FBS Forex Broker – What do we think about it?

In today’s financial industry, foreign exchange is by far the biggest trading market in terms of daily traded volume of well over 5 trillion US dollars and its multitude of participants. This also means that no market is more liquid than Forex.

For these qualities, the currency market attracts millions of traders and brokers from all around the world. For brokers, the catch is about attracting as many new traders as possible and expanding their platform.

Unfortunately, though, not all brokers are doing that honorably. The internet is full of fraudulent brokerages that promote their fancy trading terms like the highest leverage ratios, shallowest spreads, and fancy websites. But underneath all that, there hides a scam that is designed to steal people’s money.

Distinguishing scammers from trustworthy brokers isn’t easy but it is definitely possible. Today, we’ll try to do just that with the FBS Forex broker by taking a look at what the broker offers to its clients. So, without further ado, let’s get started.

FBS is a Forex trading broker that was established in 2009 in Belize. In its 11 years of operation on the market, the broker has expanded its platform by increasing the number of trading symbols from just Forex pairs to CFDs, commodities, and stocks.

One very special thing about the FBS Forex broker is that from January 1st, 2020, the broker has become the main trading partner of one of the most renowned football teams, FC Barcelona. Being chosen by such a legendary team only means one thing: that FBS has a sturdy reputation in the trading industry.

But what makes its platform so appealing? Well, we’re here to find that out.

The safety and security of  FBS

Moving on, let’s take a look at the regulatory material. As FBS openly points out, the company was registered in Belize in 2009 with a financial license granted by the International Financial Services Commission – the main regulatory body of the country.

A lot of the FBS scam suspicions stem from the fact that the broker doesn’t have a license or the IFSC license isn’t powerful enough to restrict the broker’s activities. In our opinion, though, neither of those claims is close to the truth.

The IFSC license is one of the most popular financial regulatory materials one can find today. Lots of trustworthy brokerages are proudly showcasing this license to prove they’re complying with sturdy rules and guidelines. For that reason, we think that those reports and suspicions about the FBS fraud aren’t accurate and the broker is as legit as it can get.

Fees and spreads of FBS

We’ll start with the leverage and spreads. On FBS, the maximum leverage you can get is 1:3000, which is just bananas considering how big your prospective account size can become after applying such a multiplication rate. But it’s also worth noting that in the same section, where leverage ratios are presented, the broker notes that this is a dangerous feature, and traders should be extra careful when using it.

As for spreads, FBS has varying offerings to its clients: A floating spread of 1 pip for Cent Account holders, a fixed spread of 3 pips for Micro Account holders, a floating spread of 0.5 pip for Standard Account holders, a fixed spread of 0 pip for Zero Spread Account holders, and floating spread from -1 pip for ECN Account holders.

These spread rates ensure that when traders enter any market, be it Forex, stocks, or metals, they’re going to get the maximum amount of profit they’ve earned. The broker is very open about how much it takes from individual trades and in many cases, it doesn’t take anything at all.

FBS Accounts, deposits, and withdrawals

Last but not least, let’s discuss trading numbers and other terms. As we noted earlier, different trading accounts have different, yet astonishing, terms and conditions, and now we’re going to explore those.

There are standard, cent, pro, ECN, crypto, zero spread, and micro account types currently available at FBS. All these account types ensure that every kind of trader can find their preferable trading environment with proper spreads, commissions, and asset classes to trade.

Trading terms for these accounts are super attractive, even one of the best in the FX trading world right now. The spreads for standard accounts start from 0.5 pips and there are no commissions. This is probably in the top 3 brokers in the world as many brokers offer spreads around 1 pip. The leverage for standard is 1:3000 which is much more than enough to trade as you desire.  Going on to the next trading account type is cent with 1 pip spreads and 0 commissions as well.  Cent account leverage is 1:1000, smaller than standard but still plenty. Pro account comes with 0 commissions, 0.5 pips spread, and 1:2000 leverage. ECN has moderate leverage of 1:500, spreads are from 0 pips, and commission is 6 USD round-turn per lot which is lower than the industry average commission. Crypto account is focused on digital currencies and offers leverage of up to 1:5 which is very standard for crypto trading, commission is 0.1%, and spreads start from 1 pip. Micro account has a leverage of 1:3000, spreads from 3 pips, and 0 commissions. Zero spreads account comes with the same 1:3000 leverage, 0 pips spreads, and commission of 20 USD per lot round turn which is a bit high. As we can see there are plenty of trading accounts to open and operate. With these many account types finding the most suitable one is easy.

