During this FBS review, our team will take a look at every important detail you need to know about this broker. FBS entered the trading market in 2009, and in the same year, it had already amassed 50,000 clients. The broker has an impeccable reputation, which is further enforced by CySEC, ASIC, FSCA and IFSC regulation. Offering four different asset classes and five different account types, you can kickstart a successful trading career at FBS. Moreover, any broker that is the main sponsor of FC Barcelona and with as many prestigious awards as FBS will surely live up to its reputation.
100+ tradable instruments
Reputable sponsor of FC Barcelona
CySEC, ASIC, FSCA and IFSC licenses
The best broker for high leverage trading
Certain commissions on deposits/withdrawals
FBS overall scores
In this review, you can find all the information you need to decide whether FBS is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how FBS scored in each of our high-priority categories.
Commissions & Fees – 89 Points
Payments – 92 Points
Licensing & Safety – 93 Points
Customer Service – 90 Points
Trading Platforms & Tools – 95 Points
Education – 96 Points
FBS fees and commissions
When you trade with FBS, you are liable to pay certain fees. However, as our team has discovered during this FBS broker review, the broker charges low commissions on trades and low non-trading fees too. You can also choose between fixed and variable spreads, starting from 0 pips. This transparent cost structure makes FBS perfect whether you’re a beginner or an experienced trader.
Our experts have reviewed FBS’s fees based on how they compare with the fees of other reviewed brokers. For each broker, we analyze both trading fees and non-trading fees:
– Trading fees are charged every time you place a trade. They include spreads, commissions, overnight and rollover fees, and currency conversion fees.
– Non-trading fees aren’t directly related to trading, but you should consider them as they make up the cost of using a certain broker. They include payment fees and inactivity fees.
Below you will find a snapshot of the fees charged at FBS. Our experts have created these tables based on the fees applied to a standard account. We consider a standard account to be the one that will appeal to most traders, often not the cheapest option but not a premium option either.
Trading Fees
| TYPE OF FEE | COST |
|---|---|
| Minimum Spread EURUSD (pips) | 1 |
| Commission (%) | 0% |
| Commission on Islamic Accounts (%) | 0% |
*Based on Standard account type.
Non-Trading Fees
| Account Fee | N |
| Inactivity Fees | N |
| Deposit Fees | Y |
| Withdrawal Fees | Y |
FBS trading fees
As our team has found out during this review of FBS forex broker, you will be charged certain trading fees for different instruments. To allow you to price up trading with FBS correctly, we’ve explained what costs are applied to each asset class below.
Forex fees
Spreads on currency pairs vary depending on which trading account you choose and where you’re trading from. If you are trading from outside of the EU, the standard account features floating spreads that start from 0.5 pips on forex pairs. Alternatively, you can also choose the Zero Spread account and use the full power of fixed 0 spreads – something that experienced traders will find especially useful.
Here are forex spreads for different accounts outside of Europe:
- Cent – floating from 1 pip
- Micro – fixed from 3 pips
- Standard – floating from 0.5 pip
- Zero Spread – fixed at 0 pip
- ECN – floating from -1 pip
From within the EU, you can choose between a Standard or Cent account, both of which offer floating forex spreads from 1 pip.
Metals fees
Spreads also apply to metal instruments at FBS. For the Standard account, you will be charged anywhere from 2 pips for the XAGUSD pair to 240 pips for palladium. Our FBS reviewers found that you can also enjoy low spreads on gold from within Europe, yet palladium fees rise to 420 pips.
CFD fees
With FBS, you can trade contracts for indices with competitive spreads. Minimum spreads can vary from 2 pips to 25 pips, and this remains the same no matter which country you are trading from.
Stock fees
This FBS review has shown us that the broker has very low spreads on stocks. The minimum bid-ask price difference for these instruments can go as low as 1 pip while the typical spread is around 3 pips.
FBS commissions
As noted in the table above, the Standard trading account at FBS won’t charge you commissions for round turn lots. The same can be said about Cent and Micro trading accounts – they too have 0% commissions.
However, if you choose the Zero Spread or ECN accounts (only available outside of Europe), you will have to pay a small fee to use their features. For the Zero Spread account, commissions start from 24 USD for round turn lots, whereas for the ECN account the commission is fixed at 6 USD.
