FBS Review 2023: Pros & Cons

FBS is an online broker that has been providing services to customers in over 190 countries for more than 10 years.

FBS Main Highlights

🚀 Minimum deposit:	Cent Account:- $1 Micro Account:- $5 Standard Account:- $100 Zero Spread Account:- $500 ECN Account:- $1000 Crypto Account:- $1
⚖️ Leverage:	Cent Account:- 1000:1 Micro Account:- 3000:1 Standard Account:- 3000:1 Zero Spread Account:- 3000:1 ECN Account:- 500:1 Crypto Account:- 5:1
🛡️ Regulations & Licenses:	CySEC, IFSC, FSCA, ASIC
💵 Deposits/Withdrawals:	VISA, Neteller, Sticpay, Skrill, Perfect Money, Local exchangers, Bank transfers
💻 Trading platform:	MetaTrader 4, MetaTrader 5, FBS Trader
🌙 Islamic Account:	Yes
🔗 Main domain:	fbs.eu

A Look at FBS

FBS is an online broker with more than 10 years of experience. It is regulated by the CySEC and offers a wide range of trading options, such as currency pairs, indices, futures, exotic currencies, and metals.

It is especially popular in Asian countries like India, Malaysia, and Indonesia. FBS has won many awards and has gained a good reputation in the international trading community.

FBS is a highly recommended forex broker that provides its clients with access to the MetaTrader platforms. Through these platforms, traders can invest in foreign exchange, metals, energy commodities, stocks, shares, cryptocurrencies, and indices. WBO, an international business magazine, has also named FBS as the ‘Best Customer Service Broker Global 2022’.

FBS Account Types

Account types by FBS:

Standard account

This Account is ideal for experienced forex traders and investors aiming to earn more from foreign exchange. This Account gives traders access to competitive spreads, no commission fees and the opportunity to trade with leveraged trading up to 1:3000 and bonuses. The Account is available on MetaTrader platforms and also offers a free demo account. Trading instruments include forex, energies, stocks, precious metals and indices.

Cent account

New traders can start forex trading or copy trading with FBS’s Cent Account by depositing just USD 1. This account shows the balance in cents and is the ideal way to test out new trading strategies with low risk. Users can do swing trading with a maximum leverage of 1:1000 and trade in all kinds of assets.

Micro account

The Micro Account is a great way for traders to track and analyze their daily profits. It requires a minimum deposit of just USD 5, and users can access a variety of advanced trading tools and calculators to help them estimate their returns. In addition, this account offers a range of enticing bonuses and promotions, such as Cashback, Level Up bonus, and 100% Deposit fees bonus. With a spread of 3 pips and a leverage of up to 3000:1, the Micro Account is perfect for experienced traders looking to minimize their losses.

Zero spread account

The Zero Spread Account is designed for traders who want to take advantage of fast trading to make quick profits. This Account offers no spreads, but it does charge a commission fee of USD 20 for each lot. It is ideal for traders who plan to have up to 200 open positions and pending orders at any given time.

ECN account

The ECN Account is a great option for those looking to make profits from the markets. It requires a minimum deposit of USD 1000, and offers the traders the advantage of fast order execution. The Account also provides access to a wide range of liquidity providers, low spreads starting from 1 pip, and the ability to place unlimited orders and manage multiple positions. In addition, the Account charges a commission of USD 6.

Crypto account

FBS broker offers a Crypto Account that allows traders to trade in various cryptocurrencies, such as Bitcoin, Ethereum, and altcoins, with a floating spread of 1 pip and a fixed leverage of 1:5. It also offers convenient deposit methods.

Islamic account

If you open a long position for EUR/USD, you can use the Swap Free option at FBS to trade without additional fees. All you have to do is activate this option in two easy steps. This way, you can borrow US dollars to buy EUR and transfer positions without having to pay any interest, which is forbidden by the Muslim religion.

FBS Trading Platforms

FBS offers two trading platforms (mt4 and mt5) that enable fast trading after registering and logging in. Through FBS’s non-dealing broker system and copy trade apps, users can access a wide range of investment assets.

