Trade Safe With FBS By Learning All The Facets Of The Company In This FBS Broker Review
- IFSC Regulated
- Welcome Bonuses
- Different Accounts
- MT4 and MT5 Platforms
- No Demo Account
FBS is a Central American Forex broker that has its headquarters in Belize, a country known for its pristine beaches, investment grade properties, and the numerous tax breaks offered to international investors. All brokers in Belize are governed and supervised by the IFSC, which may not be considered to be as effective as its US or European counterparts. Nevertheless, FBS has managed to stay clear of all criticisms by offering its services to more than 2 million clients in 120 different countries across the globe.
FBS has its representative offices across Asia, the Middle East, and Africa, for a total of 11 different locations that have their own local phone numbers, email support, and other dedicated 24X5 customer service channels. Even though the broker has a global presence, the company is unable to cater to traders from the US, Europe, Australia, and some parts of Asia due to the limitations set forward by these countries’ regulatory organizations. Most developed economies of the world have a stringent set of regulatory guidelines that are designed to curb any instances of broker scams. Therefore, these regulators will always instruct its citizens to avoid investing with any company that does not have a satisfactory regulatory compliance.
Immaterial of the regulatory status, FBS continues to be a broker of choice among one of the largest collection of retail Forex traders in the entire market. FBS also has an affinity for providing top-quality services to wealthy and affluent traders from several parts of the Middle East, Asia, and Africa, which has helped the broker to receive a number of awards and recognitions from different agencies across these regions. The success of a broker is determined by its client base and their investments, which is aided in part by the direct investments from high-net-worth investors from growing economies that have an insatiable appetite for the risks in Forex trading.
Features & Advantages Of An FBS Forex Broker Trading Account
FBS is an STP broker that has different account options, which are suitable for both ECN and market maker trading according to individual trader preferences. The minimum deposit requirements for an FBS account ranges from $1 to $500, which is determined according to the trader’s choice of a trading account. Overall, FBS clients can choose from 5 different trading accounts, with the lowest account option being the Cent Account. The Cent account is available for the lowest minimum capital requirement of $1, along with a floating FBS spread of 1 pip and maximum FBS leverage of 1:1000. The Cent account deals in order increments of 0.01 cent lots per trade, with the largest volume being pegged at 1000 cent lots.
If you are looking for a higher amount of leverage, which by the way we do not endorse, FBS offers the Micro account option for a maximum leverage of 1:3000 and a minimum deposit requirement of $5. 1;3000 is certainly the highest leverage that is currently on offer by any Forex trading company in the entire world. Trading on a high leverage implies that a $5 account can face a margin call within a few pips of movement if the trader uses the entire leverage on a volatile currency pair such as the GBP/USD. The FBS spread is also the highest for a Micro account, with nominal spreads for the major pairs starting at 3 pips. The minimum trade size for a Micro account is 0.01 lots, while the maximum order size is 500 lots with the maximum number of open and pending positions being limited to 200.
If you have slightly more capital to spare, you can open an FBS Standard account for $100, which has almost all the same conditions as the Micro account, but with a slightly lower spread that starts at 1 pip. The Standard account may be more attractive than a Micro account, especially since the trader will have more room for controlling their risks, without facing a margin call every time a currency pair moves significantly during a short span of time.
A $500 initial deposit should help you to choose from the top account offerings at FBS, which are the Zero Spread account and the Unlimited account. The Zero Spread offers the promise of zero pip, where all costs of trading are charged as commissions. The broker has different commissions for different currency pairs, with the lowest commission starting from $20 per round lot traded. Other account features such as the leverage and order sizes remain same as the Standard account, with the only visible difference being the cost of trading.
If you really want to invest your money in the market using real ECN trading conditions, the Unlimited Account is the best option, which has spreads starting from 0.2 pips. The Unlimited account has no commissions, a lower leverage of 1:500, and no maximum limits on the number of open or pending orders. Unlike other ECN accounts, the FBS ECN is a no-commission affair, where the broker only charges competitive spreads, making it one of the best ECN options in the market. ECN accounts have no lag in order placement, but traders should accommodate slippages and partial order entries that are common due to the fluctuating volatility in the market.
Another key advantage of an FBS trading account is the FBS bonus. You can start trading with a no deposit bonus that lets you trade with $123 as your beginning trading capital, or you can double your account equity by opting for a 100% deposit bonus. Other FBS promotions include tickets to global events, electronic gadgets, cash rebates on trades, or a grand prize of BMW X3. Traders may also opt for a free VPS server, provided they transact the required minimum number of lots per month.
- Company Information
- Founded In: 2009
- Website: www.fbs.com
- Headquarters: Bangkok, Thailand
- Licences: IFSC
- Phone Support: 081-429-5264
- Instruments: CFDs, Gold
- Trading Features
- Welcome Bonus: $123
- Max. Leverage: 1:3000
- Min. Deposit: $1
- Trading Signals: No
- Mobile Trading: Yes
- Automated Trading: No
Trading Platforms: FBS Forex Mobile App & Trade Insurance
All FBS accounts can be accessed by downloading the MT4 or the MT5 platforms for both STP and ECN trading. Since the MT4 is a popular trading platform, we can’t find any serious faults with the company’s platform picks. Together with a free VPS, traders do get to enjoy low latency and high-speed trading without making any compromises on speed or reliability. High-frequency traders and EA trading will find an FBS account to be a great trading option, especially since the broker offers trader-friendly accounts that support all types of trading strategies. For mobile traders, the broker provides dedicated FBS mobile apps for iOS and Android through the MT4 and MT5 mobile versions developed by MetaQuotes, which is the company that is responsible for designing and developing the MetaTrader interface. MT4 mobile apps are excellent for mobile traders, but you can also choose the MT4 WebTrader if you prefer to trade without downloading or installing any applications.
Trade Insurance is a revolutionary feature offered by FBS, which offers insurance against losses in the market. However, the Trade Insurance policy is not as straightforward as covering your losses by paying an extra premium. Instead, FBS requires traders to pay more in terms of spreads, where the trade will only be compensated after trading the minimum number of lots within a fixed timeframe. Therefore, read through the Insurance terms and conditions before opting for such an option in your trading strategy.
FBS is certainly a viable option in the market, but traders may be apprehensive about the broker’s regulatory status. Nevertheless, FBS continues to amass an incredible amount of reputation, with more than 80% of its traders choosing to stick with FBS for all of their trading needs.