FBS Forex Broker Review

FBS FOREX BROKER REVIEW

Financial Brokerage Service, FBS is an international forex broker with offices in Russia, China, Indonesia, Malaysia, Egypt, Korea, Thailand, and Jordan.

Founded in 2009 and managed by the FBS Markets Inc Company, the broker is primarily regulated by the International Financial Services Commission (IFSC) which is a governmental agency that regulates all financial market organizations in Belize.

Over the years, FBS has managed to win numerous international awards in the monetary world proving their commitment to offering great financial services to their clients. Some of these awards are: Best International Broker, Best Customer Service Broker Asia 2016, Highly Recommended Broker, Best FX IB Program, Best Forex Broker Southeast Asia, Best Forex Brand Asia 2015, and many others.

The broker claims to have over 700,000 registered traders in more than 120 countries across the world.  

FBS mainly trades in currency pairs, precious metals, and CFDs.

FBS Account Options

Traders at FBS have an option of over six types of trading accounts that they can choose from. These are: Cent Account, Micro Account, Standard Account, Zero Spread Account, Unlimited Account, and ECN Account.

  1. Cent Account
  • Deposit minimum of $1
  • 1:1000 leverage
  • No commission
  • Floating spreads from 1pip
  • A maximum of 200 open positions and pending orders
  • From 0.3secs STP market execution
  • Order volume from 0.01 to 1000 cents lots
  1. Micro Account
  • Deposit minimum of $5
  • 1:3000 leverage
  • No commission
  • From 3 pips fixed spreads
  • A maximum of 200 open positions and pending orders
  • From 0.3 secs STP market execution
  • Order volume from 0.01 to 500 lots
  1. Standard Account
  • Deposit minimum of $100
  • 1:3000 leverage
  • No commission
  • Floating spread from 0.5 pips
  • A maximum of 200 open positions and pending orders
  • From 0.3sec STP market execution
  • Order volume from 0.01 to 500 lots
  1. Zero Account
  • Deposit minimum of $500
  • 1:3000 leverage
  • From $20 commission
  • Fixed spread from 0pip
  • A maximum of 200 open positions and pending orders
  • From 0.3sec STP market execution
  • Order volume from 0.01 to 500 lots

  1. Unlimited Account
  • A minimum deposit of $500
  • Up to 1:500 leverage
  • No commission
  • Floating spread from 0.2pips
  • No trading limits
  • Momentarily STP Market execution
  • Order volume from 0.1 to 500 lots
  1. ECN Account
  • Deposit minimum of $1000
  • Up to 1:500 leverage
  • From $6 commission
  • Floating spread from -1pip
  • No trading limit
  • ECN market execution
  • Order volume from 0.1 to 500 lots

Demo Account is also available for new traders who want to practice before opening a live account. A trader only needs to select the trading account that he most prefers and establish an initial account balance.

Virtual funds are provided in the demo account so that the trader can trade without the risk of losing money.

A trader can also become a VIP Client at FBS in order to enjoy great benefits such as prioritized processing of deposit and withdrawals, receiving VIP gifts and client certificate, and also have a personal account manager.

FBS Commissions and Spreads

The type of spread and commissions at FBS is determined by the type of trading account. There are two types of spreads offered by FBS. These are the floating and the fixed spreads. The fixed spreads are only available to the Micro and Zero Spread accounts with the spread starting from a minimum of 0 pips.

The floating spread offers a minimum spread beginning from -1pips only for the ECN account while the other accounts get a minimum floating spread that begins from 0.2pips.

Commission charges are only available in the Zero Spread and ENC accounts where they start from $20 for the Zero Spread account and $6 for the ENC account.

FBS Trading Platform

FBS use the Meta Trader 4 (MT4) as their main trading platform. This is a very popular trading platform that is used by most forex brokers.

Traders love the MT4 platform because it is user-friendly, convenient, and can be easily customized. The platform also offers a wide range of trading tools like an all-inclusive charting package and numerous technical indicators.

The platform also supports the use of Expert Advisers through automated trading.

FBS has also provided the MetaTrader5 (MT5) trading platform to their clients. This is a more improved version of MT4. It comes with all the benefits of MT4 but with some few improvements to deliver more efficiency and convenience in trading.

Traders are able to get the mobile-optimized version of these platforms which can easily be downloaded as apps from Google Play Store and Apple’s App Store.

FBS Trading Instruments

Traders at FBS are able to trade in currency pairs, precious metals, and CFDs. The broker offers 35 different forex pairs with 12 currencies and a cryptocurrency including the U.S Dollar (USD), Japanese Yen (JPY), Euro (EUR), Australian Dollar (AUD), Canadian Dollar (CAD), British Pound (GBP), Swiss Franc (CHF), Mexican Peso (MXN), Turkish Lira (TRY), Chinese Yuan(CNH), New Zealand Dollar(NZD), Russian Ruble(RUB), and Bitcoin(BTC).

In the precious metal section, traders can invest in Gold, Copper, Silver, Platinum, and Palladium, while in the CFDs category FBS offer trades in major indices and commodities, as well as energy futures.  

Traders are allowed to use Expert Advisors (EAs) and to apply other trading strategies to boost their chances of getting profits.

