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Want a low drawdown, non-martingale trading robot?Perfect for conquering prop firm challenges!

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Writer : Gerhard Waters


💡 Forex Brokers 💡


- Forex Brokers - FBS: Broker with Zero Spread - Foreign exchange (forex) trading involves exchanging one currency for another in the hopes of profiting from shifts in exchange rates. To trade forex, you need access to the market, which is typically achieved by opening an account with a forex brokerage.


📖 Forex brokerages provide traders with a trading platform and access to the currency market. They earn money by charging commissions and spreads on trades. With technological advancements making forex trading more accessible, the number of retail traders and forex brokers has grown significantly over the past decade.

📖 Choosing the right broker is important, as trading conditions, fees, customer support and security can vary greatly between brokers. FBS is one of the many options traders have when selecting a forex brokerage. This review takes an in-depth look at the offerings, services and reputation of FBS to help traders evaluate if it is the right broker for their needs.

Overview of FBS Brokers (➕)

📖 FBS Brokers was founded in 2009 in Cyprus and is one of the largest online brokers in the world today. The broker serves clients across over 190 countries and has over 50 million registered clients.

📖 FBS Brokers operates under the regulation of IFSC Belize and specializes in providing Forex and CFD trading services to retail traders globally. The broker's head office is located in Cyprus.

Some key facts about FBS Brokers: (➕)

- Founded in 2009 in Cyprus (➕)

- Regulated by IFSC Belize (➕)

- 50+ million registered clients (➕)

- Clients from over 190 countries (➕)

- Specializes in Forex and CFD trading (➕)

- Head office located in Cyprus (➕)

📖 FBS Brokers has grown significantly since its founding over 10 years ago and continues to be one of the leading online brokers internationally. Its large client base and global presence make it a popular choice for retail traders looking to trade Forex and CFDs.

Account Options (➕)

📖 FBS Brokers offers several different account types to suit traders with varying needs and experience levels. These include:

📖 - Micro Account : This is FBS's basic account option designed for newer traders. It requires a minimum deposit of just $5 to get started. The maximum leverage offered is 1:1000.

📖 - Standard Account - : The Standard account requires a minimum deposit of $100. It offers maximum leverage of 1:500. This account offers tighter spreads than the Micro account.

📖 - Zero Spread Account - As the name implies, this account offers zero spread trading. It requires a minimum deposit of $500. The maximum leverage is 1:3000. This account type is recommended for expert traders focused on scalping strategies.

📖 - ECN Account - The ECN account provides direct access to liquidity providers through an electronic network. Minimum deposit is $500 and maximum leverage is 1:200. Traders can take advantage of tight spreads but commissions apply per trade. This account is ideal for high volume traders.

📖 - Cent Account- This account enables trading in cents rather than standard lot sizes. It requires a $10 minimum deposit. The max leverage is 1:1000. The cent account allows you to trade in smaller increments.

📖 - Unlimited Account- FBS's Unlimited account has no minimum deposit requirement. It provides 1:2000 max leverage. This account is designed for investors ready to trade with large amounts of capital.

📖 Overall, FBS Brokers offers accounts to meet the needs of traders at every experience level. The low minimum deposits make it easy to get started. And features like zero spread trading provide benefits for active traders.

Trading Platforms (➕)

📖 FBS offers its clients a choice of four different trading platforms:

📖 - FBS Trader : This desktop platform is available for Windows, MacOS, and Linux operating systems. It has an intuitive interface with customization options, advanced charting tools, and one-click trading execution. The platform supports automated trading through Expert Advisors (EAs).

📖 - FBS CopyTrade : This innovative platform allows traders to copy successful strategies from other traders automatically. You can browse trader statistics and performance data to find the best traders to copy. The feed also shows all copied trades in real-time.

📖 - MetaTrader 4 : MT4 is one of the most popular trading platforms in the industry. It has advanced charting capabilities, a range of technical indicators, extensive backtesting options, and a built-in programming language for EAs. FBS offers MT4 for desktop, web, and mobile.

