FBS Review
In this FBS review, our experts unpack a forex broker with over a decade of experience. Trusted by traders across the globe, FBS allows you to trade a wide range of currencies, commodities, and indices. The broker also offers two account types, fair trading fees, and strong regulation.
Thanks to low minimum deposit limits, accessible demo accounts, and extensive educational resources, our reviews found FBS to be one of the best brokers for new traders. If you’re more experienced, however, our broker review is still worth reading. Discover what trading conditions to expect and to learn how to make the most of everything FBS offers.
FBS Regulation and Background
FBS launched in 2009 and operates from Cyprus. The broker currently boasts over 16 million customers in 190 countries and 40 industry awards.
Besides impressive statistics, FBS is also subject to top tier regulation from CySEC (the Cyprus Securities and Exchange Commission) and IFSC (the International Financial Services Commission of Belize). Under these guidelines, the broker offers you several fund protection mechanisms, including negative balance protection and investor compensation.
Thanks to all of this, with FBS you can confidently trade 44 currency pairs, 4 precious metals, 2 oil contracts, and 4 stock indices.
- Website: www.fbs.com
- Support: +35725313540
- Leverage: 1:30
- Min. Deposit: 10 EUR
- Spreads: from 0.7 pips
- MacWindowsAndroidLinux
Advantages
- Trade forex, commodities, and indices
- Improve your skills with trading courses
- Start trading with as little as €10
- Enjoy leverage of up to 1:500
Disadvantages
- No cryptocurrency trading opportunities
- Limited customer support
FBS Account Types and Trading Conditions
FBS offers a Standard account which is suitable for most traders, and a Cent account which is perfect for beginners. Below our FBS reviewers explain the key features of each:
- Standard Account – Minimum deposit of €100, leverage of up to 1:30, floating spreads from 1 pip, and a minimum trade size of 0.01 lots.
- Cent Account – Minimum deposit of €10, leverage of up to 1:30*, floating spreads from 1 pip, and a minimum trade size of 0.01 cent lot (=0.0001 standard lot).
You can increase your leverage limits on both FBS account types by qualifying as a professional trader. To do this, you must supply legal proof of your trading skills and knowledge.
If you are a new trader, the Cent account is beneficial as you needn’t start with a large deposit and you can trade small amounts. If you’re unsure, however, our FBS review team recommends opening both types as demo accounts. These come preloaded with virtual funds, giving you the perfect opportunity to see which suits you best.
FBS also offers a swap-free Islamic account. To open this type of FBS trading account, simply reach out to customer service.
How to Fund Your FBS Broker Account
FBS offers a range of deposit options including Visa, Mastercard, Skrill, Neteller, and wire transfers. You can fund your account via desktop or mobile app, and all deposits are free. Most deposits are also instant except for wire transfers, which may take up to 3-4 working days.
You can use the same methods for withdrawals. Our FBS review team found that the broker processes withdrawal requests incredibly fast compared to competitors. You should receive e-wallet and card withdrawals within 20 minutes and bank wire transfers within 48 hours.
FBS Mobile and Desktop Trading Platforms
At FBS, you can trade using the Meta Trader 4 and 5 platforms. These are available for download from the FBS website, or you can simply use them from within your browser.
MetaTrader 5 is, on the whole, a more flexible trading platform than its predecessor. You can choose from six pending order types (compared to MT4’s four), 38 technical indicators, and six timeframes.
If you’re reading this FBS broker review as a beginner, however, we recommend opting for MetaTrader 4. This platform is easier to navigate, offers great charting tools, and allows you to customize the interface. With MT4, you can also increase your chances of success by using automated trading robots, signals, or FBS’ copy trading tools.
Our reviewers also explored the FBS Trader app. This platform allows you to manage your account and trade whilst on the move. It boasts an intuitive interface, real-time charting, and technical indicators comparable to the MetaTrader platforms. Unfortunately, the FBS Trader app is only available on Android devices at the moment.
FBS Education and Training
In our FBS broker review, we found a wide range of educational and training materials, making the broker ideal for beginner traders. The analytics and education section is free and includes trading guides, webinars, and video tutorials.
If you’re a more experienced trader, you’ll benefit from the broker’s free market news and analysis. The broker’s Forex TV channel also offers weekly insights and daily trading plans to help you identify new trading opportunities. The broker updates its news page frequently (up to three times per day), which makes it an invaluable source for keeping up to date with the latest market developments.
Customer Support at FBS
FBS offers 24/7 customer support via live chat. You can also contact the broker by telephone (+357 25313540) from 6:00 to 15:30 GMT, or request a callback at a time that’s convenient for you. For less urgent queries, you can email the broker for a reply within around 48 hours.
Our reviewers found the broker’s FAQ section to be clear and helpful, although it isn’t as extensive as it could be. This is a drawback, especially for beginners, who may need to find quick answers in the early stages of trading.
FBS – Final Summary
FBS is an ideal broker for beginner traders, thanks to its wide range of trading instruments, educational materials, and low depositing limits. If you’re more experienced, our review team is sure you’ll enjoy the reliable Meta Trader platforms and the broker’s daily market analysis.
To get started at FBS, simply register with an email address to open a free demo account. If you prefer to dive into retail trading, a small deposit of €10 is all that’s required. The entire process takes around 10 minutes, which means you can test your skills on over 80 trading instruments in no time at all.
FAQs
- How can I sign up for FBS?
To register for a trading account at FBS, you simply need to provide the broker with your email address and a few personal details, such as your name, age, national ID number. You must also supply proof of your address and identity, and a minimum deposit of at least €10. During our FBS broker review, our experts found that the complete process takes around 10-15 minutes.
- Is FBS safe?
Yes, FBS is a safe forex broker as it meets regulations set by the Cyprus Securities and Exchange Commission (CySEC). CySEC is one of the strictest regulators in the world for forex and CFD trading. As such, you can expect the broker to act responsibly and fairly at all times. FBS also offers you fund security mechanisms such as negative balance protection and investor compensation.
- Does FBS charge commission fees?
FBS only charges you commission fees if you choose to trade indices or commodities. Forex trading is commission-free, as are deposits and withdrawals via all banking methods. This transparent pricing plan allows you to calculate your costs easily and makes the broker great for beginners and experienced traders alike.
- What products can I trade with FBS?
FBS offers over 80 trading instruments. This includes all the major and minor forex currency pairs and exotic pairs such as USD/ZAR (South African Rand) and EUR/TRY (Turkish Lira). You can also diversify your portfolio with commodities like Brent and WTI crude oil, precious metals, and stock indices are available.
- How much money do I need to trade with FBS?
FBS requires a minimum deposit of €10 for a ‘Cent’ account. For an FBS Standard account, you’ll need a minimum deposit of €100. This is quite accessible, compared to other forex brokers, and means you don’t need to commit a huge amount to start with. Alternatively, you can open an FBS demo account for free. This allows you to try out the broker and its platforms.
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