FBS Broker Review

Author By Jeffrey Cammack
Updated: May 11, 2022
Overall Rating
4.23 4.23 / 5
Rated #38 of 54 Recommended Brokers
🏦  Min. DepositUSD 1
🛡️  Regulated By
💵  Trading Cost 
⚖️  Max. Leverage3000:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments
AlertAccepts Nigerian Clients. Average spread EUR/USD 0.80 pips on trading account with lowest minimum deposit. Max leverage 3000:1. Islamic account available. MT4 & MT5 platforms supported. FBS is regulated by ASIC, CySEC, the FSCA, and the IFSC.

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Our verdict on FBS

FBS is a well-regulated international CFD broker offering trading on multiple assets, including Forex, metals, energies, indices, stocks, and over 35 cryptocurrencies, which is a larger range than is typically available at other brokers. 

FBS offers a range of accounts to suit traders of all experience levels and its trading costs are generally lower than other STP/ECN brokers. Spreads are fixed at 3 pips (EUR/USD) on its Micro Account, which is much wider than other brokers, but tighten to 0.8 pips (EUR/USD), and 0.1 pips (EUR/USD) on its commission-free and ECN accounts respectively.  

FBS offers full support for the MT4 and MT5 trading platforms, as well as its proprietary FBS Trader App.  In addition, FBS also has a copy trading platform and a free VPS service for clients that trade more than three lots per month and deposit over 450 USD.  

FBS provides a welcoming environment for beginner traders, with an excellent selection of educational and market analysis materials compared to other brokers. Nigerians will also benefit from a host of FBS sign-up bonuses, but payment methods are limited and withdrawal fees are high.   


111104/ 5
Trading Conditions
11110.54.5/ 5
Trading Platforms
11110.54.5/ 5
Deposit & Withdrawal
111003/ 5
Education & Research
11110.54.5/ 5
Assets Available
11110.54.5/ 5
Customer Service
11110.54.5/ 5
Beginner Friendly
Welcome Bonus

Account Information

Base Currencies
Number of FX Pairs
Crypto Pairs
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Account Name
Trading Desk
6 USD / lot - ECN Account
0.70 pips
1.20 pips
1.30 pips
Negative Balance Protection

Company Details

Company Name
FBS Markets Inc
Website Language
English, Portuguese, Indonesian, Malay, Vietnamese, Arabic, Hindi, Chinese, Spanish
Support Language
English, Portuguese, Indonesian, Malay, Vietnamese, Arabic, Hindi, Chinese
Office Locations
Malaysia, Laos, Thailand, Dubai, Brazil, Turkey


  • Tight spreads
  • Low minimum deposit
  • Excellent education
  • Excellent market analysis


  • Limited range of assets
  • Extreme leverage

Is FBS Safe?

Yes, FBS is a safe broker to trade with.

Founded in 2009, FBS is a Russian Forex and CFD broker with regulation from the Australian Securities Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) and the Financial Sector Conduct Authority (FSCA) in South Africa. Since its inception, it has grown to become one of the most popular brokers in the Asian market. 

Since 2017, FBS – via its subsidiary Tradestone Ltd – has been regulated by CySEC, and all European operations are now run from its regional HQ in Cyprus. Internationally, FBS is regulated by the International Financial Services Commission (IFSC) in Belize and has offices in a number of Asian countries, including China, Indonesia, South Korea, Malaysia, Thailand, and Myanmar. See below for a list of FBS’ regulated companies:

  • Intelligent Financial Markets Pty Ltd is regulated by ASIC, license number: 426359.
  • FBS Markets Inc is regulated by IFSC, license IFSC/000102/124; Address: 2118, Guava Street, Belize Belama Phase 1, Belize.
  • Tradestone Ltd. is authorised and regulated by the Cyprus Securities and Exchange Commission of the Republic of Cyprus, with company registration number 353534.
  • FBS Markets Pty Ltd is regulated by the FSCA in South Africa Licence number 50885.

