- Broker Score
Here at Free Forex Robot we offer reviews of popular and upcoming trading platforms. Today we are writing a FBS review for your reading pleasure.
FBS was established in 2009 by FBS Markets Inc. Even though FBS has been around for a number of years, compared to other brand name Forex brokers FBS is still relatively unknown. FBS is based in Belize, and has received various awards in the Forex industry, including being named the “Best Mini-Forex Broker” in 2010, and in 2012 was named the “Fastest Growing Forex Broker in Asia.”
FBS offers plenty of variety in their products, and this starts with their account plans, which are: Standard, Cent, Micro, Zero-Spread, and Unlimited. Their Cent and Micro accounts are typically used by beginners, with required minimum deposits being $1 and $5, respectively. While the Micro accounts is equipped with 1:3000 leverage, the Cent account comes with 1:1000 leverage.
The difference between these two accounts lies in the spreads, Cent accounts come with floating spreads starting at just 1 pip while the Micro account has fixed spreads beginning at just 3 pips. The other accounts require minimum deposits of $100 and $500. Again, the only real difference between these accounts is also the spreads.
But all-in-all, because of their account diversity and low deposit requirements, FBS is the perfect broker for investors trading with small capital. Also, all new Cent accounts come with bonus deposits of $123 – you won’t find a better deal.
FBS offers MetaTrader 4 and MetaTrader 5 trading platforms, which are each compatible with Windows, Android and iOS mobile apps. Apart from this, they also have a web-based MT5 online platform.
Just because their a young broker doesn’t mean their customer service is bad. FBS’s customer support team is timely and helpful. Assistance can be reached 24/5 through live chat, email, or by telephone. They have customer support representatives available in 12 different Asian languages and 4 European languages.
Pros and Cons
- Very attractive bonuses and promotional offers
- Requires the lowest possible minimum deposits
- Risk-free deposit insurance
- Ability to trade with up to 1:3000 leverage
- Very tight fixed and floating spreads
- Do not offer much educational material
- Limited to MT4 and MT5 trading platforms