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FBS Review 2024

Written By

William Berg

Written By

William Berg

William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.

» William Berg Profile Page

Fact Checked By

Tobias Robinson

Fact Checked By

Tobias Robinson

Tobias is a partner at DayTrading.com, director of a UK limited company and active trader. He has over 25 years of experience in the financial industry and contributed via CySec to the regulatory response to digital options and CFD trading in Europe. Toby’s expertise and dedication to financial education make him a trusted voice in the industry, including a BBC investigation into digital options.

» Tobias Robinson Profile Page

Updated

Jul 16, 2024

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Overall Rating

4.3 / 5

FBS is #27 in our CFD broker rankings.

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Customer Reviews

Regulation & Trust

4.1 / 5

Accounts & Banking

4.3 / 5

Assets & Markets

3.3 / 5

Fees & Costs

3.8 / 5

Platforms & Tools

3.5 / 5

Customer Support

4.3 / 5

Minimum Deposit $5

Trading Platforms MT4, MT5

Instruments CFDs, forex, indices, shares, commodities, cryptocurrencies

Regulators ASIC, CySEC, FSC

Account Currencies USD, EUR

Payment Options Visa, Neteller, Skrill, Wire Transfer, Rapid Transfer, Mastercard, Credit Card, AstroPay, Maestro

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

• The MetaTrader terminals deliver a comprehensive day trading environment at FBS, including up to 21 timeframes and 6 pending orders
• FBS maintains its position as a trusted European broker with top-tier licenses, several awards and negative balance protection for clients
• The commission-free payment methods and low minimum deposits make the broker ideal for beginners or those on a lower budget

Cons

• There’s no copy trading solution which would offer an alternative way to trade and is offered at many top competitors like Skilling
• There's a limited range of assets overall, despite bolstering the choice of currency pairs and stocks in recent years
• Platform access and market coverage all vary by jurisdiction making for a varied trading experience depending on your location

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), and Intelligent Financial Markets Pty Ltd. (licensed by ASIC).

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:

• 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.

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:

• 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.

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.

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:

• Forex – 72 majors, minors and exotics
• Metals – 8 precious metals including gold & silver
• Indices – 11 cash-based indexes including NASDAQ
• Stocks (global only) – 474 US, UK and German company shares
• Energies – 3 energies including WTI oil, Brent crude oil, and natural gas
• Cryptocurrency – tokens are available through the FBS Trader app. Cryptos can be traded directly and via 5 pairs including BTC/USD

Trading Fees

Spreads offered by FBS vary by 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 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 can vary depending on your trading region. That said, the firm generally requires an initial deposit of $5.

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

FBS offers demo versions of its live 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.

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).

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.

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 can open the live Trading Account.

This keeps things simple for aspiring investors while offering flexible trading conditions, including order volumes from 0.01 to 500 lots, up to 500 open positions, and up to 1:3000 leverage (location dependent) with a 40% margin call and 20% stop out level.

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

Customer support is English and mutilingual:

EU

• Email – info@fbs.eu
• Contact number – +357 25313540
• Live chat – logo in the bottom right
• Address – Vasileos Georgiou A 89, Office 101, Potamos Germasogeias 4048, Limassol, Cyprus

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 a low minimum deposit 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.

Top 3 Alternatives to FBS

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

1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US 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.
   Go to IG
2. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
   Go to Interactive Brokers
3. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
   Go to World Forex

FBS Comparison Table

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.

FBS vs Other Brokers

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