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There are many brokers out there in the market. To run the forex business smoothly, traders are stuck with the brokers they choose to invest in. To solve this problem, they definitely do some research about the brokers and today I will give traders who are not so familiar with FBS can know about this broker. Besides the facts that they are established in 2009 and they offer the currencies in 35 different pairs combined with 4 precious metals and 2CFD and cryptocurrencies also.
FBS is known as one of the best brokers in the market that develop their business day by day to satisfy some features of the best brokers such as:
– Reliability: licenses
– Trading cost: spread, commission, bonuses
– Trading condition: account sorts, payment method, quote station
– Helping tool: local agencies, opening time
Generally, trading cost is the term of spread, commission and bonuses.
FBS lies in one of the lowest spread givers with only 0.2 to 1.1 pip, this number is far more less than big brokers like XM, FXTM, and FXCM…As known as differences between Ask price and Bid price, spread is a important feature that many traders count on to decide what brokers they want to invest in.
About the commission, like any other brokers are the main sources of earning, which means their benefit is crucially from the commission amount they get from clients. And FBS has its own policy about that. Although they main income is from commission, they do not charge this fee when traders open Cent and Standard accounts.
One of the very interesting advantages that traders get from brokers is bonus. FBS now make three main kinds of bonus programs which are deposit, welcome and loyalty. These bonus offers can help traders gain the total of 123 dollars. First, with the loyalty program or it is also called lot back bonus, for each lot completed by traders, an amount of about 7$ is going to be transferred into your account as the bonus account that for many big traders is huge profit helping decline considerable fee rate. Then, deposit bonus is rewarded by basing on the deposit quantity. With FBS, the received money can reach 100% of total of deposit. Finally, the welcome bonus is applied when you open an account with FBS and they will send back 50$ into the traded account.
Conditions of trading with FBS
Most things are cared by traders about the condition are types of accounts. To make the trading plans matched, FBS supply three main sorts of accounts. Every account will bring different advantages. Accounts can be divided into two forms: regular account and ECN account. Regular accounts include Cent and Standard and Fixed Spread account.
– Cent account: Cent account is charged with zero commission and the spread is very low at 1 pip. The deposit is even limited as a very low with only 1$. As a result, with 10$ and the value of orders at 0.01 lot Cent to 1000 lot, traders can practice trading within three whole months.
– Standard account charges no commission too. But they do put a limit on the deposit at no less than 100$. In addition, the leverage is high with 1:3000, which is pretty huge in comparison with XM with 1:888. FBS not only supplies no commission fee they also have the low spread with only 0.5 pip. The limit lot they require is 0.01 to 500.
– Fixed Spread account which is also Zero Spread account is the account with no spread at all and traders are charged 20$ commission instead, with the reason that they still have to earn something in the business so if they are no spread counted they need commission for the revenue. And of course the limitation of deposit are higher than other accounts with 500$ least; however, the leverage and the order value are at the same rate with Standard account.
– ECN account: which is not regular account but it are the accounts that need more professional knowledge about forex and experts of trading forex are the fit for that kind of accounts. Because ECN account’ limited deposit is 1000 $ which is quite high that need more skill to handle trading strategies. However, the commission is quite supportive with only 6$ while other big brokers like XM and Exness have higher commission, at 6$ and 5$ separately.
Reliability of FBS
One clear lesson can be learned when trading forex is that licenses can prove the credibility of the brokers because it is not easy to get one. To have one license, brokers have to be tested in many aspects. These aspects will be checked by the reputation organization that can make sure they have the good principles that brokers are in the command to carry. At the present, FBS owns two of the most reliable licenses which are CySEC and IFSC.
There is a note about licenses that traders should be aware of. More licenses do not mean being more reliable. Actually, more licenses causes more cost and trouble than you think. The truth is that the licenses are important to brokers. But if in your country, the broker does not own licenses from your country this is a huge mistake to trade with them because this brokers do not protect you safely enough. For example, FBS has one license from African which is IFSC. Therefore, African traders are secured when trading with FBS. However, it is totally bad to trade with brokers do not have licenses from your countries. The better choice is choosing the brokers that are ruled by one trusted license. In fact, one trusted license can show how reputable this broker is and also, save a lot of more fees. FBS can solve this problem with one trustful license that is CySEC. So traders from everywhere, especially Asian traders, can trade with FBS without worrying about more trading costs that could be charged.
Payment method FBS provides
Payment is not kept in mind so much because traders usually get involved in this matter until they have do make the deposit or withdrawal. It is common that UK and US brokers serve the best payment service in their countries. But, the service goes abroad with more trouble for traders to handle. In the term of depositing, Asian traders are required to pay the fee from 1.7% to 4% in the total amount of deposit and it is not a big thing to mention if the profit is higher than the rate of 5%. The received profit is too small to risk a quite high percentage of fees. Particularly, Indonesian and Thai traders are the common victims of this situation. Most of them will see that local payment is cheaper and more convenient.
FBS knows what satisfy clients and help them get the payment process go quickly with the system of local banks in Indonesia and Thailand. These local banks combined with e-wallet make the transferring way done in just minutes to half an hour which is the second fastest after Exness.
Locally helps from FBS
FBS has a huge quantity of clients from Asian and one problem that clients from there usually get that is the language. These Asian traders are not fluent in English and forex is a complex field. FBS have the multi-language tool that help clients to communicate their issues by their original language and also FBS has offices open 24/7 or clients can require the service to call back.