In October 2020, researchers discovered a data breach on an unsecured server, ElasticSearch,  that left the confidential records of 16 million traders at FBS exposed.  Records included names, passwords, email addresses, national ID cards, bank statements, and credit card information, among other sensitive details.  The white hat hackers led by Wizcase found that the server was left open without any encryption or password protection, and that the information was accessible to anyone. It was uncertain how long the server had been unprotected before the discovery was made. FBS immediately secured the server, but this oversight could have led to scams, phishing, and other attacks on FBS clients.  Clients should therefore be very wary of sharing any confidential information over the phone or by email.

Nigerian traders will be trading with FBS Markets Inc, which is authorised and regulated by the IFSC in Belize. While the IFSC requires brokers to keep client funds in separate accounts and issue monthly statements to their clients, it does not require brokers to offer negative balance protection or restrict leverage to protect their traders.  

As such, FBS segregates all client money from its operating capital and issues monthly statements, but it does not offer negative balance protection to Nigerian clients. Additionally, FBS offers some of the highest leverage levels available at any broker – up to 3000:1 on some of its account types. It also only requires a minimum deposit of 1 to 5 USD on its commission-free accounts, which in combination with the high leverage makes it difficult to hold a substantial trading position without getting stopped out and losing the money in your trading account. On the whole, this is an irresponsible move on the part of the broker.  

It’s true that FBS is only regulated by two top-tier authorities (ASIC and CySEC), but it does segregate client funds from its own, has a long track record of behaviour, and provides monthly statements to its clients. Overall, FBS is considered a safe broker to trade with, but traders should be aware of the 2020 data breach, and proceed cautiously.

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Group Regulators
Trading Desk
Year Founded
Office Locations
Additional Fees
Malaysia, Laos, Thailand, Dubai, Brazil, Turkey

Trading Fees

FBS charges lower than average trading fees on most of its accounts.

FBS is unusual amongst brokers in that it offers five different account types, where most brokers will offer three or less. Trading costs vary depending on the account type chosen by a trader (Click here for more on FBS’ accounts).

FBS’ accounts were assessed to compare the costs to those of other brokers.  The costs were evaluated based on the trading fees on one lot (100 000 USD) on the EUR/USD, including the spread and commission. 

When making this calculation, we use one lot of EUR/USD as a benchmark as it is the most commonly traded currency pair and it usually has the tightest spread. 

Trading Cost Formula: Spread x Trade Size + Commission = Cost in Secondary Currency (USD):

FBS Accounts

As you can see from the table above, the costs on all accounts, except for the Micro and Zero Spread accounts, are lower than average for the EUR/USD.  The fixed spreads of 3 pips (EUR/USD) and the commission of 20 USD on the Micro and Zero Spread accounts respectively make the trading costs on these accounts extraordinarily high.  Traders should note that spreads are variable at FBS, meaning that they will get wider or tighter depending on trade volume and market volatility. 

Overall, spreads are tighter than average at FBS. The average cost for trading one lot of EUR/USD among similar brokers is about 9 USD per lot. As you can see from the table above, this is achievable on the Standard, Cent, and ECN accounts, but the ECN Account requires a minimum deposit of 1,000 USD. For more on FBS’ account types, click here.

Swap Fees

The other main trading cost to consider is the overnight swap fee. This is charged on trades held open overnight and is derived from the difference between the interest rates of the two currencies being traded. FBS’ swap rates are published on its website for each financial instrument. The trading terminal automatically calculates and reports all swaps on your open positions.FBS charges swap fees of 3.79% on the EUR/USD on a long position, and 0.59% on a short position.

Compared to other similar brokers, FBS’ ongoing costs are lower than average on most account types but are higher than average on its fixed-spread Micro Account and the Zero Spread Account.

FBS’ Non-trading Fees

FBS’ non-trading fees are average compared to other similar brokers.

While most deposit methods are free, FBS charges a fee for all withdrawal methods.  For example, traders are charged 1 USD for payments via credit cards. For more on FBS’ deposit and withdrawal methods and fees, click here.

