FBS Forex: Your Complete Guide and Review

FBS Forex is a company that has run its operations for more than a decade. It was founded back in 2009 and has risen in the ranks to be among the most sought after brokers in the market. The website is owned and operated by FBS Markets Inc. it continues to improve its services meeting all the desires of its customers. This explains why it has 14884703 registered users who flood its website to place trades.

You can find this company in 190 countries worldwide which over 70000 accounts being active every single day placing trades. It's fully licensed and regulated to operate as a trading platform offering its users 46 different instruments to choose from. This gives you a chance to diversify your portfolio and spread the risk. Rely on the customer support available 24/7 ready to assist you in any way possible as you go about your trading activities. The website can be translated into 18 languages.

It has won many awards over the years the most recent being the 'Most Progressive Broker Europe 2019'. Other awards won are the 'Best Trading Account 2018', the 'Best Broker Asia 2018', and the 'Best International Broker 2017'. Enjoy the bonus when you make a deposit to your trading account. The broker gives a 100% bonus on the amount you deposit with the minimum accepted being $1. This broker is the official trading partner of FC Barcelona.

Is FBS Forex a Reliable Forex Broker?

This broker has managed to create an impressive operation over the last decade rising the ranks to become one of the best in the business. With over 14884703 users, it continues to improve its services ensuring all its clients feel safe and secure while trading. This is a fully licensed and regulated broker by respected authorities which cements its reliability.

In Europe, FBS is regulated and licensed by CySEC which is one of the most recognized authorities when it comes to supervising trading companies operating within the EU. The FBS is also a member and contributor of the ICF (Investor Compensation Fund) which gives European traders an added layer of protection. Each trader can be granted 20000 Euros in case the broker goes belly up and isn't able to pay its traders for any reason.

Outside the EU, traders are protected by the IFSC (International Financial Services Commission) that operates out of Belize. All these steps taken to be regulated and licensed gives traders the added security that they're dealing with a transparent and trustworthy company.

Types of Trading Accounts

The types of accounts on FBS Forex can be grouped into 4 categories:

• Demo Account
• EU Traders Accounts
• International Traders Accounts
• Islamic Accounts

Demo Account

The demo account for this broker is called the 'Trade 100 Bonus'. Use this account to train and get more trading experience before you start investing real money on different instruments. You must register which is done by three means. You can sign up via your Facebook account, Google account, or through email.

You get $100 free from the broker to practice with on the bonus account. Learn as much as you can by using the video tutorials and put that knowledge to the test by using this bonus amount.

EU Traders Accounts

Being a resident of any country within the European Union limits the types of accounts you can register on this platform. This is because of EU regulations that limit you to only two types of accounts.

• Standard Account

It takes only a few minutes to register the standard account. You should deposit a minimum amount of 100Euros to start using this account for trading purposes. You're permitted to have 200 positions that are open and have pending orders while the accepted leverage is 1:30.

• Cent Account

As a beginner in Europe, this is the best account to start trading with after the demo account. You only deposit a minimum amount of 10EUR to start trading. The open positions permitted are 200 and the leverage is 1:30.

• International Traders Account

Traders outside the EU have access to more types of accounts than those residing within it. This means you can choose the best account depending on where you're located in the world. FBS has a presence in 190 countries worldwide.

ECN Account

It's better to open this account if you have more experience in trading or are a professional in the industry. The minimum deposit is $1000 and you get -1pip floating spread. There is a fixed commission charged $6 with leverage of up to 1:500. When it comes to pending orders and the maximum positions that can be open, there are no limits to this whatsoever. ECN is the market execution used.

• Cent Account

As a beginner, this is the best account to start trading with because you can gain more experience and not use so much money in the process. This is because you're permitted to deposit as low as $1 into your trading account with a leverage of 1:1000. Hi get you an order volume of 0.01 minimum and you use floating spreads that start at 1 pip. There are no restrictions when it comes to using the robots and strategies provided by this broker.

• Unlimited Account

The minimum deposit accepted for this type of account is $500. 0.2 pips are the floating spread. This account grants you access to all the pending orders and open positions you want without any limit to how many you can have at a time. This gives you the freedom to trade as you see fit without any worry of restrictions limiting your reach.

• Standard Account

As a mid-level trader with more experience and confidence in your trading skills, this is the right account for you to open. The minimum deposit accepted is $100 with a leverage of 1:3000. With this account, you can focus on reducing risks while improving your profit margins.

• Zero Spread Account

More experienced traders need this type of account that accepts a minimum deposit of $500 to start trading. You execute all trades without any spread. This gives you more room to study the current conditions of the market and there effect on trade. A $20 commission is charged per lot.

