FBS is an online broker platform specializing in forex trading. The website is owned and operated by FBS Markets Inc, a company based in Belize. FBS was launched in 2009 and since then it claims to have serviced up to 4 million traders. The website is available in over 120 countries and has received numerous awards and accolades over the years.
By using FBS you will have the opportunity to trade forex in a professional and precise manner. The service is suited for both beginners and experts. Novice traders will have an abundance of educational material to improve their skill and understanding of the market.
FBS is regulated by the International Financial Services Commission of Belize. The IFSC is the main financial regulatory body of Belize, a small country located in South America. It is responsible for the oversight of all financial companies and brokers operating in the jurisdiction of Belize. This governmental institution has licensed many brokers and exchanges since it was founded in 1999. So far, companies and individuals licensed by the IFSC have an excellent track record and abide by the agency’s Code of Conduct.
This trusted brokerage also services customers from major European markets under the supervision of the Cyprus Securities and Exchange Commission (CySEC). The CySEC license enables the broker to accept trades from all member states of the European Union (EU) and the European Economic Area (EEA).
In 2020, FBS expanded its operations to two new markets after acquiring local licenses from the Financial Sector Conduct Authority (FSCA) of South Africa and the Australian Securities and Investment Commission (ASIC). The trading services provided by the broker are off-limits to clients who reside in any of the following countries: Iran, Israel, Myanmar, the UK, and the USA. Customers looking to sign up from EU member states must do so from the .eu domain.
Trading InstrumentsAt FBS, users have a variety of instruments at their disposal that they can utilize to engage in online trading. Contracts for difference (CFDs) are available for forex currency pairs, commodities like precious metals and crude oil, stocks, and indices. The broker also caters to the needs of cryptocurrency investors with a varied selection of crypto CFDs. Customers can count on fast order execution and can anticipate no requotes whatsoever. FBS belongs to the category of No Dealing Desk (NDD) brokers and works with multiple liquidity providers, giving traders direct access to interbank prices.
Forex, abbreviated from foreign exchange, is the largest and most liquid market in the world. It is a completely decentralized market that works through a network of banks and financial institutions. The currency trade has been around for decades and in the information age, it has become larger than ever before. Trillions worth of United States dollars are exchanged on a daily basis and the annual volume of the forex market is larger than the GDP of the US.
FBS offers you the chance to participate in this giant venture by allowing you to trade in over 30 different currency pairs, including majors like EUR/USD, GBP/USD, and USD/JPY. Traders can also dabble in minor pairs like EUR/GBP, EUR/AUD, AUD/CAD, and GBP/AUD. Customers with higher risk tolerance can diversify their investment portfolios with volatile exotic pairs, including CNH/JPY, EUR/TRY, USD/BRL, and USD/SGD.
The spreads can be fixed or variable depending on what type of account you set up. Trading currency pairs with no spreads is also possible provided that you register a Zero Spread account, in which case a nominal commission per lot is in place instead.
Precious metals are some of the most sought-after hard commodities. They have a high market capitalization and investing in them is a very lucrative way to earn a profit. FBS allows you to trade in several precious metals such as gold, silver, palladium and platinum, depending on what kind of account you have opened.
Commodity traders can go long or short at highly competitive pricing but the exact spreads are again commodity-specific. The minimum volume for trading gold and silver against the US dollar is fixed at 0.10 lots. Apart from precious metals, FBS takes trades on a limited range of energies including Brent crude oil (XBR/USD), natural gas (XNG/USD), and West Texas Intermediate crude oil (XTI/USD).
The broker imposes no commissions on commodity trades conducted via the MetaTrader 4 platform and profits from the spreads instead. We failed to spot any agricultural products like wheat, cocoa, and soybeans on the list of available markets but hopefully FBS will add them in the future. Lots sizes vary across the different types of hard commodities.
EU retail customers can enhance their exposure by using maximum leverage of 10:1 for crude oil, silver, and natural gas and 20:1 for gold. The leverage caps for traders based outside the EU are significantly higher, ranging from 50:1 all the way up to 3,000:1.
At FBS, traders have the opportunity to speculate with the rising or declining stock prices of over 130 major companies operating on the North American and European markets, including heavyweights like Walmart, Twitter, Disney, Facebook, Porsche, Amazon, Google, and Microsoft. Minimum spreads range from 1 to 100 points, depending on which stocks you speculate with.
