Let's start a combing camparison between Two brokers' widely used tools, mobile apps, platforms, spreads, and more.
Regulated by IFSC, CySEC
In this ever-evolving Foreign exchange industry, FBS is indeed rolling as a BIG name since the dawn.
This widely controversial brokerage was formed back in 2009 and it's been operating globally since then.
The broker was entitled as well as awarded numerous achievements over time.
Besides, FBS was not always meant to be a Cyprus-based brokerage as it was first fabricated only in Belize. To be completely honest, the expansion was quite a necessary initiative so that more traders can enjoy the smart and secure trading environment of FBS.
Despite having a HUGE pack of features, the brokerage is heavily regulated as well as offers a vast number of effective trading tools.
As if that's not enough!
VISA, bitwallet, Local Exchangers, Neteller, PerfectMoney, Skrill, SticPay
VISA, bitwallet, Local Exchangers, Neteller, PerfectMoney, Skrill, SticPay
FBS offers 4 types of trading accounts which are categorized specifically so that traders can choose the suitable trading account for themselves.
However, the account types usually go like this:
Let's get a closer look at those accounts:
To begin with, the Cent accounts are specially made for beginners who've just been introduced to the most volatile market ever.
The account only requires a deposit amount of $1 along with that they'll be granted a relatively low spread of 0.1 pips. Besides, the cent accounts don't require any extra commissions.
And then it's time for the Standard trading accounts to come into action as it is solely made for specific traders who are in between both the newbie and experienced category.
The required deposit amount here is $100 with a spread of 0.5 pips and a leverage rate of 1:300. Most importantly like the cent accounts, you don't need to pay any extra commissions on this.
Moving on to the Fixed spread accounts which also goes by the name "Zero spread account" as it offers a spread rate of 0.0 pips.
That's the reason why it charges a commission fee of $20.
Furthermore, the minimum deposit amount is $500 which is required to use the account.
And as for the ECN trading accounts, well it's for expert market figures only whose primary objective is to trade on a long-term basis.
The required deposit amount for the ECN is $1000 with a commission fee of only $6 and which is without a doubt quite low compared to most other brokers.
Not only that, you'll get a leverage ratio of 1:5000 in the ECN accounts.
Lastly, FBS prioritizes market execution more than instant execution which is completed through the NDD(Non-Dealing Desk) process.
FBS is not only known worldwide for its safe and secure trading environments, there's more to it than meets the eye!
As they also offer a wide range of market assets to trade on except cryptocurrencies which is undoubtedly a major drawback. But on the bright side the renders:
Forex: You'll be eligible to trade on more than 28 currency pairs including 16 exotic pairs.
Metals: Availability of precious metals including gold, silver, platinum.
Energies: Availability of hugely traded energies like Brent crude oil, WTI.
Stocks: You'll be able to experience up to 40 major company shares.
Indices: You'll be able to trade on a wide range of indexes including the HUGELY popular NASDAQ.
Note: Due to diverse legal statics FBS doesn't allow any traders to trade on cryptocurrencies especially BTC.
If it ever comes to regulations and licensing FBS has what it takes. To be more specific, they can outperform their competitors in the aspect of legitimacy. Moving on, FBS is regulated by two of the tightest regulatory bodies in the entire trading sphere.
Which goes like this:
The EU division is regulated by CySEC (Cyprus Securities and Exchange Commission)
The global division is regulated by IFSC (International Financial Services Commission of Belize)
Hold on, more incoming!
In the EU region, FBS also provides negative balance protection which has proven to be a MASSIVE advantage for the retail market traders in recent days.
Note: FBS doesn't accept any clients from the USA; rather than that if you're from other Asian and European countries, you're good to go.
FBS is not only considered as one of the tightest and secure Foreign brokerages but also it is widely known for providing a wide range of trading opportunities which obviously includes multiple trading platforms.
Being an NDD (Non-Dealing Desk) brokerage, FBS uses a rapid order execution as well as they render two of the most used trading platforms which are none other than,
The MT4 trading platform of FBS is HUGELY customizable and available for both PC and mobile devices. The platform also features an ultra-wide range of trading indicators and charts, availability of EA's, one-click execution, private VPS, and much more!
Moving on, as for the MT5 trading platform of FBS, well it's more of an updated version than the previous MT4. As a result, the trading tools and UI customizations are also top-notch.
That's not it!
The platform is quite versatile and that's why traders with diverse trading methods will also pretty much be a fan of it.
Out of the hood, the platform features depth market views, more technical indicators, and trading charts compared to the MT4, hedging, and nutting are also available, Finally, you'll be getting more time frames along with order types.
Note: FBS offers a web trading version for both the MT4 and MT5 trading platforms so that the traders don't have to undergo an unnecessary installation process.
When it comes to mobile trading apps, FBS has opened a door to new possibilities. How?
Well, the CEO of FBS has ensured that they will provide a personalized trading app that goes by the name "FBS Trader" along with their other trading apps. In addition, they provide both the MT4 and MT5 trading platforms in their mobile trading app.
And guess what, the trading app is loaded with awesome and effective trading features including several trading indicators, technical analysis, one-touch execution, time frames, copy trade, social trade, economic calendar, and much more!
