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FBS India Review

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FBS was founded as an international broker that serve clients from over 190 countries since 2009 shows its excellence by numerous prestigious awards and cutting-edge technologies on the Forex Market. Lately, FBS became also a Cyprus Broker, expanding its service to a European population for both newbie and professional traders with useful tools and fully regulated trading service.

FBS website

Is FBS safe or a scam?

FBS is a brand name used by the Tradestone Limited, which is a Cyprus registered company, EU and MiFID regulated investment firm registered with CySEC. Additional entity of FBS is located in the Marshall Islands and Belize, which are offshore zones that do not really prove its reliable status on its own. Yet, together with regulation from European CySEC it makes FBS a broker which compliant to regulatory requirements and therefore offers reliable trading conditions.

FBS license

Therefore and because of its obtained license compliance to MiFID directive, there are strict rules towards money protection while FBS keeps traders funds in segregated accounts, making it unreachable for any other company use, as well as enhances capabilities y Negative Balance protection. In addition, being a Cyprus Investment Firm FBS falls under the Compensation Scheme, which protects the client’s investments in case of the broker’s insolvency issue.

Payment Methods

So in order to transfer into live trading you should obviously deposit money, while FBS offers a range of the most used and convenient payment options. This includes major cards Visa and MasterCard, e-wallets Neteller and Skrill along with Wire transfers.

  • FBS minimum deposit

As for the minimum deposit amount, FBS allows trading through Cent account only with 10$ at the very beginning, which is a fantastic option for beginning traders. Standard Account yet demands only 100$ initial deposit so experienced traders may find their way with relatively small amounts too.

FBS withdrawal

  • withdrawal fee

Also, what is more great FBS offers 0$ fee for both withdrawals and deposits. However, always make sure to check with your payment provider directly in case any fees are waived, also depending on your country of origin.

Who Is FBS Recommended For?

ANALYZING THE PRESTIGE OF FBS BROKER - Flow Activo

A plethora of account types helps to adapt FBS and its services to nearly any trader, but in general, those with no desire to invest an excessive amount from the outset are ideal candidates for FBS membership. Two account types require a minimum deposit of just $1 (Cent) and $5 (Micro), yet still provide high leverage and many of the privileges available to upper-tier accounts. While advanced traders may be more satisfied by the ECN or Standard accounts, which boost leverage and require a higher minimum deposit, beginners have more to gain with FBS.

Pros

  • High leverage up to 1:3000 (for non-EU customers only) suits higher-risk traders well
  • Superfast trade execution within 0.40 seconds for 95% of trades
  • Low spreads and commissions (from 0 pips) on most accounts
  • Free demo account for every account type helps clients test strategies
  • Exemplary, multilingual customer service is always available

Cons

  • Fees on both deposits and withdrawals (depends on payment type)
  • EU Customers have fewer account options than users in other regions

By creating a friendly, highly educational, and cost-effective trading environment that’s easy to access, FBS has established itself as a broker willing to invest in the success of its less experienced clients. Video tutorials, forex guidebooks and webinars, eBooks, and full seminars are free for members to enjoy. It should also be noted that FBS runs frequent promotions that help introduce traders to new markets and concepts and reward them for their participation (for non-EU customers only).

Regulation and Security

Tradestone LTD is an investment firm registered in Cyprus (Company Registration Number 353534) and is regulated by the Cyprus Securities and Exchange Commission (CySEC License Number 331/17). Cyprus is part of the European Union and offers a great mix of regulation and freedom to operate as a global financial firm. Prior to acquiring the CySEC license, the firm was offering its services from its Belize registered subsidiary and was well known for its aggressive market expansion. Since the acquisition of the license, traders can rest assured that their funds are safe and that the regulator ensures that FBS will comply with the directives of the legislative and regulatory framework.

FBS

Since Cyprus is a member of the EU, FBS is under the regulatory framework as set out in the Markets in Financial Instruments Directive (2004/39/EC) or MiFIID. It has been in effect since November of 2007 and aims to create and maintain a high degree of harmonized protection for investors in financial instruments. MiFID II came into effect in January of 2018 and was designed to further strengthen investor protection and increase transparency.

In June of 2015 the EU released its 4th Anti-Money Laundering Directive which represents the most stringent AML legislation across Europe. All EU member states have been complicit since June of 2017 and FBS adheres to the rules as outlined in the directive. In addition, FBS is a member of the Investor Compensation Fund (ICF) which ensures eligible retail clients will get reimbursed if their broker fails to comply due to financial difficulties as outlined in the fund.

