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FBS Broker: Review and Trader Opinions

regulation
Regulated by IFSC (IFSC/60/230/TS/18)
region
Accepts traders from
United Kingdom
rating
4.0
/ 5
Rating: 5
Reviews: 0
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FBS Markets Inc. is a multi award winning forex and CFD broker located in Majuro, Marshall Islands. It was founded in 2009 and since then, it has grown to become a global brand.

Full review
Trading conditions
Tradable assets:
Option profitability:
Minimum deposit:
Minimum trade amount:
~ 100
up to -%
$1
$1
Demo account:
Online registration:
Call support:
Chat with support:
yes
yes
-
yes
Tradable assets:
~ 100
Option profitability:
up to -%
Minimum deposit:
$1
Minimum trade amount:
$1
Demo account:
yes
Online registration:
yes
Call support:
-
Chat with support:
yes
Deposits and Withdrawals
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Review of FBS
Broker rating: 4.5 / 5

1. General Information about FBS Markets

FBS Markets Inc. is registered in Belize with the Registration No. 119717. It is regulated by the International Financial Service Commission (IFSC) license no. IFSC/60/230/TS/18.

FBS states that it executes client orders within 0.4 seconds and that requotes are impossible. This is because the broker offers market executions without a dealing desk. It uses a hybrid model combining ECN and STP brokerage models to process orders.

FBS boasts of 12 million traders and 370, 000 partners from over 190 countries. The official website (www.fbs.com) is available in 18 languages.

2. Advantages and disadvantages

No Leverage Cap: FBS offer traders very high leverage up to 1:3000 for Standard and Zero spread accounts. This is one of the highest among forex/CFD brokers. Traders who feel choked by the 1:30 leverage cap in the EU have found brokers that offer no leverage restrictions very comfortable to use.

Regulated Broker: FBS is regulated by the IFSC in Belize. The broker has been in operation for almost 10 years and has earned the trust of traders all over the world. Industry watchers and reputable organizations have given FBS awards for excellent services. The broker affirms that about 7,000 traders’ and partners’ accounts are opened every day.

Modern Trading Platforms for All Trader Levels: FBS provides platforms suitable for all levels and styles of trading. Professional traders who perform technical analysis and trade with Expert Advisors (EAs), Virtual Private Server (VPS) and forex indicators will find this broker services apt for their trading activities. Newbies will also find FBS services apposite because the broker provides training materials, a demo account and intuitive trading platforms.

US Clients Not Accepted: FBS does not provide its services to clients who live in Japan, USA, Canada, UK, Myanmar, Brazil, Malaysia, Israel and the Islamic Republic of Iran.

Limited tradable assets: For an ECN broker, FBS offers very few assets compared to other ECN brokers. Most ECN brokers offer thousands of stocks, CFDs, indices, ETFs, etc from different exchanges across the world.

3. Underlying Assets

FBS offers tradable assets in 5 asset classes: forex, metals, CFDs, cryptocurrencies and stocks. Here are the details of the asset listings on FBS.:

Currencies: There are about 35 currency pairs available for trading on the platforms. This cuts across the major, minor and exotic pairs.

CFDs: Only 3 CFDs are available for trading. They are WTI Crude oil (WTI), Brent crude oil (BRN) and DAX 30. Trading on CFDs is not available for ECN account holders.

Metals: Only four precious metals are available for trading. They include palladium, platinum, silver and gold. Metals trading cannot be done with an ECN account.

Cryptocurrencies: 4 cryptocurrencies can be traded on the FBS platforms. Cryptocurrencies can only be traded from the Cent and Standard accounts.

Stocks: There are 33 stocks pooled from the US exchanges. Amazon, Apple, Ebay, Facebook and Google are popular stocks you will encounter on FBS. Stock trading is only available to Standard and Cent account holders.

4. Trading Platform

The platforms provided for FBS Clients are: MT4; MT5.

MT4 is the most widely used trading platform among forex traders all over the world. This is because of its user-friendly interface and powerful tools. It has features that support fast order executions, risk management, pending orders and account management. The MT4 also has tools for technical analysis; 30 indicators, 9 timeframes, Charts, drawing tools and tons of other tools. The platform supports automated trading through the use of Expert Advisors (EAs). FBS provides the WebTrader version of the MT4. This version requires no downloads or installations. All that is required is a device that has a web browser.

The MT4 is also available as a downloadable desktop application for Windows PC and MAC operating systems. The MT4 Multi-terminal which is used to manage multiple accounts is also available. FBS probably uses an MT4 bridge to be able to offer STP with this platform.

MT5 is the latest trading software from the same company (MetaQuotes Software Corporation), and has been designed to eventually replace the MT4. It has extended features when compared to the MT4. It has complete tools for fundamental and technical analysis. It has 21 timeframes, 38 indicators, an economic calendar, multiple charts, etc.