MetaTrader 4

FBS’s MetaTrader 4 broker is a regulated and highly sophisticated platform. It can be easily downloaded and installed on devices. This platform allows traders to quickly execute orders in the market, copy trade, access charting tools and technical indicators to monitor trading conditions, use Expert Advisors for automated trading, and access mobile apps for trading on the go.

Additionally, FBS’s international offices provide access to the MetaTrader 4 Multi Terminal, allowing clients to manage multiple live trading accounts at once.

MetaTrader 5

FBS recently integrated its website with the MetaTrader 5 trading platform, which provides users with a greater variety of services than its predecessor, MT4.

These services include netting and hedging, advanced technical indicators, and an increased market leader depth view. Additionally, users can access different order types and timeframes for copy trading without needing to download and install the platform. Both the MetaTrader 4 and 5 platforms are compatible with all operating systems.

Mobile apps

FBS provides a powerful platform that can be used on mobile devices such as phones, tablets, and laptops. The FBS copy trade app can be downloaded on Android, Windows, and Apple app stores. It is only available on iOS devices outside of the European Union. The app offers easy navigation and real-time access to trading tools and reports, along with reliable trading conditions.

Financial Instruments by FBS

Users can easily trade and invest in a variety of markets, including:

Forex

FBS offers trading in 28 standard international currencies and 16 other exotic currencies. The minimum spreads for forex TV range from 0.3 to 26. There is no option to trade without swap fees for exotic forex currencies.

Metals

Professional traders can buy and sell gold and silver using US Dollars. The minimum amount of silver they can buy is 5000 and the minimum amount of gold is 100. The cost of the transaction varies between 10 and 20, but normally it is 30.

Energy commodities

The difference between buying and selling energy commodities is usually between 8 and 14. You can buy 10,000 of these commodities at a time, and you need to pay in US dollars.

Indices

FBS offers many indices for trading, with a typical spread ranging from 14 to 1800. Three of the most popular indices in the 10-lot size are EU 50, USD 500, and USD 30.

Stocks

When trading stocks, the difference between the buying and selling price should be at least 1-50. Usually the difference is 2-200. To calculate the order value, multiply the number of stocks you are buying with the opening stock price. The commission fee for trading stocks is 0.7% of the order value.

Cryptocurrencies

Trading in cryptocurrencies involves exchanging different types of coins for other kinds of coins, fiat money, precious metals, or other cryptocurrencies. The minimum spread for a standard lot size of 1 can range from 275 to 25010.

FBS Regulations and Licences

FBS, a company based in Cyprus, provides traders with a secure trading environment. The platform is overseen by the CySEC and the international branches are regulated by the IFSC of Belize. In South Africa, FBS is regulated by the FSCA and in Australia, the ASIC oversees the international offices.

FBS Deposits & Withdrawals

FBS provides multiple methods for depositing money into an account for trading. These include bank transfers, credit and debit cards, e-wallets, and exchanges. The minimum amount to deposit varies based on the type of account and can range from USD 1 to USD 1000. Withdrawing funds from an account is done through bank transfers, bank cards, or e-wallets.

Bank transfer takes 7-10 days, while credit or debit cards take 3-4 days. E-wallets, like Neteller and Skrill, are the quickest method, with funds being available in less than half an hour. Currency withdrawal is available in USD or EUR through wire transfer, VISA, Neteller, Sticpay, Skrill, Perfect Money, and Local exchangers.

FBS Tools

FBS broker provides traders with the necessary tools and technologies to carry out trading. These include access to technical and fundamental analysis data, as well as specialized tools such as charting and market analysis.

Economic calendar

The FBS broker’s economic calendar is a tool for forex traders to use for conducting fundamental and technical analyses of currency pairs. This calendar displays macroeconomic events and their effects on market and asset prices, updating in real-time. The most important indicators to note are US Treasury Yield Curve, GDP, Interest rates, and Unemployment rate. The calendar helps traders to filter through the overwhelming amount of economic events that happen every day.

Currency converter

The FBS Currency Converter is an online tool that allows traders to calculate the exchange rate between two currencies. In order to use this tool, the trader has to enter the amount and the two currencies for conversion. The tool then displays the exchange rate in real-time, eliminating the need for a broker. It also stores the exchange rates from the past month to help traders track asset price patterns. This feature is not available in other forex brokers.

FAQs

Read more: XM Review: Key Features for 2023 | Brokers Times