FBS Review 2024 | Can This Broker Be Trusted?

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FBS is an international Forex broker with a decade-long presence in over 190 countries. Regulated by the Cyprus Securities and Exchange Commission (CySEC), FBS offers a versatile trading experience. Traders can access various account types, including Cent and Standard accounts with low minimum deposits. With over 40 international awards and a reputation for flexibility, FBS appeals to traders globally.

Popular user’s questions about FBS:

Can FBS be trusted?

Yes, FBS is a regulated broker, providing services under the oversight of the Cyprus Securities and Exchange Commission (CySEC). This regulatory framework ensures adherence to financial regulations and safeguards client funds.

Is FBS trading real or fake?

FBS offers legitimate trading services in the financial markets. As a reputable broker, it provides a platform for real trading activities, allowing users to engage in genuine trading activities across various instruments.

Is FBS legal in the USA?

FBS does not currently accept clients from the United States. It is essential to check the broker's geographical restrictions to ensure compliance with local regulations.

What are the fees for traders in FBS?

FBS typically does not charge fees for deposits and withdrawals. Traders expenses are primarily associated with spreads and trading fees, providing transparent and clear trading conditions.

Top facts about FBS beginners need to know

FBS, operating globally across 190 countries, has established itself as an international broker with over a decade of experience, boasting approximately 40 international awards. Regulated by CySEC under license number 331/17, FBS offers versatile conditions for Forex trading, extending beyond traditional currency pairs to include indices, futures contracts, exotic currencies, and metals. Particularly prominent in Asian nations like India, Malaysia, and Indonesia, FBS appeals to traders seeking flexibility and comprehensive trading opportunities.

Diverse payment options

FBS stands out for its extensive array of over 200 deposit and withdrawal methods. From traditional bank transfers and credit/debit cards to cryptocurrency wallets and various online payment systems, users benefit from unparalleled flexibility in managing their funds.

Various account types

For those keen on thoroughly exploring the trading platform, FBS provides various avenues. Traders can begin with a free demo account to acquaint themselves with the platform. Moreover, the cent account option allows users to initiate trading with a minimal deposit of $5, facilitating fee-free trading with leverage of up to 1:1000.

Is FBS safe?

The Cyprus Securities and Exchange Commission (CySEC) regulates FBS, instilling confidence in traders by ensuring that the broker conducts financial activities in strict compliance with established regulations. This regulatory oversight plays a pivotal role in defining the rights and obligations of both clients and the company, fostering a secure trading environment.

Segregation of client deposits

FBS adopts a practice where client deposits are kept separate from the broker's funds. This ensures that clients' funds are not utilized by the broker for its operational activities, adding an extra layer of security.

Negative balance protection

Traders on FBS benefit from negative balance protection, a mechanism designed to prevent their account balances from going into negative, safeguarding them from potential financial losses.

Dispute resolution with independent oversight

In the event of disputes, FBS engages an independent agent for resolution. This impartial intervention ensures fair and unbiased resolution processes, enhancing the transparency of dispute resolution.

Insurance via Investor Compensation Fund

FBS membership in the Investor Compensation Fund serves as a safety net for clients. In cases where the broker faces bankruptcy or is unable to fulfill its obligations, clients are eligible for compensation, offering an added layer of financial security.

FBS pros and cons

Trading with FBS offers distinct advantages and some limitations to consider:

Pros

Negative balance protection

FBS prioritizes the security of its traders by providing negative balance protection, ensuring that losses do not exceed the invested capital.

Diverse trading instruments

FBS stands out for its extensive range of trading instruments, allowing traders to diversify their portfolios and engage in various markets.

24/7 customer support

FBS demonstrates commitment to customer service with round-the-clock support. This ensures that traders can seek assistance or resolve queries at any time, contributing to a smoother trading experience.

Cons

No cryptocurrency trading

One notable limitation of FBS is the absence of cryptocurrency trading options. Traders interested in digital assets may find this restriction restricting their investment choices.

Lack of auto copying

FBS does not currently offer auto-copying features, which may be a drawback for traders seeking automated strategies or the ability to mimic the trades of successful investors.

Absence of PAMM accounts

FBS does not provide Percentage Allocation Management Module (PAMM) accounts. This could be a disadvantage for traders looking for a managed account option where experienced traders handle their investments.

Why choose FBS?