However, unlike most other brokers, FBS does not charge an inactivity fee on dormant accounts.  

Overall, FBS’ non-trading fees are average when compared to other similar brokers.

Opening an Account at FBS

The account opening process is easy, hassle-free, and fast.

All Nigerian traders can open an account at FBS, but will need to meet all the minimum deposit amounts to do so, these are:

  • Cent: 1 USD
  • Micro Account: 5 USD
  • Standard Account: 100 USD
  • ZERO Spread: 500 USD
  • ECN Account: 1000USD

Opening a live account at FBS is easy and fast. While FBS also offers Corporate Accounts and Joint Accounts we will focus on opening an Individual Account:

  1. Initially, you will need to click on “Open Account” and register your name and email address.  
  2. Thereafter,  you will choose between a Real or a Demo Account.
  3. Next, you will have to fill in your full name, phone number, email address, and date of birth. You will also have to choose your base currency, platform (you have to first choose MT5, and will then have the option of opening an account on MT4), and leverage. For more information on FBS’ base currencies, click here.
  4. Once this step is complete, FBS needs at least two documents to accept you as an individual client:
    1. Proof of Identification – current (not expired) coloured scanned copy (in PDF or JPG format) of your passport.
    2. If no valid passport is available, a similar identification document bearing your photo such as an ID card or driving licence will work.
  5. Once this step is complete, you will need to make at least the minimum required deposit for your chosen account via one of FBS’ deposit methods. For more on FBS withdrawal and deposit methods, click here.
  6. Your documents will be checked by the verifications department within 48 hours. Any deposits will be credited to the account only after your documents have been approved and your personal area is fully activated.
  7. We advise you to read FBS’ risk disclosure, customer agreement, and terms of business before you start trading.

Overall, the account opening process at FBS is hassle-free and accounts are generally ready for trading in 48 hours. 

FBS Account Types

FBS offers more account types than most other brokers, which are suitable for both beginners and more experienced traders alike.

FBS offers five different account types suited to both beginner and experienced traders alike.  

Beginner traders are inexperienced traders who have never traded before, or who have been trading for less than a year.  Beginner traders often do not want to risk trading large sums of money and generally will not be able to trade full-time during the workweek.  Accounts with lower minimum deposits and which allow trading in micro-lots are generally more suited to beginner traders. However, spreads on these accounts are often wider than those with higher minimum deposits. 

FBS offers three beginner-friendly accounts with low minimum deposits, but wider spreads, including the Cent Account (with a minimum deposit of only 1 USD) which offers trading in micro-lots.

Experienced traders tend to prefer accounts with higher minimum deposits and tighter spreads.  FBS’ Zero and ECN accounts are more suited to experienced traders – with higher minimum deposits, tighter spreads, and a commission per lot traded.  

A hybrid STP/ECN broker, FBS offers five market execution accounts, three of which are commission-free standard trading accounts. The other two accounts have a commission per lot. Maximum leverage varies according to account, with leverage of 1:3000 available on the Micro, Standard, and Zero accounts, but limited to 1:500 and 1:1000 on the ECN and Cent accounts, respectively.  Hedging, scalping, and algorithmic trading are unlocked, and all accounts are available as Islamic swap-free options, except the ECN Account.  

FBS Account Types

Cent Account

Cent accounts are suitable for beginner traders and allow trading micro-lots. The initial deposit is 1 USD; floating spreads that average at 0.8 pips (EUR/USD), which is much tighter than at other brokers, and leverage is up to 1:1000. The Cent account supports the following trading instruments: 35 currency pairs, 4 metals, indices, and 33 stocks.  Trading is offered on the MT4 and MT5 platforms.

Standard Account

Standard accounts are commission-free accounts with a minimum deposit of 100 USD, variable spreads that average at 0.8 pips (EUR/USD), which is tighter than other similar brokers, and leverage of up to 3000:1.  The Standard account supports the following trading instruments: 35 currency pairs, 4 metals, indices, and 33 stocks.  Again support is offered for both MT4 and MT5.

