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Is FBS Regulated Forex Brokers a Scam?

A decade-long forex broker gets a close look from our analysts in this FBS-regulated forex broker’s article. Many traders throughout the world choose FBS because it offers a broad choice of trading options in currency pairs and metals and indices. Fair trading fees, rigorous regulation, and two account kinds are all provided by the broker.

FBS-regulated forex brokers (Financial Brokerage Services) have offices in China, Malaysia, the Philippines, Indonesia, the Kingdom of Jordan, Vietnam, and the Russian Federation. The Belize Financial Services Commission (IFSC) is the main regulatory body overseeing the company’s financial components.

CFTC, NFA, FCA, ASIC, and CySEC regulation is the most trusted. Thus, FBS regulation is not a strong suit for the company. A tax haven, Belize has regulatory requirements that are debatable when compared to more established and well-respected international regulatory agencies, such as the International Financial Services Commission (IFSC).

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FBS-regulated forex brokers began their foreign exchange business in 2009, originating in Russia. More than 700,000 clients from 120 countries around the world, according to the broker, are registered with him. However, by today’s standards, that may be an accurate picture of the broker’s reach.

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The truth is that the broker doesn’t have many customers from the United States, and this makes sense. Because of this, the broker is unable to market their services in the Euro Zone actively.

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Even though the FBS regulated forex brokers, regulatory positions are a complete mess. Indeed, the broker’s services have earned them a slew of honors and accolades.

Existing customers have also been able to provide the broker with favorable FBS evaluations. The broker, on the other hand, isn’t immune to criticism.

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Is FBS subject to any regulation?

CySEC FBS regulated forex brokers and licenses FBS, ensuring that clients in the EU receive regular reporting, openness, and fairness. IFSCC of Belize regulates international financial services for those dealing outside of the European Union (IFSC).

How long does it take to stop using FBS completely?

The time it takes to get your money out of FBS-regulated forex brokers is dependent on how you get it. On business days, the broker processes all withdrawals within 48 hours. Wire transfers can take up to 48 hours, whereas e-wallet and crypto transfers are completed in minutes.

What’s the least you have to put down on FBS?

FBS’s minimum deposit amounts are determined by the type of account you have chosen. A micro account with a minimum deposit of $1 is available to foreign customers. The Cent account, which costs €10, is the entrance point for European customers. A €100 minimum deposit is required for most accounts.

Pros: –

  • Up to 1:3000x leverage (for non-EU customers only) suits traders that are willing to take on a higher level of risk
  • Ninety-five percent of trades are executed in under a second.
  • Low spreads and commissions for the majority of accounts (starting at 0 pips).
  • The availability of a free trial account for each account type allows customers to experiment with various business models.
  • FBS Trader is a free trading platform that can be used from any location (for the non-ASIC regulated regions only)
  • If you want to increase your trading results and FX knowledge by copying other investors, you can use the free social trading program FBS Copy Trade (for the regions under IFCA and FSCA regulations only)
  • Customer assistance that is first-rate and bilingual is always available.

Cons: –

  • Fees for both putting money in and taking it out (depends on payment type)
  • There are fewer account options for customers from the EU, UK, and Australia than clients from other locations.

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