Founded in 2009, FBS is an online forex broker which quickly gained momentum and still maintains a sterling reputation amongst traders, achieving a steady rate of new membership of 7,000 daily, even a decade later. Forex isn’t the only market that FBS provides for its membership of over 13 million traders, with CFDs, stocks, and more are also tradeable with leverage of up to 1:3000 (for non-EU customers only) and no commissions accompanying the majority of instruments and accounts.
In over 190 countries, FBS instills confidence among traders thanks to strict regulation from CySEC and the IFSC, and rock-solid trading foundations built on a hybrid Straight Through Processing and Electronic Communications Network model.
FBS Account Types
The FBS broker offers 4 account types to their customers and traders. Cent Account is created for beginners to facilitate their introduction to the Forex market. This means that they can deposit very small amounts (e.g. $1) and are given access to try out the platform, the currency pairs, and the market in general. If you have spent a reasonable amount of time on the Cent Account and think that you are ready for real business, register with the Standard Account. This account is for more experienced traders. Another account that is good for, and recommended to, beginners is the Fixed Spread Account. This is a great option for other traders as well who want to play safe not risking too much of their investments. Fixed spreads mean that the spread remains the same, regardless of what happens in the market (at least most of the time). The last account, i.e. the unlimited account is mostly suitable for professionals and investors.
- Cent Account available for beginners ($1 minimum deposit)
- Standard Account for more experienced traders
- Fixed Spread Account for risk-averse traders
- Unlimited Account for experienced professionals and investors
Forex broker offers the following underlying assets for trading.
|30+ Currency Pairs
|Based on major and minor world currencies.
|4 Indice CFDs
|Based on baskets of different blue-chip stocks.
|4 Metal CFDs
|Based on Gold, Silver, Palladium and Platinum.
|2 Energy CFDs
|Based on Crude Oil (WTI, Brent).
|40+ Stock CFDs
|Based on shares of US companies.
Commissions and Spreads
This broker does not charge any commissions or fees on trade. Instead, they charge spreads. This means that they add an additional spread on a currency pair. How wide the spread gets, depends again on what account you use. Standard accounts start with a minimum spread of 1 pip. For the unlimited type of account, the spread starts off with 0.2 pips. These spreads are floating spreads in both cases.
The education section at FBS is well-structured and well-organized, and all material is free. Education is split into five sections:
- Forex Guidebook – the core of the education section, this is one of the better guides to Forex trading we have seen. It is split into chapters for Beginner, Elementary, Intermediate, and Experienced traders. This guidebook will be useful in some form for almost all readers.
- Tips for Traders – a frequently updated blog with useful posts covering various aspects of trading in an erudite and informal format. Recent blog posts include Triple Screen Trading Strategy and Bill Williams Fractals Indicator.
- Webinars – includes a schedule and register of upcoming webinars. FBS holds webinars weekly from its office in Moscow, and registration is a simple procedure.
- Video Lessons – as you would expect, this is a collection of short videos covering various aspects of Forex trading – good for those who prefer watching to reading, but not as comprehensive as the Guidebook.
Is FBS regulated?
Yes, our review of FBS found that the broker is regulated and licensed by CySEC, which ensures regular reporting, transparency, and fairness for EU clients. For those trading outside the EU, it is regulated by the International Financial Services Commission of Belize (IFSC).
Can you withdraw FBS bonus?
Yes, if you are trading from a country that allows a bonus from FBS, it can be withdrawn after two lots are traded and profit reaches $25. To withdraw, proper account registration and verification is required too. This means supplying FBS with proof of identification and address.
What is FBS account?
FBS offers two live trading accounts (Standard and Cent) and two demo account types (Standard and Cent). There are zero commissions on trades, leverage of up to 1:30, and spread starting from 1 pip. Standard accounts are available with a €100 initial deposit, whilst Cent accounts start from €10. Swap-free accounts are also available.
How long does FBS withdrawal take?
Withdrawal times at FBS depend on which method you are using to receive your funds. All withdrawals are processed by the broker within 48 hours on business days. E-wallet and crypto transfers are processed within minutes, whilst wire transfers can take up to 48 hours.
What is the minimum deposit on FBS?
Minimum deposit limits at FBS depend on the account type you have selected. For international clients, there is a micro account that allows deposits from $1. For European clients, the lowest entry point is the Cent account at €10. Standard accounts require a minimum deposit of €100.