
Overall, this FBS review summarises the broker as credible for South African traders with very low spreads and commissions. FBS charges low stock and stock index CFD fees and offers 24/7, efficient online support.
🛡️ Regulated and trusted by ASIC, FSC, and CySEC.
🛡️ 2450 New traders chose this broker in the last 90 days.
🛡️ Available for South African Traders. 🇿🇦
Min Deposit
USD $5
Regulators
FSC, ASIC, CySEC
Trading Platform
MT4, MT5, FBS App
Crypto
Yes
Over 27 000 000+ Traders
FBS Review At a Glance
🔎Broker | FBS |
Company Information | |
📅Year Founded | 2009 |
🧑🏻💻Amount of staff | 350+ |
👩💻Amount of active traders | Over 27 Million |
🌐Publicly Traded (Listed Company) | No |
Regulation and Security | |
🛡️Regulation | FSC, CySEC, ASIC |
🌎Country of regulation | Cyprus (CySEC), Belize (FSC), Australia (ASIC) |
💻Account Segregation | Yes |
🪫Negative balance protection | Yes |
🔋Investor Protection Schemes | Yes |
Account Types and Features | |
➕Accounts | Standard Account |
💳Institutional Accounts | Yes |
👨💼Managed Accounts | No |
📇Minor account currencies | USD, EUR |
💰Minimum Deposit | $5 USD |
Trading Conditions | |
🕞Average deposit/withdrawal processing time | 1-3 business days |
🪙Fund Withdrawal Fee | Free, but may depend on payment method |
📊Spreads from | 0.7 pips |
💸Commissions | Yes |
💱Number of base currencies supported | Over 72 |
🚀Swap Fees | Overnight financing fees apply |
📈Leverage | Up to 1:3000 |
📏Margin requirements | 50% |
☪️Islamic account (swap-free) | Yes |
💻Demo Account | Yes |
⌛Order Execution Time | Typically within milliseconds |
📆VPS Hosting | Yes, for eligible clients |
Trading Instruments | |
🧾CFDs-Total Offered | Over 650+ |
🗠CFD Stock Indices | Yes |
⚖️CFD Commodities | Yes |
📜CFD Shares | Yes |
Deposits and Withdrawals | |
💳Deposit Options | Credit/debit cards, bank transfers, electronic wallets. |
💵Withdrawal Options | Must be sent via the same payment method used for deposit |
Trading Platforms and Tools | |
💻Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), FBS App |
👩💻OS Compatibility | Windows, macOS, Android, iOS, Web |
🖥️Forex trading tools | Yes |
Customer Support | |
🗣️Live chat availability | Yes 24/7 |
📱Customer Support email address | support@fbs.com |
📞Customer Support Contact Number | +357 22 010970 |
👾Social media Platforms | Facebook, Twitter, Instagram |
🗣️Languages supported on Website | 6 Languages |
Educational Resources and Support | |
🖺Forex course | Yes |
🧏♀️Webinars | Yes |
📚Educational Resources | Yes |
Partnerships and Programs | |
🪪Affiliate program? | Yes |
👨🏫Amount of partners | 700 000 |
📋IB Program | Yes |
🪙Rebate program | Yes |
👉Open Account | Open Account |
FBS Review – Analysis of Brokers’ Main Features
- ☑️ Spider Chart
- ☑️ Overview
- ☑️ Advantages Over Competitors
- ☑️ Safety and Security
- ☑️ Affiliate Program
- ☑️ Minimum Deposit
- ☑️ Account Types and Features
- ☑️ How to Open and Close an FBS Account
- ☑️ Trading Platforms
- ☑️ Which Markets Can You Trade with FBS?
- ☑️ Fees, Spreads, and Commissions
- ☑️ Deposits and Withdrawals
- ☑️ How to make a Deposit or Withdrawal with FBS
- ☑️ Education and Research
- ☑️ Customer Support
- ☑️ Sponsorships
- ☑️ Cashback Rebates Features and Conditions
- ☑️ FBS Web Traffic Report, Geographic Reach, Limitations, and more
- ☑️ FBS vs XTB vs Tickmill – A Comparison
- ☑️ Corporate Social Responsibility
- ☑️ FBS Alternatives
- ☑️ FBS VPS Review
- ☑️ Our Experience with FBS
- ☑️ Recommendations according to our in-depth review of FBS
- ☑️ Pros and Cons
- ☑️ FBS User Reviews
- ☑️ Our Findings
- ☑️ Conclusion
- ☑️ Frequently Asked Questions
- ☑️ References
Spider Chart
Criteria
Regulatory Standing: 4.2 out of 5
Financial Stability: 3.8 out of 5
Trading Platform Quality: 4.5 out of 5
Customer Support: 4 out of 5
Educational Resources: 3.5 out of 5
Trading Conditions: 4.3 out of 5
Withdrawal Speed: 4.1 out of 5
FBS Overview
FBS is a popular online forex and CFD broker that is particularly enticing to South African traders due to its robust regulatory environment, which includes oversight by the Cyprus Securities and Exchange Commission (CySEC).
FBS, founded in 2009, has targeted its offerings to beginner and seasoned traders. Its user-friendly interface streamlines navigation through numerous trading instruments, such as forex pairs, commodities, equities, and cryptocurrencies.
A significant feature of FBS is the offer of enormous leverage, up to 1:3000 for some instruments. This function is especially beneficial for experienced traders in South Africa who have a thorough understanding of the industry and want to expand their trading potential.
However, it is critical to recognize the increased dangers associated with excessive leverage, which necessitates a cautious approach. FBS caters to various trading demands by offering a single trading account with flexible trading conditions, benefiting
different trading styles and degrees of skill.
The platform’s connection with MetaTrader 4 and MetaTrader 5, known for their dependability and comprehensive trading tools, enhances the trading experience even further.
These platforms provide advanced charting capabilities, a profusion of indicators, and automated trading options, which are significant advantages for South African traders.
