FBS vs RoboForex - Fees Review included
Which broker is better FBS or RoboForex? 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. RoboForex is one of the top brokers in the financial market with the TU Overall Score of 9.71 out of 10. Find out more about TU Overall Score.
| Feature | FBS | RoboForex |
|---|---|---|
Overall |
4.3 |
4.9 |
4.6 |
4.6 |
|
3.9 |
4.9 |
|
4.1 |
5 |
|
Investment Instruments |
4.7 |
4.8 |
Platforms and Charting Tools |
4.5 |
4.9 |
Deposit and Withdrawal |
4.2 |
4.8 |
Research |
3.9 |
4.9 |
Education |
4.2 |
4.8 |
Support |
3.9 |
5.0 |
Bonuses |
5 |
5 |
|
|
|
FBS vs RoboForex: 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.
RoboForex is a brokerage company that was founded in 2009. It provides services to financial markets in 169 countries. More than 3.5 million users are RoboForex clients. RoboForex is the leading software developer in the Forex industry. RoboForex is recognized as a reliable partner by the most respected financial market experts. The company has won numerous prestigious awards. The RoboForex group of companies has an international license to provide services from FSC Belize.
| FBS | RoboForex | |
|---|---|---|
| Overall Pros | A large selection of trading instruments | Trading With Leverage up to 1:2000 |
| Copyt trading platform | Near 9000 supported trading assets | |
| $140 no-deposit bonus (not available for EU clients) | Low trading and non trading fees | |
| Crypto account | Passive income with copy trading | |
| Great bonus programs | ||
| Instant withdrawal of funds | ||
| Best choice of Forex EA, Forex bots builder | ||
| Advanced trading platforms | ||
| Overall Cons | Hihg trading fees | Lack of cryptocurrency tools when trading on the R Trader platform |
| Slow exacution speed | A small number of currency pairs - 36, for accounts: Pro, Pro-Cent, ECN, Prime |
FBS vs RoboForex: Safety and Regulation
| Regulated By: | FBS | RoboForex |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
Yes |
No |
Other Regulators |
Belize IFSC, license IFSC/000102/310, South Africa - FSCA |
FSC (Belize) |
FBS vs RoboForex: Trading Conditions
| Trading Conditions | FBS | RoboForex |
|---|---|---|
Minimum Deposit |
$1 |
$10 |
Trading Platforms |
MetaTrader 4, MetaTrader 5, FBS Trader |
MT4, MT5, cTrader, R StocksTrader, RoboForex, |
Max Leverage (Futures) |
401769 |
1-2000 |
Supported Markets |
Forex, CFDs on stocks, indices, metals, energies, crypto |
Forex, Stocks, Indices, ETFs, Groceries, Energy commodities, Metals |
Trading assets |
200+ |
8700+ |
Trading Accounts |
Standard, Cent, ECN, Micro, Zero Spread, Copy Trade |
Pro, Pro Cent, ECN, Prime |
Base Account Currencies |
EUR, USD |
USD, EUR |
FBS vs RoboForex: Fees
Forex Trading Fees
| Fee | FBS | RoboForex |
|---|---|---|
Standard Account EURUSD Average Spread |
0.8 pips |
1.4 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$6 per lot |
$2 per lot |
ECN Account EUR Average Spread |
0.2 pips |
0.1 pip |
CFD Trading Fees
| Fee | FBS | RoboForex |
|---|---|---|
CFD Trading Fee |
US Shares - 0.7%, other markets - folating spread above the average |
Floating spread |
Non-Trading Fees
| Fee | FBS | RoboForex |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
1$ Visa, Neteller 2%, min - 1$, max - 30$ fee, Skrill - 1% + 0.32$, PerfectMoney - 0.5% |
No |
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 RoboForex: Trading Assets
| Asset Name | FBS | RoboForex |
|---|---|---|
Overall |
200+ |
9700+ trading assets |
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 (CFD) |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
FBS or RoboForex: Investment Programs
| Asset Name | FBS | RoboForex |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: RoboForex or FBS
| FBS | RoboForex | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
Yes |
Appropriate platform |
FBSTrader |
R StocksTrader, RoboForex Terminals |
Others |
No |
No |
|
|
|
FBS vs RoboForex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | FBS | RoboForex |
|---|---|---|
Bank Transfer |
No |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
No |
FBS vs RoboForex: Research
| Research Type | FBS | RoboForex |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
FBS vs RoboForex: Education
| Education Type | FBS | RoboForex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
Yes |
RoboForex vs FBS: Support
