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Want to see if FBS is a legit broker? Is it safe to trade? It spread is high or low? How long to deposit or withdraw funds?

We provide answers to all the questions in this FBS Review.

We checked all FBS licenses and regulations to see if FBS scam or safe. We compared FBS fees like spread & commission from its live account to over 150 brokers, required time for deposit & withdrawal and many more findings all in this review.

What is FBS

FBS is global Forex and CFD broker, established in 2009. For many years FBS operated only through its Belize entity and back in 2017 obtained license from Cyprus CySEC becoming a legit broker for European clients.  

FBS highlights

๐Ÿ—บ๏ธ Regulated inBelize, Cyprus
๐Ÿ›ก๏ธ Is FBS safe to tradeYes
๐Ÿ’ต EUR/USD spread0.7 pips
๐Ÿฆ DepositBank Wire, Cards, Skrill, Neteller
๐Ÿ’ฐ Minimum depositUS$10
๐Ÿฆ WithdrawalBank Wire, Cards, Skrill, Neteller
๐Ÿ’ป Trading platformMT4, MT5, FBS Trader
๐Ÿ’ณ Trading marketsForex, CFDs on Indices, Shares, Metals, Energies
๐Ÿ“ˆ Number of product100+
๐Ÿ“‰ Live chat responseInstant and relevant answers

Regulation

License and regulation are crucial to tradersโ€™ fund security. There are two facts checked, the brokerโ€™s license and its background, second how are you protected if something goes wrong.

Is FBS legit

FBS is regulated Cyprus CySEC and registered in offshore Belize.

FBS licenses and status

EntityRegistered inRegulatorLicense no.Status
Tradestone LimitedCyprusCyprus Securities and Exchange Commission (CySEC) 331/17Currently Regulated
FBS Markets IncBelizeInternational Financial Services Commission (IFSC) IFSC/000102/124Registered
FBS Review โ€“ CySEC License
FBS Review โ€“ CySEC License

Is FBS safe

Even through FBS is not regulated by top-tier authorities it is considered safe because it is regulated by CySEC.

FBS operates 2 entities, mainly through Belize entity, which is offshore jurisdiction that lacks serious regulation and overseeing. However, few years ago FBS opened legal Cyprus entity and obtained CySEC license with ESMA overseeing making a good step towards transparency.

FBS compensation scheme

EntityCompensation AmountNegative Balance Protection
Tradestone Limitedโ‚ฌ20,000Yes
FBS Markets IncNo compensationYes

We recommend to register account with the Cyprus since it is more safe jurisdiction according to regulations

FBS provides negative balance protection for the traders, your account balance converts to 0 in case trades go negative.

Markets and Products

At FBS you can tradeForex, CFDs on Stocks, Indices, Oil and Metals.

For the negative side popular assets like Cryptocurrencies or Futures are missing, and each asset range is rather basic.  

Forex

The range of currency pairs including 37 currency pairs mainly for major and some minor pairs, plus 16 exotic pairs.

MarketsInstruments
Forex37
Indices15
Commodities9
Cryptocurrenciesโ€“
Shares37

Account types

FBS offers two account types, plus two demo accounts.

Cent Account and Standard account are two accounts, Swap-free accounts or Islamic Accounts are available upon request.

Login

Login Account is on FBS website, you can register account step by step and login to FBS online area.



StandardCent
Minimum Deposit100 USD/EUR/GBP10 USD/EUR/GBP
Order Volume0.01 โ€“ 500 lotsMax 500 cent lots
Spreads From1 pips1 pips
CommissionsZero CommissionsZero Commissions
FBS Review โ€“Accounts
FBS Review โ€“Accounts

Fees and commissions

We ranked FBS fee levels low and average based on Live Account Spreads and compared to 150 brokers in our database.

The spread we collected for popular instruments from 6 markets and over 150 brokers

MarketsInstrumentsLowAverageHigh
ForexEUR/USD0.1-0.91-1.51.6 or higher
IndicesUS 5000.1-0.40.5-1.41.5 or higher
CommoditiesGold0.1-0.40.5-22.1 or higher
StocksTesla0.1-0.50.6-11.1 or higher
ETFsUS Russell 20000.1-0.40.5-1.41.5 or higher
CryptocurrenciesBitcoin0.1-0.5%0.6-0.9%1% or higher

Spreads

FBS fees are built into a variable spread. Spreads might be different in each of offered platforms and entity likewise.

Spreads are different in Cent and Standard accounts, and are variable tight spreads with no commission charges. On our test trades via MT5 platform the average spreads are high for Stocks and Indices compared to industry benchmarks and low for Forex.

MarketsInstrumentsStandard accountOther brokersโ€™ avg spread
ForexEUR/USD0.71-1.5
IndicesUS 5002.50.5-1.4
CommoditiesGold30.5-2
StocksTesla90.6-1
ETFsUS Russell 2000โ€“0.5-1.4
CryptocurrenciesBitcoinโ€“0.6-0.9%

Other Fees

FBS has low non-trading fees. There is no fee for deposit, or withdrawals, or inactivity fee.

