FBS REVIEWS – HOW GOOD IS FBS?
FBS is very popular in Asian countries as one of the best forex brokers in recent years. They mainly work in Indonesia and Thailand. This article will be about conducting FBS reviews for the beginners who are looking for the best forex brokers to work with. I hope that some typical information of FBS will satisfy you to find out your answer of the best forex broker. FBS was set up in 2009 and the traders can trade up to 4 precious metals, 2 CFD & cryptocurrencies and 35 currency pairs.
We will conduct FBS reviews with the following standards. Other brokers will be compared with FBS to in this article to have an overall view of the brokers.
Regulations are considered as the most fundamental factor of identifying the credibility which is used to evaluate any trustworthy brokers. Regulations are about the legal licenses offered to a broker by trusted financial firms in the world. All brokers need to follow some set of rules for traders’ guarantee. In fact, only some big brokers can meet the strict demands of the regulations. IFSC and CySEC are two of the most trusted organizations of regulations to give FBS ones. So you will feel safe from any risks if you trade with FBS.
If you think that a broker with more regulations is better than others. This idea sounds wrong. Having a lot of regulations doesn’t mean a broker is trustworthy in terms of their trading. 2 possibilities can occur. If you have regulations in your country, it’s very convenient for you to trade with local brokers. Just one local regulation is enough for you. FBS owns IFSC, a regulation in South Africa. It’s guaranteed to trade with them.
On the contrary, if you don’t get a regulation in your country. Don’t worry. It’s a lot of wiser to trade with a trusted broker with a regulation. One more things, having too many regulations will set a limit to trading. Regulation represents trust, fame and safety.
The traders prefer to trade with low- spread brokers. Spread is regarded as the difference between Bid price and Ask price of a currency pair. With FBs spread, it fluctuates from 0.2 to 1.1 pip that is low spread among the best forex brokers BRKV.
FBS charges their commissions for income. Through kinds of the accounts, FBS offers several level of commissions. For the accounts of Cent and Standard, no commissions are available.
FBS offers Deposit bonus, loyalty program and welcome bonus which are very popular in the forex market. The deposit bonus will be totally paid back traders. Moreover, with cashback program, you will rebate $7 for every lot trading. You will be offered $50 in your account if you sign up immediately.
CONDITIONS OF TRADING
There are 4 kinds of accounts given by FBS. They include 3 regular accounts (Cent account, Standard account & Fixed Spread account) and ECN account. Each account will be for each trader, depending on their demands and different targets of trading forex.
Cent account is mainly for new traders, because the minimum required deposit costs only $1. When you’re in trading at first time, I advise you shouldn’t put a lot of money in it because the chances of new brokers to win is nearly zero. Instead of that, with $10, you can be easy to practice trading in real conditions in 3 months without less losing. The spread is just around 1 pip. The lower it is the better it is. And even better, this type of account doesn’t charge any commissions, so you can trade as much as possible you want without fear of losing your money.
Standard account is often for experienced traders. The minimum deposit is just $100. The spread is better, about 0.5 pip. The leverage comes to 1:3000. This account charges no commission.
Fixed Spread account has no spread. Instead, it charges each trader $20 for commission. It’s reasonable for traders because the spread is the main income of brokers. If the spread comes to zero, the brokers have to charge commission. The minimum required deposit is $500.
ECN account is very popular with the experts and long-term traders. The minimum required deposit is $1000, but the commissions are much lower than others ($6).
SYSTEMS OF PAYMENT
Some brokers in US or UK are well-known all around the world. But in Asia, this fact can go wrong. They are not suitable, especially in Thailand or Indonesia because if traders make a deposit by credit cards, their bank will charge with a lot of money, between 1.7 and 4%. If you make a profit 5% a month and pay 4% for depositing. Actually, this price is too high for any traders.
Instead, finding any brokers offering local systems of payment is much better. FBS is the best option of Asian traders. You can make a deposit and withdraw money in terms of the e-wallets and the local banks. Also, transferring speed of FBS is an impressive feature. It only takes from 30 to 60 minutes to complete your transactions via banks on FBS system while other brokers can take a lot of time: hours to days or even more time. It’s a waste of time.
Customer service plays an important role in any business, especially in forex trading. As a new traders, it’s hard for you to have a thorough understanding of forex. So, a lot of constant help are really necessary to make traders aware of everything in forex. For this reason, customer service is a high factor to identify a broker is good or not.
FBS team of support is available in English 24/7 on live chat. You can easily make a request of calling back. This performance is a proof of how dedicated they are to their clients. To non-English speakers, they have various offices in Malaysia, Indonesia, Korea, Thailand, China, Egypt and Myanmar to help them 5 days a week. I’m really impressed by FBS customer service.
This article is brought to you by Mario Draghi.