Is FBS a Scam? Comprehensive FBS Review

Is FBS a Scam? Comprehensive FBS Review

The spread on the ECN account is ultra-competitive, hence FBS requires a commission of $6. Traditional traders might want to seek out the standard account at FBS. The Standard account offers mega-competitive spreads with zero commissions. The Cent account allows people to trade smaller lot sizes and open an account with a lower initial deposit than any other account.

• FBS offers live chat available 24/5, email support with responses within 24 hours, but no phone support.
• We are so pleased to hear that your trading experience is enjoyable on FBS’s platform.
• They employ advanced security measures to protect client data, including encryption and firewalls.
• The information and videos are not investment recommendations and serve to clarify the market mechanisms.
• However, traders looking for managed account options need to consider alternative brokers, and FBS’s services are not available to US traders due to regulatory constraints.
• With a focus on combating money laundering and terrorist financing, the FSC license helps safeguard traders’ interests.

Does FBS Have Research And Education Services?

This is usually instant, though your first deposit may take a little longer. As you would expect here, the FBS Islamic account is swap-free to be compliant with Shariah law, but the broker may charge a fee if you keep a position open for longer than 2 days. They have also collected awards as the best broker in Asia and Africa. This protection is further strengthened for those located in Europe. Here you can avail of the ICF insurance which covers your deposit up to 20.000€. FBS is regulated by FSC, ASIC and CySEC within the European Union, which makes FBS an ESMA compliant broker.

Even with the massive leverage, FBS will not allow you to lose more than you deposit. The MT4 web platform has a broad range of charting tools and 30 technical indicators to enable technical analysis. FBS offers five different accounts but only two are available to European clients, the standard account and the cent account. However, the education section at FBS is lacking in videos and webinars, which isn’t great for beginners. There are some real life seminars available at various locations and venues, all of which are advertised on the site.

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• One of the biggest advantages is that traders can start a contest to win money or other prizes.
• Articles within the Trader’s blog section cover topics like market basics, psychology, strategy, and risk management.
• The broad choice of trading accounts and numerous products mean this broker should be able to meet the needs of most beginner and advanced traders.
• Additionally, the broker does not impose a handling fee on deposits or withdrawals nor an inactivity fee on dormant accounts.
• The simplicity and efficiency of FBS’s trading platform have made my trading journey not just productive but also enjoyable.
• If you use the MT4 mobile app, you can set push notifications to your phone when a currency hits price action level.
• It is important to ask about regulation when it comes to brokers, so is FBS regulated?

MT5 offers a greater number of technical indicators, graphical objects, and analytical objects than MT4. It also has great additional features like an economic calendar and market depth (DOM). FBS provides the popular MetaTrader 4 and 5 platforms for desktop, web, and mobile users. These platforms cater to advanced traders and those employing automated strategies. Additionally, FBS has developed an innovative proprietary mobile app that is intuitive and serves as a valuable resource for beginners.

Is FBS good for beginners?

FBS helps its clients with video tutorials and coaching to understand how to trade successfully. In the following section, fbs broker review we will show you some facts about the platform. A number of payment methods are supported including Visa and Mastercard, Neteller, Skrill, WebMoney and a number of other local methods. Skrill and YuuPay are the only methods that incur additional charges and many payment methods are processed immediately.

How long does it take to deposit and withdrawal?

In addition, every trader gets personal support through an account manager who can help you by frequently asking questions. As mentioned before, the conditions are transparently communicated between the broker and the trader. For example, if you get a deposit bonus, you have to make a turnover of trading volume on FBS before you can withdraw the money. FBS introduced itself to the world of Forex trading in 2009, and now enjoys a presence in more than 120 countries with a customer base of more than 700,000 traders.

FBS allows traders to access MT4 and MT5 directly from their browsers through web applications, eliminating the need for additional software installations. FBS applies trading fees and spreads, specifically in the form of swaps. These fees, commonly known as overnight financing costs, are incurred when positions are held overnight.

They don’t trade many markets and have a very small product offering in each market compared to other brokers. Although the site claims to have 24/7 support, the “help” button is not staffed by a human or a bot. You submit a message and they get back to you; I did not receive a reply in the 48 hours my demo account was open.

Thank you for your detailed review, sure it will help a lot of traders. You have provided us with great information for beginners looking for a platform, seems like FBS offers it all. Yes, you can adjust your leverage at any time via the Personal Area on FBS, giving you flexibility in managing your trading strategy and risk.