Financing/Overnight Rates
When it comes to swaps, FBS charges the same overnight fees for all live account types. For CFDs and stocks, you will have fixed swaps at -1 and -0.1 respectively for both long and short positions. For forex pairs and metals, spreads vary depending on whether you open a long or a short position.
As usual, if you keep your trades open from Wednesday to Thursday, swaps will be tripled to account for the weekends when the market is usually inactive.
Non-trading fees
In addition to trading fees, FBS also charges small non-trading fees on deposits and withdrawals. When it comes to deposits, the majority of financial platforms are commission-free, yet the GlobePay and Stic Pay charge 1.5% and 2.5%+0.3 USD commissions respectively. You may also incur some charges for depositing with Perfect Money.
As for withdrawals, all payment methods feature a certain amount of commissions. The minimum commission is 0.5% for Perfect Money withdrawals, whereas the maximum commission is charged for Stic Pay withdrawals at 2.5%+0.3 USD.
All EU clients can usually enjoy fee-free deposits and withdrawals. You should note, however, that the broker reserves the right to impose a 5% commission if you make a withdrawal before trading.
FBS also does not charge any inactivity fees on its international accounts. Your account will be disabled after 90 days of inactivity, but you can simply contact the broker to reopen it. Unfortunately, if you are an EU trader, you will be charged €10 per year if your account is inactive for over 180 days.
FBS safety
At FBS, you can trade safely in the knowledge that this is a stringent broker that follows international rules and guidelines. The European branch of the broker is regulated by CySEC, one of the most reputable authorities in the world. Whilst outside of Europe you will be trading under an IFSC license (International Financial Services Commission of Belize), which is considered a lesser regulator, the CySEC license should still provide you with confidence.
FBS licenses and regulation
As noted in this review of FBS forex broker, the International Financial Services Commission (IFSC) of Belize is the main institution that regulates the broker’s activities. The legal entity that falls under that regulation is called FBS Markets, with registration No. 119717 and the license code IFSC/60/230/TS/19.
On top of that, FBS also boasts a license from the Cyprus Securities and Exchange Commission (CySEC). The broker is registered under the name of Tradestone LTD in the European Economic Area (EEA) with the license number 331/17.
Additionally, FBS has 2 more licenses from ASIC & FSCA (ASIC#426359 & IFSC#IFSC/60/230/TS/18 & FSCA #50885)
Is FBS safe?
Our review methodology considers several factors to ensure that all of our recommended brokers are safe and reputable. Alongside the number and strength of licenses, we also consider:
- What protection and/or insurance FBS offers should something go wrong
- FBS’s reputation, history, and management
FBS client protection
As a CySEC regulated brokerage, FBS offers client protection that complies with the Investor Compensation Fund rules. Unfortunately, this isn’t extended to international clients.
Our FBS review team also found that the broker offers a free negative balance protection mechanism on all account types. Thanks to this, you won’t be in danger of owing the broker any more money than you first deposited.
FBS background and reputation
FBS is very transparent about its background and history. FBS was founded in 2009 as an international brokerage under the name of FBS Markets. The address of registration was 2118, Guava Street, Belize Belama Phase 1, Belize. By the end of the same year, it already had more than 50,000 worldwide clients.
FBS has managed to distinguish itself as a high-tier forex broker, having received various awards such as the “Best mini forex-broker,” “Best forex broker Asia,” and many more.
Currently, FBS boasts 16 million traders all around the world and annual profits of around 500,000,000 USD. Not only does this prove that they are a popular and well-trusted choice, but such a huge presence within the industry indicates that they have the funds to survive economic crises and operational problems.
Luckily this review of FBS found that, as of yet, the broker has never encountered any difficulties. Our reviewing team tried to uncover any scandals or negative reviews yet there was nothing to be found. It seems that FBS has a clean reputation that is strengthened by financial statements regularly submitted to its regulators.
Opening an account with FBS
To give you a complete picture of FBS, our experts tried and tested trading. They found that the registration process is incredibly easy and quick, in comparison to most brokers of the same caliber. You can open an account from desktop or mobile and the whole procedure takes no more than 10 minutes. The minimum deposit requirements are also super-affordable, for all account types.
