If you are considering opening an FBS account of any type then this is the right place for you.
Why do we say that?
Well, that is because we have uncovered all of the FBS account types available to you and also provided some detailed information about the features and benefits of each type.
This should ultimately help you make the best choices when going through the FBS account opening process.
Along with our FBS review, this will help to keep you fully informed.
Let’s get started with a detailed look at all of the FBS account types and what they have to offer.
FBS Account Types for CySEC – European Market
Being regulated by CySEC, FBS has the benefit of boasting top-flight regulation which is respected around the financial world. This brings which it certain slight differences between the FBS account types available to the European market, and others.
European Market trading information
A total of 28 currency pairs are available to traders within FBS who are operating within European markets. These include all the major pairs you would expect, along with a range of others. Additionally, trading in 2 metals markets is available.
Within FBS EU, MT4 is the sole trading platform which is made available. Managed accounts like MAM and PAMM are also not made available to FBS European traders.
Overall, there is still a fantastic range of options for all European users to choose from when opening and FBS account.
Your FBS demo account as a European user is available for a 90-day trial. After this period it does expire, but you are free to create another FBS demo account whenever you wish.
The FBS demo account is available for each account type available to FBS CySEC traders. This means standard and micro demo accounts are available.
The FBS demo account features the exact same features and benefits as FBS live accounts. This allows you to completely replicate live trading conditions. There is also the possibility of slippage during busy market period or times of volatility.
The FBS Cent account is available to CySEC users and great for those who wish to trade with smaller amounts but still experience the great features of an FBS live account.
On this account you can trade with cents (and sense). That makes for smaller volumes of trading and ultimately lower risks. With that said, an FBS leverage of 1:30 is still available.
The minimum deposit for an FBS cent account is low at just €10, the account features a 1 pip floating spread and offers commission-free trading.
An FBS standard account is the option which many EU-based traders usually opt for. You can open your FBS standard account with a €100 deposit.
The FBS standard account also features a floating spread from 1 pip, a 1:30 leverage availability (the maximum FBS leverage permitted within Europe due to regulation), and commission-free trading once again.
Having an FBS Islamic account is a very important feature for those who wish to follow Shariah law. This is something which FBS does provide for.
The FBS Islamic account is available to holders of both the FBS Cent Account, and Standard Account traders.
Through the FBS Islamic account, exotic forex pairs along with CFDs are unavailable, although every other FBS account feature and market function is available through the account.
FBS Account Types for IFSC – International Market
Moving to the types of FBS accounts which are available to international users, there are a few more. These are still very well regulated by the IFSC for your protection as a trader.
International Market trading information
Firstly, quite a few more account types markets are available through the FBS international account. These include a total of 35 currency pairs alongside 4 metals, 3 CFDs, and 4 cryptocurrencies.
Also available are more trading platforms in the form of MT4 with multiterminal compatibility, MT5 where both MAM and PAMM accounts are available for use, and the proprietary FBS Trader platform.
A VPS (Virtual Private Server) is also available for use if needed where you meet the FBS requirements.
An FBS demo account is of course available for international traders. This demo account differs slightly in that it is available for a 45-day trial period. You can then create a new demo account after these 45 days.
Again this FBS demo account has many of the same benefits as an FBS live account and there is no limit to the accounts which you can open with every type made available. As with the EU demo account, slippage may occur during busy markets periods.
An FBS cent account is available for international users. Similar to the FBS European Cent Account, a very minimal deposit of $1 is required. This account also features a floating spread from 1 pip and is commission-free.
Trading through this account is done using the STP method, and it is a great way to get started in learning to trade with FBS.
The FBS Standard Account which is made available to international traders features a $100 minimum deposit. This account has spreads which are floating and start from 0.5 pips.
The STP processing method is also used here, and you can avail of commission-free trading as standard and an impressive maximum FBS leverage of up to 1:3000.
An FBS micro account is available if desired to FBS international traders. This account is something of a meeting between the FBS cent account and a standard account. The FBS minimum deposit is $5 here, and a fixed spread starting from 3 pips is implemented.
This account also provides for a maximum FBS leverage of 1:3000, and commission-free trading with the STP processing method being used.
The FBS Zero Account provides for a great fixed spread from 0 pips to the FBS traders who are based outside Europe. This also comes along with extensive leverage of up to 1:3000.
The STP processing method is used to make sure of the best possible trade, and a commission of $20 per lot is charged. The FBS minimum deposit for opening a Zero Account is $500.
An FBS ECN Account is available. This requires a $1000 minimum deposit and holders can benefit from leverage of up to 1:500.
The FBS ECN Account commission is $6 and the spreads start from -1 pips. This account type offers just forex currency pairs trading.
As with the FBS EU based traders, international traders can also benefit from the availability of an FBS Islamic Account. This is available with every account type offered and the only exceptions in terms of market availability are that exotic forex trading and CFDs are unavailable.
