One of the tools for obtaining passive income from the FBS broker is the transaction copying service. The company offers a proprietary trading platform. The special feature of CopyTrade from FBS is that it is designed only for mobile devices.
The broker has developed a separate application for copying trades, which is available for smartphones and tablets on Android and iOS. Traders Union has prepared an overview of FBS’s copy trading platform and will discuss the main features of the service. For more information, see: How to Copy Traders, as well as user reviews.
FBS Copy Trading System Review - Real Customer Reviews
Below you will find all the information.
Definition of сopy trading
The first platforms for copying transactions began to appear around 2010. Since then, this feature has been rapidly gaining popularity and is used by millions of traders globally.
It works quite simply:
the client chooses the strategy provider (aka the “trading manager” or “signals provider”), whose trades will be copied;
the user subscribes to the manager's page and sets the parameters for copying trades (specifies the amount, selects trading instruments, etc.);
after subscribing, all trades opened by the strategy provider are opened in the subscriber's trading terminal (if they meet the specified parameters).
Copy trading –is an effective learning tool. If the user does not have sufficient skills for independent trading, they can learn how to trade by studying the work of more experienced trading managers.
It is important to know that trading with the help of copy traders is not a guaranteed tool for making a profit or avoid losses. The risks of losing money still remain. Therefore, the choice of a manager should be done wisely.
What is the FBS CopyTrade network in 2024
 Copy trading program |
CopyTrade |
 Regulator |
Cyprus (CySEC), Belize (IFSC) |
 Minimum investment for copying |
1 USD |
 Terminal |
MT5 |
 Commissions for traders |
Commission on the profit from transactions. Max – 5% |
 Deposits and withdrawals |
Bank cards, Neteller, Skrill, Sticpay |
 Markets to copy |
Forex, CFDs on stocks, indices, metals |
 Number of tools |
100+ |
 Average spread in EUR/USD |
1.1 |
 Network Scale |
600 strategy providers |
Review of FBS CopyTrade
You can download the CopyTrade app from FBS in the App Store or from the Google Play store. You can also download the file in APK format from the official website of the broker. The interface of the company's mobile app looks like this:
Risk-free investments
The broker makes a special offer for new clients which is copy trading without risk. To get the bonus, you must:
register on the platform;
pass verification;
top up your account with 100 USD.
Copying traders on FBS without risk involves transactions with an automatic Stop Loss of 10%. If the Stop Loss is triggered, the broker compensates the clients for the loss. However, the special offer only applies to three trades - one for three different traders. To select traders for conditionally risk-free trades, you need to click on the Risk-Free Investments field on the main page of the app.
Trader statistics
The statistics of traders in the CopyTrader FBS application are basic only and lack details. On the start screen of the strategy provider's page, you will see basic information about their account, including:
the number of traders who are subscribed to the manager;
amount of investor funds under management;
the number of days the account has been working;
commission for services.
Next, CopyTrader FBS app offers to acquaint you with the trading statistics of the strategy provider.
The service provides the following information:
activity - the ratio of the duration of open transactions to the total lifetime of the account;
the number of closed orders and the ratio of profitable to unprofitable trades;
maximum drawdown;
Return rate;
Risk level.
You can also click on the Details button in the Closed Orders Total section. There you will find information on trading instruments and the number of transactions for each of them.
In general, we consider the list of data on the FBS copy service to be poorly developed. In particular, there are almost no charts or infographics, which makes it very difficult to track the dynamics. There is no infographic on the risk of trading strategies, so it is not clear whether the trader is working only on a single strategy or experiment. There is also a lack of detailed data on trading instruments.
Pros and cons of copying trades on FBS
👍 Pros
• User-friendly app
• Regulated by CySEC
• You can choose a trading account with low spreads. Managers' commissions are low.
• There is a special offer with risk-free deals
👎 Cons
• The desktop and online versions are missing
• Limited statistics on traders
• There are few parameters in the filters
• There are few individual settings for copy trading
How to find the right trader to copy
Before you start copying traders on FBS, you first need to select the appropriate strategy providers. The total number of managers for copying transactions is on FBS is about 600. There is a Favorites function, and there you can add traders for further comparison. You can use search to find and select a manager. You need to specify the manager’s nickname, and the system will find it according to your request.
Traders list
The service for copying trades on FBS offers you to select strategy providers and use the lists of traders. In total, the platform offers users three lists:
Wise choice;
Top rated by various metrics;
Most popular.
Five traders who are the FBS team's choice have been added to the Wise Choice list. The remaining lists include eight strategy providers, ranked as the best in terms of trading indicators or in terms of the number of his subscribers.
Sorting and filtering
On the FBS deal copying service, you can enable the sorting of strategy providers by the parameters you are interested in.
ForexCopy filters get a low rating for two reasons.
In total, the platform has five criteria by which you can sort managers:
Return Rate;
Activity;
Risk Level;
Copiers;
Commission.
Sorting by commissions on FBS for copying traders is carried out from smaller to larger. It is the opposite way for other indicators.
There is also support for filters, but they are even more limited in functionality. The filter comprises only four indicators:
minimum number of closed orders;
minimum number of trading days;
percentage of activity;
percentage of the risk level of the strategy.
Additionally, you can select the manager's country and filter out inactive accounts by clicking on the Only Active Traders item. It is also possible to copy traders on FBS with the PRO status.
In the opinion of the experts at Traders Union, the number of indicators for which you can configure filters is not enough. For example, here it is impossible to filter traders by the level of profit, the percentage of profitable trades, and the lifetime profits of the account.
How to start copying traders on FBS
It is quite easy to copy trades on FBS.
