FBS REVIEW - IS FBS A GOOD FOREX BROKER?
FBS is rising as one of the best forex brokers for the Asian regions in 2019, especially in Thailand and Indonesia. So, today I will give an FBS review for new traders who are still struggling to find themselves a suitable forex broker. FBS was founded in 2009. They allow traders to trade up to 35 currency pairs, 4 precious metals, 2 CFD, and cryptocurrencies.To get more news about
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When finding the best brokers, we need to have standards to rate them. These standards are the fundamentals that any brokers who want to become the best should meet. Those are:Now, let's have an FBS review based on the standards mentioned above. Also, I will compare some aspects of this broker to the top brokers such as Exness or XM. When it comes to credibility, of course I'm talking about regulations. The first and foremost factor used to judge a broker is their regulations. Regulations are the licenses that trusted financial organizations give to a broker to manage that broker. Regulation is the thing that makes sure a broker has to follow a certain set of rules to guarantee traders' safety. Only big forex brokers can meet the demands of those regulations. FBS is regulated by CySEC and IFSC, two of the most trusted regulations. So you can rest assured that you are in safe hands.
Speaking of regulations, there is one thing I think I need forex traders to understand. Some new traders tend to think that the broker who has more regulations is better than those who have less. This is actually a wrong idea. Having many regulations doesn't mean that broker is better in term of trading. There are two scenarios here. If your country already has a regulation, you should work with broker who has that regulation. You won't need any other regulations from elsewhere. Your own country's regulation is enough. FBS has IFSC, a South African regulation, so traders in South Africa can be safe when trading with FBS. On the other hand, if your country does not have a regulation, like most Asian countries, you should trade with brokers who have at least one trusted regulation, FBS in this case is CySEC. Too many regulations will only put more limits on the broker. Regulation is just a signal that lets us know that this broker is decent, reliable, and safe to trade with. A broker only need one trusted regulation.
Trading costs of FBS review
Spread of FBS review
Most traders would love to do business with a low-spread broker. Spread is the difference between the Ask price and the Bid price of a currency pair. The spread of FBS is only from 0.2 to 1.1 pip which is in the top low spread brokers.
Commission of FBS review
Some brokers charge commissions for income, so does FBS. Based on the type of account, FBS has different commission rates. For the Cent and Standard accounts, there is no commission.
Bonuses of FBS review
FBS offers many types of bonuses like deposit bonus, welcome bonus, or loyalty program. They have a bonus with the highest rate ever, up to $100. Their deposit bonus gives back trader 100% of the deposit amount. Also, there is the cashback program, which rebate you $7 for every lot traded. Right now, they are having the $50 bonus. You just need to sign up and $50 will be transferred to your account immediately.
BRKV - FBS offers traders 4 different types of account, which are the regular accounts (Cent account, Standard account, and Fixed Spread account) and the ECN account. Each account type has its own features that are suitable for different types of traders.
Cent account: This is the account for beginners or new traders. Why so? The required deposit is only $1. When you first start trading, you don't want to put too much money in it because 90% of new brokers lose everything when they begin trading. With only $10, I think you can practice trading in real-life conditions for up to 3 months. The spread is relatively low, only around 1 pip. The order volume is from down to 0.01 lot Cent up to 1000 lots. The lower the better because that way you won't lose too much money. And even better, this type of account does not charge any commission, so you can trade as much as you want without costing a penny.