FBS – Advantages Over Competitors
The broker has the following advantages over competitors:
- With leverage up to 1:3000, FBS allows traders to amplify their trading positions, which is advantageous for those who understand and can manage the related risks.
- Traders who prefer or require interest-free trading can use the Swap Free option.
- The broker is licensed by several respectable agencies, including the IFSC, CySEC, and ASIC, ensuring high security and compliance for traders.
- The broker provides customer service in different languages, convenient for South African traders who want to communicate in their language.
- FBS enables mobile trading, allowing traders to manage and monitor their trades while on the road.
- The platform supports up to 500 open positions and pending orders, making it suitable for active and professional traders.
- Traders can trade in various order volumes, from 0.01 to 500 lots, to accommodate multiple trading methods and risk appetites.
- FBS’s market execution starts at 0.01 seconds, ensuring swift and reliable trade execution, which is critical in volatile markets.
- Forex, metals, indices, energy, exotic Forex pairings, stocks, and cryptocurrencies are among the trading instruments available from the company.
Min Deposit
USD $5
Regulators
FSC, ASIC, CySEC
Trading Platform
MT4, MT5, FBS App
Crypto
Yes
Over 27 000 000+ Traders
Who will Benefit from Trading with FBS?
Traders seeking a cost-effective and flexible trading platform can profit the most from FBS in South Africa. Small-scale and beginner traders, in particular, will benefit from the low initial deposit and the absence of commission fees. This allows them to enter the market without requiring significant resources.
The broker will also appeal to active and day traders because of the high-leverage choices and the ability to trade up to 500 open positions and pending orders simultaneously. This meets their requirement for performing several trades and strategies.
Furthermore, experienced traders who use complex techniques and demand a variety of trading instruments would profit from FBS’s extensive inventory. The availability of MetaTrader 4 and MetaTrader 5 platforms with improved trading tools and features will entice these traders, allowing them to analyze markets and execute trades successfully.
Finally, traders who are hesitant or new to the forex market will benefit from the demo account option. It enables individuals to practice and refine their trading skills without risking their money. Those who want or demand swap-free trading due to personal financial beliefs or tactics will also find FBS agreeable.
Does FBS offer a VPS service?
Yes, FBS offers a VPS service.
Does FBS have a cashback rebate system?
Yes, FBS offers a lucrative cashback rebate system for Introducing Brokers.
Safety and Security
FBS is regulated by several respected agencies, including the FSC, CySEC, and ASIC, which ensures high security and compliance for traders.
Global Regulations
🔎 Registered Entity | 🌎 Country of Registration | 📉 Regulatory Entity | ⏩ Tier |
1️⃣ FBS Markets, Inc. | Belize | FSC | 3 |
2️⃣ Tradestone Ltd | Cyprus | CySEC | 2 |
3️⃣ Intelligent Financial Markets Pty Ltd | Australia | ASIC | 1 |
Protection of Client Funds
🔎 Security Measure | ↪️ Information |
🔒 Segregated Accounts | Yes |
🔏 Compensation Fund Member | Yes |
🔐 Compensation Amount | 20,000 EUR or 90% of the claim (under CySEC regulation) |
🔓 SSL Certificate | Yes |
🗝️ 2FA (Where Applicable) | Yes |
🔑 Privacy Policy in Place | Yes |
🔒 Risk Warning Provided | Yes |
🔏 Negative Balance Protection | Yes |
🔐 Guaranteed Stop-Loss Orders | None |
Security while Trading
FBS’s safety and security features are critical considerations for South African traders who are choosing the platform for their forex and CFD trading requirements. As a broker regulated by multiple financial institutions, FBS is committed to adhering to international and local regulatory standards.
This multi-jurisdictional regulation is especially encouraging for South African traders because it suggests that FBS operates under stringent norms and control, increasing the platform’s credibility.
FBS follows industry best practices regarding fund security, such as maintaining client funds in separate accounts.
This separation of firm and customer funds ensures that traders’ capital is never used for anything other than trading. These separate accounts protect the traders’ capital in the unusual event of financial discrepancies or the broker’s insolvency.
Furthermore, FBS’s adherence to international regulatory requirements necessitates the deployment of strong data protection safeguards.
This includes safeguarding clients’ personal and financial information using powerful encryption technology, which is critical in the digital age of data breaches and cyber-attacks. This ensures that South African traders’ sensitive information is safe, lowering the risk of unauthorized access and fraud.
Pros and Cons – Regulation and Safety of Funds
✅ Pros | ❌ Cons |
FBS is regulated several respectable agencies | Regardless of negative balance protection, traders can still lose their invested capital |
Eligible traders can qualify for investor protection | FBS is only regulated by one Tier-1 regulatory entity |
What security measures does FBS have in place?
FBS secures user data and financial transactions with modern encryption technology.
How can I ensure my account is secure?
FBS maintains customer funds separate from the company’s operational funds in segregated accounts.
Min Deposit
USD $5
Regulators
FSC, ASIC, CySEC
Trading Platform
MT4, MT5, FBS App
Crypto
Yes
Over 27 000 000+ Traders
FBS Partnership Program
The FBS partnership program provides South Africans with an excellent opportunity to start their own business with no initial investment. By becoming a partner, you can earn significant income by referring new clients to FBS. The more these customers trade, the more money you can make.
The first step in this fantastic adventure is to open a Partner account. FBS offers partners some of the best conditions in the market. You can earn large commissions on your clients’ trading activities, potentially earning up to 43% of the spread, making it one of the most profitable payment systems.
The FBS affiliate program distinguishes itself by its convenience. Daily commissions are credited to your Partner account, providing consistent income. You can withdraw your gains at any time, and FBS offers a variety of payment methods to meet your needs.
Your partner commission calculation is simple and based on your clients’ trading actions. Depending on your grade, you can earn up to 43% of their spread. The higher your grade, the more money you could make, making it a profitable venture.
FBS also offers many tools and services to assist you in growing your affiliate business. You can use advertising materials, website banners, social media, and offline materials to reach as many clients as possible.
