FBS Review 2019 and Technical Opinions
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Would you like to fully understand if FBS is reliable or if it’s a scam?
Do you want to find out everything you can do with FBS, expert opinions, and user reviews?
In this FBS review, you’ll find everything you need to dispel any doubt, including our feedback on FBS, both practical and technical, after years of experience on the platform.
The best thing you could is to open a free demo account to try out first-hand the FBS platforms, to be able to fully follow this review.
Founded in 2009, FBS Markets Inc. have established themselves as a well-known broker offering a full-range of trading services within the forex industry.
The Belizean based broker has managed to attract live traders numbering into the millions according to company data, and continues to expand globally, having bagged numerous industry awards over the years.
In order to attain a better understanding of FBS Inc. forex offering and allow both existing and potential traders to get a clear picture of the company workings, features, and future, we have conducted an exhaustive FBS broker review.
This will objectively cover every aspect of the broker, and allow traders to make a more informed decision on how and where they should invest funds.
PART 1 – FBS Legal Review – Company and Legal Information
A point of primary concern for traders both new and experienced, is to ensure the forex broker they are registering with, and entrusting their capital to, is operating with both integrity and transparency. For those reasons, it is the first area which we will address in our FBS broker review.
This should serve to dispel any notion of an FBS scam or other such dishonesty.
Having been in operation for the best part of a decade, it can be presumed that FBS broker has conducted all of its business in the most honest of fashions, and will continue to do so. With that said, it still requires some more in depth analysis to provide complete assurance to traders.
Is FBS a scam? Is FBS reliable? FBS review and legal opinions
By all accounts FBS is not a scam.
The company is regulated by one of the most respected financial regulatory bodies with CySEC in the EU, and within Belize by the International Financial Services Commission (IFSC). Whilst Belize may not immediately stand out as a prominent location for regulatory compliance, it is in fact, one of the more popular and trusted global financial destinations.
Further to this point, having been in the industry since 2009, and amassed a huge user base, it is very evident that the FBS broker is certainly not a fly-by-night scam.
When I make a deposit to FBS, where does my money go?
FBS payment transactions are managed by HDC Technologies who are located and registered in Cyprus.
Given that FBS Inc. broker is regulated by both CySEC, and the IFSC, all deposits by traders would likely be placed in segregated accounts with top-tier financial institutions. This is a feature which many global regulators require in order to ensure complete transparency.
Is FBS regulated? FBS Regulations – FBS license opinions
FBS broker regulation is overseen by the well-known IFSC in Belize, and CySEC within the EU. These regulators are both well respected in the global financial world. Particularly CySEC which symbolizes trust for many forex traders.
Whilst this is a positive sign for FBS and their traders, many major forex brokers elect to be regulated in various regions to increase their overall credibility and reach. This is something which FBS can still explore further to increase their own levels of trust among traders.
How to check the FBS licenses
FBS broker regulation can be verified by checking their license with the appropriate regulator.
In this case, that is the IFSC in Belize and CySEC in the EU, therefore, the FBS license check can be carried out by checking their specified listing on the IFSC website, and similarly through CySEC here
What type of broker is FBS? FBS technical opinions
FBS is a non-dealing desk broker who engage a straight through processing execution. This has the ability to provide traders with the best possible market prices and spreads available. They also offer a specialized ECN account.
Ultimately, this type of broker offering is very popular among traders, it allows them the best possible market rates, an execution speed which is unbeatable and the ability to build a better rapport with their broker when the interests of both parties are more aligned than may be the case with some dealing-desk brokers.
How does FBS profit?
Depending on the account you choose, FBS broker has varying ways in which they obtain a profit. With a standard trading account which is commission-free, they will benefit from a marginal increase in the spread which they offer traders. In the case of zero-spread or ECN accounts, the broker profits from the addition of a commission to trades.
Where is the legal office of FBS?
