FBS Review 2024
Website: www.fbs.com
Min. Deposit: US$ 5
Leverage: 1:3000
Trading Platforms: MT4, MT5, FBS trader
Regulation: CySEC, FSC, FSCA, ASIC
Headquarters: Belize and Cyprus
Founded: 2009
Regulatory Licenses:
- Tradestone Limited -authorized by CySEC (Cyprus) registration no. 353534
- Intelligent Financial Markets Pty Ltd - regulated by the ASIC (Australia) license number 426359
- FBS Markets Inc. - authorized by FSC (Belize) registration no. 000102/460
- TRADE STONE SA (PTY) LTD - authorized by FSCA (South Africa) license no. 0885
Updated on May 21, 2024
Quick Links
In our comprehensive review process, we meticulously evaluate forex brokers based on a wide range of criteria. Our team conducts in-depth research, comparing over 1000 brokers to ensure accuracy and reliability in our recommendations. We assess each broker's regulatory compliance, trading conditions, platforms, customer service, educational resources, and overall trading experience. This holistic approach helps us provide traders with well-rounded and unbiased evaluations.
FBS stands as a renowned Forex Broker and CFD trading platform, established in 2009 by a group of investors with a keen interest in trading research and technical analysis. Currently, FBS boasts an international presence in over 150 countries. The brand encompasses several entities, including FBS Markets Inc. (licensed by FSC), Tradestone Ltd. (licensed by CySEC), Intelligent Financial Markets Pty Ltd. (licensed by ASIC), and TRADE STONE SA (PTY) LTD. (licensed by FSCA). Being regulated across various legislative environments, FBS offers commendable trading capabilities, equipped with valuable tools and authorized services, thereby enhancing its development.
Pros
FBS has established a stable trading environment over many years.
Provides competitive trading conditions on MetaTrader 4 and 5.
Offers low spreads, as identified in our research.
Features a comprehensive education section.
Cons
Trading instruments are restricted to Forex and CFDs.
Trading conditions vary across different entities; we recommend registering with the European or Australian entities for greater transparency.
FBS is a legitimate trading platform and not a scam. The brand name 'FBS' is operated by Tradestone Limited, a company registered in Cyprus. It's an investment firm that is regulated by the EU and adheres to the Markets in Financial Instruments Directive (MiFID), with registration under the Cyprus Securities and Exchange Commission (CySEC). This European regulation is a significant indicator of FBS's credibility and commitment to adhering to stringent financial standards.
Additionally, FBS has expanded its regulatory compliance by obtaining licenses from the Australian Securities and Investments Commission (ASIC) and the Financial Sector Conduct Authority (FSCA) in South Africa. These are well-respected regulatory bodies, and their oversight provides an added layer of trustworthiness to FBS's operations.
However, it's important to note that FBS also operates an additional entity in Belize, a jurisdiction known for being an offshore zone. The regulatory environment in Belize, overseen by the Financial Services Commission (FSC), is generally less stringent compared to European or Australian standards. The FSC’s role in Belize is primarily focused on company registration rather than rigorous financial regulation.
Despite this, the combined regulatory oversight from CySEC, ASIC, and FSCA contributes significantly to FBS's reliability as a broker. These regulations ensure that FBS complies with international financial standards, providing reliable and fair-trading conditions to its clients.
Leverage offers the potential to magnify trading sizes by allowing traders to multiply their initial balance. This can open up vast opportunities for higher gains, but it also comes with significant risks. Our findings on FBS reveal that: trading with a European entity permits a maximum leverage of 1:30 for major currency pairs; Australian and South African entities also allow a maximum of 1:30; International FBS entities offer high leverage ratios of up to an almost fantastic 1:1000 or sometimes even 1:3000. However, it's crucial for traders to learn how to use leverage intelligently to not only pursue gains but also mitigate the risks of rapid money loss. High leverage, while appealing, may not be the best option for beginners and is typically sought after by professional traders.
FBS provides a selection of account types catering to various trader needs, including Standard Account, Cent Account, and Pro Account. Our research highlights the Pro Account as an ideal choice for beginners due to its lower requirements and associated risks. FBS offers both demo and live trading accounts, ensuring a fit for traders at any experience level. However, it's important to note that trading conditions and offers may vary depending on the entity with which you register. International traders can enjoy the benefits of diverse account types, very high leverage up to 1:3000, deposit bonuses, and more, while also being mindful of the risks associated with high leverage.
How to open a trading account with FBS ▲
Opening an account with FBS is streamlined and user-friendly. Follow these steps:
Enter your personal details including name, email, and phone number.
You will receive a confirmation link via email to continue the process.
Once you have access to your online account management, you may choose to start with a Demo Account.
Select the account type you wish to open and choose your base currency.
Complete an online questionnaire detailing your trading experience and expectations.
Upload required documents for proof of address and identity, adhering to regulatory requirements.
Submit your application and allow a few working days for document verification and account approval.
Proceed with depositing funds.
Decide on the products you wish to trade, such as FX, stocks, or others, and commence trading.
When it comes to the range of market instruments available, FBS offers a competitive selection that caters to various trading preferences. Notably, the broker excels in providing favorable conditions for trading in Forex and Metals, facilitated by rapid execution speeds through the STP model. The instrument score for FBS stands at 4.3 out of 5, reflecting a well-rounded offering for Currency Pairs and CFDs. However, it's worth mentioning that the variety of instruments is somewhat limited, with approximately 40 currency pairs, including exotic ones, and 6 Indices for CFD trading, alongside Metals and Energies. For traders with a preference for Stocks, Futures, or a broader range of instruments, exploring additional brokers, such as AvaTrade, might be advisable.
