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Last Updated On November 17, 2023
60-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website, you agree to our Terms of Service.
FBS is a low-risk CySEC-regulated international broker with a range of accounts, including a low-deposit entry-level account, a dedicated crypto account, and a decent range of trading platforms.
However, some drawbacks are FBS’ high trading fees and the limited range of Forex pairs. Otherwise, FBS provides a welcoming environment for beginner traders, with an excellent selection of educational and market analysis materials, and 24/7 customer support.
🏦 Min. Deposit | EUR 5 |
🛡️ Regulated By | CySEC, ASIC, FSCA, FSC |
💵 Trading Cost | USD 7 |
⚖️ Max. Leverage | 30:1 |
💹 Copy Trading | No |
🖥️ Platforms | MT4, MT5 |
💱 Instruments | Cryptocurrencies, Energies, Stock CFDs, Forex, Indices, Metals |
With strong local and international regulation, FBS is a safe broker for British traders to trade with.
CySEC Regulated: While awaiting authorisation by the Financial Conduct Authority (FCA) of the UK, British traders will be trading with the European subsidiary of FBS, which is licenced and regulated by the Cyprus Securities and Exchange Commission (CySEC). The Temporary Permissions Regime allows EEA-based firms to operate in the UK. See below for FBS sign up notice:
Safety Features: FBS clients in the UK will have a leverage limit of 30:1 for Forex trading and have negative balance protection, so they can never lose more money than they have in their trading accounts. Traders will also have their funds held with the Bank of Cyprus Public Company Ltd in segregated accounts and are protected by the Investor Compensation Fund, which is not available under FBS’ other regulatory authorities.
Company Details:
The choice of financial assets offered by FBS is limited compared to other similar brokers, but it offers a wider range of cryptocurrencies.
Due to CySEC regulations, maximum leverage on all assets is low, though this will be the same for all CySEC-regulated brokers.
Overall, the selection of trading instruments available at FBS is generally limited, but it has an excellent range of cryptocurrencies.
FBS offers three accounts, including two commission-free accounts and a dedicated crypto account, with reasonable minimum deposit requirements.
Trading Fees: FBS’s trading costs are about average on its two commission-free accounts, but significantly higher than other brokers on its Crypto Account.
See below for more details:
Cent accounts are suitable for beginner traders and allow trading micro-lots. The initial deposit is 10 USD and spreads average at 1.1 pips (EUR/USD), which is around the industry average.
Standard accounts are commission-free accounts with a minimum deposit of 100 USD, and variable spreads that average at 1.1 pips (EUR/USD).
FBS offers a dedicated Crypto account, which supports more than 100 instruments: coins to coins, coins to fiat, coins to metals, etc. The minimum deposit on this account is 1 USD, and leverage is fixed at 1:2. However, spreads are extremely wide on these assets, and commissions are 0.1% (round turn), which translates to 100 USD per lot traded. The crypto account is available on the FBS Trader app only.
FBS offers free demo accounts, allowing traders to test out the Forex strategies with virtual money, using real market data. Using a demo account is a good way to learn how to trade. Demo accounts expire after 40 days, after which time they are automatically deleted. Clients can open a new one when this happens.
Although we were pleased to find that FBS charges no deposit or withdrawal fees, withdrawal times are longer than the industry average.
In line with Anti-Money Laundering policies, deposits and withdrawals at FBS cannot be made to/from third-party accounts.
Trading Account Currencies: We were disappointed to find that although deposits can be made in most national currencies, they are subsequently converted into USD and EUR. Because FBS does not support accounts denominated in GBP, British traders will have to pay conversion fees on all deposits and withdrawals. Conversion fees can make trading expensive, and affect profitability.
Deposit and Withdrawal Fees: FBS does not charge for making deposits or withdrawals. Deposits made via electronic payment systems are processed instantly, and deposit requests via other payment systems are processed within 1-2 hours.
See below for a list of FBS payment methods:
Overall, FBS provides a limited range of funding methods but both deposits and withdrawals are free.
FBS offers a wider range of trading platforms than is typically available at other brokers, including its own in-house mobile trading app.
We quickly realised that the FBS Trader app is not a trading platform, but more of a portal that allows traders to manage their MT4 and MT5 platforms from a mobile device or tablet. We were pleased to see that the FBS Trader App is now also available on iOS where previously it was only available for Android devices.
