FBS is registered and licensed by the Cyprus Securities and Exchange Commission (CySEC) with license number 182/12.
As it is an European Forex broker, FBS follows the MiFID directives and the broker itself is a member of ICF(Investor Compensation Fund).
ICF compensates up to 20,000 EUR in case FBS fails to pay back your funds for some reason.
Being regulated by CySEC means a lot though, please note that it doesn’t mean that CySEC regulated brokers are the safest places to trade.
CySEC financial license is known as the most popular Forex license for online brokers. You can certainly assure yourself that “CySEC regulated” still means a lot better than non-regulated or many other minor regulations.
FBS is regulated and licensed by multiple authorities in the world. For more information, please visit FBS Official Website.
STP/ECN broker with superior trading condition
FBS is also known as a STP broker which doesn’t have a dealing-desk to hedge its clients’ trades.
This means a lot for its traders that there is no conflict of interest between FBS and traders.
For over the years being active as an online Forex broker, FBS has almost never been accused of or complained about possible price/order manipulation or rejections.
Not just the broker is promoting its execution quality, but you can trust it by these positive reviews about the broker.
For your information, all FBS trading accounts are provided with STP trading environment.
What documents are required to open Forex accounts with FBS?
As a regulated entity, and in an effort to know the clients better, FBS requests that you submit 2 documents initially; those being a proof of ID and proof of residency documents (e.g. passport and utility bill).
These two documents can be submitted in the process of “account opening”.
You can also skip the part to finish the account opening process first, then send the digital copies through email to FBS support team directly.
You can even make a deposit and start trading with FBS without submitting any documents though, you can not withdraw your funds(and profits) without submitting them.
In accordance with its regulatory requirements, FBS may from time to time request for further documentation, as may be deemed necessary.
Third party documents are not accepted
As FBS is a regulated company, the broker needs to follow the certain rules set by the regulatory authority.
FBS cannot accept any documents or deposits from third parties. This means that neither your family, legal partners or any other person can sign up using your name.
It needs to be you signing up, submitting documents and making deposits to FBS.
If the broker finds that another person(third party) is using the trading account registered under your name, they may cancel all trading activities and send back all deposited funds immediately to the original account.
How and What you can trade/invest in with FBS?
FBS provides its traders with a world renown platform (MT4 and MT5) from which they may participate on an Over The Counter (OTC) basis with a variety of Financial Instruments, Including Forex, CFD’s, Stock Indices and much more.
You do not need to open several accounts to trade these financial instruments, as you can access to all of them by opening only one trading account.
You can manage your own tradings in one trading account, and profit/loss/margin calculation are also together.
In Addition, FBS provides its members with a variety of tools, such as Forex News and Technical Analysis, in an effort to give its members as much information as possible to assist them when it comes to making the right trades.
You can find the full contents from their official website.