FBS review

FBS has been gaining a lot of traction in the world of trading as of late. We’re going to dive in deep so you can make an informed decision. Whether you’re a pro or just starting out, choosing the right broker can make or break your trading journey. 

We’ll cover specific criteria, and discover how this trader stacks up. FBS Brokers, everything you need to know in this comprehensive guide.

TL;DR

• FBS brokerage is a regulated forex and CFD broker with the MetaTrader 4 platform and all its lucrative perks. 
• This brokerage offers competitive spreads, particularly on major currency pairs.
• It provides various account types with different minimum deposits to appeal to all traders, regardless of their budget and investment goals. 
• Users can access educational resources, though they might not be as comprehensive as the ones FBS’ competitors provide. 
• Some traders praise FBS, while others report issues using it. 

Criteria Breakdown

When money is at stake, you need consistent evaluation criteria to ensure you’re making the right investment decisions. 

With our experience in the market, we developed this list of the most critical factors you can use to analyze the performance and reputation of a brokerage and we will apply them throughout this detailed FBS review to give an honest and unbiased opinion. 

What is FBS Best Known For?

Description

Foreign Broker Service or FBS is a CFD and forex brokerage firm, founded in 2009. It currently operates in various markets and holds multiple awards in various financial categories thanks to its outstanding performance. 

FBS offers over 550 tradable assets, including forex, metals, indices, energy, stocks, forex exotics, and crypto. All these assets give users more flexibility to diversify their portfolios and access many markets. 

Several key features set FBS apart from any other brokerage on the market. The first is its user-friendly platform, which simplifies trading for beginner and experienced traders. It offers multiple features and resources to facilitate the trading process and make it as straightforward as possible, even for first-timers. 

Other advantages include offering the MetaTrader 4 platform, which provides users with technical analysis and automates trading. But that’s not all. FBS also offers many competitive spreads, specifically on major currency pairs, allowing you to maximize your trading efficiency and eventually profits. 

The previous points and many more are the reason FBS has a reputation as a reliable and trustworthy brokerage. In the following section, we dig deeper into its main features. 

Features

As a trader, you have lots of options when it comes to choosing your brokerage. Nevertheless, too many choices can be overwhelming, especially if you don’t understand the main features of the platform you’re choosing. 

Let’s agree that there’s no perfect platform. So, what sets FBS apart? What does it offer that its competitors don’t?

It’s User-Friendly

Let’s start with its user-friendliness. 

Many trading brokers claim that they offer a user-friendly experience, only to find yourself plagued by many details that make making a decision a nightmare. 

But it’s not the case with FBS. 

This broker actually understands that beginner traders need an accessible trading platform that allows them to enter into the trading world. The platform is straightforward and not complicated, so anyone can learn how to use it, even if this is their first time. 

It clearly sets the difference between different trading options, so you can make the right decision at the right time. 

FBS also puts seasoned traders’ needs at its heart. As someone who has been trading for years, FBS knows that you know how each second counts. You can execute your trading decisions in no time for more gains. 

MetaTrader4 and MetaTrader5 Are Supported

The second feature that you can enjoy as a trader is the MetaTrader 4. MT4 isn’t exclusive to FBS, but it’s part of the cool features you can enjoy with this reliable broker. 

So, how can it benefit you?

MT4 offers advanced charting options and other insights that allow you to make better and more informed investment decisions. You can access quotes in real-time with special analysis tools to maximize your profits. 

With MT4, you can see additional details about a currency pair and execute multiple orders simultaneously. 

MT4 is more suitable for beginner traders, but if you’re experienced, you can instantly switch to MT5 – the advanced option. 

MT5 offers more trading options for those who want to explore beyond forex trading. It’s an excellent tool for stock trading and order management, with various advanced options. 

And the best part is that you can switch back and forth while using FBS, with no issues whatsoever. 

It Allows EAs

FBS understands that various traders have different needs, so you can tweak and personalize your trading platforms with Expert Advisors, or EAs. 

This is an additional feature you can add to your free FBS. It grants access to more insights and specialized trading resources that can help you become a better trader. 

But because it’s optional, you can control your pace with FBS. The platform is free and doesn’t force you to make any purchase to access its full features. 

Market Analytics are Available

What is going on in the market?

As a trader, asking this question before spending a single dollar makes perfect sense. 

FBS understands how valuable information is, so it provides daily market analytics, updated in real-time to help you make informed decisions. 

Once you open an account, you’ll also gain access to VIP analytics, offering more specialized information. 

