FBS is a global forex broker that has been providing trading services since 2009. With its presence in over 150 countries, FBS has gained recognition as a reliable platform for both beginner and professional traders. The company offers a wide range of financial instruments, including forex, commodities, indices, stocks, and cryptocurrencies, making it a versatile choice for traders with various strategies.
Regulation and security:
FBS is regulated by several financial authorities, which enhances its credibility in the market. The broker holds licenses from:
- Cyprus Securities and Exchange Commission (CySEC): This ensures FBS meets strict European standards in client protection.
- Australian Securities and Investments Commission (ASIC): Another reputable regulatory body, providing oversight for operations in Australia.
- Financial Services Commission (FSC) of Belize: While not as strict as European or Australian regulators, it adds additional flexibility in offering high-leverage trading to international clients.
FBS also claims to segregate client funds from operational accounts, ensuring safety for traders’ capital.
Account Types:
FBS offers several account types tailored to different levels of trading experience:
- Standard Account: This account provides access to all trading instruments with competitive spreads and allows for both beginner and experienced traders.
- Cent Account: Ideal for beginners, this account allows traders to start with a smaller capital to test strategies.
- ECN Account: This account is designed for professional traders, providing direct access to liquidity providers with lower spreads.
- Demo Account: A risk-free option for practicing strategies without real money.
FBS also supports Islamic Accounts, which comply with Sharia law by eliminating swap commissions on overnight positions.
Trading Instruments:
FBS offers a wide variety of trading instruments, allowing clients to diversify their portfolios:
- Forex: More than 40 currency pairs with leverage up to 1:3000, making forex trading the broker’s core focus.
- CFDs: On indices, commodities (such as gold and oil), stocks, and cryptocurrencies, although the selection is slightly limited compared to some competitors.
- Cryptocurrencies: Includes popular digital assets like Bitcoin, Ethereum, and others, with leverage up to 1:400.
Fees and Commissions:
FBS is known for its low trading fees. It does not charge fees for deposits or withdrawals, though there are some commissions based on the payment method (e.g., Skrill, Neteller). Trading costs primarily come from spreads and swap rates for holding positions overnight. The spreads on FBS vary depending on the account type, starting from 0.5 pips on major currency pairs.
Trading Platforms:
FBS supports the industry-standard platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms offer advanced charting tools, automated trading, and multiple order types, making them popular among professional traders.
In addition to MT4 and MT5, FBS has developed its own proprietary platform, FBS Trader, designed for mobile use. It provides a simplified interface, ideal for on-the-go trading, offering technical indicators and risk management tools.
Leverage and Risk:
One of the distinguishing features of FBS is its high leverage, which goes up to 1:3000 on forex trades. While this can amplify profits, it also significantly increases risk, particularly for inexperienced traders. FBS advises caution and provides educational resources to help traders manage risk.
Educational Resources:
FBS provides a robust set of educational tools to help both beginners and experienced traders improve their skills. These include:
- Webinars: Covering a wide range of topics from basic forex education to advanced strategies.
- Video Tutorials: Detailed instructional videos on platform usage and trading techniques.
- Market Analysis: Daily market reports and technical analysis to keep traders informed.
Customer Support:
FBS offers 24/7 customer support through various channels, including live chat, email, and phone. The broker is praised for its responsiveness and helpfulness, making it easier for traders to resolve issues quickly. It also provides an extensive FAQ section and access to customer service directly from the trading dashboard.
Final Thoughts:
FBS is a solid choice for both novice and seasoned traders. Its variety of account types, low fees, high leverage, and comprehensive educational resources make it attractive to a broad range of users. However, traders should be cautious with the high leverage options, which can pose significant risks. With reliable regulation from CySEC and ASIC, FBS provides a secure environment for forex trading, though it is not available to U.S. clients due to regulatory restriction.