Micro Account

Micro accounts are commission-free and have a minimum deposit of 5 USD. Spreads are fixed at 3 pips on the EUR/USD, which is wider than most other brokers, and leverage is up to 3000:1. The Micro account supports the following trading instruments: 35 currency pairs, 4 metals, and indices, and trading is offered on MT4 and MT5.

Zero spread Account

The Zero Spread account is perfect for those traders who prefer high-speed trading.  These are high commission accounts – at 20 USD per lot, making it unappealing for most traders.  Spreads are fixed at 0 pips on the EUR/USD, leverage is up to 3000:1, and the minimum deposit requirement is 500 USD.  The Zero Spread account supports the following trading instruments: 35 currency pairs, 4 metals, and indices.

ECN Account

The minimum deposit on the ECN Account is 1,000 USD, variable spreads start at 0.1 pips (EUR/USD), and a commission of 6 USD is charged per lot.  Maximum leverage on the ECN Account is up to 500:1, but ECN account holders can only trade on 25 FX pairs.  While the minimum deposit requirement is high, its ongoing trading costs are as low as those charged by other ECN brokers.  The ECN Account is the most suitable account for experienced traders.

Islamic Account

All accounts are available as swap-free accounts, except for the ECN Account.  Changing account status to Swap-free is available in the account settings only for the citizens of countries where one of the official (and dominating) religions is Islam, and includes Nigeria.

For long-term strategies where a position is held open for longer than two days, FBS charges a fixed fee for the total number of days during which the order was opened.  

Demo Accounts

FBS offers free demo accounts, allowing traders to test out the Forex strategies with virtual money, using real market data. Using a demo account is a good way to learn how to trade. Demo accounts expire after 40 days, after which time they are automatically deleted.  Clients can open a new one when this happens.

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Display Name
Min. Deposit
Max. Leverage
Min. Spread
Spread Only
Account Details
Account Details
USD 1000
6 USD / lot
Account Details
Fixed Spread
Account Details
USD 100
Spread Only
Account Details
Zero Spread
USD 500
20 USD / lot
Account Details

Overall, FBS offers more account options than most other brokers, and the varied choice makes it suitable for beginners and more experienced traders.  Additionally, the minimum deposit requirements are reasonable across most account options, and the ongoing trading costs are lower than average.  

Deposits & Withdrawals

FBS charges no deposit fees, but charges high withdrawal fees for certain payment methods.  It also offers an average range of funding methods.  

In line with Anti-Money Laundering policies, deposits and withdrawals at FBS cannot be made to/from third-party accounts.  FBS does not charge for making deposits to a live trading account, and it charges fees for withdrawals under certain conditions.  Additionally, the deposited amount will be converted into USD or EUR according to the current official exchange rate on the deposit execution day. Note that deposits made via electronic payment systems are processed instantly, and deposit requests via other payment systems are processed within 1-2 hours.

See below for a list of FBS payment methods:

  • Visa: Deposits are instant and free. Withdrawals take 15 – 20 minutes and may take as long as 5 -7 business days to reach your bank account. Withdrawals are charged at a 1 USD commission.
  • Local Bank Transfer: FBS allows deposits and withdrawals from and to banks across Africa.   A commission of 2% is charged by FBS on deposits and withdrawals, which is expensive considering this fee does not include conversion fees.
  • Skrill: Deposits are instant and free. Withdrawals take 15 – 20 minutes to be processed, and a commission of 1% + 0,32 USD is charged.
  • Neteller: Deposits are instant and free. Withdrawals can take 15-20 minutes to be processed, and a 2% minimum, and 30 USD maximum commission is charged.
  • Sticpay: Deposits are instant, but are charged at a 2.5% + 0.3 USD commission. Withdrawals can take up to 15 – 20 minutes to be processed, and a 2.5% + 0.3 USD commission is charged.
  • Perfect Money: Deposits are instant, but commissions may apply depending on the payment system. Withdrawals take 15 – 20 minutes to be processed, and a 0.5% commission is charged.

