FBS Broker Review

Kenyans can trade forex and CFDs via FBS, an online broker. The information we’ll cover in this guide includes broker’s regulation, leverage, spreads, minimum deposits, and more. You can use this guide if you are planning to open an account with this broker.

Since 2009, FBS Markets Inc. has been operating under this brand name. There are 15 million traders and 410,000 affiliates among the broker’s presence in 190 countries.

You can find our comprehensive review on FBS. Broker reviews are updated regularly!


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Each day, the company receives and processes 7,000 new accounts, and it executes one withdrawal request every 20 seconds, according to the company’s website. Nevertheless, most of its clients remain loyal to the broker, and 48% say they gain most of their income from trading with FBS.

Below you will find our transparent review of this broker for Kenyan traders.

User Experience: Use the Table of Contents table instantly to jump to sections of interest.

Is FBS regulated in Kenya?

The Cyprus Securities and Exchange Commission (CySEC) regulates FBS in Cyprus, owned by Tradestone. It is managed by FBS Markets Inc., regulated by the International Financial Services Commission of Belize (IFSC).

Located in the heart of Europe, Cyprus offers multinational financial companies both regulatory and regulatory flexibility. The firm had previously provided its services through a subsidiary based in Belize before obtaining the CySEC license.

Negative balances are available at this broker. A negative balance protects traders from market changes and price fluctuation, adding an extra layer of defense.

The FBS Markets Inc. service is unavailable in the USA, Canada, United Kingdom, Japan, Malaysia, Israel, or Iran. But it is available in Kenya, and Kenyan traders rely on it due to its regulatory bodies.


FBS is a worldwide company specialising in Financial Brokerage Services. It is registered with CySEC, ASIC, IFSA, and FSCA and a Cyprus registered company.

It also has offices in the Marshall Islands and Belize, offshore zones that cannot independently demonstrate their reliability.

It is regulated by European CySEC, enabling it to comply with regulatory requirements and provide reliable trading conditions.

Traders’ funds are kept in segregated accounts, preventing them from accessing other companies, and the broker enhances its capabilities by protecting negative balances.

Because the company is a Cyprus Investment Firm, clients’ investment is protected in the case of the broker’s bankruptcy under the Compensation Scheme.

Tradable products

You can trade 75 CFD instruments at FBS, including currency pairs, indices, energies, metals, and stocks.

A wide range of assets can be traded, including:

  • Twenty-eight standard forex pairs and sixteen exotic pairs.
  • Gold, silver, copper, and aluminium – four precious metals
  • Energy – WTI and Brent crude oil
  • 40 company shares (only available to global users)
  • NASDAQ and multiple indexes

Cryptocurrencies like Bitcoin can’t be traded due to their inaccessibility.

A trader’s spread, commissions, and overnight (swap) rate are dependent on the instrument they are trading and the account type they have opened. We’ll discuss them in more detail later.

FBS Account types

There are five trading accounts offered by FBS: Cent, Micro, Standard, Zero Spread, and ECN.

The terms and benefits of each account are different. A cent, micro, or standard account, for instance, does not have a commission. A minimum initial deposit of $1 to $100 is required for these accounts, offering fixed or floating spread options.

In the Zero Spread Account, the spread comprises zero pips, and the leverage is 1:3000.

A trading account with an ECN provider requires a minimum deposit of $1,000, a commission of $6 per lot, and a leverage maximum of one:500.

How to open an account at FBS?

On the broker’s website, click the Open Account button to open an account. This will then direct you to a login page to enter your email address, full name and sign the Customer Agreement. Following that, you will have the option of choosing the MetaTrader version, the currency for your account (USD or EUR), and leverage. Afterwards, you will be able to access your FBS client portal immediately and gain access to your login information.

You can monitor and update trading accounts through the Client Portal, apply for promotional offers, deposit and withdraw funds, and update trading platforms. The message will redirect you to a page with a user profile form, on which you can enter your email address, complete your customer agreement, and then log in.

The confidentiality of FBS’s clients is protected. Secure transactional information is typically protected using transport layer security (TLS). In addition, MetaTrader platforms ensure increased security by supporting dual-factor authentication.

Deposit and withdrawals

Depending on the account type and trading region, FBS requires a different minimum deposit. For example, initial deposits are required of €10 on the Euro firm’s Cent account and €100 on its Standard account. The global branch allows minimum deposits of $1, $5, $100, $500, and $1000 for accounts categorised as Cent, Micro, Standard, Zero Spread, and ECN.

There are wire transfers (EU only), Visa, and electronic payments such as Skrill and Neteller among the deposit and withdrawal methods. Deposits are instant except for wire transfers.

You must pay a commission when you withdraw money. For example, FBS charges a $1 transaction fee when withdrawing to a Visa card, with processing taking 5-7 days. When withdrawing through Neteller, there is a 2% commission. The minimum withdrawal is $1, and the maximum withdrawal is $30. You will have to pay a fee of 1% plus $0.32 when withdrawing using Skrill. Electronic wallet withdrawals have a processing time of 48 hours.

