FBS is a Cyprus-based online forex and CFD broker established in 2009. Here's a comprehensive look at their offerings:
Regulations
Account Types
FBS offers a variety of account types to suit different trading styles and experience levels:
Standard Account: Beginner-friendly with commission-free trading and standard spreads.
Micro Account: Ideal for starting small with micro lot sizes and standard spreads.
Cent Account: Allows trading with even smaller cent lots, suitable for absolute beginners.
Zero Spread Account: Offers extremely tight spreads but charges commissions per trade.
ECN Account: Provides access to real market liquidity with raw spreads and commissions.
Swap Free Account: Shariah-compliant account with no swap fees for Islamic traders.
Account Registration
Opening an FBS account is reportedly fast and can be done entirely online.
Trading Platforms
FBS provides the widely-used MetaTrader platforms for trading:
MetaTrader 4 (MT4): Popular platform with a user-friendly interface and extensive customization options.
MetaTrader 5 (MT5): Advanced platform offering additional features compared to MT4, including hedging capabilities.
Trading Instruments
FBS offers a wide range of tradable instruments, including:
Forex: Major, minor, and exotic currency pairs.
Metals: Gold, silver, and other precious metals.
Indices: Global stock market indices.
Energies: Oil, natural gas, and other energy commodities.
Stocks: Shares of individual companies (availability may vary depending on regulations).
Cryptocurrencies: Limited selection of cryptocurrencies (subject to change).
Fees
Spreads: Spreads vary depending on the account type and market conditions. Standard accounts might have slightly wider spreads compared to some competitors.
Commissions: Commission fees depend on the account type (commission-free or commission-based).
Swaps: Overnight financing fees apply for holding positions overnight (except for Swap Free accounts).
Inactivity Fees: Accounts inactive for extended periods may incur fees.
Deposit/Withdrawal Fees: Check FBS' website for any applicable fees.
Deposits and Withdrawals
FBS offers various deposit and withdrawal methods, including:
Credit/Debit Cards
Bank Transfers
E-wallets (availability may vary)
Processing times can vary depending on the chosen method.
Education and Research
FBS provides some educational resources, including webinars, articles, tutorials, and video lessons. However, compared to some brokers, their educational resources might be considered limited.
Affiliate Program
FBS offers an affiliate program allowing partners to earn commissions by referring new traders.
Verdict
Pros:
Regulated broker (though limitations apply in the EEA)
Wide range of account types and trading instruments
User-friendly MetaTrader platforms
Islamic account option (Swap Free)
Affiliate program
Cons:
Standard account spreads might be less competitive
Inactivity fees and potential withdrawal fees
Limited educational resources compared to some brokers
FBS can be a good choice for traders looking for a variety of account options, user-friendly platforms, and access to multiple markets. However, consider the potentially wider spreads on the Standard account, limited educational resources, and CySEC regulation limitations in the EEA before signing up.
FAQ
Is FBS safe? FBS is regulated by CySEC, but check regulations based on your location for limitations. Remember, trading involves inherent risk, so conduct your own research before investing.
What is the minimum deposit? The minimum deposit varies depending on the account type. Check FBS' website for details.
Does FBS offer a demo account? Yes, FBS offers a free demo account for practicing your trading strategies before using real capital.
How do I contact FBS customer support? FBS offers customer support via phone, email, and live chat.