After you download the app, you need to register or log in. If you already have a trading account on FBS, you can also use it for copy trading. Also, after installing the app, you can set a PIN code and set up a biometrics login, which makes logging in fast and secure. FBS is a good choice in terms of protecting your account.
To go to the selection of strategy providers, hit the Traders List item in the lower menu of the application. The broker provides a brief overview of the statistics, indicating the Return rate, the risk level of the strategy, the level of activity, and the number of subscribers.
Start copying a trader by going to his profile. You will find the Copy and Risk-Free buttons at the bottom of the screen. If you choose Risk-Free, the broker will return the possible loss amount after the first trade.
After clicking on the Copy button, FBS will prompt you to configure the parameters for copying trades. Here you can set the amount that you allocate for copy trading on this strategy provider, see the commission, and set the amounts for Take Profit and Stop Loss. After that, you only need to click on the Start Copying button.
Can I make money by copying traders on FBS?
The FBS trade copying service clearly allows you to earn money. Profitability indicators can vary because they depend on the activity of the trader, the degree of risk of their trading strategy, etc. In addition, the profitability may depend on the amount that you are willing to invest in copy trading via a particular strategy provider.
However, copy trading does not protect the trader from losing money. FBS has risk-free deals, but their number is limited. The risks of losing money remain. Therefore, when copying transactions, strictly adhere to the rules of risk management. It is important!
What does FBS copy trading cost?
The FBS broker does not demand a specialized commission for copy trading. You can download the app and register for free. The FBS commission is charged directly for transactions and depends on the trading account that you choose when registering.
The options may be as follows:
spread – average for EUR/USD = 1.1;
fixed commission – for EUR/USD = 20 USD per lot.
You can also select an ECN account on which the spread starts from 0 points, and the commission is 6 USD. Thus, if you create an account directly for copying trades, you can choose fairly favorable trading conditions.
Subscribers pay a commission to the strategy providers, as a percentage of the profit on each transaction. The maximum commission level on the platform is set at 5%. Thus, the conditions for copy trading on FBS can be considered favorable for subscribers.
Is FBS copy trading safe?
The FBS broker operates legally and transparently. The company received two licenses for conducting financial activity. The first one was issued by the Cyprus regulator – CySEC under license number 331/17. The second document was issued by Belize Finance Commission (IFSC) with the number of the financial activity permit being IFSC/000102/124. The presence of a license from the authoritative regulator CySEC can be considered as proof of the reliability of the FBS company.
Summary
The copy trading service from FBS is relatively young, it was launched only in 2018. Therefore, the audience is small, with only 600 strategy providers, and only two managers have more than 1,000 subscribers; and only 39 traders have more than 100 people. The FBS transaction copy platform is focused only on mobile devices.
The application is quite simple to use, but some options are still missing. For example, the statistics on strategy providers are not very well developed. Among the advantages, we can note that the platform is regulated by the reliable CySEC regulator and there are fairly favorable conditions for copying.
Expert’s review
The FBS social trading platform was developed with the future in mind. The creators rightly assumed that the share of mobile devices in the trading segment would grow. As a consequence, it focused primarily on gadget-loving customers. However, it is worth saying that apparently FBS focused too much on the distant future, even though many traders use computers, etc., today.
For example, the design of the app is minimalistic and pleasant, the platform works quickly, and the navigation is easy. However, the best FBS copy trading apps are still a long way off. The main problem is the limited search capabilities. The parameters in the filters are not sufficient, and the statistics can be significantly improved. Given the importance of choosing a strategy provider for copy trading, these deficiencies should be immediately resolved and improved multifold by the broker.
Attractive conditions for copy trading are an important advantage of FBS. For example, the minimum deposit corresponds to the selected trading account type. Accordingly, you can copy transactions with any amount on the deposit, starting from 1 USD. Also, a special offer that allows you to test the platform without risk is worth noting.
Antony Robertson
Traders Union financial analyst
Reviews of CopyTrade by the users of FBS
I have been using this platform almost from the very beginning. I really like their CopyTrade app. It is convenient, everything works quickly, and there are no problems with productivity. In addition, it is well protected, so I don’t have to worry about someone hacking into my account and withdrawing money. The platform brings a stable profit, and the team provides constant support for the application. I am satisfied with everything in working with this company.
Emem Traylor
CEO
Nigeria
I decided to try the FBS CopyTrade service after a colleague's recommendation. I was pleased that there are three risk-free transactions there. Two of them were profitable, one was unprofitable, but the money was returned. This helped me find the two traders I am currently working with. Income is about 5% per month, and I work with managers with low-risk strategies.
Rajani Key
web-designer
India
I didn't like this deal copying service. Information about the traders is insufficient. User selection is difficult due to very limited filters. Individual settings for copying transactions are also not provided. Managers have nothing to be interested in here, except a small commission. For me, the lack of a PC and online platform is also a disadvantage.
Henry Miller
investor
South Africa
FAQ
What trading platform is used for copy trading?
Use the MetaTrader 5 terminal to copy trades. Before you start copy trading, you need to download the MT5 mobile app on your smartphone or tablet and log in to your account on the trading platform.
What currencies does FBS support?
The FBS broker supports two currencies, the USD and the EUR. However, you can also use other currencies for financial transactions. They will be automatically converted to the selected basic currency at the proper exchange rate.
What does a manager’s PRO status mean on FBS?
The PRO status is awarded to traders whose trading turnover on the platform has exceeded $5,000.
Can I subscribe to more than one trader? Are there any restrictions?
The FBS copy trading platform does not provide restrictions on the number of subscriptions. You can copy trades from any number of traders simultaneously.
