FBS South Africa Review 2024

FBS South Africa is a leading Forex broker with more than 11 years of experience in this field. This brokerage company has currently over 17 million active traders and works with over 410,000 partners from 150+ countries. FBS broker is regulated by the FSCA of south Africa, CySEC of Cyprus, IFSC of Belize, and ASIC of Australia.

To join FBS South Africa, traders only need to deposit 1 USD. There are 6 types of accounts to choose from, namely Cent, Micro, Standard, Zero Spread, ECN, and Crypto. After registering, traders can trade in 35 currency pairs, 4 metals, 11 indices, 3 energies, 66 stocks, and cryptocurrencies on the MT4, MT5, and FBS Trader platforms with no re-quotes. The spread starts from -1 pip and the maximum leverage is 1:3000. All strategies are welcome in all accounts.

At FBS South Africa, traders can deposit and withdraw their funds conveniently via various payment methods, such as credit/debit cards, e-wallets, local bank transfers, local exchange services, and cryptocurrencies.

This Forex broker is also famous for offering interesting bonuses such as $140 No deposit Bonus and holding exciting monthly Forex contests named FBS League.

In addition, FBS South Africa provides various resources, such as market analytics (Forex news and daily market analysis), trader tools (economic calendar and Forex calculator), and Forex education (guidebook, tips, webinars, videos, seminars, FAQs, and glossary) to traders to improve their Forex knowledge and skills.

For any help or questions, simply contact the 24/7 multilanguage support team. They are ready to help via live chat, email, or phone.

Account types offered by FBS South Africa

FBS South Africa offers 6 types of accounts, namely Cent, Micro, Standard, Zero Spread, ECN, and Crypto. After registering with FBS South Africa, traders can choose an account type based on their risk appetite, trading needs, and styles. All account types support swap-free trading (except the ECN account), which is ideal for Muslim traders.

Traders can trade in 35 currency pairs and 4 metals on the MT4 platform, as well as 35 currency pairs, 4 metals, 11 indices, 3 energies, 66 stocks, and cryptocurrencies on the MT5 platform in USD and EUR. All orders in all accounts, except ECN, are executed in real-time through the STP process in 0.3 seconds. In addition, all the FBS South Africa accounts accept all strategies and EAs with no re-quotes.

Cent

Minimum Deposit: $1
Leverage: 1:1000
Minimum trade size: 0.01
Spread Type: Floating from 1 pip
Commission: No
Account Currency: USD, EUR

👉 Open Cent

Standard

Minimum Deposit: $100
Leverage: 1:3000
Minimum trade size: 0.01
Spread Type: Floating from 0.5 pip
Commission: No
Account Currency: USD, EUR

👉 Open Standard

Micro

Minimum Deposit: $5
Leverage: 1:3000
Minimum trade size: 0.01
Spread Type: Tetap dari 3 pip
Commission: No
Account Currency: USD, EUR

👉 Open Micro

ECN

Minimum Deposit: $1000
Leverage: 1:500
Minimum trade size: 0.01
Spread Type: Floating from 0 pip
Commission: $6\lot
Account Currency: USD, EUR

👉 Open ECN

Zero Spread

Minimum Deposit: $500
Leverage: 1:3000
Minimum trade size: 0.01
Spread Type: Tetap (0 pip)
Commission: $20\lot
Account Currency: USD, EUR

👉 Open Zero

Crypto

Deposit Minimum: $1
Leverage: 1:5
Saiz dagangan terkecil: 0.01
Jenis Spread: Terapung dari 1 pip
Komisen: 0.05%
Matawang asas Akaun: USDT

👉 Open Crypto

1. Cent Account

Transactions in Cent account are carried out in cents, so it is low risk and thus beneficial for new traders. The minimum deposit is just 1 USD and traders can trade in the range of 0.01 to 1,000 cent lots and have up to 200 open positions. They can also enjoy floating spreads starting from 1 pip with leverage as high as 1:1000. The Cent account users do not need to pay any commission.

2. Micro Account

Meticulous traders can trade in smaller sizes by using micro-lots in the Micro account. This account is also preferred by traders who want to master various trading strategies. They can deposit a minimum of 5 USD to enjoy a fixed 3-pip spread and maximum leverage of 1:3000. Traders can open up to 200 positions in the range of 0.01 to 500 lots without any commission.

3. Standard Account

The Standard account is usually used by more experienced market players since it offers ultra-competitive floating spreads, starting from 0.5 pips. To use the maximum leverage of 1:3000 in this account, traders should make at least a $100 deposit, with no commission required. The order volume starts from 0.01 lots to 500 lots. Similar to the previous two account types, traders can open up to 200 positions.

4. Zero Spread Account

The next account type, Zero Spread Forex Account, is most suitable for experienced traders who prefer high-speed trading since it offers the fastest speed out of all account types. There is no spread for this account, but FBS South Africa charges a commission, starting from 20 USD per lot. By depositing at least 500 USD, traders can benefit from leverage as high as 1:3000 and a maximum of 200 open positions. The min and max order volumes are 0.01 lots and 500 lots, respectively.

5. ECN Account

Professional traders who want to experience the full power of trading usually prefer the ECN account. This account offers the best trading conditions, such as floating spread as low as -1 pip, leverage as high as 1:500, and no limit for the open positions. However, the minimum initial deposit is quite high, which is 1,000 USD and FBS South Africa charges a $6 commission. Traders can trade in the range of 0.1 to 500 lots. All orders in the ECN account are executed in an ECN environment.