The legal offices of FBS are located in the following places:
89 George A,
Mairoza complex, block A, 1st Floor,
No.1 Orchid Garden Street,
Ajeltake Road, Ajeltake Island,
- Regulations: Tradestone Limited authorized & regulated by the by CySEC (331/17); FBS Markets Inc. regulated by IFSC (IFSC/60/230/TS/18).
- Type: Market Maker, ECN
- Leverage: 1:3000
- Minimum Deposit: $ 1
- Platforms: MT4 (for Windows, iOS, Android and/or webtrader)
- Headquarters: FBS Markets Inc. is headquartered in Belmopan, Belize
- US Customers: No
- Other instruments: Futures; CFDs on precious metals, oil, cryptocurrency
PART 2 – FBS Account Opening
What can you do with FBS? FBS features opinions
FBS offers an extensive range of markets to choose from for traders. This includes FBS forex markets within 35 currency pairs, these are both major and minor pairs, with 9 being exotic pairs. Beyond forex, the broker offers CFD trading across metals, commodities, and other CFDS to the tune of 11 markets. This includes 4 major cryptocurrencies. FBS also offer CFD trading on a range of major stocks from the likes of Disney, McDonalds, and other major companies. There are a total of 33 stocks available.
FBS also offer their copy-trading platform for both traders and investors to engage in. This is a relatively new offering from FBS which has so far been well received by traders who can earn commission from allowing their trades to be copied, and for investors this provides a potentially profitable option to view and follow the trades of others. Overall, it expands the FBS broker offering in a positive way.
FBS demo: how to open a free virtual account
An FBS demo account is extremely easy and convenient to open. With submission of your name and email address all that is required, the demo account can be open in under 2 minutes. From here you will be directed to download your chosen trading platform. You can also choose which FBS account type you wish to open as a demo. For the purpose of this review, we selected the FBS standard account.
FBS Live: how to open a Live FBS account
Opening a live FBS account can be completed with very similar ease to that of a demo account. Simply select your preferred FBS account type, input your name and email address, and you are good to get started.
In order to successfully verify your account for trading, and be eligible for your FBS broker bonus, you will need to verify your email address, phone number, and ID through the uploading of your official identification documents. This should be approved within 24-hours.
FBS Deposits and Withdrawals – All the options
FBS have a very accessible deposit system. This means they make a wide range of choices available for your convenience when making a deposit.
- Credit Card (Visa/MasterCard)
- Perfect Money
- Bitcoin by Skrill
All of these deposit methods are available and have their associated fees reimbursed by FBS. All of the listed deposit methods are instant.
Our FBS withdrawal review concluded that withdrawals are available through all of the same methods as deposits with FBS. This comes with one exception which is CashU. Most of the withdrawal methods also allow for completion within minutes with the exception of Connectum which will take between 5-7 days. The fees applied to withdrawals are as follows:
- Visa/MasterCard : $1
- Connectum: 0.50 EUR
- Skrill: 1-2% + 0.29 EUR
- Neteller: Under Less than $50, $1; More than $50, 2%.
- CardPay: 1 EUR
- Perfect Money: 0.5%
FBS minimum deposit
The minimal deposit which FBS forex broker will allow varies depending upon the account type you choose. These minimum deposit amounts are as follows:
- Cent Account: $1
- Micro Account: $5
- Standard Account: $100
- Zero-Spread Account: $500
- ECN Account: $1000
FBS Bonus and Offers
FBS offer a number of bonus promotions especially to new traders. The best known of these is likely the FBS bonus 50 USD. This allows for a free $50 FBS deposit bonus to be used in any way when you deposit to a new FBS trading account.
The platform also provide a 100% deposit bonus, and an FBS bonus 123 USD promotion. An FBS 123 bonus review would indicate that there are certain conditions attached to this $123 bonus offering. These include a limited trading time frame of 7 calendar days.
Overall, the broker offers a much wider array of bonus programs than can usually be seen, depending upon trader jurisdiction.
What type of trader are you?
