FBS Review 2021 – Read Before You Open an Account

BrokerFBS
Web addresshttps://fbs.com/
Founded in2009
Head officeBelize
Customer servicePhone call
Type of supportEmail, Phone,Chat
LanguagesVI, FR, EN, DE, IT, PT, CN, TK, FN, JP
Minimum deposit€10
Leverage1:30
Demo accountYes
Deposit methods Bank transfer, credit card, Skrill,
Neteller, Perfect Money, Bitwallet
RegulatedYes
Mobile appYes
Tablet appYes
General rating4.1/5

Summary

FBS Markets is an online broker founded in 2009 and based in Belize. The broker specializes in Forex and CFDs and continues to improve its services. Its clients can trade in various markets, including currency pairs, commodities, equities and indices.

FBS’ website and customer service are available in 18 languages. The broker maintains that it has more than 13 million customers worldwide.

FBS is regulated in Europe and its international branch is regulated in Belize. You will therefore benefit from a certain measure of protection of your trading capital.

If you are looking for a simple broker to use and regulated in Europe, FBS will suit you perfectly.

Account opening

It’s easy to open an account at FBS. The process is done entirely online and the broker offers several types of accounts.

FBS offers several types of accounts. There’s six in all. It is important to note that leverage is limited to 1:30 for European customers. However, FBS International customers can benefit from leverage of up to 1:3000. It is important to note that the use of such leverage is excessive and exposes you to rapid capital losses.

  • The Cent account: this account is intended for traders who want to test FBS services without taking much risk. The minimum deposit on this account is only 10 euros for European customers and 1 euro for international customers. You will have a leverage of up to 1:1000. The spread is variable with a minimum set at 1 pip.
  • The Micro account: the minimum deposit for this account rises to 5 euros. Unlike the Cent account, spreads are fixed and are relatively wide since the minimum is 3 pips. The trader can have a leverage of up to 1:3000.
  • The Standard account: this account requires a deposit of 100 euros. It offers a maximum leverage of 1:3000. However, this leverage is limited to 1:30 for European traders, in accordance with the rules in this area defined by ESMA, the European financial markets watchdog. Spreads vary for the Standard account, with a minimum of 0.5 pip for international customers and 1 pip for European customers.
  • The Zero Spread account: this account is intended for traders who want to trade fairly large volumes. There is no spread, but a $20 commission per lot is levied on your open positions. FBS requires a deposit of 500 euros to have the Zero Spread account. Leverage can go up to 1:3000 as for this Standard account.
  • The ECN account: FBS’s ECN account allows direct access to the Forex market. The spread is variable with a minimum of 1 pip. This is very high, knowing that brokers like Pepperstone have a near zero spread on the EUR/USD. In addition to the spread, FBS charges a commission of $6 per position ($3 at opening and $3 at closing). The leverage for the ECN account is limited to 1:500.
  • The Demo account: We liked the fact that FBS offers a demo account for each type of account. This allows you to test the trading conditions of each account. You will get an idea of FBS commissions and spreads before choosing the account that suits you best.

You can open as many accounts as you want: demos as real.

After you open a real account, you will go through the KYC before you can credit your account. FBS will ask for proof of identity and residence. This step is necessary before trading on the platform of a regulated broker.

Deposit and withdrawal

FBS offers various payment methods. In addition to traditional methods, online portfolio deposits are possible: Skrill, Neteller, Perfect Money and Bitwallet.

The cards and wallets you will use to credit your account must be in your name. We were surprised to see that FBS does not accept bank transfers for international customers. However, this deposit method is less and less used because it is quite slow and unsuitable for depositing small sums.

Transfers are still accepted for European traders. They also benefit from free deposits and withdrawals for any method used.

FBS therefore offers 5 methods of instant deposit. However, withdrawals can take up to 2 days. Here are the options available to you:

Credit and debit card: only VISA and Mastercard cards are accepted. FBS pays the deposit fee, so it’s free. Withdrawals, on the other hand, are accompanied by $1 commissions.

Skrill: The minimum amount for a deposit per Skrill is $10. The withdrawal is accompanied by a 1% fee to which must be added 0.29 euro.

Neteller: This service also requires a minimum deposit of $10. The withdrawal fee is 2%. Withdrawals by Neteller are quite limited, since you cannot withdraw more than $30 through this.

Perfect Money: There are no limits to using this service and the withdrawal fee is only 0.5%.

Bitwallet: Only yen deposits (JPY) are allowed.

Trading costs

Trading costs at FBS are not competitive. The minimum spread is around 1 pip.

Apart from zero Spread and ECN accounts, it’s only the spread that applies to your positions. It is quite broad, and we find that FBS is not one of the most competitive brokers in this area. Here, for the Standard account, is the typical spread of the few most traded assets.

AssetsSpread in  pips
EUR/USD1,1
GBP/USD1
XAU/USD10
USD/JPY2

Trading platform

The broker offers different versions of Metatrader to trade the available instruments. FBS also has its own platform and copy trading app.

FBS offers Metatrader’s various trading and analytics platforms: versions 4 and 5.  Webtraders and mobile apps are also available.

Metatrader 4 (MT4)

FBS Metatrader 4 (MT4)

MT4 is the most popular platform when it comes to trading Forex. It is a complete software of trading and technical analysis. A graphics window is built into it to allow you to analyze all the assets listed on FBS. The most used technical indicators, as well as drawing tools are present on the platform, so that you can conduct your analyses and go directly to the purchase without leaving the platform.

MT4 has a graphic trading feature called one-click trading. In other words, you can open your positions directly from the graph, and manage the risk by manually moving the stop loss and take profit lines.

