FBS Forex Broker Review

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FBS is an award-winning and one of the leading Forex broker established in 2009 by FBS Markets Inc. AmongFBS the awards bagged by FBS is Best Customer Service Broker Asia 2016 and Highly Recommended Broker Insurance of the Year in Indonesia. 

They are highly known and is commendable because of the wide choice of trading accounts including a demo account that they offer. They have taken a big step in 2017 as FBS got its license to operate in Cyprus which is one of the most popular destinations for Forex brokers. 

Basic Information on the FBS Forex Broker

  • Regulator – IFSC, CySec
  • Trading Platforms – MT4, MT5, Multiterminal Trading, Web Trading
  • Available since – 2009
  • Minimum deposit- $1
  • Leverage – Up to 1:3000
  • Spreads (& commission)– -1 pip ($6 per lot)
  • Minimum trade size– 0.01 lot 
  • Demo account – Available
  • Mobile Trading– Available
  • Trade Signals- e-mail alerts, website personal page, Automated Trading
  • US Clients– No
  • Islamic Account– Yes

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Trading Platform

There are two trading platforms which clients can choose from. The first one is Meta Trader 4 or MT4 and the other one is Meta Trader 5 or MT5. Both of these platforms are accessible via web, desktop or mobile. 

Known as the most popular Forex trading platform, MT4 is equipped with a variety of technical indicators, extensive backtesting activity, advanced charging tool and a number of Expert Advisors to guide you. Meta Trader 4 had the capacity to allow clients to fully automate their trades. MT4 can be accessed in desktop and has also its mobile version. 

Meta Trader 5 or MT5 was not maximized before due to some problems, but more clients are using it now as the problem has been solved. Furthermore, there will no longer be updates issued in MT4 as MT5 will be the leading platform to be used.

Mobile Trading

The mobile trading of FBS allows clients to trade and monitor orders with the use of their mobile phones. This means that they can access their account wherever they are, even with the absence of a desktop. It is a lot more convenient especially for clients who have a lot of things to do. 

FBS Account Types

There are 6 different accounts that clients can choose from which all offer market execution. 

1. Cent Account – requires $1 minimum deposit with a minimum trade size of 0.01 lot and maximum leverage of 1:1000. The average spreads and commission are 2 pips. 

2. Micro Account – requires $5 minimum deposit with a minimum trade size of 0.01 lot and a maximum leverage of 1:300. The average spreads and commissions are 3 pips, fixed. 

3. Standard Account – requires $100 minimum deposit with a minimum trade size of 0.01 lot and a maximum leverage of 1:300. The average spreads and commissions are 0.9 pips. 

4. Zero Spread – requires $500 minimum deposit with a minimum trade size of 0.01 lot and a maximum leverage of 1:3000. The average spreads and commissions are 0 pips, fixed + $20 per slot. 

5. Unlimited – requires $500 minimum deposit with a minimum trade size of 0.01 lot and a maximum leverage of 1:500. The average spreads and commissions are 1.1 pips. 

6. ECN – requires $1000 minimum deposit with a minimum trade size of 0.01 lot and a maximum leverage of 1:500. The average spreads and commissions are form-1 pip + $6 per lot. 

Furthermore, FBS clients can either choose from fixed and variable spread, commission-free trading or zero spread plus commission. FBS also have their VIP Services and Islamic accounts which clients can avail. 

In addition, FBS offer deposit insurance for clients under Cent, Micro and Standard accounts. You can claim this deposit insurance as long as you have met the required number of lots to be traded. The insurance amounts between 10% – 100% of what you have deposited. 

Demo Account

FBS offering a demo account is a great way for clients to start a Forex career. The demo account allows clients to try out the Forex market with the use of virtual money using real market data. This feature gives clients the opportunity to learn how to trade easier and faster without having to risk their actual capital.

Minimum Deposit

For as low as $1, you can already open your own FBS account. With just a dollar, you can already have the necessary trading experience with your very own and real account with a little or minimal risk only. Compared to other Forex trading brokers, FBS definitely offers the lowest initial deposit to start with. 

Payment Methods

FBS payments can be made through the use of major credit cards (Visa, Visa Electron, Master Card), Be taller, WebMoney, Perfect Money, FBS Asia Exchanger, bank wore, Skrill, OKPAY and YuuPay. 

Maximum Leverage

FBS has a maximum leverage of 1:3000 which is considered one of the highest levels of leverage in the Forex trading industry. This is an attractive deal, but one should also remember that a higher leverage is equal to higher risk. It is then advised that as a trader, you should be careful enough for lesser risk.

Spreads and Commission

In FBS, an ECN account has a negative spread which is -1 pip with a commission of $6 only. The best spreads in FBS is on ECN and Unlimited Account. 

Regulation & License

FBS under FBS Marketing Inc. is regulated by IFSC with the license number IFSC/60/230/TS/17 and CySec with license number 331/17. 

Both agencies have a strict and strong regulation which means that clients are protected alongside with a fast and hustle free financial transaction. 

Customer Service

FBS offers 24/7 customer support. In as much as clients can also get in touch with an FBS representative through phone calls, clients can also contact FBS via email or through the website which is available in different languages.

Benefits of Trading with FBS 

  • As one of the leading Forex trading, FBS offer clients an increased security measure for their personal information and trading is much faster and easier. 
  • Free traders tools including economic calendar and forex calculator
  • Seminars are organized for traders
  • Free tips and video lessons available for traders

Pros:

  • Demo account 
  • A number of platforms 
  • Low minimum deposit
  • Leverage Up to 1:3000

Cons:

  • High spreads on some accounts 

Conclusion

With more or less 9 years in the trading industry, it can be said that FBS is a commendable broker which is also seen with the awards that they are reaping. Its wide variety of accounts and reasonable trading conditions, FBS is a must try for both beginners and experts.

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