Then there are FBS promotions that range from Trader Parties all the way to Cashback bonuses. Also worth noting in this section is the 100% Deposit Bonus, which is a promotion applied to any FBS client with no time limitations. This and other bonuses make trading so much more exciting.

Finally, let’s talk about financial platforms. On FBS, traders can use lots of different methods to deposit and withdraw their funds. For deposits, they can use credit cards, local exchanges, Skrill, Neteller, bitwallet, and many more. As for FBS withdrawals, the same platforms are available with a maximum processing time of 48 hours (usually it takes 15-20 mins). One thing to note here is that bitwallet withdrawals are effective immediately – an advantage of crypto payments.

FBS Trading assets and features

Forex, metals, indices, energies, stocks, forex exotics, and cryptos are all available on FBS MT4, MT5, and FBS platforms. The FBS platform is a newly developed proprietary trading software offered to FBS clients. Cryptos are especially popular lately and FBS offers dedicated trading accounts to appeal to crypto traders while maintaining the attractive terms for other instruments.

The website overview

First things first, we have to start with the website and software support. Now, while the interface isn’t the most simplistic one we’ve seen in our experience, it certainly has a professionalistic feel to it. The combination of grass greens and greys renders the whole website pleasant to look at while the information provided becomes more defined.

The website is divided into five thematic sections: Trading, Partnership, Promotions, Analytics & Education, and About. Each of these sections contains valuable information about how exactly trading is done on FBS FX brokerage. We were able to find every little detail about leverage and margin, spreads, overnight fees, etc.

Then we went on to explore trading accounts and found five different packages: Cent, Micro, Standard, Zero Spread, and ECN accounts. When you look at the offerings of these individual accounts like 1:3000 leverage, you’ll have a hard time not being astonished. We’ll cover these offerings in the final chapter of this review.

Finally, there’s the trading platform support. Every FBS client, regardless of their account choice, is going to get the FBS MT4/MT5 full support, meaning some of the best MetaTrader programs are in their service to make the most of their trades. On top of that, the broker offers its own proprietary desktop platform that also works on iOS and Android smartphones.

Customer Support Review of FBS

As with any popular broker FBS support offered is multilingual and offers advanced live chat to connect directly with the broker customer support representatives. live chat is very appealing for traders as it offers the ability to resolve any issue conveniently. Other support methods include an email address and a hotline. It is also possible to leave a message through an online form. All these forms are offered in 16 different languages enabling traders from all over the world to quickly contact the broker in case of an emergency which is super advantageous.

FBS support is a team of highly trained representatives who offer necessary help to traders and help them resolve any issues that may arise during the trading processes. Having support this responsive and helpful is a great thing for beginner traders who may need help when they start their trading journey.

FBS Education

education and analytics are a dedicated section of FBS brokers. Each of them is full of useful materials and tools that can increase trading performance. Educational resources include the Forex guidebook, tips for traders, webinars, video lessons, seminars, and a glossary. As we can see, the resources are very diverse and plenty of methods are given if a trader wants to learn FX trading in more detail. From the tools, the important ones include the economic calendar, Forex calculators, and currency converter. despite these tools, there are analytics offered to their clients including Forex News, Daily Market Analysis, and VIP Analytics.

For beginners, the best way to learn to trade is to register on the webinars and study trading courses led by experienced Forex traders who are eager to teach newbies how these markets work. These webinars are periodically available after they are over and traders will have to watch its schedule closely. Another great way for education is through video tutorials that FBS offers, these tutorials include basic guides on the FBS interface, trading platforms, registration, opening and closing tradees, and so on.

Should you consider FBS?

In this FBS review, we talked about the broker’s website, licensing, and trading terms and conditions. We examined everything from interface design all the way to financial platforms and withdrawal terms.

Judging from everything we’ve discussed, be it 1:3000 leverage ratios, 0 spreads, a very informative website, and sturdy licensing, there’s only one logical conclusion to this review:

FBS Forex Broker is a trustworthy enterprise that is focused on customer safety and satisfaction. It offers trading terms that are designed to make trading as lucrative as it can get while not sacrificing the customer’s financial stability. Therefore, we can recommend this broker to anyone who wants to start trading right now!