FBS Forex Broker Review 2020

 FBS Forex Broker Review 2020

FBS forex broker was founded in 2009 and it has more than 15,000,000 traders over 190 countries. FBS has won many awards in Europe and Asia. Tradestone Ltd. FBS is a regulated broker as a CFD broker too by the Cyprus Securities and Exchange Commission (CySEC) under license number 331/17.

FBS offers four instruments available for trading such as Forex, Metals, CFD, and Stocks. You can trade financial instruments with competitive spreads and lowest commissions.

In this forex broker review, we will go through fees, account types, spreads, deposits, withdrawals, trading platforms, etc.

Account & Spreads

FBS international clients can choose from 5 trading accounts. European clients can trade only from 1 account type.

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Cent account

FBS users can trade on Cent accounts with a small deposit of $1 and floating spreads from 1 pip. Clients can trade with a maximum leverage of 1:1000 and with a maximum of 200 open and pending orders allowed. Cent users can trade the forex market with 35 currency pairs, 4 metals, 3 CFDs, and 33 stocks.

Micro account

Micro account users can start trading with a small deposit of $5 USD. The spreads on the micro account start from 3 pips and are fixed spreads. Micro users can trade with maximum leverage allowed up to 1:3000 and a maximum of 200 open and pending orders allowed. Micro users can trade the forex market with 35 currency pairs, 4 Metals, and 3 CFDs.

Standard account

For standard users, a minimum deposit of $100 is required to start trading, and floating spreads start from 0.5 pips. The maximum leverage allowed is 1:3000 and with a maximum of open and pending orders allowed up to 200. Standard users can trade the forex market with 35 pairs, 4 Metals, 3 CFDs, and 33 Stocks.

Zero spread account

Zero spread account requires a minimum deposit of $500 and clients can trade with fixed spreads from 0 pips. The maximum of leverage allowed is 1:3000 and a maximum of 200 open positions and pending orders is allowed. Zero Spread clients can trade the foreign exchange market with 35 currency pairs, 4 Metals, and 3 CFDs.

ECN account

For ECN accounts a minimum deposit of $1,000 is required with floating spread starting from -1 pip. Clients of FBS with ECN accounts can trade with a maximum of leverage allowed up to 1:500. A maximum of 200 open positions and pending orders are allowed and ECN users can trade only 25 currency pairs in the foreign exchange market.

Standard account (European Clients)

European users can trade only with the Standard account which an initial deposit of €100 for trading. Spreads start from 1 pip and the maximum leverage allowed is 1:30, but users can upgrade to professional leverage and trade of up to 1:500. The maximum of open orders and pending orders is 200 and European users can trade 31 Forex pairs, 4 Metals, 4 Indices, and 2 Energies.

Commissions

For international clients with account types of Centaccount, Micro account, Standard account, there’s no commission charged by FBS. Clients with Zero Spread account are charged $20 per lot. ECN account users can trade with a $6 commission. FBS applies the overnight fee for all users who hold positions overnight.

European clients with a Standard account can also enjoy trading with no commissions.

Instruments

The international users can trade major Forex currency pairs like EUR/USD, GBP/JPY, USD/AUD, and many others. Users can trade metals like Gold, Platinum, Palladium, and Silver. FBS clients can trade the major CFDs on the world such as global assets as DAX30, NASDAQ, Crude Oil, etc. The list of the available number of trading instruments is shown below:

  • 35 Forex currency pairs
  • 4 metals
  • 3 CFDs

The European users expect currency trading with pairs and metals, European users can also trade Indices and Energies instruments. The trading instruments available for European users only is shown below:

  • 31 Forex currency pairs
  • 4 metals
  • 4 Indices
  • 3 CFDs

Platforms of trading

FBS forex broker offers the most popular platforms of trading MetaTrader 4 and 5 for both International and European clients. FBS users can access the WebTrader platform to trade directly from the browser without any need to download MetaTrader 4 or 5.

MetaTrader 4

MetaTrader 4 is the most popular platform used by traders to trade many instruments of trading. The platform offers access to all FBS clients to advanced technical analysis. The user can use multiple tools built in the platform to study forex trading in-depth and use different tools as drawing tools, rectangles, labels, and more.

