FBS accounts comparison and the guidelines of account opening selection

Delve into FBS accounts

Account Types

CENT ACCOUNT

Description

  • Minimum deposit: $1 
  • No Commission
  • Maximum leverage: 1:1000
  • Maximum number of open positions: 200
  • Cent account is the account that demonstrates currency in Cent. If you deposit $10, it will show $1,000 Cents.  

Disadvantages

  • Spread is extremely high.
  • Slowly opens and closes order.
  • Swap:80 % Most swap of currency pairs are negative.
  • Deposit and withdrawal rates are high.

Not recommended

Micro account

Description

  • Minimum deposit: $5
  • No Commission
  • Maximum leverage: 1:3000
  • Maximum number of open positions: 200
  • Spread  is stable. 
  • Swap-Free is available by clicking on account description.  

Advantages

  • Sometimes it’s faster than Standard account when opening and closing orders (but it is still slow). 

Disadvantages

  • The Spread is much higher than XM micro (stable Spread is 3 pips), 30-40 is extremely high. 
  • Slowly opens and closes order (especially when closing orders). 
  • Slowly opens order and there is delay throughout the day from 6 a.m. to 8.22 p.m. 
  • Opening and closing orders are delayed for about 3-4 seconds. If there are 2 orders, it will be more delayed. 
  • Swap: 80 %. Most swap of currency pairs are negative.

Highly not recommended (The most expensive trading cost)

Standard account

Description

  • Minimum deposit $100
  • No Commission
  • Maximum leverage:1:3000
  • Maximum number of open positions: 200
  • Floating Spread
  • Swap-Free can be enabled by clicking on account description. 

Disadvantages

  • Vastly wide Spread 
  • Opening order is delayed for about 2 seconds.
  • Closing order is delayed for about 4 seconds which can make you miss an opportunity to make a profit in short term
  • It’s fast from 7 a.m. to 9 a.m. and gradually slows down until 7 p.m. 
  • Swap:80 % Most swap of currency pairs are negative.

Not recommended

Zero account 

Description

  • Minimum deposit:  $500
  • Commission: start from $20/Lot
  • Maximum leverage: 1:3000
  • Maximum number of open positions: 200
  • Spread is stable.
  • Swap-Free can be enabled by clicking on account description. 
  • Spread is equal to 0, except gold: 1200. 
  • Commission is calculated when closing an order. 

Disadvantages

  • Commission is high: 20 USD/Lot (normal rate: 7 USD/lot)
  • Swap:80 %  Most swap of currency pairs are negative.
  • Commission of each currency pair is not the same (starts from 20 and up to 160 USD/lot).  

Not recommended 

ECN account 

Description 

  • Minimum deposit: $1,000
  • Commission: starts from $6/Lot
  • Maximum leverage: 1:500
  • Maximum number of open positions: Unlimited
  • Floating Spread
  • Spread is equal to 0, except gold: 1200. 

Advantage

  • Spread is low for only 2 currency pairs which are EURUSD and USDJPY.

Disadvantages

  • There are a few currency pairs and no gold for trading.  
  • ECN account provides 25 currency pairs. 
  • It can opens and closes order immediately in the morning, yet it is gradually delayed for about 1 second (literally, ECN should not be delayed)
  • Minimum order quantity: 0.1 lot (very high, not suitable for new traders) 

Not recommended

Summary of FBS

None of FBS accounts that should be opened for trading because of wide Spread and high commission. It’s better to trade with other brokers.

Reference

fbs.com

Writer : Yoda Yoshida

  • Position : Editor
  • Biography : Former waiter to professional traders
  • Experience : 20 years in the Forex industry
  • Goal : To select the best broker for traders.
  • Short greetings : Some things take time to grow.
  • Full biography of the writer, Click >

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