes
Bonds No Yes No Yes
Warrants No No No Yes
Spreadbetting No No Yes Yes
Volatility Index No Yes Yes Yes

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FBS is an award-winning forex and CFD broker based in Cyprus. The broker has a strong global reputation with authorization from the CySEC and ASIC, amongst others regulators. The brand has 17 million clients in over 190 countries, attracted by a diverse range of markets and the reputable MetaTrader platforms.