Known as a vulnerable broker, FBS has proven its reliability for more than 10 years. But, is FBS safe? Check out the FBS review here!
FBS stands for Financial Brokerage Services, is an Asian Forex broker with offices in China, Malaysia, the Philippines, Indonesia, Jordan, Vietnam, and Russia. In 2009 FBS Operates In Russia and starts exchange trading. Today, after 12 years of journey, FBS has won the trust of 410 thousand Introducing Broker partners and 16 million traders from more than 190 countries.
As a regulatory directive, FBS keeps trader funds in different bank accounts and claims which are now used for company operations. The good thing with this is that even if the broker goes bankrupt, the trader’s investment is safe. Moreover, together with the European CySEC regulation, this makes FBS a compliant broker and therefore offers reliable trading conditions. So there are strict rules to protect your money. Continue to Read More About Brokers at Traders Union.
For added security, FBS uses Tier 1 qualified banks to secure its customers’ funds. Tier 1 is the official measure of a bank’s financial strength and health. Banks in this category are considered the safest in terms of client capital. This makes the money you deposit at FBS will be safe. Even if at any time the FBS company goes out of business for some reason, clients can still withdraw their funds.
In addition, FBS keeps trader funds in segregated accounts, this makes them inaccessible for any other use of the company, other than to increase resources and protect against negative balances. Also, as a Cyprus Investment Company, FBS is under a Remuneration Scheme, which protects clients’ investments in case the broker goes bankrupt.
Before starting anything, there are always a few things to consider. FBS offers two types of accounts namely Live and demo accounts. The FBS demo account is truly the best way to get to know your trading environment better without taking any risks with your funds.
The FBS demo account has the same features and benefits as the FBS live account. This allows you to fully emulate live trading conditions. There is also the possibility of slippage during busy market periods or times of volatility.
The FBS demo account is of course available to international traders. This demo account is a little different in that it is available for a 45 day trial period. You could then develop a brand new demo account immediately after these 45 days.
Again this FBS demo account has many of the same benefits as the FBS live account and there is no limit to the accounts you can open with each of the available types. As with the EU demo account, slippage can occur during busy market periods.
FBS cent accounts are available for international users. Similar to the FBS European Cent Account, a minimum deposit of $1 is required. This account also comes with a spread facility that starts with only 1 pip and is commission-free. Trading through this account is done using the STP method, and it is a great way to start learning to trade with FBS.
The FBS Standard Account available to international traders has a minimum deposit of $100. This account has a floating spread and starts from 0.5 pips. The STP processing method is also used in FBS. This allows you to take advantage of commission-free trading as standard and maximum FBS leverage. You have a chance to get Leverage up to 1:3000.
FBS micro accounts are available if desired for FBS international traders. This account is a kind of confluence between the FBS cent account and a standard account. FBS minimum deposit is $5 here, and fixed spreads from 3 pips are applied. This account also provides a maximum FBS leverage of 1:3000, and commission-free trading with the STP processing method used.
The FBS Zero Account provides a nice fixed spread of 0 pips for FBS traders based outside Europe. This is also accompanied by extensive leverage up to 1:3000. The STP processing method is used to ensure the best possible trades, and a commission of $20 per lot is charged. FBS’s minimum deposit to open a Zero Account is $500.
FBS ECN accounts are also available. This account requires a deposit. Account owners also have their advantage, namely the offer of Leverage up to 1: 500. The problem of commissions, this type of account applies a discount of $6. Spreads also start from -1 pips. This account type only offers forex currency pair trading.
As with FBS EU-based traders, international traders can also benefit from the availability of FBS Islamic Accounts. Islamic accounts are available to all FBS users. This account is not much different from other types. It’s just that exotic forex and CFD trading are not available.
FBS secondary account
FBS secondary accounts are restricted in case you are a European trader based under CySEC. The options here don’t go beyond the standard and micro-accounts mentioned. You also have the opportunity to use a Copy Trading account if you wish.
You can use this account to copy trading methods or design your strategy. FBS copy trading is only available through standard and micro-accounts of IFSC based international traders. FBS Copytraders are also known as investors; Therefore, you can also call it an FBS investor account type.
The customer support service at FBS is available 24/7. This service is also available in English, Korean, Arabic, Thai, Russian, Lithuanian, Vietnamese, Spanish, Portuguese, Malay, Indonesian, Chinese, and many others. You can contact FBS customer support representatives via phone calls, emails, and even social media.