FBS Review

FBS Review

Introduction to FBS Review

FBS Inc. entered the trading industry in 2009, and has since broadened its reach in over 190 countries, with a customer base of 13 million traders. This broker is well-decorated, earning a number of international awards and recognitions throughout its years in the industry.

FBS conducts seminars and special events to provide its clients, both novice and expert traders, with the necessary learning tools, advanced trading technologies, and latest methods on the

financial market. As regards platforms, FBS has a suite of MeTrader platforms available, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

This broker also understands that every client is different and the same can be said when it comes to their needs. That is why, FBS offers swap-free account or Islamic account to meet the different demands of traders, particularly the requirements of Muslim traders.

FBS Account Types

One key reason why investors opt for FBS is because of its low barrier, as it only requires a minimum deposit of $1.  

FBS’ accounts cater to all types of traders. From market participants seeking minimal risks to those who prefer to trade in huge volume, FBS offers five account types, each having their own conditions and advantages.

Clients on the platform can also become VIP members and receive exclusive benefits once they funded their accounts for $10,000 and traded 50 lots.

There are two account types suitable for small traders, the Cent and Micro account, which share the following the conditions and benefits:

  • No commission
  • Maximum of 200 open positions and pending orders
  • Straight-Through Processing (STP) execution rate starting at 0.3 sec

While distinguishing requirements include:

Cent Account

  • Initial deposit $1
  • Floating spread from 1 pip
  • Maximum leverage up to 1:1000
  • Order volume from 0,01 to 1,000 cent lots (with 0,01 step)

Micro Account

  • Initial deposit $5
  • Fixed spread from 3 pips
  • Maximum leverage up to 1:3000
  • Order volume from 0,01 to 500 lots (with 0,01 step)

On the other hand, FBS’ Standard account fits experienced market players making their way up the trading ladder.

Standard Account

  • Initial deposit $100
  • Floating spread from 0.5 pips
  • No commission
  • Maximum leverage up to 1:3000
  • Maximum of 200 open positions and pending orders
  • Order volume from 0,01 to 500 lots (with 0,01 step)
  • STP execution rate starting at 0.3 sec

The Zero Spread account enables investors to trade immediately without spread charges.

Zero Spread Account

  • Initial deposit $500
  • Fixed spread from 0 pips
  • Commission from $20 per lot
  • Maximum leverage up to 1:3000
  • Maximum of 200 open positions and pending orders
  • Order volume from 0,01 to 500 lots (with 0,01 step)
  • STP execution rate starting at 0.3 sec

 

Lastly, the Electronic Communications Network (ECN) account is designed for expert and long-term traders, as well as those who are interested in experiencing the capabilities of ECN technology.

ECN Account

  • Initial deposit $1,000
  • Floating spread from -1 pip
  • Commission from $6
  • Maximum leverage up to 1:500
  • No limits for open positions and pending orders
  • Order volume from 0,01 to 500 lots (with 0,01 step)
  • Full ECN execution

Trading with leverage means there are risks involved. FBS has a negative balance protection in place to prevent clients’ accounts from losing what they have invested. Still, it’s better to set stops to secure positions, as these can offer some assurance from likely huge losses.  

Trading Products

FBS provides access to 4 major trading products, i.e., Forex, Precious Metals, Stocks, Cryptocurrencies. Excluding ECN account, the Account types mentioned above support trading instruments, including 35 currency pairs, 4 precious metals, 3 CFDs, and 4 cryptocurrencies.

Forex

  • Clients of FBS may trade major and exotic currency pairs such as USD/JPY, EUR/TRY, AUD/CAD, and others.
  • Lot size is 100,000
  • Swap-free option is not offered on exotic currencies
  • Average spread of 0.8 pip and 1 pip for exotic currency pairs

Precious Metals

  • Available metals include gold, silver, palladium and platinum
  • Lot size is 100
  • Maximum leverage is up to 1:333
  • Average spread from 5 pips

CFD

  • All account types, except for ECN, may access derivatives on Brent crude oil, West Texas Intermediate (WTI) crude oil, and DAX30
  • Average spread of 2 pips
  • Lot size starts at 10
  • Commission of $15 for Cent account and $25 commission for Micro, Standard, and Zero Spread accounts

Stocks

  • Standard account holders can trade more 30 stocks on the FBS platform
  • Commission of $3 for Cent, Standard, and Zero Spread account
  • Maximum leverage available up to 1:10
  • Lot size is 10
  • Average spread of 3 pips

Cryptocurrencies

  • FBS allows CFD trading in cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Dash
  • Maximum leverage up to 1:3
  • Lot size starts at 1
  • Average spread from 300 pips
  • Commission of $15 for Cent and Standard accounts

Trading Conditions

As far as trading conditions are concerned, FBS’ seems quite reasonable.

Initial Deposit

  • As mentioned earlier, FBS’ $1 minimum deposit is one major reason why investors chose to trade with this broker, as this a low initial amount. Some online brokers will require at least $100 as a minimum to be able to trade with them.

Spreads and Commissions

  • Out of all FBS’ five account types, traders may find the spreads on the ECN account to be the most ideal, as they start from negative 1 pip and the commission is $6 per lot. The average spreads offered by other brokers are usually 0.6 pips.

Leverage

  • This broker’s maximum leverage of 1:3000 is considered to be among the highest in the industry, which is excellent, particularly for traders with a small budget, since it enables them to trade with higher amounts.

              However, it’s important to be wary when trading with high leverage levels, as there are risks associated when trading with leverage, and the higher the leverage becomes, the bigger the risk.

Conclusion – Is FBS good?

Having garnered millions of traders, it is safe to say that FBS  got a number of things right – its offering  of fee and commission structures, selection of platforms, as well as its ability to deliver reliable services to clients.

While FBS does not have most of the trading instruments that other online brokers offer, the platform still has a decent set of products available for traders – this is the core negative point of FBS review.

With multiple account types to choose from, excellent spreads, a maximum leverage of up to 1:3000, and STP processing, FBS provides investors with a steady trading environment.

This broker also stayed with the officially qualified trading platforms. FBS is available on both the MT4 and MT5, which include desktop, web-based, and mobile trading.

  • Support
  • Platform
  • Spread
  • Trading Instrument
Comments Rating 1.61 (38 reviews)