As one of the reliable trading platforms operating in Vietnam, FBS is regarded as the best option for new traders in the foreign exchange (forex) industry. Besides, FBS is also very good at promoting its brand. Apart from investing significant amounts of money in advertising, FBS prioritizes product innovation and develops strategies and regulations to attract beginners.
As a result, FBS has achieved many notable successes, including over 14 million customers from 190 countries worldwide, with 80% of them being loyal customers. FBS exchange has been able to draw a lot of investors to trade on their platform thanks to consistent media advertising.
Overview of FBS
FBS satisfies all of the requirements for reliable forex brokers that we have previously assessed. FBS was founded in 2009 and has over 11 years of financial industry experience. A unique feature is that FBS creates separate websites for each country in which they operate, leading to friendliness and trust in customers from the first visit. FBS developed the platform to serve over 14 million customers from 190 countries, creating approximately 7000 new accounts each day. In particular, up to 80% of customers are FBS loyalists, an impressive number that only a few forex brokers can achieve.
FBS operating license
FBS is regulated by the International Financial Services Commission (IFSC) and CySEC (Cyprus Securities and Exchange Commission). Although FBS’s license is not as strong as some other forex brokers, having a license from CySEC also proves the company’s efforts to enhance services and provide traders with the highest level of quality.
CySEC licensed FBS in August 2017, despite the fact that FBS has been in operation since 2009. This demonstrates that FBS is attempting to improve and expand the market in order to offer the best services to users. Following the Markets in Financial Instruments Directive (MiFID) principles, CySEC is a relatively active financial regulator offering up to €20,000 in compensation in case of a forex broker’s bankruptcy.
Types of FBS accounts
Customers of FBS have access to 5 primary account types: Micro, Standard, Zero Spread, ECN, and Cent accounts. Each account type has its own set of characteristics, as well as advantages and disadvantages.
Open a FBs account here: https://fbs.partners/
- Cent account: This is a suitable account for beginners with small capital. The advantages of this account type include low spreads and the capacity to trade with small orders.
- Micro account: Similar to the Cent account, the Micro account is also appropriate for newcomers but has a larger initial capital.
- Standard account: The most common type of account that works well for a majority of traders, including those with experience.
- Zero Spread Account: Ideal for individuals who prefer accurate forecasting of trading expenses, this account features a fixed spread.
- ECN account: intended for experienced traders, with low spreads and fees.
Trading platforms of FBS
FBS provides 3 main trading platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), and FBS Trader. In the forex market, MT4 and MT5 have become popular and frequently used platforms. FBS developed the mobile trading application FBS Trader, which makes it simple for users to trade on their phones.
Support and educational services
FBS prioritizes increasing customer knowledge in addition to offering a trading platform. They provide technical and fundamental analysis material, along with instructional videos from their experts.
To sum up, FBS is an appealing option for new investors, particularly in the Vietnamese market. Numerous investors have been drawn to FBS by its emphasis on providing high-quality service and customer support; the exchange also benefits from offering a range of account types and trading platforms. However, it is crucial to carefully consider aspects like trading fees, withdrawal and deposit procedures, and compatibility with your trading strategy when selecting a forex broker.
Details about FBS’s trading products and leverage are provided below.
Trading service:
- Forex Currencies: A Total of 37 Forex currency pairs are available for trading at FBS, including 28 popular currency pairs and 9 rare currency pairs. With 1:3000 as the maximum leverage for currency pairs, you can trade with capital that is significantly larger than the amount you deposit into your account.
- Precious metals: FBS provides 4 types of precious metals including gold, silver, palladium and platinum. There are different leverage ratios for precious metals: 1:333 for gold and silver and 1:100 for palladium and platinum. This enables you to trade precious metals without having to invest large amounts of money.
- Contracts for Difference (CFD): 5 CFD codes are available from FBS, helping you to trade assets such as financial indices, oil, and gas. You can maximize your profitability by taking advantage of the 1:100 leverage level offered by contracts for difference.
- Stocks: FBS offers 1:10 leverage trading for stocks from 33 distinct codes. Therefore, you can trade stocks without making large investments.
Leverage level and conditions:
The flexibility of FBS’s leverage levels is dependent on the type of account and the amount of money deposited. As follows:
- Accounts under 200 USD: Maximum leverage is 1:3000.
- Accounts from 200 USD to 2,000 USD: Maximum leverage is 1:2000.
- Account from 2,000 USD to 4,999 USD: Maximum leverage is 1:1000.
However, you should note that using higher leverage also means higher risk. Adjusting leverage or margin is one aspect of FBS’s policy to reduce risks when trading overnight.
FBS also does not provide cryptocurrency (crypto) trading, which should be considered if you are interested in this type of product.
Trading Fees and Spreads:
There are two types of spreads in FBS: floating and fixed. The spread varies based on the type of account you select; the ECN account has the lowest spread while the Micro account has a higher spread because it is provided in a fixed format.
Commission fees apply to ECN accounts and Zero Spread accounts only. Other account types do not charge commission fees.
Customer service:
FBS is renowned for offering excellent customer service, with a dedicated and friendly support team available to help you with any inquiries and support you during the trading process.
In short, FBS provides a wide range of trading options and excellent customer service, particularly for new traders. However, before trading on this exchange, you should carefully review the trading terms and manage your risks.
Advantages and Disadvantages of FBS platform
Advantages:
- High leverage up to 1:3000 is suitable for risk-loving traders
- Super fast transaction matching speed with 95% of transactions executed within 0.40 seconds
- Low commissions and spreads (from 0 points) for most accounts
- Free trading platform app – FBS Trader enables trading from anywhere (only for non-ASIC regulated regions)
- Excellent, multilingual customer service is constantly available to assist.
Disadvantages:
- Users must pay deposit and withdrawal fees (depending on payment method)
- Customers in the EU, UK and Australia have fewer account options than customers from other regions
Who should use the FBS trading platform?
Whether you’re a beginner or a trading expert, FBS has a variety of accounts with customized features that satisfy your needs.
FBS has developed into an exceptional broker, ready to invest in less experienced investors on their path to success by establishing a friendly, highly educational, cost-effective, and accessible trading environment. Free access to webinars, e-books, analytical seminars, video tutorials, and forex guides is available to all participants. Moreover, FBS frequently hosts media events to present traders with new markets and concepts as well as offer attractive rewards for participation (though these events are limited to specific regions based on IFCA and FSCA regulations).
FBS is managed by:
- Cyprus Securities and Exchange Commission (CySEC, Cyprus)
- Australian Securities and Investments Commission (ASIC, Australia)
- The Financial Sector Conduct Authority (FSCA, South Africa)
- International Financial Services Commission (IFCA, Belize)
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