FBS, a forex broker operating since 2009, has attracted over 27M users by offering decent features such as leverage up to 1:3000, high-speed order execution from 0.01 second, and a minimum deposit of $5.
It's also regulated by CySEC and FSC. So, can you trust this brokerage? In this in-depth FBS broker review, we will delve into its features, specifications, and pros & cons to provide you with a balanced and detailed view of the company.
FBS Forex Broker; Company Information & Regulation
FBS is a solid company in the online forex trading industry, operating as a broker since 2009. With over a decade of experience, FBS has established itself as a trusted name in the forex world.
But what really sets FBS apart is its rock-solid regulatory framework. The company is owned and operated by Tradestone Limited, a Cyprus-based entity licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 331/17.
It's also regulated by the Financial Services Commission of Belize (FSC).
FBS Summary Of Specifications
In this section, we will have all the key specifics of the broker at a glance. FBS specifics table:
Broker | FBS |
Account Types | Standard |
Regulating Authorities | FSC, CySEC |
Based Currencies | USD, EUR |
Minimum Deposit | $5 |
Deposit Methods | Bank Transfers, Payment Systems, Credit/Debit Cards |
Withdrawal Methods | Bank Transfers, Payment Systems, Credit/Debit Cards |
Minimum Order | 0.01 Cent Lot |
Maximum Leverage | 1:3000 |
Investment Options | No |
Trading Platforms & Apps | MT4, MT5, Mobile App |
Markets | Forex, Energies, Indices, Shares, Metals |
Spread | From 0 Pips |
Commission | From $0 |
Orders Execution | Market |
Margin Call/Stop Out | 40/20% |
Trading Features | EAs, Hedging |
Affiliate Program | Yes |
Bonus & Promotions | No |
Islamic Account | Yes |
PAMM Account | No |
Customer Support Ways | Live Chat, Phone Call, Email |
Customer Support Hours | 24/7 |
FBS Trading Account Features
This broker previously offered 6 different account types. Unfortunately, this has changed, and you only have one trading option. Trading account specifications:
| Standard Account |
Min. Deposit | $15 |
Leverage | Up to 1:3000 |
Max. Open Positions | 500 (200 Pending Orders) |
Order Volume | From 0.01 to 500 Lots |
Pros and Cons
Brokers with great features come with some negative points, too, similar to any average brokerage. Let's break them down:
Pros | Cons |
Low Minimum Deposit | No Service Available For Some Countries |
Regulated By A Top-Tier Authority | Only One Trading Account Offered |
Fast Order Execution (0.01 Seconds) |
|
User-Friendly Mobile App |
|
Registration & Verification on FBS: Complete Guide
Creating an account on the brokers takes little time. Here's a step-by-step guide to help you through the registration and verification process:
- Navigate to the official FBS website and click on the "Open Account" button;
- Enter your email address and name. Alternatively, register with a Google, Facebook, or Instagram account;
- Use your temporary password, or create one according to the conditions;
- Check your email inbox and click on the link to confirm your email.
Now, your account is created. Fully verify your account by uploading the required documents in the "Profile Settings" section, or you can enter your date of birth and country of residence for "express verification".
Platforms & Apps on FBS
This broker offers 3 platforms on different devices and operating systems. We will discuss each platform in the next parts.
Metatrader 4
The classic MT4 platform is available for desktop, web, and mobile devices. It offers:
- 50 indicators and tools for charts;
- 4 types of pending orders;
- Support for VPS hosting;
- One-click trading.
Links:
Metatrader 5
The next-generation MT5 platform builds on MT4's features and adds:
- More timeframes and indicators;
- Economic calendar;
- More types of pending orders.
Links:
FBS Mobile App
The broker's proprietary mobile application is "the app that makes you stronger". It offers:
- Fast registration and straightforward verification
- Simple deposits
- Access trading and account stats with one tap
- Over 90 indicators for technical analysis
Download Links:
Spreads and Commission on FBS
In brokers, trading accounts usually differ in terms of commissions and spreads. FBS only offers 1 account. Trading costs on FBS:
- Spread: Floating from 0.7 pips
- Commission: None
This company does not charge the user for any withdrawal commissions. However, payment systems could take a fee for deposits and withdrawals.
FBS Payment Options
Deposit and withdrawal methods on this broker vary from one region to another, but in most countries, these options are available:
- E-payment Systems: Skrill, Neteller, Sticpay, Perfectmoney, Fasapay, etc.
- Bank Transfers: Depending on the region
- Credit/Debit Cards: Visa, Maestro, Mastercard, etc.
FBS Copy Trading & Investment Options
Previously, the brokerage had a specific app designed for copy trading, but it was shut down on September 2022. Currently, FBS broker does not offer any facilities or platforms for PAMM accounts and copy trading. Check the official website for any updates regarding this matter.
Tradable Markets and Instruments on FBS
FBS offers over 550 trading instruments overall. Trading markets:
- Forex: Most traded currency pairs
- Metals: Gold, Silver, etc.
- Indices: Major global stock indices
- Shares: Stocks from major and minor markets
- Energies: Crude Oil, Natural Gas
FBS Bonuses and Promotions
Based on our investigations, this brokerage does not seem to be offering any bonuses and promotions at the moment. Since it may change in the future, always check out the official website and channels for any updates.
Customer Support Services
One of the strengths of FBS broker is its 24/7 customer service offering. It also supports multiple languages, such as English, French, and German. The contact channels are as follows:
- Live Chat: through the website or social media accounts
- Email: [support@fbs.com]
- Phone Call: +357 22 010970
Based on reports and investigations, the team responds quickly to messages and inquiries.
Which Countries are Restricted from FBS Services?
While FBS operates globally, it cannot provide services to some countries due to certain regulations, international sanctions, etc.. Notable restrictions include:
- United States
- European Union countries
- United Kingdom
- Myanmar
- Israel
- Iran
Always contact customer support to confirm availability in your country.
FBS Trust Scores & Reviews
In this section, we examine the broker's user score and experts' evaluations of it on reputable websites such as Trustpilot. Some of the available trust scores:
- Trustpilot: 4.3 out of 5, based on over 1400 reviews
- ForexPeaceArmy: 2.527 out of 5, based on more than 360 user reviews
- REVIEWS.io: 4.3 out of 5, based on around 110 reviews
FBS Educational Section Review
The broker's website provides enough educational content to tutor everyone to trade successfully. It consists of these types of materials:
- Video tutorials
- Webinars
- E-books
- Trading glossary
- Economic calendar
- Market analysis
The education section on FBS is divided into different levels for beginners, intermediate clients, and advanced users.
Conclusion and final words
Many consider FBS a reliable broker because of its CySEC and FSC licenses and successful track record. The broker's features, such as leverage up to 1:3000 and a minimum order volume of 0.01 lot, add to its quality of services.
Overall, this could be a great choice for you. However, first, you need to check if your country is not on the restriction list.
