|Platform||MetaTrader 4 for PC, MetaTrader 4 for iOS, MetaTrader 4 for Android, MetaTrader 4 WebTrader|
|Minimum account size||$1|
|Minimum lot size||0.01|
|Spread on EUR/USD||0.05 pip|
|Payment methods||Credit Cards, Bank Centra Asia, Mandiri, Bank Negara Indonesia, Bank Rakyay Indonesia, OCBC NISP, Fasapay, Perfectmoney, Yuu Collect, Webmoney, Skrill, Wire Transfer|
|Accepts Indonesian traders||Yes|
|Regulated||IFSC (Belize), CRFIN (Russia)|
|Support||Phone, E-mail, Live Chat|
- $1 minimum account size
- Limited number of assets
- Dull platform layout and design
- Lots of trader complaints
- Mediocre support
FBS is a Belize-based forex broker that has been operating since 2009. They offer a selection of platforms which are accessible over a variety of devices.
FBS have a suite of MetaTrader 4 platforms that can be accessed on PCs, tablets and smartphones via downloadable programs, apps or directly via a web browser. This warrants FBS with a Platform score of 9/10.
We find the platform design to be dull and too basic. They should have at least added some colors or some visual elements to make the interface more inviting. This gets a a Design score of 2/5.
It is possible to open an active account and make an initial deposit of $1 via their Cent account. Other account types however require higher deposits but since they allow a very small amount for starters, they earn a Minimum Deposit score of 5/5.
Minimum Lot Size
A minimum lot size of 0.01 is accepted by this broker. This is at par with the standard size so we are rating them a Minimum Lot Size of 4/5.
Unfortunately they only have around 30 assets and this could be a setback if you plan to explore other products in the future. With a limited trading opportunity, we are giving them a Tradable assets score of 2/5.
The spreads that they have are competitive and are very tight even for major currency pairs. The EUR/USD for example has a spread of 0.05. This deserves a Payouts score of 10/10.
The maximum time for processing withdrawal requests is 2 days while bank wire transfers may take up to 7 days. This sits well within the industry standards which is why we are rating them with a Withdrawal Time score of 8/10.
Deposit and Withdrawal Methods
Among the accepted payment methods include credit cards (Visa and MasterCard), Bank Centra Asia, Mandiri, Bank Negara Indonesia, Bank Rakyay Indonesia, OCBC NISP, Fasapay, Perfectmoney, Yuu Collect, Webmoney, Skrill and Wire Transfer. This warrants a Deposit and Withdrawal Methods score of 5/5.
They have an Indonesian phone support but the waiting time was just not acceptable. It took around 10 minutes before we were able to get an agent on the line. To be fair, they were able to provide detailed answers but the long waiting time really needs to be resolved. This warrants a Support score of 7/15.
The quotes were generally accurate though in a few instances, we’ve experienced some re-quotes particularly when markets prices are highly volatile. This warrants FBS a Quote Accuracy Score of 8/10.
This company has been in operation since 2009 but after checking out various financial reviews and discussions over the web, we’ve learned that they have been plagued by a growing number of user complaints. A lot of Indonesian traders seem to be not satisfied with this broker and for this reason they notched a low Reputation score of 11/20.
While there some good things to say about FBS like the low minimum deposit and their regulation, this broker also has a lot of disadvantages that must be taken into consideration. The limited number of assets, the boring platform design and the long waiting time to contact the support are just some of the setbacks that you need to weigh in if you are going to trade with this broker.
Final Score: 71/100