What We Tested
- Account type: Standard MT4 Account ($100 starting balance for test)
- Platform: MT5 Mobile
- Trading period: 4 months, Focus on Spread/Bonus testing
- Pairs tested: EURUSD, XAUUSD, Cent Account Functionality
- Withdrawal tests: 2 successful (Skrill, Perfect Money)
- Support tests: 6 inquiries (focused on bonus withdrawal terms)
Testing confirmed the functional reliability of the Cent Account and execution speed. A key focus was investigating the legal restrictions placed on funds when accepting the broker’s aggressive deposit bonuses.
Regulation & Safety
FBS provides a stable regulatory foundation through its global structure:
- ASIC (Australia) – Tier-1 regulation, strict compliance. Leverage limited to 1:30.
- CySEC (Cyprus) – Tier-2 regulation, ICF compensation up to €20,000. Leverage limited to 1:30.
- IFSC (Belize) – International entity, offering leverage up to 1:3000.
- FSCA (South Africa) – Local oversight, providing regional trust.
Spreads & Execution
| Pair/Asset | Standard Avg Spread | Zero Spread Account | Commission (Zero Spread) |
|---|---|---|---|
| EUR/USD | 1.2 pips | 0.0 pips | $20.00/lot RT |
| GBP/USD | 1.8 pips | 0.0 pips | $20.00/lot RT |
| XAU/USD (Gold) | 30 pips | 5 pips | $20.00/lot RT |
Standard/Cent accounts are commission-free with markup. The Zero Spread Account offers 0.0 pips but charges an extremely high commission.
Execution Model and Quality
- Execution Model: Hybrid Market Maker (NDD elements on ECN accounts)
- Fill Reliability: Generally stable. Orders executed from 0.01 seconds.
- Speed: Very fast, suitable for scalping and EAs (on ECN/Zero accounts).
Execution is fast and reliable. The variety of spreads caters to different risk appetites, but the overall cost structure is complex due to varying spreads/commissions.
Bonus Traps and High Leverage Risk
FBS is aggressive with promotions and high leverage, two significant risk factors for retail traders:
- High Leverage: The 1:3000 leverage offered by the IFSC entity can liquidate an account instantly with minimal price movement. This should be avoided unless you are an advanced user.
- Bonus Trap: Bonuses come with severe volume restrictions (e.g., 50x the bonus amount), effectively trapping your capital until impossible trading requirements are met.
WARNING: We highly recommend **NEVER** accepting any deposit bonus from FBS. If the bonus is auto-applied, demand its immediate removal before executing any trades to ensure you retain control over your own withdrawal rights.
Account Types & Fees
Standard Account
- Min deposit: $100
- Spreads: From 1.2 pips (markup included)
- Commission: $0
- Best for: General traders, simplicity.
Cent Account
- Min deposit: $5
- Spreads: From 1.0 pips (markup included)
- Commission: $0
- Best for: Absolute beginners, micro lot testing.
Zero Spread Account (Raw)
- Min deposit: $500
- Spreads: Fixed 0.0 pips
- Commission: $20.00/lot RT (Extremely High)
- Best for: Traders who need guaranteed zero spreads.
Other Fees
- Deposit fees: $0 (all methods)
- Withdrawal fees: Yes (Varying fees apply to certain methods, e.g., 0.5% + $1 USD on Skrill).
- Inactivity fee: None
- Swap rates: Standard overnight financing applies; Islamic accounts available.
Deposits & Withdrawals (Tested)
FBS provides reliable funding, though it charges fees on some withdrawals:
| Method | Amount | Processing Time | Fees | Notes |
|---|---|---|---|---|
| Credit Card/Debit Card | $200 | 1 business day | Varies | Fees may apply depending on the entity. |
| Bank Wire | $1,000 | 3-5 business days | Varies | Reliable for large amounts. |
| Skrill/Neteller | $200 | Same day (4 hours) | Yes (e.g., 0.5% + $1) | Fees commonly applied. |
Platforms & Tools
- MetaTrader 4 & 5 (MT4/MT5): Full suite support for EAs and indicators.
- FBS Trader App: Proprietary mobile platform with account management and trading features.
- FBS CopyTrade: Dedicated social copy trading platform.
- Tools: Daily analysis, trading signals, and extensive educational resources.
Our Take: Platform flexibility is good, covering all major needs (MT4, MT5, CopyTrade). The focus is on providing tools for both beginners and experienced traders.
Customer Support (Tested)
FBS offers multilingual 24/7 support:
- Live Chat: 24/7, highly responsive, professional staff.
- Phone Support: Dedicated global lines (high quality).
- Quality: Support is fast, necessary for the high-frequency/high-leverage environment they promote.
24/7 support is excellent and required given the high risk associated with their max leverage and bonus offers.
PROS
- Strong Tier-1/Tier-2 Regulation (ASIC, CySEC)
- Extremely high max leverage (1:3000 in offshore entities)
- Very low minimum deposit ($5) and Cent Accounts for beginners
- Excellent platform variety (MT4, MT5, CopyTrade)
- Zero minimum spread available (Zero Spread Account)
- Responsive 24/7 customer support.
CONS
- Aggressive bonus policies create withdrawal traps.
- High commission on the Zero Spread Account ($20.00 RT).
- Withdrawal fees apply to many payment methods.
- High maximum leverage (1:3000) is extremely dangerous for retail traders.
- Spreads on commission-free accounts are wide (1.2 pips min).
Who Should Use FBS?
- Great fit: Absolute beginners testing strategies with minimal capital ($5 Cent Account), or high-risk traders who understand leverage and bonus terms.
- Good fit: Traders utilizing the FBS CopyTrade social platform.
- Not ideal: Traders who accept deposit bonuses (due to withdrawal restrictions) or high-volume scalpers (due to wide spreads/high commissions).
Final Verdict
FBS is a massive global broker known for its accessible trading conditions, offering accounts suitable for deposits as low as $5, and supporting leverage up to 1:3000 in its international entities.
Regulatory security is provided by ASIC and CySEC, confirming its fundamental reliability. The sheer volume of accounts (27M+ clients) attests to its global appeal, particularly in high-leverage markets.
However, FBS is defined by high-risk factors: the aggressive promotion of leverage up to 1:3000, and its notorious use of bonus terms that often lead to withdrawal restrictions, making it an unsuitable choice for any trader who cannot read and comply with complex legal fine print.