FBS Review: South African Edition (2024)

FBS is a global online forex and CFD broker, regulated by the Financial Sector Conduct Authority (FSCA) of South Africa. Founded in 2002, FBS offers over 70 currency pairs, CFDs on stocks, indices, and precious metals, and cryptocurrencies to trade on its MetaTrader 4 and MetaTrader 5 platforms.

Is FBS Safe for South African Traders?

Yes, FBS is safe for South African traders. The broker is regulated by the FSCA, which is a reputable financial regulator that ensures that brokers adhere to strict financial and operational requirements. This helps to protect traders' funds and ensures that FBS operates in a fair and transparent manner.

In addition, FBS holds client funds in segregated accounts, which means that your money is kept separate from the broker's own funds. This is an important safeguard in case the broker becomes insolvent, as your money would still be safe.

FBS Trading Accounts for South African Traders

FBS offers a variety of trading accounts to suit different traders' needs, including:

  • Standard Account: This is the most basic account type, with spreads from 0.9 pips and no commission.

  • Cent Account: This account is designed for beginner traders, with minimum deposits from $1.

  • Zero Spread Account: This account offers spreads from 0 pips, but there is a commission of $30 per round lot.

  • ECN Account: This account is designed for experienced traders, with spreads from 0.1 pips and a commission of $0.7 per round lot.

FBS Trading Platforms for South African Traders

FBS offers two trading platforms: MetaTrader 4 and MetaTrader 5. Both platforms are popular among forex traders and offer a wide range of features, including:

  • Technical analysis tools: A wide range of technical indicators and drawing tools can be used to analyze charts and identify trading opportunities.

  • Fundamental analysis tools: News and market data can be accessed to help traders make informed trading decisions.

  • Automated trading: Expert Advisors (EAs) can be used to automate trading strategies.

FBS Education and Research for South African Traders

FBS offers a variety of educational resources to help South African traders learn about forex trading, including:

  • Forex webinars: Free webinars are hosted regularly on a variety of forex trading topics.

  • Forex articles: A library of forex articles is available on the FBS website.

  • Forex glossary: A glossary of forex terms is available on the FBS website.

FBS Customer Support for South African Traders

FBS offers 24/7 customer support in over 20 languages, including English and Afrikaans. South African traders can contact FBS by phone, email, or live chat.

FBS Awards and Recognition for South African Traders

FBS has won a number of awards for its services, including:

  • "Best Forex Broker Asia 2023" - World Finance Awards

  • "Best Islamic Forex Broker 2023" - Global Banking & Finance Awards

  • "Most Trusted Forex Broker 2023" - International Business Magazine Awards

FBS Trader Opinions for South African Traders

FBS is a popular forex broker with a good reputation among South African traders. The company offers a wide range of trading products and services, as well as a variety of educational resources and customer support. However, some traders have complained about the broker's spreads and commissions.

Overall, FBS is a good choice for South African traders of all experience levels. The company offers a wide range of trading products and services, as well as a variety of educational resources and customer support.

Here are some additional things to consider before opening an FBS account:

  • The minimum deposit requirement is $1.

  • FBS does not offer Islamic accounts.

  • FBS is not available to traders in the United States.

It is important to do your own research before choosing a forex broker. Make sure to compare different brokers and choose one that is right for your needs.

Please note that this is not an exhaustive review of FBS. You should always do your own research before making any trading decisions.