FBS Pakistan Review 2024 - TU expert opinion
Is the Forex market legit in Pakistan?
Recent years have seen active growth in various sectors of the economy in Pakistan, with the Forex industry developing as well. Forex trading is legal in Pakistan, and its residents can trade currency assets without restrictions. In order to work in the local financial markets, brokers need to obtain a license from the Securities and Exchange Commission of Pakistan.
The important aspect is that Pakistan is a Muslim country. Therefore, brokers that are registered in the country officially must offer an Islamic account to their clients. There are no restrictions on trading instruments. Therefore, local traders have access to a large choice of assets.
How to Trade Forex in Pakistan
The first step to profitable trading in the Forex market is the choice of a brokerage company with a good reputation and a financial license. Next, you need to register a personal account on the website, pass verification and fund the account using one of the available options. You can learn to trade actively or use the features of a copy trading service.
Our Evaluation of FBS
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
FBS is one of the top brokers in the financial market with the TU Overall Score of 8.37 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews prove that the broker’s clients are fully satisfied with the company.
FBS is a broker for those who appreciate a variety of trading instruments and prompt support. The company is suitable for both beginners and experienced traders working on PCs and smartphones.
Detailed Review of FBS in Pakistan
FBS is a good choice for traders from Pakistan. The broker complies with all the requirements of the local regulator and offers attractive trading conditions for the clients.
FBS provides services in the Forex market globally. The company has been operating for a little over 10 years. The broker takes a responsible approach to performing the tasks assigned to it. FBS offers its trading clients optimal working conditions and popular financial instruments. The company is characterized by convenient trading terminals, including a mobile version of its own platform, and frequent innovations.
Because the regulator of FBS is the Cyprus Securities and Exchange Commission (CySEC), there is a guarantee of transparency and safety of the trader's funds.
Advantages of FBS for trading in Pakistan
Traders Union analysts conducted a detailed analysis of FBS for traders from Pakistan. The experts outlined the key benefits of the company for the clients from this country. The advantages of the broker are as follows:
good liquidity;
the availability of a regulator;
quotes using 5 points after the decimal point;
good trading conditions: two types of real accounts, as well as two options for demo trading accounts, relatively low spreads starting from 1 pip;
a good set of financial instruments: you can trade currencies, contracts for differences, and metals;
plenty of materials for training - allows a beginner to quickly master the principles of Forex trading;
protection against a gap (negative balance) - will prevent the loss of the deposit;
you can trade robots - it makes it possible to conduct automated trading;
hedging is allowed - allows you to reduce risks.
Analysis of the Main Features of FBS in Pakistan
Traders Union analysts analyzed the key features of FBS for traders from Pakistan. TU uses its own evaluation method, assessing each block separately. Based on the results of the assessment, an overall score is given.
Trading conditions for FBS traders from Pakistan
It is important to assess trading conditions before you decide to work with a specific company. Traders Union analysts have prepared a comparison of FBS trading conditions for traders from Pakistan. The experts analyzed minimum deposit, trading platforms, leverage and other important information that could impact a trader's choice of a broker.
💻 Trading platform: |
MetaTrader 4, MetaTrader 5, FBS Trader
|
---|---|
📊 Accounts: |
Standard account, cent account, demo standard account, demo cent
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💰 Account currency: |
EUR
|
💵 Replenishment / Withdrawal: |
Cards: Visa, MasterCard; e-wallets: Skrill, Neteller, Wire Transfer, Rapid Transfer
|
🚀 Minimum deposit: |
€10
|
⚖️ Leverage: |
1:3000
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💼 PAMM-accounts: |
No
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📈️ Min Order: |
0.01 lots
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💱 Spread: |
From 1 pip
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🔧 Instruments: |
Forex, indices, metals, futures contracts
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💹 Margin Call / Stop Out: |
40% / 20%
|
🏛 Liquidity provider: |
Currenex
|
📱 Mobile trading: |
Yes
|
➕ Affiliate program: |
Yes
|
📋 Orders execution: |
Market Execution
|
⭐ Trading features: |
Advisors; Hedging; Protection against a gap.
|
🎁 Contests and bonuses: |
Yes
|
FBS Commissions and Fees
Traders Union analysts analyzed commissions and fees charged by FBS for traders from Pakistan. Within the framework of the analysis, all types of trading and non-trading fees traders are charged with were evaluated.
The experts at Traders Union checked the broker for trading and non-trading commissions. In the category of trading commission, the company's spread was considered, and as a non-trading commission, various additional fees for withdrawing funds from the account were considered.
Account type | Spread (minimum value) | Withdrawal commission |
Standard | From $1.7 | No |
Cent | From $1.3 | No |
We have also analyzed and compared FBS trading fees with its competitors. Based on the results obtained, each brokerage company was assigned an appropriate level: low, medium, or high.
FAQs
Is FBS legal in Pakistan?
Yes. FBS operates legally in Pakistan. The broker holds the necessary licenses.
Can you learn trading with FBS? Does the broker offer courses for traders from Pakistan?
Yes, FBS offers good trading courses and a lot of educational information for clients from Pakistan.
Can FBS be trusted? Has the broker been operating in Pakistan long?
FBS has been operating in Pakistan quite long and has a good reputation. Therefore, traders can work with FBS.
Is FBS suitable for novice traders from Pakistan?
Yes. FBS offers optimal trading conditions and good education for beginners from Pakistan.
How efficient is FBS customer support in Pakistan?
FBS offers a sufficient number of ways to contact customer support in Pakistan, and also provides support in the state language.
Has FBS had any incidents involving theft of funds of clients from Pakistan?
No. FBS provides reliable security of funds of clients from Pakistan.
Will I be able to file a lawsuit in Pakistan if FBS violates my rights?
Yes. If FBS violates your rights, you can file a complaint with the regulator of Pakistan, and then with a court.
Can FBS clients from Pakistan use the broker’s mobile app?
Yes. The mobile app of FBS is available for the clients from Pakistan.
Does FBS provide Pakistan market analysis?
Analysis of Pakistan is featured in the information provided by FBS.
How can I withdraw funds from my account at FBS in Pakistan?
FBS supports bank transfers and debit/credit cards of the banks operating in Pakistan.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
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.