FBS Malaysia - Is It a Good Broker in 2024?
FBS is good for traders in Malaysia because it offers a user-friendly platform, diverse financial instruments, and localized support, catering to the needs of Malaysian traders.
FBS is an international online trading broker that operates in more than 190 countries. They’ve been working for over a decade, and managed to earn around 40 rewards from various international regulatory bodies and industry associations in that time. They’re also regulated in Belize, Australia, and Cyprus — showing the immense reputation of the broker.
The financial authorities regulating FBS are IFSC (International Financial Services Commission of Belize), ASIC (Australian Securities and Investments Commission), and CySEC (Cyprus Securities and Exchange Commission) — seeing as CySEC is their main regulatory authority, it’s worth noting that their license number with them is 331/17.
FBS Malaysia provides excellent conditions when it comes to Forex trading — and apart from the major currency pairs, traders can also use the platform to trade in futures, indices, commodities, and more exotic currency pairs. Take note that, while they do accept clients from all over the world, there are a couple of noticeable exceptions such as the United States.
FBS Malaysia - General Information
FBS is a decent broker for international traders that like having a variety of options when it comes to trading instruments. The broker’s support system is prompt, and their platform is useful for both experienced traders and beginners. Furthermore, the platform is compatible with both smartphones and computers.
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💰 Account currency:
USD, EUR
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🚀 Minimum deposit:
$1
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⚖️ Leverage:
1:3000
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💱 Spread:
Minimum 0.5 pips
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🔧 Instruments:
Forex, metals, indices, futures contracts
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💹 Margin Call / Stop Out:
40% / 20%
FBS Malaysia Pros and Cons
👍 Pros
• Round-the-clock support
• Huge variety of trading instruments
•Easy and simple registration process
• No inactivity fee
👎 Cons
• Limited number of base currencies for funding accounts
FBS Malaysia Review
When you’re looking for an online broker, there are plenty of factors you’re keeping in mind. However, it all boils down to three things: whether the broker is trustworthy and legitimate, whether their fees are fair, and whether it has a decent variety of trading instruments.
FBS Malaysia fulfills all of those promises, and then some — with a well-developed platform that boasts responsive design features making it an excellent choice for both mobile phones and laptops.
There are several trade accounts to choose from as well, ensuring that every trader has the precise conditions that suit their preferred trading instruments and strategy. Plus, all traders in the EU get negative balance protection.
As we’ve shortly noted above, the company’s support staff is also quite responsive and welcoming — they work around the clock to ensure every trader’s needs are taken care of in a reasonable timeframe.
FBS Malaysia - Fees
Naturally, you’re interested in knowing the fees that you’ll be dealing with when you trade on FBS Malaysia. Luckily, the broker offers fairly low stock index and stock CFD fees — and there are no inactivity or withdrawal fees at all. The forex fees are not the most affordable you’ve seen, but they’re still average.
Compared to other brokers, FBS Malaysia offers a wide assortment of accounts — and your fees and spreads largely depend on the type of account you choose.
| Account type | Minimum deposit | Spread | Trade commission |
|---|---|---|---|
Cent |
$1 |
Floating spread starts at 1 pip |
$0 |
Micro |
$5 |
Fixed spread starts at 3 pips |
$0 |
Standard |
$100 |
Floating spread starts at 0.5 pips |
$0 |
Zero Spread |
$500 |
0 pip fixed spread |
Starts at $20 per lot |
ECN |
$1,000 |
Floating spread starts at -1 pips |
$6 |
Crypto |
$1 |
Floating spread starts at 1 pip |
0.05% each time you open or close a position |
As you can see, on lower accounts FBS Malaysia makes most of their profits from spreads — while higher-priced accounts have better spreads and fixed commissions. Also, the non-trading fees are practically non-existent. If we don’t count the conversion fee for base account currencies that aren’t supported by the system, there are practically no account, withdrawal, or deposit fees.
FBS Malaysia Trading Assets
If you’re interested in manual trading and want to get some valuable experience in a variety of global markets, FBS Malaysia is certainly an effective platform to do so. They offer the industry-standard MetaTrader interface as their main trading platform, but they don’t allow for passive investment options that many veteran, high-volume traders dabble in. So, you have an excellent platform for manual trading, but no copy trading or PAMM account options.