Is FBS available in your country?
FBS has a global reach that covers over 150 countries across the globe. This means that the chances of you being covered by the broker’s services are very high.
Some countries aren’t currently covered by FBS, however. These countries include Japan, the USA, Canada, the UK, Myanmar, Brazil, Malaysia, Israel, and the Islamic Republic of Iran.
How to open an account at FBS?
As noted earlier, creating an account at FBS is as simple as it can get. Everything is done digitally, and you don’t need extensive paperwork for the process. You just simply visit the FBS website, click the “Open Account” button, and the process will kickstart on its own. Here’s what our team encountered during this FBS review:
- Step 1
Fill in your full name and email address, verify the registration in your mailbox, and create a password.
- Step 2
Select the account type you want to create.
- Step 3
Choose the trading software, base currency, the maximum leverage.
- Step 4
Proceed to the Personal Area, confirm your phone number, and read and accept 4 disclosures (client agreement policy, execution policy, conflict of interest policy, risk acknowledgment).
- Step 5
Go to the Confirm Identity section and provide ID/password number, date of birth, and photo scans of the ID document and a utility bill. EU traders will also need to complete a small survey before trading.
As a way to make the registration process easier, FBS also allows you to open an account via Facebook or Google. This means you don’t need to spend time filling in as many personal details and can start trading with FBS faster.
What you will need to open an account
To create an account with FBS as quickly as possible, have the following information to hand:
- Personal information – Full name, email address, phone number, and tax/ID number
- Regulatory information – EU traders must provide details of their employment, net income and wealth, trading aims and trading experience
- Documentation – Proof of identity (photo scan of your government-issued identification card/passport/drivers license) and proof of address (this can be a recent utility bill which displays your name, postal address, and the date)
To open an account with FBS, you’ll need to provide proof of identity and proof of address. This process allows FBS to meet KYC (Know Your Customer) guidelines. KYC guidelines keep you safe and stop the broker from accidentally facilitating illegal practices such as money laundering.
What is the minimum deposit at FBS?
In this FBS review, our team has found out that the minimum deposit required to open a real trading account is 1 USD. Here’s a more detailed list of deposit requirements for individual accounts:
- Cent – 1 USD
- Micro – 5 USD
- Standard – 100 USD
- Zero Spread – 500 USD
- ECN – 1,000 USD
It is also important to note that the European branch of FBS has different minimum deposit requirements:
- Cent – 10 EUR
- Standard – 100 EUR
FBS payment methods
FBS supports many financial platforms for deposits and withdrawals, allowing you to fund your account in a way that’s convenient and familiar. Alongside debit/credit card payments, FBS also accepts various international e-wallets and localized solutions. Transactions are fast too, taking around 15-20 minutes to complete, which is quicker than most other brokers. The base currencies for the majority of these methods are USD and EUR, with JPY for bitwallet payments.
FBS account types
As our team has discovered within this FBS forex broker review, there are five live account types to choose from. These accounts fit the needs of traders with different experiences, whether they’re veterans or beginners. FBS’s European platform features only two live accounts, Cent and Standard, but these are also designed to suit all skill levels. In the table below, our team of reviewers has compiled all the accounts and their conditions.
Demo accounts
FBS also offers you free demo versions of all account types. These accounts can be funded with however much virtual money you want, up to a maximum of 1 million USD. As this is a much larger virtual balance than offered at many other brokers, our reviewers think this makes FBS perfect for beginners and traders who want to test multiple strategies.
Islamic accounts
FBS allows Muslim clients to trade in Sharia-compliant conditions. With an Islamic account at FBS, you won’t be charged overnight interest fees or swaps. You can request a swap-free version of each account type we’ve listed above, besides the ECN account, however, you won’t be able to trade exotic forex pairs and CFDs. To activate this account, you have to contact the support team and provide proof of your Muslim faith. Besides swaps, the conditions are the same as they are with regular accounts.
FBS trading platforms
The FBS broker supports two of the most popular trading platforms – MetaTrader 4 and 5. These platforms are available for Windows, Mac, web browsers, and many other platforms. What’s more, FBS also features a proprietary mobile trading platform that works on both iOS and Android systems.
