FBS Review

This FBS review examines a broker that has been part of the retail forex scene since 2009 and is especially popular in Southeast Asia, Latin America and Africa. FBS keeps its international offer deliberately simple: one commission-free Standard account, MetaTrader 4 and 5, its own mobile app, deposits from about $5 and leverage of up to 1:3000.

The short version: FBS is a capable, low-cost entry point for small accounts, but the global brand runs through an offshore company licensed in Belize. Separate companies regulated by CySEC in Cyprus, ASIC in Australia and the FSCA in South Africa serve clients in those regions under stricter rules and with different products.

About FBS

FBS began operating in 2009 and grew quickly by targeting traders in emerging markets with low deposits, local payment methods and heavy promotional marketing. Its client base today is concentrated in Asia, Latin America and Africa.

The international business is operated by FBS Markets Inc. in Belize City. The European arm, Tradestone Limited, is based in Limassol, the Australian company, Intelligent Financial Markets Pty Ltd, is in Sydney, and a South African company operates under FSCA authorisation. Each runs its own website and has its own account terms.

Regulation and safety of funds

Which company holds your money depends on your country:

• FBS Markets Inc., Belize: licensed by the Financial Services Commission of Belize (licence IFSC/000102/124 as published). This entity serves the fbs.com global site, offers the 1:3000 leverage and provides no investor compensation scheme.
• Tradestone Limited, Cyprus: CySEC licence 331/17. EU clients get 1:30 leverage, negative balance protection and Investor Compensation Fund cover up to 20,000 euros.
• Intelligent Financial Markets Pty Ltd, Australia: ASIC AFSL 426359, with retail leverage capped at 1:30.
• Tradestone SA (Pty) Ltd, South Africa: authorised by the FSCA, with leverage up to 1:400.

You can check the EU licence through the CySEC register of Cypriot investment firms. Client funds are segregated at all entities, and the international company also advertises negative balance protection.

Two points deserve attention. First, most clients who sign up via the main website fall under Belize regulation, which provides limited oversight. Second, in 2021 security researchers found an unprotected FBS server exposing customer records; the company secured it within days, but it remains part of the broker’s record.

FBS account types

FBS replaced its old line-up of Cent, Micro, Zero Spread and ECN accounts with a single Standard account on the international site. Regional companies keep slightly different structures.

Costs explained in this FBS review

On the international Standard account, the spread is the only trading cost for forex. Spreads on EUR/USD start from 0.7 pips, while independent measurements put the typical level at around 1.0 to 1.1 pips.

Worked example: one lot of EUR/USD

• At a typical 1.1 pip spread, a round trip on 100,000 units costs about $11.
• No commission is added on the international Standard account.
• Holding the position overnight adds a swap charge or credit, unless you use the swap-free option.

That is average for a commission-free account. Traders who want raw spreads have no such option on the international site, which is a step back from the old ECN account.

Non-trading fees

FBS does not charge deposit fees, and most withdrawal methods are free on its side, though some payment providers apply their own charges. The EU company charges an inactivity fee of 30 euros per quarter after 180 days of dormancy; the international company does not advertise one. The EU entity may also apply a fee to withdrawals requested without any trading activity.

Leverage and trading conditions

The international company offers leverage up to 1:3000 on forex, up to 1:500 on metals and indices, up to 1:200 on energies and up to 1:100 on stock CFDs. Leverage tiers fall as account equity rises, and margin requirements increase around major news releases.

Orders use market execution with a minimum trade size of 0.01 lots. Scalping, hedging and expert advisors are allowed on MetaTrader. Such high leverage means that a move of a fraction of a percent can wipe out a small account, so beginners should choose a much lower setting.

A note on 1:3000 leverage

At 1:3000, a $100 deposit can control a position of around $300,000, which is three standard lots of EUR/USD. A move of just three pips against that position would cost roughly $90, nearly the whole account. The figure looks attractive in advertising but offers no benefit to a disciplined trader who sizes positions by risk rather than by available margin.

A more sensible approach is to set leverage between 1:50 and 1:200 in the personal area and to risk no more than 1% to 2% of equity per trade. Negative balance protection prevents debts but not rapid losses.

Platforms and apps

• MetaTrader 4 and MetaTrader 5 on desktop, web and mobile, with full automated trading support. The EU and Australian companies focus on MT5.
• FBS app, a proprietary mobile platform for iOS and Android that combines trading, charts, funding and account management.