Overall, while FBS provides a wide range of funding methods, and deposits are generally free, withdrawals are expensive and all currencies are converted into EUR or USD and so most traders will have to pay currency conversion fees. 

Bonus Structure

FBS has a wide selection of promotions and bonuses advertised on its website. For example, the broker offers a 100% deposit bonus, which doubles the deposit available for trading. Please see the website for further details.

Base Currencies (Trading Account Currencies)

FBS has a very limited number of base currencies compared to other brokers, and does not offer trading accounts denominated in NGN.

Deposits to trading accounts can be made in most national currencies, which are subsequently converted into USD and  EUR. However, FBS does not support accounts denominated in NGN, which means that Nigerians will have to pay conversion fees on all deposits and withdrawals.  Conversion fees can make trading expensive, and affect profitability.

In this case, it is better for traders that trade in large volumes (more than 10 lots a month) to open an account denominated in USD at a digital currency bank, especially for trading on assets such as the EUR/USD. This is because when trading a USD quoted currency pair with an NGN account, there will be a small conversion fee for every trade made.

Overall, FBS offers fewer trading account currencies than most other large international brokers and doesn’t offer accounts denominated in NGN. 

Trading Platforms

FBS’ trading platforms selection is better than most other brokers, with MT4, MT5, and its own mobile trading platform – though this is only available on Android devices.   

FBS offers full support for Metatrader 4 and MetaTrader 5 in addition to its own customised app- the FBS Trader (which will be discussed in detail under mobile trading). 

The advantage of brokers offering third-party platforms such as MT4 and MT5 is that traders can take their own customised versions with them should they decide to migrate to another broker.  Additionally, FBS offers its own proprietary mobile app, which is more beginner-friendly than MT4 and MT5, however, the app is only available on Android.  

Metatrader 4

Having established itself as the industry-leading platform, Metatrader 4 (MT4) is the most reliable and popular platform in existence. Its intuitive interface and user-friendly environment provide essential tools and resources for successful online trading. It is also widely recognised for its fast execution speeds, range of charting tools, algorithmic trading, and customisability. MT4 is available in over 31 languages.  Features of the MT4 include: 

  • A built-in library of more than 50 indicators and tools to streamline the analysis process
  • An impressive array of analytical tools, available in nine timeframes for each financial instrument.
  • Algorithmic trading, which allows any trading strategy to be formalised and implemented as an Expert Advisor. 
  • Customisable alerts
  • Access to MetaTrader market and MQL4 community. 

While MT4 has great customizability, the platform feels outdated, and some of the features may be hard to find.  In addition, only the basic orders are available, including Market, Limit, Stop, and Trailing Stop.  MT4 is available on PC and Mac.

Metatrader 5

The MT5 trading platform is being adopted by more Forex brokers all the time.  It has a more modern interface, allows for an unlimited number of charts to be used, shows Depth of Market, and has a built-in Economic Calendar. It also has a larger number of pending order types than MT4 and features an embedded chat system. The MQL5 scripting language is more efficient than its precursor, and MT5 has more advanced charting tools than MT4.  Additional features of FBS’ MT5 include:

  • Over 90 technical indicators and tools.
  • Ability to display 100 charts simultaneously.
  • 21 timeframes
  • Depth of market display.
  • 6 pending stop order types, including Buy Stop Limit and Sell Stop Limit
  • Improved strategy tester for algorithmic trading and expert advisors (EAs)

MT4 and MT5 are available on PC, MAC, and web browsers, in addition to Android and iOS. 

Overall, FBS’ trading platforms are better than those of other brokers, but its proprietary platform is only available as a downloadable app, and only on Android devices.  

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Platform Choice
Copy Trading
11110.54.5/ 5
111104/ 5
111115/ 5

FBS’ Mobile Trading Apps

FBS’ mobile trading platforms are good when compared to other brokers. FBS offers mobile versions of MT4 and MT5 in addition to its proprietary mobile trading app.