FBS Trader is Easy to Use

You don’t have to be glued to your laptop to execute your trading orders when you use an FBS broker. Thanks to its user-friendly mobile app, FBS Trader, you can access all the trading features on the go.

FBS Trader supports all the trading tools and provides important statistical reports, updated in real-time for the latest information. The application is compatible with every operating system, and you can download it to your smartphone, iPad, or tablet. 

You Can Open Different Types of Accounts

Unlike other brokers that offer two or three account types, FBS offers a vast range of trading account options. Some demo accounts are also available for training purposes. 

All these different options allow traders of all interests, budgets, experience levels, and trading goals to access the market at their convenience. Each FBS account is specifically tailored to meet the needs of certain traders and investors.

• Standard Account: The best choice for most traders, providing access to MT4 and MT5. It has a minimum deposit of $100 and you can leverage up to 1:3000.
• Cent Account: Beginners can choose this account type with a $1 minimum deposit to test their investment strategies and trade small amounts. You can leverage up to 1:1000.
• ECN Account: Professional traders can access up to 1:1500 leverage and a floating spread from -1 pip, creating the best conditions for large orders. However, it offers a smaller number of forex pairs for a $1000 minimum deposit.
• Pro Account: Access up to 1:2000 leverage with a minimum deposit of $200 for trading and executing large orders. The pro account provides a floating spread from 0.3 pips.
• Crypto Account: If trading volatile digital currencies is your goal, this account will work for you with a minimum deposit of $1. You can trade on MT5 or FBS Trader platforms with leverage up to 1:5.
• Zero Spread Account: Enjoy precise predictions with a fixed 0 pip spread and up to 1:3000 leverage. This account offers easier order calculations but a smaller number of trading assets and tools for a minimum of $500.
• Micro Account: For those who want to trade but aren’t fond of taking risks, the micro account will be an excellent choice with leverage up to 1:5. It has a fixed spread from 3 pips with a minimum deposit of $5.
• Ultra Account: You can enjoy leverage up to 1:500 on FSCA, with trading available on MT4 and MT5. The spreads on this account are available from 0 pips with a deposit of $50.

In addition to these accounts, FBS also offers an Islamic account, which doesn’t charge fees for overnight positions.

Multiple Promos and Bonuses

FBS encourages traders to experience the platform by offering multiple bonuses and promos.

Once you deposit $100, you become eligible for freebies and gifts that enhance your trading journey. The higher the deposit, the better promotions and bonuses you’re eligible for. Additionally, your chances increase when you become more active.

Pros

After listing all the features, it’s time to highlight the advantages of using FBS.

Regulated Broker

With FBS, you can enjoy trading peace of mind because the platform is strictly regulated by several reputable authorities. They include the International Financial Services Commission in Belize and the Financial Services Authority in Saint Vincent and the Grenadines.

The extra protection and security grants you peace of mind while investing your money.

Competitive Spreads

FBS offers a wide range of competitive spreads, mainly on major currency pairs.

So, what does this mean for you as a trader?

Such spreads reduce transaction costs, allowing traders to experience cost-efficient trading practices. In other words, they make trading more accessible to people on different budgets.

User-Friendly MT4 Platform

The availability of MT4 on FBS is a big plus, as it provides traders with the needed data to make informed trading decisions. It’s a great feature for beginner traders. with advanced charting tools and market analysis reports to facilitate the process of decision-making.

Since it’s more suitable for beginners, FBS also offers MT5, the more advanced version. This platform offers more features to cater to the needs of expert and professional traders.

Educational Resources

While using FBS, you can guarantee that your trading practices will improve. This broker offers comprehensive educational resources, including webinars, tutorials, and specialized trading guides to teach users about the best and most profitable trading practices in FBS markets. 

The best thing about FBS is that all these resources are regularly updated. You’ll always have access to the latest industry trends and news while using this platform.

Cons

Despite being a decent choice, there are some drawbacks you should consider before committing to FBS.

Limited Platform Options

Although FBS offers MT4 and MT5, it doesn’t provide other alternatives. This can be a big drawback to traders who want to enjoy more diverse trading options.

Other solutions like Vantage and eToro can push people to other brokers who offer these lucrative solutions.

Mixed Reviews on Customer Support

Unfortunately, some users weren’t 100% satisfied with the customer support experience while using FBS.

The quality of customer support is a significant factor while evaluating a broker because you want timely answers that provide the needed data. Some users reported that they enjoyed their experience and even praised the responsiveness of the FBS customer support team.

On the other hand, a significant number of users explained they weren’t satisfied with the service. Their complaints ranged from delayed responses to inconsistent replies that caused confusion.

