FBS Singapore Review

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FBS Review Singapore

Singapore is a major hub for Forex trading, it hosts several local offices of well-known Forex brokers. FBS trading is a Cypriot Forex Broker owned and operated by Treadstone Limited, headquartered in Limassol, Cyprus. The brokerage was established in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySEC), license number 331/17. Since its inception, FBS has received more than 40 international recognitions and awards and is home to 13,000,000 traders. According to the FBS broker, 7,000 new accounts are opened every day. And FBS accepts and processes a withdrawal request every 20 seconds. So, read this FBS Review Singapore and trade with them.

In addition, 80% of FBS clients are loyal to brokers, and 48% of inventory trading revenue is generated as their main source of income on FBS. As a truly global fx broker, FBS serves clients in 190 countries and expands its market share daily. The 24/7 customer service team typically responds to requests in less than 30 seconds and speaks multiple languages. Negative balance protection provides another level of security and protects traders from critical market developments and volatile price changes. FBS accepts traders from Singapore.

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Start Trading with FBS

FBS trading allows Singapore traders to invest in the world’s largest trading market. Therefore, it is easy to invest in FBS Singapore to own your emotional and financial stress level. Coin pairing is the main feature you need to know. A pair is a combination of two currencies, such as the US dollar and the euro. Understanding the relationship between each team is vital in Singapore and understanding the difference between the two.

Trading software is essential for both beginners and expert FBS traders in Singapore. The primary purpose of this software is to analyze for you all the pre-set parameters of your trading and stock exchange options. The purpose of this FBS review Singapore is to help Singaporean traders make enlightened financial decisions based on those currencies so that they are likely to get their profits back. Most importantly, Forex trading software can work with or without Singaporean traders. This means that for busy professionals and students, there is an expectation of a modest profit when joining both school and work at the same time.

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  • Website: fbs.com
  • Country: Belize
  • Regulation: CySEC, IFSC
  • Established: 2009
  • Maximum Leverage: 1:3000

Regulation and Security

Tradestone LTD is an investment firm registered in Cyprus (company registration number 353534) and regulated by the Cyprus Securities and Exchange Commission (CySEC license number 331/17). Cyprus is part of the European Union and offers a great mix of controls and independence to operate as a global financial institution. Before obtaining the CySEC license, the firm provided services from its Belize-registered subsidiary and was well-known for its valuable market expansion. Since the acquisition of the license, Singaporean traders can be assured that their funds are secure, and the regulator ensures that the FBS complies with the legal and regulatory framework guidelines.

As a member of the EU, Cyprus is subject to the FBS regulatory framework as outlined in the Markets in Financial Instruments Guidelines (2004/39 / EC) or MiFIID. It has been in effect since November 2007 and aims to create and maintain a high level of consistent protection for investors in financial instruments. MiFIID II, launched in January 2018, and designed to strengthen investor protection and increase transparency.

In June 2015, the EU published its 4th Anti-Money Laundering Guidelines, representing the most stringent AML laws across Europe. As of June 2017, all EU member states are involved and comply with the rules set out in the FBS guidelines. Also, FBS is a member of the Investor Compensation Fund (ICF), which ensures that eligible retail clients will be reimbursed if they fail to comply due to the financial problems described in their broker fund.

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FBS Review Singapore – Fees

The broker generates its revenue primarily from spreads that differ between the bid and query prices and the conversion rate charged for holding overnight positions. FBS does not offer ECN accounts and therefore does not charge trading commissions. The spread starts less than 1.0 pip and increases depending on the liquidity of the currency pair. In addition, the broker offers “dream-free Islamic accounts” to offer their services to Muslim traders who are prohibited from accepting or charging interest by their faith.

Forex traders activate this type of account while other traders can check the exact exchange rates from inside their Metatrader4 platform by following these steps:

  1. Right-click on the desired button in the “Market Watch” window and then select “Symbols.”
  2. Choose the desired currency and then click on the “Properties” located on the right side.
  3. Scroll down until you watch “Swap Long” and “Swap Short.”

In addition, Forex traders can use the FBS Trading Calculator to get complete information on a trade before entering it.

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What Can I Trade

FBS offers a limited selection of assets, including only 28 currency pairs and two metals. In addition, the contract specifications are different for their standard account and their cent account. Overall, the pick should be minimal and not sufficient for professional clients.

Account Types

FBS trading extends its limitations to trading accounts where it offers two types, a standard account, and a cent account. Main difference is the minimum deposit which starts from $/€ 10 and $/€ 100 for cents account. The lowest spread between the two is a floating one starting at 1.0 pip, and the highest leverage is 1:30. Cent account has a maximum order volume of 5 standard lots (1 standard lot equals 100,000 units), whereas the standard account view shows this limit has been increased to 500 standard lots. The maximum open/pending position amount is 200, with an initial execution speed of 0.3 seconds.

The cent account is an entry-level account for new forex traders to start with micro-deposits and is most suitable for creating and testing new strategies. Still, it is irrelevant as the minimum deposit requirement for a standard account is very low. Moreover, FBS does not offer traders special trading conditions with high balance or frequent trading activity, a feature that is another unfortunate miss for this Forex broker.

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FBS Review Singapore – Trading Platforms

FBS has expanded its reach to MT4 trading platforms only for Windows, Apple macOS, Android, Apple iOS, and FBS WebTrader. Although MT4 remains the most widely used trading platform for Forex traders, This broker makes no effort to offer traders anything that is not included with the standard operating license of the MT4 trading platform. As a result, many forex brokers do not even pay for a full license and can get their trading platform under a white label partnership with another FX Broker at a fraction of the cost.

