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.
|🗺️ Regulated in||Belize, Cyprus|
|🛡️ Is FBS safe to trade||Yes|
|💵 EUR/USD spread||0.7 pips|
|🏦 Deposit||Bank Wire, Cards, Skrill, Neteller|
|💰 Minimum deposit||US$10|
|🏦 Withdrawal||Bank Wire, Cards, Skrill, Neteller|
|💻 Trading platform||MT4, MT5, FBS Trader|
|💳 Trading markets||Forex, CFDs on Indices, Shares, Metals, Energies|
|📈 Number of product||100+|
|📉 Live chat response||Instant and relevant answers|
License and regulation are crucial to traders’ fund security. There are two facts checked, the broker’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
|Entity||Registered in||Regulator||License no.||Status|
|Tradestone Limited||Cyprus||Cyprus Securities and Exchange Commission (CySEC)||331/17||Currently Regulated|
|FBS Markets Inc||Belize||International Financial Services Commission (IFSC)||IFSC/000102/124||Registered|
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
|Entity||Compensation Amount||Negative Balance Protection|
|FBS Markets Inc||No compensation||Yes|
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.
The range of currency pairs including 37 currency pairs mainly for major and some minor pairs, plus 16 exotic pairs.
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 Account is on FBS website, you can register account step by step and login to FBS online area.
|Minimum Deposit||100 USD/EUR/GBP||10 USD/EUR/GBP|
|Order Volume||0.01 – 500 lots||Max 500 cent lots|
|Spreads From||1 pips||1 pips|
|Commissions||Zero Commissions||Zero Commissions|
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
|Forex||EUR/USD||0.1-0.9||1-1.5||1.6 or higher|
|Indices||US 500||0.1-0.4||0.5-1.4||1.5 or higher|
|Commodities||Gold||0.1-0.4||0.5-2||2.1 or higher|
|Stocks||Tesla||0.1-0.5||0.6-1||1.1 or higher|
|ETFs||US Russell 2000||0.1-0.4||0.5-1.4||1.5 or higher|
|Cryptocurrencies||Bitcoin||0.1-0.5%||0.6-0.9%||1% or higher|
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.
|Markets||Instruments||Standard account||Other brokers’ avg spread|
|ETFs||US Russell 2000||–||0.5-1.4|
FBS has low non-trading fees. There is no fee for deposit, or withdrawals, or inactivity fee.
The trading conditions at FBS are good. Almost all trading strategies are allowed including scalping and hedging.
|Change Leverage Allowed||Yes|
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 is available through MetaTrader platform to copy deals of other traders.
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 Method||Funding Time||Fee|
|Bank Wire Transfer||3-4 Working Days||0$|
|Credit / Debit Card||Instantly||0$|
|Rapid by Skrill||Instantly||0$|
Cent account requires only 10$ or equivalent at the start, and Standard account demands 100$.
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 Method||Withdrawal Time||Fee|
|Bank Wire Transfer||48 Hours||Free|
|Credit / Debit Card||15-20 minutes (max 2 days)||Free|
|Skrill, Neteller||15-20 minutes (max 2 days)||Free|
|Rapid by Skrill||15-20 minutes (max 2 days)||Free|
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 offers good variety of platforms including popular MetaTrader4 and MetaTrader5, also proprietary FBS Trader.
FBS MetaTrader4 is supporting multiple languages, and available across all devices Windows, Mac, and Mobile Apps for Android and IOs.
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.
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 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 – FBS Forex Intensive
- ‘Education’ on Website
Demo account is offered on free basis and available for all platforms and both account types Standard and Cent.
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
FBS live chat is the fast speed we connected almost instantly, Chat agents also available on the platform, mobile app and website
|Question Asked||We asked about trading costs.|
|Time of Reply||We were connected to customer support Live Chat almost instantly|
|Quality of Reply||The answer was good, also refereeing to relevant entity conditions and accounts|
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.