FBS Review

Company Background & Regulation

Founded in 2009, FBS has rapidly grown into a prominent player in the online brokerage industry, boasting a significant presence across Asia, Africa, and Latin America. The company is headquartered in Limassol, Cyprus, and offers a diverse range of trading services. FBS is known for its commitment to providing accessible trading opportunities, which is evident through its low minimum deposit requirement and a variety of account types tailored to different traders' needs.

FBS operates under the ownership of FBS Markets Inc. and is regulated by several reputable financial authorities. This includes the Cyprus Securities and Exchange Commission (CySEC) under licence number 331/17, the Australian Securities and Investments Commission (ASIC) with ACN 158 432 561, and the Financial Sector Conduct Authority (FSCA) in South Africa under FSP number 50885. These regulatory bodies are known for their stringent compliance requirements and offer a layer of security and trust for FBS clients globally.

Regarding client fund protection, FBS ensures that all client funds are held in segregated accounts, separate from the company's operational funds. This segregation is crucial in maintaining transparency and safeguarding client assets in the event of financial distress. In addition, as a member of the Investor Compensation Fund for clients of CySEC-regulated investment firms, FBS provides an additional layer of security, offering compensation of up to €20,000 per client if the firm becomes insolvent.

FBS's regulatory compliance and commitment to client fund protection make it a reliable choice for traders seeking a secure trading environment. However, potential clients should note that FBS's services are not available to residents of the European Union, United Kingdom, and the United States, limiting its reach in these regions.

Trading Fees & Spreads

Spreads and Commissions

FBS offers competitive trading fees designed to cater to both novice and experienced traders. The broker provides several account types, each with varying spreads and commission structures. The Cent and Micro accounts feature spreads starting from 3 pips, while the Standard account offers spreads from 0.5 pips. For traders seeking the tightest spreads, the Zero Spread account offers spreads from 0 pips with a commission of $20 per lot per side. Additionally, the ECN account provides spreads starting from 1 pip, with a commission of $6 per lot per side.

Overnight Swap Rates

Overnight swap rates, also known as rollover fees, are applied to positions held open overnight. These rates vary based on the currency pair and direction of the trade. FBS provides a detailed swap rate schedule on its website, allowing traders to view potential costs or credits associated with holding positions overnight. The broker also offers swap-free accounts for clients who adhere to Islamic finance principles, ensuring no interest is charged on overnight positions.

Deposit and Withdrawal Fees

When it comes to deposits and withdrawals, FBS does not charge fees for deposits, offering a range of convenient payment methods, including bank transfers, credit/debit cards, and popular e-wallets like Skrill and Neteller. Withdrawal fees vary depending on the method chosen. For example, bank transfers may incur higher fees, while e-wallets generally offer lower costs and faster processing times. FBS aims to process withdrawal requests within 24 hours, although the time it takes for the funds to reach the client’s account may vary based on the payment method.

Inactivity Fees and Fee Comparison

FBS charges an inactivity fee of $10 per month if an account remains dormant for 180 days. This fee is relatively standard in the industry and encourages traders to maintain active trading accounts. Compared to competitors, FBS's fee structure is competitive, particularly for those using ECN accounts where the spreads are tightest. However, traders using Standard accounts may find wider spreads compared to other brokers offering similar services.

When evaluating FBS's fees against other brokers, the low minimum deposit and high leverage levels stand out, particularly for retail traders with smaller account sizes. However, the high leverage can also pose significant risks. Clients must weigh these factors carefully, considering their trading strategy and risk tolerance. Overall, FBS provides a range of options catering to different trading styles and preferences, with fees that are competitive in the industry.

Trading Platforms & Tools

Web Platform

FBS offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are accessible via web browsers. The web-based versions of these platforms provide users with the ability to trade without downloading any software, offering flexibility and convenience. The web platforms are equipped with essential trading tools and features, including access to real-time quotes and financial news. They are designed with user-friendly interfaces that allow traders to execute trades swiftly, manage positions, and analyse market trends effectively.

Desktop Platform

The desktop versions of MT4 and MT5 offered by FBS are more robust and suitable for traders who require advanced functionalities. These platforms are renowned for their comprehensive charting capabilities, allowing users to employ a variety of technical indicators, graphical objects, and analytical tools. Traders can customise their workspaces to suit their strategies, execute a wide range of order types, and benefit from one-click trading. Additionally, these platforms support algorithmic trading and provide access to a variety of trading robots and scripts via the MetaTrader Market.

Mobile Platform

FBS also provides a proprietary mobile trading platform, which is designed for traders who need to manage their portfolios on the go. The mobile app is available for both Android and iOS devices and offers a streamlined trading experience. Users can access live quotes, manage their accounts, and execute trades directly from their smartphones. The app includes essential features such as charting tools, technical indicators, and order execution options, ensuring that traders can make informed decisions regardless of their location.

Charting, Order Types, and Additional Tools

FBS platforms are well-equipped with advanced charting capabilities, providing traders with comprehensive tools for technical analysis. Users can choose from a variety of chart types, including bar, candlestick, and line charts, and can apply numerous technical indicators and drawing tools. The platforms support multiple order types such as market, limit, stop, and trailing stop orders. Additionally, FBS platforms offer price alerts and notifications, ensuring that traders are always updated on market movements. While FBS does not provide an open API for third-party integrations, the MT5 platform allows for algorithmic trading, enabling traders to develop and deploy their trading algorithms.