Apart from that, the mobile trading app of FBS comes with multi-language support along with a user-friendly and easy-to-use interface.
We know, as if that's not enough, right
Let's face it!
There are still some myths about Forex trading that need to get a proper disclosure. Such as a broker is considered a scam if he provides certain trading bonuses and promotions to traders.
Like seriously!
Moving on, out of all people the traders know that FBS is a trusted name that too for a reasonable amount of time. And yes, they do provide trading bonuses including a sign-up bonus which is given to the new traders.
So, if you wish to get one of those then simply register an account with FBS and get a $100 welcome bonus.
Note: Though FBS provides a welcome bonus to certain traders, you won't be getting any referral bonus from them.
FBS is well aware of the fact that providing multiple transaction methods is quite significant.
So, they've lived up to that by providing an ultra-wide range of transaction methods including bank wire transfer( available in EU only), Visa, MasterCard, Neteller, Skrill, i.e.
Besides that, the required minimum deposit amount of FBS (EU branch) goes like this,
On the other hand, in the global accounts, the minimum deposit starts from $1 which is required for the cent accounts. In the same way, $5, $100, $500, and $1000 are needed for micro, standard, Zero spread, and ECN accounts.
Though the brokerage offers instant deposit, however, the withdrawal process can get real cranky sometimes as it requires more than 48 hours to proceed.
Reliable customer support is a must-have feature for a brokerage company in order to stay at the top of the race. Bearing that in mind, FBS also fabricated a 24/7 superactive customer support protocol.
Which can be accessed via a live chat system along with phone and email communication. And that's not all, their customer support comes with multi language support including English, Portuguese, Spanish, German, Italian, and French.
Here's the contact info, in case you might need to contact them:
Forex education materials are a great way to find your way through this unstable at the same time volatile trading industry.
As it can help you to stay up to date with a lot of things. Respecting the significance of educational materials, FBS is committed to providing an effective and diverse learning center.
Where you'll find out numerous webinars, blog posts, analysis, trading tips, guide books, video tutorials, and whatnot! It is well organized and also made in using a user-friendly perspective.
So, the beginners could get a hold of everything that's been going on!
That's not all, for exclusive research purposes, you'll be given access to Forex calculators along with economic calendars.
With Demo-account, you can learn Forex market trading, master and test your own trading strategies and expert advisors online absolutely free of charge. Trade under real trading conditions on virtual funds. Choose Demo upon registering an FBS account.
You can fund your account in your Personal area, via the “Financial operations” section, choosing any of the available payment systems. Withdrawal from a trading account can be executed in your Personal area via the same payment system that was used for depositing. In case the account was funded via various methods, withdrawal is executed via the same methods in the ratio according to the deposited sums.
You can recover your PIN-code in your Personal Area on the PIN-code recovery page (available after clicking on the green button near your name in the upper panel). You will need to fill in as many fields in the appearing form as possible, attach color copies of the documents that you used for account verification and click the “Send Request” button.
Your request will be considered within 24 hours. In case your identity is confirmed, you will receive an e-mail with a recovery link. This link can be used only once. The page with your new PIN code will be available for 24 hours only. We strongly recommend you to remember or save your new PIN code in a secure place.
Margin Call is an allowed margin level (40% and lower). At this point, the company is entitled but not liable to close all open positions of a Client due to the lack of free margin. Stop Out is a minimal allowed level of margin (20% and lower) at which the trading program will start to close the Client’s open positions one by one in order to prevent further losses that lead to a negative balance (below 0 USD).
Deposit requests via other payment systems are processed within 1-2 hours during FBS Financial dept. business hours: Monday to Friday 07:00 – 19:00 GMT +3. The maximum time of processing a deposit/withdrawal request via an electronic payment system is 48 hours from the moment of its creation.
Verification is necessary for work safety, prevention of unauthorized access to personal data and funds stored in your FBS account, and easy withdrawal.
1. Choose the Verification section in your Profile settings (green button near your name in the upper left-hand part of the screen) or follow this link.
2. Fill in the necessary fields. Please, enter the correct data, exactly matching your official documents.
3. Upload color copies of your passport or government-issued ID with your photo and address proof in 'jpg', 'jpeg', 'png', 'gif' or 'pdf' format of a total size not exceeding 5 Mb.
4. Click the button “Send request”. It will be considered shortly after, the maximum time of consideration being 24 hours. In case your request is declined, you will receive a notification to your e-mail address; the reason for the decline will be stated in your Personal area.
You can change leverage in your Personal Area on the account settings page (available after clicking on the account number you need in the table on the left) in the “Leverage” section.
You will need to click on the “Change leverage” link, set the necessary leverage adjustment and then click on "Save". Attention! Leverage change is possible only once in 24 hours. It is impossible to change leverage if there are any open orders on the account.
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. ... The broker has also been able to receive positive FBS reviews from existing customers; however, the broker is not entirely free from criticisms either.
I'm happy with the bonus, However, I believe the platform might benefit from additional improvements. Otherwise, it's a great and trustworthy trading platform.
Market Signals are conventional and simple to follow. This platform is quite useful to me. It provides a decent return on investment, and brokers are happy to assist.
I'm impressed with the bonus but, I feel the platform needs to upgrade some features. Otherwise, it's a pretty decent and trustworthy platform for trading.