FBS Review

FBS

  • Name : FBS
  • Website : fbs.com
  • Established : 2009
* Ranked #84 of 316 in DailyForex's top broker list

Info

Name : FBS
Website : fbs.com
Established : 2009
Country : Belize
U.S. Clients Allowed : No?
Due to strict US regulation many brokers aren't able to accept traders with US citizenship.
See our list of recommended brokers that do accept US traders.

Advantages

  • Choice of Several Accounts
  • Regulation
  • Demo Account

Disadvantages

  • High spreads on some accounts

FBS Review

FBS Review

FBS is a Forex broker and international financial and investment service domiciled in Belize with branches in Indonesia, Malaysia, Egypt, Thailand, China, Korea and Myanmar. FBS has won many awards including Best Customer Service Broker Asia 2016 and Highly Recommended Broker Insurance of the year in Indonesia. Today FBS offers trading of more than 40 trading symbols: 35 currency pairs, 4 metals and 2 CFD. FBS was founded in 2009 and is regulated by IFSC and CySEC.

Accounts

At the time of this FBS review the brokerage offered five different trading accounts.  The Cent account requires a minimum deposit of $1 and allows you to gain the necessary trading experience on the real account with minimal risks. You can trade using any robots and strategies without any restrictions. Leverage is 1:1000 and there is a floating spread.

Account Types
Account Types

The Micro account has a minimum deposit of only $5 and a leverage of 1:3000. Spreads are fixed and start at 3 pips. The minimum deposits for the Standard, Zero Spread and Unlimited accounts increase slightly till $500. FBS has also launched an ECN account that is the closest to real market trading conditions. It has many possibilities and freedom of action for professional traders.

Floating spreads start from -1 pips and fixed spreads from 0 pips. A segregated account is also available with FBS whereby 70% of your funds can be stored in a personal bank account where the funds receive a safety guarantee. This allows you to deposit only 30% of your total money while trading 100% of it in unlimited trading conditions.

In addition, there is a demo account for traders who are just starting out in Forex. All you need to start trading is to select one of the trading accounts and define an initial account balance. You can practice your trading in the FBS demo account with virtual funds without the risk of losing any of your money. Since a time frame for the use of the demo account was not indicated, I assume one can use it for an unlimited amount of time.

A clear comparison chart accompanies the descriptions of the accounts.

Bonuses/Promotions

There were several bonuses available when doing this review.  For example, every deposit into any of the accounts traders can get up to a 100% bonus. There was also a $123 deposit bonus.

An additional $15 per transaction is offered as a "Cashback" which includes daily guaranteed payments, quick and convenient withdrawals without restrictions and includes a Cashback even for losing trades.

What makes this promotion interesting is the calculator that accompanies the offer. By entering the average total volume for transactions in the table, traders can see exactly what their rebate will be.

We were also interested in the “Lot of Apples” promotion which began on September 16th, 2014 and is still running. In this trading contest, traders can win a prize such as iPhone Plus just for placing a trade. Further information on how this worked was not provided.

FBS also has a contest for users of their demo account which runs every two weeks. The goal here is to finish with the highest balance which 5 top prizes totaling $1,000. 

Education

FBS offers a range of educational material including regular market analysis and several trading calculators.  Textual guides are suited to traders’ different levels and cover a wide range of topics, though the articles are fairly simplistic in nature.  The company’s FAQ section also contains useful information that can help traders trade successfully.  

Trader's Calculator
Trader's Calculator

Deposits/Withdrawals

Accounts can be funded in a variety of ways such as bank wires, credit cards, WebMoney, Neteller and a number of other online payment systems.

For “Cent” accounts, the minimal deposit is 1 USD; for “Micro” accounts, 5 USD; for “Standard” – 100 USD; for “Zero Spread” and "Unlimited" accounts -  500 USD and 1000 USD for “ECN” accounts.

The minimal withdrawal amount for bank wire is 200 USD; for all the other payment systems it is 1 USD.

Customer Support

FBS Chat support is available 24/7. Clients also can contact an FBS representative by phone to several international numbers or request a call back from the website. You can send an e-mail to the company’s support team.The website is available in Arabic, Chinese, English, Indonesian, Malay, Korean, Thai, Vietnamese, Spanish, Portuguese, French, Japanese, Urdu, Lao, Bangla, Turkish, Burmese, German, French, and Italian.

Conclusion

FBS is an international broker that offers CFD trading to mostly Asian countries. The choice of different trading accounts, including a demo account, is commendable and the use of the MT4, MT5, Multiterminal and webtradingplatforms offers something for everybody.

Advantages

  • Choice of Several Accounts
  • Regulation
  • Demo Account

Disadvantages

  • High spreads on some accounts
Review info :
Broker reviewed : FBS Rating : 8.9 out of 10
Reviewed By : Review Date :