In terms of Asian regions in 2018, FBS has recently been a great broker for Asian forex traders, especially in Thailand and Indonesia. The multitude of forex traders are struggling with the question of finding best forex brokers in forex market; I thus write this article in order to help them find a great forex broker. Obviously, I will give you some information about FBS forex broker so that you can determine exactly whether this broker is suitable for you or not. In fact, FBS broker allows their customers to trade up to 35 currency pairs, 4 precious metals, 2 CFD, and cryptocurrencies. With the aim of finding best forex brokers, we should consider some certain standards, which require brokers to follow.
Here are some certain criteria that best brokers should follow.
- Trading costs
- Trading conditions
- Account types
- Payment systems
- quotes quality
- Customer support
- Local offices
In terms of this article, I will provide you some aspects of FBS broker as well as a comparison between this broker and other top brokers.
1. The credibility of FBS
Regulation is regarded to be the most important thing that traders should take into account before considering a good forex broker. It is because regulations are the licenses that reliable financial organizations provide brokers to manage those brokers. Certainly, it is a mandatory task that a good broker has to comply with a certain set of rules from the regulations because of the safety of traders. Normally, only large forex brokers are eligible for demands of those regulations. FBS broker has two trusted regulations, which are CySEC and IFSC. This means you can rely totally on this broker with a view to making profits. Some people believe that it is better for them to go for a broker, who has many regulations. In fact, it is a wrong concept because of some disadvantages. There are two possible matters that we should know in terms of this situation. Firstly, if you nation has a regulation, you had better opt for broker who has that regulation. Obviously, FBS broker has IFSC, a South African regulation, which is beneficial for South African traders. Secondly, if you nation does not have any regulation, like some Asian regions, you had better trade with broker who has one trustworthy regulation. In this case, we should consider FBS broker because they have a trusted regulation (CySEC). In one word, regulations can be seen as a good measure to evaluating a good forex broker, which makes traders feel safe and confident. It is crucially important for broker to have only one reliable regulation.
2. Trading costs of FBS
In fact, the vast majority traders will always be attracted by low-spread forex brokers. Spread is the contrast between the Ask cost and the Bid cost of a cash match. The spread of FBS is listed in the top low spread brokers, which is only from 0.2 to 1.1 pip. The spread of FBS is far lower than some brokers like XM, FXTM, and FXCM.
Obviously, charging commission or spread can be the main income of forex brokers. FBS broker charges commission as their main income, which has different commission rates. In terms of Cent and Standard accounts, they do not charge commission.
There are some kinds of bonuses when you trade with FBS forex broker, which are deposit bonus, welcome bonus, or loyalty program. Traders will be able to enjoy the highest rate of bonus up to $123. The deposit bonus will return the total amount of money that traders deposit. Additionally, you can enjoy cashback program, which help you rebate $7 for every lot traded. At the present, it would be a good opportunity for you to register because you can get $50 in your account.
3. Trading conditions of FBS broker
There are four kinds of accounts provided by FBS broker, which are the regular accounts (Cent account, Standard account, and Fixed Spread account) and the ECN account.
For new traders or beginners, it is a good account because the deposit requirement is only $1. In fact, when traders first come to forex market, they hardly win the profit easily. Therefore, they should choose some accounts which require little deposit in order to gain more experience. The request volume of this record is from 0.01 part Cent up to 1000 parcels. It is very beneficial for traders because they can minimize the loss of their money. The spread is quite low, which is 1 pip. In terms of this account, they do not charge any commission.
This account requires a little experience from traders. Its spread is only 0.5 pip. The leverage is up to 1:3000, which is relatively high. In fact, the higher leverage the better. The minimum deposit is $100, which is average.
Fixed Spread account:
There is other name for this account, which is Zero Spread account. FBS will charge traders $20 for commission because it has no spread. The minimum deposit is around $500. Like Standard account, this account has the same leverage and order volume.
Due to the fact that the minimum deposit required is $1000, it is suitable for experts and longer-term traders. On the other hand, this account charges little commission, which is $6. The commission rate of this account is quite similar to that of Exness and XM, which is $5 and $6 respectively.
In reality, it can be seen that US/UK brokers are good brokers in their countries, while they are quite bad in overseas regions, especially Thailand or Indonesia. If you deposit by your credit card, you will be charged from 1.7 to 4% your total fund by their banks. Honestly, in Asia, you have to pay 4% for depositing but you can get only 5% of profit rate every month. Hence, it would be beneficial for you to choose other forex brokers in Asian regions. Unquestionably, opting for a broker, who has local payment systems, is very vital for traders. In fact, FBS is the best forex broker in this case, who offer depositing and withdrawing through local bans and e-wallets in Asian nations. The transferring speed of FBS is very amazing, which comes second to Exness, the fastest in the market.
4. Customer support of FBS broker
Normally, taking customer services into consideration can be seen as a fundamental step that traders should follow before considering best forex brokers. Indeed, due to the complexity of forex market, it is very hard for traders to gain profit without any support from their brokers. Therefore, choosing a good broker, who can support their traders, is a good decision. FBS broker is a great forex broker because they support their customers in English 24/7 online chat. They can also support non-English speakers by local offices in some regions such as Indonesia, Malaysia, Egypt, Thailand, China, Korea and Myanmar. FBS broker supports their traders through these local offices 5 days a week.