FBS Forex Review
The foreign exchange market (Forex) is the largest and most liquid market in the world, handling vast amounts of money each and every day. The foreign exchange (Forex) markets were established because of the possibility of making a profit from massive volumes of movement. There has been a period of time during which the retail trader has been unable to access these markets. However, there are now products available that enable the average investor and trader to obtain exposure to the foreign exchange market. There are a number of brokers currently available on the market that make it possible for retail traders to access the market; however, the focus of this article will be on FBS Forex.
What exactly is the FBS Forex?
FBS Forex is an online foreign exchange broker that provides clients with the opportunity to trade on the Forex market and acquire exposure to it. They make it quite apparent, both how to open an account and the different types of accounts that are available, on the polished landing page that they provide. In addition to that, they continue by discussing the advantages of working with them as a broker. On the page devoted to information about the company, it is stated that “FBS is an international broker with presence in more than 190 countries.”
The first impression that we get is that FBS is a reliable firm; however, we won’t know for sure until we get further into our investigation of the organization.
Is It Safe to Trade Forex with FBS?
Reliability with a broker is of the utmost significance because if you are attempting to amass wealth, you want to know that your money is secure and that you will have access to your cash in a timely manner. If you do not have reliability with a broker, you should not attempt to amass wealth. However, in general, you want the broker to be regulated and to have precise information on the management of finances as well as client services. Reliability may vary significantly from person to person, but in general, you want the broker to be reliable.
As was noted, FBS Forex has expanded its operations to over 190 nations and states, and it now serves more than 12 million traders. Examining one’s accomplishments is one strategy that can be utilized to acquire a possible comprehension of dependability. FBS has racked up a number of accolades, including “Best Customer Service Broker Asia 2016,” “Most Transparent Forex Broker 2018,” and “Best Investor Education 2017,” among others.
There does not appear to be any regulatory licenses listed on their website, which is a notable omission. In spite of the fact that this does not necessarily constitute an outright failure, it is important to keep this in mind if you decide to proceed with this particular broker.
Promotions & Bonuses Offered by FBS Forex
The fact that new traders have the opportunity to potentially earn additional money through the usage of bonuses and promotions makes for an effective method of attracting new traders.
$100 Bonus
Although the $50 deposit incentive is no longer available, it did provide you with the opportunity to earn an extra $50 on top of your initial investment. You would start by completing the necessary form, making a request for the bonus, and then moving on to trading with the additional funds gained from the bonus. In place of the previous bonus of $50, FBS is now providing their customers with the opportunity to win $100.
Refund in Cash
The cash back program offered by FBS is yet another perk for the company’s customer base. The cash back is capped at $15 per lot and the promotion period is unlimited. While the initial set up page appears to be no strings attached, you’ll want to look at the full terms and conditions before accepting. At the time of this article, the full list of terms and conditions were not accessible.
100% Deposit Bonus
One of the more popular bonuses on the market today is a 100% deposit bonus. On the bonus page, it simply states you fund your account, get the bonus and continue trading. However, the same situation with the cash back bonus, the specific terms and conditions were unavailable.
Before you enter into one of these bonus structures, you’ll want to ensure there are no restrictions on withdrawing your funds, as some make you keep a percentage of your deposit in the account until certain criteria are met.
Leverage 1:3000
Before moving forward with leverage, it is important to understand that a leveraged account is extremely risky and you may lose more than you initial investment. To open this feature or bonus, you’ll need to open a Standard or Zero Spread account. From there, you can deposit $10 and trade as if you have $30,000. The promotional period is unlimited and is under the category of trading feature.
Types of Accounts
Now that you have an understanding of the value you can earn beyond your initial investment, it’s time to understand the various account types.
Standard Account
The first account up for review is the Standard Account, which states it’s for “experienced market players making their way to Forex heights”. This account requires an initial deposit of $100. After that, the spreads range from 0.5 pips to 1:3000, the order volume ranges from 0.1 lots to 500 lots, and the maximum leverage is 1:3000.
Cent Account
The second choice is the FBS Cent Account, which “ideally matches people who are just beginning out on their journey to success on Forex,” according to the company’s website. The minimum deposit to open this account is merely one dollar, and spreads start at just one pip. Order volume ranges from 0.01 cents to one thousand cent lots, and your maximum leverage is 1:1000. It is important to keep in mind that even with a small initial deposit amount, you may have more buying power if you use leverage.
Low-Stakes Account
The next type of account available is called the Micro Account, and it is described as being “perfect for people who want to calculate their profit exactly.” The minimum deposit required to open a Micro Account is $5, and the spread for micro accounts is always a set 3 pips. You have the opportunity to leverage up to 1:3000, and the order volume ranges from 0.01 to 500 lots. Again, with such a large ratio of leverage, you run the risk of swiftly putting your account into the red.