In addition, the brokerage imposes a 0.7% commission on top of the spread on all open stock positions. The commission applies to the order value which, in turn, depends on the contract’s size, the opening price, and the trade volume expressed in lots. EU residents who register with FBS can leverage their stock trades at a maximum ratio of 5:1. Customers based outside the Old Continent will benefit from higher leverage of 100:1.
FBS offers a somewhat limited selection of stock indices, allowing customers to generate profits by speculating on the rising and slumping index prices. The brokerage offers contracts for difference for a dozen or so indices at the time of publication, including the Australia 200 Index, Nasdaq 100, S&P 500, UK 100, and the France Stock Market Index (FR40).
Indice spreads typically fluctuate from 14 to 1,800 and no commission is charged on trades conducted via the MT4 platform. Customers can trade during the main market hours, which are index-specific. Indice trading is possible on business days only since the markets close for the weekend. To protect EU retail traders from running an excessive risk, FBS enforces leverage caps of 20:1 for major indices like the US100 and 10:1 for non-major indices like the ES35.
FBS provides customers with a nice variety of tradable cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Monero, Ripple, Stellar, and Solana. It is worth noting that crypto trading at FBS is possible only via MetaTrader 5 and the broker’s proprietary platform, the FBS Trader. Both platforms provide a robust choice from over a hundred cryptocurrency pairs and coins.
The brokerage gives you the option to trade crypto coins against each other, against fiat currencies like USD, EUR, AUD, and GBP, and against precious metals like gold and silver. If you are new to crypto trading, however, we recommend you opt for the FBS Trader since it is significantly user-friendlier than MetaTrader 5. Retail customers from Europe can leverage their crypto positions at a maximum ratio of 2:1. Crypto traders who set up professional accounts have access to a higher leverage of 5:1.
PC / MAC
At FBS, you can engage in various trades by using MetaTrader 4 (MT4) or MetaTrader 5 (MT5), two third-party platforms developed by the Cyprus-based software company MetaQuotes. You can either install your chosen version on a desktop computer or use the browser-based WebTrader if you prefer. Trading on the fly is also possible via native mobile apps compatible with iOS and Android devices. Whichever option you choose, you can count on optimal trading speed and high efficiency.
Using MetaTrader4 (MT4) you will have access to more than 40 different assets available for trade, including currency pairs, CFDs and metals, as well as low spreads. This platform is compatible with a number of different operating systems, such as Windows, Mac, Android, and iOS. It also has the option to manage multiple accounts at the same time using the Multiterminal program.
You can download the desktop version of MT4 straight from the website of the brokerage. MetaTrader 4 is more suitable for rookies and is equipped with various helpful features, including single-click trading and embedded news. Platform users have the opportunity to create, purchase, and implement expert advisors. These trading ‘robots’ can monitor your preferred market based on preset parameters and automatically open positions when they identify favorable market conditions.
The platform supports several types of pending orders, including buy limit, sell limit, buy stop, and sell stop. It allows you to hedge your positions and supports VPS services. MT4 is also great for performing technical analysis as it comes with 50 technical indicators and various charting tools, enabling users to plan their trading strategies ahead.
MetaTrader5 comes with its own unique advantages. For starters, you will have at your disposal three different types of charts and technical analysis tools. The platform supports 90 technical indicators. Additionally, you can also benefit from the optional micro-lot accounts and hedging positions. It also gives you access to VPS services at all times.
The MT5 platform can be downloaded on four different operating systems, more specifically Windows, Mac, Android, and iOS. It is worth pointing out that this piece of software is more advanced since it supports a broader range of analytical tools and financial instruments, cryptocurrencies included. MT5 also provides a wider choice from 21 timeframes and six types of pending orders, including buy stop limit and sell stop limit. The built-in economic calendar facilitates detailed fundamental analysis based on the latest economic news events.
FBS customers who insist on enjoying greater flexibility can conveniently execute their trades via MetaQuotes’ browser-based terminal that does not require additional downloads. WebTrader offers roughly the same functionalities as the downloadable versions of MT4 and MT5, the chief difference being you can use it on any desktop device.
Registered customers must simply enter their existing FBS login credentials and they are good to go. The browser-based platform allows you to trade currency pairs, indices, stocks, and commodities. Similarly to the downloadable software, WebTrader supports one-click trading, chart trading with different timeframes, and various tools for technical analysis like the above-mentioned technical indicators.
