Financial Brokerage Services, or FBS for short, is primarily an Asian Forex trading company with offices spread across the globe, including Russia, Vietnam, Jordan, Indonesia, Philippines, Malaysia, and China. FBS was originally situated in Russia and began its forex operation in early 2009. The broker boasts with over 12 million clients that are located in 190 different countries across the globe.
Even though this is an accurate representation of the company’s reach when it comes to the modern standards of a broker, the reality of the matter is that the company does not serve the traders that are located in the United States. The lack of a European regulation also limits the company from promoting their services to the European market. However, despite the confusion that currently surrounds the regulatory status, the company has received several recognitions and awards for their services. The company has managed to receive positive reviews from its existing clientele, but still receives criticisms as well.
FBS offers a minimum deposit requirement of $1 along with a maximum leverage of 1:3000. It also boasts with five different account types and offers spreads that start from 0 pip. In addition, traders can look forward to an ECN account with commission per lot as well as tight spreads along with a full variety of payment methods.
Licensing and Regulation
The IFSC, or International Financial Services Commission, that is situated in Belize is considered the primary regulatory body that regulates each and every financial component of the broker. FBS regulation is not regarded as one of the high points for the company since most brokers are regulated by more prestigious companies, such as CySEC, ASIC, FCA, NFA, and CFTC. Belize is considered a tax haven, and as such, the IFSC’s regulatory guidelines are still under debate whether it could be compared to highly reputed and more established regulatory organizations around the world.
For those that are interested in trading on the go with their smartphones or tablet devices will be pleased to know that FBS provides comprehensive mobile apps for both their MT% and MT$ trading platforms. The FBS mobile apps can be easily downloaded for Android devices via the Google Play Store and for iOS devices on Apple’s App Store. With these dedicated mobile apps from FBS, traders can stay up-to-date with their accounts, execute numerous trades, and even manage their trading funds from the palm of their hands.
Brand & Functionality
FBS is an exceptional brand that has managed to build a solid reputation since its inception in 2009. The functionality of the site is smooth, reliable, and extremely easy to use and navigate. FBS has been the recipient of several prestigious awards for their services, including the Best FX IB Program in 2017, the Best Investor Education Program in 2017, The Best Asian Forex Broker in 2018, the Best Forex Trading Account in 2018, the Most Transparent Forex Trader in 2018, and the Best Broker in the Middle East in 2018. There are also several other awards that have been given to FBS in 2015 and 2016, giving you a clear picture of how this broker operates and handle their existing clients.
FBS is one of a handful of companies that will allow you to register with your Google Plus account or your Facebook account. On the registration page, you will need to select your account type of which there are six, including Cent, Standard, Zero Spread, Micro, ECN, Cent MT5, Standard MT5, Trade 100 Bonus, and Partner. You will also need to choose your preferred currency, including Euro and USD. Once this step is completed, you will be presented with a unique password along with the ability to create your own password as you see fit. Thereafter, you will need to verify your account by clicking on the link that will be sent to your email address. Once this step is completed, your account will be ready, allowing you to make your first deposit on your new FBS account. It’s that simple.
FBS comes equipped with a host of deposit methods to ensure all traders can effortlessly fund their accounts without having to sign up for a specific payment method first. All deposits reflect instantly in your account, and there are no hidden fees involved with any deposit method you choose to use. The wide selection of deposit methods include Mastercard, Visa, Neteller, Skrill, Perfect Money, Sticpay, Bitcoin by Skrill, Pips Empire, CashU. Simply select your preferred deposit method, enter the amount you wish to deposit, and everything else will be automated. Some payment methods might require you to verify the payment method first, but it only takes a couple of seconds to get that out the way.
FBS impresses with a wide variety of product offerings under the promotions section. Newly registered traders can look forward to a wonderful welcome bonus of 100% on their initial deposit with the Trade 100 Bonus promotion. Existing traders will also appreciate the fact that FBS offers a magnificent cashback promotion, allowing you to claim up to $7 for every traded lot from your previous orders. Lastly, the site also offers an innovative VPS-server granting which requires a one-time deposit of $450 or more. This service will be free of charge during the first month after account registration.
FBS boasts a superb trade execution plan for all its clients. Asset prices on forex change are processed within fractions of a second. The success rate is directly influenced by how fast a client can implement and make decisions. It’s for this reason that FBS guarantees the highest possible execution speed where 95% of client orders are executed in less than a second, 0.4 seconds to be exact. All accounts at FBS utilise Market Execution of orders. This means orders are essentially executed at factual market prices and no requotes are possible. In addition, orders are executed within the STP and NDD technologies which means they are offset directly within the system of the liquidity providers.
FBS utilises the latest SSL encryption technology to safeguard both the financial and personal data of clients when it comes to transacting on your account. The deposit methods mentioned above are also available when it comes to withdrawing your funds, making it even easier to get your profits as quickly as possible. All payments are processed within 15 to 20 minutes, regardless of your preferred payment method. Clients will also be able to perform internal transfers and will be able to view their transaction history directly from the financial operations section on the site. This can also be done while using the mobile apps on Android or iOS devices.
Traders at FBS can reach a representative through the live chat facility that is available 24 hours a day. Alternatively, clients can send a message to the support staff by using Telegram or even Facebook Messenger which is available directly on the site itself. The website currently supports six different languages and 13 Asian languages, including Burmese, Thai, Lao, Korean, Turkish, Urdu, Vietnamese, Japanese, Indonesian, Malaysian, Chinese, Spanish, French, German, Italian, English, and Arabic. The site also provides training emails and video lessons along with webinars and seminars which are available directly on the site.
FBS utilises the MetaTrader 4 and the MetaTrader 5 trading platforms on its site. The MT4 trading platform is considered the most renowned platform in the world which has been widely adopted by financial brokers within the industry due to its robustness and reliability. Traders also love the MetaTrader 4 trading platform due to the fact that it provides trading tools that are incorporated into the platform itself. With the MetaTrader 5 trading platform, traders can look forward to several trading features which is essentially an updated version of MetaTrader 4. The MT5 trading platform is designed to handle trading in multiple asset classes. Both the MT5 and MT4 trading platforms are available on desktop which means there’s no need to download any additional software as WebTrader is essentially a web-based site for FBS.
One of the most striking aspects of the service and products offered on FBS is the wide range of trading accounts. There are four different trading accounts offered on the site, including Cent Account, ECN account, Zero Spread Account, and Standard Account. The Cent account comes with a minimum deposit of $1 with a floating spread and offers commission-free trading, while the Standard account requires a minimum deposit of $100 with a leverage of 1:3000. The Zero Spread account requires a minimum deposit of $500 with fixed spreads and offers market execution, and the ECN account requires a minimum deposit of $1,000 and comes with a 1:500 leverage while using ECN execution.