Financial Brokerage Services (FBS) is an international company that was founded in 2009 in Belize. One of their main business activities takes place in Asia, namely in China, Malaysia and Indonesia where they established branch offices. This FBS review will reflect on the major aspects of FBS from the regulation policy to the specific features this broker offers.
Every legit Forex company should have an agency or organization watching over its business conduct. Forex companies need to be licensed to prove their legitimacy. In this market, the superior power belongs to regulatory agencies and organizations. They make sure that the broker companies have registered in accordance with the law and that they continue implementing lawful provisions and good practices. As a trader, always check out the license issuer of your broker. In this case, the FBS is regulated by Belize’s IFSC (International Financial Services Commission) and the Russian NAFD (National Association of Forex Dealers). For security reasons, you can always contact these two organizations to make inquiries about the FBS broker. They will let you know if the broker engaged in illegal activities or if they work properly. Under the regulation, FBS promotes and guarantees integrity, fairness, and consumer protection. Traders have a legal basis and a superior authority they can turn to if they notice any misconduct or malpractice.
Trading Platforms Available at FBS
After we’ve clarified the legitimacy of the broker, let us continue with the second most important feature in the Forex business. The trading platform is the operational tool of traders, and clients want a flawless-functioning platform. Some platforms have already become famous given that they meet the majority of the clients’ needs. One of the best and most famous ones is the MetaTrader 4 platform which offers all the features one could need, and it is one of the FBS platforms as well. This brand is especially famous because it offers automated trading. This means that you can rely on trading signals to trade on your behalf. These signals were developed by experts who have experience in the market. The other platform provided by FBS is the web-based MT4 with no download requirements and suitable for Mac, Windows and iOS systems. Mobile trading has become a constituent part of the business, and an FBS mobile app is also available for iOS and Android. Mobile apps provide the easiest access in general. We see that FBS relies on high-quality platforms and that traders’ accounts are safe with these advanced technology tools.
Almost all brokers provide different accounts (at least two) to match different levels of traders. Some are casual traders; others are pros or passionate investors who need more features and extras to maintain their trading processes. FBS offers four different accounts as follows:
- Cent Account – similar to a Demo account where beginners practice their trading skills and familiarize with the platform. The only difference is that it is not free, but a small deposit is required, e.g. $1.
- Fixed Spread Account is also recommended to beginners and no-risk takers. With this account, you only trade with fixed spreads which means that trading risk is significantly lowered, and you stay unaffected by the market changes.
- Standard Account is for experienced traders, and conditions are more or less the same as with other standard accounts.
- Unlimited Account is reserved for passionate investors and professional traders. It is similar to VIP accounts offered by other brokers.
The minimum deposits vary for different account types, and the larger the minimum deposit, the more benefits will be at your disposal. For example, spreads with the Standard Account are as low as 1 pip, while with the Unlimited Account the minimum spread starts at 0.2 pips. Even if the FBS broker does not charge any commissions directly, they place an additional spread on currency pairs.
FBS Promotions and Bonuses
FBS is very creative with bonuses. They often offer different time-limited promotions and prize money to win (usually trading credit which cannot be cashed before you invest it). They offer a 100% deposit bonus (with no time limits) which doubles your investment instantly. A $5 no deposit bonus is also part of the package. They also organize monthly or weekly bonus offers.
What potential traders need to know is what is charged and what not. The FBS Forex broker usually does not charge a deposit fee, except if you pay via YuuPay or Skrill. These two methods require a 3% and 7% fees respectively on deposits. Withdrawals, however, always come with a fee. The fee depends on the payment method. For example, the bank transfer fee is $30 fixed, while a percentage applies to other payment methods. You can check them out on the FBS website to be sure how much exactly. The payment methods accepted by the FBS broker, besides bank transfer, YuuPay and Skrill, are Visa, MasterCard, Regular Pay, WebMoney, Neteller, OKPAY, PerfectMoney, ZAW Forex Service and Sahib Exchange.
FBS Customer Support
The FBS customer support is available 24/5. Contact them via live chat, e-mail or phone. Their website is available in 12 languages: English, Russian, Lithuanian, Spanish and Portuguese (for European customers), Arab, Chinese, Korean, Malay, Thai, Indonesian, Vietnamese (for the Asian market). FBS is committed to their cause and if you want to work with this broker, you can always contact their regulators and FBS’ customer support (just to test their efficiency before you register with the broker) to make sure you are making a right decision.
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