FBS Minimum deposit

An FBS Cent account requires a minimum deposit of $1. In addition, the minimum deposit varies based on the location of the client and the type of account

FBS accounts such as the zero spread account and the ECN account, specifically designed for experienced traders, will not function properly with a small deposit. The cent account is best for beginners with a small deposit. You must deposit at least $1 to open it.

  • Beginners can also benefit from a micro account which requires a $5 minimum deposit.
  • Standard accounts require a deposit of $100 to open and are average trading accounts.
  • To trade news, it is best to open a zero spread account with a minimum $500 deposit.
  • ECN accounts are generally good accounts and require a $1,000 minimum deposit.

How to deposit the minimum amount in your account?

With FBS, traders can deposit funds into their live trading accounts using over 100 different payment methods. Your location may, however, affect the types of payment methods you can use. For example, UnionPay is not available to European traders, but Chinese traders may use this payment method. Payments at FBS fall into these organised categories:

  • E-wallets, including Neteller and Skrill.
  • Wire transfer.
  • Bank cards, including Visa and MasterCard.

These methods may only apply to FBS International due to strict money transfer policies imposed by the European regulator.

Furthermore, there are several convenient and well-known ways to pay at FBS, including:

  • Credit cards
  • Sticpay
  • Skrill
  • Bank transfer
  • Perfect money
  • PayPal

Kenyan residents use PayPal to deposit their funds into this broker’s account.

FBS Fees

Additionally, if you are starting out with FBS, there are a few other fees to consider.

Over-night fees

A broker will typically charge clients an overnight fee if they want their position open overnight. Due to the fact it is a CFD broker, FBS charges these fees daily on market closing.

The information on it can be found on your trading platform since it’s a changing fee. In the case of Islamic traders, swap-free accounts are available, so this fee is not applied.

Fees for inactivity

FBS also charges a fee for inactivity. It applies after 180 days of inactivity. There is a $10 fee for inactive accounts each year. You may have your account closed by the broker if you do not have enough money on deposit to cover the fee. Additionally, please note that you will not be charged this fee for a demo account.

Deposit fees

There are typically no fees associated with deposits. Nevertheless, you may need to pay a fee for some of the options. For example, a 1.5% fee is imposed by Globe Pay, a 2.5% fee by Stic Pay, and a commission of $0.30 is imposed by Perfect Money.

If you deposit a non-base currency, you may pay a conversion fee, and you should verify your bank’s wire transfer policy.

FBS Spreads

You can trade with FBS using floating, fixed, or no-spread spreads. Spreads that fluctuate according to market conditions and supply-demand issues are referred to as floating spreads. Trade without the spread by using a 0 pip spread or no-spread. Commissions will be charged instead. The average spread on majors is as follows.

Average Standard Account Spreads on Majors

  • EUR/USD: 1.1
  • AUD/USD: 0.8
  • GBP/USD:0.9
  • USD/JPY: 1.0


Leverage maximums vary depending on account type and location. Standard and cent account types are available to customers in Europe with leverage up to 1:30. In other categories, it offers a 1:1000 cent account, a 1:1500 ECN account, and a 1:3000 account for clients other than EU. If a position is held for less than 40%, FBS can close the position.

Trading platform

It offers traders a wide array of trading platforms that cater to novice and experienced traders, enabling them to trade across a wide range of asset classes. MT4 and MT5 are two of their platforms.

As a customer, you may also trade on MetaTrader 4 or MetaTrader 5 Web Trader. It does not require any downloads, and it offers one-click trading on several asset classes. In addition, the broker offers the MT4 and MT5 software and trader for both Android and IOS platform users for mobile trading.

Links to download the apps are available on the broker’s website, in the client’s portal section, or through the Google Playstore or Apple AppStore.


CopyTrade is an app offered by this broker. It provides access to other traders’ trades. In exchange for a fixed 5% monetary bonus, it also assists fund managers in sharing their trades with investors. The account is accessible through your client portal.


It is common for 40% of new traders to quit within a month of starting on different trading platforms. Some may attribute their losses to different reasons, such as not liking trade, while others may have invested heavily. Furthermore, traders come to a defining point when they begin trading their real money on a trading platform.

To counter this issue, the broker recently implemented a trade 100 bonus. If you invest in your skills and advance your education, you will become more financially free before we go into details. Let us sum up the financial market this way:

  • Traders usually survive for just 7% of five years.
  • Some of them have a track record of successful trading in the past.
  • The people who make it beyond their fifth year are typically the most exponentially wealthy.

It offers a $100 trade bonus on its official website. You need to click on the button to get your free $100. Here are some items you should consider before you begin.

  • The only accounts allowed are MetaTrader 5 accounts.
  • To receive the bonus, you must trade major currency pairs. Robotic trading is not allowed for bonus trading. It is all about learning the process.
  • As soon as you receive the bonus, you should continue your trading performance for at least one month.
  • Bonus account leverage is 1:100.

