FBS CFD Broker Review

Launched in 2009 and apparently based in Russia, FBS.com is a yet another brokerage with a genuinely global reach. In addition to the head office, the operator maintains offices in scores of other countries too. Its services are available in more than 190 countries and thus far, more than 7 million traders chose to make use of them one way or the other. 

Overview

With such a massive trader base, it is perhaps unsurprising that not all trader feedback about FBS.com services are positive – to put it mildly.

There are indeed quite a few complaints, concerning a range of issues, from refusal on the part of the broker to honor withdrawals, to the abusive changing of promotional terms, as well as lack of professionalism on the part of the FBS.com support personnel.

That said, the online FX/CFD industry seems to believe that FBS are a very neat bunch. The appreciation of the industry peers is clear in the scores of awards handed to the brokerage over the years. Indeed, the operator features quite a virtual trophy-case at its official website.

Nothing seems to be wrong with the operator in regard to regulation either. The primary regulator – whose backing means that the broker can peddle its services worldwide – is Belize’s IFSC. The license number is IFSC/60/230/TS/17.

In addition to this, FBS also possess a CySEC license, which attests the MiFID-compliance of the broker and allows it to offer financial services throughout the EEA. According to FBS’ website, the operation boasts an almost incredible trader retention-rate of 80%.

What is it though that so many people appreciate so much about this FX/CFD broker?

Apparently, some 48% of these traders consider the broker their main source of income. What this means is that consistent profitability is obviously the main selling point of the operation. The operator offers free deposit insurance and there’s a 100% deposit bonus on offer too – in a rather outstanding twist for a modern, CySEC-licensed broker. Support is available 24/7 and 5-digit execution precision is offered for all accounts.

Account Types

In this regard, the brokerage has truly gone overboard. There are no fewer than 6 account types available, from the Cent Account, all the way to the Unlimited Account.

The Standard Account is aimed at experienced Forex traders, and indeed, despite its name, this account is not the one with the smallest minimum deposit requirement. The minimum deposit on this one is $100; the spreads start from 0.5 pips and the leverage goes all the way to 1:3,000.

The Cent Account has been designed for beginners. Its minimum deposit requirement is just $1 – which is indeed quite impressive. Spreads on this account start from 1 pip and the maximum leverage is 1:1,000.

The Micro Account features a minimum deposit requirement of $5, so it too is very accessible. The spreads on the Micro account are fixed and they start from 3 pips. The maximum leverage is 1:3,000.

The Zero Spread Account features a minimum deposit of $500. With spreads starting from 0 pips, this account offers a maximum leverage of 1:3,000. Those aiming for the ECN Account will have to deposit at least $1,000. The spreads on this one start from -1 pip, and the maximum available leverage is 1:500.

The Unlimited Account is for high-volume traders. The minimum required deposit is just $500, and the spreads start from 0.2 pips. The maximum available leverage on this one is 1:500 too.

Trading Platform/Software

FBS trading platform selection consist of MT4 and MT5, and that’s great. These two advanced trading environments carry all the tools and features one could possibly need for successful trading. Both platforms cover an impressive range of OS, and they both feature mobile- and web trader versions.

More than 50 technical indicators and charting tools come pre-equipped with the two trading platforms as well as 3 types of charts and full VPS support – very useful for EA users.

Deposit Options

The range of deposit methods accepted by this broker is simply staggering. The Deposit page of the site scrolls on and on. The top options are VISA, MasterCard, Neteller and Skrill, as well as Bitcoin by Skrill. Scores of local-specific payment options, like Algerie Poste and Iraq Forex are supported too.

Markets

Its main market selection focused on Indices, precious metals, stocks and FX pairs, FBS have recently added cryptocurrency-based CFDs too. In this regard, Bitcoin, DASH, Litecoin and Ethereum are supported.

Customer Support

FBS customer support can be reached 24/7 in 19 languages, through live chat. There is a handy callback feature too.

Email and telephone support is available too.

Safety

Safety-wise, the operation must be given a high mark, there is no way around that.

Final Thoughts

Everything considered, FBS is an impressive global operation, with some reputation problems here and there.

FBS Overview
Regulation: CySEC