FBS is a broker widely known among retail traders, most notably as the shirt sponsor of Leicester City FC. But before opening an account, the more important question is: "Is FBS actually good enough to trade with real money?"
This article draws on data from FXEmpire, FXScouts, DayTrading.com, WikiFX and other independent sources.
What Is FBS? Key Facts You Should Know
FBS was founded in 2009 in Belize and now serves more than 27 million clients across 150+ countries. Its main selling points are leverage up to 1:3000, a wide range of welcome bonuses, and the FBS Trader App, built specifically with beginners in mind.
Important: FBS does not accept clients from a handful of countries, including Iran, Israel, Myanmar, the UK, and the USA. It is also not authorised by the FCA (UK) or CFTC/NFA (US). The level of protection you get depends entirely on which FBS entity you are onboarded to — always check this before signing up.
Licensing and Trustworthiness — Is FBS a Scam?
| Regulator | Tier | License Number |
|---|---|---|
| CySEC (Cyprus) | Tier-1 ✅ | 331/17 |
| ASIC (Australia) | Tier-1 ✅ | ABN 48155185014 |
| FSCA (South Africa) | Tier-2 | 0885 |
| FSC (Belize) | Tier-3 | 000102/460 |
FBS holds Tier-1 licenses from both ASIC and CySEC, which gives it solid credibility. Clients onboarded under the EU entity are covered by the Investor Compensation Fund (ICF) up to €20,000, and Negative Balance Protection applies across all account types.
However, most clients outside the EU and Australia are onboarded through FBS Markets Inc. (Belize FSC, Tier-3), which offers meaningfully weaker protection than the CySEC or ASIC entities. FBS is also not authorised by the FCA (UK) or CFTC/NFA (US), so traders in those jurisdictions cannot open an account.
Account Types and Real Spreads
FBS keeps things simple with one main account (Standard):
| Account | EUR/USD Spread | Commission | Best for |
|---|---|---|---|
| Standard | 0.7-1.1 pip | $0 | All traders |
| Demo | Live market pricing | — | Practice before trading live |
| Swap-free (Islamic) | Same as Standard | $0 | Muslim traders |
Real-World Spread Testing
According to testing by FXEmpire (August 2024), FBS spreads are better than average on major forex pairs and commodities, gold in particular. However, index CFD spreads are relatively wide compared to brokers like IC Markets or Pepperstone.
EUR/USD averages 0.7-1.1 pips, depending on the trading session — a mid-range result for the industry.
Trading Platforms and Tools
- MT4 & MT5: Both fully supported, including EA (Expert Advisor) compatibility
- FBS Trader App (Proprietary): A redesigned mobile app with 90+ technical indicators built in, very easy to use — ideal for beginners who want to trade from their phone.
- Copy Trading: A built-in copy-trading feature is available inside the FBS Trader App
Free VPS: FBS offers a free VPS for traders who deposit at least $450 and trade a minimum of 3 lots.
Education: FBS Academy offers courses for beginners along with weekly webinars.
Deposits and Withdrawals with FBS
Deposits
- Local bank transfer: Availability depends on your country and the FBS entity you are registered with
- Credit/debit cards: Visa, Mastercard
- E-wallets: Skrill, Neteller, SticPay, FasaPay
- Minimum deposit: $5 — very low
- No deposit fees from FBS (your bank or e-wallet provider may still charge its own fees)
Withdrawals
- Withdrawals go out through the same method used to deposit, in line with standard anti-fraud practice
- E-wallet withdrawals are typically processed faster than bank transfers
- Processing time can take up to 48 hours
- No withdrawal fees from FBS (third-party processing fees may still apply)
Things to Watch Out For
Independent review sites such as WikiFX have documented user reports of withdrawal denials and unannounced balance adjustments. It's a good idea to test a small withdrawal first before moving larger amounts.