Islamic Accounts

The broker has taken into account its Muslim traders and allows them to swap their accounts to those that adhere to a 100% Sharia law. These Swap-free accounts are available to all citizens residing in countries that have Islam as one of the major religions. For those countries where this is not the case, contact customer service for assistance to change the account.

FBS Trading Platforms

Both Windows and Mac can use the MT platform software that this broker supports. Simply download it onto your device and start using it. Both MT4 and MT5 are used for trading and you benefit from their features.

MT4

There are limitless possibilities when using MT4 as the preferred software for all the trades you place. Through it you can trade in many instruments under CFDs, Indices, Forex, Stocks, etc. the leverage for this global platform is 3000 and you don't have to worry about any re-quotes.

Features of Meta Trader 4

• There are helplines that are inbuilt on the MT4 and language for Meta-quotes that are ready to offer any assistance needed.
• MT4 is built with the capacity to handle orders in the largest possible quantities
• You know all the latest market news from around the world and can even live stream.
• Trading is executed fast and precise with only one click required to activate it.
• You can customize it to have various time frames and indicators that are designed to suit your trading requirements.
• You can import or export all historic data stored in it while managing your database adequately.
• There is a wide variety of tools for charting and indicators numbering 50 in total for comprehensive analysis.
• You can use advisors that are experts in the field.
• Easy download and installation onto any device you want.

MT5

Meta Trader 5 is more advanced than the MT4 and soon it shall replace it completely. You work with various activities simultaneously and can trade on several instruments like CFDs, metals, forex, among others. There are no requotes and 3000 is the leverage expected.

Features of Meta Trader 5

• Fast trading with only one click required
• Spreads are low for this platform
• Graphic orders have parameters that can be edited.
• Option to use the 'History' tab to select specific times in history
• The chart displays all orders that are still active
• Uses the most advanced technical tools of the two platforms
• Inbuilt online store with already created scripts, indicators, and advisors for trading.

Trading Instruments

Trading instruments that you expect to get from this broker are CFDs, currency pairs, and metals, stocks (for international traders only).

Forex (Currency Pairs)

All currency traded in the forex market is in pairs which means you should compare the value of the two to obtain their relative value. The major currencies in the world get most of the activity as Forex carries the largest volume of trade in the world. It also has the highest liquidity of any other asset for trading. All currencies traded in Forex must be abbreviated, an example, EUR, USD, CAD. Pairs are written as EUR/USD where the first abbreviated currency is the Base followed by the Quote currency. Units of the quote currency are used to calculate the price of the base.

All the currencies traded are divided into three groups namely Major, Exotic, and Crosses. The major currencies see the most activity on the forex market making them the most popular among traders. They're the currencies of the major economies of the world like USD, AUD, EUR, JPY, GBP, and CHF.

Exotic currencies are those from the developing economies paired with major currencies. The developing economies are mainly Mexico, Brazil, and India which gives you pairs like USD/TRY, EUR/SEK. Crosses are major currencies paired together but don't include the USD. This gives you pairs like EUR/AUD, JPY/GBP.

CFDs

FBS forex majors on currency pairs for the forex market but experienced traders prefer to diversify their portfolio by adding more assets like CFDs. This enables you to spread out your risk while increasing your chances of turning a profit. Contracts of Difference are between a seller and buyer witnessed by a broker who acts as the connection between the two.

The price of an underlying asset is the one that bases the CFD and traders benefit from the difference between the price for the seller and the buyer. You don't physically own the asset which reduces the risk you incur in this trade. They permit you to open both buy and sell trades and trade on the usual MT5 platform that you're familiar with.

Metals

Trading in metals can be traced throughout history especially when it comes to precious metals like silver and gold. They don't lose value and can be used for exchange anywhere in the world. As you diversify your trading portfolio, consider adding metals to your assets as they're rarely affected by economic changes anywhere in the world. You should not worry about inflation either.

When trading in metals, you're not buying it physically. You don't get actual gold when you place a trade on it, you use the spot price of this precious metal as it goes up or down in the market. This fluctuation in price symbolizes certain changes in the world economy influenced by several factors.

There is never much change when it comes to trading in gold and most investors prefer is for this stability in pricing. It's the safest assets to trade in when times are uncertain and gold acts more as a currency than a commodity that can be bought or sold. Other precious metals are platinum and silver.

How to Open an Account on FBS Forex

To trade using money means you open a trading account and deposit money into it. Do this after you've tried your skills on the demo account and are confident enough you can take part in real trade. Opening a trading account is easy and only requires a few minutes to complete the process.

