RECOMMENDED FOREX BROKERS
FBS’s responsive and reliable website will surely lure you in as it offers quick and easy links to its informative sub sections. But relying on aesthetics and accessibility alone is not enough to survive in the world of forex. Does FBS have what it takes?
Two companies are operating under the FBS brand name.
The FBS.eu, or Tradestone Limited is regulated by Cyprus Securities and Exchange Commission (CySEC) and is authorized to provide online trading services in all EU countries. As one of the world’s top regulatory bodies, CySEC has made a name of itself as a reliable protector of trader’s rights, as well as insuring brokers are operating within the laws that govern their operations. FBS is also a member of the Investors Compensation Fund allowing for client compensations of up to €20 000 if the broker cannot meet its obligations to the trader. This broker is limited to a maximum leverage of up to 1:30, as sanctioned by ESMA.
The FBS.com or FBS Markets Inc. is regulated by the International Financial Services Commission (IFCS) based in Belize. The IFSC strives to promote Belize as a safe heaven for international brokers, because it offers tight control over investment firms and protects the interest of traders. However, offshore regulatory bodies, like the IFCS, are not bound by the rules and governance of more renowned European institutes such as the FCA, CySEC or ESMA. That’s why the maximum leverage available to FBS.com clients is 1:3000.
FSB.com allows for the trade of Forex Pairs, Metals, Stock CFDs, and some crypto currencies, while FBS.eu comes equipped with a very limited choice of trading assets: Forex and Metals.
FSB proves its stature as a global broker by giving us a galore of supported languages: German, English, French, Italian, Spanish, Portuguese, Arabic, Indonesian, Malaysian, Bengali, Chinese, Japanese, Korean, Lao, Thai, Turkish, Urdu and Vietnamese.
FBS.com offers 3 platforms in total. It’s unsurprising that MT4 and MT5 are here, but the brokers very own mobile-only FBS Trader is a welcome addition.
FBS.eu clients have access only to MT4.
МТ4 is a must. Traders cannot ever go wrong with this platform, as 80% of the entire online trade market revolves around it. And for many reasons. Its Expert Advisors will allow for automatic trading, leaving you free to do as you please while your account is being traded with. Expect features that will grant you better access and more freedom: real-time charts, advanced charting tools, over 50 customizable trading indicators and much more. VPS is also available.
The spreads begin from 0.0 pips to 3 pips; all depend on the account type the client picks. For the Standard account the spread starts from 0.5 pips with no commission whatsoever. The EU and UK are under ESMA directive, and are limited to a leverage of no more than 1:30. Outside this jurisdiction the leverage can reach a staggering 1:3000.
The platform can be accessed on Windows, Android and Apple devices, including mobile and tablet. An MT4 browser version is also accessible (no EAs).
MT5 strives to replace MT4 but fails to do so, not because it’s inferior but because most brokers nowadays use MT4 as the default terminal. Nevertheless, MT5 comes with new and handy features that traders will surely find useful. There are auto trading bots, plus VPS.
The spreads begin from 0.0 pips to 3 pips; all depend on the account type the client picks. For the Standard account the spread starts from 0.5 pips with no commission what so ever. As decreed by ESMA the UK and EU leverage cannot surpass 1:30. Outside these zones it can reach 1:3000.
MT5 is available on all desktop, mobile and tablet devices that support the common operating systems- Windows, iOS and Android. A browser version is also there, in addition to the desktop one.
Note that FBS Trader is currently available solely to fbs.com clients.
This mobile-exclusive Metatrader substitute is much easier to use, and features all the necessary tools for competent trading. However, as easy as it is, MT4 still offers much more.
Spreads and leverages don’t vary from the ones on MT4/5. Your choice of account has a direct impact on them. This goes for the commission as well.
The expected spread lingers on 1.1 pips, while the leverage can reach 1:3000.
Traders can get access to it on any iOS device, with the Android version, as of writing this review, is still in development.
FBS MINIMUM DEPOSIT
The minimum deposit for a Cent account with FBS.com is just $1.
The minimum deposit for a trading account with FBS.eu is $100.
Fund your account using with FBS.com with one of the following funding methods: Bank Transfer, VISA, MasterCard, Neteller, Sticpay, Skrill, Perfect Money or bitwallet.
FBS.eu accepts deposits with VISA, MasterCard, Wire Transfer, Skrill and Neteller.
Only Wire Transfer can take up to 4 days to process, while all other methods are instant.
Sticpay method user will be commissioned a 2.5% fee on each deposit, while Perfect Money may be taxed from the payment system itself. The rest are toll-free.
FBS.com supports trading accounts in EUR, USD, JPY. Clients of FBS.eu are limited to EUR and USD accounts.
FSB WITHDRAWAL TIME AND FEES
Those trading under FBS.eu, as licensed by CySEC, are assured that their withdrawals will be as safe and secure as possible.
FBS.com clients can cash out using VISA, MasterCard, Neteller, Sticpay, Skrill, Perfect Money or bitwallet. FBS.eu cash out options are limited to VISA, MasterCard, Wire Transfer, Skrill and Neteller
Bitwallet processes are instant, while all other methods are processed between 1-2 days. Once the money is processed by the broker, it may take some time before it reaches your personal account. Wire transfer time is between 3-7 working days and there may be fees depending on the client’s bank.
No method is spared by fees. With VISA it’s $1, Neteller gets 2%, Sticpay is 2.5%, Skrill charges 1%, Perfect Money obtains 0.5%. Bitwallet users may also get charged but it is not specified by how much.
FBS.eu just like all other forex brokers based in EU doesn’t offer any bonuses because of ESMA regulations.
FBS.com however offers a number of bonuses to its potential clients:
– Once in a while users are picked at random for a brand new luxury car.
– You can get $100 as bonus to start trading with your account of choice (demo excluded).
– Clients can double their initial deposits by activating the 100% Deposit Bonus.
– Cashback offers you $15 per traded standard lot.
– Increase your intake by up to $3000 each month by activating the Partner account.
– Earn Loyalty Points by trading, and exchange them for prizes and more.
FBS’s limitation are evident. It’s simplicity makes it a destination for newer traders that have no intention of diving deep, or are just starting in the world of online trading. The fact of its $100 minimum deposit, limited assets and withdrawal methods put put it somewhere in the average ranking, when compared to FSB.com. Yet it rises above its counterpart by being regulated by one of the world’s best organization for the job.
FBS.com quite literally explodes with info the first time you get acquainted with it. There is so much to see and do, that at times confusion settles in to replace curiosity. Yet we cannot ignore the outright features galore. It stands out in nearly all aspects expect for one; probably the most important one,the regulatory institution.