FBS is one of the most popular online forex brokers, offering trading services to clients from all over the world. With over 20 million registered users, FBS provides access to forex, metals, indices, stocks, and more. But is FBS a good choice for forex trading? This detailed review covers everything you need to know about FBS.
What Is FBS Broker?
FBS is an international online forex and CFD broker founded in 2009. Headquartered in Belize, FBS is regulated by the IFSC Belize. They have over 375,000 active live accounts and process over 1 million transactions daily.
FBS offers trading access across forex, commodities, stocks, indices, precious metals and cryptocurrencies. Some key features include:
Overall, FBS aims to cater to all trader types - from beginners looking to get started with a low deposit to advanced traders seeking high leverage. Their proprietary FBS trading platform and MetaTrader 4 & 5 integration allows access across devices.
Overall summary
In summary, FBS is a long standing broker with extensive experience in online trading. They offer competitive spreads and leverage, a selection of powerful trading platforms, and good support resources for beginner traders. Things that stand out include low minimum deposits, fast executions, negative balance protection and their extensive education center.
While FBS may not have as many advanced features as some larger brokers, their easy to use account options and trader focus provides a great starting place for new forex and CFD traders.
Awards
As a well established broker, FBS has received numerous awards over the years including:
The continued recognition highlights that FBS offers quality services combined with their focus on trader support and education.
Does FBS have a license? How to check license
Yes, FBS is officially licensed and regulated by the IFSC Belize (license number IFSC/000102/310).
The IFSC Belize issues operating licenses and ensures brokers follow strict financial standards. To validate an FBS license:
Checking a broker’s license is important know your funds fall under financial regulations. As FBS is licensed, they must segregate client funds in secure accounts, uphold data privacy policies, meet financial reporting requirements and submit to third party auditing processes.
Being regulated internationally can provide traders an added sense of security in knowing key financial safeguards are place with FBS as a licensed broker.
e advanced traders may want specialized tools only found at bigger brokers.
Overall FBS brings a personal touch in enabling traders to unlock financial markets across desktop, web and mobile platforms. Open your account today if seeking an established broker supporting millions of clients globally.
FBS forex broker review
Market Instruments
FBS offers a wide range of financial instruments for trading, including currencies, stocks, indices, commodities, and cryptocurrencies. Traders can access over 50 currency pairs, including major, minor, and exotic pairs. The broker also offers CFDs on popular stocks like Apple, Google, and Amazon, as well as indices such as S&P 500, NASDAQ, and DAX. Additionally, FBS provides trading opportunities on precious metals like gold and silver, energy products like oil and natural gas, and popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
FBS Commissions and Fees
One of the main reasons traders choose FBS is its competitive pricing. The broker offers low spreads and commissions, making it attractive for both beginner and experienced traders. FBS does not charge any commission on trades made through its Standard, Cent, Micro, Zero Spread, and Crypto accounts. However, there is a commission of $6 per lot for trades made through the ECN and Ultra accounts. This commission is still relatively low compared to other brokers in the market.
Moreover, FBS does not charge any deposit or withdrawal fees, making it convenient for traders to manage their funds. However, keep in mind that your bank or payment provider may charge a fee for transactions, so it's best to check with them beforehand.
FBS Leverage
Leverage is an essential aspect of forex trading, and FBS offers flexible leverage options for its clients. The maximum leverage offered by the broker is 1:3000, which is one of the highest in the market. However, the level of leverage available to you will depend on your account type and the instrument you are trading. It's important to note that while leverage can increase your potential profits, it also carries a higher risk, so use it wisely.
FBS Account Types
FBS offers a variety of account types to cater to the needs of different traders. Each account has its own unique features and benefits, allowing traders to choose the one that best suits their trading style and preferences.
FBS Demo Account
If you're new to forex trading or want to test out FBS's services, you can open a demo account. This account allows you to trade with virtual money, giving you a risk-free environment to practice and learn. The demo account uses real-time market data, providing a realistic trading experience. It's an excellent way to familiarize yourself with the platform and test out different strategies before moving on to a live account.
