FBS - Brokerage

Beginner Questions
1

Hi Team

Thanks for the great insights into who different brokerage firms operate as i am in the market for a great broker. I was using FXTM but their spreads are to high and thus squeeze out my profits. I recently tried FBS but before i deposit my hard earned money. i would like to know if anyone currently uses them and how has the experience been

2

I think you should check out the reviews on FPA website. Check one to two pages and make a decision. FBS has been around for some time now. I only used their demo some time ago. ask them if the spreads on their demo account is same on a live account, that way you’ll know what you getting into.

3

Hi There,
I had a similar problem yesterday. My planner told me that I was late in choosing a broker account. The last one I had in 2011 was MF Global, and they went bankrupt just 2 days after I closed my account with them. My best ever experience of sticking to my own business plan dates! Anyway, I googled a couple of broker review sites, read two who ranked FCA regulated brokers in the UK, decided that history and reputation were better criteria than market costs, and opened an account with a broker who was top of one rating review and third in another rating review. Been around since 2005. I deposited funds and created a real and a demo account with access to MT4 (and MT5) and started the long process of relearning what I knew in 2011. Printed off four charts with a view to creating strategies for EURUSD, gold and silver (my favourite “no counterparty risk” investments), and satisfied myself with a job well done.

4

I have been using FBS Broker for 2 years now. So far so good.

5

I see; they have only 2.7 start out of 5 in FPA & just read the 1st page of it; you’ll have the idea! Whatever, it’s your own choice!

6

Thank you for all the feedback - happy trading

7

I already trade at FBS. I have judged with my feeling that the spread is high and there is a withdrawal fee.
You can see it here In search of the Best Broker to start Forex trade

8

Maybe you should try Forexchief if you are looking for lower spreads. FBS has also stand the test of time, but I have not tried it.

9

1st time hearing on this broker; is this regulated?

10

thank you and how is FOREXCHIEF leverage wise

11

Forexchief leverage is between 1:1 to 1:1000. I’ll advice you to use carefully. If you have about $5000 capital, there is no need to use high leverage. I think 1:10 to 50 would do.

12

If you want to test the strategy with a cent account then choose FBS. But the disadvantage is the high spread, I only use it to test the strategy. If you want a good spread, then www.icmarkets.com
And if you need important FCA license I see this www.hotforex.com. In addition, I personally find the quality to be normal

13

Leverage is not really a big issue when it comes to selecting a broker. The most annoying part is getting high slippage or stop loss hunting. You see why I prefer this Forexchief broker is that you don’t experience any of those annoying shitty things on their platform. Clean trading is how it is.