Withdrawal Delays

Several traders reported experiencing withdrawal delays while working with FBS. Some waited for days before they could see their money reflected in their accounts, and others had to contact FBS several times to execute the withdrawal transaction.

Such a frustrating experience can deter people from using a broker and look for another alternative.

Criteria Evaluation

Now, it’s time to evaluate FBS according to the criteria we highlighted at the beginning of our detailed FBS broker review.

Regulation and Licensing: 4/5

It’s safe to say that FBS is one of the best-regulated brokers out there. With oversight from reputable authorities like the IFSC and FSA, traders can execute various trading operations confidently, knowing their investments are safe.

Trading Platforms: 4/5

Mt4 and MT5 represent excellent selling points for FBS, as they cover the needs of all traders – from first-timers to professionals. However, one point was deducted because FBS doesn’t include other platforms that appeal to aspiring traders and investors.

Account Types: 3/5

Although FBS offers various account types, other competitors offer more. With FBS, you have many minimum deposit and leverage options that suit your budget and investment goals. Nevertheless, other brokers offer even more versatile choices.

Spreads and Commissions: 4/5

The competitive spreads are one of the most appealing features of FBS. Although the transaction fees depend on your account type, those specifically interested in major currency pairs can enjoy competitive pricing, which makes trading more accessible.

Funding and Withdrawal Methods: 3/5

You can fund and withdraw your money using Visa, Neteller, Sticpay, Skrill, and Perfect Money, directly to your bank account or e-wallet.

Nevertheless, other brokers offer more options, making them more appealing to potential users. Moreover, some users reported withdrawal and funding issues and delays, which can be irritating.

Customer Support: 3/5

Customer support can be an area for improvement, as many users reported inconsistent quality. While some traders were happy about the responsiveness of the customer support employees, many expressed their frustration.

Educational Resources: 3/5

FBS offers several educational resources including video tutorials, webinars, and trading guides, other platforms offer more specialized educational resources.

Beginner and less experienced users can be left confused as these resources don’t answer all their questions, for example, if they want to learn about using AI in forex trading.

Reputation and Trader Feedback: 3/5

Due to the different criteria ratings, FBS has a mixed reputation in the market.

Some users praise its competitive spreads and various offerings, but others face issues with executing withdrawals and funding transactions.

Community Reviews and Expert Recommendations

So, what does the trading community say about FBS? What do experts think about this broker?

FBS is a decent choice for beginner and experienced users. On one hand, the competitive spreads of FBS and the availability of MT4 and MT5 represent a big plus that can make it more appealing than other options on the market. Users also praise the availability of different account types that cater to the needs of multiple traders and investors.

However, users and experts highlight customer support issues, withdrawal and funding delays, and the lack of comprehensive resources about forex risk management and other crucial issues. These drawbacks deter potential users and push them to consider other options.

Price

FBS is free and offers various account types with different minimum deposit options.

Users can pay as low as $1 to start trading on FBS, which represents an accessible point for beginner traders. The minimum deposit goes up to $1000, depending on the account type.

Where to Find

You can find FBS here.

Alternatives to FBS

We said earlier that FBS is not a perfect broker and might not work for every trader. At TopBrokers, we understand that traders have different preferences. So, we’ve prepared this list of available alternatives, and you can learn more about them here.

Exness

Enjoy instant withdrawals with low and stable spreads that allow for lower trading fees. However, there’s a limited number of trading instruments available on Exness.

IC Markets

When you choose IC Markets, you don’t have to pay much to open an account. Moreover, the low trading fees make the platform more accessible. Nevertheless, limited products are available and there’s no protection for non-EU users.

AxiTrader

If you’re solely interested in forex and CFD trading, AxiTrader will be a good choice. The trading fees are low compared to other brokers and there is no fee for deposits and withdrawals, but customer support is off twice a week.

AVATrade

AVATrade is regulated by several regulatory bodies to ensure the safety of users. It offers free deposit and withdrawal options but there are high CFD and inactivity fees.

Final Thoughts

We’ve come to the end of our comprehensive and detailed FBS broker review. After analyzing this trading platform, we’ve concluded that it offers a user-friendly interface with access to both MT4 and MT5 platforms. Moreover, FBS offers multiple account types to suit all users with differing budgets. Nevertheless, some users reported delays and issues while depositing funds or withdrawing money. Additionally, some users weren’t satisfied with the quality of customer support. Some traders were also disappointed by the lack of comprehensive educational resources about trend trading.

At TopBrokers.com, we stress the importance of thorough research and comparing brokers to what fits your needs. You can check our comprehensive reviews, ratings, and comparisons to find what works best for you.