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FBS is a MetaTrader-only broker licensed in Belize that lacks regulatory status in major jurisdictions. It offers a small range of tradeable instruments and has wide spreads on its crypto CFDs.

Steven Hatzakis | July 23rd, 2020

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Trust Score
  • Small range of instruments offered
  • Profit can be limited to 300 pips in case of a market gap
  • Does not permit arbitrage (i.e., no scalping).
  • Large spreads on crypto CFDs

Review Sections:

Please Note: FBS was not included in the 2020 annual review. As a result, this broker's ratings may be outdated. Read our Best Forex Brokers 2020 guide for a look at the top rated forex and CFDs brokers.

Founded in 2009, FBS Markets Inc. (FBS) is domiciled in Belize and licensed for trading in securities services with the country’s International Financial Services Commission (IFSC).

The broker offers the suite of MetaTrader platforms, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5), developed by MetaQuotes Software Corporation.

FBS offers 48 instruments, including 37 forex pairs and 11 CFDs, four of which are cryptocurrency CFDs.

Is FBS Safe?

FBS is considered high-risk, with an overall Trust Score of 58 out of 99. FBS is not publicly traded and does not operate a bank. FBS is authorised by zero tier-1 regulators (high trust), one tier-2 regulator (average trust), and one tier-3 regulator (low trust). Learn more about Trust Score.

Regulations Comparison

Year Founded2009
Publicly Traded (Listed) No
Bank No
Tier-1 Licenses0
Tier-2 Licenses1
Tier-3 Licenses1
Trust Score58

Offering of Investments

The following table summarizes the different investment products available to FBS clients.

Forex: Spot Trading Yes
Currency Pairs (Total Forex pairs)37
CFDs - Total Offered11
Social Trading / Copy-Trading Yes
Cryptocurrency traded as actual No
Cryptocurrency traded as CFD Yes

Commissions & Fees

FBS offers four commission-free account types with fixed or variable spreads to choose from, and two additional account types that have zero spreads but charge a commission to compensate for the difference.

FBS accounts

The broker lists a typical spread of 0.9 pips on the EUR/USD, while in the Zero account there is a 0-pip spread (i.e., no spread), but the broker charges $20 commission per side.

Minimum Initial Deposit$1.00
Average Spread EUR/USD - StandardN/A
All-in Cost EUR/USD - ActiveN/A
Active Trader or VIP Discounts Yes


FBS offers several options for research in the form of news, including headlines and technical and fundamental analysis from its in-house staff and third parties.

FBS research

Aside from platform tutorials and an economic calendar, it is worth noting FBS offers several educational videos and holds weekly webinars; otherwise, its research offering is light.

Daily Market Commentary No
Forex News (Top-Tier Sources) Yes
Weekly Webinars No
AutoChartist No
Trading Central (Recognia) No
Delkos Research No
Social Sentiment - Currency Pairs No
Economic Calendar Yes

Platforms & Tools

FBS is a MetaTrader-only broker, offering the MetaQuotes Software Corporation’s suite of platforms, which includes MT4 and MT5. To learn more about these platforms, read our MetaTrader guide.

MetaTrader4 Desktop Forex Brokers

While MT4 and MT5 come standard, with little variation in functionality from broker to broker, there can be significant differences in how the platform is set up for trading spreads and commissions, execution, and other tools, features, and administrative areas.

Virtual Trading (Demo) Yes
Proprietary Platform No
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy-Trading Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) Yes
cTrader No
Charting - Indicators / Studies (Total)51
Charting - Drawing Tools (Total)31
Charting - Trade From Chart Yes
Watchlists - Total Fields7
Order Type - Trailing Stop Yes

Mobile Trading

FBS offers iOS and Android mobile trading applications for its MetaTrader platforms, which are available directly from the developers on the iTunes Store and Google Play. To learn more about MT4, read our guide to MetaTrader.

Android App Yes
Apple iOS App Yes
Trading - Forex Yes
Trading - CFDs Yes
Alerts - Basic Fields Yes
Watch List Yes
Watch List Syncing No
Charting - Indicators / Studies30
Charting - Draw Trend Lines Yes
Charting - Trend Lines Moveable No
Charting - Multiple Time Frames Yes
Charting - Drawings Autosave Yes
Forex Calendar No

Other Notes

While many customer agreements have a common language, they do vary from broker to broker. It’s worth noting FBS has a clause in its agreement that stipulates how clients’ profit can be limited to 300 pips in the event of a market gap.

In addition, while FBS’s website says it permits any MetaTrader strategy, the exact opposite is stated in its customer agreement (“the company doesn’t allow the use of arbitrage strategies in either a clear or hidden way, and the company reserves the right to cancel such orders.”)

Final Thoughts

FBS provides multiple account options and deposit methods for its clients to access the MT4 and MT5 platforms from its entity licensed in Belize and across its related websites, which cater for international traders.

The broker’s lack of regulatory status in a major jurisdiction puts it at a disadvantage compared to most major and even smaller forex brokers that typically hold multiple licenses. For example, adding an EU license would help FBS compete with its industry peers.

Forex Risk Disclaimer

"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." Learn more.

Steven Hatzakis

About the author: Steven Hatzakis is the Global Director of Research for Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

Ratings Overall


Commissions & Fees
Offering of Investments
Platforms & Tools
Customer Service
Mobile Trading

Trading CFDs, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. All data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. The staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

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