Fees

FBS generates its revenue primarily from spreads which is the difference between bid and ask prices as well as swap rates charged on holding positions overnight. FBS doesn’t offer ECN accounts and therefore is not charging trading commissions. Spreads start as low as 1.0 pip and increase depending on the liquidity of the currency pair. The broker offers “Swap Free Islamic Accounts” accounts in order to offer their services to Muslim traders who are prohibited by their faith to accept or be charged interest.

FBS

Forex traders may activate this type of account while other traders can check the exact swap rates from inside their MT4 platform by following these steps:

1. Right-click on the desires symbol in the “Market Watch” window and select “Symbols”.

2. Select the desired currency and then click on “Properties” located on the right side.

3. Scroll down until you see “Swap Long” and “Swap Short”

In addition, Forex traders can use the FBS Trading Calculator to get full information on a trade before entering it.

Account Types

FBS extends its limitations to trading accounts where it offers two types, a Standard Account and a Cent Account. The main difference between both is the minimum deposit which starts at $/€10 for Cent Accounts and at $/€100. The minimum spread in both is a floating one which starts at 1.0 pip and the maximum leverage is 1:30. The Cent Account also comes with a maximum order volume of 5 standard lots (1 standard lot is equal to 100,000 units) where the Standard Account sees this limit increased to 500 standard lots. The maximum amount of open/pending positions is set at 200 with a starting execution speed of 0.3 seconds.

FBS

The Cent Account is basically an entry level account for new Forex traders to get started with micro deposits and best suitable to create and test new strategies, but fairly irrelevant as the Standard Account has a very small minimum deposit requirement. FBS doesn’t offer special trading conditions to traders with higher balances or more frequent trading activity, a feature which is another unfortunate miss for this Forex broker.

Web & Desktop Trading Platforms

The following trading platforms are provided by FBS Markets:

• The MT4 trading platform: This platform is the de facto trading platform among forex traders all over the world. It is equipped with all the necessary tools to suit all trading styles, strategies and systems. It also supports the use of Expert Advisors (EAs) to automate Forex trading. FBS provides the MT4 in all its forms. This includes the online web version, MT4 Multiterminal, downloadable desktop version for windows and MAC OS as well as the mobile versions.

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Features include:

  • With WebTrader trade directly via a browser
  • Compatibility with Windows, MacOS, Linux
  • Security enabled
  • All types of trading orders
  • One Click Trading
  • 30 indicators and 24 graphical objects for technical analysis
  • 9 time-frames, from one minute to one month
  • Real-time quotes
  • Trading history and log
  • Automated trading through Expert Advisors (build your own or upload)

The MT5 is the newer version designed to replace the MT4. It is even more powerful and sophisticated than the MT4. It supports all the features of the MT4 and even extends some of them. It has more indicators, timeframes and drawing tools for technical analysis. It also supports trade automation using forex robots. FBS provides the WebTrader version of the MT5, the downloadable desktop applications for MAC OS and windows PC and also the mobile versions.

Features include:

  • Tools for technical and fundamental analysis.
  • MetaTrader 5 can trade automatically by using trading robots and trading signals
  • An advanced Market Depth feature (with a tick chart and Time & Sales information)
  • The support of all types of trading orders and execution modes.
  • One Click Trading function and the Market Depth option
  • The Stop Loss and Take Profit options
  • 100 charts can be opened in the platform at the same time.
  • 21 time-frames, from one-minute to one-month.

Mobile App

FBS Trader: This is the proprietary mobile trading platform designed by FBS to give traders a simple but efficient way to trade on the go. It is optimized for speed and functionality. The FBS trader is designed for the Android and iOS and it is downloadable from their app stores. Here are some of its features:

  • Instant access to account management, including deposits and withdrawals.
  • Live quotes and real time charts.
  • Direct access to the support team on a 24/7 basis.
  • Access to trade multiple instruments in real time.
  • Access to detailed order information.

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The MT4/MT5 mobile apps: These are trading apps designed by MetaQuotes Software; a Russian company that designs forex trading softwares. The apps are simple yet sophisticated for complete analysis and monitoring the markets. Both the MT4 and the MT5 are separately designed for the iOS and android operation systems. The apps can be downloaded from their respective app stores.

Here are some of the features of the apps:

  • Simple interface, user-friendly and easy to use.
  • Real-time market quotes.
  • Order management functions including history, SL and TP.
  • Account management.
  • Technical analysis using charts, technical indicators and annotation tools.

 

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