There is a good range of several account types available and you should be able to find one here to suit all of your trading needs.
FBS Demo Account
The very best place to get started if you are a beginner, is the demo account. FBS also offers a demo account that is completely free and can replicate live trading conditions but with no-risk virtual funds, and no pressure to move to a live account when you are finished.
The FBS demo account is available for a 90-day period, though once this expires, you can easily open another since the only information you really need is your name and email address to get started here.
FBS Standard Account
The FBS Standard account is a very popular choice with many traders at the broker. This account type is available under both CySEC and IFSC regulation with a great low minimum deposit of just $100 needed.
The spreads too are very competitive starting from just 1 pip with very fast order execution. If you are trading under IFSC regulation you will also be able to access extensive leverage up to 3000:1
FBS Cent Account
If you are looking for a lower risk type of account with FBS then the Cent account is likely ideal for you. This is the perfect introductory type of trading account for newer traders and is available under both IFSC and CySEC regulations. The minimum deposit starts from as low as $1 under IFSC regulations, and $10 under CySEC.
If you are looking for leverage, this is also well-catered under IFSC regulation with up to 1000:1 leverage available and competitive spreads starting from 1 pip. Through this account type, you can trade in nano lots which means trades can be opened from $1.
FBS Micro Account
The FBS Micro account is also available, though only under IFSC regulation. The minimum deposit here is very low too at only $5. This makes the account very accessible. It also has the unique feature of providing fixed spread trading making it ideal if you prefer this type of trading.
The FBS micro account facilitates a huge leverage of up to 3000:1 as well on this micro account with the fixed spreads starting from 3 pips.
FBS Zero Spread Account
Again the FBS Zero Spread Account is available only under IFSC regulations. This account features a minimum deposit of $500, great value if you want to get started in trading with no spreads. The spread here starts from a fixed 0 pips with a commission from $20 per lot traded.
There is also leverage of up to 3000:1 provided on this account type which in itself is a very unique type of account not offered by many other brokers. The STP execution style also helps to ensure that you get the very best possible prices on your trades.
FBS ECN Account
The FBS ECN account is offered under IFSC regulations only, and is another popular account type choice for the more experienced traders. Here you will need a minimum deposit of $1,000 but for that you will get a pure ECN service with the best possible pricing and lightning executions speeds.
Added to that, the spreads start in negative territory from -1pip with a $6 per lot commission attached and 500:1 leverage available.This account type will cater only for forex trading with a total of 25 markets to choose from.
FBS Islamic Account
An Islamic account is available on request from FBS. As you would expect here, the FBS Islamic account is swap-free to be compliant with Shariah law, but the broker may charge a fee if you keep a position open for longer than 2 days.
You can find out more about these types of accounts through our article on swap-free Islamic brokers.
FBS MT4 MAM Account
If you are an experienced trader and interested in managing multiple accounts, then the FBS MT4 MAM account can help you out. This account provides you the capability to oversee multiple accounts with the most up to date possible information in terms of live quotes and news always available to you.
As the name suggests, this account operates with MT4 as the trading platform.
FBS Professional Account
The FBS Professional account is available under CySEC regulations, though in order to qualify as a professional trader, you will have to meet at least two of the following criteria:
- Have an average of 10 transactions of significant size per quarter in the past year
- Own a financial instrument portfolio of over €500,000 (in your bank or into the trading account)
- Relevant experience in the financial services sector
Once you have met at least two of the above conditions, you will qualify to open a professional account and have access to a higher leverage of up to 500:1 for trading forex.
Account Base Currency
The account base currency is that which is available for you to trade with. This selection is a little limited with FBS. The EUR is available within the EU, and under IFSC regulation, the EUR and USD are the available base currencies. This means you may have to pay a conversion fee if you deposit in, or withdraw to, another currency.
Let’s take a closer look at the FBS minimum deposit and any fees which may be associated here.
FBS Minimum deposit
The FBS minimum deposit will depend on the account type you choose, though it ranges from $1 to $1,000 in general. The lowest minimum deposit available is $1 which is on the cent account for IFSC traders. This is $10 for CySEC traders.
The minimum deposit for an ECN account is $500, and the highest minimum deposit of $1,000 applies to the FBS Zero spread account that only charges commission, but no spreads.
As you would expect with a major forex broker, there are a number of deposit methods catered for. This includes wire transfers which are only available in Europe, and typically take 3-4 days processing time.
Credit card deposits through Visa and MasterCard are both also accepted, although MasterCard is not available outside the EU. This is usually instant, though your first deposit may take a little longer.
eWallet deposits through both Skrill and Neteller are supported too and again these are typically instant. There are a few more methods also available depending on where you are located.
In the EU, Rapid Transfer is available for instant deposit, while under the IFSC, Globe Pay, Stic Pay, and Perfect Money are all supported for instant deposits.
Deposits are typically free of any fees. With that said, a few of the methods may attract a fee. This includes Globe Pay with a 1.5% fee, Stic Pay with a 2.5% fee and $0.30 commission, and Perfect Money charge a fee too depending on the funding method.
A conversion fee may apply if you are depositing a non-base currency, and you should check with your bank fee policy for wire transfers.
FBS Deposit – Fixed Rate
FBS offers a fixed rate for deposits if you are from Indonesia. This rate is fixed at 10,000 IDR for 1 USD and is another reason the broker is popular here.
Let’s also take a look at the available FBS withdrawal methods and any fees that may apply.
For withdrawals, FBS makes all of the same methods available. This means you can choose from wire transfers, credit cards, and eWallet methods the same as with deposit methods.
Rapid Transfer is also available in the EU for withdrawals, as are Globe Pay, Stic Pay, and Perfect Money under IFSC. All withdrawals regardless of the method will typically take around 48 hours to process.
There are also no withdrawal fees to worry about if you are a European trader. If you are trading outside Europe, you may be charged a commission that depends on the payment method chosen, plus a conversion fee if the base currency doesn’t match the currency of your bank account. These fees and commissions are listed below:
- Visa – $1 commission
- Stic Pay – 2.5% + $0.30
- Skrill – 1% + $0.32
- Neteller – 2% (min $1, max $30)
- PerfectMoney – 0.50%
- Globe Pay – 1%
Spreads & Commissions
FBS has spreads that are both floating and fixed for you to choose from. Fixed spreads are offered through the FBS Micro Account, and the FBS Zero Spread account. These start from 3 pips on the FBS Micro account, and are fixed at 0 pips with the Zero Spread account though there is a $20 per lot traded commission here.
The floating spreads typically start from 1 pip on an FBS Standard Account, and from a negative -1 pip through the FBS ECN account.
There are also a couple of other fees to consider if you are starting to trade at FBS.
The overnight fee is commonly charged by every broker in the industry, and is the fee for holding a position open overnight. These fees are charged daily on market closing and basically apply to every asset with FBS since they are a CFD broker.
Since it is a changing fee, you can find more information on it through your trading platform. If you are an Islamic trader, you will qualify for a swap-free account so this fee is not applied.
FBS does also charge an inactivity fee. This will apply if you are inactive for 180 days. A $10 annual inactivity fee will be charged by FBS. If you do not have a sufficient balance to cover this fee, then the broker reserves the right to close your account. You should also note that this fee does not apply to you on a demo account.