Furthermore, FBS also provides a Help Centre and helpful articles to help you maximize your earning potential through the affiliate program.
How to open an Affiliate Account with FBS
To register an Affiliate Account, South African traders can follow these steps:
- Opening an affiliate account with FBS is simple. It is meant to assist traders, particularly those in South Africa, increase their revenue. To open an affiliate account, navigate to the official FBS website using your chosen web browser.
- Navigate to the “Partners” area on the homepage’s main menu.
- Locate and click on the “Become a Partner” link in the “Partners” section.
- You will begin the affiliate program registration procedure by clicking this link.
- You will be presented with a registration form in which you must enter personal information such as your name, email address, and phone number.
- After completing the form, press the “Submit” or “Register” button to submit your application.
- After you submit your application, FBS will review it as soon as possible.
- If your application is accepted, you will receive email instructions on accessing and managing your affiliate account. The approval procedure is often quick, allowing you to begin your affiliate adventure immediately.
- Being an FBS affiliate provides various benefits, making it a profitable possibility for South African traders. Affiliates benefit from attractive commission rates, a wide range of marketing materials, and personalized support from the FBS team.
Consequently, the FBS affiliate program is a great extra source of revenue and a well-supported initiative for individuals looking to increase their earnings in the trading area.
What information is required for FBS affiliate account registration?
You must provide basic information such as your name, email address, and phone number.
Can I track my FBS referral performance in real-time?
Yes, the affiliate dashboard includes real-time tracking and performance statistics.
FBS Minimum Deposit
The minimum deposit required to open an FBS Standard Account is USD 5 or R90 ZAR.
Can I start trading immediately after making the minimum deposit?
Yes, you can start trading immediately after making the required minimum deposit.
Is the minimum deposit refundable?
According to FBS’s withdrawal restrictions, you can withdraw your deposit if you decide not to trade.
FBS Account Types and Features
🔎 Live Account | 💴 Minimum Dep. | 📈 Average Spread | 💷 Average Trading Cost |
🥇 Retail Account | 90 ZAR/$5 | 0.7 pips | 7 USD |
FBS Account
FBS provides a bespoke trading account for South African traders to accommodate various trading tastes and experience levels. This account is famous for its simplicity and adaptability, making it an excellent alternative for beginner and experienced traders.
One of the most appealing aspects of the FBS retail account is its low entrance barrier. The first deposit requirement is set at a low level, starting from 90 ZAR / $5.
This low deposit threshold appeals to inexperienced traders or those wanting to begin trading with a more minor capital input, decreasing financial risk. Furthermore, the retail account from FBS also allows more experienced traders to evaluate the platform’s features and trading conditions without initially committing a large sum of money.
💵Minimum Deposit | 90 ZAR ($5) |
📈 Average spread | Floating, from 0.7 pips |
💷 Commission | None; only the spread is charged |
📉 Leverage | Up to 1:3000 |
📊 Maximum opening positions | 500 |
💹 Order volume | Between 0.01 to 500 lots |
📌 Market Execution | From 0.1 seconds, STP |
📍 Trading Platform | FBS App MetaTrader 4 MetaTrader 5 |
↪️ Tradable Instruments | Forex Metals Indices Energies Stock CFDs Crypto CFDs |
☪️ Swap-Free Islamic Option | Yes |
🚀Open Account | Open Account |
Demo Account
FBS offers a diverse demo account that caters to different trading tastes. This account is very useful for both new and experienced traders in South Africa, allowing them to experiment with different trading environments and features.
The demo account provides a risk-free platform for South African traders to improve their trading techniques and familiarize themselves with the platform’s many tools and indicators. This boosts their ability to make informed trading decisions in live market conditions.
This continuous access to the demo account guarantees that traders may continue to hone their trading skills and study the platform’s potential without risking their money.
Min Deposit
USD $5
Regulators
FSC, ASIC, CySEC
Trading Platform
MT4, MT5, FBS App
Crypto
Yes
Over 27 000 000+ Traders
Pros and Cons
✅ Pros | ❌ Cons |
FBS offers commission-free trading on the retail account | There is only one account type offered |
The demo account is valid for much longer than that offered by other brokers | The spreads on the retail account are wide |
South Africans pay a low minimum deposit of 90 ZAR to get started | South Africans cannot open a ZAR-denominated account |
FBS offers an Islamic Account to South Africans | The demo account expires |
Can I switch between account types?
No, FBS only offers a single retail account. However, you can switch between a demo and a live account.
What types of accounts does FBS offer?
FBS currently offers a single trading account. However, a Swap-Free conversion, demo, and professional account option are available.
How to Open and Close an FBS Account
To open an account with FBS, South Africans can follow these steps:
- Visit the official FBS website.
- Click the “Registration” or “Open Account” banner on the homepage.
- Complete the registration form by providing personal information such as your name, email address, and phone number.
- Account verification is mandatory for FBS to adhere to financial regulations. You must provide identification and proof of residence. Typically, this entails submitting official government documentation (e.g., a passport or ID card) along with a proof of domicile document (e.g., a utility bill or bank statement).
- Download and install your preferred trading platform, or use the web-based versions of MetaTrader 4 or 5.
- After registering and verifying your account, deposit a minimum of 90 ZAR. Select South Africa from the list of countries on the deposits page to view the options available, and adhere to the on-screen prompts to fund your trading account.
Once your account has been funded, you can start trading.
To close a live trading account with FBS, South African traders can follow these steps:
- Before terminating your account, ensure that any remaining balance has been withdrawn. To withdraw funds, navigate to your account’s ‘Withdrawal’ section and follow the instructions.
- Close all open positions.
- The customer support department at FBS generally attends to requests to close an account. They are reachable by telephone, live messaging, and email. The contact information is available on the FBS website.
- Communicate your intention to terminate your account to the customer service agent. You might be requested to explain a component of their feedback procedure.
- You might be required to provide identification for security purposes. This is a customary process implemented to verify the legitimacy of the request.