6. Crypto Account

Crypto account is offered specially to traders who want to do crypto trading with low spread. The minimum deposit amount is 1 USD. The spread is floating starting from 1 pip, and the highest leverage is 1:5. Traders can trade in the range of 0.01 to 500 lots using the Crypto account. FBS South Africa charges a 0.05% commission for opening positions and another 0.05% for closing positions.

Aside from the aforementioned accounts, traders can also open a Copy-trading account as an Investor or Trader. Traders can get an additional commission by allowing their trading account to be copied by Investors. Investors can copy the trades of a professional trader and avoid dealing with complicated forex strategies. Bear in mind that the investors can only copy the trades from the MT4 Micro and MT4 Standard accounts.

It is also possible to practice with the Demo account in which virtual currency is used for transactions.

How to deposit and withdraw funds at FBS South Africa

FBS South Africa offers a plethora of deposit and withdrawal methods.

Traders can use credit cards (VISA, Mastercard, Maestro), electronic payments (Neteller, Skrill, WebMoney, Sticpay, PerfectMoney, etc.), local bank transfers (via NetBanking), and local exchange services. In addition, FBS South Africa offers cryptocurrencies for deposits and withdrawals, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

Each deposit method requires different commissions and processing times as follows:

VISA, Neteller, Skrill (USD, EUR) --> no commission, processed instantly
Sticpay (USD) --> 2.5% + 0.3 USD commission, processed instantly
Perfect Money (USD, EUR) --> commission may apply, processed instantly
Webmoney (USD, EUR) --> commission may apply, processed instantly
Bank wire transfer --> 5-7 bank business days
Other payment systems --> typically within 1-2 hours

To withdraw the fund from FBS South Africa, different commission fees are charged:

VISA (USD, EUR) --> 1 USD commission, 15-20 minutes, 2 days max
Neteller (USD, EUR) --> 2% commission (min. 1 USD, max. 30 USD), 15-20 minutes, 2 days max
Sticpay (USD) --> 2.5% + 0,3 USD commission, 15-20 minutes, 2 days max
Skrill (USD, EUR) --> 1% + 0.32 commission, 15-20 minutes, 2 days max
Perfect Money (USD, EUR) --> 0.5% commission, 15-20 minutes, 2 days max
Webmoney (USD, EUR) --> 0.8% commission, 15-20 minutes, 2 days max
Bank wire transfer --> 7-10 business days
Credit/debit card --> 3-4 business days

To avoid any delay in the deposit processing, make sure that the name on the Forex account is the same as the name on the payment method. Moreover, withdrawals can only be done via the same payment system used for the deposit.

If traders have an inactive account, FBS South Africa will not deduct any fees. However, their account will be archived after three months of inactivity.

Is FBS South Africa reliable and safe?

Founded in 2009, FBS Broker has more than 11 years of experience in online trading services. In its first year of operation, FBS broker already served more than 50,000 clients, and now they have more than 17 million active traders and 410,000 partners from over 150 countries.

Moreover, to attest to their competency and excellence, FBS Broker has received numerous international awards, including the Best International Forex Broker, Most Transparent Forex Broker 2018, Best Forex Trading Account 2018, and Best Forex Broker Asia 2018.

FBS brokerage company is licensed by FSCA in South Africa, CySEC in Cyprus, ASIC in Australia, and IFSC in Belize. Being regulated by established regulators, FBS South Africa has to comply with the international regulatory standards, fulfill the minimum equity capital requirement, and be audited periodically.

Traders do not need to worry about the safety of their funds as FBS South Africa uses segregated bank accounts and offers negative balance protection. This broker also applies Anti-Money Laundering (AML) policy so that traders’ funds are 100% secure. As an A-Book no-dealing desk and non-market-maker brokerage company, FBS South Africa provides both STP and ECN environments. They direct traders’ orders right to liquidity providers, thus making them more trustworthy.

Types of spreads in FBS South Africa

The spreads in FBS South Africa are different depending on the account types. They offer 5-digit quotes precision.

The Cent, Standard, ECN, and Crypto accounts come with tight floating spreads from 1 pip, 0.5 pip, -1 pip, and 1 pip, respectively. The other two accounts come with fixed spreads, 3 pips for the Micro account and 0 pip for the Zero Spread account.

The table below provides the current average spreads for common currency pairs counted in pips:

Trading platforms offered by FBS South Africa

To ensure the best trading experience, FBS South Africa offers 3 trading platforms, namely MetaTrader 4, MetaTrader 5, and FBS Trader. These three platforms provide up-to-date tools and numerous analytical patterns and are available on both website and mobile versions.

The popular MT4 platform can be used on the web, Android, iOS, Windows, Mac, and multiterminal. This platform offers 50 indicators and charting tools, VPS service, 4 types of pending orders, embedded news, and one-click trading.

The advanced MT5 platform can be used on the web, Android, iOS, Windows, and Mac. As a more versatile software than MT4, it offers 90 indicators and charting tools, VPS service, 6 types of pending orders, 21 timeframes, economic calendar, embedded news, and one-click trading.

The innovative FBS Trader platform is only available on Android and iOS. However, traders can use the WebTrader from the FBS South Africa website. By using this platform, they can enjoy secure and fast transactions with various bonuses and cashback offers.

FBS South Africa Review 2024

Account types offered by FBS South Africa

How to deposit and withdraw funds at FBS South Africa

Is FBS South Africa reliable and safe?

Types of spreads in FBS South Africa

Trading platforms offered by FBS South Africa

Key advantages of trading with FBS South Africa