The broker review series is now coming up with the FBS. Founded in 2009, same with XM, then FBS encountered some difficulties in the beginning years as every start-up broker does. In recent years, FBS has changed fast and succeeded with its tactical trading condition and strong focused team for support. Nowadays, the new FBS grows with 9 million clients spread over 190 countries and stands firm in their final home, the world largest continent, the Asia. For that reason, we present this article today in order to give traders the updated review on XM so that traders can consider another option for their long-lived career, especially in the Asian regions. Here is the content:
- Payment System and Customer Support
- Payment System
- Customer Support
- FBS Awards
- Trading Condition
- Bonus Program
- Account Types
Payment System and Customer Support
Payment System should be mentioned first, as it directly affects all traders, especially those people in FBS homeland. As many brokers locate the headquarter in the Western and the US, the citizens can simply go to the local bank to deposit and withdraw money. However, it’s not the same in Asia, where the forex market is restricted in many regions. Fortunately, FBS has great advantages in this field as one of the online generation brokers.
At FBS, both local bank transfer and e-wallet system are accessible with fast transaction speed. Here it takes just half an hour to the wire transfer, while other brokers have you waiting for hours, or even days.
With online services, FBS execution speed stands seconds, only after Exness instant transaction access. There are also regional offices in many Asian areas, where traders can find direct support if getting any trouble with the payment.
Customer Support: Doesn’t have over 30 tongues multi-language support like XM or Exness, but FBS services in Asia is well-rounded. For non-English traders, they have regional offices in China, Korea, Egypt, Indonesia, Malaysia, Thailand, and Myanmar. They are open on weekdays with the local staff members, where you can find face-to-face support with no language barrier, always ready for questions and answers. FBS online chat support is available 24/7 in English, and traders can even ask broadcasters to recall for the later help. That shows how dedicated FBS is to their clients, especially in the Asia areas.
Time can witness the hardship FBS has overcome and the accomplishment that FBS has got. 2015, Best Forex Brand – Asia 2015, Best Safety of Client Funds Asia 2015. 2016, Best Customer Service Broker Asia 2016, Top IB Program 2016. Then, FBS marked their special care to Indonesian clients after the storm damage in 2017, hence the award for the restoration of damaged roads and houses reconstruction for the villagers – issued by the Government of Indonesia in 2017. More can be found out on their site.
Regarding regulation, the license from financial authority is usually the first component traders consider. The issue gets the critical attention of Asian traders, for forex is restricted at where they live. So, the more the regulation, the better – as most people think. However, the more the regulation brokers posses, the tighter the trading condition. That’s not what FBS seeks while a single license is strong enough. Started with South Africa passport, the IFSC, the broker was later regulated by CySEC. Then, when FBS saw the Asian region potential, they changed fast to match up the clients there. And in the Indochina Peninsula, FBS name can blossom at last.
Note: In 1973, the state control of the forex trading market ended, and the complete floating of the forex business began. To ensure the fair trading whence, financial authorities have its power to define brokers’ standards and regulate brokers’ conduct, and even to issue the indefinite ban.
Bonus Programs is to encourage loyal traders and also attracts new clients, which includes: Welcome or Sign-up bonus, Deposit bonus, and Lot back bonus. The Welcome bonus from FBS names ‘123’ for – the highest ever – $123 incentive bonus. FBS Deposit bonus is notable for the rate of 100%. The cashback program rebates $7 for each lot traders complete.
Commision is the expense that traders pay brokers for fulfilling an order, and also FBS main income. The rates of commission in FBS are different between each account types. The condition for the Cent and Standard accounts are free, and for the Zero Spread account is another 20, as mentioned above.
Spread is the difference between the price of selling(bid) and that of buying(ask) for a currency pair, from which brokers take a little part as the service charge. Most traders love to do trade with low-spread brokers, and FBS allows that condition that lay in the Top Lowest Spread. The range is from 0.2 to 1.1 pip, lower than those of XM, FXTM, FXCM, etc.
Note: Recently, FBS also offers the new $50 bonus program. Sign-up, verify, then $50 will be added to your account immediately.
FBS offers four account options: the Cent Account, Standard Account, Fixed Spread Account, and the always-high-of-volatility ECN Account.
Cent Account is special for novice traders with the real trading condition, so real loss and real pressure, but super low $1 the minimum required deposit – only after Exness Cent Account with no such requirement. Besides, the order is 0.01 lot Cent, the spread is low, and commission, free, are the advantages for new traders, who usually dare not to lose a penny.
Standard Account is for the experienced. Minimum requirement $100 deposit; 0.5 pips – the lower the spread the better; the high leverage 1:3000 (XM’s Standard leverage is lower, 1:888), and similar to the Cent Account, free commission. There is also the 100% rate Deposit bonus to keep clients on the FBS site.
Fixed Spread Account needs a little stronger and bigger hands. Slightly different with the Standard. Fixed Spread is spread-free, so as the name of Zero Spread Account, but higher the commission in return, $20. More than that, Fixed Spread Account minimum deposit is $500, which needs more gamble to handle.
ECN Account is always for experts exclusively. In FBS, the ECN requires a considerably high minimum deposit, $1000, but the commission is lower ($6) compared to many other brokers ($7). The condition is relevant with long-term and on-screen traders, which is also applied by Exness($5) and XM($6).
Nine years is not a short time, that no scam brokers endure for long-term money, and FBS is just slow in the beginning years. In Asia, you can find at FBS the professional and fast payment services and also the team of top support. There are multiple account types for traders to choose with the valuable trading condition. Attractive Forex Bonus, Low Spread and Commission, Decent Trading platform. FBS comeback does not illustrate by just a long list of award, but also their timing changes in their new hometown, Asia. It could be predicted that FBS is a promising broker for Asia traders, who can find special care and stable business here.
Thanks for your reading. See you next time.