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FBS

FBS Review
Trader's rating 4
Editor's rating 4.4

Trading Accounts

Account type Minimum deposit Minimum trade size Maximum leverage Average Spreads
Cent $1 0.01 lot 1:1000 2 pips
Standard $100 0.01 lot 1:3000 0.9 pips
Zero Spread $500 0.01 lot 1:3000 0 pips + $20/lot
ECN $1000 0.1 lot 1:500 from -1 pip + $6/lot

 

While most brokers provide several account type options, Clients of FBS are offered a choice of four. All of them offer market execution and the chance to trade in micro lots in Cent account for more precise risk management. Besides, FBS’s clients may choose between 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.

 

Keep in mind that this broker does not provide financial services to residents of Belize, USA and Russia.

 

The Company. Security of Funds

 

Company

Country

Regulation

FBS Markets Inc.

Belize

IFSC

Tradestone Limited

Cyprus

CySEC

 

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).IFSC has very liberal control over forex brokers, but still, the regime in Belize is far better than those in other offshore jurisdictions.

 

In 2017 FBS, undertook an important step and got licensed in one of the most popular destinations for forex brokers – Cyprus. Its EU entity Tradestone Limited operates under the regulatory oversight of the Cyprus Securities and Exchange Commission, a.k.a. CySEC.

 

Forex brokers licensed by CySEC must comply with a number of requirements regarding capital adequacy, transaction reporting, clients’ funds segregation, AML policies, etc. Besides, all licensed entities are members of the Investor Compensation Fund, which may cover a maximum of 20,000 EUR per person in the event of broker insolvency.

 

Furthermore, under the MiFID regulations every CySEC-regulated ibroker is entitled to operate throughout the EU and the EEA.  

 

Trading Conditions

 

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 ECN account type. Spreads on ECN account start from -1 pip (negative spread) and the commission is just $6 per lot.

 

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.

 

Maximum Leverage

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.

 

Trading Platforms

 

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.

 

Promotions

FBS runs a variety of promotions. At the time of writing this review the following bonuses are available:

 

- 100% bonus for deposit;

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 $7 per lot.

 

Methods of Payment

 

FBS offers its clients a wide range of payment methods: credit cards (Visa, Visa Electron, Mastercard), bank wire, Skrill, Neteller, Perfect Money, OKPAY, YuuPay, LaoForexBoard, FBS Asia Exchanger.

 

Conclusion

 

FBS appears to be a decent broker, who has operated for more than 9 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:

 

Pros Cons
   
Variety of platforms, MT4 available  No significant disadvantages
Competitive spreads (especially on ECN accounts)  
Low minimum deposits required  
Variety of promotions  
ECN/STP environment available  

 

Headquarters:  Suite 5, Garden City Plaza, Mountain View Boulevard, BELMOPAN, Belize, C. A.

Country: Belize 

Regulated by: IFSC, CRFIN

Website: www.IdnFBS.com

Bonus:

$5 no deposit bonus!
Open an account and get $5! No deposit required! 

100% Bonus
Get 100% on all deposits

FBS deposit insurance!
With FBS you can be sure that in case you lose your deposit FBS will return it!

FBS MasterCard
Try out advantages of deposit and withdrawal anytime and anywhere with your FBS MasterCard

Super Trader Contest for real accounts
Unlimited prize fund! 30 traders get 10$ for each traded lot and super gadgets.

FBS Pro Demo Contest 
Become a real professional of Forex Market. Prize fund: $1000 each month. 

Bonus for IB 
Every IB gets real funds for every real client acquired.


iPartner
Acquire clients, get points and win super prizes from FBS!

Share your secret of success

If you increased your Bonus $5 10 times and more, share your secret of success and get $7 from FBS!

Self-rebate

Trade with FBS and receive up to $ 15 per transaction additionally!
 

Awards:
 
2015 - Best ECN/STP Forex Broker
2015 - The Best Broker Insurance & Service. Excellent of The Year. 
2014 - Best Broker in Southeast Asia (Forex Report Awards by World Finance)
2014 – Best Broker Asia Pacific (International Finance Magazine)
2014 – Best Forex Brand Asia (Global Brands Magazine) 
2013 - Best Partnership Program (Masterforex-v)
2013 - Best Trading Platform (China Finance Online) 
2013 - Best Forex Broker South-East Asia (World Finance)
2013 - Best Broker in Asian Region (Forex Expo)
2012 - Best MT4 Platform (9th China (Guangzhou) International Investment & Finance Expo)
2012 - Best Forex Broker Asia (World Finance Awards)
2012 - Fastest Growing Forex Broker Asia (Global Banking and Finance Review)
2011 - Best Mini Forex Broker (World Finance Awards)
2010 - Best Mini Forex Broker (ShowFX World)
 

 

Forex.com US

Forex.com US Review
Trader's rating 4.8
Editor's rating 5

 

Trading Accounts & Conditions

 

Account type Min. deposit Min. trade size Max. leverage Average Spreads
Standard $50 0.01 1:50 1.4 pips 

 

Leading US broker Forex.com offers a single account type on several trading platforms. The broker provides commission-free trading with variable spreads and the option to use micro lots.