• Open a blank browsing page and input the FBS website www.fbs.com
• Once the homepage loads, click on 'Open Account' to start the registration process to get a trading account on the Personal Area
•  There is the option to register an account using your Google or Facebook social pages
• Choose the type of account you want to operate. Refer to the types of accounts on this review and select the one that suits your needs and level of trading experience. Beginners are best suited to use the Cent Account that has a minimum deposit of $1.
• Fill in your Full name and email then click on 'Register as a Trader'
• This opens a new page that you use to sign in if you have a Google account. You can still head to your email and activate the trading account by clicking on the link sent to you.
• Follow this by depositing funds to start trading.

How to Deposit on FBS

It's important to follow the registration process by depositing money into your new account before you can start trading. The process for deposit is straightforward and there are several methods available to use on this platform. The various methods for you to choose from are Visa, Neteller, SticPay, Skrill, Perfect Money, and bitwallet. To deposit money:

• Load the website for FBS and log into your trading account on the Personal Area.
• Scroll to the 'Financial Operation' then select 'Deposit Funds' from the provided list of activities.
• Choose the method you prefer to use for depositing funds into your trading account
• Input the account details and the amount your wish to deposit into the account keeping in mind the limit for the type of account you opened.
• Choose the currency you prefer to transact in
• Click on 'Deposit Account' which then redirects you to the payment page for the selected method, for example, Neteller.
• Receive the PIN code for the method of payment to authorize the transaction which you then fill on the provided space.
• Click on 'Continue' then 'Confirm Payment' to complete the process.

How to Withdraw from FBS

You must know that the same method you use to deposit money is the same one to use when withdrawing. You can't be allowed to use different methods for the two processes.

• Load the website for FBS and log into your trading account on the Personal Area.
• Scroll to the 'Financial Operation' then select 'Withdraw Funds' from the provided list of activities.
• Choose the method you prefer to use to withdraw money from your trading account
• Input the account details and the amount your wish to withdraw
• Choose the currency you prefer to transact in
• Click on 'Withdraw Account' which then redirects you to the payment page for the selected method, for example, Neteller.
• Receive the PIN code for the method of payment to authorize the transaction which you then fill on the provided space.
• Click on 'Continue' then 'Confirm Payment' to complete the process.
• There might be a withdrawal commission depending on the method you use to transact which also determines the processing time.
• Monitor the status of your transaction by clicking on 'Transaction History'.

What Makes FBS Different from Other Brokers?

On top of constantly improving its services to give the customer the best trading experience on the platform, FBS is fully licensed and regulated. This means it has to run a transparent and honest operation that is above board. It's a contributor to the IC Fund means to compensate customers in case the company falls into financial hardships. Each user can expect to get up to $20000 from the compensation fund.

A reliable customer support network ensures clients from all across the world get fast assistance no matter where they're located. This company has a presence in 190 countries and sees to it that all these users are catered to. You can chat up an agent on the homepage of the website to ask any question or lodge a complaint.

There is extensive material to learn all about trading with a guidebook that takes you through all the major processes involved. As a beginner, this is the best place to start and learn as much as you can. There are even tips that traders can use to make good decisions while trading on this platform.

Pros

• Great educative content and materials
• Easy account registration process
• Regulated and licensed in Europe and internationally
• Swap-Free option for Muslim traders

Cons

• Only has MT4 and MT5 platforms

FAQ

⚖️ Is FBS Forex regulated in Indonesia, Brazil, South Africa, India, Nigeria, Kenya, and other countries?

Yes, this broker is regulated in all the regions and countries it operates from. It's regulated in Europe by CySEC and internationally by IFSC.

🙋 How to open an FBS Forex Demo Account?

Open an account following the process of a trading account but ensure you specify you want to use it as a demo account first.

🔐 How can you close an FBS Forex account?

FBS doesn't permit you to close an account. You can choose to leave it inactive for 90 days when it shall be archived. To restore access, simply log in and start trading.

🎁 Does FBS Forex provide investors with any bonuses?

You can benefit from bonuses provided on this platform. You get a 100% bonus on your first deposit on a new trading account and you can withdraw profits you get while using the bonus.

⚙️ What instruments are can you access from this Forex broker?

Forex, CFDs, Shares, and Metals.

📱 Does FBS Forex have an app?

Yes, there is an official FBS app that you can download on your Android or iOS smart device.

Conclusion

Overall this is a well-designed platform with a user-friendly interface. All the educative content helps beginners learn as much as they can about trading the right way. Take time to practice on the demo account then open a live account depending on the type you want and where you're located.