FBS review is probably the article that gets the most attention. Because FBS is an exchange with a relatively large trading volume, among the reputable forex exchanges operating in the UK. Not only that, FBS also knows how to do communication. In addition to spending extremely heavily on advertising, FBS always focuses on developing products or offering policies and strategies to reach customers who are new traders.
And also thanks to constant advertising on many media, FBS has helped attract a large number of investors to trade here. In the article below, we will provide FBS review, like many other reputable forex exchanges that we have reviewed. If you are interested in FBS, please read the following article of Learn Forex Trading to see if FBS is worth your trading choice.
Overview of FBS platform
In fact, the best forex trading platform Each of our assessments has one of the criteria such as being a long-standing exchange, having been in operation for at least 10 years or more. And FBS is no exception, established in 2009, and now has 11 years of experience in the financial market. We FBS review as a forex exchange with seniority in the market.
One of the very wise moves of FBS is that in every country FBS has one website in each different country, different from the rest of the forex exchanges, usually through IP access to automatically switch to language mode only. Currently, FBS has more ownership19 website different. Maybe that’s why, the first time I accessed FBS, I created a feeling of friendly, close, and trustworthy for each customer, so many people have trusted and chosen FBS to become their trading platform.
Thanks to that, FBS has achieved truly remarkable successes such as better service14 to million customersfrom190 countries in the world. Have 7000 accounts created every day. Even FBS has a number of loyal customers to 80%, a truly huge number that any forex exchange would covet!
Basic information about the FBS platform
For FBS review to be reputable, we first need to know the basic information:
- Year of establishment: 2009
- Minimum deposit: 1 USD
- Maximum leverage: 1:3000
- A number of accounts provided: 5 account types including Cent account, Micro account, Standard account, Zero Spread account, and ECN account.
- Social network trading: Copy Trade
- Deposit method: Credit card, Neteller, Skrill, Perfect Money, Internet Banking
- FBS trading products provided: Forex currency; Metals, CFDs, Stocks
- FBS trading software supports: MT4, MT5 and FBS Trader
- Compatible OS: Windows and Mac Desktop Platforms, MT4 and MT5 Compatible Web Platforms, Android and iOS
License to operate the FBS platform
FBS is currently under management International Financial Services Commission (IFSC, registered under number 119717)andCySEC (according to quiz353534). To be fair, the license FBS owns is not as strong as many other forex exchanges like ICMarkets, XM good XTB ( XTB owns 12 licenses from various reputable financial management agencies such as CySEC, FCA, BaFin, CNMV, IFSC …)
However, with licensing fromCySECpartly seeing FBS’s efforts in improving services to bring the best quality to traders.
What does the license from CySEC mean for FBS as well as traders?
Compared to some competent authorities, CySECis relatively active in checking forex exchanges as well as notifying traders about suspicious activities from the exchange. It is worth noting that CySEC follows all the guidelines due to MiFID(the Market Financial Instruments Directive) introduced when Cyprus became a member of the EU in 2004. So in the event of a forex broker regulated by CySEC going bankrupt, all traders will be insured by the Compensation Fund investment of up to 20.000 €. With this license, you can completely feel secure when trading at FBS, all rumors about FBS trader scam are not true.
See more: Detailed instructions for FBS registration account
CySec standards
- Must have a separate account. This is a very important factor that not only proves that the exchange has good financial potential but also shows that the exchange will not abuse customers’ money for other things.
- Forex exchanges in general and FBS in particular, when under management from CySEC, are required to have a minimum capital of 750,000 EUR to maintain exchange operations.
- CySEC requires all forex exchanges to submit independently audited financial reports for this agency to review.
- Must be a member Investor Compensation Fund Program (ICFS)to protect investors if the exchange goes bankrupt and cannot fulfill contractual obligations with an insurance amount of up to 20,000 EUR.
- Must fully list the products and services provided to traders.