There is no cTrader or native TradingView trading. The former CopyTrade app was discontinued in 2022, and FBS has not launched a replacement copy trading service or PAMM accounts. A free VPS has been available to clients meeting deposit and activity conditions.

What you can trade

The international offer lists roughly 550 CFD instruments:

• More than 70 currency pairs, including many exotics.
• Metals such as gold and silver, and energies including Brent and WTI.
• Around 10 or more stock indices, such as the S&P 500, Nasdaq and FTSE 100.
• Stock CFDs on popular US and European companies.
• A small set of crypto CFDs on the international and Australian entities.

Real shares, ETFs, bonds, futures and options are not offered. The Australian company provides a smaller list of around 140 instruments.

Deposits and withdrawals

Funding is flexible on the international site. FBS supports Visa, Mastercard and Maestro cards, bank transfers, Skrill, Neteller, SticPay, PIX in Brazil, cryptocurrencies and a long list of local bank and e-wallet options in Asia, Africa and Latin America; the company claims more than 200 methods overall.

Most deposits are instant. Withdrawals typically take from 15 minutes to 48 hours to process, and card or wire transfers can take several more business days to arrive. Withdrawals are generally sent back to the deposit method first. The EU and Australian companies support far fewer e-wallets and local methods.

Bonuses and promotions

FBS was once known for generous deposit bonuses and cash-back campaigns. During our checks we could not confirm any active deposit bonus on the international site, and the EU and Australian companies are prohibited from offering bonuses to retail CFD clients. Promotions on the Belize site change often, so read the terms carefully if one appears, particularly any trading-volume conditions attached to withdrawals.

FBS also runs a large partner programme that pays introducing brokers a share of spreads and lets them pass rebates back to clients.

Education, analysis and support

FBS publishes daily market analysis, an economic calendar, a forex guidebook for beginners, video lessons and webinars in several languages. The material is helpful for newcomers, though it lacks the depth of large multi-asset brokers.

Customer support on the international site is available around the clock by live chat, email and phone, with a help centre and callback option. The EU company supports clients 24/5. Languages include English, Spanish, Portuguese, French, Indonesian, Thai, Vietnamese and Arabic among others.

Opening an account

Registration on the international site takes a few minutes with an email address or social login. Before withdrawing you must verify your identity and address, and the broker may also ask you to confirm ownership of the payment method you used. The EU and Australian companies require full verification and an appropriateness assessment before any live trading.

Once inside the personal area, you can open several MetaTrader accounts, adjust leverage and manage deposits and withdrawals from the same dashboard or the FBS app.

Who FBS suits

FBS fits small-budget traders in emerging markets who want a simple commission-free account, MetaTrader access, local payment options and quick withdrawals. EU and Australian residents get a more tightly supervised version with lower leverage.

It is less suited to traders who want raw-spread pricing, copy trading, a wide multi-asset range, or strong regulation outside its EU and Australian companies. Residents of the United States, Canada, Japan, the United Kingdom and several other countries are not accepted.

Rating breakdown

FBS FAQ

Is FBS regulated?

The group holds licences from CySEC (331/17), ASIC (AFSL 426359), the FSCA and the FSC Belize. International clients of fbs.com are served by the Belize company.

What is the FBS minimum deposit?

About $5 on the international site. The EU company requires around 100 euros.

What is the maximum leverage at FBS?

Up to 1:3000 on forex through the international company, 1:400 in South Africa and 1:30 for retail clients in the EU and Australia.

Does FBS offer copy trading?

No. The FBS CopyTrade app closed in 2022 and has not been replaced.

Does FBS have a bonus right now?

We could not verify an active deposit bonus. EU and Australian clients are not eligible for bonuses under local rules.

Final verdict

Judged as of November 2026, FBS is a convenient, low-cost broker for small accounts in emerging markets, with MetaTrader, a capable app and fast local payments. Its simplified Standard account is easy to understand.

The weak spots are offshore regulation for most international clients, the removal of raw-spread and copy trading options, and leverage levels that are dangerous in inexperienced hands. Choose the regulated EU or Australian entity if you are eligible, and keep leverage modest.

CFDs are leveraged products, and most retail accounts lose money when trading them.

See how FBS compares in our top 50 forex brokers ranking, forex brokers by country, regulator and platform and all broker reviews.

Risk warning: Trading forex and CFDs on margin carries a high level of risk. Bonus terms are set by each broker and may change; always check the broker's official terms before claiming.