FBS Standard Account
The Standard account is the most popular account type at FBS. It requires a minimum deposit of $100 and offers fixed spreads starting from 1 pip. This account is suitable for both beginner and experienced traders, as it provides access to all trading instruments and features.
FBS Cent Account
The Cent account is ideal for those who want to start trading with a smaller amount of capital. It requires a minimum deposit of only $1 and offers floating spreads starting from 1 pip. This account is perfect for beginners who want to get a feel of real trading without risking too much.
FBS Micro Account
The Micro account is similar to the Cent account, but it requires a slightly higher minimum deposit of $5. It offers floating spreads starting from 3 pips, making it suitable for traders who want to trade with smaller lot sizes.
FBS Zero Spread Account
The Zero Spread account is designed for those who prefer trading with zero spreads. It requires a minimum deposit of $500 and charges a commission of $20 per lot. This account is ideal for scalpers and high-volume traders who want to minimize their trading costs.
FBS ECN Account
The ECN account is perfect for advanced traders who want direct access to the market without any dealing desk intervention. It requires a minimum deposit of $1000 and offers floating spreads starting from 0 pips. However, as mentioned earlier, there is a commission of $6 per lot for trades made through this account.
FBS Ultra Account
The Ultra account is a premium account that offers the lowest spreads and fastest execution speed. It requires a minimum deposit of $5000 and charges a commission of $6 per lot. This account is suitable for high-net-worth individuals and professional traders who demand the best trading conditions.
FBS Crypto Account
The Crypto account is specifically designed for trading cryptocurrencies. It requires a minimum deposit of $100 and offers floating spreads starting from 1 pip. This account is perfect for those who want to diversify their portfolio and take advantage of the volatility in the crypto market.
FBS Deposits and Withdrawals
FBS deposit methods
FBS offers a variety of convenient and secure payment methods for deposits and withdrawals. Traders can choose from bank wire transfer, credit/debit cards, e-wallets like Neteller, Skrill, and Perfect Money, and local payment methods like FasaPay, NganLuong, and Boleto. The minimum deposit amount varies depending on the account type, but it's generally low, making it accessible for all traders.
FBS withdrawal time
FBS also offers fast withdrawal processing times, with most requests being processed within 24 hours. However, the time it takes for the funds to reach your account will depend on the payment method you choose. E-wallets and local payment methods are usually the fastest, while bank wire transfers may take a few business days.
FBS Trading Platform
The trading platform is the most important aspect of any forex broker as it is where traders execute their trades and manage their accounts. FBS offers two main trading platforms - FBS MT4 and FBS MT5. Both platforms are widely used and highly regarded by traders all over the world.
FBS MT4
FBS MT4 is the most popular trading platform among forex traders, known for its user-friendly interface and advanced features. It offers a wide range of technical indicators, charting tools, and customizable trading strategies, making it suitable for both beginner and experienced traders. The platform also allows for automated trading through the use of Expert Advisors (EAs), which can be created or purchased from the MetaTrader marketplace.
One of the standout features of FBS MT4 is its mobile app, which is available for both iOS and Android devices. This allows traders to access their accounts and trade on-the-go, providing them with flexibility and convenience.
FBS MT5
FBS MT5 is the successor to MT4 and offers even more advanced features and tools. It has a similar user-friendly interface but with added functionalities such as a built-in economic calendar, more technical indicators, and the ability to open multiple order types simultaneously. FBS MT5 also supports hedging, making it a popular choice among traders who use this strategy.
Similar to FBS MT4, the MT5 platform also has a mobile app for traders to access their accounts and trade on their smartphones or tablets.
FBS Customer Support
FBS takes pride in its customer support, offering 24/7 assistance in 19 different languages. Traders can reach out to the support team through live chat, email, phone, or request a callback. The response time is quick, and the support team is knowledgeable and helpful in resolving any issues or queries that traders may have.
Apart from the traditional methods of communication, FBS also has an active presence on social media platforms such as Facebook, Twitter, and Instagram, where traders can get updates and interact with the broker.
