a.   Is FBS regulated?

The FBS broker is regulated by many financial authorities in different countries like:

• CySEC: Cyprus Securities and Exchange Commission
• IFSC: International Financial Services Commission of Belize

b.   Is FBS a scam?

FBS safety is divided into 2 parts: the safety of the broker itself and the safety of the client.

i. Broker safety

FBS is considered safe as it has a long tracking record since 2009 with more than 12 years and +7000 traders daily on its platform. As well as it has survived from different economic disasters up-till-now.

FBS has also received over 40 international awards that recognize them as a Transparent Broker with Best Customer Service. It has also over 16 million clients worldwide from over 190 countries.

ii. Negative balance protection

FBS is protecting his clients with a negative balance protection with stop orders to stop the loss and lower the risk.

FBS provides a lot of trading instruments on its platform. These instruments include forex pairs, CFDs, metals, indices, crypto,  commodities, shares, and energy trading.

The main disadvantage here is that there is no ETF trading on its platform.

Disclaimer: CFDs have a high risk of losing money rapidly. About 80% of retail investor accounts lose money due to leverage when trading CFDs with this provider. Please note that CFDs are not complying with the islamic religion. And if you want to trade in CFDs you should consider a swap-free account to follow islamic rules.

Learn more about CFDs for muslims.

FBS Offering of Investments

Social Trading

As well as the offering of investments above, there’s also an option to social trading in the FBS platform. This is done by browsing the list of top traders, checking their profit statistics, and picking the most successful ones to copy.

The advantage here is that you can start and stop copying anytime as you want depending on your needs.

a. Countries available

FBS has more than 16 million users worldwide in more than 190 countries. Although it’s not available in Belize, the USA, Brazil, Thailand, or Japan.

b. Account types

FBS provides a variety of account types, each with some specifications and features that distinguish it from the others. In addition to these types you can open a demo account and trade with 0% risk for free.

FBS - Account comparison

Note:

• For EU resident members, the Cent and Standard Accounts are only available, but for the non-EU residents, all account options are available.

c.   How to open an account

You can open an FBS account in minutes through these steps:

1. Visit the FBS site.
2. Click the "Open an account" button in the top right corner of the website.
3. You can open your account manually through a social network like Facebook, Google, or Apple.
4. Choose the account type you want to open.
5. Next you have to set the currency of your account and fill in your full name, email and mobile number.
6. The system will generate you a password and you can change it after that.
7. Your account is ready.

FBS - Account opening

FBS has low commissions and CFD fees, and it offers a swap-free option on all of its accounts except for the ECN account. On the other hand, FBS does charge withdrawal fees on most of the options and there are charges as well for some of the deposit options.

a. Commissions

FBS has competitive commissions available on its accounts that start from $0 for all the accounts except for the Zero Spread account that has a commission of $20 per lot.

Note:

• FBS reserves the right to impose a 5% commission if you make a withdrawal before trading.

b. Trading Fees

i. Forex fees

The forex fees depend on your account and your country of residence as described in the ‘Account Opening’ section.

The forex spreads according to the account type are as the following:

• Cent – floating from 1 pip
• Micro – fixed from 3 pips
• Standard – floating from 0.5 pip
• Zero Spread – fixed at 0 pip
• ECN – floating from -1 pip

ii. Stock fees

FBS has very low spreads for stocks as it starts from 1 pip, and the typical spread is around 3 pips.

iii. Metals fees

There are metal trading fees applied, and it ranges from 2 pips for the XAGUSD pair to 240 pips for palladium.

iv. CFD fees

FBS does offer competitive fees for contracts for differences (CFDs) that have a minimum of 2 pips to 25 pips.

Disclaimer: CFDs have a high risk of losing money rapidly. About 80% of retail investor accounts lose money due to leverage when trading CFDs with this provider. Please note that CFDs are not complying with the islamic religion. And if you want to trade in CFDs you should consider a swap-free account to follow islamic rules.

