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A Factual FBS Review For Retail Forex Traders

FBS is a global-scale broker, sticking to the principle of finding individual approach to each client.Leverage up to 1:3000Trade now

Contact Info

  • Website: www.fbs.com
  • Myanmar: +951 651135
    Philippines: +632.632.7634
    Tunisia: +216 52 925 626
  • Office address:
  • No. 414, 9th Street, Thamine (1) Ward,
  • Mayangone Township,
  • Yangon

FBS, or Financial Brokerage Services, is predominantly an Asian Forex broker that has its offices in China, Malaysia, Philippines, Indonesia, Jordan, Vietnam, and Russia. The IFSC in Belize is the primary regulatory organization that regulates all the financial components of the company. FBS regulation is not one of the high points for the firm since most trusted brokers are regulated by organizations such as the CFTC, NFA, FCA, ASIC, and CySEC. Belize is a tax haven, and the regulatory guidelines of IFSC are still under debate as to whether it can be compared to the more established and highly reputed international regulatory organizations.
FBS was initially based out of Russia and started its FX operations in 2009. The broker claims to have more than 700,000 clients from 120 different countries across the world. Although that might be an accurate representation of the reach of the broker by modern standards, the reality lies in the fact that the broker does not have any traders from the US, and the lack of EU regulation also prevents the broker from actively promoting their services in the Euro Zone. However, despite all the confusion surrounding the regulatory status, the broker has indeed managed to receive numerous awards and recognitions for their services. The broker has also been able to receive positive FBS reviews from existing customers; however, the broker is not entirely free from criticisms either.

FBS Trading Account Features At A Glance

One the main reasons why traders choose FBS is due to the very low barrier to enter the markets, as the minimum deposit required for an FBS account is $1. There are two types of accounts available for smaller traders, which include the Cent and the Micro accounts. The Cent account starts at $1 deposit, while the Micro account starts at $5 deposit. The Cent account also has very tight spreads starting from 1 pip, and the Micro account has fixed spreads starting from 3 pips. The maximum leverage offered is different for both accounts, as the Cent account has a maximum leverage of 1:1000 and the Micro account has a maximum leverage of 1:3000.

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The Cent account is certainly the more attractive proposition here due to the reduced cost of trading, as on the contrary, the Micro account spread of 3 pips is immensely higher than the average Micro account. Traders with a higher deposit of $100 can take advantage of a Standard account that has all the features of the Micro account albeit with tighter spreads of 1 pip.

The ECN account is offered as a Zero Spread account, which allows traders to enjoy up to 0 pips in spreads at the cost of a commission of $20 per lot. The minimum deposit required for the ECN account is $500, while the leverage is set at a maximum of 1:3000. The final type of trading account is the Unlimited Account that is usually reserved for institutional and professional traders, which offers a maximum leverage of 1:500 along with floating spreads starting from 0.2 pips. There is no commission for the unlimited account, and the initial deposit starts from $500. The Unlimited account is the best type of FBS account due to its favorable trading conditions, lower cost of trading, comparatively lower leverage, and high speed of trade execution.
FBS utilizes the MT4 and MT5 trading platforms for accessing the FX markets on both desktop and mobile devices. The FBS trading platforms are connected to high-speed servers, and the company has tweaked the platform slightly to offer the best trading results. The FBS mobile platforms are available as downloadable MT4 apps on the iTunes and Google Play stores, while traders can also use the MT4 Web Trader for browser-related trading requirements.

How Does FBS Treat Their Clients?

fbs forex tradingFBS customer support is available in 18 different languages and is designed to offer the most comprehensive support to clients from a majority of Asian, European, and Middle Eastern clients. The live chat feature is an excellent feature to get immediate assistance, and official correspondence can be made through emails or phone calls.
Unlimited account holders also enjoy SWAP-free accounts, which is a great feature for long-term traders who hold on to overnight trades. FBS account can help in reducing the cost of trading to a great extent, which is indeed one of the most significant advantages of FBS.
One of the other perceived benefits of FBS is the availability of a 100% deposit bonus, which is offered for all traders opening a new account making their first deposit. The FBS bonus is certainly not preferred, as a majority of negative FBS reviews are due to the conflicts arising between traders and FBS over withdrawal issues. Brokers only offer a bonus if traders are willing to accept their terms and conditions, and it is often difficult to satisfy these trading conditions before making a withdrawal of the initial invested amount.
The maximum leverage also plays negatively to the company’s strength, the 1:3000 leverage is indeed the highest offered by any broker in the industry. Novice and even experienced traders are susceptible to the risks of higher leverage, as a huge margin of 1:3000 can wipe out the investment with just a 3 pip move. Considering that the starting spread for the Micro account is 3 pips, it is easy to understand how a trader can face a margin call for initial deposits as low as $5. The high leverage is also another factor that contributes to the overall negative image of the company.
On the other hand, if used wisely, both leverage, as well as lower spreads, can work remarkably in the trader’s favor. Profitable FX trading is dependent on striking the perfect balance between all the different tools of the trade, and if done carefully, FBS offers the best resources for making consistent profits in the Forex markets.