FBS Review
FBS is an award-winning forex and CFDs broker with experience of over a decade in the trading industry. The company is regulated by IFSC and CySEC and provides negative balance protection to its clients. The broker offers multiple trading platforms (FBS Trader, MT4 & MT5) and variable, fixed, and zero spread accounts. 24/7 customer support is there to resolve the problems and answer questions.
FBS is an award-winning online forex broker based in Belize. The broker has been providing trading services to retail and professional traders since 2009 in over 150 countries. Tradestone Limited is the parent company of the broker and is based in Cyprus. FBS is authorised and regulated by Top-Tier Cyprus Securities and Exchange Commission (CySEC). Negative balance protection and segregated clients’ funds also provide a comparatively safe environment for traders.
FBS offers hundreds of trading instruments from popular asset classes such as forex, commodities, stocks, indices, and cryptocurrencies. In addition, the broker offers very reliable trading conditions in terms of minimal trading costs (tight spreads and low commissions). Moreover, the clients of FBS can choose a proprietary FBS mobile trading platform or may go for the other options such as MetaTrader 4 and 5 from MetaQuotes along with fast order execution speeds.
FBS offers very lucrative educational and research resources. Dedicated trading guides, tutorials, economic calendar, and TV channel help FBS’s clients in their trading journey. In addition, demo accounts also facilitate beginners and news comers to the broker to better understand the mechanics of trading in real-time with virtual money. Moreover, copy trading helps investors to invest in professional traders’ portfolios. On top of that, FBS offers multiple payment options to facilitate transaction processing worldwide.
FBS has over a decade of expertise in providing trading services under strict top-tier regulations. Negative balance protection helps to ensure the safety of clients’ funds. FBS offers trading with STP and ECN executions along with tight spreads and low commissions. The broker also offers demo trading and Swap-free Islamic accounts. There are multiple account types to meet the needs of different traders. Multiple payment options with low minimum deposit requirements facilitate traders to deposit and withdraw their funds globally without any extra cost from the broker. The FBS mobile trading platform and MT4 & MT5 are available as trading platforms with STP/ECN executions. Moreover, for traders who don’t have much time to execute trades or investors who want to invest in strategies, FBS offers copy trading solutions. In addition, FBS offers demo accounts if you want to practice trading online and see what they have to offer before making a commitment. For clients of the Islamic faith, Swap-free Islamic accounts are also available. With lots of educational resources and research tools, the traders can learn more about the markets and improve their skills. Finally, the broker offers 24/7 customer support via live chat, email, and phone.
On the other hand, FBS does not offer its services to clients from a few countries, such as the US. In addition, the broker is not a publicly-traded company, so its financial information is not available. Moreover, the broker does not have a banking licence. There is also an inactivity fee charged from dormant accounts.
Let’s look at the summary of the advantages and disadvantages of FBS.
FBS offers hundreds of trading instruments from various asset classes such as forex, commodities, stocks, indices, and cryptocurrencies. However, it would be nice to see bonds, options, and ETFs as well on FBS’s product portfolio. If you are looking for these asset classes, you might want to have a look at AvaTrade as an alternative option.
FBS Instruments Summary
| Instruments | FBS |
|---|---|
| Forex | ✓ |
| Stocks | ✓ |
| Indices | ✓ |
| Commodities | ✓ |
| Cryptos | ✓ |
| Options | x |
| Bonds | x |
| ETFs | x |
| CFDs | ✓ |
Commission and Spread Fees
FBS offers multiple flexible account types to meet the needs of different traders with different investment capital and trading strategies. They offer both variable and fixed spread accounts which is great and not something many other brokers do, CAPEX being another option. FBS also offers zero spread accounts which can be attractive to those of you who are scalper or plan on running automated systems. Here are different account types and their trading conditions.
Cent Accounts: Traders can enjoy commission-free trading with spreads as low as 1.0 pip on Cent accounts. This is a popular account type for anyone who want to start trading in a real environment without taking much risk.
Micro Account: On Micro accounts, traders can enjoy commission-free trading with spreads starting from 3 pip.
Standard Account: Standard accounts provide traders with very good trading conditions such as tight spreads starting from 0.5 pip and no commission fee.
Crypto Account: Crypto accounts carry tight spreads starting from 1.0 pip and minimal commission of 0.10% per round.
Zero Spread Account: With this account, day traders can enjoy zero pip spreads, but the commission starts from $10 per standard lot per round which is quite high compared to other brokers such as IC Markets.
ECN Account: ECN accounts have spread as low as 0 pips and commissions starting from $6 per round trip.
| Fee | Cent | Micro | Standard | Crypto | ECN | Zero |
|---|---|---|---|---|---|---|
| Commission (per standard lot per side) | $0 | $0 | $0 | 0.05% | $3 | $10 |
| Spreads from | 1.0 | 3.0 | 0.5 | 1.0 | 0 | 0.0 |
Deposit and Withdrawal Fees
FBS does not charge any deposit from its clients for using any payment method except electronic payment systems. In addition, there is a certain withdrawal fee for all payment options except local bank transfers. However, some currency conversion charges might be applied from the service provider.