📖 - MetaTrader 5 : The latest generation platform from MetaQuotes adds more advanced analytics, additional timeframes, more pending orders, and deeper market exposure with 5 more instruments. FBS offers MT5 for desktop, web, and smartphones.

📖 All the platforms have an intuitive, user-friendly interface. The layout is highly customizable with drag-and-drop tools, and charting has a full range of analytical tools. For beginners, FBS provides video tutorials and user guides to get started. More advanced traders can utilize the programmable platforms to automate their strategies. Overall, FBS offers an excellent choice of platforms to suit different trading needs and styles.

Spreads and Commission (➕)

📖 FBS offers competitive spreads starting from 1 pip on major currency pairs like EUR/USD. The average spread on EUR/USD is around 2 pips during normal market conditions. These floating spreads are very tight and compare favorably to other leading brokers.

📖 For other popular currency pairs like GBP/USD and USD/JPY, average spreads start from 1.5 pips. Spreads on other instruments like commodities, indices, stocks, and cryptocurrencies vary based on market conditions but are quite competitive.

📖 FBS uses a commission-free model on most trading accounts. The only exception is the FBS Pro account, which charges a $20 flat commission per 1 standard lot round turn trade. This means you pay $20 as commission when you open and close 1 standard lot, which is equivalent to $2 per 0.1 lot round turn. The Pro account offers access to even lower spreads in return for the commission fee.

📖 Overall, FBS offers very competitive spreads with most accounts using a zero-commission structure across a wide range of tradable instruments. Their average spreads are lower than the industry standards, providing a cost-efficient trading environment for most traders. The commission option on the Pro account caters to high volume traders looking for the tightest spreads.

Customer Support (➕)

📖 FBS offers customer support through a variety of channels including live chat, email, and phone.

Support Options (➕)

📖 - Live Chat - The live chat feature allows traders to get immediate assistance from support staff 24 hours a day, 5 days a week. Agents are quick to respond and can help with general inquiries, technical issues, and account management.

📖 - Email - Support can also be reached by email at [email protected]. Emails are generally answered within 24 hours. This is a good option for non-urgent inquiries.

📖 - Phone- Phone support is available during regular business hours. Call centers are located globally so traders can speak to agents in their own language and time zone. Phone numbers are provided on the website.

Availability (➕)

📖 FBS aims to provide constant customer support coverage. Live chat and phone lines operate 24/5. Email support is monitored 24/7 with a 24 hour response time. Specific hours for each country are listed on the website.

Languages (➕)

📖 FBS provides support in over 18 languages including English, Chinese, Russian, Thai, Indonesian, Turkish, Spanish, Portuguese, Vietnamese, Polish, Italian, and more. Their global reach allows them to assist traders from almost any country.

📖 In summary, FBS offers comprehensive multi-channel customer service with 24/5 live chat, 24 hour email response, localized phone numbers, and support in over 18 languages. Their global team aims to provide helpful, timely support no matter where traders are located.

Education and Research (➕)

📖 FBS offers a good range of educational resources and analysis tools to help traders learn and improve their skills.

📖 - Educational Resources : FBS has an education section on its website that includes video tutorials, ebooks, and articles covering different aspects of trading. Topics include technical and fundamental analysis, developing a trading strategy, risk management, and psychology. This provides a solid foundation for beginner traders.

📖 - Webinars - FBS hosts free webinars several times a week. These interactive webinars allow traders to learn from FBS analysts and other experts. Traders can ask questions and get them answered live.

📖 - Trading Academy For more in-depth training, traders can enroll in the FBS Trading Academy. This includes video courses, quizzes to check understanding, and a final exam. Those who pass get a certificate. Courses cover topics like identifying trends, chart patterns, using indicators, and more.

📖 - Daily Market Analysis FBS publishes technical and fundamental analysis of the markets each day. This includes trading ideas, support/resistance levels, and trend analysis for popular assets. Traders can use these to inform their trading decisions.