 

In addition, Forex.com offers swap-free accounts to investors of Islamic belief, as well as free demo ones for 30 days after sign up.

 

 

Forex.com (US) Advantages

 

Regulated in the US and other countries

Forex.com belongs to the Gain Capital group. Gain Capital meets high standards of corporate governance, financial reporting and disclosure. The parent company of the major FX brand Forex.com, GAIN Capital Holdings, Inc. (NYSE:GCAP)  is a registered Futures Commission Merchant (FCM) and Retail Foreign Exchange Dealer with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA).

 

Besides, its subsidiaries are properly licensed in the countries of their operation: 

 

Company Country Regulation
GAIN Capital Group, LLC USA NFA, CFTC
Forex.com UK Limited UK FCA
GAIN Capital FOREX.com Australia Pty Limited Australia  ASIC
Forex.com Canada Limited Canada  ILLROC
GAIN Capital Group (Hong Kong) Limited  Hong Kong SFC
GAIN Capital Japan Ltd.  Japan FFAJ

 

Apart from Forex.com, Gain Capital Group is operating the brands City Index, GTX, Gain Capital, FinSpreads, and others.

 

The largest broker in the US

Not only that Forex.com is regulated in the United States, but it is actually the largest forex broker in the country. After FXCM has left the US market, Forex.com became the undeniable leading provider of financial services in the US.

 

Actually, a very few brokers have remained active on the strictly regulated US market: Oanda, Interactive Brokers, and TD Ameritrade.

 

Competitive spreads

Forex.com offers commission-free trading with variable spreads, the average ones on EUR/USD amounting to 1.4 pips, which is a rather competitive pricing. By comparison, the cost of trading at Oanda, another US broker, is exactly the same.

 

Low minimum investment required

In order to open an account with Forex.com, one has to invest just $50. Almost everyone can afford such an investment.

 

Several top-notch trading platforms available

Leading US broker Forex.com offers a single account type on several trading platforms. The broker provides commission-free trading with variable spreads and the option to use micro lots.

 

Actually, this piece of trading software is as sophisticated and customizable as the MT4. Its professional-grade trading tools include top-notch interactive charting with more than 100 predefined indicators, as well as the option to create some of your own. There are also a number of Integrated trading strategies, which are also customizable. Besides, users can code their own trading strategies (in C++), there is a back-testing excel tool available, and signals trading. Here is a snapshot of the platform:

 

Click on the image to zoom-in.

 

Some of the new functionalities of the platform after a recent update include powerful charts with integrated one-click trading, smart trade ticket with advanced risk management option, pre-defined and customizable layouts, and more. 

   

Various payment methods, fast withdrawals

Yet another thing we like about Forex.com (US) is the fact that it support several convenient payment methods, and namelY Debit Card, Wire Transfer, ACH and Checks. What is even more important from a client's point of view, withdrawals are processed pretty fast – within 48 hours.

 

Bonuses available

Last but not least, Forex.com (US) offers cash rebates for high volume traders. The latter are able to get rebates up to $10 per million traded. 

 

 

Forex.com (US) Disadvantages

 

Leverage capped to 1:50

Actually, this is not a weak side of the broker itself, but a legal requirement in the US. Brokers operating in the country are not allowed to provide leverage of more than 1:50, and Forex.com simply complies with the regulatory requirements. 

 

 

Conclusion

 

Forex.com (US) is the largest US broker and one of the few actively operating in the country. A market leader offering trading in more than 80 forex pairs and CFDs, it has serviced over 200,000 customers globally.

 

The US broker is a part of the Gain Capital group – a leading forex brokerage with global presence. All members of the Gain Capital family are duly regulated by the respective governmental agencies, including Forex.com (US). It is registered with the CFTC and a member of NFA. US regulation is one of the strictest, which is a good thing in terms of investor protection, however some of the rules imposed are considered too restrictive.

 

For example, Brokers registered with the NFA are required to maintain a net capital of at least $20 million to guarantee customers’ positions, which is the highest minimum capital requirement worldwide. Moreover, hedging is not allowed and leverage is limited to 1:50, as we already mentioned above.

 

Now, let’s sum up the strong and weak sides of Forex.com (US):

 

Pros Cons
A global leading broker Leverage capped at 1:50
Solid regulation  
Competitive spreads, commission-free  
Several trading platforms, including MT4  
Low min. deposit required  

 

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