- After processing your request, FBS will confirm that your account has been closed. Ensure that a confirmation is sent to you via email or their customer service department.
- Once your account has been terminated, you can uninstall any FBS trading platforms that have been installed.
Where do I start when opening an FBS account?
Go to the official FBS website and click the “Open Account” tab.
Is there a demo account option?
Yes, FBS provides a demo account for trading practice.
FBS Base Account Currencies and Basic Order Types
The base account currencies available to South Africans include the following:
- EUR
- USD
FBS Basic Order Types include:
- A market order can be either a buy or a sell order that executes at the current market price displayed on your price chart. If you place a market order, you will be immediately entered at the best available price.
- Market orders are most effective when a trading opportunity requires prompt action. Click buy/sell at the market to enter the trade immediately.
- A stop order can be either a buy or sell stop, depending on whether you wish to purchase above or below the market.
- This is useful for trading breakouts or trend continuation strategies when you want the market to continue moving in the same direction.
- Alternatively, you can place a limit order if you believe the price will reverse when it reaches a specific price.
Trading Platforms
FBS offers South African traders a choice between these trading platforms:
- MetaTrader 4
- MetaTrader 5
- FBS App
MetaTrader 4
MT4’s dependability and user-friendliness make it a favored option among numerous traders in South Africa, from novices to seasoned professionals. Its compatibility with FBS’s trading environment is notable.
By utilizing the platform’s sophisticated charting functionalities and an extensive collection of technical indicators, one can effectively capitalize on FBS’s fluctuating spreads, which start from a minimal 0.7 pips.
This integration enables traders from South Africa to perform accurate market analyses, which is essential for capitalizing on FBS’s competitive trading conditions.
Moreover, the seamless integration of MT4’s automated trading capabilities via Expert Advisors (EAs) with FBS’s high-leverage options (up to 1:3000) empowers traders to augment their trading strategies across diverse markets, such as commodities and foreign exchange.
MetaTrader 5
By incorporating more advanced tools and features, MT5 enhances the trading experience for South African traders. This aligns with FBS’s diverse product portfolio, allowing traders to deal in equities, indices, commodities, and forex.
In addition to FBS’s favorable trading conditions, MT5’s augmented analytical capabilities include a wider range of technical indicators and graphical objects that offer deeper insights into market trends.
A significant advantage of this platform is its ability to process larger orders while offering an extended time frame analysis feature, which allows it to adapt to fluctuating markets using different strategies.
Furthermore, considering how global access underpins FSB operations, the integrated economic calendar offered through MT5 becomes an indispensable information resource for South Africans.
It enables them to remain updated on worldwide financial developments – news that may inform sensible choices when managing trades, empowering such traders to make informed investment decisions over any given period or term”.
Pros and Cons
✅ Pros | ❌ Cons |
FBS offers MetaTrader 4 and 5 on its retail account | FBS does not have a social trading platform |
Traders can trade using their laptops, desktops, browsers, or mobile devices | The FBS Trader does not have the same rich functionality as the web-based terminals or desktop apps |
The FBS app is an innovative app available on iOS and Android devices | FBS does not integrate with any other third-party providers like cTrader |
What trading platforms does FBS offer?
FBS provides platforms such as FBS Trader, MetaTrader 4, and MetaTrader 5.
Is VPS available for all trading platforms?
Yes, FBS’s VPS service works with all of its trading platforms.
Which Markets Can You Trade with FBS?
South African traders can expect the following range of markets from FBS:
- Forex
- Precious Metals
- Indices
- Energies
- Stocks
- Cryptocurrencies
Financial Instruments and Leverage offered by FBS
🔎 Instrument | 🅰️ Number of Assets Offered | 🅱️ Max Leverage Offered |
📈 Forex | 72 | 1:3000 |
💎 Precious Metals | 8 | 1:333 |
📉 Indices | 11 | 1:33 |
💡 Energies | 3 | 1:100 |
📊 Stocks | 474 | 1:5 |
🪙 Cryptocurrencies | 5 | 1:33 |
Broker Comparison for a Range of Markets
🔎 Broker | 🥇 FBS | 🥈 XTB | 🥉 Tickmill |
📈 Forex | Yes | Yes | Yes |
🪙 Precious Metals | Yes | Yes | Yes |
📉 ETFs | None | Yes | None |
📊 CFDs | Yes | Yes | Yes |
💹 Indices | Yes | Yes | Yes |
📌 Stocks | Yes | Yes | Yes |
🪙 Cryptocurrency | Yes | Yes | Yes |
📍 Options | None | None | None |
💡 Energies | Yes | None | Yes |
🗂️ Bonds | None | None | Yes |
🚀Sign up | Open Account | Open Account | Open Account |
Pros and Cons – FBS Range of Markets
✅ Pros | ❌ Cons |
FBS offers a large range of CFDs that can be traded | There are limited non-CFD instruments that can be traded |
South Africans can trade forex minor, major, and exotic pairs with FBS | There are no local South African markets that can be traded with FBS |
Can I trade commodities with FBS?
Yes, commodities are among the assets offered by FBS.
Does FBS offer options trading?
No, FBS does not provide options trading.
FBS Fees, Spreads, and Commissions
📜CFD Type | ⚖️Example Instrument | 📊Tight Spreads | ♒Average Spreads | 〰️Wide Spreads |
💱Forex | EUR/USD | 0.1 pips | 0.5 pips | 1.0 pips |
➡️Indices | S&P 500 | 0.4 pts | 1.0 pts | 2.0 pts |
🪙Commodities | Gold | $0.10/oz | $0.30/oz | $0.50/oz |
📜Stocks | Apple Inc. | $0.05% | $0.10% | $0.20% |
Spreads
FBS applies different spreads, with a starting point of 0.7 pips for EUR/USD. Factors like your trading instrument and account type influence the specific spread you encounter. Here are some typical spreads that South African traders can expect from FBS:
💴 EUR/USD | 0.7 pips |
💵 XAG/USD | 0.01 pips |
💶 XAU/USD | 1 pip |
💷 US100 | 2.5 pips |
💴 XBR/USD | 0.03 pips |
💵 APPLE | 0.03 pips |
💶 BTC/USD | 8 pips |
Commissions
FBS does not charge commissions on trades. Instead, the broker’s fee for facilitating the trade is included in the spread.