| Support Features | FBS | RoboForex |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
FB Messenger |
No |
FBS vs RoboForex: Forex Bonuses and Promo
| Promo | FBS | RoboForex |
|---|---|---|
Forex Bonus |
$140 no deposit bonus, up to 100% deposit bonus (Bonuses are not available for EU and UK clients) |
Welcome bonus $30 Classic first deposit bonus up to 120% |
Affiliate Program |
Up to 40% of trading commissions |
|
Other Promos |
By activating the option in the personal account, a trader can receive a cashback of up to $15 per lot |
|
|
|
|
Top 5 Reviews on RoboForex
-
Comment
Today,April 11, 2024, I made a deposit using a new payment method to fund my RoboForex trading account. I always received the deposited amount real-time in my previous service provider and was expecting the same this time. That did not happen unfortunately. I waited for five hours before finally contacting the RoboForex customer service just in case it was just a minor glitch in the system. The platform has a number of customer service channels to choose from like Whatsapp, Telegram, Messenger, etc which is convenient. I contacted them through Facebook Messenger at 2 pm local time (+8 GMT) and got a response right after I sent my concern. Website says customer service is 24/7. Was asked to provide my trading account number and made it clear that some transactions can take up to five business days to reflect, depending on the service provider. But somehow the funds made it into my account within the day after the interaction. Happy about their prompt response on this one.
-
Comment
I signed up with RoboForex two weeks ago and the process went smoothly overall. Only one thing to remember: they have a specific requirement on the password format which took a bit of my time. I use the same password on all my trading accounts which RoboForex kept rejecting, so had to come up with a new one which for me is a source of slight inconvenience for my future transactions. After submitting the documents confirming my identification and home address, they sent me an email informing that my MT4 Pro account has been successfully opened. It’s fast. There are four different account types to choose from: Demo, Real, CopyFX Trader, and Partner which appeals to different types of traders and I selected a demo since I am a beginner. From my understanding you can open multiple accounts at once and there can be different types, depending on preference. The demo account has a $10,000 balance and a 1:1000 leverage and I just started playing around. Wish they will be more flexible with th
-
Comment
RoboForex is a beginner-friendly platform. I was able to set up an account by following the instructions I saw in the blogs section. After setting up a demo account, I opened the web trader version of the trading platform, and the educational guides on how to trade I found on this trading platform have helped me in my trading journey. The educational resource explained the importance of studying the price movement of the asset you choose and how to select the order volume, of which 1.0 is the recommended value. Beginner traders can consider the educational resource available on the RoboForex platform as there are provisions for those looking to learn how to trade using major trading pairs like GBP/USD, EUR/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD, etc.
-
Comment
I've been trading with Roboforex for over 2 years now, and I can't say anything bad about the broker. Their trading conditions are better than those of larger companies. The spreads on ECN accounts are minimal; it's a pleasure to scalp on the EUR/USD pair. Yes, during increased volatility, spreads may widen, but I don't trade the news, so it's not essential for me. Also, I take advantage of Roboforex's free VPS for automated trading. I recommend this company
-
Comment
I've been trading with Roboforex for over 2 years now, and I can't say anything bad about the broker. Their trading conditions are better than those of larger companies. The spreads on ECN accounts are minimal; it's a pleasure to scalp on the EUR/USD pair. Yes, during increased volatility, spreads may widen, but I don't trade the news, so it's not essential for me. Also, I take advantage of Roboforex's free VPS for automated trading. I recommend this company.
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.
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!