FBS’ MT4/MT5 Mobile Trading App

FBS offers support for MT4 and MT5 mobile trading apps for Android and iOS. Traders should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced time frames and fewer charting options, but traders can close and modify existing orders, calculate profit and loss, and trade on the charts.  

FBS’ Proprietary Mobile App

The mobile application developed by FBS is more user-friendly than the standard MT4 mobile application. Featuring an intuitive and user-friendly trading interface, it is designed to be compatible and sync with the desktop MT4 application.

Traders can track real-time stats, open/close/edit positions, add stops to open positions, and delete working orders. Traders can also access information on various contract types, order volume, current ask/bid prices, and take profit and stop-loss.  

Traders should note that the FBS Trader is only available on Android devices.

Overall, FBS’ mobile trading experience exceeds that offered by other brokers.

Trading Tools

FBS’ trading tools are average compared to other similar brokers, and it doesn’t offer technical analysis tools such as Autochartist or Trading Central.

Under its trading tools section, FBS lists an Economic Calendar, a Trading Calculator, and a Currency Converter, which are all fairly standard. It also offers a VPS service for traders with a higher minimum deposit and a decent copy trading service for investors and traders.  


FBS offers a VPS service to traders who deposit more than 450 USD and who trade three lots within the first month of use.  Traders who do not trade these volumes will be charged a fee of 33 USD per month to use the service, which is around the industry average.  

VPS hosting allows traders to run automated algorithmic strategies, including expert advisors 24 hours a day 7 days a week on a virtual machine. VPS services have the advantage of never suffering connectivity issues and have extremely low latency due to their proximity to major international exchanges. 


FBS’ copy trading service is available through the FBS CopyTrade App. The app allows traders to copy the trades of more experienced traders (signal providers).  Signal providers receive a fixed 5% commission from all successfully closed trades.  One of the benefits of FBS’ copy trading platform is its functionality.  It offers multiple copy trading modes and there is no limit on the number of Strategy Providers that can be followed.  

On the whole, copy trading is useful for traders who are interested in the financial markets but lack experience and knowledge. 

Overall, FBS offers an average number of trading tools compared to other large international brokers.

FBS’ Financial Instruments

The choice of financial assets offered by FBS is limited compared to other similar brokers, but it offers a wider range of cryptocurrencies.  

FBS range of financial instruments for CFD trading (click here for more details on CFD trading), including Forex, shares, metals, indices, cryptocurrencies, and energies.

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Financial Instrument
Number of Assets
Stock CFDs
  • Forex: FBS has only 37 currency pairs available for trading which is slightly lower than the industry average.  These include majors (EUR/USD, GBP/USD, and USD/JPY), minors (NZD/CAD, EUR/JPY, and USD/ZAR), and exotics. The leverage on Forex pairs is up to 3000:1, depending on the trading account.
  • Share CFDs: FBS offers 96 share CFDs, which is limited compared to other large international brokers.  The selection available includes some of the major US, UK, and European Exchanges. Leverage on share CFDs is up to 1:100.  
  • Indices: There are 12 indices available for trading at FBS, which is limited compared to what is available at other similar brokers. The most popular indices are those that combine the shares of some of the largest and globally acknowledged companies.  Leverage is up to 1:33 on indices.  
  • Metals: FBs offers trading on 4 metals, which is very limited compared to what is commonly available at other brokers.  Most other brokers offer between 5 and 10 metals.  These include metals such as gold, silver, platinum, and palladium. The leverage is up to 1:333 on metals.
  • Energies: FBS offers trading on five energies, which is again limited compared to what is on offer at other similar brokers.  Leverage is up to 1:33 on energies.   
  • Cryptocurrencies: Cryptocurrency trading is only offered on the FBS Trader app, and FBS offers trading on over 35 pairs, which is impressive. Leverage on these pairs is up to 1:5.
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Fx Pairs
CFD Investments
Stock CFDs

Overall, the selection of trading instruments available at FBS should be viewed as the bare minimum and is not adequate for professional clients. However, FBS offers trading on over 35 cryptocurrencies, which is much more than is usually on offer at other brokerages.  