Inactivity Fees
FBS charges a $5 inactivity fee from dormant accounts after six months of no trading activity. If you think that you may be frequently taking a break from trading, then you might want to consider a broker without any inactivity fees such as Trade Nation.
FBS provides its clients with multiple trading platform options such as the FBS mobile trading platform and MT4 & MT5, both which you can also get free access to through other brokers such as FXDD. In addition, the broker provides useful trading tools such as trading calculators and copy trading. Let’s have a look at each platform and tool in more detail.
FBS Trader
This is FBS’s mobile trading platform for trading on the move. The software is available for both iOS and Android smartphones, and it can be downloaded from their respective app stores. It offers a basic and user-friendly UI. It is compatible with the MetaTrader platforms and may be used to fund and withdraw trading accounts. The trading app provides access to live quotations, charts, and data. The software makes it simple to initiate, modify, and close trade positions.
Here are the salient features of FBS Trader:
- Trade Forex, stocks, commodities, energy, indexes, and cryptocurrencies in a single application.
- With detailed charts and unique tools, you can analyse price fluctuations and make educated decisions. Everything you need, including indicators, is right here.
- Maintain continual access to your orders while keeping an eye on profitability. You may deposit and withdraw money 24 hours a day, seven days a week. With over 100 payment ways available, you may pay whenever and wherever you choose.
- Each asset has detailed information.
- Easy-to-use risk management tools.
- Crosshair with a pricing display that is both instructive and entertaining.
- Active orders are displayed directly on a chart.
MetaTrader 4
MetaTrader 4 is available from FBS for Windows and Mac, as well as Android and iOS mobile platforms. MT4 puts a trading experience at your fingertips, allowing you to advance as a trader from anywhere and at any time. I personally feel like this is the ideal platform for new traders who want to trade manually or run automated systems. I have used it for many years and never felt the need to switch to anything else as it does everything that I need it to and more. It is packed with trading tools and you can get a lot more from the MQL marketplace which is conveniently accessible from directly within the platform.
Here are some of the main features of MT4:
- Data encryption between the client terminal and the platform servers.
- Expert advisors (EA) and scripts can be created, purchased, and used.
- Tools for technical analysis: 50 different indicators and graphing tools.
- Trading with a single click and news embedded.
- There are four sorts of pending orders.
- Position hedging.
- Support for VPS services.
MetaTrader 5
MetaTrader 5 is a more advanced trading platform that incorporates the best practises of its predecessor but takes things to the next level. It provides a broader range of analytical tools, the ability to trade equities and commodities in addition to currencies, and more periods. Whilst both of the MetaTrader platforms maintain the same look and feel, MT5 has a lot more functionality. Either way, I think both platforms are great and can be suitable for traders of all experience levels, from the beginners to the pros.
Here are some of the core features of MT5:
- Options for creating technical indicators, trading robots, and utility apps have been expanded.
- 90 indicators and charting tools for technical analysis.
- Trading with a single click and news embedded.
- There are six different categories of pending orders.
- Hedging Positions on the Economic Calendar.
- There are 21 chart periods.
- Support for VPS services.
CopyTrade
With FBS CopyTrade, you can join the ranks of other investors and create your own bespoke portfolio according to your own preferences. This social trading platform allows you to follow and mimic the methods of the other traders. You can have a large professional community on your side 24 hours a day, seven days a week. I think is good to share ideas and learn from likeminded traders. However, if you are specifically looking for a social trading platform, then eToro are the industry leader in that respect.
FBS CopyTrade is a social trading platform that allows investors to duplicate the trades of other skilled traders who want to share their techniques. While the experienced trader earns a commission, the investor might replicate traders. Experienced traders are ranked by the CopyTrade platform based on their success.
Investors may then profile their data and make a decision. The first investment is $100. CopyTrade is exclusively accessible through its mobile app, which is available for iOS and Android smartphones. The app allows you to personalise your favourite traders, start and stop copying a trader with a single click, and interact with the support staff. It should be emphasised that previous performance is no guarantee of future results.
Here are the key features of CopyTrade for investors:
- Examine the list of top traders, examine their trading history, and choose the most successful ones to emulate.
- Favorite the top traders, keep track of their development, and network with them.
- Take action when traders are performing well and adjust the timetable based on your needs.
- Enter the market with no prior financial understanding.
- Relax while others work.
- Invest just in one tap!
- Deposit and withdraw funds using a number of payment methods.
- Keep track of your progress and manage your risks.
- When necessary, increase your investment amount.
Virtual Private Server (VPS)
A Virtual Private Server (VPS) can run your trading platform remotely 24 hours a day, seven days a week, providing lower latency, a steady internet connection, and overall stability. Traders that utilise complex trading systems and automatic trading systems (EAs) frequently insist on employing VPS to overcome the problem of a constant connection. Because the trading platform operates remotely on a VPS, you do not need to keep it running on your PC. Clients may use FBS to set up a free VPS server. You can also get a free VPS via Blueberry Markets if this is something that you are looking for.
