FBS group includes 2 related companies.
FBS CY - located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
FBS BZ - located in Belize, regulated by the International Financial Services Commission of Belize (IFSC).
Be aware, CY company has some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
FBS group accepts clients from all over the world, excluding USA, Canada, UK, Myanmar, Brazil, Japan, Malaysia, Russia, Israel and Iran.
Forex broker offers the following underlying assets for trading.
|30+ Currency Pairs||Based on major and minor world currencies.|
|4 Crypto Pairs||Based on Bitcoin, Dash, Ethereum, Litecoin.|
|1 Indice CFD||Based on DAX30.|
|4 Metal CFDs||Based on Gold, Silver, Palladium and Platinum.|
|2 Energy CFDs||Based on Crude Oil (WTI, Brent).|
|30+ Stock CFDs||Based on shares of US companies.|
Founded in 2009, FBS is an international forex and CFD brokerage regulated by the Belize-based IFSC (latetly also got regulated by the Cyprus-based CySEC). The broker is registered in Belize (and Cyprus now), and has received many international awards over the years – their most recent being the ‘Most Transparent Forex Broker’ award in 2018, which certainly adds to its credibility as a reliable broker.
They have a presence in more than 190 countries around the world, and are still expanding globally, with 7 local offices set up in Thailand, and one each in Turkey, Shanghai and Laos, respectively. All of this happened in the year 2017, which shows that this is a broker that is currently undergoing rapid growth. The broker also received many awards in 2017, including the ‘Best FX IB Program’, ‘Best FX Broker Indonesia’ and ‘Best Forex Broker Southeast Asia’.
FBS is a MetaTrader-only broker, offering its clients the choice between the MT4 and MT5, as well as web-based and mobile versions of the same platforms. MetaTrader 4 and 5 are both very popular in the trading community, largely due to their good technical analysis tools and large marketplace for “Expert Advisors.”
FBS offers trading in most of the popular foreign currency pairs, as well as CFDs trading based on a selection of cryptocurrencies, commodities and stocks. Clients can choose from 35+ currency pairs, 4 metals, 2 oil CFDs, the German DAX, 4 cryptocurrencies and around 30 US equity shares.
The four types of trading accounts offered by FBS are as follows:
– Cent Account
– Standard Account
– Zero Spread Account
– ECN Account
The first 3 accounts are all based on the STP (straight-through processing) model. The cent account has an initial deposit requirement of only $1, with dynamic spreads starting from 1 pip. This makes it an ideal account for novice traders who want to try out trading without committing a large amount of capital.
The Standard Account has a higher initial deposit requirement of $100, with a floating spread starting from 0.5 pip. It also comes with a very large amount of trading leverage, going as high as 1:3000, which makes FBS one of the brokers with the highest leverage in the industry. Still, unfortunately for EU clients it's up to 1:30.
The Zero Spread Account comes with the same amount of trading leverage, but has spreads fixed at 0 pips, and a commission starting from USD 20 per lot.
Lastly, the ECN (electronic communications network) Account has a lower commission of $6, but requires an initial deposit of $1,000 to start trading. With no trading limits, this account type is targeted at professional traders who trade more frequently and with bigger size than most private “hobby traders.”
Deposits and withdrawals can be made via various methods depending on the currency the client wishes to pay in. Most methods are only available for payments in USD and EUR, while the BitWallet option also supports JPY transactions. While deposits are accepted free of any fees, withdrawals are unfortunately subject to transaction fees ranging from 0.5 to 2%, depending on the payment method chosen. Most withdrawal requests are handled within 15-20 minutes, but may take up to 48 hours, the broker warns.
As an offer to new traders, the broker offers a 100% deposit bonus for a limited time, which it says is “credited automatically upon request.” There are also other promotions available, such as raffle drawings for luxury cars and free T-shirts. Trading contests and limited-time bonuses are also available from time to time, as announced in the “Promotions” section of the broker’s website.
FBS provides various ways for clients to contact them. As of 2017, FBS has pledged to provide a 24/7 customer service via live chat on its website. Clients also have the option of scheduling a callback from one of their customer service agents to help with any problem, or connect directly with the team via messaging apps like Facebook Messenger, Telegram, and WeChat.