FBS for Beginners

FBS is one of the better brokers for beginners – the education section is comprehensive and well-structured, and market analysis is up-to-date and well explained. Unusually, customer service is available 24/7 – a welcome development, where the norm is 24/5.  This is extremely beneficial for beginner traders who will likely set up trading accounts on weekends.  

Educational Material

FBS offers a good selection of educational materials compared to most other brokers, and it is suitable for both beginners and more experienced traders alike.

The education section at FBS is well-structured and well-organized, and all material is free. Education is split into five sections:

  • Forex Guidebook – the core of the education section, this is one of the better guides to Forex trading we have seen. It is split into chapters for Beginner, Elementary, Intermediate, and Experienced traders. This guidebook will be useful in some form for almost all readers.
  • Tips for Traders – a frequently updated blog with useful posts covering various aspects of trading in an erudite and informal format. Recent blog posts include Triple Screen Trading Strategy and Bill Williams Fractals Indicator.
  • Webinars – includes a schedule and register of upcoming webinars. FBS holds webinars weekly from its office in Moscow, and registration is a simple procedure.
  • Video Lessons – as you would expect, this is a collection of short videos covering various aspects of Forex trading – good for those who prefer watching to reading, but not as comprehensive as the Guidebook
  • Glossary – FBS offers a good glossary of Forex terms.

Overall, the education section at FBS is more comprehensive than the material that is available at other brokers.  

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Beginner Course
Advanced Course
Well Structured Education
Education Quality

Analytical Material

FBS’ market research is average compared to most other large international brokers.

The FBS Market Analysis is broken down into technical analysis and fundamental analysis.  The technical analysis is somewhat limited, but the fundamental analysis is more detailed and offers Forex traders basic coverage of key topics.

Market analysis materials at FBS is free of charge for all visitors, and is divided into three separate sections:

  • Forex News – A regular news feed of the day’s important events that will have fundamental effects on Forex trades. It is concise, updated frequently, and is well written.
  • Daily Market Analysis – Here you will find short analytical articles on the day’s events, which is very useful for new traders.
  • Forex TV – a collection of videos on everything from suggested trading plans for the week ahead to historical webinars. The trading plans, in particular, are beneficial for new traders.

Overall, FBS offers a range of market analysis materials that are useful for traders of all experience levels, but it is not as comprehensive as what is offered at other brokers.

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Display Name
Research Team
Daily Market Commentary
Forex News
Analysis Webinars
In House
In House
In House

Customer Service

FBS’ customer support is better than that offered by other brokers.

Customer service is available in multiple languages, 24/7 – which is exceptional for an industry where the standard is 24/5. Support is available by email, live chat, and social media, in 14 different languages.

We found the customer service responsive, polite, and resourceful.  They were able to answer all our questions satisfactorily.

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the FBS offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

FBS Disclaimer

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. FBS would like you to know that: CFD’s are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.2% of retail accounts lose money when trading CFD’s with this provider. You should consider whether you understand how CFD’s work and whether you can afford to take the high risk of losing your money.


FBS is a large online international STP/ECN broker with five live accounts with excellent trading conditions compared to other international brokers, and accounts that are suitable for both beginner and experienced traders.  It offers low minimum deposits and micro-lot trading on its entry-level accounts, and low spreads on accounts with higher minimum deposits. However, FBS charges extremely high withdrawal fees and only offers accounts denominated in USD and EUR.   FBS offers support for MT4 and MT5 in addition to its proprietary trading app, and offers a decent copy trading platform in addition to a VPS service for traders who deposit more than 450 USD.  Additionally, FBS offers excellent educational and market analysis materials, and exceptionally,  its customer support is available 24/7.  

AlertAccepts Nigerian Clients. Average spread EUR/USD 0.80 pips on trading account with lowest minimum deposit. Max leverage 3000:1. Islamic account available. MT4 & MT5 platforms supported. FBS is regulated by ASIC, CySEC, the FSCA, and the IFSC.
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