FBS South Africa Review 2024 - TU expert opinion
Is the Forex market legit in South Africa?
Detailed Review of FBS in South Africa
FBS is a good choice for traders from South Africa. 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 South Africa
Traders Union analysts conducted a detailed analysis of FBS for traders from South Africa. 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 South Africa
Traders Union analysts analyzed the key features of FBS for traders from South Africa. 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 South Africa
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 South Africa. 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 South Africa. 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.
Expert Review of FBS
The FBS broker fulfills its obligations as a partner to Traders Union and is recognized by the members of the Union as a company that offers clients optimal trading conditions.
The FBS brokerage company provides traders with several trading accounts to choose from: a free demo account and several types of real accounts with different conditions. This allows its clients to choose the best option based on the trading strategy and financial instrument, as well as individual requirements. The broker provides all traders with negative balance protection.
Considering all this, we can say that the FBS broker is suitable for both novice traders and professionals of foreign exchange trading. It should be noted that the company's support service works around the clock, 7 days a week, and you don't have to wait long for an answer. The broker's website is simple, you can understand it intuitively.
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FAQs
Is FBS legal in South Africa?
Yes. FBS operates legally in South Africa. The broker holds the necessary licenses.
Can you learn trading with FBS? Does the broker offer courses for traders from South Africa?
Yes, FBS offers good trading courses and a lot of educational information for clients from South Africa.
Can FBS be trusted? Has the broker been operating in South Africa long?
FBS has been operating in South Africa quite long and has a good reputation. Therefore, traders can work with FBS.
Is FBS suitable for novice traders from South Africa?
Yes. FBS offers optimal trading conditions and good education for beginners from South Africa.
How efficient is FBS customer support in South Africa?
FBS offers a sufficient number of ways to contact customer support in South Africa, and also provides support in the state language.
Has FBS had any incidents involving theft of funds of clients from South Africa?
No. FBS provides reliable security of funds of clients from South Africa.
Will I be able to file a lawsuit in South Africa if FBS violates my rights?
Yes. If FBS violates your rights, you can file a complaint with the regulator of South Africa, and then with a court.
Can FBS clients from South Africa use the broker’s mobile app?
Yes. The mobile app of FBS is available for the clients from South Africa.
Does FBS provide South Africa market analysis?
Analysis of South Africa is featured in the information provided by FBS.
How can I withdraw funds from my account at FBS in South Africa?
FBS supports bank transfers and debit/credit cards of the banks operating in South Africa.
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.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!