|Account type||Minimum deposit||Minimum trade size||Maximum leverage||Average Spreads (& Commission)|
|Micro||$5||0.01||1:3000||3 pips, fixed|
|Zero Spread||$500||0.01||1:3000||0 pips, fixed + $20/lot|
While most brokers provide several account type options, Clients of FBS are offered a choice of five. All of them offer market execution and the chance to trade in micro lots for easier risk management (except the Unlimited account). Besides, FBS’s clients may choose between fixed and variable spreads, commission-free trading and zero spread plus commission.
In addition, FBS provides swap-free (Islamic) accounts as well as VIP Services. STP/ECN environment is also available with this broker.
The service that we like the most about FBS is the deposit insurance (available for Cent, Micro, Standard account types), which helps you to insure between 10% and 100% of your deposit – as long as you have traded a certain number of lots, the broker pays you back the insured amount in case you lose it. This way you can stop worrying about your investment, and can focus on making some dough instead.
Keep in mind that this broker does not provide financial services to residents of Belize, the USA and Japan.
FBS Markets Inc.
Established back in 2009, FBS is now a popular international broker which has won numerous awards. It offers its clients competitive trading conditions, wide range of trading accounts, payment methods, a choice of fixed and variable spreads, Metatrader 4 and MetaTrader 5, as well as various promotions.
Behind the brand is FBS Markets Inc., a company licensed and regulated by the International Financial Services Commission of Belize (IFSC).
Unlike UK’s FCA and other financial watchdogs, IFSC has very liberal control over forex brokers. Belize is a famous offshore destination for financial service providers, where the regulation and licensing requirements are looser compared to other jurisdictions. Last year, however, the regime in Belize tightened - IFSC increased the initial minimum capital requirement for financial and commodity-based derivatives brokers from $100,000 to $500,000. Besides, the Commission has also increased the annual license fee from $5,000 to $25,000.
So, regulation in Belize is better than the one in the St. Vincent and the Grenadines for example, where brokers follow simple registration procedure and don’t have to comply with any requirements as regards minimum capital or segregation of client’s’ funds. Still, investing in companies registered in offshore zones is risky and if you intend to invest a large amount of money, we would advise you to select a broker licensed in EU or Australia, for example.
Minimum Initial Deposit
One may open an account with FBS with just $1 – a symbolically low initial amount. In comparison, FX Choice (which also holds a license from IFSC) requires at least $100 as a minimum for opening an account, but it offers pure STP/ECN environment.
Average spreads & Commissions
According to us, the best spreads of FBS are offered on the Standard and Unlimited account types. Spreads on these accounts are averaged 0.9 and 1.1 pips on EUR/USD respectively and no commission fees apply.
In comparison, Fx Choice offers typical spreads amounting to 0.5 pips on EUR/USD, and commission of $3.86 per lot applies. For further information, you may look up real-time spreads of 15 leading brokers here.
The maximum leverage levels available with this broker are among the highest in the industry, reaching 1:3000. While this may sound attractive, especially to traders on a small budget, since it allows them to operate with significantly higher amounts, keep in mind that higher leverage involves greater risk.
We advise traders to exercise caution when using higher leverage levels, in this case – to benefit from the deposit insurance option, provided by FBS.
FBS provides its clients with a choice of two trading platforms: Metatradeer 4 (MT4) and MetaTrader 5 (MT5). Both platforms are offered as desktop, web and mobile versions.
MetaTrader 4 is the most popular forex trading platform. Equipped wirth a number of technical indicators, advanced charting tools, extensive back-testing environment, and a wide range of Expert Advisors (EA), it is preferred by most traders. allowing clients to fully automate their trades. MT4 comes in desktop, and mobile versions.
As most MT4’s indicators and Expert Advisors (EA) are not supported on the MT5 platform, the latter is still in the shadow of its predecessor. Recently, however, a number of enhancements were made to the MetaTrader 5 and the hedging option was finally added to it and it gains popularity. What is more, Russian developer MetaQuotes announced it will no longer issue updates to the MT4 and will instead concentrate on the MT5.
More brokers using the MT5 can be viewed here.
FBS runs a variety of promotions. At the time of writing this review the following bonuses are available:
- $100 deposit welcome bonus;
- Bonus $123 for 7 days;
On the first day of each month, you will be able to withdraw as much profit received on the bonus funds as many lots you have traded within the previous month x3.
-Cashback program, allowing traders to receive up to $15 per lot.
FBS offers its clients a wide range of payment methods: credit cards (Visa, Visa Electron, Mastercard), bank wire, Skrill, Neteller, WebMoney, Perfect Money, OKPAY, YuuPay, LaoForexBoard, FBS Asia Exchanger, Zaw Forex Service.
Despite its looser regulation, FBS appears to be a decent broker, who has operated for more than 6 years and has won many awards. It offers reasonable conditions for trading in a variety of products through different platforms. Here are, in a nutshell, the advantages and disadvantages of FBS:
|Variety of platforms, MT4 available||Liberal regulation|
|Competitive spreads (on Standard & Ultimate accounts)|
|Low minimum deposits required|
|Variety of promotions|
|ECN/STP environment available|
FXTM is a EU regulated forex broker, offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $1 and take advantage of tight fixed and variable spreads, 1:1000 leverage and swap-free accounts.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
Grand Capital is a MT4 forex broker, offering $500 no deposit bonus and 40% bonus on all deposits.
Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
|Cyprus||CySec||MT4, MT5, Web||$5||Review Website|
|US, UK, Australia||CFTC/NFA, FCA, ASIC||MT4, Web,
|UK, Australia, Singapore||FCA||MT4, Web,
|UK, Cyprus||FCA, CySec||MT4||$5||Review Website|
|UK, Cyprus||FCA, CySEC||MT4, MT5, Web,
|UK, Bulgaria||FCA, FSC||Web||$150||Review Website|
|Belize||IFSC||MT4, MT5||$100||Review Website|
|Cyprus||CySEC||MT4, MT5||$300||Review Website|
|New Zealand||FMA||MT4||$1000||Review Website|