FBS Forex Broker Review
• There are no requotes
• High leverage of 1:3,000
• All accounts are quoted to 5 digits
• All commissions are covered by FBS
• Traders enjoy 24/7 professional support
• EAs and professional trading strategies permitted
FBS is a fully licensed and regulated Forex trading brokerage. It is operated by FBS – a trading entity of several companies including Tradestone Limited (#353534), Parallax Inc (#VC0100), and FBS Markets Inc (#119717). This Forex brokerage is fully licensed and regulated by multiple authorities including IFSC (International Financial Services Commission) of Belize. The IFSC license #is IFSC/60/230/TS/17. FBS is also fully licensed and regulated by the Cyprus Securities and Exchange Commission (CYSEC) with license #331/17 to offer real money Forex trading services to legal age traders across Europe.
FBS offers multiple currency pairs including majors, minors and exotic pairs to people in all fully regulated jurisdictions. In Japan, Thailand, Myanmar, and Brazil the services provided by FBS are offered through Parallax Inc. The trading instruments provided by this brokerage include contracts for difference (CFDs), metals, and Forex pairs. The Forex pairs include multiple currencies such as the AUD/USD, BTC/USD, EUR/USD, EUR/AUD, EUR/CAD, EUR/CHF, AUD/CHF, CAD/CHF and dozens of others.
There are multiple account types at FBS, each one offering different order volumes, market executions and/or maximum open positions and pending orders. The 6 account types include the following:
- Cent Account – order volumes starting at 0.01 through 1000 cent lots and market executions from 0.3 sec STP. The maximum open positions and pending orders permissible is 200.
- Micro Account – order volumes from 0.01 through 500 lots and market executions of 0.3 sec STP. The maximum open positions and pending orders permissible is 200.
- Standard Accounts – order volumes starting at 0.01 through 500 lots with market executions starting at 0.3 sec, STP. The maximum open positions and pending orders permissible is 200.
- Zero Spread Accounts – order volumes starting at 0.01 through 500 lots with market executions from 0.3 sec, STP. The maximum open positions and pending orders permissible is 200
- Unlimited Accounts – with order volumes from 0.1 to 500 lots with momentary market executions and no trading limits.
- ECN Accounts – order volumes starting at 0.1 through 500 lots with ECN market executions and no trading limits.
With respect to account types, some 35+ currency pairs are supported including 4 cryptocurrencies, 2 CFDs, and 4 metals. The only exception to this is the ECN account type.
Trading Platform/ software
The FBS trading platform includes MetaTrader 4 and MetaTrader 5. These are ideally suited to Forex traders using Windows or Mac. Additionally, the MetaTrader applications are fully compatible with iOS and Android devices so that you can trade from any smartphone, tablet or phablet. The trading platform can easily be downloaded via the apps, and there are multiple features inherent in the MetaTrader platforms.
For example, MetaTrader 4 offers some 41 tools including futures, CFDs and currency pairs. There are also low spreads, EAs and 1-click functionality. The software also allows users to use the same username/password combination. MetaTrader 5 features include charting functionality, micro-lot accounts, VPS service support, and hedging. Forex traders will need to download the software for Windows, iOS, Android, WebTrader, multiterminal, or Mac operating systems.
Deposit options include a host of local payment methods such as Visa, MasterCard, Skrill, Bitcoin by Skrill, Perfect Money, Astropay, wire transfer, and NETELLER®. All deposit options are guaranteed secure, thanks to secure socket layer technology and the highest encryption protocols. Once you’re ready to make a deposit, simply log into your account and navigate to the cashier. You can make a deposit in your national currency, and the deposit amount will be converted into USD/EUR based on the official exchange rate. To make a deposit, navigate to your personal area through the financial operations category. Deposits that are made via EPS are instantly processed, while other payment processing systems can take up to 2 hours during business hours. The maximum time to process a deposit via electronic payment systems is 48 hours from the moment of its creation. Wire transfers can take up to 7 business days to process.
The markets are divided up into 3 broad categories including Forex, metals, and CFD trading. There are other markets which include cryptocurrency trading such as Ethereum, Dash, Bitcoin etc. There are some 35+ currency pairs, 4 cryptocurrencies, 2 CFDs, and 4 metals that traders can enjoy.
Currency pairs include: AUD/CAD, AUD/CHF, USD/JPY, USD/EUR, GBP/USD and others. In total, there are several dozen Forex pairs including majors, minors and exotic currency pairs.
Metals trading: Metals include palladium, platinum, XAG/USD and others. These are traded with minimal spreads and various other elements are included such as stop level, swap short, swap long, and the typical spread.
CFD trading: this includes BRN, DAX 30, WTI and others.
There are scores of bonuses and promotional offers currently available at FBS. These include a $50 bonus to trade Forex with no deposit needed. Traders will have leverage of 1:500 to boost their trading activity. To qualify for this bonus, a full registration is required. There are other promotional offers available. These include the following:
- A 100% deposit bonus
- Promotional materials designed to enhance your trading success
Other offers include the Bonus $123 which provides ‘7 day bonus trading’ with unlimited profit potential and unlimited availability. No verification or contact details are required for this bonus. There are cash back offers available to Forex traders, and FBS is the sole provider of cashback services. The bonus amount is up to 15 USD per lot traded and there is an unlimited bonus trading period, unlimited profit potential, and no expiration on this promotional offer. There are many other bonuses available, and they can be found under the Promotions tab, listed in the Promotions & Bonuses Category.
Customer support can be reached by contacting the FBS support agents courtesy of live chat functionality. Simply use the Zendesk live chat support option to ask your questions and they will respond to you in real time, during operational hours. Other support options include social media on G +, YouTube, Twitter, and Facebook. There are contact us options on the footer of every page, including WeChat, Messenger, and Telegram. These interactive communication channels ensure rapid response times from professional and courteous customer support representatives. Other contact options available to traders include local offices, live chat, and callback functionality. FBS representatives are available around the world, including Egypt, China, Korea, Thailand, Malaysia, Turkey, Thailand, Indonesia etc.
Safety is assured at all times, thanks to secure socket layer technology, encryption, account verification, and the like. All deposit/withdrawal options are guaranteed safe and secure, much like online banking transactions.
Ease of Use
FBS broker is relatively easy to use, but you will have to learn the ins and outs of using the platform. By clicking on the top three horizontal lines on the right-hand side of your screen, you will be able to access general info, financials, trading instruments, trading platforms, trading conditions, partnership information, promotional offers, analytics & education, and company details. The provision of a demo trading account and real money trading accounts provide traders with all the necessary tools and resources to succeed in online Forex trading.
FBS broker is a leading European online Forex broker with dozens of currency pairs, cryptocurrency, metals, CFDs and other options available. Safety and security is high on the agenda, and clients will find all the necessary checks and balances in place. If ever you need customer support and service, you can easily reach them via social media, email, live chat (Zendesk) and other options. They are highly responsive to Forex trader queries, and do their utmost to provide prompt and professional service.