FBS Broker Review

FBS was founded in 2009 and regulated by both CySEC in Cyprus and IFSC in Belize. The company offers generous bonuses, useful educational material for novice traders, daily market analysis in various languages and presence in many countries. In terms of account types, FBS provides a wide range of selection for professional and beginner traders. There are six options; cent account, micro account, standard account, zero spread account, unlimited account and ECN account where spread could go below zero at the expense of $6 per lot. The 3000:1 leverage offered by FBS is the highest you could get among regulated forex brokers.

FBS – Step by Step Live Account Opening Guide

You should walk through a few simple steps in order to open a live trading account with FBS. The application and registration procedure can be performed electronically. In case you submit the required information properly and have the verification documents ready, the process should not take longer than several minutes.

The process starts with heading to FBS website for your jurisdiction (.eu for Europe, .com for others) and clicking the Click the “Open an Account” button in the top right corner. The procedure may slighty differ with respect to where you live (eg. Europe and International). The first image is from FBS.eu site which is for traders living in the European Union.

And this screenshot is from FBS.com for international clients.

Step 1 – Fill the Registration Form

Once you clicked on “Open an Account” button, you will be taken to the registration form. Here, you need to submit your basic personal information, e-mail address and choose the account type and currency. Make sure the e-mail address is valid since you will need to verify it later.

Step 2 – Complete Your Live Account Profile

Now, you need to complete your live account profile by submitting further information regarding yourself, trading experience and employment. Please note that this step is only compulsory for traders residing in Europe. If you dont live in Europe, it is not mandated for you to submit your detailed personal profile information.

It could even be possible to skip this entire step and to validate your account by uploading necessary documents outlined in the next steps. You can choose your preffered trading platform, fund your account and start trading right away if you are an international trader.

For traders living in Europe, the process involves three steps. After you confirmed your email address and logged in to the FBS client zone, you will be prompted to complete your live account profile by answering questionairres regarding your personal information including your gender, full address, phone number and trading experience.

Step 3 – Verify Your Live Trading Account

The final step is usually considered burdensome by some traders, however, it is probably the most critical one. In order to be able to withdraw money from your trading account, your account has to be verified.

Verification process varies depending on your residence. Traders residing in Europe have to upload two documents; one for Proof of ID and one for Prood of Residence. On the other hand, international traders have to submit only one document which is Proof od ID.

Applicable documets for verification;

• Proof of ID; copy of either an official ID card or passport.
• Proof of Address; copy of a utility bill or bank statement.

The scanned copies of those documents must be in proper format. Besides, make sure that the information is clear and visible so that compliance team of the Broker can validate it with the information that you have submitted during registration.

Utiliy bill or bank statement must include the exact address that you have entered into your profile. The date is important as well. FBS does not approve if the proof of address document is older than 3 months.

Your account should be verified in few hours given that you have submitted the information accurately and the documents are valid and in proper format. Once it is finished, you can download the trading platform, fund your FBS live account and start trading forex.