FBS Review 2022: Best Broker in South Africa

Global CFD broker FBS was established in 2009. It is governed by several financial regulatory bodies around the world, including the Financial Sector Conduct Authority, the International Financial Services Commission of Belize, the Australian Securities and Investments Commission, and the Cyprus Securities and Exchange Commission (CySEC) (FSCA). If you are finding best broker in south Africa this is the best platform.

The broker’s services vary slightly depending on the legal organization you open an account with. We emphasize information that is pertinent to other legal bodies while concentrating on the services offered under CySEC in our review.

Pros and Cons of FBS

FBS has been around for a while and offers a reliable trading environment, good trading conditions like copy trading on MetaTrader4 and 5, cheap spreads, and an education department.

Forex and CFDs are the only available trading options, and each business has its trading terms. For greater transparency, we advise signing with European.

Awards

Over 60 international awards that acknowledge FBS as a Transparent Broker with the Best Customer Service over the years of its successful operation make it one of the most famous brands in the world.

Is FBS legit or a fraud?

No, FBS is not a fraud. It is a brand name used by Tradestone Limited, an investment firm that is EU and MiFID regulated and registered with CySEC. Tradestone Limited is a Cyprus-registered company.

The Marshall Islands and Belize, offshore jurisdictions that don’t precisely demonstrate their dependability, are home to another FBS company.

The Financial Service Commission, a local authority in Belize, mostly registers businesses rather than controls them. However, when combined with European CySEC regulation, it makes FBS a broker that complies with legal criteria and provides dependable trading circumstances. Another difference is that plus500 vs etoro etoro offers copy trading and plus500 does not.

Information and Trading Instruments for FBS Accounts

FBS offers trades with a minimum size of 0.01 lots.

Leverage on forex pairings can go up to 3000:1.

To open a live account, you must deposit at least $1.

Leverage frequently fluctuates depending on the asset being traded, as well as depending on the type of account, the nation in which you are based, and other variables. To make sure you comprehend all the specifics of any items you desire to trade, please refer to the FBS.com website or get in touch with customer service.

Over 35 forex currency pairs, cryptocurrencies, Gold, Silver, other precious metals, stocks, stock indices, oil, and other commodities are among the trading instruments offered by FBS.

FBS Payment and Withdrawal Processes

FBS customers can make deposits and withdrawals using VISA, Bitwallet, Local Exchangers, Neteller, PerfectMoney, Skrill, and SticPay.

Methods of deposit and withdrawal could change over time. Some techniques might not be accessible in all nations. Please check with broker support or visit their website for the most recent details on the available deposit and withdrawal options.

Trading Restrictions at FBS.

FBS does NOT accept customers from the USA. Brazil, Canada, Iran, Israel, Japan, Malaysia, Myanmar, and the United Kingdom are some countries that FBS does not allow traders from.

Please read the reviews of FBS Brokers below and share your real-time trading experiences with this firm.

Leverage FBS

The highest level of leverage is dependent on the branch and account type. The broker offers leverage on Standard and Cent account types up to 1:30 in the EU. It provides up to 1:1000 on the Cent account, 1:500 on the ECN account, and 1:3000 on other account types on a global scale.

Following a margin call of 40% or less, FBS is allowed to close a client’s position.

Mobile Apps

App FBS Trader

According to the owner and CEO, FBS Trader is a free trading app with all the features you might want. It is available via Google Play for Android (APK) smartphones. It’s also accessible for iOS outside of the EU. The broker’s downloaded app provides real-time statistics, simple management, and top trading options, including forex. Plus500 vs etoro comparison reviw is good if you interested in investing money online.

Apps for MT4 & MT5

The App Store and Google Play offer mobile apps for both MetaTrader platforms. The primary functions of native platforms, such as technical analysis, are available in the apps, along with the mobility of one-click trading.

Payments

The online forex broker has a distinct minimum deposit requirement for each account type and trading zone. The initial deposits required by the EU company are €10 for the Cent account and €100 for the Standard account.

The minimum deposits for the Cent, Micro, Standard, Zero Spread, and ECN accounts at the worldwide branch are $1, $5, $100, $500, and $1000, respectively. We were glad to find the minimal minimum deposit amount offered in our evaluation.

Wire transfer (EU only), Visa, and electronic wallets are among the options for deposits and withdrawals that are offered.