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, Belgium, Cyprus, France, 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 Indice CFDs||Based on baskets of different blue-chip stocks.|
|4 Metal CFDs||Based on Gold, Silver, Palladium and Platinum.|
|2 Energy CFDs||Based on Crude Oil (WTI, Brent).|
|40+ Stock CFDs||Based on shares of US companies.|
Founded in 2009, FBS is an international forex and CFD brokerage company registered in Cyprus and Belize, and fully regulated by government agencies in both countries. As such, the Cyprus-based branch of FBS follows all regulations from the European Securities and Markets Authority (ESMA), which means that leverage for EU-based clients is limited to 1:30. For international clients assigned to the Belize-regulated branch, however, no such limitations exist, and leverage can go as high as 1:3,000 in some cases.
Since its founding, FBS has received a large number of awards, particularly for its activities in Asia. Among these are the Best Forex Broker Southeast Asia, Best Customer Service Broker Asia 2016, and Best Forex Trading Account 2018. And while these types of awards do not necessarily reflect a brand’s quality accurately, they do show that the broker has a certain track record in the industry spanning several years.
When it comes to trading platforms, FBS offers both the two classic platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5), as well as a new proprietary mobile platform called FBS Trader. FBS Trader is available for all iOS and Android mobile devices, and offers a well-designed and intuitive interface for trading forex and CFDs on the go. In the broker’s own words, the platform is “as powerful as MetaTrader, but much simpler.”
FBS further offers trading in most of the popular foreign currency pairs, as well as CFDs based on a selection of precious metals, stock indices, single stocks, and energy commodities. The broker also used to offer cryptocurrency trading, but this has later been removed.
In terms of account types, the offering from FBS varies depending on the jurisdiction. While EU-based traders only have access to a Standard Account and a Cent Account with max leverage of 1:30, international FBS clients will be asked to sign up for one of the five following trading accounts:
– Cent Account
– Micro Account
– Standard Account
– Zero spread Account
– ECN Account
Out of these, the first four accounts are all based on the STP (straight-through processing) model. The Cent Account has an initial deposit requirement of just USD 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.
Further, the Micro Account still has a very low minimum deposit of just USD 5, but the spreads here are fixed and starting from 3 pips.
Next, 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.
The Zero Spread Account also comes with the same amount of trading leverage, but has spreads fixed at 0 pips, and a commission starting from USD 20 per lot. The minimum deposit here is set to USD 500.
Lastly, the ECN (electronic communications network) Account has a lower commission of USD 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.” Leverage for the ECN Account is currently set to a maximum of 1:500, which is in line with the industry standard for offshore brokers.
Deposits and withdrawals on FBS can be made via various methods depending on the currency the client wishes to pay in. With the exception of Sticpay, deposits from all funding methods are accepted free of charge by the broker. However, 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 in some cases take up to 48 hours, the broker warns.
Lastly, FBS offers customer service via either live chat or a callback function found on the website. However, no phone numbers for direct calls to the broker are listed anywhere on the website, which in our view is unfortunate for a large international forex broker. In addition, messaging apps like Facebook Messenger, Telegram, and WeChat can also be used to contact the broker for those who prefer that.