FBS Trader Features: We enjoyed how easy it is to use the FBS Trader app. After you register an account, it takes you through a tutorial to help you easily navigate the platform. The app also has an intuitive home screen and sophisticated dashboard that allows you to easily skip between a real or demo account. The app allows you to view educational videos, has an integrated economic calendar, and allows you to contact customer support. Traders can also track real-time stats, open/close/edit positions, add stops to open positions and delete working orders.
With both MT4 and MT5 available, FBS’ platform support is average.
The advantage of brokers offering third-party platforms such as MT4 and MT5 is that traders can take their own customised versions with them should they decide to migrate to another broker. However, the in-house platforms available at other brokers are usually more beginner-friendly and easier to set up than MT4 and MT5.
Both MT4 and MT5 are available for Windows, Android, iOS, and web browser.
The account opening process is easy, hassle-free, and fast.
It took us about 5 minutes to open an account at FBS and once our documentation had been submitted our accounts were ready for trading immediately.
As a British trader, you are eligible to open an account at FBS as long as you meet the following minimum deposit requirements:
Standard Account: 100 USD
Cent Account: 10 USD
Crypto Account: 1 USD
Opening a live account at FBS is easy and fast. While FBS also offers Corporate Accounts and Joint Accounts we will focus on opening an Individual Account:
Overall, the account opening process at FBS is hassle-free and accounts are generally ready for trading in 48 hours.
FBS’ trading tools are limited compared to other similar brokers, and it doesn’t offer technical analysis tools such as Autochartist or Trading Central.
Under its trading tools section, FBS lists an Economic Calendar, a Trading Calculator, and a Currency Converter, which are all fairly standard.
Overall, FBS offers a limited number of trading tools compared to other large international brokers.
Trading Tools Comparison:
FBS is one of the better brokers for beginners – the education section is comprehensive and well-structured, and the market analysis is up-to-date and well explained. Unusually, customer service is available 24/7 – a welcome development, where the norm is 24/5. This is extremely beneficial for beginner traders who will likely set up trading accounts on weekends.
FBS offers a good selection of educational materials compared to most other brokers, and it is suitable for both beginners and more experienced traders alike.
The education section at FBS is well-structured and well-organized, and all material is free. Education is split into five sections:
Overall, the education section at FBS is more comprehensive than the material that is available at other brokers.
Education Comparison:
FBS’ market research is average compared to most other large international brokers.
The FBS Market Analysis is broken down into technical analysis and fundamental analysis. The technical analysis is somewhat limited, but the fundamental analysis is more detailed and offers Forex traders basic coverage of key topics.
Market analysis materials at FBS is free of charge for all visitors, and is divided into three separate sections:
Overall, FBS offers a range of market analysis materials that are useful for traders of all experience levels, but it is not as comprehensive as what is offered by other brokers.
Available 24/7, FBS’ customer support is better than that offered by other brokers.
Customer service is available in multiple languages, 24/7 – which is exceptional for an industry where the standard is 24/5. Support is available by email, live chat, and social media, in 14 different languages.
We found the customer service responsive, polite, and resourceful. They were able to answer all our questions satisfactorily.
Regulation: The FBS CFD trading platform was founded in 2009 by investors who were interested in trading research and technical analysis. Today, FBS is an international brand present in over 150 countries with over 27 million traders on its books. The brand unites several companies offering trading on Forex and CFDs. The companies include FBS Markets Inc. (licensed by IFSC), Tradestone Ltd. (licensed by CySEC), Intelligent Financial Markets Pty Ltd. (licensed by ASIC), and TRADE STONE SA (PTY) LTD. (licensed by FSCA). See below for more details:
Overall, FBS is considered a safe broker for British traders to trade with.
We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker, and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.
Trading Forex is risky, and each broker must detail how risky the trading of Forex CFDs is to clients. FBS would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.2% of retail accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FBS is a large online international broker with three live accounts with average trading conditions, but accounts that are suitable for both beginners and experienced traders. It offers low minimum deposits and micro-lot trading on its Cent account and has a dedicated Crypto account. FBS offers support for MT4 and MT5 and no trading tools to speak of, however, it provides excellent educational and market analysis materials, and exceptionally, its customer support is available 24/7.
Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.
Alison joined the team as a writer in 2021. She is the Senior Editor for FXScouts. She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, “Let’s Talk Forex,” alongside her colleague, Chris, and has produced over 100 Forex educational videos for the FXScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 100 Forex brokers.
Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.
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