FBS Trading Review: Legit or Scam?

Our FBS TRADING REVIEW revolves around a broker-service with a global presence and over 14 years of experience. Nowadays, the broker is active in more than 150 countries and hosts over 27 million traders worldwide. 

What differentiates the brand from other offers is the special company structure as well as the diversified target market. Is FBS legit? And what do investors need to know before investing? All important information in the following article.

FBS – What You Need to Know

FBS is an online-broker that started on forex transactions but offers nowadays a wide range of financial instruments, including CFDs on metals, indices, energy sector, stocks and even crypto-based CFDs. This gives investors all the tools necessary to create a diversified portfolio. The main focus still remains on Forex pairs.

One big advantage of FBS are customized trading accounts, which correspond to different instruments and skill levels. In total, there are 7 different accounts, which differ in their investment instruments, commissions, spread and skill level, just to name a few. 

The following table summarizes the different trading options at FBS. 

Account nameStandardCentProECNCryptoZero spreadMicro
DescriptionFor traders of all skill levels.Low-risk account for small amounts.For large orders and algo trading.Professional account for large orders.For volatile digital currencies.Easier orders and precise predictions.For cautious traders.
Skill levelBeginner Middle ExpertBeginner MiddleExpertExpertMiddleBeginnerBeginner
Leverageup to 1:3000up to 1:1000up to 1:2000up to 1:500up to 1:5up to 1:3000up to 1:3000
Spreadfloating from 0.5 pipsfloating from 1 pipfloating from 0.3 pipsfloating from -1 pipfixed from 3 pipsfixed 0 pipsFixed spread from 3 pips
Commission$0$0$0$6/lot0.05% for opening and 0.05% for closing positionsfrom $20/lot$0
Instrument typesFinancial assets and contracts traded on the markets.36 Forex pairs, 8 metals, 3 energies, 11 indices, 127 stocks, 5 crypto pairs36 Forex pairs, 8 metals, 3 energies, 11 indices, 127 stocks, 5 crypto pairs36 Forex pairs, 8 metals, 3 energies, 11 indices, 127 stocks, 5 crypto pairs28 Forex pairs30 coins, 48 coin-fiat, 25 coin-coin, 10 coin-metal31 Forex pair, 2 metals31 Forex pair, 2 metals
Trading platformsMT4 MT5 FBS TraderMT4 MT5MT4 MT5MT4MT5 FBS TraderMT4MT4

What is FBS and how does it operate in the Philippines?

FBS stands for Financial Brokerage Service and it is a global online forex and CFD broker that provides trading services in more than 150 countries, including the Philippines. FBS offers a range of account types to suit different trading needs, including standard accounts with fixed or floating spreads, and ECN accounts with market execution and tight spreads.

FBS has a wide range of customers, from beginners to seasoned pros. While experts get the best conditions for larger order quantities, beginners can take advantage of a wide range of educational materials, which includes videos, webinars, and articles on the FBS website, the app and its social media applications. 

FBS also offers several account types to cater to the different needs and trading styles of its clients, including a demo account for beginners and several live account types with different trading conditions and features. Therefore, FBS is one of the most customized traders we have heard of. 

The company provides customer support in several languages, including English, Tagalog, and Cebuano, among others. Further, only 3 of 7 possible account types charge commission-fees, the rest don’t.

Is FBS a scam or a legit trading platform?

Is FBS legit or does FBS scam its investors? In our FBS trading review, we couldn’t find any signs that point to a FBS Philippines scam. On the contrary, FBS is a legit platform that is trusted by over 27 million traders worldwide. 

The company has won over 70 awards for a wide range of services, including best conditions, safety and reliability, its mobile application, the FBS IB Program as well as for educational purposes.

Further milestones include: 

  • Everyday 7000 new accounts are opened  
  • Half of the clients multiply their initial deposit by 8-10 times  
  • Every 20 seconds clients make a request to withdraw profits  
  • 80% of FBS clients stay forever with the company

FBS Philippines Reviews: What customers are saying about the platform?

During our FBS review, we checked different review sources to receive a clearer picture from other user experiences. Generally speaking, the platform receives mixed reviews, which is usually a good sign for its legitimacy. While it is praised for its user-friendly interface and great trading conditions, others criticize the slow withdrawal process. The following sources stem from Trustpilot.

Positive reviews:

“Those awards the broker was honored with make it reputable mediator on the market. Moreover, I noticed it has been in operation for almost 15 years. Commendable, but don’t relax guys, you need a lot to develop further.”

“I started from the Cent account instead of the demo account. I feel like the demo is wasting my time. Props to the broker for providing so many types of accounts basically for all the traders regardless of trading background.”

Negative reviews:

“Promo for newbie is with limitations and it is so bad. I just want to learn trading but they cancelled my order because of limitations. I can’t test my knowledge in this bonus account. They suggest demo account but who will learn in demo account if its not real money you lose. I should level up.”

Is FBS safe to use? What measures are in place to protect traders?

FBS is a regulated broker brand that unites companies operated under the oversight of various financial regulatory bodies, including the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities & Investments Commission (ASIC) and the Financial Services Commission (FSC) in Belize. 

Apart from that, the broker implemented a lot of safety nets, which further contribute to the user experience. For instance, the client funds are kept separate from the company’s operating funds and traders can never lose more than their account balance holds.

Overall, while trading always carries some level of risk, FBS is generally considered a safe and reliable broker for traders, thanks to its regulation and the measures it has in place to protect its clients.

Conclusion: Should you trade with FBS Philippines or look for other options?

The FBS review is clear: There is no FBS scam. The company uses legit instruments and marketing tactics, which brought it to the global stage. It is recommended to take a look at review platforms such as Trustpilot to get an entire picture and weigh the pros and cons when opting for the broker service.

With its generous bonuses and promotions for traders, including a welcome bonus, cashback rewards, trading contests and 24/7 customer support, new traders are definitely encouraged to take a closer look.

When considering whether to trade with FBS, it’s important for individuals to carefully evaluate their own trading goals and risk tolerance, and to conduct thorough research into the platform’s features, regulations, and customer reviews before making a decision.

Conclusion: No FBS scam (5 out of 5 points)

About Carson Derrow

My name is Carson Derrow I'm an entrepreneur, professional blogger, and marketer from Arkansas. I've been writing for startups and small businesses since 2012. I share the latest business news, tools, resources, and marketing tips to help startups and small businesses to grow their business.