FBS broker has been popular recently. Their trade volume’s leading Thailand market as FBS offers a great range of attractive promotions from $100 Welcome Bonus, 100% Deposit Bonus and Mercedes GLA Promotion. View more promotions here.
Remember my advice: “Professional traders don’t like forex bonus”? Some of the most frequent questions are: Should I trade with FBS forex broker? Is it reliable? Are they a scam broker? All of your questions will be answered in this detailed review.
I’ve been trading with FBS Broker since 2011. At that time I didn’t stay long because it had high spreads, slow execution speed and high slippage. Of course, I left after a few months trading. In June 2016, FBS forex broker became more and more popular because of its promotions such as welcome bonus (we do love free stuff!). There were so many changes that made me quite surprised when I got back. Here are the reasons why you should trade with FBS FX broker:
This seems to be their biggest advantage. FBS is the only foreign broker allowing you to deposit through local bank. What’s more, you can deposit via mobile top-up card for small transactions, which allows you to test the broker and learn more. Therefore, it applies a very small fee compared with depositing via your Visa/ MasterCard and other online payment gateway. In addition, you’ll get up to a 100% bonus for depositing. View their detailed promotion
FBS may be fast in this category, but it is nowhere near Exness. In the forex market, the fastest broker in terms of deposit and withdrawal is Exness. It built a completely automatic system that can process client's orders in the matters of seconds. Thousands of forex traders choose Exness because of this speedy feature.
You just started trading. You have already read all the trading guide books and have traded with demo account for at least one month. You are now good to go with a real account! Start with the FBS Cent account since you don’t have much experience. You just need to deposit $10 in the account, then you will have 1000 cents. Just trade this 1000 cents as $1000 to gain more insights and experiences. Don’t start with a big deposit without experiences. Most of successful traders have started out with Cent Accounts. More than 90% of traders lose when start trading forex. Therefore, you should trade with Cent Account to secure your fund until you are ready. If you are not sure of high and uncontrollable spreads, trade with Zero Spread Account. Spread is zero for this account (as its name!). However, you need to pay a trading fee with a minimum of $20 per lot, which depends on the pairs you choose.
View detailed Zero Spread Account
Most traders open Unlimited Account at FBS. This account has some advantages such as low spread starting from 0.2, minimum deposit is $500.
I have used many softwares to compare FBS spread with other big brokers such as Saxobank, IG Group, ICMarket, etc. It turns out the FBS spread is always the low one. EURUSD is usually smaller than 1 pip. Moreover, the trading commission for EURUSD is only $20 if you are using the Zero Spread Account. This is considered an extreme low commission for EURUSD.
Well actually, there are some brokers who can offer spread as low as FBS or even lower.
Are they better than FBS?
I will say yes, because of the regulations. FBS has IFSC regulation, which can only protect traders in South Africa. There are other brokers for European traders like Exness (FCA regulated) and XM (also FCA regulated). Exness and XM has even lower spread than FBS if you ask me.
FBS broker has a good support team for each market. There is no need to worry about any problems occurred while trading because the support team is very approachable. They answer all of the questions on websites and Facebook. In terms of supporting, I think FBS Broker obviously stands out from other foreign brokers. FBS has a representative office in some countries such as: Thailand, Indonesia, Vietnam, China,... However, FBS doesn't educational seminars like XM seminars. So if you're thinking getting educational support brokers, you can consider XM.