You will come across many options when you start looking for brokers to launch your trading career. It is, without a doubt, a profession that can offer you huge returns with minimal investment. This is the top reason why more and more people are dipping their toes in the trading world. You can meet and achieve your financial goals far quicker than before and be your own boss. But, you cannot do it without having the right broker by your side. Picking the wrong broker can weigh quite heavily on your bank balance and that’s not what you want.
You want a broker that can meet your needs, no matter what stage you may be at. Whether you are a beginner or an experienced trader, you want to have a broker that can accommodate you easily. This is exactly what you will find with FBS. This broker was founded in 2009 and since then, it has spread its presence to 120 countries and provides its services to more than 700,000 traders. It offers spectacular services that has helped the broker in getting many awards. In 2010, FBS was awarded the best mini forex broker and then the fastest growing broker in Asia in 2012.
It earned the best broker in Asia award in 2013 and the awards continue to come in every year. With FBS, traders can enjoy a wide range of trading accounts, competitive trading conditions, plenty of payment methods, a choice of variable and fixed spreads, different promotions and MetaTrader 4 and MetaTrader 5. FBS Markets Inc. is the company behind the broker and it is regulated and licensed by the International Financial Services Commission (IFSC) of Belize. While the regulator may be liberal when it comes to forex brokers, the regime in Belize is still better than numerous other offshore countries.
In order to establish its status and presence more strongly, FBS took another step in 2017 by getting licensed in one of the most popular destinations for forex brokers i.e. Cyprus. Tradestone Limited, its EU entity, is operating under the regulatory oversight of CySEC (Cyprus Securities and Exchange Commission). There are a number of requirements that forex brokers have to comply with when they are regulated and licensed by CySEC. These requirements relate to transaction reporting, capital adequacy, AML policies and clients’ funds segregation amongst others. Apart from that, all licensed brokers are also members of the Investors Compensation Fund, which provides compensation of 20,000 EUR to every client in case the broker becomes insolvent.
Moreover, according to the MiFID regulations, all brokers that are regulated by the CySEC can operate through the EEA and EU.
Like other top brokers in the market, FBS has also chosen to incorporate the popular MetaTrader 4 (MT4) trading platform. It works quite well on Windows and Mac and you can also run it on Android and iOS smoothly. It provides support for automated trading in the form of Expert Advisors (EAs) and no downloading is required. It is one of the most functional and intuitive trading platforms that you can find nowadays and is equipped with some distinctive features. If you want to upgrade, FBS has also added the MT5 platform for your convenience.
FBS has aimed to accommodate the needs of a range of traders and one way of doing so is by offering five account options to choose from. Each of these accounts come with their own set of features and benefits. From traders who want to minimize their risk to traders who want to invest big and trade huge volumes, there is an option for everyone. If you don’t want to risk anything and prefer to practice first with virtual money, there is the option of demo account. Let’s take a look at the other options:
With a minimum deposit requirement of $1, this account offers you floating spreads starting at 1 pip. There is no commission and the leverage can go as high as 1000:1. You can have a maximum of 50 pending orders or open positions.
For this account, you need to deposit at least $5 and the floating spreads you get start at 3 pips. You don’t have to worry about commissions here either and leverage is increased to 3000:1. As for open positions and pending orders, they are now 100.
You can open this account by depositing $100 and the floating spreads begin at 1 pip. The leverage is 3000:1 and there is no commission. 100 pending orders and open positions are allowed under this account.
Zero Spread Account
This account has a minimum deposit requirement of $500 and floating spreads are available from 0 pips. The commission begins at $20 per lot and leverage is 3000:1. The trading is limited to 100 open positions and pending orders.
As the name indicates, this account is free of any trading limits and can be opened with $500. There is no commission and leverage is 500:1. The floating spreads begin at 0.2 pips.
Apart from these account types, FBS also offers its traders swap-free (Islamic) accounts and you can also enjoy VIP services after you have achieved a certain trading volume and deposited a certain amount. This broker also offers STP/ECN environment.
Methods of Payment
A wide range of payment methods is offered by FBS to its clients, which include debit and credit cards, such as Visa Electron, Visa and MasterCard. Other methods include bank wire transfer, Perfect Money, FBS Asia Exchanger, YuuPay, OKPAY, LaoForexBoard, Neteller and Skrill.
The broker also offers a variety of promotions to its clients. These include a welcome trading bonus of $100, a 100% bonus for making a deposit and many more. These promotions vary with time, but there is always something.
If you are looking for a decent broker that has been around for a long while and has received awards for its services, FBS is the ideal choice and its trading conditions and platforms can accommodate all kinds of traders.