In the wake of global stagflation, investors are looking for safe havens to protect and diversify their financial assets. This is why we take a closer look at FBS, a successful global broker, which is already active in more than 150 countries with over 27 million traders worldwide.
In our FBS trading review, we are looking at all account types, instruments and costs associated with opening an account. In the end, we will explain why FBS is a legit brokerage organization.
FBS – From Forex to Fully-Fledged Broker
FBS started as a Forex broker in 2009 and has expanded its offerings ever since. Nowadays, customers can invest in various CFDs related to metals, stocks, indices or cryptocurrencies. The USP: FBS offers different accounts for different target groups, depending on the skill level and trading preferences.
Where does FBS operate?
FBS is a global broker, which is active in more than 150 countries and hosts over 27 million traders worldwide. During the time we conducted our FBS review, roughly one quarter of all clients are associated with FBS Philippines. Apart from Asia, FBS has expanded its services to other parts of the world, including Europe, Africa, and Latin America.
What FBS account should you choose?
The type of account mainly depends on the desired instruments as well as the experience level of each individual trader. At the time of our FBS trading review, the broker offers 6 different account types:
- Standard account: The Standard account is designed for all skill levels and offers a wide range of instruments at zero commissions and a moderate 0.5 pips.
- Cent account: Specialized account for small orders and traders with limited knowledge.
- Pro account: An account for seasoned traders with low spreads and a minimum deposit of 1000 US-Dollar.
- ECN account: The ECN account appeals to seasoned Forex traders with large orders.
- Crypto account: For traders, who are mainly interested to trade with Bitcoin and other crypto-related assets.
- Zero spread: As the name suggests, this account charges no spreads, enabling traders to make preciser forecasts regarding their gains.
- Micro account: This account enables traders to calculate the gains with advanced trading tools, such as the Trader’s calculator.
The following table describes all account offers, target groups, fees and instruments FBS has to offer:
How to sign up at FBS?
After clients have chosen their preferred trading account, they can register in just a couple of minutes. For the registration process, traders can choose between 2 options:
- Register via name and email address
- Register with social networks such as Google, Facebook or Apple ID.
After signing up, traders still need to verify their account in order to withdraw funds. We recommend doing this immediately. The identity can easily be confirmed by uploading a personal document. The process usually takes a few hours, depending on the current customer queue.
To deposit and withdraw money, FBS offers its clients multiple payment options, including bank transfers or payments via credit card.
How Safe is FBS?
Is FBS legit? In order to answer this question, the first step is to examine the regulatory bodies, which govern the broker. Financial regulatory institutions are responsible for overseeing the financial industry to protect the interests of consumers and investors.
FBS is a regulated broker brand that unites companies operated under the oversight of various financial regulatory bodies, including:
- Financial Services Commission (FSC, Belize)
- Cyprus Securities and Exchange Commission (CySEC, Cyprus)
- Australian Securities and Investments Commission (ASIC, Australia)
Further, the broker keeps client funds and the company’s operating fund on segregated accounts, so that the money is protected even in case the company goes bankrupt. This is a very strong indicator that there is no FBS scam.
FBS Customer Service
Compared to other brokerage services, FBS offers a very responsive and friendly customer service, which is available 24/7. During our review, we thoroughly tested the customer service, asked difficult questions and usually got a response within several minutes. The customer service is available at the FBS website as well as on Facebook, Telegram and LINE. We highly recommend our readers to personally get in touch if there are still concerns or open questions.
FBS: Customer Voices
FBS scam or legit? Besides regulatory bodies, customers should take a look at unbiased reviews to get an insight in the experiences of other customers. Therefore, the following section summarizes positive and negative reviews.
“Far away. FBS is like far better and far away from all the other platforms I have encountered. There’s simply an elegant touch in every detail and the sense of professionalism in all practices here” (Trustpilot)
“FBS is a super cool forex broker that… FBS is a super cool forex broker that really cares about transparency, reliability, and innovation. Their trading platform is super easy to use and offers tons of tools to help you make smart trades. The broker is globally known and safety is not doubted here.” (Trustpilot)
“Trading is about opening and closing… Trading is about opening and closing positions, but this app closes your positions automatically!! Waste of money and time….. how can someone go long with such an app? And don’t get me wrong people.. I am talking about an experience for 2 weeks before writing this review and after updates.. worst trading app.” (Trustpilot)
FBS Review: Is FBS Legit? Is FBS Scam?
Looking at the global regulatory bodies as well as a strong customer base of more than 27 million traders, it becomes clear that the brokerage service is a legit organization. Next to the already established factors, it is also worth mentioning that the organization is now an official partner of the prestigious football club Leicester City, which has high requirements to commit to any public cooperation.
Conclusion: 5 out of 5 points
A great brokerage service for beginners and trading experts: Not only did we find good customer service, but also lucrative trading models, which perfectly fit the needs of different target groups. Next to all these advantages, FBS further offers multiple bonuses and promotion packages, such as welcome bonus or cashback rewards.
FBS exceeds customer expectations, offers a trading platform that adds value to its customers and even enables beginners to start trading.