Additionally, the broker offers an award-winning app compatible with Android 5.0 and iOS 12.0. FBS Trader was named the best mobile trading platform at the 2020 Smart Vision Investment Expo, which is anything but surprising when we take into account the numerous benefits it offers. It covers more than 150 financial instruments across different categories like stocks, foreign exchange, indices, and hard commodities.
The proprietary app is highly intuitive and powerful. The interface is simplified to accommodate traders from all experience levels. This lightweight software gives users access to real-time statistics via price charts and enables them to modify their orders with a few taps. Multilingual live chat assistance is available around the clock. Professional traders who install the app can activate the cashback feature to receive up to 20% of the spreads for each trading position they open.
Traders who register live accounts with FBS can fund them with a varied range of secure payment solutions, including Visa, Mastercard, Maestro, Neteller, Sticpay, and Skrill. Deposits initiated via cards and virtual wallets take place in real time and the funds will instantly hit your live balance. The broker does not impose additional charges on depositing customers.
Wire transfer deposits are also supported but you must allow 3 to 4 business days for the funds to arrive in your FBS account. Deposits start at as little as $1 but the exact minimums vary depending on the type of account you open. Customers who set up ECN accounts, for example, are bound by minimum deposit requirements of $1,000.
Most available account types support two base currencies, namely USD and EUR. Traders who transact in their national currencies may incur conversion fees. Those who set up crypto accounts can deposit and withdraw in USDT as their base currency. Speaking of withdrawals, you can initiate them with roughly the same range of payment solutions, including cards, wire transfers, and digital wallets.
Unlike deposits, which are largely instant, withdrawals from your FBS account require more time to process but you can generally anticipate receiving your funds within no more than 2 business days. Customers who register through the .com domain may have to wait between 7 and 10 business days when they cash out via wire transfers. Minimum withdrawals start at $1 only. Keep in mind the broker reserves the right to impose processing fees on EU customers who cash out funds from their accounts without trading.
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FBS offers its users a variety of account types, each one meant for a specific kind of trader. They vary in terms of minimum deposits, leverage caps, spreads, and order volume. Novices who are just learning the ropes of online trading can build their knowledge and experience by creating free demo accounts that are funded with a virtual balance of $1,000.
Beginners can choose from standard, cent, and crypto demo accounts. Customers who are confident enough in their expertise and skills can switch to real-money trading via standard, cent, ECN, crypto, zero spread, and micro accounts. Professional accounts are available to those who fulfill the eligibility criteria. Interest-free trading is an option for Muslim customers who abide by the Sharia laws.
The Standard Account is meant for the average trader. It has a minimum deposit of $1, a spread from 1 pip, maximum leverage up to 3,000:1, as well as an order volume between 0.01 and 500 lots. This type of account does not incur commissions and the maximum open positions and pending order limit is set at 200.
Standard accounts are the ideal option for beginner and medium-level traders looking for optimal conditions. It is important to mention that customers who sign up from EU member states have access to considerably lower leverage caps of up to 30:1. The threshold is even lower for more volatile instruments like cryptocurrencies, stocks, and indices. Standard accounts allow you to trade over 30 currency pairs, a dozen of hard commodities, over 120 stocks, and 11 indices.
The cent account is a natural choice for beginners. It comes with a minimum deposit requirement of $1, a variable spread that starts from 1 pip, maximum leverage of up to 1,000:1, and an order volume between 0.01 and 1,000 cent lots. Cent accounts are completely commission-free and support straight-through processing (STP) order execution. They allow for no more than 200 open positions and pending orders at a time. Other than that, account holders have access to the same range of financial instruments as those available in standard accounts.
Micro accounts have a minimum deposit requirement of $1, as well as a fixed spread from 3 pips. Additionally, micro account holders can benefit from leverage of up to 3,000:1 and an order volume ranging from 0.01 to 500 lots. Much like the previous two options, micro accounts are commission-free and the maximum open positions and pending orders are again limited to 200. The only downside of opening a micro account has to do with the limited range of tradable instruments. Customers who opt for this account type can trade with 31 currency pairs and two precious metals only.
Zero Spread Accounts
The zero spread account is meant for traders who like to trade at the fastest possible speeds. Traders must deposit at least $1 to open this type of account. Just like its name implies, the spread is fixed at zero pips. Unlike the previous account types, this one features a commission which starts at $20 per lot.
