FBS vs FxPro - 2022 Comparison | FX Scouts
AuthorBy Björn Michels
Updated: August 29, 2022

Trading with a reputable online broker is a crucial factor for success in the international markets. At FX Scouts, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

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Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.23/ 5 USD 1CySEC Regulated BrokersASIC Regulated Forex BrokersFSCA Regulated Forex BrokersInternational Financial Services CommissionSTP, ECN/DMACryptocurrencies, Energies, Stock CFDs, Forex, Indices, Metals37100
  • Tight spreads
  • Low minimum deposit
  • Excellent education
  • Excellent market analysis
  • Limited range of assets
  • Extreme leverage
Read Review 111104/ 5 11110.54.5/ 5 11110.54.5/ 5 111003/ 5 11110.54.5/ 5 11110.54.5/ 5 11110.54.5/ 5 76%3000:10.70 pips Cent, Crypto, ECN, Micro, Standard, Ultra, Zero Spread MT4, MT5Visa, Bank Transfer, Skrill, Neteller, SticPay, PerfectMoney6 USD / lot - ECN Account
11110.54.29/ 5 USD 100FCA Regulated BrokersCySEC Regulated BrokersFSCA Regulated Forex BrokersDubai Financial Services AuthoritySecurities Commission of the BahamasMarket Maker NDDCryptocurrencies, Energies, Stock CFDs, Forex, Futures, Indices, Metals7030
  • Well regulated
  • Great platform choice
  • Tight spreads
  • Limited education
Read Review 111104/ 5 11110.54.5/ 5 111115/ 5 111115/ 5 1110.503.5/ 5 1110.503.5/ 5 11110.54.5/ 5 71.58%200:10.40 pips FxPro cTrader, FxPro MT4, FxPro MT5, Islamic, ProEdge MT4, MT5, cTrader, FxProEdgeBank Transfer, Mastercard, Visa, Unionpay, Paypal, Neteller, Skrill9 USD / lot

How do FxPro and FBS stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

FBS

FxPro

At FX Scouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare FxPro and FBS, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does FxPro or FBS have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that FxPro holds one Tier 1 and two Tier 2 licences, and FBS holds one Tier 1 and one Tier 2 licences.

 

Can I trust FxPro?

Yes as FxPro was founded in 2006 and is regulated by CySEC, DFSA, FCA, FSCA and SCB.

 

Can I trust FBS?

Yes as FBS was founded in 2009 and is regulated by ASIC, CySEC, FSCA and IFSC.

 

Based on these findings, FxPro earned a higher trust rating than FBS.

Does FxPro or FBS have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that FBS has overall lower trading costs than FxPro. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
FBS
11110.54.5/ 5
EUR, USD
0.80 pips
USD 7
0.70 pips
1.20 pips
1.30 pips
USD 0
FxPro
11110.54.5/ 5
USD, GBP, EUR, AUD, CHF, JPY, PLN, ZAR
1.40 pips
USD 14
0.40 pips
1.00 pips
0.60 pips
USD 0

 

Does FxPro or FBS offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, FxPro offers support for cTrader, MT4, MT5 and FxProEdge and FBS offers support for MT4 and MT5. 

Do the brokers offer copy trading?

Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both FBS and FxPro offer copy trading.

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Broker
Platform Choice
Copy Trading
Platforms
FBS
11110.54.5/ 5
FxPro
111115/ 5
FxProEdge

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that FxPro offers a greater range and depth of instruments to trade than FBS. FxPro offers 70 Forex pairs to trade and FBS offers 37 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, FBS offers 100 cryptocurrencies while FxPro offers 30 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with FBS.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that neither FBS nor FxPro charges a withdrawal fee. Overall, FxPro has better deposit and withdrawal processes than FBS. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

FBS and FxPro both have moderate educational support. FBS offer educational support for more experienced traders and FxPro does not.

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
FBS
Medium
FxPro
Medium

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that FBS offers better research analysis than FxPro and that both FBS and FxPro offer frequent webinars.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
FBS
FxPro

 

Our overall Verdict on FxPro

One of the most respected Forex brokers in the industry, FxPro is well regulated and has a much larger client base than most other brokers, with over 870 000 clients in 173 countries. FxPro offers a no-dealing desk execution model and trading on six asset classes, including Forex, shares, indices, futures, metals, and energies.  

FxPro offers five live accounts, all with a minimum deposit requirement of only 100 USD, but trading costs that are higher than other similar brokers.  Spreads start at 1.41 pips (EUR/USD) on its Metatrader accounts and 0.31 pips on its cTrader account in exchange for a commission of 9 USD round turn.  Additionally, FxPro offers very little in the way of education and market analysis materials, making it a poor choice for beginner traders.  

With full support for MT4, MT5, cTrader, and the FxPro proprietary trading platform, traders have a wider platform choice than is typically available at other brokers. FxPro allows hedging, scalping, and algorithmic trading on all platforms except its own. FxPro also offers a number of trading tools, including free access to Trading Central, a number of calculators, and a VPS service at an additional cost, which is in line with what is offered at other brokerages. 

Our overall Verdict on FBS

FBS is a well-regulated international broker with a wide range of accounts, including a dedicated crypto account and a low-cost entry-level account, over 100 cryptocurrency pairs, and an easy-to-use mobile trading app. However, Nigerian traders should be aware that even though FBS is regulated by some top-tier authorities, they will be onboarded through FBS’ Belize-based entity, which provides less regulatory oversight. 

Other drawbacks are the high trading costs on its Micro, Crypto, and Zero accounts, and the high withdrawal fees. Beginners should also be wary of the high leverage available on some FBS accounts, without proper risk management high leverage can quickly wipe out smaller accounts. Otherwise, FBS provides a welcoming environment for beginner traders, with an excellent selection of educational and market analysis materials, and 24/7 customer support.

Which broker has the highest overall rating?

FxPro has an overall rating of 4.29 and FBS has an overall rating of 4.23. For more detail please read our reviews of FxPro and FBS.

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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