FBS also provides the MT5 as a WebTrader and downloadable versions for MAC OS and Windows PC.

5. Mobile Trading

Both the MT4 and the MT5 platforms have mobile apps designed for trading on-the-go. With the mobile apps, a trader can monitor the market prices, place trades, follow the news, manage accounts, view accounts and order history, and also perform technical analysis. The MT4 and the MT5 are separate apps designed for android and iOS devices. All the four apps are downloadable from their respective app stores.

6. Demo Account

FBS provides a demo account for all it clients. The demo account is a practice account designed for traders to experience the market conditions, trading platforms and test their strategies in a risk free trading environment. The FBS demo account is available on the MT4 and the MT5 platforms and it is preloaded with virtual capital of up to $1,000,000.

To open a demo account, click on the “Demo account” button found on the homepage of the website and fill the form that displays. A confirmation email is sent to your email address. Verify the email and then login. In the members’ area, create the account type and select the amount of virtual funds needed for trading. The demo account is created. Download the appropriate platform and commence trading.

7. Account Types

FBS offers a wide range of accounts depending on trader capital, trading technology and leverage desired. Multiple accounts can be opened by a trader in either USD or EUR. The following account types are provided by FBS:

  • Cent Account
  • Micro Account
  • Standard Account
  • Zero Spread Account
  • ECN Account

The Cent account requires a minimum initial deposit of $1 and it features floating spreads from 1 pip. The maximum leverage obtainable is 1:1000. The market execution model utilized is straight through Processing (STP) and orders are executed within 0.3 seconds. This account is designed for new traders who wish to test their strategies on a live account.

The Micro account features fixed spreads from 3 pips. The account opening balance is $5. The maximum leverage obtainable is up to 1:3000. Orders are executed within 0.3 seconds.

The Standard account is the basic account designed for normal traders. The FBS charge is built into the spread as no commissions are charged. 1:3000 is the maximum leverage that can be obtained from this account. Orders are executed at speeds as fast as 0.3 seconds.

The Zero Spread account is designed for traders who do not wish to incur spread charges but rather choose to pay commissions on trades. The spread is fixed at 0 pips and a commission of $20 is charged per lot. The orders are executed at an average speed of 0.3 seconds.

ECN Account is for traders who desire to have direct market access to liquidity providers and exchanges. This account features floating spreads starting from 1 pip. Leverage on trades can be up to 1:500 and a commission of $6 is charged.

8. Opening an Account

It is easy to open an account with FBS. Just click the “open an account” button found on almost every page on the website. A form displays, enter your email, name, accept the customer agreement and private policy, and click on “open an account.” A temporary password is assigned to the new account and you are asked to change the password. Next, is email verification via a link sent to the supplied email address. After verification, the account is created and the MT4/MT5 logins details are issued to the new user.

9. Funds Withdrawal

To withdraw funds from FBS, the client account must be completely verified. Know Your Customer (KYC) documents must be scanned and uploaded. A withdrawal request can be made from the members’ area. The following withdrawal methods are available:

Visa Card: The withdrawal commission is $1 and it takes a maximum of 48 hours.

Neteller: FBS takes a commission of $2. The minimum commission is $1 and maximum is $30. Withdrawal transactions take up to 48 hours.

Skrill: The withdrawal commission is 1% plus €0.29. It takes up to 48 hours for complete processing.

Perfect Money: FBS commission is 0.5% and takes a maximum of 2 working days.

Bitwallet: This is available for only JPY currency and the commission varies. The withdrawal is instant.

FBS also has local exchangers that can be used for account transactions.

10. Trader Training

FBS provides complete trader education. Here are the trainings available:
Forex guidebook: This is a series of articles on forex trading. It is divided into Beginner, Elementary, Intermediate and Experienced levels.

Forex Books: This is a library of books recommended for traders by FBS. There are over 100 books in the collection. Most of the books can be bought from www.amazon.com.

Tips for traders: This section of the website comes up periodically. It focuses on how to avoid mistakes when trading, strategies and general tips to become a successful trader.

Free Webinars and seminars are advertised on the website periodically.

Video Lessons: This comprises of about 21 lessons on forex trading, 9 lessons on FBS services and 6 lessons on MT4.

A glossary defining and explaining relevant trading terminologies is provided.

11. Should I Trade With FBS?

Yes. Over 12 million people across the world cannot be totally wrong. FBS has the experience, capacity and the technology to provide a conducive trading environment for its clients. Every style of trading is supported. Account opening is fast and easy. With a minimum of $1, live trading can commence. Traders will also find the leverage provisions suitable for trading. In summary, FBS is recommended for new and expert traders.

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