General
Features
Pros
- Free demo account
- Fast deposit option
- Own mobile trading platform
- Application for accounts management
Cons
- No FCA regulation
FBS Review
Review Sections:
Launched in 2009, FBS is an online Forex broker with more than 12 years of experience under its belt.
Over its decade-long existence, the broker picked up many industry awards for various aspects/components of its operation, such as the Best IB Program, the Best Safety of Client Funds, the Best Investor Education, etc.
The numbers paint the picture of a solid, popular trading destination, where most users appreciate what they get for their money.
FBS boasts more than 16 million users, and it adds some 7,000 new accounts to that tally every day. According to the official site of the broker, 80 percent of FBS’ traders remain with the broker “forever”.
The broker is also proud to process a withdrawal of profits on average every 20 seconds. That said, the disclaimer at the bottom of the webpage claims that around 74 percent of retail traders lose money when they trade CFDs with FBS.
The broker is regulated by CySEC and Belize’s IFSC. This way, it enjoys satisfactory regulatory coverage within the EEA as well as the rest of the world. FBS does not provide trading services to people living in the US, Japan, Canada, Brazil, Iran, Israel, and a handful of other countries.
The corporate entity behind the FBS brand in Belize is FBS Markets Inc. FBS Markets is registered in Belize, under company number 119717, and it operates under the regulatory supervision of the IFSC. Its license number is IFSC/000102/124. The address of the company is 2118 Guava Street, Belize Belama Phase 1, Belize. We should also point out that the organization processing transactions for FBS is HDC Technologies Limited. This corporate entity is based at Arch. Makariou III & Vyronos, P. Lordos Center, Block B, Office 203.
The corporate representative of the brokerage in Cyprus is Tradestone Limited. This company is based in Cyprus, more precisely at 89, Vasileos Georgiou Street, 1st Floor, Office 101, Potamos Germasogeias, 4048 Limassol.
Tradestone Limited is registered under registration number HE 353534. It is the possessor of CySEC license 331/17.
A CySEC license makes the brokerage MiFID-compliant and, therefore, entitled to legally offering trading services throughout the EEA.
What do its existing clients like about FBS?
- Many traders say that they like the promotions the broker offers. Some of these promotions encourage clients to trade more to fulfill certain requirements, and as such, they may not be available for traders in the EEA.
- The broker maintains a Telegram channel where it hands out trading tips that its users appreciate.
- FBS offers support in many languages.
- Other users appreciate the quick withdrawals and the quality of the FBS support.
- Some users like the fact that FBS supports copy trading, so they can cash in on the expertise of others.
If you search for FBS client reviews, you will doubtlessly discover scores of complaints. On the on hand, such a tally is expected in the case of a 12-year old broker. On the other, some of the negative feedback is disconcerting.
- Some traders allege that the broker did not allow them to withdraw their profits. They could recover their initial deposits but not their profits.
- Others claim that they were not able to verify their IDs with the broker.
- Many users have complained about the quality of the support, likening it to talking to a robot.
- Some users do not like the spreads that the broker features on some of the supported assets such as gold.
We also have to point out that many negative reviews are likely fake, as they plug shady funds-recovery services.
FBS Trading Platforms and Tools
| Feature | FBS |
|---|---|
| Virtual Trading(Demo) | |
| Desktop Platform (Windows) | |
| Desktop Platform (Mac) | |
| Web Platform | |
| Social Trading / Copy Trading | |
| Proprietary | |
| MetaTrader 4 (MT4) | |
| MetaTrader 5 (MT5) | |
| cTrader | |
| Currenex | |
| ZuluTrade | |
| MirrorTrader | |
| Charting - Drawing Tools(Total) | |
| Charting - Indicators / Studies (Total) | |
| Watchlists | |
| Order Type - Trailing Stop |
FBS has based its trading platform offer on MetaQuotes’ popular MT4 and MT5. Both trading platforms are well known among traders worldwide. Although MT5 may seem like the natural evolution of its predecessor, it is a solution focused on different trading needs than MT4. Thus, it complements MT4 and does not supplant it.
FBS’ offer of the two trading platforms covers a wide range of operating systems and mobile devices. MT4 and MT5 are available for Windows, Android, and iOS. For macOS only MT4 is available.
The broker offers a web trader, which is also an MT4 version.
