FBS Forex Review explained by professional Forex trading experts the “ForexSQ” FX trading team, read this FBS Forex Review to the end before invest money with FBS Forex broker.
FBS Forex Review
Established back in 2009, FBS is now a popular international broker which has won numerous awards. It offers its clients competitive trading conditions, wide range of trading accounts, payment methods, a choice of fixed and variable spreads, Metatrader 4 and MetaTrader 5, as well as various promotions.
Behind the brand is FBS Markets Inc., a company licensed and regulated by the International Financial Services Commission of Belize (IFSC).
Unlike UK’s FCA and other financial watchdogs, IFSC has very liberal control over forex brokers. Belize is a famous offshore destination for financial service providers, where the regulation and licensing requirements are looser compared to other jurisdictions. Last year, however, the regime in Belize tightened – IFSC increased the initial minimum capital requirement for financial and commodity-based derivatives brokers from $100,000 to $500,000. Besides, the Commission has also increased the annual license fee from $5,000 to $25,000.
So, regulation in Belize is better than the one in the St. Vincent and the Grenadines for example, where brokers follow simple registration procedure and don’t have to comply with any requirements as regards minimum capital or segregation of client’s’ funds. Still, investing in companies registered in offshore zones is risky and if you intend to invest a large amount of money, we would advise you to select a broker licensed in EU or Australia, for example.
Trading Conditions
Minimum Initial Deposit
One may open an account with FBS with just $1 – a symbolically low initial amount. In comparison, FX Choice (which also holds a license from IFSC) requires at least $100 as a minimum for opening an account, but it offers pure STP/ECN environment.
Average spreads & Commissions
According to us, the best spreads of FBS are offered on the ECN and Unlimited account types. Spreads on ECN account start from -1 pip (negative spread) and the commission is just $6 per lot.
In comparison, Fx Choice offers typical spreads amounting to 0.5 pips on EUR/USD, and commission of $3.86 per lot applies. For further information, you may look up real-time spreads of 15 leading brokers here.
Maximum Leverage
The maximum leverage levels available with this broker are among the highest in the industry, reaching 1:3000. While this may sound attractive, especially to traders on a small budget, since it allows them to operate with significantly higher amounts, keep in mind that higher leverage involves greater risk.
We advise traders to exercise caution when using higher leverage levels, in this case – to benefit from the deposit insurance option, provided by FBS.
Trading Platforms
FBS provides its clients with a choice of two trading platforms: Metatradeer 4 (MT4) and MetaTrader 5 (MT5). Both platforms are offered as desktop, web and mobile versions.
MetaTrader 4 is the most popular forex trading platform. Equipped wirth a number of technical indicators, advanced charting tools, extensive back-testing environment, and a wide range of Expert Advisors (EA), it is preferred by most traders. allowing clients to fully automate their trades. MT4 comes in desktop, and mobile versions.
As most MT4’s indicators and Expert Advisors (EA) are not supported on the MT5 platform, the latter is still in the shadow of its predecessor. Recently, however, a number of enhancements were made to the MetaTrader 5 and the hedging option was finally added to it and it gains popularity. What is more, Russian developer MetaQuotes announced it will no longer issue updates to the MT4 and will instead concentrate on the MT5.
Methods of Payment
FBS offers its clients a wide range of payment methods: credit cards (Visa, Visa Electron, Mastercard), bank wire, Skrill, Neteller, WebMoney, Perfect Money, OKPAY, YuuPay, LaoForexBoard, FBS Asia Exchanger, Zaw Forex Service.
FBS Forex Review Conclusion
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