Note: FBS official site - http://fbs.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
FBS is allegedly a multi-asset broker registered in Cyprus that claims to provide its clients with various tradable financial instruments with flexible leverage up to 1:3000 and floating spreads from 0 pips on the MT4 and MT5 trading platforms via 6 different live account types.
FBS currently holds a full license from the Cyprus Securities and Exchange Commission - CYSEC (license number: 331/17) and an offshore regulatory license from the Financial Services Commission of Belize - FSC (license number: IFSC /60/230/TS/17). And it has received lots of complaints from traders. That is why its regulatory status on WikiFX is listed as “Complaints” and receives a relatively low score of 2.37/10. Please be aware of the risk.
Note: The screenshot date is January 18, 2023. WikiFX gives dynamic scores, which will update in real time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.
Market Instruments
Investors can trade popular forex mainstream currency pairs, minor currency pairs, exotic currency pairs, metals, stocks, energy, and indices through the FBS trading platform.
Account Types
Six live trading accounts are listed on the FBS platform: Cent, Micro, Standard, Zero-spread, ECN and Crypto accounts. The minimum initial deposit of the Cent and Crypto accounts is just $1, which sounds like a good option for new traders to get started. The ECN account is obviously for seasoned traders, with a minimum initial deposit of $1,000.
Leverage
The specified leverage for different account types at FBS varies between 1:5 and 1:3000. Clients on the Cent account can experience leverage of 1:1000, the Micro, Standard, and Zero-spread account holders have leverage of 1:3000, the ECN account has leverage of 1:500, and 1:5 on the Crypto account.
It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
Spreads with FBS are scaled with the accounts offered. Fixed spreads on the Micro and Zero-spread accounts, 3 pips and 0 pips respectively. Floating spreads from 1 pip on the Cent, ECN and Crypto accounts, while 0.5 pips on the Standard account.
As for the commission, there is no commission on the Cent, Micro, and Standard accounts. $20/lot on the Zero-spread account, $6 on the ECN account, and 0.05% for opening and 0.05% for closing positions on the Crypto account.
Trading Platform Available
FBS offers traders a variety of trading platforms: FBS Trader (for Android and Apple), MT4 (for Android, web, Windows, Apple, macOS), and MT5 (for Android, web, Windows, Apple, macOS). FBS Trader is an all-in-one trading application that allows users to trade with ease. FBS Trader includes all the necessary features, and is lightweight and straightforward, allowing traders to trade anywhere, anytime.
Deposit & Withdrawal
FBS supports various deposit and withdrawal methods: Visa, Neteller, Sticpay, Skrill, Perfect Money, and local exchangers. The minimum initial deposit is just $1. More details can be found in the below screenshot.
Customer Support
FBS customer support can be reached by telephone: English: +357 251 23212, Chinese (Simplified): 85266184509, QQ: 976253062, email: support@fbs.com, hk@fbs.com, hk@fbs.cn. You can also follow this broker on social networks such as Facebook and Instagram. Company address: 21, Vasili Michallidi, 3026 Limassol, Cyprus.
Pros & Cons
Frequently Asked Questions (FAQs)
2022-12-14 15:43