Overnight Fees
Traders holding positions for more than 24 hours may be charged overnight interest or other fees.
The nature of these charges depends on whether they are credited or debited to the trader’s account. Some common types of overnight fees can vary by financial instrument and include:
🔎 Instrument | ➡️ Swap Long (Buy) | ↪️ Swap Short (Sell) |
💴 EUR/USD | -5.46 pips | 0.61 pips |
💵 XAG/USD | -3.8 pips | 0.0 pips |
💶 XAU/USD | -29.9 pips | 6.05 pips |
💷 US100 | -85.91 pips | -117.2 pips |
💴 XBR/USD | -7.74 pips | -6.28 pips |
💵 APPLE | -2.55 pips | -2.45 pips |
💶 BTC/USD | -1373.46 points | -742.59 points |
Deposit and Withdrawal Fees
South Africans can expect to pay 0.5% – 1.99% when they use Perfect Money to deposit funds. However, other deposit methods are free. Furthermore, FBS applies the following withdrawal fees:
- EFT – 2.5% + 5.4 ZAR.
- Credit/Debit Card – 0.5 – 2 EUR
- Skrill – 1 – 2% + 0.29 EUR
- Perfect Money – 0.5%
- Neteller – 2%
Inactivity Fees
Inactivity fees do not apply to dormant accounts.
Currency Conversion Fees
There may be charges for converting currency when making ZAR deposits or withdrawals to an account denominated in USD or EUR.
Is there a commission for trading cryptocurrencies with FBS?
FBS does not charge commissions; the broker’s fee is included in the spread.
Is there a fee for using the FBS VPS service?
No, if you trade 3+ lots monthly. If you trade less, you will be charged $33 monthly.
FBS Deposit Currencies, Deposit and Withdrawal Processing Times
🔎 Payment Method | 💰 Deposit Currencies | ⏰ Deposit Processing | ⏱️ Withdrawal Processing |
💴 EFT to South African Banks | ZAR | 15 – 20 minutes | Up to 7 days |
💵 Cryptocurrencies | USDC, USDT (ERC20), USDT (TRC20), BTC, LTC, BCH, ETH | 15 – 20 minutes | 15 minutes – 72 hours |
💶 Credit Cards | USD, EUR | Instant | Up to 7 days |
💷 Debit Card | USD, EUR | Instant | Up to 7 days |
💴 Skrill | USD | Instant | 48 hours |
💵 Perfect Money | USD | Instant | 48 hours |
💶 Neteller | USD | Instant | 48 hours |
💷 Sticpay | USD | Instant | 48 hours |
🚀 Sign up | Open Account | Open Account | Open Account |
Broker Comparison – Deposit and Withdrawals
🔎 Broker | 🥇 FBS | 🥈 XTB | 🥉 Tickmill |
📈 Minimum Withdrawal Time | 15 minutes | 1 Working Day | 1 Business Day |
📉 Maximum Estimated Withdrawal Time | Up to 7 days | 7 Working Days | 2 to 7 Business Days |
📊 Instant Deposits and Instant Withdrawals | Deposits | None | Instant Deposits |
🚀Sign up | Open Account | Open Account | Open Account |
Pros and Cons – FBS Deposits and Withdrawals
✅ Pros | ❌ Cons |
South Africans can choose from local payment methods for deposits and withdrawals | There are limited payment methods compared to other brokers |
FBS offers instant deposits | There are no instant withdrawals |
Traders can deposit and withdraw in ZAR | Deposit and withdrawal fees apply |
How long do deposits take to reflect in my account?
Deposits are often immediate. However, this might vary based on the payment type.
How long do withdrawals take?
Withdrawal timeframes vary but are usually completed within a few business days.
Deposit Methods :
To deposit funds to an account with FBS, South African traders can follow these steps:
- Enter your account information to access your Area on the FBS website.
- Go to your Trader Area’s “Finances” section.
- To begin the deposit procedure, select the “Deposit” option.
- You can choose a payment option that is convenient for you, such as bank transfers, credit/debit cards, or electronic payment systems.
- Enter the deposit amount. Follow the instructions to complete the deposit, including giving payment information or verifying the transaction over a secure gateway.
- Please note that local bank deposits can take 15-20 minutes, but in rare cases, they cannot last more than 72 hours.
Withdrawal methods:
To withdraw funds from an account with FBS, South African traders can follow these steps:
- You can access your FBS Personal Area via their website.
- Navigate to your Personal Area’s “Finances” section.
- To begin a withdrawal, click the “Withdrawal” button.
- Select your desired withdrawal method, including bank transfers, e-wallets, crypto wallets, or debit/credit cards.
- Specify the withdrawal amount, ensuring you have enough funds and considering any open positions or outstanding orders.
- To finalize the withdrawal, follow the instructions on the screen, including providing payment information or completing an identity verification process.
- Did you know you can withdraw straight into your ZAR bank account with FBS? However, withdrawals will likely be converted to USD or EUR first and then back to ZAR, which may incur conversion fees.
FBS offers South African traders the following deposit and withdrawal methods:
- EFT to South African Banks
- Cryptocurrencies
- Credit Cards
- Debit Card
- Skrill
- Perfect Money
- Neteller
- Sticpay
Min Deposit
USD $5
Regulators
FSC, ASIC, CySEC
Trading Platform
MT4, MT5, FBS App
Crypto
Yes
Over 27 000 000+ Traders
How long do FBS Withdrawals take?
Withdrawal processing timeframes range from a few minutes to up to seven days. The exact time depends on the payment type chosen and FBS’s internal withdrawal procedures.
How can I cancel a withdrawal request?
If your withdrawal request has not yet been completed, you can cancel it from your dashboard.
