FBS vs FXOpen - Fees Review included
Which broker is better FBS or FXOpen? Our expert assessment conducted according to TU’s own methodology showed that FBS is one of the top brokers in the financial market with the TU Overall Score of 8.98 out of 10. FXOpen is one of the top brokers in the financial market with the TU Overall Score of 6.33 out of 10. Find out more about TU Overall Score.
| Feature | FBS | FXOpen |
|---|---|---|
Overall |
4.3 |
4.6 |
4.6 |
4.5 |
|
3.9 |
4.8 |
|
4.1 |
4.3 |
|
Investment Instruments |
4.7 |
3.9 |
Platforms and Charting Tools |
4.5 |
4.6 |
Deposit and Withdrawal |
4.2 |
4.7 |
Research |
3.9 |
4.2 |
Education |
4.2 |
4.3 |
Support |
3.9 |
4.7 |
Bonuses |
5 |
4.7 |
|
|
|
FBS vs FXOpen: Pros and Cons
FBS (fbs.com) is an international broker operating in 190 countries. The brokerage company has been on the market for over 10 years, and during this time it has earned about 40 international awards. It is regulated by the CySEC under license number 331/17 and provides flexible conditions for Forex trading. FBS is especially popular in Asian countries such as India, Malaysia and Indonesia.
FXOpen Broker Company was established in Cairo in 2003. In 2005 it commenced dealing services, and thereafter became one of the leaders in the Forex industry. The company has held its high-level service through optimum trading conditions, innovative technologies, and a wide range of financial services.
| FBS | FXOpen | |
|---|---|---|
| Overall Pros | A large selection of trading instruments | profitable trading conditions for the trader of any experience level from beginner to professional |
| Copyt trading platform | minimum commissions for withdrawal and Cash-back program, which will reduce your commission fees further | |
| $140 no-deposit bonus (not available for EU clients) | PAMM-service for successful traders’ transactions copying | |
| Crypto account | auto-trading availability | |
| convenient reports on account status to the end of the day and month. | ||
| Overall Cons | Hihg trading fees | insufficient amount of training materials |
| Slow exacution speed | there is no way to order a call back |
FBS vs FXOpen: Safety and Regulation
| Regulated By: | FBS | FXOpen |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
Yes |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
Yes |
Yes |
Other Regulators |
Belize IFSC, license IFSC/000102/310, South Africa - FSCA |
Nevis |
FBS vs FXOpen: Trading Conditions
| Trading Conditions | FBS | FXOpen |
|---|---|---|
Minimum Deposit |
$1 |
$1 |
Trading Platforms |
MetaTrader 4, MetaTrader 5, FBS Trader |
MT4, MT5, WebTrader, Mobile app |
Max Leverage (Futures) |
401769 |
1-500 |
Supported Markets |
Forex, CFDs on stocks, indices, metals, energies, crypto |
Forex, CFD, indices, gold and silver, Cryptocurrencies |
Trading assets |
200+ |
|
Trading Accounts |
Standard, Cent, ECN, Micro, Zero Spread, Copy Trade |
Demo, Micro, ECN, STP, Crypto, Islamic accounts |
Base Account Currencies |
EUR, USD |
USD, EUR, GBP, CAD, AUD, CHF, JPY, CNY |
FBS vs FXOpen: Fees
Forex Trading Fees
| Fee | FBS | FXOpen |
|---|---|---|
Standard Account EURUSD Average Spread |
0.8 pips |
0.1 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$6 per lot |
$1.5-3.5 per lot |
ECN Account EUR Average Spread |
0.2 pips |
0.1 pips |
CFD Trading Fees
| Fee | FBS | FXOpen |
|---|---|---|
CFD Trading Fee |
US Shares - 0.7%, other markets - folating spread above the average |
Floating spread, shares - 0.1% |
Non-Trading Fees
| Fee | FBS | FXOpen |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
1$ Visa, Neteller 2%, min - 1$, max - 30$ fee, Skrill - 1% + 0.32$, PerfectMoney - 0.5% |
Bank Transfer from $45, Bank Cards - 2.5%, China's Union Pay 3.5%, Electronic Wallets 0.5 - 2% |
Inactivity Fee |
No |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
FBS vs FXOpen: Trading Assets
| Asset Name | FBS | FXOpen |
|---|---|---|
Overall |
200+ |
200+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
Yes |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
FBS or FXOpen: Investment Programs
| Asset Name | FBS | FXOpen |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: FXOpen or FBS
| FBS | FXOpen | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
FBSTrader |
No |
Others |
No |
No |
|
|
|
FBS vs FXOpen: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | FBS | FXOpen |
|---|---|---|
Bank Transfer |
No |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
No |
FBS vs FXOpen: Research
| Research Type | FBS | FXOpen |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
FBS vs FXOpen: Education
| Education Type | FBS | FXOpen |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
No |
Cent account |
Yes |
Yes |
FXOpen vs FBS: Support
| Support Features | FBS | FXOpen |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
FB Messenger |
No |
FBS vs FXOpen: Forex Bonuses and Promo
| Promo | FBS | FXOpen |
|---|---|---|
Forex Bonus |
$140 no deposit bonus, up to 100% deposit bonus (Bonuses are not available for EU and UK clients) |
A $10 bonus is credited after opening a personal account (eWallet) and passing the 2nd level of verification. (for STP-type accounts); A welcome bonus of $1 is credited when opening a Micro account. |
Affiliate Program |
There is a flexible system of remunerations and coefficients depending on these indicators. 1st level — 100% of the standard commission, 2nd level — 35% of the standard commission, 3rd level — 10% of the standard commission. |
|
Other Promos |
By activating the option in the personal account, a trader can receive a cashback of up to $15 per lot |
Forex Cup - A bonus in the amount of 1% of the profit is credited for participating in contests for traders on a virtual account, FXOpen Cashback - The broker refunds a part of the funds for the trading operations conducted, including unprofitable ones. The amount depends on the margin involved in all accounts and ranges from $5 to $1,000. |
|
|
|
Top 5 Reviews on FXOpen
-
Comment
Normal broker. However, it is gradually moving away from microtrading. On the plus side, it is really regulated and fulfills the requirements of regulators.
-
Comment
I have been trading with this broker for almost 5 years. I like its favorable trading conditions; what is most important to me is the minimum spreads and commissions. Execution of transactions in the terminal is instantaneous, which is very important for intraday trading and scalping trading. Profits are withdrawn quickly, but during the day, that is, you have to wait.
-
Comment
I started trading at FXOpen a few months ago, trading on the EURUSD pair, the spread is relatively low, I like scalping, and trading with the MT4 platform, and order execution is smooth, both when opening orders and closing orders.
-
Comment
FXOpen complies with conditions of the promotion with the account transfer. I recently finished the process. The promised 30% was credited to the account. The broker’s manager said that the bonus is tradable. I haven’t been able to check it yet, since it requires a decent drawdown. But I think that's true. At least the manager assured me and this is specified in the documents provided on the website. I have been actively trading for several days, so far there are no comments for FXOpen.
-
Comment
I have been working with fxopen for more than a year, and so far my opinion is rather neutral. There were no problems, technically everything was fine too. The service level corresponds to an experienced broker. I don’t yet see any reason for criticism, as well as for admiration. I got what I expected. But I’m trading with TradersWay not for long, so my review is not yet objective.
Top 5 Reviews on FBS
-
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.
-
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.
-
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
-
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.
-
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.
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
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.