FBS emerges as an appealing choice for traders seeking manual trading and expert advisor utilization. While the platform lacks passive investment options like PAMM accounts or automated copying of trades, it compensates with an extensive array of trading instruments. Traders on FBS can engage in a number of currency pairs, including exotics, indices, metals, and CFDs, providing a diverse portfolio.

FBS’s affiliate programs

FBS introduces a range of affiliate programs, fostering additional income avenues for traders, SEO specialists, and influencers. The Cooperation program offers rewards for each attracted client, with income linked to the client's deposit amount and the option to earn a percentage of trades. The CPA program caters to bloggers and marketers, enabling income generation through banner placements and advertisements. The Introducing Broker (IB) program allows affiliates to open branches, manage business processes, and earn income based on individual conditions, supported by the broker's developmental assistance.

Trading conditions

FBS presents enticing trading conditions on a global scale. With a minimum deposit of EUR 10, a leverage of 1:3000, and 24/7 support, the brokerage company caters to a diverse range of traders. Offering popular and exotic currency pairs, indices, futures, and metals as trading instruments, FBS ensures a comprehensive trading experience. Traders can opt for Islamic accounts, adhering to Sharia law. The brokerage company accommodates various trading strategies, from robot trading to news-based approaches and intraday, medium-term, and long-term strategies. FBS's quick order execution and relatively low spreads enhance the overall trading experience.

Various platforms and analytical tools

Traders using FBS can use MetaTrader 4 and MetaTrader 5, available on desktop and mobile platforms for both Windows, MAC, Android, and iOS. The proprietary FBS mobile platform caters to Android users, with an iOS version anticipated soon. FBS offers robust analytical services, including Forex News, Forex TV, an economic calendar, daily analytics for fundamental and technical market insights, and Forex calculators for precise trading calculations.

Key features of FBS

FBS fee structure

FBS operates as a market maker/dealing desk broker, wherein they act as the counterparty to clients' trades, and trading fees are integrated into the spread.

The spread, denoting the difference between the bid (sell) and ask (buy) prices, is a critical factor for active traders. FBS offers narrower spreads, particularly advantageous for cost-effective market entry and exit, especially notable in popular currency pairs like EUR/USD.

In our assessments, FBS demonstrated better-than-average spread costs for major currency pairs, while overnight swap fees were found to be at an average level. Notably, FBS imposes a low inactivity fee of 5 EUR per month for accounts dormant for 180 calendar days.

FBS adopts a customer-centric pricing approach, as evidenced by the absence of deposit or withdrawal fees. Moreover, the inactivity fee is minimal, set at just $5.

FBS account types In catering to a wide range of trader needs, FBS presents distinct account types, each designed to provide a unique trading experience.

Cent (Micro) account

This account type is ideal for those who are dipping their toes into the trading waters. With a minimum deposit requirement of €10, traders can commence their journey with a cent account. The floating spread, starting from 1 pip, ensures a flexible trading environment. Traders can engage in a maximum of 400 positions through pending orders, and the transaction volume is capped at 500 cent lots, with a minimum of 0.01 lot. Utilizing market execution, trade orders are swiftly executed in just 0.3 seconds. The substantial leverage of 1:3000 provides ample flexibility to traders navigating the markets.

Standard account

For those seeking standard trading conditions, the standard account mirrors the cent account in terms of its trading dynamics. The primary distinction lies in the minimum deposit requirement, set at 100 euros. This account type operates without the cent denomination, offering traders a seamless transition from the cent account while maintaining identical trading conditions.

FBS customer support

FBS places a strong emphasis on providing round-the-clock assistance to traders, ensuring that support is readily available whenever needed. The support service operates 24 hours a day, seven days a week, demonstrating the company's commitment to being accessible to its global user base.

FBS offers a multitude of communication channels for users to connect with their support team. With options ranging from live chat to email, traders can choose the method that best suits their preferences. The support team is proficient in multiple languages, including English, French, German, Italian, and Portuguese, enhancing accessibility for a diverse clientele. Notably, the company's website hosts a comprehensive FAQ section, addressing common queries and providing users with instant solutions to frequently encountered issues. This resourceful feature reflects FBS’ dedication to helping traders with knowledge and self-help options.

Despite the advantageous features, it's essential to note that accessing the online chat service requires users to input their email addresses. While this might be considered a minor inconvenience, it's a requisite step for initiating real-time communication with the support team. FBS’ commitment to efficient and multilingual support, complemented by readily available FAQs, contributes to a robust customer service framework designed to assist traders at any hour.