FBS Philippines Review 2024 - TU expert opinion
Is the Forex market legit in Philippines?
Forex trading is legal in the Philippines, however there are certain difficulties. The operation of the Forex market in the Philippines is regulated by the Philippines Securities and Exchange Commission. Due to a complex law, there are few local brokers in the country. The Philippines Securities and Exchange Commission is generally hostile, which is why trading is problematic. However, the residents of the Philippines can use the services of international brokerage organizations. Therefore, it is worth considering the possibility of trading with international companies.
How to Trade Forex in the Philippines
For a safe start in the Forex market, you need to register on the website of an international brokerage company with a stable reputation, and a SEC license for providing financial services. Make sure you have a stable high-speed Internet connection on your device. After registering, pass verification and fund your account using your debit/credit card or another option. Next, you need to install a trading platform or download the broker’s mobile app if you plan to trade with your smartphone. As soon as your deposit is credited to your account, you can start trading any currency pairs your broker offers.
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 Philippines
FBS is a good choice for traders from Philippines. 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 Philippines
Traders Union analysts conducted a detailed analysis of FBS for traders from Philippines. 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 Philippines
Traders Union analysts analyzed the key features of FBS for traders from Philippines. 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 Philippines
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 Philippines. 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
|
💰 Account currency: |
EUR
|
💵 Replenishment / Withdrawal: |
Cards: Visa, MasterCard; e-wallets: Skrill, Neteller, Wire Transfer, Rapid Transfer
|
🚀 Minimum deposit: |
€10
|
⚖️ Leverage: |
1:3000
|
💼 PAMM-accounts: |
No
|
📈️ Min Order: |
0.01 lots
|
💱 Spread: |
From 1 pip
|
🔧 Instruments: |
Forex, indices, metals, futures contracts
|
💹 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 Philippines. 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 Philippines?
Yes. FBS operates legally in Philippines. The broker holds the necessary licenses.
Can you learn trading with FBS? Does the broker offer courses for traders from Philippines?
Yes, FBS offers good trading courses and a lot of educational information for clients from Philippines.
Can FBS be trusted? Has the broker been operating in Philippines long?
FBS has been operating in Philippines quite long and has a good reputation. Therefore, traders can work with FBS.
Is FBS suitable for novice traders from Philippines?
Yes. FBS offers optimal trading conditions and good education for beginners from Philippines.
How efficient is FBS customer support in Philippines?
FBS offers a sufficient number of ways to contact customer support in Philippines, and also provides support in the state language.
Has FBS had any incidents involving theft of funds of clients from Philippines?
No. FBS provides reliable security of funds of clients from Philippines.
Will I be able to file a lawsuit in Philippines if FBS violates my rights?
Yes. If FBS violates your rights, you can file a complaint with the regulator of Philippines, and then with a court.
Can FBS clients from Philippines use the broker’s mobile app?
Yes. The mobile app of FBS is available for the clients from Philippines.
Does FBS provide Philippines market analysis?
Analysis of Philippines is featured in the information provided by FBS.
How can I withdraw funds from my account at FBS in Philippines?
FBS supports bank transfers and debit/credit cards of the banks operating in Philippines.
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.