Regulators: IFSC, CySEC
Cryptocurrencies: YES
Minimum Deposit: $1
Maximum Leverage: 1:3000
Spreads: Low
My Score: 7.0
FBS is a broker that attracts many investors who have started forex trading. Because it offers extraordinarily competitive trading conditions. There are types of accounts that can be suitable for almost every investor type. Whether you are a long-term investor or a scalper, it does not matter.
Bonus and promotional campaigns are held quite often. I think it’s one of the most generous forex brokers on the bonus campaigns. XM and AvaTrade are also brokers that offer as good a bonus as FBS Forex. Is the FBS a good broker? In this FBS Forex Broker review, you will find detailed information about FBS account types and demo accounts, spreads, leverage and bonus campaigns.
Let’s start.
FBS is a broker founded in 2009. Actually, I can say it’s pretty oldin forex world. However, in recent years it has become a very popular forex broker. FBS has strengthened its position especially in Asian countries. The official website has about 2 million visitors per month. In addition, they also open a website in a country that has a special domain in the countries where they operate. For example: , they use the vnfbs domain for Vietnam while using the fbsmy domain for Malaysia. They also use the esfbs domain for Spanish-speaking South American countries. In this way, there are 19 different websites. So if we count the number of visitors, there are about 5 million visitors per month. It’s a pretty high number. In the following image you can see local web sites for 19 different countries.
FBS Regulation and Licences
FBS forex broker is regulated by two watchdogs: IFSC in Belize and CySEC in Cyprus. Why is FBS not licensed by FCA? They generally answer this question: The FCA license has a strict policy. When offering forex trading to many countries, it is more convenient to use more flexible licenses. The IFSC has a fairly liberal control over brokers. However, the CySEC license also has strict requirements similar to FCA and ASIC. So I can say the CySEC license is reliable and reputable.
Client funds of brokers under the CySEC regulation are guaranteed by the Investor Compensation Fund in the case of insolvency of the broker.
Account Types and Spreads in FBS
FBS is very competitive in terms of account types. FBS has investors from many countries. There are 19 more local websites. You can find a wide variety of account types in FBS. You can see these account types in the following table.
| Methods | Processing Times (Deposit) | Currencies |
|---|---|---|
  | Instant | USD, EUR |
 | 5-7 days | USD, EUR |
 | Instant | USD, EUR |
 | Instant | USD, EUR |
 | Instant | USD, EUR |
 | Instant | USD, EUR |
 | Instant | BTC |
 | Instant | JPY |
 | 1-3 days | USD, EUR |
 | 72 hours | USD |
Cent account is very convenient and advantageous for novice investors. So you can earn real forex trading experience without any risk. Also investors who want to try out a robot or a new trading strategy may prefer this type of account. The minimum deposit for this account type is only $ 1. The maximum leverage is 1: 1000. It is an account type similar to nano accounts in XM and FXTM.
For Micro account type, the maximum leverage is 1: 3000. The property of this account is fixed spread. Standard account is similar to standard account in other brokers. Avreage spreads are 0.9 pips on EURUSD. If you do not want a floating spread, you can choose Zero Account. There is 0 pip spread in this account type, but $ 20 commission is charged per lot as round turn.
In ECN and Unlimited Account types the maximum leverage is 1: 500 but spreads are more competitive.
Deposit and Withdrawal Methods in FBS
Deposit and withdrawal methods are sufficient. You can deposit or withdraw funds using the methods you can see in the table below.
| Account type | Minimum deposit | Minimum trade size | Maximum leverage | Average Spreads (& Commission) |
|---|---|---|---|---|
| Cent | $1 | 0.01 lot | 1:1000 | 2 pips |
| Micro | $5 | 0.01 lot | 1:3000 | 3 pips, fixed |
| Standard | $100 | 0.01 lot | 1:3000 | 0.9 pips |
| Zero Spread | $500 | 0.01 lot | 1:3000 | 0 pips, fixed + $20/lot |
| Unlimited | $500 | 0.1 lot | 1:500 | 1.1 pips |
| ECN | $1000 | 0.1 lot | 1:500 | from -1 pip + $6/lot |
FBS Bonus and Promotions
As I mentioned at the beginning of this review, FBS is one of the most generous forex brokers in terms of bonuses and promotions. There is a wide range of bonus campaigns. One of the first preferences of investors who want to use a no deposit bonus is FBS. Another alternative for no deposit bonus is XM Forex.
- $50 no deposit bonus
- $123 welcome bonus
- %100 bonus for deposit
- iPhone X promotion
- Cashback campaign for traders
If you want to use FBS no deposit bonus as $50, you should open a forex account and verify this account via personal informations. And then you trade with leverage as 1:500. This bonus is not withdrawable but profit from this bonus account is withdrawable after you traded 2 lots and reached $25 profit. Maximum profit is $500 that you can withdraw.
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FBS
Pros
- Wide variety of account types
- Competetive spreads
- Bonus and promotions
- The lowest minimum deposit as $1
- The highest maximum leverage as 1:3000
Cons
- Regulated by weaker watchdogs
It’s very simple and easy to open an account and deposit with FBS but making withdraw or find help from support team is very difficult process.
Be wise stay away from FBS