FBS Review 2024: Features, Pros, Cons, and More!

FBS Review 2024: Features, Pros, Cons, and More!

It’s always a pleasure to support you in your trading journey. Available leverage differs according to the asset class, with the most leverage available with CFDs on forex and the least with CFDs on shares. FBS uses Market Execution of orders that are executed at factual market prices and without requotes.

Account Types: 3/5

• FBS offers better-than-average spreads in some instruments, like forex majors, but there is room for improvement in other asset classes.
• I tested the spreads at FBS across various markets during the London open and after the New York open on 2 August 2024.
• FBS provides a robust educational offering featuring video tutorials, webinars, and written guides on a wide range of trading topics.
• FBS allows withdrawals on payment method 1 only after the payment method 2 is completely withdrawn.
• However, as with any broker, it’s essential to exercise caution and start with a small amount of money to test the platform and feel comfortable before committing more significant sums.
• With a minimum deposit of 5$, FBS has a low entry barrier, accommodating a wide range of traders.

All withdrawals regardless of the method will typically take around 48 hours to process. FBS withdrawal methods include wire transfers, credit cards, and eWallet. This includes Globe Pay with a 1.5% fee, Stic Pay with a 2.5% fee and $0.30 commission, and Perfect Money charge a fee too depending on the funding method.

How long does it take to deposit and withdrawal?

All fees are included in the spread, so there is no separate commission. It is important to ask about regulation when it comes to brokers, so is FBS regulated? FBS regulation has been well licensed as the broker has been around for over 12 years. If you’re still on the fence about using MT4 vs MT5, you may research further on the features of the platforms. Other fees at FBS are the withdrawal which differs depending on the withdrawal method of your choice.

Conclusion of the review: Is FBS a scam or not? – It is a reliable broker

Any FBS withdrawal must first be made through Payment Method 2 until the total amount deposited via Payment Method 2 is fully withdrawn (either in whole or in parts). FBS allows withdrawals on payment method 1 only after the payment method 2 is completely withdrawn. As you would expect with a major forex broker, there are a number of deposit methods catered for. This includes wire transfers which are only available in Europe, and typically take 3-4 days processing time.

Is FBS A Good Or Bad Forex Broker?

You should also check whether your bank imposes any fees for wire transfers. Similarly, currency conversion charges should be considered if depositing in a currency that is neither USD nor EUR. Tradestone is a member of CySEC’s Investor Compensation Fund, which can pay compensation to clients should the brokerage not be able to meet its financial obligations. Each account type is designed to meet specific trading needs, from beginners to professional.

Trader tools can be found on the website under the Analytics and Education tab. FBS financial analyst Adetola Freeman provides a market fbs forex review outlook ahead of and after major economic releases like Nonfarm Payrolls via YouTube live streams. In addition to market analysis, the sessions feature live trading.

• That means you have to add the right personal information and upload the required documents.
• Steven Hatzakis is a well-known finance writer, with 25+ years of experience in the foreign exchange and financial markets.
• However, it’s pivotal to acknowledge that FBS may have limitations in offering certain trading instruments.
• It has been operating since 2009 and is regulated by two reputable authorities, which indicates some level of stability.
• On one hand, the competitive spreads of FBS and the availability of MT4 and MT5 represent a big plus that can make it more appealing than other options on the market.

FBS compared with alternative brokers

He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry. At the same time, I experienced refreshingly reliable chat support and rated the educational resources as innovative and practical, making FBS a great choice for beginners. FBS has a robust education section serving both beginners and experienced traders. Clients can take advantage of a range of courses, webinars, platform tutorials, and guides. I rate the quality and volume of the content as better than average for the industry.