Let me tell you about my complicated relationship with FBS. This Cyprus-regulated broker has been around since 2009, and I've had an on-again, off-again affair with them since 2016. Some days I love their flexibility, other days I want to throw my monitor out the window. Here's the unvarnished truth about trading with FBS.
First Impressions: All That Glitters...
FBS broker greets you with more bonus offers than a Las Vegas casino. "$100 no-deposit bonus! 100% deposit match!" It's all very shiny until you read the fine print and realize those bonuses come with trading volume requirements that would make a Wall Street quant sweat.
Account opening took me 9 minutes flat - suspiciously fast. Verification dragged on for 28 hours (I timed it), requiring the usual "hold your ID next to your face" ritual that always makes me feel like a criminal. They're regulated by CySEC and IFSC, which means... well, at least it's not complete anarchy.
Trading Conditions: The Illusion of Choice
FBS offers account types like a diner offers pie:
Standard Account:
- Spreads from 1 pip (looks decent)
- No commissions (music to newbie ears)
- Reality check: spreads balloon to 15+ pips during volatility
Zero Spread Account:
- "Zero" spreads (with $20/lot commission)
- Basically their ECN account in disguise
- Actually decent for serious trading
Cent Account:
- For traders who think $10 is serious capital
- Spreads from 1 pip
- Basically a demo account with real money
Here's the kicker - their "Zero Spread" account isn't actually zero spread. During news events, you'll still see spreads widen like a yawning chasm. Marketing at its finest.
Execution Quality: Fast When It Doesn't Matter
FBS's execution is:
- Lightning fast during calm markets (I've seen sub-30ms fills)
- Unpredictable during news (like Russian roulette)
- Occasionally "creative" with stop losses
I've had NFP trades execute with minimal slippage, and other times watched my limit orders get ignored like bad Tinder matches. Their "No Requotes" policy? Let's just say I've had orders requoted more times than I've had hot coffees.
Platforms: Surprisingly Not Terrible
FBS offers:
- MT4/MT5 (standard versions)
- FBS Trader (their mobile app)
- WebTerminal (functional but basic)
Their mobile app is shockingly good - like "why don't more brokers do it this way?" good. One-tap trading works smoothly, charts load fast, and it doesn't crash every five minutes. Small victories.
What's missing? cTrader. For a broker of FBS's size, this omission feels increasingly odd in 2024.
Deposits & Withdrawals: The Russian Roulette
Here's the reality:
- Deposits: Instant (e-wallets) to 3 days (bank wires)
- Withdrawals: 1 hour to 72 hours (no discernible pattern)
- Fees: Mostly covered by FBS (but read the fine print)
I've had withdrawals process in 47 minutes (crypto) and others take 68 hours (bank wire) with no clear reason. Their support will blame "payment processors," which is broker-speak for "we don't actually know."
Customer Support: A Study in Patience
FBS support exists in three states:
- Remarkably helpful (20% of the time)
- Reading from a script (65%)
- Completely MIA (15%)
I once waited 39 minutes in live chat to ask about swap rates, only to be transferred three times. Email responses can take 24+ hours. Phone support exists but feels like an afterthought.
The Leverage Game: How Much Is Too Much?
Depending on regulation:
- EU clients: 1:30 (thanks ESMA)
- Global clients: Up to 1:3000 (yes, three thousand)
- Professional accounts: Whatever the risk manager had for breakfast
That 1:3000 leverage isn't a typo. It's also financial suicide - fun until it's very much not. FBS does at least have decent margin call protocols to prevent negative balances.
Copy Trading: The Good, The Bad, and The Ugly
FBS CopyTrade is... an experience. The technology works, but the selection of master accounts ranges from "legit profitable traders" to "obvious martingale gamblers." I once saw a "master" with 300% monthly returns being prominently featured. Buyer beware.
Education & Research: Surprisingly Not Awful
Here's where FBS exceeds expectations:
- Daily technical analysis (actually useful)
- Trading webinars (no fluff)
- Economic calendar (well-integrated)
- Market news (timely updates)
For a broker that feels mass-market, their educational content is legitimately helpful. I've learned more from their webinars than some paid courses.
What Real Traders Are Saying
The forum consensus:
- "Withdrawals eventually come through"
- "Avoid trading news events"
- "Mobile app is excellent"
- "Bonuses aren't worth the hassle"
- "Support needs work"
Notice the pattern? FBS is adequate but flawed - the definition of a love-it-or-hate-it broker.
Who Should (And Shouldn't) Use FBS?
Good for:
- Beginners needing education
- Mobile traders
- Those wanting flexible leverage
- Traders who avoid news volatility
Bad for:
- News traders
- Large account holders
- Anyone needing premium support
- Those valuing consistency over flash
The Final Verdict: Complicated
FBS is like that talented but unreliable friend - brilliant one day, frustrating the next. They're not a scam (withdrawals do come through), but they're not exactly a premium broker either.
Would I trust them with serious money? Probably not. Would I recommend them to a beginner looking to learn? Sure - just with clear warnings about their limitations.
Final score: 6.8/10 - Perfectly adequate for casual traders, frustratingly limited for serious ones. About what you'd expect from a mass-market broker trying to be all things to all people.
