If you’re considering using FBS for your trading needs, don’t jump the gun until you’ve read this comprehensive FBS review.
Thanks to their various marketing campaigns, FBS is a well-known broker to all. As of the time of writing, the company claims to provide services in 150 different countries and, more so, to 27 million customers.
Furthermore, we’ll analyze this broker and see why so many people trust them. For clarity, the relevant categories to consider in this FBS review have been segregated into the following subheadings:
- My Findings on The Broker
- Personal Trading Experience on FBS
- Demo Trading on FBS
- FBS Alternatives
Up to $140 BONUS
FBS Review Summary and Rating
Safe and secure broker
Regulated by the CySec and FSC
No copy trading
No PAMM accounts
Educational content is poor
Is FBS a Trusted Broker?
FBS is a well-known broker that traders can trust. The company was founded in 2009 and has held on to its core values till today.
This transparent forex broker has no hidden fees and a regulatory certificate. To be exact, FBS is regulated by the Cyprus Securities and Exchange Commission (CySEC), and its IFSC registration number is 119717 (can be verified).
That aside, they have an ongoing partnership as the sponsor of Leicester Football Club, which goes to showcase their credibility.
Safety is the most important metric for judging a broker. Luckily, this broker delivers on this front.
I cross-checked their proclaimed IFSC number, and it was indeed valid. Moreover, since this broker is registered under a regulatory body, they must look out for their clients on every front.
Security isn’t taken lightly either; the mobile app supports biometrics to ensure only clients can access trading accounts.
While trading accounts can only be withdrawn to a single credit card. This makes it impossible for an imposter to meddle with trading funds.
There are three account options to choose from: Standard, Pro, and Cent, respectively. A suitable choice for each individual might vary depending on capital and flexibility.
Besides, the standard account is more than capable to cater for every trader’s needs. Nonetheless, traders who handle large orders and trade other markets aside from the foreign exchange will find this more attractive.
Zero spreads aside, FBS’s spread starts from 0.5 pips if the floating spread option is picked. On the other hand, a fixed spread of 3 pips will remain the same across the board.
For clarity, floating spreads change depending on the traded pair, usually lowest on EURUSD. In contrast, fixed spread values are constant regardless of the currency pair.
Leverage is unbelievably high, reaching up to 1:3000 if desired. Not everyone needs high leverage ratios, so the broker offers custom options.
Even on the cent account, the minimum lot size achievable here is 0.01 (micro lot). On the flip side, a maximum lot size of 500 lots can be deployed.
FBS’ s Minimum Deposit
The minimum deposit on cent accounts is $10, a well-thought-out figure. Contrarily, the minimum deposit on the standard and pro account is $200.
Aside from the popular Meta Trader platforms, this broker provides a mobile of their own. We all know what we’ve come to expect of the meta trader suite, which is resourceful and reliable.
Sadly, the same can’t be said about this broker’s mobile platform. It has limited functionality, and the analysis of charts isn’t convenient. Additionally, snapshots from the mobile app are attached below.
Finally, copy trading isn’t possible here, and PAMM accounts aren’t provided as an alternative either.
There are two courses with a few modules on the FBS web portal, but there’s no denying they come short here. Articles, weekly insights, e-books, etc., are nowhere to be found.
Unfortunately, support isn’t offered in multiple languages but is reachable even on weekends. Clients can get in touch with permission through several options like mail and phone numbers, but live chat is missing.
Expert Opinion on FBS’s Services
Since it’s a regulated broker, funds are segregated, and negative protection is offered as expected. It is apparent security is a big deal, and measures taken by the broker back it.
Moreover, the web portal has an “analysis and education” tab. Dig in deeper to find courses for beginners, intermediate, and advanced courses.
Unfortunately, the educational resources provided are limited and basic. Overall, it feels like FBS lacks an X factor to consider with the forex brokers.
My Personal Experience With FBS
I noticed once a login on a new IP address is detected, registered card details will have to be provided to verify. It can be a bother sometimes, but it’s secure nonetheless.
In contrast, biometrics on the mobile app makes it convenient to use. But the limited charting tools mean you’re better off using the MetaTrader suite.
Trading With FBS
There are 650+ trading instruments on FBS, with spreads starting at one pip. News and analytics to aid trading are provided daily to ensure traders are current.
Regarding trading contests and bonuses, the withdrawals of profits are never straightforward. There’s always a catch, which isn’t ideal by any means.
Demo Trading With FBS
Using our very own tested and tried Forex bot, we placed numerous trades over a period of time on FBS’s demo account.
Just as this review stated earlier, FBS’s low spread and fees allowed for a 150% return in no time.
After completing this FBS review, if you perhaps feel your search for a trustworthy broker isn’t over, check out our other broker review below!
FBS isn’t available in every country; as of the time of writing, it provides its services in 150 countries.
However, if this broker is available in your region, give them a go via demo or a cent account. This broker doesn’t seem alluring from afar, but as pointed out in this FBS review, its simplicity might be suitable for you.