Education and Research
FBS offers the following Educational Materials to South African traders:
- FBS Academy
- Trader’s Blog
- Webinars
- Educational Video Lessons
- Seminars
- Glossary
- FAQ
FBS also offers South African traders the following additional Research and Trading Tools:
- Forex News Feed
- Daily Market Analysis
- VIP Analytics
- Economic Calendar
- Forex Calculators
- Currency Converter
Research and Trading Tool Comparison
🔎 Broker | 🥇 FBS | 🥈 XTB | 🥉 Tickmill |
📈 Economic Calendar | Yes | Yes | Yes |
📉 VPS | Yes | None | Yes |
📊 AutoChartist | None | None | Yes |
💹 Trading View | None | None | None |
📈 Trading Central | None | None | None |
📉 Market Analysis | Yes | Yes | Yes |
📊 News Feed | Yes | Yes | Yes |
💹 Blog | Yes | Yes | Yes |
Pros and Cons – FBS Education and Research
✅ Pros | ❌ Cons |
FBS offers South Africans a range of educational material | The education and research offered are limited compared to other brokers |
FBS offers several advanced tools and research | The FBS demo account is not unlimited |
Does FBS offer any trading guides or tutorials?
As part of their instructional offerings, FBS provides trading instructions and lessons.
Are the FBS educational resources updated regularly?
Yes, FBS’s instructional and research content is updated regularly.
Customer Support
🔎 Customer Support | 🥇 FBS Customer Support |
⏰ Operating Hours | 24/7 |
📌 Support Languages | English, Portuguese, South African, Malay, Vietnamese, Arabic, Hindi, Chinese, and more |
🗣️Live Chat | Yes |
📧Email Address | Yes |
☎️ Telephonic Support | Yes |
5️⃣ The overall quality of FBS Support | 4/5 |
Pros and Cons – FBS Customer Support
✅ Pros | ❌ Cons |
Customer support is available 24/7 | Customer support responses can be slow at times, especially during peak market hours |
What are FBS’s customer support hours?
FBS customer service is available 24 hours a day, seven days a week.
Is FBS’s customer support available in multiple languages?
Yes, FBS provides multilingual customer service.
FBS Current Expansion Focus
FBS is currently expanding across South America, Asia, and Africa.
Countries not accepted by FBS.
FBS Markets Inc. does not offer financial services to residents of certain jurisdictions, including, but not limited to, the USA, the EU, the UK, Israel, the Islamic Republic of Iran, and Myanmar.
Popularity among South African traders who choose FBS
FBS is one of the Top 10 forex and CFD brokers for South African traders.
Best Countries by Traders
🔎 Country | 📉 Market Share |
🥇 Brazil | 9.03% |
🥈 Malaysia | 7.82% |
🥉 South Africa | 6.19% |
🏅 Peru | 5.2% |
🎖️ Nigeria | 5.14% |
Are there any countries where FBS is not available?
FBS does not serve certain countries, such as the United States, the UK, and Israel.
Can I trade local financial instruments with FBS?
You can trade forex pairs such as USD/ZAR, EUR/ZAR, etc. However, local CFDs are not offered.
FBS vs XTB vs Tickmill – A Comparison
🔎 Broker | 🥇 FBS | 🥈 XTB | 🥉 Tickmill |
📈 Regulation | FSC, CySEC, ASIC | FCA, ACPR, BaFin, DFSA, KNP, FSCA, CySEC, IFSC | Seychelles FSA, FCA, CySEC, Labuan FSA, FSCA, DFSA |
📉 Trading Platform | FBS App MetaTrader 4 MetaTrader 5 | xStation 5 xStation Mobile | MetaTrader 4 MetaTrader 5 Tickmill App |
📊 Withdrawal Fee | Yes | Yes | None |
🆓 Demo Account | Yes | Yes | Yes |
💴 Min Deposit | 90 ZAR/$5 | 0 ZAR | 1,900 ZAR/$100 |
📌 Leverage | Up to 1:3000 | 1:500 | 1:500 |
📍 Spread | From 0.7 pips | From 0.5 pips | Variable, from 0.0 pips |
💷 Commissions | $0 | None on most instruments | $1 per side per 100,000 traded |
⛔ Margin Call/Stop-Out | 30%/ 10% | 100%/50% | 100%/30% |
▶️ Order Execution | Market | Market | Market |
🎁 No-Deposit Bonus | None | None | Yes |
🪙 Cent Accounts | Yes | None | None |
↪️ Account Types | Standard Account | Standard Account Swap-Free Account | Pro Account Classic Account VIP Account |
📌 FSCA Regulation | None | Yes | Yes |
💷 ZAR Deposits | Yes | Yes | Yes |
💶 ZAR Account | None | None | Yes |
⏰ Customer Service Hours | 24/7 | 24/5 | 24/5 |
🔟 Retail Investor Accounts | 1 | 2 | 3 |
☪️ Islamic Account | Yes | Yes | Yes |
📈 Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
📉 Maximum Trade Size | 500 lots | Not indicated | 100 lots |
⏱️ Minimum Withdrawal Time | 15 minutes | 1 Working Day | 1 Business Day |
⏲️ Maximum Estimated Withdrawal Time | Up to 7 days | 7 Working Days | 2 to 7 Business Days |
⌚ Instant Deposits and Instant Withdrawals | Deposits | None | Instant Deposits |
🚀 Open Account | Open Account | Open Account | Open Account |
Corporate Social Responsibility
FBS is deeply devoted to corporate social responsibility (CSR), actively participating in various activities and programs to positively impact society and improve community well-being.
These activities are in line with the purpose of long-term development, assuring FBS’s future, and having a beneficial societal impact. Importantly, FBS’s CSR efforts help to develop a positive brand image and reputation, attracting new customers and increasing revenue.
These activities serve the community by addressing various social, environmental, and economic issues, such as education, human rights, and environmental sustainability.