FBS Deposit and Withdrawal Options

FBS allows a wide selection of deposit and withdrawal methods that a trader can choose from. Some of these methods are Bank wires, Credit cards, Digital Currency Exchange, FBS Exchanger, FBS local Depo Malaysia, Netteller, Skrill, Perfect Money, and many others.

The minimum deposit amount will depend on the type of account a trader has. A-Cent Account will require a minimum deposit of $1, Micro account-$5, Standard account-$100, Zero Spread and Unlimited accounts-$500, and ECN account -$1000.

All modes of payment allow a minimum withdrawal amount of $1 except for bank wire transfer method which only allows a minimum withdrawal of $200.

It takes 15 min to 2 days for a withdrawal transaction to complete depending on the method used.

FBS Bonus and Promotions

FBS is known for the many bonuses that they give to their clients both new and old. These bonuses include:

The $123 Welcome Bonus -offered to new traders who register with FBS. It does not require a deposit. The trader only needs to open a special bonus account and trade for 7 days. After the seven days, the bonus is canceled and the account type changed to unlimited. The profit earned is recorded and the trader is able to withdraw it on the first of each month three times the lot he had played the previous month e.g. 50 lots played gets 150 profit withdrawals.

The $50 No Deposit bonus is a welcome bonus offered to new traders. A trader will receive a deposit of $50 in his account when he opens a $50 account and passes the verification process. The trader uses the amount to trade and increase his profits with a maximum leverage of 1:500. The profits can only be withdrawn when it is more than $25 and two lots have been traded. The maximum profit that a trader can get in this bonus account is $500.

$88.8 Lucky No Deposit bonus

This is a welcome bonus offered only to new traders from Malaysia when they open an account with FBS. A trader only has to sign up with FBS and open an ‘88.8 bonus’ account. After verifying his email and phone number, $88.8 is then credited to his account. The trader is then able to trade with the amount for 8 days then the bonus is canceled. The profits made can only be withdrawn if the trader was able to make 8 positions lasting for 8 lots each lasting for 8mins. The minimum withdrawal amount is $88 and the maximum leverage is 1:888.

This bonus expired on the 31st Dec 2016 so it is no longer available.

100% deposit bonus is the most popular bonus. Traders are able to increase their profits through this bonus which is given every time a new trader makes a deposit in their account. The bonus is only given to new traders on the site. The trader is given a 100% of the amount he deposits after signing up with FBS.  The maximum bonus that a trader can get is $20,000. To withdraw, a trader needs to have 1 standard lot trade for every $3 bonus. This Bonus does not have an expiration date.

Cashback bonus of up to $15 for every lot a trader makes even when he loses. The traders only need to switch their trading accounts into ‘cashback’ service from the account setting and activate the option. The bonus is not limited and a trader is free to withdraw anytime. This bonus is available to all traders at FBS. It expires on 31st Dec 2018.

The Affiliate bonus is available to partner traders at FBS. The trader gets up to $500 commission for every successful referral they make. When a trader becomes a partner at FBS, he is provided with a link which he uses to register new clients. A commission of up to $500 is given to the trader every time the client trades at FBS.

FBS also conduct promotions such as the ‘Get Car’ Promo, the ‘Lucky T-shirt’ Promo, and ‘Lots of Apple’ promo (traders are gifted with iPhones X when they trade).

There are also bi-weekly contests held for demo account users.

FBS Customer Support and Education

Customer support at FBS is available 24/5 in more than 19 languages including, Arabic, English, Chinese, French, Spanish, Russia, Portuguese, Indonesia, Malay, and Thai. Traders in countries such as Malaysia, Indonesia, Egypt, and Thailand are able to get localized support services.

Clients are able to contact them through email, live chat, and phone calls. A trader can also request for callback. The live chat is only available in English.

Traders at FBS are also provided with a wide array of educational materials like market analysis, economic calendars, and trading calculators. They are also able to participate in real life trading seminars and workshops which are held regularly in different locations.

The FAQ section also has very useful information of the commonly asked questions by traders.

FBS has a free unique ‘breakeven trading insurance scheme’ which is currently being offered to clients to cushion them from major loss while trading.

FBS Pros and Cons

Pros

  • They have been in business since 2009
  • Regulated by the IFSC
  • Have won numerous international awards
  • Great platform for mobile, desktop and web
  • Have great bonuses and promotions
  • Have a wide choice of trading accounts.
  • Trading insurance

Cons

  • Only provides the MetaTrader platform
  • Have very high spreads in some trading accounts.
  • Not regulated in the EU or US

Conclusion

FBS has come a long way since its establishment in 2009. It has grown into a reputable forex broker winning numerous awards and being recognized by financial experts and traders across the world.

They have a wide selection of accounts to allow traders from different financial abilities to trade without restrictions. A trader can be able to have a live trading account with a minimum deposit of $1.

There are several attractive bonuses that traders at FBS are able to enjoy like the no deposit required bonuses of $50, $123 which are given to new traders to welcome them in the platform, and also the 100% welcome bonus offered to new traders when they make a deposit in their trading account.

Traders at FBS are also given a wide range of payment methods that they can use to deposit or withdraw money from their trading accounts.

FBS is the only forex broker that offer their clients an opportunity to insure their deposit through a “Breakeven” cover which helps in recovering funds after a client makes a loss during trading.

 

  

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