Trading Conditions

The trading conditions at FBS are good. Almost all trading strategies are allowed including scalping and hedging.

Trading ConditionsYes/No
Hedging AllowedYes
Scalping AllowedYes
Change Leverage AllowedYes

For hedging, there is no time limitation for positions.

Scalping is allowed too, FBS cooperating with numerous VPS service providers and offering free VPS service for a reach of defned lots traded, Expert Advisors (EAs) trade with no restrictions.

FBS Leverage and the change of leverage maximum levels depending on the entity regulations and goes up to 1:500.  

Copy Trade

Copy trade is available through MetaTrader platform to copy deals of other traders.

Deposit

FBS charges no deposit fees. You can use bank transfer, credit cards, and e-wallets. The range of supported payment methods is different for international and European clients.  

A bank transfer can take several business days, and payments with credit/debit cards and e-wallets are instant.

Deposit MethodFunding TimeFee
Bank Wire Transfer3-4 Working Days 0$
Credit / Debit CardInstantly0$
Skrill, NetellerInstantly0$
Rapid by SkrillInstantly0$
FBS Review โ€“ FBS Dashboard โ€“ Deposit
FBS Review โ€“ FBS Dashboard โ€“ Deposit

Minimum Deposit

Cent account requires only 10$ or equivalent at the start, and Standard account demands 100$.     

Withdrawal

FBS covers fees for withdrawals and similarly to deposits using the same methods.

Withdrawals are processed quickly maximum up to 2 days, plus additional days for money to appear on your account due to payment providers.

Withdrawal MethodWithdrawal TimeFee
Bank Wire Transfer48 HoursFree
Credit / Debit Card15-20 minutes (max 2 days)Free
Skrill, Neteller15-20 minutes (max 2 days)Free
Rapid by Skrill15-20 minutes (max 2 days)Free

Bonus

FBS offers very rich range of bonuses and promotions, however all available for international entity clients only. FBS promotions including 1005 deposit bonus, cashback programs, access to highest leverage, level up bonus and more, also there are various contests and loyalty programs.

FBS Review - Promotions
FBS Review โ€“ Promotions

Trading Platform

FBS offers good variety of platforms including popular MetaTrader4 and MetaTrader5, also proprietary FBS Trader.

MT4

FBS MetaTrader4 is supporting multiple languages, and available across all devices Windows, Mac, and Mobile Apps for Android and IOs.

FBS Trader

FBS Trader is simple to use mobile app with FBS Mobile Personal Area where Live Chat is available and including options to manage deposits, withdrawals, account details and internal transfers.

FBS Review โ€“ MT4 platform
FBS Review โ€“ MT4 platform

Research and Tools

FBS has good research tools. You can findEconomic Calendar, Currency Converter and Forex Calculator on the website and range of tools on the platforms.

From the negative points there is no Fundamental data from market leading providers, analytics, technical analysis and daily market analysis are provided by inhouse professionals only.

FBS research tools are available in different places:

  • Trading platforms
  • Analysis & Education section on the website
FBS Review โ€“ Research
FBS Review โ€“ Research

Education

FBS education content is informative and well-organized. You can learn through trading videos, Webinars, Forex TV, News feed and Daily market updates.  

FBS education is overall good experience and you can learn by:

  • Demo account
  • Trading videos and articles
  • Webinars, Courses โ€“ FBS Forex Intensive
  •  โ€˜Educationโ€™ on Website

Demo Account

Demo account is offered on free basis and available for all platforms and both account types Standard and Cent.

FBS Review โ€“ Education
FBS Review โ€“ Education

Customer Service

FBS customer service is great, Live agents are helpful supporting various languages and available 24/7, we also got fast answer via the Live Chat.

Customer Support available by:

  • Live chat
  • Telephone
  • Email
FBS Review โ€“ Customer Service โ€“ Mobile personal Area โ€“ Live Chat
FBS Review โ€“ Customer Service โ€“ Mobile personal Area โ€“ Live Chat

FBS live chat is the fast speed we connected almost instantly, Chat agents also available on the platform, mobile app and website

Question AskedWe asked about trading costs.
Time of ReplyWe were connected to customer support Live Chat almost instantly
Quality of ReplyThe answer was good, also refereeing to relevant entity conditions and accounts

Conclusion

FBS is a safe broker to trade. The company is regulated by Europen CySEC according to ESMA regulation, however does not hold any top-tier licenses like FCA.

FBS offers flexibility between selection of the platform and account types, including copy trading suitable for beginners or professionals.

From the downsides, costs and spreads for some instruments like Stocks are high compared to industry and asset range is basic.

We recommend FBS for beginning traders who prefer flexibility between trading platforms and accounts including Cent trading.

Author of this review

By Jimmy O'Brien

Author of this review

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets.
I am passionate about observing foreign exchange movements, sharing educational insights into the financial markets, and adding value wherever I can.

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1 Comment

  1. Am an FBS Client i have been asked to pay $700 today for my withdrawal process

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