FBS Review – A Somewhat Decent Platform For Beginners!

Let me say right off the bat that FBS is a legitimate trading platform. This is an award-winning International Forex broker that’s been around since 2009. 

They started in Belize and expanded their operations to Cyprus and other parts of the world. 

Their awards were mostly centered about being the most transparent broker and having the best customer service possible. 

These committees you see listed here do not give out awards on a whim, so for FBS to earn them means that they’re doing something right. 

And yes, these are legitimate committees that do way better research than any other third-party site out there. The FBS is regulated by European financial authorities, so that also adds to their legitimacy.

However, we were disappointed that we were unable to find out who the owners of the company are. There are a few spokespersons in their videos here and there, but none of them are the owners.

FBS has you opening a Live Account if you want to join the platform. You’ll be required to enter all the required information then click on the Open an Account button. 

You’ll be sent a one-time password via email to verify your account. 

Here’s the catch though. There are 6 international accounts made available to you, but unfortunately, EU clients can only access the Standard Account. 

These are their account types: 

1. Cent Account - This is designed for beginners who want to try their hand in live trading. They can open an account with a minimum of $1 opening balance. 
2. Micro Account - This account is for traders who want to calculate their exact profits. This starts with a $5 opening balance. 
3. Standard Account - This is the regular account and is opened with a $100 minimum balance. It’s 100GBP for EU clients. 
4. Zero Spread Account - This account is meant for fast speed traders
5. ECN Account - This account is for traders who want to try out the ECN technology on FBS. 
6. Demo Account - This is a demo account that simulates actual trading minus the risk of real money.

The various accounts can cater to a trader’s different needs, so there’s always going to be an account for you. 

Here’s another catch.

Even though FBS is a legitimate trading platform, they cannot operate in Japan, USA, Canada, UK, Iran, Myanmar, Brazil, Israel, and Malaysia. 

While you might think this is a big red flag, there’s actually an explanation for this. 

These countries have tighter financial regulations and might create issues with people trading over FBS. FBS might have had issues in acquiring licenses from these countries, and FBS is avoiding them for now. Note that these licenses are made to ensure that platforms such as FBS are not going to defraud their members. It just so happens that the countries listed above are stricter than the others. 

FBS Trading Platforms

FBS uses MT4 and MT5, both of which are products of MetaQuotes Software Corporation. They specialize in the creation and development of trading systems. 

MT4 was developed back in 2004 while MT5 was developed in 2010. The 2 platforms look alike but MT5 looks more recent and provides more features. 

These platforms are available on PC and MAC, and also on mobile devices. 

Other FBS Tools

You also have access to the following FBS tools if you have an account with them: 

1. Personal Area Mobile App - This is an app that allows you to access your demo and real accounts in one place. This also allows you to manage your personal profile, add or withdraw funds into these accounts, and more.
2. Economic Calendar - This is available on the MT5 platform and on the website. This will show you the time and date of events that impact the Forex market. You can use the calendar to make forecasts and informed decisions about trading. 
3. Currency Converter - This allows you to convert different currencies coming from the trading platform. You can use this tool to convert currencies based on the current rates. 
4. Forex TV - This is a weekly marketing insight to help you get a better idea of trading status for that week. 

FBS is meant for people who want to get into trading, but before they do, they should read the next few sections. 

#1 Does Not Operate In Large Markets

FBS does not operate in large markets, even though it’s regulated in the EU by the Cyprus Securities and Exchange Commission, and by the International Financial Service of Belize. The services they offer is legitimate, but they’re not able to operate in the large markets. 

We think this has something to do with compliance that FBS just can’t seem to meet.

#2 No Information On Who Owns The Company

We don’t know who the owner of the company is. Most of the legitimate trading platforms are transparent about who their owner is. But forr a company who’s been awarded for transparency, FBS does not tell us who owns it. 

Their marketing videos have a few hosts, but none of them are tied to being the owner, or management for FBS.

#1 Lots Of Tools For Trading!

FBS offers different tools for a minimum amount of investment, and as long as you open one of the 5 accounts with them. This makes it ideal for beginners to invest a few dollars into the program while still learning about the process before moving on to the bigger platforms. 

#2 Low Investment Requirement

FBS has you investing a couple of dollars, so you don’t really feel the need to invest a lot of money yet. It’s enticing but as you can see, they don’t operate in the large markets, so don’t expect to make a lot of money here as opposed to using the bigger platforms.

FBS is a legitimate trading and investment platform that’s been awarded multiple times for its transparency and customer service. But despite being awarded for transparency, they don’t let us know who the owners are. 

The investment capital is low enough that it should entice people to get into trading, but unfortunately, they don’t operate in the large markets (US, Japan, etc.) for compliance reasons, we suppose. 

If you feel like this is a good platform for you, feel free to check it out. If not, you can go check out IQOption and 24Option.