Learn more about CFDs for muslims.

b. Non-trading fees

• Account fee: $0
• Deposit fee: Mostly free
• Withdrawal fees: starts from 0.5%

(you can check the full withdrawal fees in withdrawal fees section)

• Inactivity fee: FBS does not charge any inactivity fees on its international accounts. Your account will be disabled after 90 days of inactivity, but you can simply contact the broker to reopen it.

a. Account Currencies

The FBS account has 2 main account currencies which are EUR or USD.

Notes:

• All EU clients can usually enjoy fee-free deposits and withdrawals.
• You will not be charged with conversion fees if your account has the same currency with your bank account or when you trade assets with the same currency of your account.
• If you want to avoid being charged with conversion fees, you can open a multi-currency bank account at a digital bank.

b. Deposit

1. Options

FBS supports a number of deposit options which are:

• Visa
• Neteller
• Stic PAY
• Skrill
• Perfect Money

Along with the previous deposit options you can also use local exchangers.

2. Fees

FBS does not charge any deposit fees except for the Stic Pay option that has a $0.3 commission + 2.5% from the deposit amount.

3. Time

The transfer time is instant on all the options as it takes no time.

FBS Deposit Methods and Fees

c. Withdrawal

1. Options

FBS provides the same methods of the deposit options for withdrawals as the following:

• Visa
• Neteller
• Stic PAY
• Skrill
• Perfect Money

Along with the previous deposit options you can also use local exchangers.

2. Fees

FBS does charge fees on withdrawals with a minimum of $1 as the following table shows:

FBS withdrawal fees

3. Time

All withdrawals are done within 15 mins minimum or 48 hours maximum except for the Visa option that might take up to 7 business days to be done.

FBS Withdrawal options and fees

FBS supports two popular platforms which are MT4 and MT5 as well as the customized platform FBS Trader.

The MT4 and MT5 platforms have Web / Windows / Mac versions. The FBS trader has Web / Windows / Mac versions in addition to the mobile trading platform for Android and IOS.

1. FBS Trader

This is a customized platform for FBS broker that has a beautiful UI with easy navigation and Professional support 24/7. It also provides a two-step verification for financial transactions for more security.

The main cons is that it does not have a two-step verification method for logging in.

a. Languages

FBS is an international broker with clients in more than 190 countries and available in a variety of languages.

b. User interface (UI)

The UI of the FBS Trader platform is simple, attractive, and beautiful. With the main information about trading shown in the home page.

FBS Trader - UI

c. Login and Security

Unfortunately, there’s no option of two-step verification for logging in using the FBS Trader, but there’s a fingerprint authentication.

FBS Trader - Login

d. Searching

The searching functionality in the FBS Trader is very fine and you can find the trading asset you want just by typing the name of it.

FBS Trader - Search

e. Placing orders

There are 4 main types of orders:

1. Market orders
2. Pending orders
3. Take profit orders
4. Stop loss orders

f. Notifications and alerts

You can set notifications and alerts on the mobile version of FBS to notify you with market changes, news, and trading signals.

FBS Trader - Notifications

2. MT4

a. Languages

MetaTrader 4 is available in a number of languages like:

MT4 Languages

b. User interface (UI)

MT4 has a very customizable UI that you can adjust according to your needs and preferences. On the other hand, it seems hard to find some of the features inside.

MT4 - UI

c. Login and Security

Unfortunately, the MT4 does not provide a two-step verification method for logging in, and it does only support a one-step login.

d. Searching

Searching using the MT4 platform has its pros and cons.

• Pros: you can search by categories and find assets.
• Cons: you can not type the name of the asset and search for it manually.

e. Placing orders

MT4 has a simple order types which are:

1. Market
2. Limit
3. Stop
4. Trailing stop

In addition to those 4 types, there are other orders which are the time limit ‘Good ‘til time’ (GTT) and ‘Good 'til canceled’ (GTC).

There’s also an order confirmation feature in MT4.

f. Notifications and alerts

Unfortunately, the MT4 web trading platform does not have an option to set price alerts and notifications unlike the desktop and mobile versions.

MT4 - Notifications Settings

g. Portfolio and reports

Under the ‘History’ tab, you can find your portfolio reports with a clear fee description.