MetaTrader 4 supports the indicators by allowing the trader to access hundreds of indicators available. Different indicators on MT4 are built to offer more features and tools with indicators as the mini chart to display minimized charts of any symbols.

Some other indicators available on the MT4 platform by FBS forex broker, give the user a full experience in forex trading. We have listed some of the most popular indicators:

  • RSI
  • PIP Countdown
  • Orders Indicator
  • Autofibo
  • NewsCal

MetaTrader 5

MetaTrader 5 trading platform design allows the trader to enjoy a movement on trading with the new trading platform built with advanced features and tools. MetaTrader 5 is similar to MetaTrader, but the additional tools on the trading platform, offer the full functionality of the platform.

With MetaTrader 5, the user can trade hundreds of instruments offered by FBS. It’s easy to use with a clean user interface ideal for new beginners in trading.

The user can use the trading platform with trading robots, expert advisors, or indicators to offer advanced techniques on the MetaTrader 5 workspace. The trading platform allows the user to customize the charts with hundreds of colors, change the candlesticks, and more. We have listed below some of the most useful tools and features on the MetaTrader 5:

  • 21 timeframes of charts
  • VPS support
  • Education market
  • Up to 100 charts allowed
  • 80 technical indicators
  • Real-time quotes
  • Automated trading

Bonuses

$100 free bonus

International new clients can start trading with a $100 welcome bonus offered by FBS forex broker. New clients can use the 100 bonus on MetaTrader 5 to boost trading skills before start trading with real money. Existing clients and European clients cannot participate in the bonus program. To receive the $100 bonus by FBS, the trader should complete these conditions:

  • Register on fbs.com
  • Trade 5 lots during the period of 30 days
  • The maximum number of open orders allowed at the same time is 5
  • The maximum available sum for withdrawal is $100

100% deposit

FBS international existing and new clients can double their deposit with a 100% deposit bonus. The deposit bonus is unlimited, it doesn’t have a limitation of the maximum profit and the client is credited with deposit bonus immediately after they sign-up.

Deposit Methods

FBS clients can deposit a minimum of $1 and start trading on both platforms. Clients can deposit with multiple payment methods as credit and debit cards and digital payments. FBS also offers funding methods with the local exchange.

All the debit/credit cards, digital payments are instant and deposited directly to the client’s account. The full list of supported payment methods and fees are shown below:

  • Visa – No Deposit Fee
  • Neteller – No Deposit Fee
  • Stic Pay – 2,5% + $0.30 commission
  • Skrill – No Deposit Fee
  • PerfectMoney – Commission may apply
  • BitWallet – No Deposit Fee

Withdrawal Methods

For withdrawal payments, FBS charges a fee for some of the payments. And it may take days and hours for the transaction to be completed (depending on the payment method). The supported withdrawal methods and their fees are shown below:

  • Visa – $1 Withdrawal Fee
  • NETELLER – Withdrawal Fee 2%, min – 1$, max – 30$
  • GlobePay – Withdrawal Fee 1%
  • Stic Pay – Withdrawal Fee 2,5% + $0,3
  • Skrill – Withdrawal Fee 1% + 0.32$
  • PerfectMoney – Withdrawal Fee 0,50%
  • BitWallet – Withdrawal Fee may apply

Knowledge Content

FBS clients can learn and improve trading knowledge with educational resources provided for free by FBS forex broker. The educational content includes hundreds of resources written by FBS experienced traders. New traders on Forex and other instruments can enjoy the educational content by reading many technical analyses, articles, and more.

Users can check economical events and news daily on the market analytics page. FBS offers trader tools as forex calculators to calculate the risk, profit, pips range, and more. Educational content provided by FBS includes:

  • Economic Calendar
  • Currency Converter
  • Forex Calculators
  • Webinars
  • Guidebooks
  • Seminars
  • Video lessons
  • Market Analysis
  • Daily News

Customer Service

FBS forex broker offers support for all international and European clients through live chat, email, phone calls, and messenger. The average response from the agent via live-chat takes 25 seconds to 2-3 during the business days. The customer support on weekends can take longer when you use the live chat option.

The average email address response by the support takes 1-2 days. FAQ section assists clients with more details about the FBS company, funding methods, trading, bonuses, and more.

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