FBS Review – Is FBS a Reliable Broker?
FBS is a trusted broker that was founded in 2009 and is continuously regulated by numerous authorities which include CySEC (Cyprus Securities and Exchange Commission), and FSCA (Financial Sector Conduct Authority). FBS is a broker which has reasonable fees, free deposits and withdrawals, and a fast account making process to ensure a better experience for its clients.
When using FBS, you can choose between a demo account and a live account. A demo account helps you get familiar with all the features and practice trading strategies. Meanwhile, the three live accounts are, Standard account, Crypto account, and Cent account. The cent account is very suitable for beginners as there is less chance of risk and you don’t need as many requirements. However, you should keep in mind that the conditions may vary since this broker operates through EU entry and the international one.
International traders have a wider range of options like 6 types of accounts, cashback programs, very high leverage, and many more features. Creating an account is also a very simple process. All you have to do is enter details like your name, email, etc then enter the confirmation link you’ll receive there. Next, you choose your base currency, specify your experience, add proof of your details, and click submit. After that, it takes FBS just a few days to verify your account.
FBS has its fees built into spreads. An EUR USD spread in 0.9 pips, Crude Oil WTI spread is 4 pips, gold spread is 15, and BTC USD spread is 30. A standard account starts from 1 pip while the cent account offers very tight spreads. There are no deposit or withdrawal fees. There is an inactivity fee which is low when compared to that of other brokers like HotForex. If you hold a position for over a day and perform swing strategy, there is an overnight fee or swap which may differ depending on the instrument.
FBS has invested in advanced technology to make your use of instruments easier. It offers approximately 40 currency pairs and 6 indices based on CFD trading. The broker also offers metals and energies.
Methods of payment
FBS offers over 100 methods for payment, including some of the most popular and common ones as well. However, there is a chance this is only for international clients as the EU regulator applies a strict money transfer policy.
For depositing, FBS offers several payment options including e-wallets, crypto wallets, wire transfers, and Visa and Mastercard. For standard account users, the minimum deposit is $100 since it is an account designed for professional traders. The minimum deposit amount for cent account users is 10$, while the amount for crypto account users is $1, which allows them to deposit very small amounts.
At FBS, you can use either the MT4 platform or the latest one, MT5.you can easily open your account on the web, desktop, or mobile. Using the web is easy because you can simply log in without needing to install an app. However, when using the web to trade, customization options may be limited and there’s a chance you may not find all the tools you would if you installed the app.
The desktop platform is best for professional traders because of its wide variety of features. If you plan to use MT5 to trade on desktop, you are bound to have a great experience while trading because of its quality features and high capabilities.
Using trading apps on your phone is always convenient because you can stay updated with the market and trade even when you don’t have your laptop with you. Fortunately, FBS has received many awards and is known for their social platform.
FBS has also organized educational centers for its clients. The purpose of this is to train beginner traders and give them a detailed understanding of how online trading works. Good knowledge is important, which is why FBS is determined to provide its clients with practice material like the demo account. In the education center, you can gain access to webinars, tips, videos, and guidebooks.
Overall, FBS is a good broker which is very popular and is known for being a user-friendly platform. It offers tools that are suitable for use by traders of all positions which makes it accessible and beneficial to every status.