FBS offers three trading platforms. A trading platform is simply a software interface that allows you to place trades. Trading platforms often come with charting, research, and order processing tools too.
To ensure that we only recommend high-quality brokers, our reviewers have tried and tested each of FBS’s trading platforms. When doing so, they considered a range of factors including how easy the platforms are to use, what features each trading platform offers, and how suited each platform is to different types of traders.
FBS Trader
During our review of FBS forex broker, we tried out the proprietary trading platform, FBS Trader, which works with Android mobile devices.
This platform is perfect for FBS clients who want to trade on the go, as it supports over 50 instruments, including currency pairs, metals, CFDs, and stocks. It comes complete with real-time stats and market developments, as well as allowing stop-loss and take-profit orders. Do note, however, that you cannot use EAs or robots FBS Trader.
Overall, this is a very easy-to-use platform that protects your credentials and allows you to trade and manage your account wherever you are.
MetaTrader 4 and 5
As noted above, FBS also supports both MetaTrader platforms. With these platforms, you gain access to diverse charting methods, drawing tools, indicators, and even VPS service. These platforms are also a great choice if you want to use automated trading bots.
MetaTrader 4 supports 41 different instruments, including currency pairs, CFD, and metals. MetaTrader 5 also supports the 67 stocks offered by FBS. As a MetaTrader trader, you can access the MLQ5 community and free trading signals that are updated quite frequently.
Like the FBS Trader platform, you can also place stop-loss and take-profit orders, which is a very useful feature. On top of that, with MT5 you can place more advanced types of orders. All in all, you cannot go wrong with these pieces of trading software at FBS.
Mobile trading
As our team has found out during this review, FBS enables you to use MT4 and MT5 on your smartphone alongside its own FBS Trader platform. Both MetaTrader platforms are available on both Android and iOS devices, whilst FBS Trader is currently limited to Android devices only.
What is the execution policy at FBS?
The execution policy at FBS is one of the best in the industry. FBS focusses on providing real-time asset prices and allowing you to execute trades within a split-second. In fact, 95% of trades are executed within 0.5 seconds.
By registering at FBS, you get the ability to place various order types, such as market orders and stop orders. FBS is also a non-dealing desk (NDD) broker, which means it doesn’t go against its traders and there are no requotes. Additionally, you can choose the ECN platform and make the most out of tight spreads and live price quotes.
For most account types, the maximum number of open positions is 200. The ECN account, however, has no limitations. The maximum order size at FBS is 500 lots. On top of all that, FBS also features the fractional pip pricing at the fifth decimal point.
FBS markets and products
Depending on your account type and jurisdiction, you can trade 75 instruments across five asset classes. This includes popular and exotic forex pairs, energy and index CFDs, stocks, and metals. Our FBS reviewers were happy to find that the broker offers 5 cryptocurrencies, alongside the inclusion of precious metals and indices which gives you further opportunities to diversify and protect your portfolios.
| Instrument | Number |
|---|---|
| Currency Pairs | 35 |
| Commodities | 35 |
| Precious Metals | 4 |
| Indices | 2 |
| Stocks and Shares | 33 |
| Cryptocurrencies | 0 |
| Options | 4 |
| ETFs | 0 |
Forex pairs
Currency pairs are among the main tradable instruments at FBS. In total, there are over 190 major, minor, and exotic forex pairs from 150 countries offered by the broker. It is worth noting, however, that EU clients only have access to 28.
Precious metals
When it comes to precious metals, FBS offers four of them on its platform: Palladium, Platinum, Silver (XAGUSD), and Gold (XAUUSD). The maximum lot size for silver is 5,000, while the rest max out at 100 lots.
Indices
You can trade indices as Contracts for Difference (CFDs) at FBS. Our team found 11 symbols on the website; DAX30, NASDAQ, S&P 500, WTI Crude Oil, Dow Jones andd mnore. Currently, you cannot trade these indices within the swap-free account.
Commodities
Although FBS does not have a designated commodities section of its website, our reviewers found that energies are also offered as CFDs at FBS. At the moment, however, there are only two instruments available (Brent Crude Oil and WTI Crude Oil) which is far fewer than other brokers.