FBS incorporates its fee structure mainly within the spread, meaning traders will incur a spread cost for each order placed. Additionally, one should consider overnight fees and potential withdrawal fees. After an extensive review of over 1000 brokers, FBS's fees have been deemed competitive, earning a score of 4.0 out of 5. This evaluation takes into account the overall cost-effectiveness of fees, including some free deposit and withdrawal options. Nevertheless, traders should review the terms and available methods related to the specific entity they are operating under to fully understand the fee structure.
FBS offers two main account types, each with different spread options: a Standard account with spreads starting from 0.7 pips and a Cent account featuring tighter spreads. In our analysis, the typical spread on the Pro account for the EUR/USD pair was found to be 0.5, while the Cent Account featured a spread of 0.9 pips for the same pair. Internationally, FBS provides ECN accounts that offer raw spreads and charge a commission per lot. The broker's spreads are highly competitive, with a score of 4.5 out of 5, ranking them as some of the lowest in the industry for Forex trading. However, conditions and availability may vary depending on the specific entity. Traders should also account for the FBS overnight fee or swap for strategies that involve holding positions for more than a day, with each instrument having its unique ratio.
In the realm of initiating live trading, depositing funds is a prerequisite. FBS shines in this aspect by offering a vast array of over 100 payment systems, although this might predominantly pertain to its international entity due to stricter financial transaction regulations enforced by the EU. The array of FBS funding methods received a commendable score of 4.0 out of 5. The minimum deposit requirement is notably low, enabling traders to start with virtually any amount, and the international trading platform supports numerous methods with minimal fees. However, in top-tier jurisdictions, the options are mainly limited to traditional methods such as Bank Wire and Cards. Here are some noteworthy points regarding FBS funding methods:
Payment Methods
Major cards Visa and MasterCard
Ewallets Neteller and Skrill
Wire transfers
Crypto wallets
Minimum deposit ▲
For Cent account users, the initial minimum deposit is $10, making it an attractive option for novice traders. The Standard Account requires a $100 initial deposit, which is also relatively modest, catering to more experienced traders. Interestingly, for Crypto account holders, the minimum deposit is just $1.
Most other brokers have a minimum deposit of $500.
Regarding withdrawals, FBS offers a good selection of options with no fees for both withdrawals and deposits. However, it's advisable to verify with your payment provider for any potential fees. Withdrawal requests are processed within 1-2 business days by FBS, though additional processing time by the payment provider should be anticipated.
FBS stands out in the industry by offering a robust trading platform through the market leaders MetaTrader4 and MetaTrader5, as well as its proprietary FBS Trader. The availability and quality of these platforms garnered a rating of 4.5 out of 5. FBS's offering includes popular MT4 and MT5 platforms along with its own developed FBS Trader, which provides a simpler yet powerful alternative.
Web Trading
Web Trading offers the convenience of trading without the need for downloads or installations, a feature available at FBS as well. However, Web Traders typically have fewer tools and customization options.
Desktop Platform
MT4 is available as a desktop platform, ideal for active traders and professionals due to its extensive add-ons and options. The MetaTrader5 version, offered to international FBS clients, boasts even more advanced features and trading opportunities.
Mobile Trading Platform
All platforms include a mobile trading app, enabling trading on the go. Additionally, FBS Trader is a highly regarded social trading platform that allows users to follow professional traders or strategies, ideal for investors or beginner traders seeking to enhance their knowledge.
Look and Feel
MetaTrader's design is renowned worldwide for its simplicity, ease of navigation, and comprehensive tools. The MT4 platform offers a wealth of features, advanced charting, customization, and auto-trading capabilities, accessible on various devices.
FBS provides 24/7 customer support accessible through live chat, international phone lines, email, and even social media. The quality of FBS customer support has been rated as 3.5 out of 5. While the team is generally responsive and provides relevant answers, there have been some negative experiences reported by traders.
Pros
24/7 client support
Quick response and relevant answers
Cons
Some negative experiences from traders
FBS offers an impressive range of educational materials and programs designed to improve trading skills, acknowledging the crucial role of knowledge in trading success. The FBS learning center includes webinars, forex guidebooks, tips for traders, video lessons, and glossary materials. The overall rating for FBS education stands at 4.5 out of 5, highlighting its comprehensive and well-organized nature.
In addition to the research tools integrated into the MetaTrader platform, FBS provides extra resources such as a Forex Calculator, Economic Calendar, and a currency converter directly on its website. Moreover, FBS offers in-house designed Daily Market Analysis and operates Forex TV, streaming the latest news and updates to the platform. These features significantly enhance traders' knowledge and decision-making abilities.
Conclusively, FBS presents a compelling choice for forex traders with its diverse account types, advanced trading platforms, and supportive customer service. The broker's reputation is positive among traders, and it actively engages in social activities. With competitive trading costs for Forex instruments and its efficient STP Broker execution model, FBS facilitates excellent trading conditions. Based on our analysis and expert opinions, FBS is particularly suited for:
Beginning Traders
Forex Traders
Traders who prefer MT4 or MT5 platform
EAs running
Technical Trading
Low Deposit Trading
News Trading
Traders with a Variety of Trading Strategies