FBS Platforms Summary
| Platform | FBS |
|---|---|
| MetaTrader 4 (MT4) | ✓ |
| MetaTrader 5 (MT5) | ✓ |
| cTrader | x |
| Proprietary | ✓ |
| Desktop | ✓ |
| Web | ✓ |
| Mobile | ✓ |
| Social Trading | ✓ |
| Other | x |
FBS provides a ton of educational resources and research tools for its clients so they can improve their trading skills. However, dedicated third-party research tools such as Autochartist and Trading Central are not offered by FBS. If you want access to some free premium tools for automated market analysis then Forex.com are worth consideration. That being said, let’s have a look at each resource briefly.
Economic Calendar
This is a useful tool for performing fundamental analysis. This calendar may be seen on the FBS Markets website as well as the MT5 trading platform. It displays the date and time of an upcoming event. These occurrences are quite likely to have an influence on the forex/CFD market. The calendar displays analyst estimates as well as a history of previous releases. The calendar may be searched using the filters on the right.
Forex Calculators
This is a very handy tool for estimating prospective earnings from trade. You must select an account type, a trading instrument, currency, leverage, and pricing. Based on your inputs, the trader’s calculator estimates your potential profit or loss for the trade.
Currency Converter
This is used to convert one currency to another based on current exchange rates. This is important for traders whose currency is not the same as the currency of the trading instrument. It is also beneficial for traders whose account currency is not the same as their local currency.
Forex Education
FBS emphasises educating its clients. Therefore, the broker provides a ton of learning content in the form of articles and ebooks. The Forex Guidebook is the definitive guide to the world of forex trading. It is organised in the following categories: beginning, elementary, intermediate, and expert traders. The guide is made up of essays, images, and clear illustrations.
Webinars and Seminars
Webinars and seminars are announced on a regular basis. Webinars are becoming increasingly common, with one scheduled virtually every week. Seminars are held in various cities on a regular basis.
Forex News
Every working day, the news is updated. It is classified into four asset classes: commodities, currencies, equities, and the economy. It is great to see a broker provide up to date high-quality market analysis to its traders.
Market Analysis
This area of the website examines certain trading instruments and makes forecasts based on technical and fundamental assessments. Traders are offered trading suggestions to purchase or sell various financial instruments. Prices for ‘take profit’ and ‘stop loss’ are sometimes provided. Because of the volatile nature of trading, there is no assurance of the quality of the analysis provided. I would always do my own market analysis for confirmation before taking any trading signal.
Forex TV
This consists of educational videos with daily and weekly market information. There are videos on daily trading strategies as well as video recordings of previous seminars.
FBS Research and Education Summary
| Resources | FBS |
|---|---|
| Market Analysis | ✓ |
| Guides | ✓ |
| Videos | ✓ |
| Webinars | ✓ |
| Autochartist | x |
| Trading Central | x |
| Economic Calendar | ✓ |
| Other | ✓ |
FBS provides a good range of funding options including wire transfers, debit/credit cards, and electronic payment methods for deposit and withdrawal. However, the broker does not accept cryptocurrency as a funding option. If this is something that you require, then you might want to take a look at Hankotrade as they support various cryptos for account funding.
FBS Funding Summary
| Payment Method | Deposit | Withdrawal |
|---|---|---|
| Wire Transfer | ✓ | ✓ |
| Credit/debit Card | ✓ | ✓ |
| Electronic Wallets | ✓ | ✓ |
| Cryptos | x | x |
FBS is authrosied and regulated by the Cyprus Securities and Exchange Commission (CySEC) and the International Financial Services Commission (IFSC) in Belize.
FBS Regulation Summary
| Regulator | FBS |
|---|---|
| ASIC (Australia) | x |
| IIROC (Canada) | x |
| CySEC (Cyprus) | ✓ |
| SFC (Hong Kong) | x |
| JFSA (Japan) | x |
| MAS (Singapore) | x |
| FINMA (Switzerland) | x |
| FCA (UK) | x |
| CFTC (USA) | x |
| Other (IFSC) | ✓ |
FBS Safety
The Investors’ Compensation Fund provides some type of protection to European clients (ICF). Secure Socket Layer (SSL) technology, which is industry standard, has been applied across all platforms and websites. In addition, the broker claims to have its clients’ funds in separate accounts to avoid misuse.
FBS’s support can be reached via live chat, email, or phone. In addition, there is also a “get a call back” feature.
FBS is a well-established online trading broker that was created with the goal of accommodating all levels of traders and trading styles. It is a regulated brand that has put in place all of the necessary security processes that are required in the online brokerage market. With limitless demo accounts, educational content and a variety of extensive training tools, there is plenty of support for beginners. Live trading on the supplied platforms can begin with as little as $1. Spreads start at 0 pips, and trades are processed in seconds with low slippage thanks to ECN technology. FBS CopyTrade, up to date market analysis, and handy trading tools are also noteworthy features of this broker. Despite this, there are other online brokers who provide a considerably wider range of trading products and lower fees. That being said, I feel that FBS can be a feasible option for beginner traders who want to dip their toes into the market.
