How can you assess a forex broker? By execution? By licenses? Or by payment system? They are all true but not enough. This article will be reviewing one of the most popular forex brokers – FBS so that you could know what standards we use to do FBS reviews.
Regulations
For regulations, FBS can assure you totally because it has two of the most famous reliable licenses in the market. If you may know, CySEC, which stands for Cyprus Securities and Exchange Commission, is obtained by FBS under the registration number of 353534. FBS also has IFSC (International Financial Services Commission), which regulates it under the number IFSC/60/230/TS/18. Established in 1999, this agency has been monitoring and supervising all financial services providers in the Belize financial industry.
Reliability
How could you check the reliability of a broker? There are many ways to see if a broker is famous and trustworthy or not, but the most simple way is to check their awards. In this term, FBS has an advantage with many precious awards such as “Best Forex Broker Southeast Asia”, “Best Customer Service Broker Asia 2016”, “Best Forex Broker Thailand” and “Best International Forex Broker”. There is also an award from Indonesian Government for disaster relief work that FBS won in 2017. All those awards above can completely approve that FBS is one of the most enthusiastic socially responsible broker in the world.
Account type
A good forex broker should offer many selections for traders in the market, especially the account types that they can use to trade forex. For this part, FBS has 4 different types of account, which are suitable for many kinds of traders. They are: Cent Account, Standard Account, Zero Spread Account and ECN account. Below are the features of each account type for your consideration:
Cent account:
$1 of minimum deposit requirement, just like Exness minimum deposit
Spreads are floating
No commission required
Leverage is 1:1000
Executed by market
Standard account:
$100 of minimum deposit requirement
Spreads are floating
No commission required
Leverage is 1:3000
Executed by market
Spread account:
$500 of minimum deposit requirement
Spreads are fixed
Commission required
Leverage is 1:3000
Executed by market
ECN account:
$1000 of minimum deposit requirement
Spreads are floating
Commission required
Leverage is 1:500
Executed by ECN
Commissions & Spreads
As you can see above, there are 2 types of spreads: fixed spreads and floating spreads. All of them are very competitive in the market and are at the benchmark of industry average. While floating spreads start with 0.2 pips, fixed spread’s minimum is 3 pips initially.
Deposits & Withdrawals system
Payment system of FBS is considered one of the best payment systems in the market. Why so? Let’s go more details in the features. FBS has more than than 70 different types of payment methods, while no other best forex brokers 2019 that I have known in the market could have this number of payment methods. It is various from major credit cards, bank wire transfer, and e-wallet.
For the payout time, it depends on each type of payment method that you choose. E.g: if you use your credit cards to pay, the maximum payout time is about 48 hours, while e-wallet has the faster and more instant payout time.
Bonus & Promotions
FBS has many attractive bonuses and promotions, which are $50 welcome bonus, the Bonus 123 and the 100% deposit bonus. Traders can even have a chance to win an iPhone X with a promotion offered at FBS.
Customer Support
This is one of the most important parts in forex nowadays. With FBS, it has built a comprehensive educational center and a detailed FAQ. Its customer service is also supportive with 24/7 online service for all traders in the market.
Ryan Myers is a business blog author and writer. He graduated from the University of California, Berkeley in 2009 with a degree in Political Science. His favorite topics to write about are blogging for small businesses and becoming an entrepreneur.