MT4 - Portfolio

3. MT5 Platform

a. Languages

MT5 is available in 7 main languages: English, Russian, Spanish, Portuguese, Bulgarian, Chinese and Italian.

b. User interface (UI)

MT5 has a very customizable UI that you can adjust according to your needs and preferences with the dark theme option. On the other hand, it seems hard to find some of the features inside.

MT5 - UI

c. Login and Security

Unfortunately, the MT5 does not provide a two-step verification method for logging in, and it does only support a one-step login.

d. Searching

Searching using the MT5 platform has its pros and cons.

• Pros: you can search by categories and find assets.
• Cons: you can not type the name of the asset and search for it manually.

MT5 - Search

e. Placing orders

MT5 has a simple order types which are:

1. Market
2. Limit
3. Stop
4. Trailing stop
5. In addition to those 4 types, there are other orders which are the time limit ‘Good ‘til time’ (GTT) and ‘Good 'til canceled’ (GTC).

There’s also an order confirmation feature in MT5.

f. Notifications and alerts

Unfortunately, the MT5 web trading platform does not have an option to set price alerts and notifications unlike the desktop and mobile versions.

MT5 - Notifications Settings

g. Portfolio and reports

Under the ‘History’ tab, you can find your portfolio reports with a clear fee description.

MT5 - Portfolio

FBS Platforms Comparison Table

a. Sources

The main source of research tools is the FBS Trader platform.

b. Trading ideas

FBS does provide trading ideas and options to trade as well as an option to copy trades from top rated traders.

c. Charting

Unfortunately, FBS lacks autochartist tools and customization.

d. Other tools

Economic calendar

This is a tool in which you can see upcoming events in the economic and forex industry in order not to miss them.

Expert Analysis

This is an option for traders to ask broker experts about anything in the field although FBS does not specify which expert offers this service.

FBS offers a variety of customer support options through different channels with the ability to chat using social platforms.

a. Options

FBS supports different customer service channels like:

• Live chats
• Phone calls
• Emails
• There’s also an option to chat using the social accounts of FBS like Telegram and Facebook Messenger.

b. Languages

The languages available for customer service are many with the support of major languages like English, Arabic, Chinese, Indonesian, Malay, Korean, Thai, Lao, Vietnamese, Spanish, Portuguese, French, Japanese, Urdu, Turkish, Burmese, German, French, and Italian.

c. Experience

The channels of the customer service have different experience from each other as the following:

• The email channel is the slowest channel when it comes to the response time. You can send an email and receive a response during hours.
• For the live chat, it works fine with a fast response time and relevant answers to the asked questions.
• The call option is very good as you schedule a time in which you want to receive a call back as well as providing your email address along with a small note about the issue.
• For social media options, you get helpful and quick answers using Telegram or Facebook Messenger.

FBS does provide great educational materials about trading for different segments. Whether you are a beginner, elementary, intermediate, or experienced, you will find the materials that suit your level.

FBS also provides videos and articles on its platforms in order to help you understand trading. There’s also a glossary of the main terms on trading that you should familiarize yourself with. FBS is also providing future seminars in some countries that you can attend as well.

And in case if you want to trade without any risk, you can use a demo account to trade with 0% risk and familiarize yourself with the platform.

FBS Education

Does FBS allow bot trading?

Yes, it does allow bot trading.

Does FBS provide an islamic account?

You can choose any of the swap free accounts like the Cent, Micro, Standard, or Zero spread accounts. All of the previous accounts have an option of swap-fee.

Does FBS give a bonus?

Yes, it has up to $140 as a welcome bonus.

Does FBS allow scalping?

Yes, FBS does allow trade with scalping.

What is an FBS Trader?

It’s a mobile trading platform for FBS broker that’s available on both Android and IOS.

Can I open more than one trading account?

Yes, you can open up to 10 accounts of each type within one Personal area if 2 conditions are accomplished:

1. Your Personal Area is verified
2. The total deposit to all your accounts is $100 or more.

How to enable the swap-free option in my account?

Steps:

1. Open your account
2. Activate the swap-free feature
3. Trade and get profit