FBS Reviews – Is FBS safe or scam?
BSF Reviews, Is FBS a reliable broker? Discover positive reviews and negative real customers FBS: quality of service, reliability, regulation, trading platforms offered, withdrawals, accounts, support and attention to the customer, …
What is FBS?
FBS is one of the main international brokers in the Asian area in forex and CFDs. This broker with headquarters in Belize is registered by the CySEC of Cyprus and the IFSC of Belize.
It also has offices in China, Malaysia, Vietnam, Thailand and Indonesia, hence its strong presence in those countries, being one of the main brokers in that continent.
We will continue with the summary before giving the Reviews at the end of the review.
A very important point to keep in mind is that this broker has two completely separate divisions.
If you are a European client, the system will only let you visit, and therefore, open an account with FBS Cyprus.
If you are a non-European client, you can access the FBS Belize page and open an account with it, without the restrictions that exist in Europe.
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FBS customer service
Customer service is open 24 hours a day, 7 days a week by email and phone and also by web message under the Zendesk service.
Outside Europe the service is available in more than 18 languages, including most Asians.
Open FBS account
Opening an account with FBS is very simple as we will only have to enter our data in the web registration form and wait for the confirmation email to be sent to us.
When we confirm the email then we will have to proceed to verify our identity and residence. For this, it will be enough to send a copy of the identity document and some electricity, water, telephone or bank statement. Once this is accepted we can proceed to deposit money and start negotiating.
This is a broker specially designed for micro accounts since the minimum deposit that it accepts is 1 USD in the Cents account, 5 USD in the Micro account, 100 in the Standard, 500 in the Zero Spread and 500 in the unlimited one.
However, the above data is for the international broker.
For the CySEC affiliate, the minimum deposit is 100 euros, and there will only be one type of account (standard).
The deposits can be made for outside Europe:
- By transfer, card, WebMoney, Skrill, Neteller, OkPay, Cash, Western Union, MoneyGram, Anelix, Safecharge and Perfect Money.
- For the European subsidiary: transfer, card, Neteller, Skrill
The FBS platform is the famous MetaTrader 4, which can also be operated on mobile without problem, both on Android and iOS.
FBS bonuses and promotions
One of the fundamental characteristics of FBS is the large number of promotions and bonuses it offers, although this is an exclusive service of FBS Belize and does not apply to European clients.
These change over time, as it is a broker that maintains great dynamism in this field.
For example, we can find promotions of:
- Apple Gifts
- $ 123 deposit bonus
- Cashback possibility
FBS account types, markets and commissions
These accounts are for the Belize subsidiary:
|FBS Accounts||Cent||Micro||Standard||Zero Spread||Unlimited||ECN|
|Deposit||$ 1||$ 5||$ 100||$ 500||$ 500||$ 1,000|
|Minimum spread *||From 1 pip||From 3 pips||From 1 pip||From 0 pips||From 0.2 pips||From 0.2|
The typical spread of gold in Standard and Unlimited is 0.30 pips and 0.30 in Micro.
The Zero Spread account will have purchase and sale commissions.
In Europe there is only one type of account: the Standard
The leverage to European clients that affects Forex products and CFDs we have in the following table:
|Main Forex pairs||30: 1 or 3.33% margin|
|Main indices, gold and minor Forex pairs||20: 1 or 5% margin|
|Lower indices, commodities and exotic Forex pairs||10: 1 or 10% margin|
|Actions||5: 1 or 20% margin|
|Cryptocurrencies||2: 1 or 50% margin|
The leverage available to non-European traders (FBS Belize) will be:
- Cent account: 1000: 1
- Micro, Standard and Zero Spread Account: 3000: 1
- Unlimited Account and ECN: 500: 1
In addition, FBS offers futures CFD trading with commissions of $ 50 per contract.
This is an interesting broker that offers many services, bonuses, trading possibilities with different resources, and also good price and commission conditions.
To this day it is a broker that has an acceptable reputation and it may be a good alternative to try small forex accounts due to its low deposit requirements.
For example, we can see a lot of Reviews of all kinds on ForexPeaceArmy , but overall FBS is above average.
Some of the last important Reviews that we can find about the broker is in a Rankia thread from 2017, where some foreros discuss this broker.
As expected, there were people who did not like the fact that it was not regulated by the FCA or CNMV. Negative and positive Reviews also followed from this thread, as expected.
Some users say they had issues with executions, while others said things like the broker was too fast for withdrawals.
They also talk a lot about the deposit bonus at that time: the 123 bonus. This bonus is something that can no longer be enjoyed by customers, for example, who are required to open an account through FBS Cyprus.
The biggest “but” of this broker is that it is not regulated in Europe or other advanced First World countries.
In case of doing so, it would become a favorite broker in the European market, without a doubt.
This has not stopped him from having huge growth in Asia, where he is a major player. This can be seen in the huge number of payment methods, many of which are specific to the Asian market.
It is important to remember that we must take into account whether we are on the international or the European website, because depending on it we will have totally different information.
My FBS Review
The leverage of 3,000: 1 is one of the largest in the world of Forex, if not the most, if I remember correctly. In addition, they have increased it in recent years, because I think they had it at 2,000: 1 not long ago.
As we can see, the difference between this leverage and that in Europe is gigantic.
I do not know, I think it is an attractive broker for Latin American clients due to the issue of bonds and leverage.
For European traders it remains as a broker with good conditions in the major Forex accounts, but it is made less that it has more products. However, for those who only want Forex, this broker will suffice, since it bets on specialization.
I think they could improve the offer of the European broker, since I see it a little scarce.
One thing I do not like too much on the European website is that you cannot access the international one, or it is very difficult to do so, even if it is to see what conditions they have. Also, there is a big difference between the two offers, which I don’t know why.
Nor do they offer a reference to the international company on the website of the Cypriot subsidiary. I also don’t understand why this can’t be mentioned.
- Country: Belize
- Regulation: CySEC and CSFI
- Minimum deposit: 1 USD
- Deposit methods: transfer, card, Skrill, WebMoeny, Neteller and more
- Platforms: Metatrader 4.
- Markets: Forex, Metals and Futures CFDs
- Spread: From 0 pips EURUSD, 2 pips in Standard account
- Commissions: to apply in ECN account
- Broker Type: ECN / Market maker
- Scalping: yes
- Automatic trading: yes
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