Stocks and shares
If you want to trade stocks from major companies such as eBay and Tesla, then you’ll be happy to know that FBS boasts 32 different options, all with typical spreads of 3 pips. This gives you a great opportunity to trade with the news and with company news and releases.
Unfortunately, stocks are not currently available to European traders and are only available on Cent and Standard international accounts.
Social trading
At FBS, you can also choose CopyTrade to benefit from social trading. This feature works for Standard and Micro account types that are verified with a balance of 100 USD or more. After setting it up, CopyTrade will connect you with a huge community of experienced traders. You can copy or observe these traders to increase your success rate
FBS Group research tools
Market analysis and research take a special place at FBS. The broker offers various tools and features, such as an economic calendar, daily market analysis, and multiple calculators to help you stay ahead of the curve and make more informed trading decisions. You can also take advantage of Forex TV, a video channel with quick and informative market overviews and trade ideas.
FBS Research Tools
| News (from top-tier sources) | Y |
| Trading Signals and Indicators | Y |
| Trade Ideas | Y |
| Expert Analysis | Y |
| Autochartist Tools | N |
| Sentiment Charts | Y |
| Economic Calendar | Y |
Market news
Providing detailed and specific information about market developments is one of the main tasks of FBS. Within this FBS forex broker review, our team came across a news section that spans all available asset classes. You can get updates about developments in forex, commodities, stocks, and the economy as a whole. News is available both in text and video form, and you can get updates on the go via the FBS Trader app.
Trading signals and indicators
FBS also features a pretty extensive forex signals department. The broker gives you access to in-depth signals, which analyze economic developments that will ultimately affect asset prices. Alongside signals, there are various indicators and tools like the forex calculator and currency converter. These help you to measure the specific trade size that you need to open and contribute to the process of technical analysis.
Trade ideas
Trade ideas also fall into the broker’s offerings. FBS’s expert analysts and experienced traders offer their takes on various market developments and suggest some ways for you to make a profit out of them. Again, these are offered in both video and text format.
Expert analysis
Expert analysis at FBS can be found within all of the research mentioned above. Disappointingly, however, the broker does not specify which experts are offering their advice. This leaves something to be desired; our FBS review team would have appreciated knowing something about the trading experience and education of their analysts.
FBS customer support
Customer support is at its finest at FBS. The broker offers two main ways of contact, the live chat, and scheduled callback. Various social media platforms also facilitate broker-client interaction, including Telegram and Facebook Messenger. In this FBS broker review, our team had to contact the broker a couple of times and the response came immediately, which is very appreciated.
Here are the ways in which you can contact FBS:
- Email: [email protected]
- Callback
- Live chat that is directly accessible on the website
- Telegram FBS Bot
- Facebook Messenger
Email support
The first contact method at FBS is email support. You can directly send a mail to [email protected] and get a fairly quick response from the broker. It’s worth noting, however, that compared to other support methods, email is probably your slowest option. That said, slower response times are compensated by competent and helpful answers.
Callback
The callback feature at FBS allows you to schedule a chat with a support agent or your account manager. You can request that they call at a specific time of the day too, making this a convenient choice. To use the callback feature, you simply need to enter your number, email address, a small message for the operator to respond to, and the exact time you want them to contact you. The support team is very helpful, competent, and punctual.
Live chat
During the following FBS review, our team has found that the live chat feature is the easiest way to contact the FBS broker. You just press the “Help” button at the very bottom-right corner of the screen and the chatbot will automatically activate. What’s good about this form of communication is that the operator enters the chat immediately, therefore, you don’t need to wait for more than a couple of seconds for your answer. The answers themselves are valuable and easy to understand.
Social media: Telegram and Messenger
You can use various social media platforms to contact FBS. With Telegram and Messenger chats, you can engage in communication with FBS, just like you would with the broker’s Live Chat service. Answers here are equally useful and quick and you get the added benefit of using a familiar app.
FBS mobile compatibility
The FBS’s website is accessible from within your mobile browser. The experience there is almost identical to on desktop: you get the same sections, same functionality, and even the ability to contact the customer support. All of FBS’s trading platforms are mobile compatible too and you can register and fund your account wherever you are.