FBS broker is one of the most popular brokers for Asian traders but there are some confuses about this broker. To let traders have the best choice of brokers, I clarify all information relating to this brokers for their convenience.
Now FBS was founded in 2009 and offers up to 20 35 currency pairs, 4 precious metals, 2 CFD and cryptocurrencies. In my opinion, FBS has all standards to be the best broker in the world. So what are those standards? If you are concerning about that, let’s read until the end of this article.
Below are standards that I will mention in this article:
- Credibility
- Regulations
- Trading costs
- Spread
- Commission
- Bonuses
- Trading conditions
- Account types
- Payment systems
- quotes quality
- Customer support
- Local offices
- Availability
Simultaneously, I will compare this broker with other biggest brokers such as Exness and XM.
- The credibility of FBS broker
Actually when we mention the credibility, it means to concern about brokers’ licenses and regulations. One of the most decisive factors used to judge the broker is regulation. Regulations are the standards that trusted financial organization offer to manage brokers. Regulations make sure that brokers must follow certain set of rules to secure the traders’ safety. And these regulations are very difficult to follow so only big brokers are able to meet the demands of those regulations. FBS possesses regulations such as CySEC and IFSC – two of the most reliable regulations. So traders can rest assured that they are under safe situation.
Many people believe that the more regulations, the more reliable the broker is, which is a wrong idea. Because the regulation is the one needed to protect the traders from losses and illegal actions in their country. If your country has one regulation, you should trade with broker who has that regulation. You don’t need to find other brokers with many regulations. Your county’s regulation is enough to protect them in their trading. For example, FBS has IFSC regulation – a South African one so South African traders can believe in it when trading with FBS. While your country does not have regulation, you should find the brokers who has trusted regulation and FBS broker has CySEC which í one trusted regulation in the world. If there are too many regulations, there will be many limits for brokers and traders as well. The regulation is just a signal to secure that broker is reliable and safe enough to trade with.
- Trading costs of FBS broker
When mentioning the trading costs of a broker, we often think of spread, commissions and bonuses. The spread is the difference between the Ask price and the Bid price for a currency pair. FBS offer the low spread of 0.2 to 1.1 pips which is on top low spread brokers in the world. Some brokers charge spreads for the income, the others get the commissions. And FBS gets commission as well. Depending on types of account, FBS offer the different commission rates. For Cent and Standard accounts, FBS does not get commission.
- Bonuses of FBS: FBS offers many types of bonus to support their traders such as welcome bonus, deposit bonus or loyalty program. Its bonus is very high with the rate of $123. Firstly, the welcome bonus is up to $50. It means that traders will be transferred $50 immediately since they sign in the account on FBS’s system. FBS give back 100% of the deposit amount when traders deposit an amount to trade on the system. There is the cashback program which rebate traders $7 for every lot completed.
- Trading conditions of FBS.
There are 4 types of account on FBS system which are the regular account (Cent account, Standard account, and Fixed Spread account) and ECN account. Each account has its own features and own traders.
- Cent account: this type of account is especially for beginners and new traders. With this account, traders only need to deposit $1 to trade within 1 month because beginners often get losses at their first trading’s. The spread is only 1 pip. The order volume is form 0.01 lot Cent up to 1000 lots. By this way, traders can avoid losing much money.
- Standard account: Traders with much experience will trade with this type of account. The minimum deposit is around $100 which is very low. Its spread is only 0.5 pip and its leverage is up to 1:3000 which is pretty high. The high leverage is good for traders as well. Standard account is commission-free as well. Traders will not concern much about trading costs because of these mentioned factors.
- Fixed spread account: (also called Zero Spread account) this type of account has no spread, its main income is from commission of $20. The minimum deposit is from $500. Other standards are same as Standard account.
- ECN account: is especially for experts and long-term traders. The minimum deposit is up to $1000 which is pretty high but instead the commission is much lower than other brokers ($6) like Exness and XM ($5 and $6 respectively).
- Payment system and customer support
US and UK brokers are the best brokers in their countries but overseas, it is less popular because of some factors. Some countries in Asia like Thailand, Indonesia, if traders deposit by their credit cards, their bank will charge from 1.7 to 4% of total fund. So having to pay 4% only for depositing, traders will hesitate to trade with them. That is the main reason why traders should choose the best broker with the best local payment system. FBS is one of these brokers who has best local payment system. They let traders deposit and withdraw money through local banks or e-wallet in some Asian countries. The speed of transaction is fast enough. It only takes half or an hour to complete, not hours and days like other brokers.
FBS support service is very amazing. They support traders 24/7 in English on live chat channel. You can ask them to call you back if needed. For traders who don’t speak English, they build the offices in Indonesia, Malaysia, Egypt, Thailand, China, Korea and Myanmar to support traders well in working time.