On the other hand, this lack of passive investment opportunities is more than made up for with a huge variety of trading instruments. On FBS Malaysia, traders can trade in both main and exotic currency pairs, as well as CFDs, indices, commodities, and metals. There’s also an extensive and lucrative affiliate program for people who want to partner up with FBS in a more long-term capacity.
Does FBS Offer Islamic Account?
Yes — FBS offers Forex Islamic accounts that are perfect for Muslim clients. They come with no interest charges or swap rates for overnight positions, allowing traders to do their work without being misaligned with the tenets of their faith. FBS aims to make online trading accessible and comfortable for everyone, regardless of their race, gender, or creed — which is always a welcome sight in this day and age.
Is Forex trading Halal? - Halal investment guideIs FBS Malaysia Regulated? Is This Сompany Safe?
As we’ve mentioned in the beginning, FBS is quite safe and well-regulated — they’re thoroughly vetted by the CySEC, the Australian ASIC, and the Belize-based IFSC. And if you’re wondering what this means for your safety — all of these international regulators are there to ensure that FBS and similar brokers operate in legal and legitimate ways.
This is especially crucial in terms of investment protection, because the CySEC regulatory body ensures that all clients from the European Union have their investment protected up to the tune of 20,00 Euros in case something goes wrong with FBS itself. And there’s also negative balance protection for European traders.
Summary. Is FBS Malaysia a Good Broker?
At the end of the day, it’s safe to say that FBS Malaysia is definitely an excellent international broker. They’re regulated by various reputable regulatory bodies from all over the globe, they provide a lot of different trading instruments, and their fees are pretty flexible and fair. While the investment protection is present only for Europeans, it’s still a very reputable broker.
Top 5 FBS Reviews
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Comment
Verifying an account on FBS is fast and easy if you have the recommended documents. This includes a government passport or ID issued the authorities. Make sure you upload both the front and back side of it then enter your accurate date of birth used on your official documents. Mine took time because my documents seem a bit old and some parts are no longer clear. I have to get another document to complete the verification. I would have saved myself the stress and trying over again with the verification process if i tried the first time with the updated documents that has an identifiable images of me.
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Comment
FBS leverage is one of the features traders with low deposits can use to open larger positions but it is important to use them with caution. I needed to understand how leverage works and a demo account is ideal for this to avoid losing my funds. The FBS demo account is a useful tool which i am using to learn how to trade with leverages which is what i really want to fully understand how to use before trade again in my real account. Opening a demo account on FBS is a straightforward process just that you must sign up on the platform to access the personal area where you can get the options to open a demo account starting with an initial balance of $20000. Leverage is up to 1:3000. Guy, my parctical advise. Please, don’t exceed leverage of more than 1 to 10/ Yes, you will need a higher minimum deposit, but trading with higher leverage is crazy.
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Comment
Opening an account on FBS is simple. The first step required me to enter my details but I have the option to sign up using my Gmail address. The next step demanded I select a trading platform, account currency and leverage, when I completed the process I realized I had a standard account opened for me. From the personal area I went ahead to open a demo account which was what I needed at the moment to practice. Opening a demo account is quite easy, from the personal area, you can click on add account, select the trading platform, account currency and initial balance. You can download the trading platform app or trade with FBS mt4 webtrader terminal. The web trader terminal interface is friendly and features simple trad
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Comment
I like this company. I almost doubled my deposit in six months. This is a very good result for me. But the most important thing is that FBS withdraws money without any problems. That is, the company fulfills all agreements with a client. Therefore, I believe that FBS can be trusted.
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Comment
For me, FBS was one of the first brokers I started trading with; earlier, they used to advertise more online. They had contests, and I even won one of them. Overall, I traded with FBS for a couple of years, and everything suited me. They had a separate blog with analytics, where there were some good materials. Now, many things are no longer available, although the broker continues to operate in the Forex market.
FAQs
Is FBS a legit broker?
Yes, they’re regulated by various institutions.
What is the minimum deposit for FBS?
It depends on your account, but the bare minimum for the most basic account is $1.
What type of broker is FBS?
While they offer plenty of trading instruments, their main ones are CFDs and Forex.
Where is FBS located?
The headquarters of the trader are registered in Belize.
Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.