December 5, 2021

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FBS South Africa Review 2021

FBS Broker Review 2021 • [Best Forex Broker] • TradeFX

FBS is the virtual broker that provides you access to CFDs and Forex trading. This global broker was established in 2009. They are offering services in 190 countries, and almost 15 million traders are linked with them. Furthermore, they have 410,000 partners, so that’s a big family. In this guide, we will share details regarding the deposit withdrawal methods, fees, and much more. So, what are you waiting for? Let us delve straight into the article.

FBS Tradeable Products

FBS permits the customers to trade on seventy-five financial CFD instruments. It includes Energies, Indices, Stocks, Metals, and Forex. But unfortunately, you can not trade while using cryptocurrencies, so this is the negative side. 

Account Types offered by FBS

FBS offers five different types of trading accounts that include Standard, Zero, Spread, ECN and Micro. Every version has some pros and cons. So, before opting for an account, it is important to first research and find out whether it is an ideal choice for you or not. If you go for Micro, Cent, and Standard Accounts, then there is no commission involved. All of these accounts will give you floating or fixed spread options. In addition to this, the minimum deposit may range from USD 1-100.

In addition, the Zero Spread Accounts have the leverage of 1:3000, and the spread is fixed of zero pips ECN is the bit expensive account type as you have to pay the minimum deposit of $1,000 and the commission per lot is $6. The maximum leverage in the case of ECN is 1:500.

If you click on the open account button, you can easily open your account. After this, a login page will be opened before you, and you need to enter the full name and the e-mail. In addition to this, you will have to sign and make the client’s agreement.

After that, you will be liberated to choose their trading platform, leverage, and make a choice of which currency pair you have to go for. 

 Deposit and Withdrawal fees

When it comes to the minimum deposit, it should be noted that it depends on the type of account and the location from where you are operating. The EU firm needs a €10 minimum deposit if you are using the Cent account. In addition to this, in the case of the Standard version, the minimum deposit is €100. 

You have ample options such as visas and electronic payment systems like Neteller and Skrill when it comes to payment. All of these methods make deposits instantly accept the wire transfer… In addition, the wire transfer option is available only for the EU.

FBS Trading Fees

FBS may vary depending upon the place where you are residing and the account type you have selected. For instance, if you go for a Micro account, the spread is 3.0. On the other hand, in the case of Standard and Cent accounts it is 1.1. Additionally, if you opt for ECN and Zero accounts, the spreads are zero.

Final Thoughts

To sum up the article, we would like to say that Forex trading is a challenging task, and one needs to be highly careful. So, always choose a well-regulated trader, and luckily FBS South Africa is authorized by the IFSC and CySEC.