74-89% of retail CFD accounts lose money
PART 3 – FBS Review – Accounts, Conditions, and Fees
FBS Account Types
There are five FBS account types to chose from.
These are, Cent Account, Micro Account, Standard Account, Zero-Spread Account, and ECN Account. As noted above, the FBS minimum deposit on each account type varies, as do some of the trading conditions such as leverage, spread, and execution style.
Both an FBS Cent Account, and FBS Micro Account may be very suitable to new or inexperienced traders who wish to learn about the industry or more of the features and operation which FBS broker offers.
Commissions, Fees, Spread and Market Trading Hours on FBS
Due to the multiple options which FBS account types present, these are also a number of different fee structures in place. These include 3 account types which offer commission free trading, 2 with floating spreads, and the FBS micro account with fixed spreads. Both the zero-spread FBS trading account, and the ECN account offer trading with the lowest spreads, but do add a commission to trading. In the case of the zero-spread account, this commission is levied at $20 per side, per lot.
When it comes to non-trading fees, the broker performs admirably. There are different swap fees which are variable and can be viewed in more comprehensive detail here, but there are relatively few non-trading fees, including no inactivity fee, and a reimbursement of any deposit fees incurred.
See also our full FBS Spreads review for more detailed info.
FBS Islamic Account
Yes, an FBS Islamic account is offered to traders. This is available through contact with customer service, though these accounts will not be eligible for any FBS deposit bonus.
FBS Leverage – What it the highest leverage FBS offers?
The highest leverage which FBS offers its traders is 1:3000. This leverage is only available to traders outside of the EU. Within the EU, CySEC regulations restrict forex broker leverage to 1:30.
FBS broker does offer trading in cryptocurrencies. They offer CFDs trading in 4 major markets which are Bitcoin, Ethereum, Litecoin, and Dash. FBS cryptocurrency trading is offered with a leverage of 1:3.
As mentioned, FBS broker facilitates CFDs trading across a number of markets and products. CFDs trading is available across commodities, metals, cryptocurrencies, and stocks. Besides regular forex trading, there are a total of 44 CFDs available through the broker. This includes all of the stock trading products on offer at the time of writing.
PART 4 – FBS Trading Platforms Review
FBS sticks with the very much tried and tested when it comes to trading platforms. That is that FBS forex trading is available on both MT4 and MT5 platforms in their various formats only. This includes desktop, web-based, and mobile trading.
FBS Trading Platform Review
Electing to offer only MetaTrader 4 and MetaTrader 5 platforms from MetaQuotes, although it lacks variety which some traders would welcome seeing, adds a certain degree of surety to the FBS broker offering.
FBS MT4 and MT5 perform with the same great levels of user-friendliness combined with fast and effective execution which have made them a household name throughout the industry. They are both controlled through the left and lower taskbars which allow for display of the latest news, in this case provided by the MLQ5 community, and detailing of open positions and other necessity. Displayed on the left side is the ever-familiar market watch listing and the navigator, whilst the central display shows the chosen charts, and like the hundreds of professional charting tools and professional indicators which can be applied to your charts within MT4 and MT5, this display is also highly customizable.
FBS web trader is also available in both varieties, and much like the FBS MT4 and MT5, it incorporates 51 charting indicators in its standard offering, with many more available from MetaQuotes.
These platform offerings are highly functional and whilst traders may be somewhat disappointed at the lack of proprietary platform options, they will likely be familiar with MetaTrader. In the case of new traders, this can often prove to be advantageous too since MT4 and MT5 are available through most brokers as standard. This equips them with transferrable trading platform knowledge from the outset.
FBS mobile trading charts a similar course to that of its desktop and web-based counterparts. MT4 is offered for both iOS and Android devices. This provides the same highly functional, effective trading capability much as seen in the desktop variety. It is very easy and simple to navigate and also manages to house some 30 technical indicators to assist with charting the various markets offered through FBS forex.