📖 - Autochartist FBS offers Autochartist, an automated technical analysis tool. It identifies potential trade opportunities based on chart patterns and technical indicators. Traders can filter results based on their preferences.

📖 - FBS Analytics Traders get access to FBS Analytics, which includes an economic calendar, live market news feeds, and daily video forecasts. This can help with planning trades around major events and news.

📖 Overall, FBS provides traders with a good set of educational and analytical resources to help improve trading skills. The materials cover both beginner and more advanced topics.

Mobile Trading (➕)

📖 FBS offers mobile trading apps for iOS and Android devices, allowing traders to manage their accounts and execute trades on the go.

📖 The FBS mobile apps provide full functionality of the desktop platforms. Traders can monitor live market prices, place trades, manage open positions, deposit/withdraw funds, and access account history.

Some key features of the FBS mobile trading apps include: (➕)

- Live streaming quotes for forex pairs and CFDs (➕)

📖 - Full range of order types (market, limit, stop orders etc)

- One-click trading from charts (➕)

- Price alerts and push notifications (➕)

- Economic calendar integrated into the app (➕)

- Secure login with fingerprint or face recognition (➕)

📖 The apps allow traders to easily manage their accounts anytime, anywhere. Charts and tools are optimized for mobile screens. Traders can analyze markets and act fast on trading opportunities using the mobile apps.

📖 Overall, FBS offers robust mobile trading platforms for Android and iOS with full functionality mirroring the desktop experience. This allows traders to execute trades and manage their accounts conveniently on mobile devices.

Security and Regulation (➕)

📖 FBS is regulated by the International Financial Services Commission (IFSC) in Belize. The IFSC license number is IFSC/000102/310.

📖 As an IFSC regulated broker, FBS must comply with strict standards for capital adequacy, segregated accounts, anti-money laundering procedures, and other risk management controls. Client funds are held in segregated accounts at top-tier banks, providing security in the event of broker insolvency.

📖 The IFSC requires brokers to maintain a minimum level of operational capital and submit to regular audits. FBS is in compliance with their capital requirements.

📖 FBS is also a member of The Financial Commission, an independent self-regulatory organization that provides dispute resolution services and external oversight of member forex brokers. This provides an added layer of protection for traders.

📖 While Belize is considered an "offshore" jurisdiction with less stringent regulation than countries like the UK or Australia, FBS adheres to many of the same standards through its IFSC licensing. Overall, traders can have confidence their funds are secure and FBS operates ethically. However, risks are still present compared to more developed regulatory regimes.

📖 As with any broker, it's recommended traders use caution and practice good risk management. But FBS does take regulation seriously and makes an effort to maintain high standards. For traders seeking an offshore broker with proper licensing, FBS is a reasonable option to consider.

Pros and Cons (➕)

📖 FBS Brokers offers traders a mix of advantages and disadvantages compared to other brokers. Here is a summary of the key pros and cons:

Pros (➕)

📖 - No minimum deposit to open an account. Can open an account with as little as $1.

📖 - Free educational resources and trading tools like an economic calendar, e-books, and webinars. Helpful for new traders.

📖 - Allow scalping and hedging. Useful trading strategies not permitted by all brokers.

📖 - Support available in over 20 languages. This includes 24/5 multilingual customer service.

📖 - Strong regulation in multiple jurisdictions like Cyprus, Abu Dhabi, etc. Provides security for traders' funds.

Cons (➕)

📖 - Limited research and market analysis compared to other brokers. Not ideal for active traders.

📖 - Higher spreads and commissions than some competitors. Reduces potential profits on trades.

📖 - Mobile app only available for Android and iOS. No dedicated mobile app for other devices.

📖 - Customer service response times can be slow during high volatility. Priority seems to be email support.

📖 - Limited range of tradable assets. Mostly forex and metals. Lacks stock and crypto CFDs.


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