Education
FBS offers a wide range of educational resources for traders of all levels. The broker has a dedicated section on its website called "FBS Learn," which provides articles, videos, webinars, and e-books on various topics related to forex trading. These resources cover everything from basic trading concepts to advanced strategies, making it suitable for both beginners and experienced traders.
Additionally, FBS also offers a demo account for traders to practice and familiarize themselves with the trading platforms and strategies before investing real money. This is a great feature for beginners who are just starting and want to gain some experience without risking their funds.
FBS Bonus
FBS offers various bonuses and promotions to its clients, making it stand out among other forex brokers. These bonuses include a welcome bonus, deposit bonus, cashback, and loyalty program. The welcome bonus is available for new clients who open an account with FBS, while the deposit bonus is offered to existing clients when they make a deposit into their trading account.
The cashback program allows traders to receive a percentage of their spread back on every trade, and the loyalty program rewards traders for their trading activity with FBS. These bonuses and promotions not only attract new clients but also encourage existing clients to continue trading with FBS.
Is FBS a good broker? FBS pros & cons
When assessing FBS as a broker, they certainly have a number of positives that support their services and offerings:
Pros
However some drawbacks to consider include:
Cons
FBS legit or scam
With extensive experience and licensing, FBS is considered a legitimate and legal broker. They are not a scam. Points confirming their legitimate operations include:
New traders can feel confident depositing real money with FBS knowing they are not a scam. However as with any broker, traders should still use caution and educate themselves when starting out.
How to forex trading FBS for Beginners
FBS offers an extensive education center to support beginner traders getting started with forex. Key steps involve:
Open a Demo Account
Practice risk-free on a demo account with $10,000 in virtual funds. Focus is learning without real money at stake.
Take the First Steps Course
Learn what moves prices, how to analyze the markets and enter your first demo trades.
Develop a Trading Plan
Set rules around risk management, capital allocation, entries/exits and mental control.
Open a Live Account
Transition to a real money account when consistently profitable on demo trades. Start small with proper position sizing.
Use Limited Leverage
Use lower leverage (e.g 1:50) to minimize risk on real money trades early on. Only increase leverage with experience.
By taking advantage of FBS’ educational resources, new beginners can setup a step-by-step process to effectively learn forex trading basics before risking capital. Patience and practice will pay off.
How to open FBS Account
Opening a trading account with FBS is designed as a quick and easy process done online. Follows these steps:
Step 1) Go to FBS.com
Visit their website and click “Open Account” in the upper right. Ensure you access FBS’ global domain ending .com.
Step 2) Enter Details
Provide some basic personal info such as name, DOB, email, country to kickstart account creation.
Step 3) Confirm Email
Validate email inbox and click confirmation link sent by FBS in the verification email.
Step 4) Set Account Type
Select desired live “Standard” account or demo account type to match trading needs.
Step 5) Make Deposit
Fund live account with minimum $1 deposit to begin trading. Demo accounts get virtual $10,000 balance.
In just 5 steps, new users can setup their own secure FBS trading account in a matter of minutes. Be sure to evaluate different live account types based on factors like spreads, commissions, minimum deposits and leverage to align with personal trading style.
How to download FBS station
FBS offers integrated access to MetaTrader 4 & 5 alongside their proprietary FBS trading platform. Follow these steps to download FBS station:
Access Platform Options
Visit FBS platform page and select desired platform between FBS station, MT4 or MT5 tabs.
Download Platform
Click the “Download” button to initialize installer file download directly to your device.
Install Software
Open download file and walk through installer steps to fully setup preferred platform.
Login to Account
Launch platform icon and input account login details to connect software with FBS account.
Once installed and setup, FBS’ downloadable desktop platforms provide powerful charting and technical analysis tools for seamless trading. Make sure to select right platform for your experience level and device needs.
How to withdraw money from FBS
Making withdrawals from an FBS account involves a few simple steps:
Access Withdrawal Page
Login to FBS account dashboard and click “Withdraw Funds” link in the upper right.
