You may hear about FBS or not but believe me, you will like to trade with FBS after reading this FBS review! Below are some facts about FBS:
- One of the best forex brokers for Asia in 2019 (especially in Thailand and Indonesia)
- Founded in 2009
- Offering up to 35 currency pairs, 4 precious metals, 2 CFD, and cryptocurrencies.
Why is FBS one of the best forex brokers in 2019? Let’s find out with these four features below:
- The credibility
- The trading cost
- The trading conditions
- Support for customer
Do you know which stands for the credibility in forex? It is the regulation. As one of the most important parts in forex system, regulation is always considered by both traders and brokers. Although many brokers think that having more licenses is better than obtaining just one, one regulation is enough. If a country already has a regulation, the broker only needs that regulation to work and serve traders in that country. These are the trusted licenses in the market: ASIC, CySEC, FSA, CFTC, NFA.
In this term, FBS can make you feel assured as it has two of the most trusted licenses from reliable regulatory agencies: CySEC (Cyprus Securities and Exchange Commission) and IFSC (International Financial Services Commission). IFSC is a regulation of South Africa, then traders in this area are safe to work with FBS. Meanwhile, CySEC is an international regulation that everyone in the world can trust in. If your country doesn’t have any regulation, you can also work with FBS as it is regulated by international organization.
The trading cost
There are 3 main parts in trading cost of a broker: spread, commission, and bonus.
*Spread: the difference between the Ask price and Bid price.
The higher the spread, the higher the cost. Therefore, people like to trade with low-spread brokers, and FBS is one of them. FBS’s spread is even lower than that of XM, FXTM, FXCM,…, which is only 0.2 to 1.1 pips for a transaction. Check XM reviews.
*Commission: is the fee for a transaction to traders and the income for brokers
Commission is often the main income for brokers. FBS charges different rates of commission in its trading system. However, there is no commission for Cent and Standard account.
There are many attractive bonuses offered by FBS such as deposit bonus, welcome bonus, or the bonus from the loyalty program. Accordingly, the highest value of a bonus is up to $100; the deposit bonus is paid back to traders as 100% of the deposit amount; while the loyalty program gives back to traders $7 for each traded lot.
Sign up now for $50 instantly transferred to your account!
The trading conditions
When it comes to the trading conditions, I am talking about the payment system. How is the payment system of FBS?
I have to say that FBS has one of the most instant, convenient, and easiest payment systems compared to all brokers in the world. Its transferring speed is so fast that it takes only half of an hour to execute a transaction, while in other brokers, traders often spend more than hours to complete their transferring.
FBS also has the advantage in Asia because it allows people to withdraw and deposit through local banks and e-wallets in Asian countries. US and UK brokers cannot do this thing. They are good in their countries but not in other areas such as Africa, Asia,… They charge Asian people at the high rate (often from 1.7 to 4% of total fund) when traders deposit by credit cards. This rate is unreasonable since the profit rate is 5% monthly while you have to pay 4% of the fund.
Support for customer
Because forex is quite new to many people and it is not easy to new traders, it is necessary to have a group of supporters who help traders with basic things such as logging in, processing the payment, execute a transaction,… It can be said that traders need help all the time. Therefore, you can evaluate a broker by its customer caring and supporting service.
In this term, FBS is among the best. Its support team is very active, friendly, and helpful with 24/7 on live chat and many local offices in big cities of Malaysia, China, Korea,… You can be rest assured of the service in FBS.
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