FBS Forex Broker Review

  • High reputation
  • Excellent trading platforms
  • Outstanding customer services offered by well trained and qualified professionals
  • Known to give its customers various bonuses from time to time
  • Demo account available
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Summary

FBS, an international forex broker regulated in Belize but with headquarters in Russia.  FBS has stood out in forex trading; a fact that can be attested to by the number of accolades which this broker has won thanks to its high standard services. For instance, FBS is the holder of the Best Customer Service Broker Asia 2016 as well as the Highly Recommended Broker Insurance of the Year in Indonesia. In 2012, FBS emerged as the fastest growing broker in all of Asia.

FBS currently offers its customers trading on more than forty trading symbols which include 35 currency pairs, four metals, and two CFDs.

FBS started in 2009 and is fully regulated by the International Financial Services Commission, commonly referred to as IFSC. FBS has its offices in a number of Asian major countries, including Malaysia, China, Indonesia, South Korea, Thailand, Myanmar, and Russia and prides itself on having a customer base of about 700,000.

Pros and Cons of Trading with FBS

FBS Pros:

  • Quite a high reputation
  • Excellent trading platforms
  • Outstanding customer services offered by well trained and qualified professionals
  • Known to give its customers various bonuses from time to time
  • Available demo account

FBS cons:

  • Some of the bonuses offered by FBS require trading to withdraw profit
  • FBS is not regulated by some highly regarded bodies in the world of forex trading

Account Types Available for Traders

First, it is important to note that FBS employs three trading platforms – Meta Trader 4, Meta Trader 5 and webtrader, which are all excellent for traders who are looking forward to executing their trades without any hiccups. You can decide to use the online version or download these trading platforms and you’ll be good to go. The two platforms operate well on all Operating Systems such as Windows, Android, MacOS, and iOS.

Regarding trading accounts, FBS offers six trading accounts for its traders. Each account comes with its own unique benefits and requirements.  FBS accounts take into consideration that there are traders who do not want additional risk in their trading, while there is another group that has more of an appetite for risk in order to potentially make more. FBS accounts include:

  • Cent account: Here, a trader can deposit a minimum of $1. This account also comes with floating spreads of 1pip. There is commission attached to this type of account. The leverage is up to 1000:1. FBS’s Cent account also offers a maximum of 200 open positions and pending orders.
  • Micro account: FBS’s Micro account comes with a minimum deposit of $5 and floating spreads of 3 pip. There are also no commissions in this account, while the leverage stands at 3000:1. Here, there are 200 open positions and pending orders.
  • Standard account: The Standard account’s minimum deposit is $100. In addition to no commission on this account, it is also important to note that it comes with a floating spread of 1pip. The leverage is 3000:1 with maximum 200 open positions.
  • Zero account: The minimum deposit in this account is a bit higher, standing at $500 with floating spreads from 0 and $20 per lot commission. The leverage is 3000:1 and maximum 100 open positions and pending orders.
  • Unlimited account: As with the Zero account, the minimum deposit that a trader can make on FBS’s unlimited account is $500. The floating spread ranges from 0.2 pips. There is also no commission while the leverage is up to 500:1 with a maximum of 200 open positions.
  • ECN account: The ECN account comes with a minimum deposit of $1000 and a floating spread of from 1 pip and $6 commission. The leverage is up to 500:1 with 200 open positions.

Broker Type

FBS is an STP, Straight Through Processing and ECN type of a broker. This means that traders do not have to go through a dealing desk but instead, these brokers execute and send their client orders directly to the liquidity providers.

That is one of the most trusted ways of trading in the world of forex trading because it provides a trading environment which is secure, transparent and fair.

Regulatory/Reputation Background

FBS is, in no doubt, one of the most trusted forex brokers in the Asian market. Since FBS opened its doors in 2009, it has seen its customer base continue to multiply thanks to the level of professionalism they continue to receive at the hands of FBS.

This IFSC regulated broker has been awarded a good number of top awards in Asia, something which speaks volumes about its reputation. For instance, and in 2015, FBS was named Best ECN Broker of that year. FBS seems to hold with high regards its customer services, a factor which has been attributed to its massive growth across Asia.

Other Highlights

It is certainly of much importance for any trader to take note that FBS accepts payments in various methods including Mastercard, Visa, Perfect Money, Wire Transfer, Local Bank Deposits, Neteller, and Skrill to name a few.

Conclusion

FBS is a force to reckon with in the Asian forex market. This is not only demonstrated by the number of accolades that they won, but also at the level of professional customer services that have continued to offer.

FBS also offers a number of trading accounts, something which takes care of a starting trader to those who are seasoned in this trade. FBS is also regulated, which is a good thing and, all that said and done, FBS is certainly a broker that is highly recommended.