MT4 is the most versatile and powerful platform for online trading. It offers outstanding charting features within a fully customizable trading environment. FBS’ version supports Expert Advisors, giving traders the possibility to automate their profitable trading strategies. The downloadable version of the platform comes with scores of preinstalled technical indicators.
The newest version of MT5 offers improved charting, a great trading interface, and the possibility to manipulate trades at will. The platform supports 21 time frames and eight types of pending orders. An economic calendar is part of the platform as well.
Geared toward day traders and advanced users, some of MT5’s features may be intimidating for beginners.
The tools available to clients are a copy-trader that can copy Micro and Standard Accounts, an ECN Account option for those outside the EEA, as well as a zero-spread account. The FBS website features an economic calendar and a currency converter as well.
Commissions and Fees
The commissions and fees the broker charges depend on the account type one chooses.
The Cent Account is the entry-level option for beginners. It charges no commissions and floating spreads begin from 1 pip. The maximum available leverage on this account type is 1:30. The minimum required deposit is just EUR10.
The Standard Account requires a slightly larger minimum deposit at EUR100. It is still accessible to all comers, however.
This account type charges no commissions either, and its floating spreads start from 1 pip. The maximum available leverage on the Standard Account is 1:30.
The broker also supports an Islamic trading account option.
Research and Education
| Feature | FBS |
|---|---|
| Daily Market Commentary | |
| Forex News | |
| AutoChartist | |
| Trading Central (Recognia) | |
| Delkos Research | |
| Acuity Trading | |
| Social Sentiment - Currency Pairs | |
| Client Webinars | |
| Client Webinars (Archived) | |
| Videos - Beginner Trading Videos | |
| Economic Calendar | |
| Calendar Includes Forexcasts | |
| Economic News Sentiment | |
| Trade Ideas - Backtesting |
The Research section of the FBS website consists of a Forex news section, daily market analysis, and access to Forex TV. The newly introduced Forex Intensive feature is an expert course for traders of all levels.
The Forex Guidebook is a comprehensive selection of courses structured into four tiers: beginner, elementary, intermediate, and advanced. The courses cover technical and fundamental analysis, as well as risk management and various advanced trading techniques.
The Trading Ideas section consists of a selection of articles dealing with various aspects of trading. It covers swing trading, scalping, retracements, MetaTrader tools, etc.
Webinars take place regularly. There is always something scheduled in the webinars section of the website. FBS clients can register there by clicking a button and filling out a form with the required personal information.
The Video Lessons section is an exhaustive library of YouTube videos covering trading strategies, swaps and rollovers, practice accounts, and various other basic trading concepts. The videos are all brief and easy to digest.
In addition to the mentioned educational tools/features, the broker also offers a recently introduced Courses section that lets traders choose the format of the courses as well as the expertise level.
A Glossary of trading terms rounds out FBS’ educational offer.
Customer Service
The handiest way to contact FBS support is through the live chat feature available on the official site. In addition to that, the broker also offers a call-back option.
Based on hundreds of user reviews, we can state that the FBS support staff is quick to respond. Problem-resolution is not always smooth, but for the most part, clients are happy with the quality of the support.
Email support is available through info@fbs.eu. The phone number through which FBS users can request support is +357 25313540.
Mobile
| Feature | FBS |
|---|---|
| Android App | |
| Apple App | |
| Charting - Draw Trend Lines | |
| Charting - Can Turn Horizontally | |
| Charting - Technical Studies/Indicators | |
| Watchlist - Syncing | |
| Trading - Forex CFDs | |
| Trading - CFDs | |
| Alerts - Basic Fields |
As mentioned, the broker supports the mobile versions of the MT4 and MT5 trading platforms. These apps offer the full functionality of the downloadable desktop platforms in a compact, pocket-sized package.
In addition to these mobile options, the broker has a proprietary mobile trading app called FBS Trader. This app provides all the necessary functionality, including access to the top trading instruments, real-time stats, and easy order- and account management.
Conclusion
FBS is a peculiar trading destination. It is well-regulated, and its trading platform offer is above average. It seems legit in every way, although it does appear somewhat unprofessional here and there.
There is plenty of user feedback available on FBS’ services. The feedback is a mixed bag, as one would expect. Having been around in this highly competitive business for 12 years, FBS is certainly doing something right.