Types of accounts at FBS
FBS offers 5 main account types for clients including: Cent account, Micro account, Standard account, Zero Spread account, and ECN account.
Similar to many Forex Exness or ICMarkets, FBS provides accounts for both MT4 and MT5 software. In there, MT4 There will be 5 types of accounts, alsoMT5 There will only be 2 types of accounts: Cent and Standard. If you want to trade stocks and CFDs, you should choose to open Cent and Standard accounts under MT5.
Cent account
- Minimum deposit amount: $1
- Spread: floating from 1 pip
- Commission Fee: 0$
- Maximum leverage: 1:1000
This is an account type calculated in Cent units of the US dollar. Therefore, when you deposit 1 USD into your account, you will have 100 Cents, similarly, if you deposit 10 USD you will have 1,000 cents. And you will use this Cent amount to trade at FBS, instead of USD like other account types.
So what benefits does this bring to new traders?
Experience the feeling of trading in the real market, as well as help you survive longer in the forex market!
Because account transactions are calculated in Cents, you will not need to deposit too much money, only 10 USD is enough. And with the amount of 10 USD helps you access the real market, experience the emotions and trading markets like other accounts, improve your personal experience, and understand trading psychology. translation behind every order you place.
In addition, because it is a Cent account, the risk factor will be significantly reduced compared to a USD account. Thanks to that, even though you trade with only 10 USD, it still helps you feel as if you are trading a whole lot. So you will not feel that the amount of 10 USD is too small, thereby stimulating your trading ability and improving your experience even further.
Micro account
- Minimum deposit amount: $5
- Spread: fixed from 3 pips
- Commission:0$
- Maximum leverage:1:3000
As mentioned before, FBS seems to be doing very well in reaching new customers. So, at FBS there are 2 types of accounts for newbies, in addition to the Cent account, there is also a Micro account.
Unlike the Cent account, the Micro account requires a minimum capital of 5 USD or more, but in return, you will enjoy higher leverage equivalent to 1:3000. And most importantly, you will enjoy fixed spreads instead of floating spreads like other account types.
Fixed spread is spread type but even when the market is volatile or when the market is calm, it is the same. Therefore, at any time, traders can calculate the transaction cost for an executed order. However, it is also because the spread is almost“invariant” at all times, so, fixed spreadsThe exchange always quotes a price higher than the floating spread.
And as you can see, FBS is no exception, the spread for this account type is up to 3 pips. Therefore, please consider choosing the account type that best suits you.
Standard account Standard
- Minimum deposit amount: $100
- Spread: floating from 0.5 pips
- Commission Fee: 0$
- Maximum leverage: 1:3000
This is probably the account to go with the vast majority of traders when participating in trading at FBS. In addition to enjoying super high leverage up to1:3000, the minimum deposit amount is only 100 USD or more. Not only that, the spread is only from 0.5 pip, a quite attractive spread, along with 0 commission.
Additionally, this is also the account type available for the software MT5, provided by FBS. Therefore, if you want to trade stocks or CFDs, this is the account type for you.
Zero Spread Account
- Minimum deposit amount: $500
- Spread: floating from 0 pips
- Commission:20$/lot
- Maximum leverage: 1:3000
Although FBS has given incentives for account types Zero Spreadwith super low floating spreads from 0 pips, with high leverage up to 1:3000. But with commission fees up to20 USD/lot Combined with a fairly high minimum deposit of 500 USD or more, this is not the type of account chosen by many traders.
ECN account
- Minimum deposit amount: $1,000
- Spread: floating from -1 pip
- Commission Fee: 6$
- Maximum leverage: 1:500
- Products provided: 25 forex currency pairs
The last account type is also the type ECN account The only thing FBS provides is the account ECN(The above account types are all STP accounts).
The “tradition” of ECN accounts is to only charge commission fees, spreads are always super low, determined by the market. So as you can see, FBS charges a commission for this type of account of only 6 USD/lot, an extremely comfortable fee with a super low floating spread, not 0 pip like many exchanges but -1 pip, an extremely favorable period for traders who like scalping trading.