Although MT4 can seem rudimentary, it provides for all the trading requirements anyone could need on the go, and in the majority of cases, many more technical tools than are provided by any other third-party or proprietary trading platform in the sector. This is particularly true in the case of mobile trading.
FBS tutorial: Where to find the best FBS Guides
FBS themselves do an excellent job of ensuring every level of trader has something they can learn from the broker’s educational section. This provides all manner of guides which are specifically tailored to the trader level, as well as a range of videos, webinars, and other materials to improve and enhance the forex trading experience.
PART 5 – Support, Research and Educational Material
FBS Customer Support
FBS customer support is available on a constant basis in a number of forms. These include email, website powered live-chat, and a dedicated call back service. With this call back service, you can input your information and promptly receive a call from a support agent at the time of your choosing.
The live chat feature is also highly responsive and helpful, whilst emails were responded to in under two hours when tested. These support facilities are complemented by the addition of a useful FAQ section on the website. This attempts to answer any of the basic questions which traders may have.
The research options provided by FBS mostly consist of their own in-house related news feed and market analysis data in a blog style format. This is regularly updated, though it may not provide the levels of consistency or insight which many traders expect.
They also provide a range of video insights and overviews with specified trading plans targeted toward their users and a sufficiently detailed and convenient economic calendar.
Where FBS may fall short slightly on research, it makes up for in terms of educational content. Their offering in this area is wide-ranging and impressive. They bring together several resources including blog-style guides, videos, webinars, and trading tips in one location and tailored specifically dependent on trader levels from beginner to advanced. This provides an ideal learning opportunity for new traders and potential advancement for more experienced traders also.
FBS Trading Academy
Whilst there is no specified trading academy, the extensive amount of education content which FBS broker provides, culminates in creating a central hub for learning which could qualify itself as a trading academy.
PART 6 – Final Thoughts and Opinions on FBS
The overriding purpose of this FBS broker review is to provide an idea and insight to traders as to whether or not FBS would be a suitable broker for them to trade with considering their offering and features. Here we will provide our frank and objective assessment of FBS, given what we have learned through conducting this extensive FBS forex broker review.
FBS review, FBS opinions and final comments
Having already attracted millions of traders throughout almost a full decade in the industry, it is quite clear that FBS have done many things right. This includes the offering of a huge variety of platforms, offering a range of user-friendly fee and commission structures, and ultimately operating in a transparent and trusting manner with its users. This is highlighted in its responsiveness to trader queries and the easy navigated manner of its website and information.
On the other side, the FBS regulatory status is something which can always be expanded. Ultimately however, the current status of operation for FBS and its user base seems to work well. Traders are satisfied with the combination of regulation from IFSC and the renowned CySEC and as the company continues to grow and add industry accolades to their trophy cabinet, little in the way of criticism can be levelled in their direction.
Why You Should Choose FBS
There are a variety of reasons why you may elect to trade with FBS. The broker has been in the industry for a number of years and successfully accommodated millions of traders and trades. This, along with their extensive range of educational options and available FBS account types, make for an attractive proposition. This can be furthered strengthened to attract new traders through the offering of the many FBS deposit bonuses.
Ultimately, for all traders, especially those who are more experienced or wishing to trade in higher volumes, it comes down to trust and performance. These are two areas in which FBS have proven themselves both reliable and successful.
FBS Reviews – PRO
- Extensive bonuses are offered to new traders, along with degrees of leverage which are simply not available through many brokers due to regulatory requirements.
- The range of account types made available is certain to ensure there is something available for all levels of trader.
- FBS provide an impressive catalogue of educational material. This will undoubtedly ease the learning curve and be attractive to new traders.
- Various spread types offered between account types which allow traders to choose the most beneficial for their trading pattern and style.
- Very responsive customer support. Particularly through the live chat function.
FBS Reviews – CONS
- The range of trading products and markets made available, whilst it covers everything considered as “major”, is not as extensive as that provided by other competitors of a similar stature.
- Limited options in terms of account opening are provided to EU based traders when compared with non-EU offerings.