FBS, established in 2009, as a broker catering to beginners, offering a wide array of CFD markets and competitive fees. They provide various account types using MetaTrader 4, MetaTrader 5, and the FBS Trader app. Our assessment involved testing an MT5 Standard Account at the European entity of FBS (fbs.eu).
This Cyprus-based broker operates in over 150 countries, boasting a substantial client base of more than 17 million active users. FBS holds regulation from the top-tier CySEC for its European entity. Notably, the brand has affiliations with Leicester City Football Club and FC Barcelona.
Regulated by CySEC in the EU and ASIC in Australia, FBS provides a level of safety and security for traders in these jurisdictions. The broker offers competitive spreads in select trading instruments, notably under one pip in pairs like EUR/USD, potentially benefiting active traders.
FBS positions itself as beginner-friendly, offering a unique account type for new traders along with extensive educational resources. Furthermore, its competitive spreads and advanced platform functionality on MetaTrader may appeal to experienced traders.
However, it’s essential to monitor overnight (swap) fees, which could accumulate over time. Additionally, certain instruments, like the Dax 30, have relatively wide spreads, potentially impacting short-term traders’ profitability due to increased costs when entering and exiting positions.
FBS, founded by investors focused on trading research and technical analysis, has evolved into an international brand present in over 150 countries. It comprises several entities licensed by various regulatory bodies, enhancing its trading capabilities and services.
While FBS boasts stability in its trading environment, good conditions on MetaTrader platforms, and a wide educational section, limitations exist, such as a confined range of trading instruments to Forex and CFDs. Variations in trading conditions among entities suggest opting for the European or Australian entity for enhanced transparency.
The broker’s strengths include low stock and stock index CFD fees, a streamlined account opening process, free deposits and withdrawals, user-friendly services, excellent customer support, and extensive educational materials. However, limitations in its product portfolio, account base currencies, and investor protection for non-EU clients are notable drawbacks.