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You are new traders? And you are still struggling to find a suitable and perfect broker? If the answer is yes, this article is for you. In this article, I will give you a full FBS review in terms of credibility, regulations, trading costs, and account types.
The first criterion is credibility.
As for FBS, it is a reliable broker because of its numerous awards including “Best Forex Broker Southeast Asia”, “Best Customer Service Broker Asia 2016”, “Best Forex Broker Thailand” and “Best International Forex Broker”.
From such awards, I believe you will feel safe when trading with FBS.
The second standard is regulations.
It can be said that the first and foremost factor used to judge a broker is their regulations because only trusted financial organizations can license the regulations to brokers. For FBS, their regulations are CySEC and IFSC, two of the most trusted regulations. I will explain more specifically what these regulations are. CySEC means Cyprus Securities and Exchange Commission whose registration number is 353534. IFSC is International Financial Services Commission of Belize whose license number is IFSC/60/230/TS/18.
The next thing I would like to show you is trading costs consisting of spread, commission and bonus.
- Spread:
The spread shows the difference between the Ask price and the Bid price of a currency pair. When trading with FBS you will be offered two types of spreads, one is fixed spread, and the other is floating spread. Fixed spread starts from a minimum of 3 pips while floating spread start from a minimum of 0.2 pips.
- Commission:
Charging commissions is a way that FBS, as well as some brokers such as Exness, XM, HotForex (Check out Exness reviews), gets income. The commission rates of FBS are different based on the type of account. For the Cent and Standard accounts, the commission is free.
- Bonus:
Not only providing different types of bonuses like the $50 welcome bonus, the Bonus 123, and the 100% deposit bonus, FBS also offers an attractive promotion where traders have a chance to get an iPhone X when trading there.
One more thing I need to share with you is account types.
- Cent account:
If you are beginners, this type is perfect for you. It only requires $1 for depositing. It is actually a good choice for new traders as when first start to trade, they don’t want to put too much money in it because 90% of new brokers lose everything when they begin trading. Moreover, it has floating spread and free commission. The order volume is from down to 0.01 lot Cent up to 1000 lots.
- Standard account:
If you have a bit more experience, you can use this type. It has many wonderful trading conditions including:
- The minimum deposit: average – about $100.
- The spread:
- The leverage: up to 1:3000 – pretty high.
- The order volume: from 0.01 to 500 lots.
- Commission: free.
- Zero spread account (fixed spread account)
Its trading conditions are:
- Spread: fixed.
- Commission: free.
- The minimum deposit: $500.
- The leverage: up to 1:3000 – pretty high.
- The order volume: from 0.01 to 500 lots.
- ECN account:
Do not use this type unless you are experts and long-term traders. It requires pretty high deposit, at least $1000. However, the commission is similar to other brokers which is free. Its leverage is 1:500.
To sum up, that’s all the details about the review of FBS. I confidently believe that it will be an integral part in your successful path. Thanks for reading. This article is brought to you by BRKV.
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