Since 2009, FBS is on the ground of forex trading with reliability and steady performance. With its outstanding performance and acceptance from 23 million clients in 150 countries, FBS already pocketed around 40 global recognitions and awards. What is more, FBS is an official trading partner of Leicester City.
Their galloping success already grasped acknowledgments and awards like Best Mini Forex Broker, Best Forex Broker Asia, Best Broker in South-East Asia, Best Trading Platform, and so on. Everyone in Forex trading is known for the phenomenal growth of FBS in the last years.
But, how can the forex broker avail you, as well? What are the advantages and requirements of starting trading with FBS? In this FBS review, that is what I am going to share from my earlier experiences.
What is FBS?
FBS is one of a few forex brokers that owned the trust of millions of traders. The forex broker is situated in Belize and offers online trading related to forex, CFDs, metals, stocks, and cryptocurrencies.
Currently, Tradestone LTD is owned and taking care of its entire operations. The CySEC (Cyprus Securities and Exchange Commission) is regulating the brokerage house, and its listed license number is CySEC #331/17.
FBS Market Inc. is operating its web platform, registration #IFSC/60/230/TS/18. On the contrary, IFSC is responsible for regulating the web platform.
Australian clients can join in and access all the premium features with FBS under the Australian Financial Services License and ASIC regulation and its listed license number is ASIC #426359. FBS has a dedicated website (www.fbsaustralia.com) for Australian traders and those who want to trade under Australian law.
Also, FBS has an FSCA license, bearing license number is FSCA #50885
Detailed Review of FBS
In this segment, you are going to explore the core facilities that FBS has to become your first forex broker. So, let’s have a keen start on that.
At A Glance
FBS is getting around 7000 traders’ and partners’ account opening requests per day. 48% of its traders depend on the platform as their prime source of income. In 2018 statistics, FBS got withdrawal requests from clients every 20 seconds. Nearly 80% of its user base is active participants in trading.
Trader Account Type
At present, there are 5 types of account offerings available for FBS clients such as Cent, Micro, Standard, Zero Spread, and ECN account. But FBS EU clients are only eligible to get access to Standard accounts.
The Standard account is the perfect pair for experienced market players. On the other hand, if you are a beginner in the field, then most probably, the Cent account is the best suit. For precise profit calculation, anyone can count on the Micro account.
To enhance the speed of trading, you can try the Zero Spread account also. And the last one is my favorite, the ECN account. You can get full power and access to forex trading with the ECN technologies. Let’s take a look at the opening balance of each type of account.
- Opening balance of $1 for Cent,
- Opening balance $5 for Micro
- Opening balance $100 for Standard
- Opening balance $500 for Zero
- ECN account requires $1000 of initial deposit
- Opening balance of $1 for Crypto
The most thrilling part of trading on FBS is its immersive level of leverage for the clients. You can get the chance to trade the maximum amount of credit comparably more than its competitor’s platforms. Let’s take a look at them one by one.
- Up to 1:1000 for Cent account
- Up to 1:3000 for Micro account, Standard, and Zero-Spread account
- Up to 1:500 for ECN account
- Up to 1:5 for Crypto account
Basically, the spread is the contrast between the bid you are making and the asking price. It is the chief source of revenue for FBS. FBS is offering both spreads fixed and floating spreads.
- From 1 pip floating spread on Cent, ECN and Crypto accounts
- From 3 pips fixed spread on Micro accounts
- From 0, 5 pip floating spread on Standard account
- From 0 pip fixed spread on Zero Spread account
Since there is no commission applicable for Cent, Micro, or Standard accounts, you can frequently enjoy a complete portion of your revenue. Although, Zero spread account holders have to share $20 per lot with FBS. And lastly, FBS will charge a $6 commission.
If you have previous experience in forex trading, you should have known that MetaTrader enables trading without order deviations. It’s one of the core facts people seek in a brokerage house.
Fortunately, FBS is on the same track to provide you the MetaTrader facility with an extensive range of leverage. You will find both MetaTrader 4 and 5 features on various platforms like Windows, iOS, Android, Web, Mac OS, and, nonetheless, on MULTITERMINAL. Let’s take a look at the MT features of FBS.
- Above 41 tools for currency pairs, CFDs, and Futures
- Multiple platforms/device sync support
- EA or Expert Advisors with a fully functional feature
- Around 50 indicators and stats tools
- One-click trading
- 3 types of analytical charts
- Hedging positions
- Micro-lot accounts
- VPS service
In my outlook, forex trading is one of the smartest businesses to hook up with. And one can succeed for sure if there is a bridge with a legit brokerage house. That is what I found in FBS. The main goal of this FBS review is to share my thought and experience with the platform.I know, someone who amalgamates forex trading with a dream to become a great trader and risks all of his savings. Therefore, instead of rumbling around on the wrong platforms, it’s quite mandatory to stick with the right one. Fortunately, you are not going to repeat that mistake as everyone does. Great wishes to become the next top trader.
The account opening process at FBS is user-friendly and fully digital. The process is very fast.
FBS is an excellent broker, I have been working with him for the second year. I never had any problems with the withdrawal, even when I was able to double my deposit and fully withdraw the profit.
I have been working with FBS on Forex since 1 year. While I’m looking. Opened an account fairly quickly. Support works quickly. Order execution is good with no slippage.
Since joining FBS last year, I’ve been very pleased with the trading fees. There are no issues with deposits or withdrawals.