FBS

FSC Regulation: Malaysian traders will be trading with FBS Markets Inc, authorised and regulated by the FSC in Belize.

Safety Features: The FSC requires brokers to keep client funds in separate accounts and issue monthly statements to their clients. FBS offers negative balance protection so traders cannot lose more money than they have in their trading accounts. The FSC does not require FBS to restrict leverage.

The account opening process is easy, hassle-free, and fast.

It took us about 5 minutes to open an account at FBS, and once we submitted our documentation, our accounts were ready for trading immediately. 

As a Malaysian trader, you are eligible to open an account at FBS as long as you meet the following minimum deposit requirements:

• Standard Account: 5 USD

Opening a live account at FBS is easy and fast.

1. Initially, you will need to click on “Open Account” and register your name and email address.
2. You will be given a temporary password, and a confirmation email will be sent to your registered email address. Open the link in the confirmation email in the same browser as your initial registration.
3. Thereafter, you will choose between a Real or a Demo Account, your MetaTrader version, your account currency, and leverage.
4. Next, you must fill in your full name, phone number, email address, and date of birth. You must also choose your base currency, platform, and leverage.
5. We advise you to read FBS’ risk disclosure, customer agreement, and terms of business before you start trading.

Overall, the account opening process at FBS is hassle-free, and accounts are generally ready for trading in 48 hours. 

High leverage: FBS offers some of the highest leverage levels available at any broker – up to 3000:1 on Forex pairs. It also only requires a minimum deposit of 5 USD, which, in combination with the high leverage, makes it difficult to hold a substantial trading position without getting stopped out and losing the money in your trading account.

FBS is unusual amongst brokers because it offers a single account type, whereas most brokers will offer two or more. Trading costs are below average on the single account and the minimum deposit is low at 5 USD.

We opened and tested FBS’s accounts:

Standard Account

The single Standard Account is a commission-free account with a minimum deposit of 5 USD, variable spreads that average at 0.7 pips (EUR/USD), below average compared to similar brokers, and leverage of up to 3000:1.

Islamic Account

Changing account status to Swap-free is available in the account settings only for citizens of countries where Islam is an official religion (including Malaysia).

For long-term strategies where a position is held open for longer than two days, FBS charges a fixed fee for the total number of days the order has been opened.

FBS App

The new FBS App is an all-in-one mobile trading platform for iOS and Google devices.

FBS App Features: We enjoyed how easy it is to use the FBS App. After registering an account, you will be taken through a tutorial to help you easily navigate the platform. The app also has an intuitive home screen and a sophisticated dashboard that allows you to switch easily between a real or demo account. The app allows you to view educational videos, has an integrated economic calendar, and can contact customer support. Traders can also track real-time stats, open/close/edit positions, add stops to open positions and delete working orders.

 FBS MT4/MT5 Mobile Trading Apps

FBS offers support for MT4 and MT5 mobile trading apps for Android and iOS. Traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced time frames and fewer charting options, but traders can close and modify existing orders, calculate profit and loss, and trade on the charts.

Platform Comparison:

With both MT4 and MT5 available, FBS’ platform support is average. 

MT4 and MT5

The main benefit of using third-party platforms such as MT4 and MT5 is that traders can keep their own customised versions of the platforms should they choose to migrate to another broker. Both MT4 and MT5 are available for Windows, Android, iOS, and web browsers.

Although deposits can be made in most national currencies, they are converted into USD and EUR. Because FBS does not support accounts denominated in MYR, Malaysians will have to pay conversion fees on all deposits and withdrawals. 

Deposit and Withdrawal Fees: FBS does not charge for making deposits or withdrawal fees. Deposits made via electronic payment systems are processed instantly, and deposit requests via other systems are processed within 1-2 hours.

In line with Anti-Money Laundering policies, deposits and withdrawals at FBS cannot be made to/from third-party accounts.

Under its trading tools section, FBS lists an Economic Calendar, a Trading Calculator, and a Currency Converter, which are all fairly standard.

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 are free of charge for all visitors, and are divided into three separate sections:

• Forex News – A regular news feed of the day’s important events that will have fundamental effects on Forex trades. It is concise, updated frequently, and well written.
• Daily Market Analysis – Here you will find short analytical articles on the day’s events, which is very useful for new traders.
• Forex TV – a collection of videos on everything from suggested trading plans for the week ahead to historical webinars. The trading plans, in particular, are beneficial for new traders.

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.

The education section at FBS is well-structured and well-organized, and all material is free. Education is split into four sections:

• FBS Academy – the core of the education section, this is one of the better guides to Forex trading we have seen. It is split into chapters for Beginner and Advanced traders. This guidebook will be helpful in some form for almost all readers.
• Traders Blog – a frequently updated blog with useful posts covering various aspects of trading in an erudite and informal format. Recent blog posts include Top 5 Types of Doji Candlestick Patterns and ESG Investing.
• Webinars – includes a schedule and register of upcoming webinars. FBS partners hold webinars weekly from its offices around the world, and registration is a simple procedure.
• Video Tutorials – as you would expect, this is a collection of short videos covering various aspects of Forex trading – good for those who prefer watching to reading, but not as comprehensive as the Academy

Overall, the education section at FBS is more comprehensive than other brokers.

Education Comparison:

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 16 different languages, including Bahasa Melayu.

We found the customer service responsive, polite, and resourceful. They were able to answer all our questions satisfactorily.