Zero Spread
It is possible that the Zero Account, which was “Designed for people who love trading at the fastest speed,” is right for you. You will be able to receive a fixed spread of 0 pips, an order volume ranging from 0.1 to 500 lots, and leverage of up to 1:3000 with an initial deposit of $500. If you have enough money, the attractive spread may make it beneficial for you to open this account.
Account on the ECN
“for those who want to enjoy the full potential of trading with ECN technologies,” is the target demographic for the ECN Account. Requirements include a $1,000 deposit and you’ll get spreads from -1 pip. You have the ability to leverage up to 1:500, and order amounts range from 0.1 to 500 lots.
CopyTrade Is Available to Investors
You have the opportunity to sign up for the CopyTrade account designed just for investors if you are one. If your trading strategy turns out to be successful, you have the opportunity to make more income by enabling other people to replicate it and trade on your behalf. By logging in with this account, you will have access to a wealth of information pertaining to traders, as well as the option to assemble an individual investment portfolio.
CopyTrade for Traders
You can define criteria for how you wish to be replicated by logging into your existing account on CopyTrade, which is quite similar to how the CopyTrade for Investors works. If you are already a profitable trader, the logic behind this proposition is that you should consider allowing other people the opportunity to profit alongside you while simultaneously earning a commission. You will be required to download an app, and the app will only work with MT4 Standard and MT4 Micro accounts.
What are the Procedures for Making a Deposit and a Withdrawal?
Take a look at the list of possible depositing accounts on their drop-down menu before you attempt to make a deposit or request a withdrawal. Even though there are a lot of them, each one follows its own set of rules regarding when funds will be made available. This is essential because, if you intend to use this account to move money, you will need to ensure that the wait times are compatible with your financial plan and investing strategy.
The withdrawal process operates in a comparable manner in that a number of different options are available. When it comes time to relocate or alter finances, you’ll need to make sure you look into the various wait periods and expenses involved with each option. You’ll need to plan for this ahead of time.
Assets to be Used in Trade
Forex
Forex items are one of the most important assets you have access to, which you might already have guessed. FBS provides a wide variety of different pairs, and specific information about each one can be found on the product page of their website. You will then be able to examine the normal spread, swap long, swap short, and stop level from that point on. When looking at the different Forex pairs, these are key data points to consider.
Metals
You may also trade metals on FBS, and some of the metals you can trade are palladium, platinum, and XAGUSD. You can search their product website for typical spreads, swap long, swap short, and stop level information, which is analogous to the data points that Forex provides.
CFD
CFDs, which allow you to have exposure to the underlying asset without the requirement of owning the underlying asset, are another popular product that many brokers offer. CFDs have become increasingly popular in recent years. BRN, DAX30, and WTI are examples of some of the markets that can be traded using a CFD. There are derivative products available, and the only thing that guarantees their value is the reliability of the financial institution that is selling them.
Others
If you find that you are interested in venturing into the world of cryptocurrencies, then FBS can also assist you with that. A few of the options include Bitcoin, Dash, and Ethereum, and doing business with them will let you to acquire exposure to a market that is rapidly expanding. The product page provides access to a variety of data points on these assets, including spread and stop levels, amongst others.
FAQ
What kinds of trading platforms does FBS offer support for?
MetaTrader 4/5, MetaTrader WebTrader, MetaTrader Mac, CQG.
What is the lowest amount that must be deposited into an FBS account before it may be opened?
1 USD.
The Function of the FBS Copy Trade
If you were choosing a sports team to follow, this would function in a similar way. You will need to create an account for yourself and give it permission to follow anybody you decide to follow in order to be able to do so. If, on the other hand, you want to be the trader that other people look up to and emulate, you will need to configure the relevant settings within your account and then go from there. You’ll get a commission for each person who decides to follow you.
Is There Really an FBS Bonus?
The incentives are for real, but you have to make sure you comply with all of the requirements for receiving them. A good many of the bonuses have wagering requirements that must be satisfied before any gains can be withdrawn. Before agreeing to accept a bonus, you should make sure that you have a clear comprehension of what the incentive entails.
Is FBS Legit?
The FBS platform appears to be reliable, but there is insufficient regulatory information available on the website. In spite of the fact that they have a papers website on which FBS Agreements and Risk Warnings are listed, there is no information regarding regulatory credentials. Even if this does not in any way indicate that FBS is a scam, it does indicate that you should conduct a little bit more research.
Is There a Regulator Over FBS Forex?
According to the information that is available on their website, the answer is no. Having said that, you might want to check into it to make sure that’s the case.
Is FBS a Reputable Foreign Exchange Broker for Traders in Thailand?
In general, it would appear that FBS is a reliable Forex broker based on a cursory examination; yet, in comparison to other brokers, they appear to have a few shortcomings. Check to see if you can get a demo account so that you can test out the broker and determine whether or not it will work for you. From there, find out about the regulatory standings of the company to secure the security of your money and personal information. Last but not least, the extraordinarily high leverage raises red flags, given that it can go as high as 1:3000 in some cases. Make sure you do your own research before opening an account with FBS; this will verify that the brokerage is the best option for your specific needs.