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FBS Review 2023: Is FBS Broker Legit or Scam?
fbs broker review

Although the company doesn’t charge commissions on many of its accounts, the floating spreads are larger than many competitors. You can get a zero-spread account, but the corresponding commissions are high. FBS also has negative balance protection, which is probably a good thing given the huge amount of leverage available. The stop-out level on all accounts is 20% margin, which means if your account drops below that level, all your trades will be automatically closed. Even with the massive leverage, FBS will not allow you to lose more than you deposit.

These accounts typically require a higher initial deposit as more advanced or professional accounts need higher capital since most trade part-time or for a living. The FBS platform offers trading of popular coins such as BTC, ETH, LTC, and XRP in differing currencies. As seen in the FBS broker review, these cryptocurrencies and other equities are accessible even in the mobile app.

Lower fees, lower costs?

Financial Sector Conduct Authority, simply known as FSCA, is the main regulatory body of South Africa. This license gives FBS access to numerous African countries and guarantees the safety and security of traders from the region. This license has helped the company to become a true leader in the global Forex trading market. Apart from this, another FBS broker regulation is from South Africa. The financial products offered by the promoted companies carry a high level of risk and can result in the loss of all your funds.

  • On the research side of things, there is daily market analysis, Forex TV, Forex news and a number of tools, such as calculators and converters.
  • FBS Markets shows the conditions very transparently in the dashboard so you can decide if you take the bonus or not.
  • The software is available for both iOS and Android smartphones, and it can be downloaded from their respective app stores.
  • You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources.
  • Expert Advisors, for example, are one of the most popular tools used by traders.

The order volume of trading is the same for different types of real accounts. There is no trading limit for the ECN Account users, unlike for the other account types that use STP. It seems from the FBS review that the users only have to make higher minimum deposits to upgrade the account tier and gain access to more competitive trading requirements. The non-dealing broker system of FBS and the FBS copy trade apps enable the rapid market execution of trading orders.

Islamic Account

In addition, demo accounts also facilitate beginners and news comers to the broker to better understand the mechanics of trading in real-time with virtual money. Moreover, copy trading helps investors to invest in professional traders’ portfolios. On top of that, FBS offers multiple payment options to facilitate transaction processing worldwide.

fbs broker review

It is packed with trading tools and you can get a lot more from the MQL marketplace which is conveniently accessible from directly within the platform. In addition, the broker provides useful trading tools such as trading calculators and copy trading. FBS exclusively uses MetaQuote’s suite of platforms, including MT4 and MT5, but only MT4 is available for web trading from the EU site.

Cent Account Review

FBS is a broker that has been operational since 2009, having won countless awards since its inception. It offers multiple tradeable instruments and is one of the most popular online trading providers out there today. It serves over 13 million customers from over 190 nations across the globe. Its UK operations are covered under its license with the Cyprus Securities and Exchange Commission (CySEC). FBS trader is a proprietary trading platform made available by the broker.

  • FBS Global are currently operating the ‘Level Up’ bonus, where clients receive $70.
  • You can open multiple accounts from the Personal Area on the FBS site.
  • You can, therefore, adjust your account to the deposit capital and the trading style.

Withdrawal requests for credit cards are handled the same business day, bank wires within 48 hours and Skrill or Neteller requests between minutes with a maximum of 48 hours. FBS extends its limitation to just the MT4 Trading Platform for Windows, Apple macOS, Android, Apple iOS and FBS WebTrader. Many Forex brokers don’t even pay for the full license and can obtain their trading platform under a White Label partnership through another Forex broker at a fraction of the cost. The lack of more currency pairs as well as metals is unfortunate, FBS also lacks CFD’s on equity and indexes as well as cryptocurrencies. While it provides the basics for a Forex trading account, true diversification cannot be achieved which makes it unsuitable for traders who seek cross-asset trading opportunities. Since there are two account types, you will have an option either to trade with a Standard spread Account starting from 1 pip, or while trading with Cent account be offered with tight spread.

Broker Details

Hereby, FBS offers you MetaTrader 4 (Limited with 45 days of inactivity). But, is FBS a regulated broker in other parts of the world as well? Not only is this broker regulated in the world, but it has licenses from some of the best-known regulatory agencies globally. For example, the S&P500 includes 500 of the strongest companies in the United States of America. These indices are very liquid, and sometimes they are highly volatile. In the following review, we will give you all facts about the broker you need to know.

Credit card deposits through Visa and MasterCard are both also accepted, although MasterCard is not available outside the EU. This is usually instant, though your first deposit may take a little longer. FBS does a great job in supporting scalping and is a very popular choice in this regard. This comes thanks to a very fast execution speed with orders executed within 0.4 seconds.

However, dedicated third-party research tools such as Autochartist and Trading Central are not offered by FBS. If you want access to some free premium tools for automated market analysis then are worth consideration. FBS offers hundreds of trading instruments from various asset classes such as forex, commodities, stocks, indices, and cryptocurrencies.

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This FBS account type is often used in trading to avoid the need to do mental math. The forex FBS broker will automatically convert quotes, orders, and positions held into the corresponding currency on this type of account. This way, traders don't have to manually convert all their information as they work or conduct trades. The currency conversion is handled automatically when the forex cent account is set up.

FBS - My Life In Ruins

FBS allows the traders of the Standard and Cent Accounts to conduct demo trading in a wide variety of assets. The trade demo account is especially good for developing trading strategies and styles before venturing into the live markets. Are you a small-town trader or a professional with big dreams? Do you wish to make it big in the industry of online trading and investment objectives? If yes, then it is now time to gear up for the best online trading experience ever.

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