The Popular choices, especially for new traders, such as social trading or copy trading, are missing because FBS again sticks to its minimalist approach and offers minimal offers to act as a forex broker. The listed properties are part of the MT4 trading platform and should not be credited to FBS offers.

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Unique Features

During this FBS Review Singapore, we noticed several unique features available to brokerage traders. Of course, FBS rarely does that outside of the standard operating system, but it does those things rather well and is illustrated by the rewards received by the brokerage.

Research and Education

It is good to remember that FBS offers a variety of research, analysis, and educational aspects beneficial for new traders. The market analysis section is divided into Forex News, Daily Market Analysis, and Forex TV. The education section is divided into five sections: Forex guidebook tips, webinars, video lessons, and glossaries for Singaporean traders.

Forex News

Traders have access to Forex News and have the option to filter articles by commodity, currency, stock, and economy. Since FBS does not offer CFD trading, shares of the stock are unpublished for marketing purposes and SEO rather than the benefit of its trader base.

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Forex TV

The Forex TV section has the most attention in the weekly Insights, Daily Trading Plans, Webinars, and FBS sections. This is a great feature and provides the best service to Forex traders. The weekly insights section of FBS may be the most relevant that takes traders through important events marked on the economic calendar. New traders may find daily trading plans valuable, especially if they have not developed their trading strategies. It would be great to see FBS expand its current approach and better use technology to work on what traders see.

Daily Market Analysis

FBS Daily Market Analysis is divided into Technical Analysis and Fundamental Analysis and can offer the best features offered by this broker. As a result, Singaporean Forex traders can easily navigate the study. Still, the scope of each analysis is somewhat limited and refined into a few essential aspects of technical analysis, summarized in one paragraph. On the other hand, the primary analysis is a little more detailed and offers basic coverage of the basics of Forex traders.

Forex Guidebook

The Forex Guidebook is full of educational content and covers the entire spectrum of technical and fundamental analysis. New FBS traders will find this course very useful, and it is divided into four sections: beginner, elementary, intermediate, and experienced. This may be the most helpful feature for new traders offered by FBS and is the perfect starting point for those serious about learning to trade. It’s easy to navigate and packed with examples that make it easy to understand.

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FBS Review Singapore – Customer Support

Customer service is not something that most traders will ever use, but FBS has a multilingual support staff available 24/7 hours. Since the FX market is closed on holidays, it is not clear why support staff will be available or not. In addition, email support is always available.

FBS Review Singapore – Bonuses and Promotions

The CySEC regulated branch of FBS does not offer any special bonuses or promotions to traders in keeping with regulatory policy.

FBS Review Singapore – Opening an Account

Forex traders should open an account online in a few simple steps that have become the norm in today’s forex industry. Regular verification documents are required, and AML and KYC requirements must be met by FS regulator CySEC. Then, before the traders can access their back-office, it will only take a few moments for the registration part from where more documents can be uploaded.

FBS Review Singapore – Opening an Account

Forex traders should open an account online in a few simple steps that have become the norm in today’s forex industry. Regular verification documents are required, and AML and KYC requirements must be met by FS regulator CySEC. Then, before the traders can access their back-office, it will only take a few moments for the registration part from where more documents can be uploaded.

Deposits and Withdrawals

When it goes to deposit options and withdrawal options, FBS sticks to the basics again. Forex traders choose credit cards, bank wire, and Skrill or Neteller, both regulated in the EU. In addition, all deposit fees are waived, which are listed as instantaneous except for standard industrial practice and cable transfer during deposit.

Withdrawal options and deposit options are the same. Forex traders need to be asked to withdraw money the same way the deposit was handled. This is also a common practice in the Forex market. The positive for FBS is that they waive all withdrawal fees, but Forex traders may still face charges from the payment processor. Credit card withdrawal requests are handled on the same business day, bank wires within 48 hours, and Skrill or Neteller requests within a maximum of 48 hours within 15-20 minutes.

FBS Review Singapore – Summary

FBS is a regulated broker in Cyprus and is enjoyed by the EU’s regulatory body. Traders can trade confidently knowing their funds are secure, and FBS quickly complies with all regulatory requirements. The spreads are competitive and start at 1.0 pip on a standard account, but the lack of resources available for trading is disappointing. FBS offers Singaporean traders a minimum of trading assets, platforms, and deposit options but offers well what it provides. An effort has been made in video content and the education of new traders. However, FBS does not offer special bonuses or promotions and sticks with the essentials. Which can help the new traders focus on their core trading strategies without confusion.

FAQs

Where is FBS from?

FBS is based in Limassol, Cyprus.

How does the FBS platform make money?

FBS platform makes money from spreads in currency pairs and trader losses in accounts where the broker acts as their counterparty.

How can traders deposit into an FBS account?

FBS offers credit cards, Skrill, bank wires, and Neteller.

What is the minimal lot size at FBS?

FBS has a minimal lot size requirement of 0.01 standard lots.

Is FBS regulated?

FBS is regulated by (CySEC) the Cyprus Securities and Exchange Commission.

What’s the maximal leverage offered by FBS?

FBS offers maximal leverage of 1:30 in all accounts.

How to open an account with the FBS Platform?

FBS offers a quick and easy online application form.

When is a margin call on FBS?

FBS did not specify any type of levels for its margin call policy on its website.

Does FBS offer the MetaTrader4 Trading Platform?

Yes, FBS offers the full suite of the MT4 trading platform.