However, the biggest shortcoming of this type of account is that FBS only provides too few trading products 25 forex currency pairs. This means that if you want to trade precious metals, stocks, or CFDs, you must open other types of accounts. In addition, the minimum deposit amount of 1,000 USD or more is also a bit high compared to the average level of other ECN forex exchanges.
So, which account type should traders choose when trading at FBS?
If you are new, the Cent account is probably the most suitable account for you to practice trading. Because you trade with your own money and the market fluctuates in real time, it will be very different from trading with a demo account. Thanks to that, you will learn more if you open this trading account:
In addition, according to our assessment, the Standard account will be the second account type suitable for all traders trading at FBS. Of course, because FBS has many different account types, you can choose other account types that best suit you, without needing to consult with us above.
Trading software provided by FBS
FBS currently offers 3 main types of trading platforms including MT4 software, MT5 softwareandFBS trader softwaremain reasonFBSdevelop.
MT4 software
This is a popular default software that every forex exchange must have. Therefore, traders are almost all familiar with it and know how to use it.
In addition to supporting necessary tools and automatLearn Forex Trading integration, FBS also supports many different versions of MT4 like Trade on WEB, MT4 Multiterminalto desktop versions for operating systems Windows and MAC OS, as well as mobile versions for iOS or Android.
Basic features of MT4 provided by FBS:
- Transact directly on the Web
- All types of trading orders are just one click away
- 30 indicators for technical analysis
- 9 timeframes, from one minute to one month
- Real-time quotes
- Contains transaction history and logs
- Trade through Expert Advisors automated robots (you can build or upload your own)
MT5 software
MT5 is a newer version designed to replace MT4. For that reason, MT5 even strongly improves some of the shortcomings that MT4 has. In addition to supporting all the features contained in MT4, MT5 also integrates and expands many indicator tools. Multi-timeframe and technical analysis drawing tools. Similar to MT4, FBS’s MT5 also fully supports the WebTrader version. Desktop application for MAC OS. And operating system isWindows PC with 2 mobile operating systems iOSandAndroid.
Basic features of MT5 provided by FBS:
- Technical and fundamental analysis tools.
- Can trade automatically
- Market Depth feature (with tick charts and real-time information)
- Support of all types of trading orders and various execution modes.
- Up to 100 different charts can be opened at the same time.
- 21 timeframes, from one minute to one month.
FBS Trader
This is the software developed by FBSmonopoly, similar to xStation Provided by XTB. Therefore, in addition to trading with MT4 or MT5, you can use FBS Trader because they are simpler and easier to use.
Besides, FBS trader also provides much detailed information for you to easily follow such as the type of contract; Trading volume; Current buying/selling volume; and information about Profit and Stop Loss. The application is completely fine free of charge you can download it to experience it. Enjoy the professional services provided byFBSprovide.
FBS CopyTrade platform
Of course, FBS This social trading platform would be indispensable. Simply put, this is a form of copying orders from leading traders in the copying community FBS. Your job is to just find a reputable trader. Based on transaction history. Or the information FBS provided to evaluate that trader. After selecting, deposit money into your account, which trader’s order do you want to copy? Just click follow, when that trader trades, the order will also be copied to your account. Proportion the amount of money you have to avoid burning your account.
This form is suitable for new traders, those who are too busy or do not have much financial knowledge. With just 1 mouse click, choose the person you want to copy and you can create income for yourself while learning how to analyze orders from the trader you choose. It’s worth trying once!
Resources provided by FBS
Analytical “bets” provided by FBS
You may be surprised to hear us say that. But indeed, FBS is a rare forex exchange today that not only provides news. Also provides both technical analysis and fundamental analysis from FBS-affiliated experts.
It is also because of this point that we judge that FBS is the forex exchange that is most suitable for beginner traders Currently.