In the case that none of them causes you any problem, you may request a bonus. You can request a bonus in the following ways:

Opening account for trade 100 bonus

You have $100 in your pocket, just by clicking a button. It doesn’t end there, though.

A minimum of 30 days of trading is required after getting the bonus.

The most active day of trading is when the order is opened or closed (just in case you forgot, the most active day is when the trade is opened. In your personal area, you can monitor the progress of your trading activity.

To qualify, you must meet the requirements. Bonuses must be credited if all of these conditions are met.

  • Pip differential should be positive, as total profits generated from good orders should exceed losses in the losing trades.
  • A client is advised to trade five lots within a month.
  • Withdrawing your profit requires meeting the bonus conditions.

Customer support

It offers professional customer service for its clients 24 hours a day, 5 days a week, via phone, live chat, Facebook Messenger, Telegram, and Viber. In addition to the FAQ section, the website has a section that addresses questions about registration and verification, modifying and restoring personal information, and financial operations, trading conditions, and the trading platform, among other things.

Education and research

Beginner traders can take advantage of a wide range of educational opportunities at FBS. This section contains links to forex guidebooks, books, trading tips, webinars, video lessons, seminars, and a glossary. In the forex guidebook, you’ll find both technical and fundamental analysis covered in great detail.

The course is divided into four sections, each designed for a different level of expertise: beginner, elementary, intermediate, and experience. Providing access to this feature is probably the most valuable offer to new traders, and it is an excellent way to get started learning how to trade.

This application is easy to use and is bundled with plenty of examples, so it is easy to learn. In addition to offering several research resources, it provides an Economic Calendar, Forex Calculator, Daily Market Analysis, and Video Lessons. There is a separate category for the stock in the forex news section, which contains articles that provide the most up-to-date information across all asset classes, including commodities, currencies, and stocks. This section contains trade signals and for currency and commodity markets in-depth technical and fundamental analysis.

FBS for beginners

It is one of the best brokers for new traders because of its great Cent Account conditions and the general approach it takes to new traders. This site provides comprehensive and well-structured education, as well as frequent and clear market analysis. A welcome improvement is that the customer service department is open 24/7.

Analytical analysis

Visitors to this site are again able to access market analysis for free, with three sections for them to choose from:

  • Forex news – the forex news feed features daily news that affects Forex traders in fundamental ways—written concisely and with clarity.
  • Daily Market analysis – This section features short analytical articles on the day’s main events, useful for new traders.
  • Forex TV – You can watch various videos here on everything from suggested trading plans to webinar recordings dating back over a decade. Traders new to the market are recommended to watch the trading plans in particular.

IB Affiliate program

The company provides affiliate programs to reach a broader audience. Affiliates contribute a percentage of their revenues to this company.

An affiliate can earn up to 15 USD for each lot they refer to with this service.


Thinking of Trading with FBS?


Does FBS have a license?

Its platform has been around since 2009 and has been highly regulated and safe. CySEC (331/17) regulates them within the EU, while IFSC Belize (60/230/TS/19) regulates them.

Is hedging allowed with FBS?

It is permitted to hedge with this broker and trade using scalping and other techniques.

Is FBS regulated in Kenya?

The Kenyan CMA may restrict FBS from operating in the country, but it can operate there without being regulated, as IFSC offshore regulations apply to Kenyan traders.

What is the process for withdrawing money?

The website allows you to withdraw money from your account area. After choosing your withdrawal method, follow the instructions on the screen for making a withdrawal.

Where is FBS located?

It operates a total of two offices. Belize and Limassol (Cyprus) house these offices.

What are the bonuses available at FBS?

A variety of bonuses are available at FBS, all working in slightly different ways. If you want to check this out in more detail, you should first look at our bonus section; before applying for the bonus, you should also read the terms and conditions of each bonus in more depth on the broker’s website.

How can I claim a bonus?

A bonus is generally only available for those who make a deposit or who become new clients. The eligibility of the bonus you are trying to claim will also depend on the bonus you are trying to claim.

How can I withdraw my bonus?

It is possible to withdraw the bonus, but only once you meet the specified requirements in the terms and conditions set out on the brokerage website.

How can I close my account?

It is possible to close an account whenever you want. The customer support at the brokerage can assist you with this procedure. In addition, live chat, email, and telephone are all available through the website.

Bottom line

Regulatory authorities in the EU regulate FBS in Cyprus, allowing Kenyan traders to open an account. The funds in your account are safe, and it complies with all regulatory requirements so that you can trade without any worries. Whether you are a beginner or an experienced trader, FBS offers a simple and straightforward platform. MT4 and MT5 trading platforms are available on Windows, Mac, Web, Android, and iOS and have fixed or floating spreads on commission-free and commission-based trading accounts.

Regardless of the experience level and investment size, FBS offers trading opportunities to all traders. It is all possible thanks to options such as various account types, platforms, and advanced tools, along with easy customer service.


up to 100%

Kenyans can trade forex and CFDs via FBS, an online broker. You can use this guide if you are planning to open an account with this broker.

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