Zero spread account holders can trade with maximum leverage of 3,000:1, while the order volume ranges from 0.01 to 500 lots. Traders can have up to 200 open positions and pending orders at the same time. This type of account also uses straight-through processing order execution but is available only to those who use the MetaTrader 4 platform.
ECN account holders enjoy the full benefits of the ECN technology. The main benefit associated with this account is that it facilitates trades that take place on an electronic communication network, hence the abbreviation ECN. ECN order execution ensures greater levels of transparency, greater efficiency, and deeper liquidity since traders have direct access to the markets. It also reduces trading costs because requotes usually do not occur in this case.
This type of account requires a larger initial deposit compared to the rest as customers must transfer at least $1,000 to their balance. Better suited to the needs of professional traders, it features floating spreads from 1 pip and a commission of $6 per lot.
Account holders can trade with leverage of up to 500:1 and have their pending orders and open positions restricted to 200 at the same time. The allowed trading volume ranges from 0.01 to 500 lots. Additionally, ECN accounts can only trade with 28 currency pairs, as opposed to the 31 pairs and 2 metals available in zero spread and micro accounts. Only MT4 traders can set up accounts with this type of order execution.
Professional accounts are intended for traders looking to open larger-volume orders and dabble in algorithmic trading. Customers who qualify for this type of account will benefit from speedy order execution of 0.2 seconds and direct access to the interbank markets. Spreads are variable rather than fixed and start at 0.3 pips. This type of account allows traders to open as many positions as they like and there is no ceiling on the maximum number of pending orders, either.
FBS charges no commissions on professional traders, who will also benefit from a significantly higher leverage of 2,000:1 provided they have registered through the international domain. Professional traders based in EU member states have access to a maximum leverage ratio of 500:1.
Minimum deposits for professional accounts start at $1,000. One thing to keep in mind is that not everyone is eligible for opening a professional account. The broker will prompt you to go through a survey to evaluate your trading proficiency and will allow you to register a professional account only if you satisfy the criteria.
FBS accommodates customers of the Muslim faith by granting them the option to create Islamic accounts where no swaps or interest is charged on positions that remain open overnight. Interest-free trading is possible only via standard and cent accounts, however. Account holders will benefit from speedy order execution, access to more than 60 financial instruments, and variable spreads that start from 1 pip.
If Islam is the official or predominant religion in your country, you must navigate to the settings of your newly registered account to turn on the swap-free trading feature. Muslim customers who reside in European countries should email the customer support team at firstname.lastname@example.org to request interest-free trading.
FBS has an incredibly large customer support team to accommodate its immense user base, spread out across twelve offices in seven different countries. The countries in question are Egypt, Indonesia, Malaysia, Thailand, China, South Korea, and Myanmar. Each office can be reached via email and telephone. The broker’s support staff also assists customers via Facebook Messenger, Line, WhatsApp, Viber, and Telegram.
Customers who are not dealing with urgent issues can email the support representatives at email@example.com or firstname.lastname@example.org, depending on their country of residence. Two telephone lines are available for the main office in Limassol, +357 2201 0970 and +357 2531 3540. Traders in need of help can also schedule a callback from a support agent at a time convenient for them.
Additionally, you can always engage in live chat with a company representative directly from the website. The company also has a presence on social media so you might also get your answers there. Support is available 24 hours a day, 7 days per week. Live chat assistance is provided in multiple languages, including French, German, Spanish, Portuguese, and Italian. The support agents go above and beyond to ensure the highest level of customer care and usually respond to client queries within seconds. The company seeks to provide its users with the best possible support service and we must admit it has certainly accomplished much in this respect.
FBS is a trusted online brokerage overseen by several respected financial regulators like ASIC, FSCA, and CySEC. It facilitates trading on margin with a nice range of financial instruments at spreads that generally align with those of the competition. Customers face a broad choice of account types and trading platforms, including the ever-popular MT4 and MT5.
The broker accommodates beginners with detailed guidebooks, video lessons, training courses, and webinars that can significantly improve their learning curve and enhance their chances of turning a profit. Seasoned traders will benefit from daily news, detailed market analysis, and a fast-updating economic calendar with key economic releases. All these qualities render FBS a suitable online brokerage for traders of all experience and expertise levels.