THE SECRETS OF FBS NOT EVERYONE CAN KNOW
Trading forex will never be difficult if you can find a good broker to trade with. But how can you find that broker? The question will be answered after you read this FBS review.
Unlike the previous ones, this article focuses on only one broker which is FBS. That is because FBS currently is one of the most preferred brokers in Asia. Now let’s go through what we want to share with you.
When evaluating the best forex brokers, we usually base on four criteria, and so does FBS. Those four criteria include credibility, trading costs, trading conditions and customer services.
The most significant element to determine whether or not a broker is reliable is regulation. Regulation is defined as the license which the trusted financial organizations issue to that broker. By doing so, they can ensure that the broker will follow the rules to guarantee traders’ safety. Only large brokers are able to meet the requirements of such regulations. For FBS, they are regulated by CySEC and IFSC – two of the most reliable regulations. As a result, you can feel safe if you trade with them.
There is one more thing you should take note here. Some traders think that a broker is better than others if that broker has more regulations. That idea is absolutely wrong. To explain the reason why, we will show you two scenarios.
Scenario 1: Your country has its own regulation. In this case, only your country’s regulation is enough. Brokers do not need any others to indicate their credibility. For instance, FBS has IFSC which is a South African regulation. If you are traders in South Africa, FBS will be a good choice.
Scenario 2: Your country has no regulation. Then you should choose a broker that has from one to two trusted regulations. Do not select one that has many regulations, as the more regulations the more limits. In this situation, FBS has CySEC.
- TRADING COSTS:
Usually, traders would love the brokers offering low spread. Spread is the difference between the Ask price and the Bid price of a currency pair. In comparison to other brokers including XM, FXTM, etc., FBS’s spread is much lower which is from 0.2 to 1.1 pips, which is pretty high compared to Exness. Check Exness reviews.
For FBS, the commission rates are not the same for all traders. The rates are calculated depending on the account types. For example, there is no commission for Cent and Standard accounts.
FBS’s bonus programs are various including cash-back program, $50 bonus program, etc.
- TRADING CONDITIONS:
- Payment system:
The payment system of FBS is relatively good. Traders can deposit and withdraw via local banks and e-wallets in Asia with a pretty fast transferring speed. Moreover, you can complete your transactions in half to one hour, which is much faster than others.
- Account types:
FBS offers four types of account which are Cent account, Standard account, Fixed Spread account and ECN account.
Cent account is suitable for new traders as it requires only $1 for deposit. Beginners can pay $10 for 3 months of practicing trading in real-life conditions. This is a good way to gain experience. Additionally, Cent account charges no commission, which means you can trade as much as you want.
Standard account is used for traders with more experience. It provides high leverage – up to 1:3000 and low spread – 0.5 pip. Like Cent account, it does not charge commission.
Fixed Spread account is different from the two-mentioned above. It charges no spread but $20 for commission. Other features are similar to Standard account.
ECN account is used for experts and long-term traders. It requires up to $1000 for minimum deposit and charges $6 for commission.
- CUSTOMER SERVICES
Customer support is really necessary and important. FBS supporting services are pretty cool. For English speakers, FBS supports them 24/7 on live chat, and they can even tell FBS to call them back. For non-English speakers, FBS opens offices in some countries like Indonesia, Malaysia, Egypt, China, etc. which serve clients 5 days per week.
This review is brought to you by BRKV: https://brokerreview.net/about-brkv-2.