Is FBS Good?: The Review of FBS Pros and Cons [Summary of Overview Information from Real Trading Experiences]

Important Details of FBS Broker
Broker Name FBS
Website fbs.com
Year of Establishment 2009
Regulatory Organization IFSC and CySec
Minimum Deposit $1
Deposit and Withdrawal Speed Deposit: Immediate, Withdrawal: 3 Minutes interval
Deposit and Withdrawal Rate  -6.03%
Leverage Maximum 1:3000
Spread EURUSD 9, USDJPY 12, GBPUSD 18
Platform MT4, MT5, Web และ FBS Trader

FBS is ranked 8th in The Best Forex Broker Ranking 2022

FBS Information

Year of Establishment : 2009

Head Office

FBS’s Head Office is located in Russia

Address : Not disclosed (The team has tried to inquire with the staff many times, but they did not disclose the address details of the head office)

Trading Products

  • Forex:
  • Gold:
  • Petroleum:
  • Index:
  • Cryptocurrency: –
  • Stock:
  • Other Commodities: –
  • Bond: –

Broker Type

FBS sends orders to the market as a No Dealing Desk (NDD).

FBS Bonuses and Promotions

FBS is regarded as a broker with various promotions; such as:

Lucky t-shirt

  • Deposit $500
  • 2 Lots Trading

Level Up Bonus

  • Get free $70 on trading account for 20 days
  • Using FBS Trading App will increase the free bonus to $140

Deposit bonus

  • 100% of the deposit amount

Cashback

  • Cashback from FBS – get up to $15 per lot

Quick start bonus

  • Get free $100 with no deposit required
  • Trade within FBS Trader

FBS also has a number of trading contests, held annually.

Contact Details

    

Trading platform

  • MT4 : Windows, Android, iOS and Mac
  • MT5 : Windows, Android, iOS and Mac
  • Web
  • FBS Trader : Available only on mobile (Android and iOS)

FBS Review

fbs logo

FBS is regarded as a broker with various promotions, having good online marketing, and is often visible on advertising media.

This broker frequently has bad news about cheating, creating an unreliability for trading.

And more importantly, FBS does not have a policy to protect every customer’s fund in the event of the company closing down.

FBS Advantages

A lot of promotions

Lucky t-shirt

  • Deposit $500
  • 2 Lots Trading

Level Up Bonus

  • Get free $70 on trading account for 20 days
  • Using FBS Trading App will increase the free bonus to $140

Deposit bonus

  • 100% of the deposit amount

Cashback

  • Cashback from FBS – get up to $15 per lot

Quick start bonus

  • Get free $100 with no deposit required
  • Trade within FBS Trader

In which, FBS also has a number of trading contests, held annually.

Having Swap Free Account

Able to open a Swap-Free account by simply going to the Account Details page.

Smooth Trading

Trading server is quite stable, fast trading, and open-close orders without delay

Some lags in the evening

No requotes

The FBS does not have a re-quote.

Leverage up to 1: 3000

Micro, Standard and Zero accounts with leverage can be adjusted up to 1: 3000.

(FBS account type insights: Click)

FBS disadvantages

Live chat does not answer clearly

The support staff were unable to answer clearly, and only able to answer simple questions. In case of in-depth questions, they are not able to answer.

Spread fee is high

Especially for Micro accounts the spread is quite wide, this is highly not recommended.

No customer capital protection policy

FBS does not have a customer capital protection policy. (There is no notice on the website page and the staff did not provide an answer on this matter.)

Is FBS service fee high or low ? (SPREAD, COMMISSION, SWAP)

FBS’s account with the lowest average spread fee combined with commission fee is ECN, which is approximately 17 pips in total.

Not recommending either a Micro account which has a very high spread fee nor Zero account which has a very high commission fee.

Examples of spreads of FBS – Standard, Micro, Zero Spread and ECN

Average Spread over 7 major currency pairs of FBS (Commission fee inclusive)

fbs avg spread

Swap Fee over major currency pairs of FBS

fbs swap

Commission Fee of each type of FBS account

  • Standard: No Commission Fee
  • Micro: No Commission Fee
  • Zero Spread: $20/lot
  • ECN: $6/lot

Is FBS reliable and reputable ?

FBS refused to disclose its headquarters location. (Saying only in Russia) and holding only 1 unreliable license (IFSC), it’s no surprise that it is a very low-trusted broker.

In addition, there was quite a lot of news about cheating customers, making FBS ranked last in terms of reliability.

Year of Establishment : 2009

License Certificate (Regulator)

1. IFSC (The International Financial Services Commission)

  • License Certificate No: IFSC/60/230/TS/19
  • FBS Markets Inc.
  • Provides global services
  • The service is not provided in the following countries: Japan, USA, Canada, UK, Myanmar, Brazil, Malaysia, Israel and the Islamic Republic of Iran
  • Click to view the License Certificate

2. CySec (Cyprus Securities and Exchange Commission)

cysec fbs

Head Office

FBS’s Head Office is located in Russia

Address: Not disclosed (The team has tried to inquire with the staff many times, but they did not disclose the address details of the head office)

Employee Number : 501-1000 persons

(A total of 6 employees are active on LinkedIn)

The number of actual employees on LinkedIn is only 6 persons, which is totally unreasonable.

fbs linkedin

Customer capital protection

FBS does not have a customer capital protection policy. (There is no notice on the website page and the staff does not provide an answer on this matter)

To what extent is FBS popular with traders around the world ?

FBS has the highest number of Likes on Facebook, with 1.1 million people liked the page.

One downside is the lack of Google review (no location information).

FBS Reputation

35% : Forex Peace Army [Score : 2.718 | 309 Reviews]
65%
25% : Trustpilot [Score : 4.2 | 152 Reviews]
59%
25% : myfxbook [Score : 3.5 | Total Votes : 195]
53%
2.5% : -
1%
2.5% : Facebook [1.1M like this]
100%
2.5% : Intragram [98.1K Followers]
100%
2.5% : Twitter [14.8K Follows]
53%
2.5% : Youtube [22.9K subscribers]
53%
2.5% : Linkedin [2,429 followers]
35%

FBS Services

FBS offers various contact channels, but the service performance of the staff is considerably not very good and responds like a robot when answering questions.

Website pages are difficult to use, for example, logging into the Live chat page is difficult. (Recently updated) and the layout of the account management page is difficult to use, hard to navigate, etc.

The support staff answered questions rarely clearly, answered in a shallow manner.

Not operating 24 hours as advertised.

In some cases, support staff does not respond to the questions specifically, mostly recommending customers to contact and report problems via Email.

FBS offers various contact channels, such as; Live chat, WeChat, Telegram, Facebook Messenger, Line and WhatsApp.

FBS’s website has been translated into over 18 languages.

Contact channel

FBS Trading Experiences

We hardly recommend opening an account with FBS as there are many points that are inferior to other brokers, such as the very wide spread of micro account, the lags during the volatile market period, many orders are relatively delayed, etc.

Comments from our team

  • Pending orders placed 1 pip away from the price, making it easy to place orders.
  • Relatively fast in the morning at around 7-9 a.m., then constantly declining in speed until 7 p.m.
  • In the evening, the closing of the order is quite slow, 2 seconds delayed.
  • Close orders using mobile phones are much delayed, around 5 seconds.
  • When trading, there are lags occurring at times.

FBS Conclusion

FBS is ranked the 9th in The Best Forex Broker Ranking 2022

References

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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