Account Types & Minimum Deposit

Account Tiers

FBS offers a variety of account types designed to cater to different trading needs and experience levels. These include the Cent, Micro, Standard, Zero Spread, and ECN accounts. The Cent account is ideal for beginners, allowing them to trade with a minimum deposit of just $1. This account type enables traders to start with minimal risk by using cent lots. The Micro account requires a minimum deposit of $5 and offers fixed spreads, making it suitable for traders who prefer predictable trading costs. The Standard account, with a minimum deposit of $100, provides access to competitive spreads and flexible trading conditions.

Features per Tier

The Zero Spread account, which requires a minimum deposit of $500, offers spreads starting from 0 pips, but traders should be aware of the commission charged per lot traded. For those seeking direct access to the interbank market, the ECN account is available with a minimum deposit of $1,000, providing tight spreads and high liquidity. Each account type offers leverage up to 1:3000, allowing traders to maximise their market exposure. FBS also provides an Islamic account option for traders who require swap-free trading in compliance with Sharia law. These accounts are available upon request and are applicable to the Standard, Cent, and Micro accounts.

Demo Account and Deposit Methods

FBS offers a demo account for traders who wish to practice their strategies without risking real money. The demo account is an excellent tool for beginners to familiarise themselves with the trading platforms and for experienced traders to test new strategies. Supported deposit methods for live accounts include bank wire transfers, credit/debit cards, and various e-wallets such as Neteller, Skrill, and Perfect Money. The minimum deposit for account activation varies depending on the account type selected, starting from as low as $1 for the Cent account. These flexible deposit options ensure that traders can fund their accounts conveniently and start trading with ease.

Markets & Instruments

FBS provides a diverse array of trading instruments, making it a versatile choice for traders interested in different asset classes. The broker offers access to the forex market, which is its primary focus, with over 40 currency pairs available. This includes major, minor, and exotic pairs, catering to a wide range of trading strategies and preferences. The availability of such a variety of forex pairs allows traders to explore opportunities across different global currencies.

In addition to forex, FBS offers Contracts for Difference (CFDs) on a variety of asset classes. Traders can access CFDs on stocks, indices, commodities, and cryptocurrencies. The broker provides over 100 stock CFDs, covering major global markets. This includes popular companies from the US, Europe, and Asia, enabling traders to speculate on the performance of individual stocks without owning the underlying assets. FBS also offers CFDs on major global indices, such as the S&P 500, NASDAQ, and FTSE 100, allowing traders to engage with broad market movements.

For commodities, FBS provides CFDs on precious metals like gold and silver, as well as energies such as oil and natural gas. These offerings allow traders to diversify their portfolios and hedge against market volatility. Furthermore, FBS includes cryptocurrency CFDs, covering popular digital currencies like Bitcoin, Ethereum, and Litecoin. This diverse range of instruments supports various trading styles and risk appetites, making FBS a comprehensive platform for traders seeking exposure to multiple financial markets.

Safety & Security

FBS places significant emphasis on the safety and security of client funds. The broker adheres to strict regulatory standards set by its multiple regulators, including the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the Financial Sector Conduct Authority (FSCA) in South Africa. One of the key safety measures is the segregation of client funds from the company's operational accounts. This fund segregation policy ensures that client money is protected and cannot be utilised for any of the broker's financial activities.

Additionally, FBS provides negative balance protection, which is crucial in safeguarding traders from incurring losses that exceed their account balance, particularly given the high leverage levels offered. The broker also implements robust cybersecurity measures to protect client data and ensure a secure trading environment. This includes advanced encryption technologies and multi-factor authentication to prevent unauthorised access to trading accounts. FBS's regulatory history and commitment to security measures help establish trust and confidence among its clients.

Who Is FBS Best For?

FBS is particularly suitable for traders who are looking for a platform that offers high leverage and low entry barriers. The broker's minimum deposit requirement is as low as $1, which is ideal for beginners or those with limited capital. The availability of cent accounts further supports new traders by allowing them to trade with minimal financial risk while gaining experience in the forex market. These features make FBS an attractive option for novice traders seeking to learn and grow their trading skills.

Experienced traders who utilise high leverage strategies may also find FBS appealing, as the broker offers leverage up to 1:3000. This high leverage allows for significant exposure with a relatively small amount of capital, although it also increases the risk of substantial losses. FBS provides multiple account types to cater to different trading needs, including standard, micro, and zero spread accounts. This flexibility in account selection is beneficial for traders who have specific trading requirements or strategies.

Traders interested in bonus programmes and additional trading incentives will find FBS attractive due to its generous bonus and cashback offerings. However, it is important to note that these bonuses may come with conditions that restrict withdrawals, which should be carefully considered. FBS is not available in the EU, UK, or US, making it a more suitable choice for traders in Asia, Africa, and Latin America, where it is particularly popular.

• Ideal for beginner traders due to low minimum deposit and cent accounts.
• Suitable for high-leverage traders seeking leverage up to 1:3000.
• Attractive for experienced traders with diverse account types and trading instruments.
• Appealing to traders interested in bonus programmes and cashback incentives.
• Popular in Asia, Africa, and Latin America due to regional availability and tailored offerings.
• Not suitable for traders in the EU, UK, or US due to regulatory restrictions.