Enter Withdrawal Details
On withdrawal page, input amount to withdraw, select withdrawal method and fill required payment info.
Submit Request
Agree to applicable fees and submit withdrawal request ticket to FBS for processing.
Allow Processing Time
Give about 1-7 days for FBS to process payments depending on method selected.
By setting up withdrawal details in account dashboard, traders can seamlessly take profits or funds out in a few clicks. Be aware that minimum withdrawals and fees apply for certain methods like bank wires and credit cards.
Evaluate FBS Broker with Other Forex Brokers
To get a better understanding of how FBS compares to other top forex brokers in the market, let's take a look at its features and offerings compared to XTB, Exness, and XM.
FBS vs XTB
XTB is a well-established forex broker that offers a wide range of trading instruments, including forex, stocks, indices, commodities, and cryptocurrencies. It also has a user-friendly trading platform and provides excellent customer support. However, when it comes to bonuses and promotions, XTB falls short compared to FBS. XTB does not offer any bonuses or promotions, which may be a drawback for traders who are looking for additional incentives.
FBS vs Exness
Exness is another popular forex broker that offers competitive spreads and a wide range of trading instruments. It also has a user-friendly trading platform and provides excellent customer support. However, unlike FBS, Exness does not offer a demo account for traders to practice and test their strategies before investing real money. This may be a disadvantage for beginners who are just starting and want to gain some experience before trading with real funds.
FBS vs XM
XM is a well-known forex broker that offers a wide range of trading instruments and competitive spreads. It also has a user-friendly trading platform and provides excellent customer support. However, when it comes to educational resources, XM falls short compared to FBS. While XM does offer educational materials, they are not as comprehensive as FBS's resources, making it less suitable for beginner traders.
FAQs
FBS Minimum Withdrawal
The minimum withdrawal amount at FBS is $1 across all payment methods. This makes withdrawals convenient even for traders with small account balances.
FBS Contact Number
FBS provides a global contact number +441256889000 for customer support & assistance. Live chat is also available 24/5.
Minimum Deposit for FBS
The minimum deposit to open a live account at FBS is only $1. This incredibly low amount allows anyone to start trading live markets with FBS without high capital requirements.
Is FBS Good for Beginners?
Yes, FBS offers multiple features making it suitable for new traders:
Combined, these aspects allow beginners to learn the markets cost-effectively at FBS.
How Much FBS Maximum Leverage
FBS offers high leverage up to 1:3000, allowing traders to access greater market exposure. However, leverage over 1:30 carries significant risks, so caution is advised especially for newer traders.
How to Delete FBS Account
To delete an FBS account, clients must submit account deletion request through their Client Area. FBS may request further verification before approving account closure. All open positions must be closed first.
How Much FBS Maximum Lot Size
The maximum lot size possible at FBS depends on the account type. For Micro accounts it is 10 standard lots, while Standard accounts allow a max position size up to 100 standard lots.
What is the Minimum Spread in FBS?
The average variable spreads at FBS are approximate 0.9 pips for major currency pairs on Micro accounts. Average spreads can range from 0.3 pips on Standard accounts during active trading sessions.
How Much Leverage Does FBS Have?
FBS offers leverage up to 1:3000 depending on regulatory requirements in different regions. For example, leverage is limited to 1:30 for EU clients under ESMA regulations. Traders are advised to use caution with high leverage.
What Type of Broker is FBS?
FBS operates as an STP/ECN broker, providing direct access to global liquidity pools without dealing desk intervention in pricing or order execution. This helps ensure transparent trading conditions for clients.
fbs standard account minimum deposit
The FBS Standard account has a minimum deposit requirement of $100. This represents the base account offering normal variable spreads from 0.3 pips and higher volume/leverage limits compared to Micro accounts ($1 minimum deposit).
Conclusion
FBS delivers an accessible trading experience for both new and experienced traders. With competitive spreads and no commissions, they make a great broker to get your start in forex and CFDs.
For beginners, FBS provides superb educational resources and manageable account minimums to slowly grow into the markets properly.
