Based in Belize, FBS is an international acclaimed online forex broker that was founded in 2009. They currently serve more than 2,000,000 traders in more than a hundred different countries. Within a span of 3 years after FBS was established, the broker was recognized as the “Best Forex Broker Asia” and “Fastest Growing Broker Asia”. They also achieved recognition as having the “Best platform MetaTrader 4”. As a Belize based broker, FBS is not regulated by any government regulatory agencies in particular. Instead, FBS has opted to be regulated under the industry self regulating body called “Centre for Regulation in OTC Financial Instruments and Technologies” (CRFIN).
Trading Platforms
For trading access, FBS has provided their traders with the widely used MetaTrader 4 (MT4) trading platform. In fact, the MT4 platform is the most popular trading platform within the online forex trading community. No doubt, the features and capability of the MT4 trading platform plays a huge role with its popularity among traders. For example, the MT4 comes with a comprehensive charting package as well as a wide range of technical indicators. It also support automated trading through the use of Expert Advisors (EAs). In addition, the platform is available as a web based platform as well as a mobile platform hence giving traders the freedom to trade from anywhere they want.
Account Types
In order to cater to the trading needs of their international clientele, FBS has made available 5 different types of trading platform. These include the:
- Cents Trading Account
- Minimum deposit $1
- Leverage up to 1:1000
- 100 Maximum open positions
- Floating Spreads
- Micro Trading Account
- Minimum deposit $5
- Leverage up to 1:3000
- 200 Maximum open positions
- Fixed Spreads
- Standard Trading Account
- Minimum deposit $100
- Leverage up to 1:3000
- 200 Maximum open positions
- Floating Spreads
- Zero Spread Trading Account
- Minimum deposit $500
- Leverage up to 1:3000
- 200 Maximum open positions
- Fixed Spreads
- Unlimited Trading Account
- Minimum deposit $500
- Leverage up to 1:500
- No trading limits
- Floating Spreads
Commission & Spreads
With regards to FBS’s spreads and commission rates, the broker offers their traders extremely attractive and competitive rates. As for the spreads at FBS, you can choose between fixed or floating spreads. The fixed spreads starts from as low as zero pips while floating spreads starts from a minimum of 0.2 pips.
Customer Support
The customer support service at FBS is one of the most comprehensive that is ever offered by any online forex broker. Traders can request for assistance from the support team 24/5 through email, live chat or the call back service provided. In addition, the support services are provided in a dozen major Asian languages as well as 4 major European languages.
Pros
- Attractive Bonuses
- Choices of trading account types
- Extremely low minimum deposit requirement
- Free deposit insurance
- High trading leverage of up to 1:3000
- Ultra low spreads
Cons
- Lack of Trading Education
- Localized support limited to email support
- Trading Instruments limited to Forex and 2 metals
- Trading Platform limited to MT4 platform
Unregulated broker
Conclusion
Although FBS is a very new forex broker by the current industry standard, they have managed to prove themselves to be a top notch broker. They have made it extremely easy and affordable to start trading forex with their flexible account opening requirements. In addition, they also offer ultra tight spreads for traders who are looking for a price competitive broker. But what is most impressive about FBS is the extent of the localized support coverage. Despite the fact that they have only being in operation for less than a decade, they have managed to open up localized support centers in more than half a dozen different countries. If you have just started trading forex and is interested to find a broker that can meet all your trading needs, we suggest that you give FBS a try.
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