FBS secondary accounts
FBS secondary accounts are limited if you are a European trader based under CySEC. The options here do not really extend beyond the standard and micro accounts mentioned.
As you can see from the categories above though, you have lots of choice if you are using the International side of FBS. You will also be able to open a Copy Trading account if you wish. You can use this account to either copy trades or provide your own signals.
FBS copytrading is available through standard and micro accounts of international IFSC-based traders only. FBS Copytraders are also known as investors; therefore, you could also term this as a type of FBS investor account.
FBS Account Openings
Now that you have hopefully chosen your account type, let’s move to highlighting some of the finer points and features which you may wish to know about when operating an FBS account.
FBS account opening should be a relatively easy process which you are guided through in a few simple steps. You should first visit the FBS homepage of your jurisdiction and from there you will be guided through the registration process step by step to get your FBS live account up and running.
FBS verification is another required step in the process of trading with your FBS live account. This can be completed online as long as you have a few basic documents to hand. These include a proof of you identity document and also a proof of your residence.
FBS account currency is available as Euro only for those based in Europe. If you are utilizing the international FBS though you will also have the option of a USD base currency.
It should be remembered that other currencies can be used but these will then have to be converted into USD or EUR depending on your location. Any conversion fee which you incur will depend on your payment method.
For those based in South Africa, the ZAR is not available as an FBS base currency.
The FBS minimum deposit is as shown above and varies depending on your location. For those based in Europe, this means it is either €10 or €100. If you are using the international FBS regulation, the minimum deposit can be anywhere between $1-$1000 depending on account type.
As mentioned, you FBS account funding from Europe can be completed in Euro currency only.
If you are holding an international account, you can fund with any but this will be converted to USD or EUR and you may be charged a fee depending on your payment method.
On special case is if you are Indonesian. In this case you can activate a fix-rate currency exchange of 1 USD – 10,000 IDR (Indonesian Rupiah) for your account funding. Once this is activated, you cannot go back.
For FBS deposits from Europe, these are typically fee-free. They are also usually instant when we consider the time it takes to deposit. The exception is bank transfers which may charge a small fee and take 3-4 days for processing.
International account deposits are also usually fee-free. SticPay and PerfectMoney do charge a fee, although every FBS deposit method offered here can be instant in nature.
FBS withdrawal methods within Europe are typically fee-free. These are usually also processed in the same business day. Bank transfers may apply some fees and usually take 48 hours to process.
If you are holding an international FBS account, the withdrawals are also usually charging no fee and processed within 15-20 minutes. Some fees may be charged depending on the method. BitWallet withdrawals are completely instant.
Bonuses, promotions, contests and special services
FBS offers a wide range of bonuses, special events, and contests which rival many top forex brokers. Unfortunately, due to regulation and ESMA in particular, European users cannot avail of any FBS bonus offers.
As an international account holder though, there are many available. Anyone looking for the FBS 123 bonus and FBS 50 bonus will find these have expired but there are still many great offers to select from.
These include a 100% deposit bonus. A no deposit bonus of $100 may also be available though this can only be withdrawn once you have met certain trading requirements.
The partner IB account program also allows for money to be earned through referring new users and there is a generous FBS loyalty program.
When it comes to other offers and contests, FBS Pro allows for a demo account contest where you receive a $10,000 demo account and 1:100 leverage. After 2 weeks of trading with this account, the top earners receive a prize of up to $450.
There are also cashback offers of up to $15 per lot traded, and regular chances to win cars and holidays as well as special FBS Ramadan events. This Ramadan event in 2019 resulted in the donation to charity of accumulated spreads and IB commissions for the period.
FBS Account Management
The final area to take a look at is some issues which may pop up as you are running your FBS account. These are things which you may wish to know more about how to deal with if they do come up.
Account expiring and reactivation
This area of FBS account expiration is something which differs slightly between Europe and the international accounts.
Within both Europe and international, your demo account does not expiry through inactivity, though they do have time limited trial periods as you can see above. Once this has happened, they can be reactivated simply by opening another demo account.
On the issue of your FBS live account, in Europe this would be disabled after 180-days of inactivity. It can be reactivated through contact with FBS and if it remains inactive, the broker will charge a €10 fee per year. If the account balance is insufficient to cover the fee, the account will be closed and the owner notified.
On the international side, live accounts are disabled after 90-days of inactivity. No inactivity fee is imposed, and again if you wish to reactivate, you should simply contact FBS.
Invalid Account error
If you are receiving this error, it may be due to having your username or password incorrect. If this is the reason, you should check them remembering they are case sensitive, along with the server you are using.
In rare cases, you may wish to close your FBS account. To begin the FBS close account procedure on a Europe-based account, simply contact FBS for assistance.
On your international account, it cannot be immediately deleted. The best way is to simply leave your account inactive for 90-days after which it will be disabled.