FBS Review – Scam or Legit?
FBS is a Forex broker and international financial and investment service domiciled in Kuala Lumpur, Indonesia with branches in China and Malaysia. FBS has won many awards including the Best Forex Broker South-East Asia Award for years 2012 and 2013 from the World Finance Foreign Exchange Awards. In December 2013, FBS joined the non-profit self-regulated partnership “Centre for Regulation in OTC Financial Instruments and Technologies” (CRFIN) and is in full compliance with the rules of membership.
Minimum Deposit: $1.00
Maximum Leverage: 1:2000
Languages: English, Bahasa Indonesia, Bahasa Malyasian, Russian, Spanish, Portuguese, Arabic, Turkish, Vietnamese, Bengali, Lithuanian, Korean, Chinese, Sri Lankan, Thai
FBS offers five different trading accounts. The Cent account requires a minimum deposit of $1 and allows you to gain the necessary trading experience on the real account with minimal risks. You can trade using any robots and strategies without any restrictions. Leverage is 1:1000 and there is a floating spread.
The Micro account has a minimum deposit of only $5 and a leverage of 1:2000. Spreads are fixed at 3 pips. The minimum deposits for the Standard, Zero Spread and Unlimited accounts increase slightly till $500. The Unlimited account is an ECN account and is the closest to real market trading conditions. It has many possibilities and freedom of action for professional traders.
Floating spreads start from 0.2 pips and fixed spreads from 0 pips. A segregated account is also available with FBS whereby 70% of your funds can be stored in a personal bank account where the funds receive a safety guarantee. This allows you to deposit only 30% of your total monies while trading 100% of it in unlimited trading conditions.
In addition, there is a demo account for traders who are just starting out in Forex. All you need to start trading is to select one of the trading accounts and define an initial account balance. You can practice your trading in the FBS demo account with virtual funds without the risk of losing any of your money. Since a time frame for the use of the demo account was not indicated, I assume one can use it for an unlimited amount of time.
An interesting feature is their advanced analytical portal FX BAZOOKA project which has been acknowledged as “The best media resource” according to the results of Forex Expo international exhibition, 2013. The project offers Forex news and analytics, trading signals, training, regular reviews and more.
FBS uses the Meta4 trading platform which is the most popular platform in the world for trading in Forex, CFD, futures and stock markets.