FBS takes a humanitarian approach to CSR, going above and beyond legal responsibilities to promote social good through specialized projects. These efforts are distinguished by a long-term commitment beyond short-term marketing methods, and FBS works with charity foundations to actively support various causes and projects.
FBS VPS Review
FBS provides a valuable Virtual Private Server (VPS) solution to help South African traders enhance their trading experience. Furthermore, a one-time deposit of at least $450 is necessary to gain access to this service for free during the first month. This initial contribution can be made easily through your area.
The VPS service charges $33 monthly beginning with the second month. However, if you traded at least three standard lots in the preceding month, this fee is removed, making it cost-effective for active traders.
In addition, it is crucial to know that if your account does not have enough funds or trading volume, the VPS service may be temporarily disabled.
When you activate the VPS service, you can select an account for the $33 price if the trading criterion is not reached. You can also choose the server’s location to ensure optimal performance based on your trading requirements.
Furthermore, defining the server type lets you choose the default platform upon activation, providing a better VPS experience.
Is the VPS service free for the first month?
If you deposit at least $450, FBS will provide you with a free VPS service for the first month.
What happens if I don’t meet the trading volume requirement for the VPS service?
If you do not achieve the trading volume threshold, your account will be charged $33 monthly.
Trading Platform
In our experience, MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms provided by FBS are well-suited to the South African trading environment.
Our experience with MT4 has been positive because of its user-friendly design and solid functionality, making it suitable for novice and expert traders.
The platform’s comprehensive charting tools and technical indicators aided our market analysis, complementing FBS’s competitive spreads and leverage choices.
MT5, on the other hand, expanded our trading skills by adding more timeframes and indicators and improved order management facilities. Its connectivity with a more excellent range of markets, such as stocks and indices, complements FBS’s services, giving us more opportunities to vary our trading tactics.
Quality of Customer Service
FBS’s customer care has been a critical component of our trading experience. Support is available in various languages, including English, widely spoken in South Africa, ensuring effective communication.
The customer service team’s responsiveness via live chat and email has been remarkable. Queries are typically resolved immediately and efficiently.
Furthermore, the availability of instructional resources and regular market research is a big value-add, especially for improving our trading knowledge and skills. However, more complicated queries required follow-up, indicating that there is space for progress in dealing with complex issues.
Recommendations according to our in-depth review of FBS
Recommendations according to our in-depth review of FBS:
- Local traders would profit significantly from accounts denominated in South African Rand (ZAR). It would reduce transaction costs and exchange rate risks by eliminating the requirement for currency conversion.
- Introducing bonus schemes, such as deposit or referral bonuses, could attract new traders while encouraging existing clients to enhance their trading activity.
- A broader range of traders would be appealed to by a more extensive selection of account types with various features and perks.
- Giving new traders access to an unlimited demo account would allow them to practice and perfect their trading methods without time limits.
- While FBS already provides educational materials, increasing these resources would be advantageous, mainly focusing on the South African market. Partnerships and sponsorships within South Africa could help FBS boost its visibility and appeal to local traders.
- CFDs on South African equities and indices would entice traders interested in the local market.
- A rebate program for retail traders could encourage trading activity and loyalty. Depending on trading volume or other factors, rebates could provide further value to active traders.
- While FBS presently provides MetaTrader 4 and 5, increasing its platform options to include additional popular trading platforms may allow it to appeal to a more excellent range of trading preferences. More advanced analytical tools and trading algorithms would benefit traders seeking a more sophisticated trading experience.
- Finally, Obtaining more licenses from top-tier regulatory agencies will boost FBS’s credibility and dependability. This would reassure South African traders of the broker’s dedication to the highest financial regulation standards.
Pros and Cons
✅ Pros | ❌Cons |
FBS usually offers a variety of bonuses and promotional deals | FBS reduced its previous number of accounts to a single retail account |
FBS delivers market analysis and updates regularly | Withdrawals may incur fees depending on the payment type used |
There is a low minimum deposit requirement of 90 ZAR to register an account | There may be a conflict of interest in trade execution as a market maker |
The platform is compatible with automated trading techniques | FBS does not offer a ZAR-denominated account for South Africans |
South Africans can deposit and withdraw in ZAR using local payment methods | Certain FBS services and promotions may not be available in all countries |
There is a demo account available for 45 days | FBS discontinued its CopyTrade in September |
Traders can personalise their trading experience by using the tools and settings offered on the MetaTrader platforms | While high leverage might be advantageous, it also increases the danger of huge losses, especially for inexperienced traders |
FBS offers a Swap-Free Account to South African Muslim traders | Floating spreads can widen in response to significant economic shocks or market volatility |
The FBS website is user-friendly | The variety of features and complex platforms can be intimidating for beginners |
South Africans can contact FBS 24/7 through several communication channels | FBS offers fewer in-depth research tools and insights than its competitors |
User Reviews
🥇 Trustworthy
This broker has acquired my trust because it provides everything required for profitable trading. All of the critical services I want are readily available and work wonderfully. Notably, newcomers will also find all of their demands satisfied here. – Samuel Khoza
🥈 Exceeds Expectations
My choice to deal with them originates mainly from their infrastructure, which matches my expectations and continuously exceeds them. – Chloe Du Plessis
🥉 Great!
FBS broker hits an outstanding balance: it is pretty easy and beneficial. Isn’t that a fantastic combination? I am sure of it. Extensive research isn’t necessary because all information about their services is easily accessible on their website, and a lot of information about the brand is available online. – Luke Meyer
Our Findings
Based on my experience, FBS is an excellent trading partner. While using a single account for various strategies is convenient, I prefer tighter spreads. One of the standout features for me is their wide range of assets. However, a significant downside for Senegalese traders is the high withdrawal fees. Reducing these costs would make the platform more attractive and affordable.
Our experience with FBS has been primarily positive due to the broker’s responsiveness to our trading needs. According to our research, FBS is particularly accessible for beginners or traders with smaller capital, thanks to the simple account setup and low initial deposit. Moreover, the broad selection of trading instruments, including currency pairs, commodities, and cryptocurrencies, aligns well with our diverse trading strategies, allowing us to maintain a well-diversified portfolio.