To see the trading plans offered by FBS. You choose“analysis and training” and find“daily market analysis” here. You will see there are two main types of analytics: technical analysis and fundamental analysis. Make forecasts on currency pairs and trading products. So this can be seen as a reference source to determine price trends. And trading plan for the currency pairs you want.
In addition to analytics, FBS also “plays big” by supporting additional formats of Video for traders to listen to analysis anytime they want.
In addition to the two types of resources mentioned above, FBS also provides free books for new traders. Just enter your email address and you will receive the book for free.
You see, F B S is indeed a forex exchange“care to the root” for new traders, right?
Trading products and leverage at FBS
Basic information about the product and leverage provided by FBS:
- Forex currency total 37 pairs including 9 rare currency pairs and 28 other forex currency pairs enjoy maximum leverage1:3000
- FBS provides four types of metals including gold and silver with a leverage of 1:333. Palladium and platinum are leveraged1:100
- CFD 5 codes with leverage1:100
- Share33 codes have leverage levels 1:10
Product details and leverage
To be honest, many FBS review have a rather poor number of trading products. Even cryptocurrency, a previous product, was once provided by FBS but has now been removed.
In addition, there is one more point that needs to be said regarding the leverage provided by FBS. The highest leverage FBS offers is 1:3000. However, according to regulations from FBS itself, to enjoy this level of leverage, your deposit must be less than 200 USD. If you deposit more than 200 USD and less than 2,000 USD, you will only enjoy a leverage of 1:2000. If the deposit amount is up to 4999 USD, you will enjoy a leverage of 1:1000.
Thus, the more money you deposit, the lower your leverage will be. In particular, to minimize the risk when customers leave orders overnight (don’t close orders on Friday, still keep them), FBS has a policy to reduce leverage. Or change the deposit to avoid risks for traders. You can refer to the image below to better understand the leverage of the product. As well as the leverage levels according to the deposit amount provided by FBS.
Commission and Spread fees at FBS
Spread fees
FBS season spread There are 2 forms: float and permanent. In general, depending on the type of account, there will be different spreads. Among the accounts with low spreads, the most impressive is the ECN account with spreads from -1 pip. The account type with the highest spread is the Micro account. Also, an account provided by F B S in the form of a fixed spread. Always stable in all market conditions, it is understandable that spreads will be higher than other accounts.
Commission
Only the ECN account and Zero Spread account FBS collect commission fees. The remaining accounts do not have this fee.
However, with a Zero account, the level of 20 USD/lot is too high. Meanwhile, ECN accounts are only 6 USD/lot, an extremely attractive level compared to many exchanges. Therefore, if you want to enjoy low spreads. With a commission fee of only 6 USD/lot, the ECN account is the right choice for you.
Deposit and withdraw money at FBS
FBS allows customers to deposit and withdraw money with many different options such as electronic payment gatewayNeteller, Perfect Money, and Skrill. As well as through domestic bank cards or Visa Cards. Currently, you can FBS deposit and withdraw through 8 major banks in the UK, which is also quite convenient for traders. Not to mention a number of electronic payment gateways that are loved by many traders. And use Neteller, Perfect Money, and Skrill.
FBSDepositing and withdrawing money is very quick and convenient. Compared to Exness, FBS is probably the second forex exchange that processes deposits and withdrawals as quickly as “rocket speed.”
FBS promotions
FBS is a hard-working forex exchange that spends the most bonus Currently. Many FBS Bonus programs are responded to by the UK trading community and have a high spreading power. Thanks to that, it is understandable that FBS attracts several new traders to join. The most popular FBS bonus programs today include:
Trade 100 Bonus
As the name suggests, with this type of Bonus, after registering you will receive 100 USD to trade in real time. And if the transaction is profitable, you can withdraw that profit (maximum 100 USD).
So what are the requirements to receive the FBS Trade 100 Bonus?