The power of this platform is that you can easily automate your strategies with EA or trading bots. You can either use its programming language to create robots or buy them from the MetaQuotes bookstore. It has many free premium trading bots.

Metatrader 5 (MT5)

MT5 succeeds MT4. It has all the features of Metatrader 4 and is more oriented for trading CFDs. It’s a user-friendly and highly customizable platform, like MT4. You can reduce or resize the different windows that make up it, depending on your preferences.

Webtraders

MT4 and MT5 are available in a webtrader version, available directly online, without download. You can access FBS webtraders with the same identifiers as for Metatrader PC versions. Webtraders, however, lacks automated trading features, so you won’t be able to use robots.

Metratrader on mobile

The MT4 and MT5 app can be downloaded from the App Store or Google Play. They are both developed by MetaQuotes. These versions are less equipped than webtraders or MT5 on PC.

However, they remain practical for conducting technical analyses and monitoring the market. A graph is integrated, as well as basic technical indicators and drawing tools. Metatrader’s app is self-contained enough that you can open and manage your positions.

FBS Trader

FBS Trader

This platform is developed by FBS and offers more features than Metatrader’s applications. The broker argues that executing orders is faster and smoother on FBS Trader. It is available under Android and iOS systems. Unlike Metatrader, FBS Trader allows you to make deposits and withdrawals. In addition, you can contact customer support directly from the app.

CopyTrade FBS

CopyTrade FBS

 The broker also has a copy trading platform, which allows investors to automatically track the positions of other more experienced traders. The platform allows you to become a signal provider on FBS. The broker makes a ranking of the best traders over different time intervals: from one week to 12 months.

This allows you to choose the trader profile that matches your expectations. FBS CopyTrade is available for Android and iOS. It is therefore possible to open an account and follow professional traders with your smartphone.

Markets available

FBS offers very few markets to trade compared to its competitors. However, you’ll find all the most traded assets on its platform.

The number of available financial instruments is quite limited on FBS. The broker offers:

  • Forex currency pairs: only 37 pairs are offered. It’s not much. Saxo Bank, for example, offers 182.
  • Commodities: FBS offers only 4 metals. Energy and agricultural products are not available.
  • Stocks: The most traded share are available in the form of CFDs: Facebook, Amazon, Microsoft, etc.
  • The indices: Dax, NASDAQ and S-P500.
Asset classesNumber
Currency pairs37
Metals4
Indices3
Shares32

Research

FBS offers the standard tools to help traders in their decision-making – no special tools are available.

FBS Research

We find a number of analysis tools on the FBS website. The broker offers you a dynamic economic calendar. The economic calendar is an important tool for traders who have a macroeconomic approach to markets. The most important future financial events are listed.

FBS also has a section dedicated to economic news, especially on currency pairs. This section is regularly updated. You can follow the political and economic events that have an impact on the markets. FBS analysts publish, among other things, their technical and fundamental market analyses. The video scans are also published on their YouTube channel, but they are in English.

Customer support

FBS is one of the brokers that offer the best customer support. Support is available in 18 languages and can be contacted by email, phone, or instant messaging.

FBS customer support can be reached 24/7. This is really an advantage over many of its competitors who do not support their customers’ demands during the weekend. The support is available in 18 languages, including English.

FBS can boast being the broker that offers its clients or prospects the most methods of connecting with support. There is an online chat on the site. This is very convenient if you are looking for specific information and can’t find it. The broker is also very active on social networks. You can contact them via Facebook Messenger, Telegram or Twitter.

The broker offers support by email and phone. With regard to the latter, you have the option of requesting to be called back later by an agent. You leave your phone number and when you want to be called back by an agent through a form.

Before contacting the support, your questions may well find their answers on the FBS FAQ, which is in the “about” tab of their site. However, we find that the FAQ is not detailed enough and that many other questions could be answered.

Training

FBS offers training in English, but it is transcribed into various other languages.

The broker offers video training for beginners in Forex and CFD trading. The basic concepts are explained. This training consists of 20 videos that are in English but transcribed in more than a dozen other languages.

FBS also regularly offers webinars in English, especially on technical analysis. You can follow the next webinar by visiting the dedicated page on their website.

Security

The broker is regulated in Europe, notably by the CySec, and it’s customers are protected by the ICF.

FBS benefits from the regulation of two financial watchdogs: the IFSC (International Financial Services Commission) and the CySec. We would have liked FBS to have a licence with the FCA in the UK and ASIC in Australia. But European regulation offers enough protection.

FBS Inc, the international branch is regulated by IFSC in Belize under the number 60/230/TS/18. The broker is also regulated by CySec in Europe, through its European branch FBS Europe. He registered with the organization under number 331/17.

Its clients’ trading funds are segregated. In other words, they are separated from the broker’s equity and deposited in partner banks. FBS will not use your funds for its own investments. These measures are taken to protect clients from possible financial loss from the broker.

FBS is also a member of the ICF (Investor Compensation Fund). This deposit insurance fund protects the deposits of FBS clients in the event that the broker can no longer pay them. European clients are covered by this fund to the tune of 20,000 euros.Another security measure is the use of the Secured Socket Layer (SSL) protocol to ensure more secure transactions on the FBS platform. But that is part of industry standards.

Conclusion

FBS is a serious and regulated broker in Europe. It offers the trading of Forex and CFDs through the various platforms it offers to its clients. They enjoy some protection of their money and can benefit from a good experience and trade well on FBS.

The cost of trading at this broker is not one of the most competitive in the industry, but the broker compensates for this disadvantage by diversifying its deposit methods and trading platforms.

FAQs

Is FBS regulated?

Yes. FBS is regulated by CySec.

Can I trade cryptocurrencies on FBS?

No, FBS does not currently offer cryptocurrency trading.

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