Conclusion
Our findings show that FBS is an attractive alternative for online forex and CFD trading. The broker’s regulatory compliance gives considerable trust, guaranteeing that South African traders deal with a platform that adheres to local and international trading norms.
FBS’s trading platforms, particularly MetaTrader 4 and MetaTrader 5, stand out for their ease of use and comprehensive functionality. These platforms are well-suited to the different demands of South African traders, ranging from novice to seasoned.
In our experience, integrating these platforms with FBS’s trading circumstances, such as competitive spreads and high leverage, improves the overall trading experience, allowing traders to capitalize on numerous market opportunities more efficiently.
Another highlight is FBS’s excellent customer service. The broker provides support in many languages and exhibits timeliness and efficiency in answering queries. This is important for South African traders needing help navigating the platform or resolving trading-related concerns.
However, it is crucial to remember that trading has risks, and the significant leverage provided by FBS, while potentially rewarding, also increases the danger of significant losses. South African traders, mainly those new to trading, should proceed cautiously.
Furthermore, FBS delivers comprehensive training resources and market research to help traders improve their trading skills and make informed decisions. This is especially useful for individuals still learning the intricacies of forex and CFD trading.
You might also like: FBS Account Types
You might also like: FBS Demo Account
You might also like: FBS Fees and Spreads
You might also like: FBS Islamic Account
You might also like: FBS Minimum Deposit
Disclosure
FBS Risk Warning and Disclaimer for Traders: Trading in financial markets has significant risks, including losing your invested cash. Leverage, which can magnify gains and losses, necessitates a thorough understanding of these risks. South African traders must understand that FBS’s financial offerings may not be suitable for everyone, particularly those unfamiliar with complex financial instruments.
Before trading, traders are urged to talk to an independent financial advisor and ensure they understand all the dangers. In addition, it is crucial to note that trading is not for everyone. Therefore, it is critical to understand the risks and the appropriate legislation in South Africa.
Our Review Methodology: For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker.
Based on our findings, this evaluation comprises positives, disadvantages, and an overall score. We want to assist you in locating the ideal broker for your requirements. Our broker review should not be considered financial advice. However, traders are urged to seek professional financial advice before making investment decisions.
Addendum/Disclosure: No matter how diligently we strive to maintain accuracy, the forex market is volatile and may change anytime, even if the information supplied is correct when going live.
Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all South African investors.
Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk. In addition, you should not start investing capital you cannot afford to lose because you could lose part of your original investment.
Frequently Asked Questions
Is FBS legal in South Africa?
Yes, FBS operates lawfully and has the required licenses in South Africa.
What is the minimum deposit for FBS in South Africa?
A retail trading account with FBS requires a minimum investment of 90 ZAR ($5).
How long does it take to withdraw from FBS?
Withdrawals with FBS take 15 minutes up to several days, depending on the withdrawal method.
Does FBS have VIX 75?
No, FBS does not have VIX 75.
Can South African traders deposit via local banks?
Yes, South African traders can deposit through local institutions such as FNB, Capitec, Standard Bank, ABSA Bank, etc.
How can South African traders withdraw funds from FBS?
Withdrawals can be made using local banks and other FBS-provided means.
Is FBS regulated?
FBS is regulated by the IFSC in Belize, ASIC in Australia, FSCA in South Africa, and CySEC in Cyprus.
Does FBS offer a demo account for South African traders?
Yes, FBS provides a demo account for traders to practice trading without risking their money.
What trading platforms does FBS offer in South Africa?
FBS provides trading platforms MetaTrader 4 and MetaTrader 5.
Is FBS Safe or a Scam?
FBS is a safe broker that has been operating since 2009.
Does FBS have Nasdaq 100?
Yes, FBS offers South Africans Nasdaq as a CFD on indices under “US100.”
Will I need to complete any forms to close my FBS account?
Yes, FBS may request that you complete particular paperwork or submit extra documents.
How long does it take to close an FBS account?
The time it takes to close an account varies, but FBS strives to fulfill closure requests as soon as possible.
Are there any promotional tools provided to FBS affiliates?
Yes, FBS provides many promotional options, such as banners, widgets, and landing pages.
Is there an opportunity for growth within the FBS affiliate program?
Yes, approved partners can expect options to broaden their audience and increase referral money.
Can I withdraw my bonus funds from FBS?
Yes, you might be able to. However, certain limitations may apply to bonus monies before they may be withdrawn.
How long do FBS Deposits take?
FBS deposit processing times vary; some are quick, while others take minutes or hours. The time required is determined by FBS processing and the payment type selected.
How many trading accounts can a South African open with FBS?
You can open a maximum of 10 trading accounts with FBS.
Can I use multiple payment methods to make a deposit?
Yes, you can deposit funds using numerous payment options.
Is it safe to deposit large amounts with FBS?
Yes, FBS regulates robust security procedures to protect your cash.
References
Tradestone LTD. CySEC.
FBS PTY LTD. ASIC.
FBS.com MetaTrader5.
With great features for more advanced trading techniques, together with prompt support and very useful training materials, makes FBS a fantastic broker FBS is great and I highly recommend them. Response from SA Shares Thank you for your review. I have experimented with multiple brokers, but FBS is the superior option. Their unbeatable mix of reliability, customer support, and educational tools is unparalleled. Response from SA Shares We are thrilled to hear this review. Thank you. The FBS Academy is a valuable source of knowledge. I’ve gained extensive knowledge of technical analysis, risk management, and other critical trading ideas. Response from SA Shares Thank you so much for sharing with us. FBS provides various educational resources, from basic tutorials to advanced trading techniques. Their dedication to assisting traders in learning and expanding is praiseworthy. Response from SA Shares Thank you for the review.Comprehensive trading platform
FBS experience
The Broker I have been looking for
An abundance of information available with just a touch of your fingers.
Broker that puts a stake in your success
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