- Must trade on the MetaTrader 5 platform
- The trading order volume is 0.01 lot
- The maximum amount that can be withdrawn is 100 USD
- Trading active day is 30 days (trading active day is the day an order is opened or closed)
- The maximum number of open positions at the same time is 5 orders
- Minimum trading volume to receive the bonus: at least 5 lots traded during 30 days of operation.
The bonus requirements for this type of account have changed somewhat compared to previous times. However, according to the FBS review, the Bonus 100 trading form is only suitable for traders who are new to the profession and can participate in practice trading. Experience in real-time, or only for traders who are planning to change exchanges. Because to achieve a trading volume of 5 lots with an order volume of only 0.01 lots. The maximum number of open orders is 5 orders/transaction. Then you have to be patient to get the bonus from FBS.
100% deposit bonus
This is the mode where you double your deposit during the transaction.
Cashback
This is probably the most “easy to eat” form of Bonus provided by FBS. Simply put, it is a refund program for customers. So your job is just to deposit money to trade. Then each lot you trade will be returned by FBS up to a maximum of 15 USD depending on the currency pair you trade. You just need to log in to your area to activate this promotion.
Free overnight trading (Swap fee) at FBS
This is not a promotional program FBS provides. However, it is quite interesting so we mention it here for your convenience.
The swap fee is the fee you have to pay if you hold a position overnight. Every forex exchange has this type of fee, and depending on each currency pair, there will be different overnight fees.
The FBS review of overnight fees compared to many other forex exchanges is very favorable. But it doesn’t stop there, FBS also has an overnight free mechanism. This is useful when you trade rare metals like gold, for example. Or if you want to make a long-term trading plan, these fees will be reduced to 0 USD, which will also reduce costs. At the same time, it helps you earn more profits.
Currently, this program is not automatically free. So if you want, you must email the FBS support team at: support@fbs.comwith requirementFree Swap. At the same time, provide FBS with some specific information such as:
- Account number MT4you want to receive a free swap
- Full name / Email you have registered
- Two-sided ID cardorPassportyou used to verify your account
One point to note: This Swap free program doesn’t apply to Forex Exotic currency pairs, CFD, and account ECN.
See more: Instructions for FBS account opening on phone
Customer care service at FBS
FBS is probably one of the exchanges with reputable support for UK people the best. In addition to building a website dedicated to the UK market. FBS also has a friendly and enthusiastic UK support team. Therefore, you can feel completely secure when encountering any problems that occur in many different forms, phone, email, and live chat.
As mentioned at the beginning, FBS seems to be a forex exchange created for beginner traders. So the exchange has many strategies to support new traders. In addition to having a strategy for analyzing specific currency pairs. FBS also adds a mechanism call back for traders.
This means you only need to provide your phone number and the time you want FBS to call you. And what is the problem you need advice on? Immediately at the exact time frame you want, a support staff will call you to assist you with everything you need.
So in addition to chatting directly on the homepage. You can use this method to ask FBS staff for support.
Summary of evaluation of advantages and disadvantages of the FBS platform
Advantages of FBS platform
- Supports many flexible money transfer and withdrawal methods
- There are many types of accounts for customers to choose from, suitable for many different types of customers.
- Dedicated professional customer support
- Big leverage
- Fast deposit and withdrawal
- The account registration procedure is extremely simple
Disadvantages of the FBS platform
- No cryptocurrency
- Trading products are quite a few
- Some account types have quite high spreads
- Lack of certifications from reputable regulatory agencies in the European region such as FCA
Conclude
For new traders, usually don’t need too many requirements, just a good support platform. There is a UK support team. To support them anytime they need from simple to complex questions. FBS has done this very well. So it is not difficult to understand that FBS is chosen by a large number of UK traders, especially new traders.
Therefore, you can choose FBS if you are new to the profession. With dedicated guidance from IBs plus a lot of resources, FBS provides for traders. It is truly a useful tool to both improve your experience and help you manage risks when trading. Hopefully, the FBS review information above from Learn Forex Trading will help you have a more knowledgeable view.
Good luck!