Supported Instruments and Assets
- Forex: 72 currency pairs
- Stock CFDs: 474 instruments (more than XM and Exness)
- Indices: 11 instruments
- Commodities: 11 instruments (gold, oil, silver)
- Crypto: 5 instruments
- Total: 550+ instruments
FBS Bonuses and Promotions
- Level Up Bonus $140: A no-deposit bonus for new accounts
- 0 Deposit Bonus up to $20,000: A limited-time promotion offered periodically
- Free VPS: Requires a $450 deposit and at least 3 lots traded
- Daily VIP Analysis: Available to VIP clients
FBS vs. Competing Brokers
| Category | FBS | XM | IUX |
|---|---|---|---|
| EUR/USD Spread | 0.7-1.1 pip | ~2.0 pip (Std) | ~0.86 pip |
| Max Leverage | 1:3000 | 1:1000 | 1:3000 |
| Minimum Deposit | $5 | $5 | $30 |
| Local Bank Transfer | ✅ | ✅ | ✅ |
| Copy Trading | ✅ | ✅ | ❌ |
| Inactivity Fee | ❌ None | ✅ $10/month | ❌ None |
| Tier-1 License | CySEC, ASIC | CySEC | ASIC |
| Free VPS | ✅ | ✅ | ❌ |
FBS Pros and Cons
Pros
- 1:3000 leverage, matching IUX as the highest in this comparison
- Very low minimum deposit at $5
- Wide range of deposit methods, including cards, e-wallets, and local bank transfer where available
- E-wallet withdrawals are generally processed faster than bank transfers
- No inactivity fee — good for casual traders
- The FBS Trader App is easy to use and very beginner-friendly
- Holds Tier-1 licenses from both CySEC and ASIC
- 27 million clients — a large, well-established user base
Cons
- Some users report withdrawal issues — proceed with caution
- FBS does not accept clients from certain countries, including Iran, Israel, Myanmar, the UK, and the USA
- Only one main account type — limited flexibility for traders who want a Raw Spread option
- Most clients are onboarded under the Belize FSC (Tier-3) entity, not the CySEC or ASIC entity
- Index CFD spreads are wider than at some competitors
- Not authorised by the FCA (UK) or CFTC/NFA (US)
Who Is FBS Best Suited For?
Good fit:
- Beginners who want to start with minimal capital ($5) but still get an easy-to-use platform
- Traders who don't trade often and want to avoid inactivity fees
- Traders who want a wide selection of deposit/withdrawal methods, including e-wallets
- Traders seeking high leverage (1:3000) on an offshore account
Not the best fit:
- Scalpers or day traders who want the tightest possible spreads and more account variety
- Traders based in the UK or US, since FBS does not accept clients from those jurisdictions
- Investors who want the highest possible level of regulatory protection (e.g. FCA)
Frequently Asked Questions (FAQ)
Is FBS a scam?
FBS is not a scam broker — it holds Tier-1 licenses from CySEC and ASIC and has been operating for 16 years. That said, most clients outside the EU and Australia are onboarded via the lower-tier Belize entity, and some users have reported withdrawal issues. It's worth testing a small withdrawal first before moving larger sums.
Which countries does FBS not accept?
FBS does not accept clients from Iran, Israel, Myanmar, the UK, or the USA. If you're unsure whether your country is supported, it's best to check directly with FBS or attempt registration to confirm eligibility.
How does FBS compare to XM?
FBS has noticeably tighter spreads than XM's Standard account, charges no inactivity fee, and offers a stronger mobile app. XM, on the other hand, has more comprehensive educational resources and a higher Trust Score.
Is FBS's 1:3000 leverage safe?
Technically, 1:3000 leverage means $1 of margin can control a $3,000 position, which creates both a higher profit potential and a much faster route to losing your entire deposit. Beginners are generally advised to start with 1:100-1:200 leverage instead.
Verdict: Is FBS Worth Opening an Account With in 2026?
FBS is a solid option for beginners who want to start small and use an easy-to-navigate app, especially if you value a wide choice of deposit and withdrawal methods and no inactivity fee.
If you're after the tightest possible spreads or the strongest regulatory protection available to you, brokers like IUX or Pepperstone may be worth comparing — but always check which entity you'd actually be onboarded to and what protection applies in your jurisdiction before deciding.