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Overall Score: 3.5 / 5

Total Votes: 203
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FBS Discussion

Yunni (wanrupeng)
Aug 12 2014 at 15:00
7 posts
Update: Despite that FBS representatives have been constantly lying and trying to cheat customers, I managed to make them officially admit that they breached the T&C. However instead of being honest and taking responsbilities for their mistake, FBS just decided to empty my account completely, yes EMPTY!! Now you know what you shall face to by signing up with a unregulated scam broker like FBS - literally getting EVERY PENCE of yours ROBBED!

Chat start time Aug 12, 2014 2:02:03 AM EST
Chat end time Aug 12, 2014 2:58:24 AM EST
Duration (actual chatting time) 00:56:21
Operator Alena

Chat Transcript
info: Please wait for a site operator to respond.
info: You are now chatting with 'Alena'
info: Your Issue ID for this chat is LTK1221601646890X
Alena: Hello. How can I help you?
Yunni Long: Hi it's Yunni 360309
Yunni Long: so it has been another 24 hours, not only you haven't resolved the original issue of unexecuted sell stop orders, you have started to manupulate my trading by 1)making up fake order 18741040 2)
Yunni Long: 2) closing 18725841 twice and causing me loss more than $6000 from these two orders
Yunni Long: while I myself didn't do any execution request
Yunni Long: so Can I get a reasonable explanation or your company decided to just be pure scamming now?
Alena: The thing is that effective from 8 August 2014 you have been notified that the conditions of 60% bonus promotion were changed. The main change is that the maximum available leverage for trading on 60% bonus funds is 1:200
Alena: Your leverage was changed yesterday and, consequently, one of your orders was cancelled by dealer due to margin insufficiency and the second one was closed by StopOut
Yunni Long: hahaha
Yunni Long: do you want me to quote what Mary said yesterday?
Yunni Long: Yunni Long: and when was the new term changed?? Mary: It was changed on Aug. 11 (today) at 9:00 MetaTrader time
Yunni Long: chat ticket LTK1221601644033X
Yunni Long: you really have no shame by telling lies do you?
Yunni Long: the new bonus T$C was published on [Mary: It was changed on Aug. 11 (today) at 9:00 MetaTrader time], and my sell stop order price was hit by the first hour of MetaTrader time on Aug. 11 (today), while all my other positions were opened before Aug. 11 - so how could you have any excuse to not execute my sell stop order!!
Alena: Please, kindly note that we are referring to the following news release (Friday, August 8, 2014 - 12:30)
Alena: It contains the link to the full conditions of the promotion available directly in your Personal area
Alena: Kindly re-read the conditions to find the necessary condition out
Yunni Long: hahahaha, so ignore that I have proof of my real leverage of 8th Aug in screen shot and the chat history Mary said
Yunni Long: let's take what you said that it is effective from Aug. 11
Yunni Long: is that what you are telling me now?
Alena: No, madam, what I am telling you is that your leverage was not changed on 8 August due to the server mistake
Alena: And it was done yesterday to correct this mistake
Yunni Long: Then please explain how could order 18725841 and 18726541 be executed on 8th Aug under the leverage 1:200?
Yunni Long: so you just admitted it is your server's mistake!
Yunni Long: Bingo!
Yunni Long: so correct the mistake and nurish my order 18725841 and 18726541
Yunni Long: it is YOUR SERVER MISTAKE - you just literally admitted it!!
info: Your chat transcript will be sent to wanrupeng@yahoo.co.uk at the end of your chat.
Alena: It is our server mistake not to have changed your leverage on 8 August, which was done on 10 August to correct it
Alena: It caused your margin insufficiency
Yunni Long: so it is your server's mistake, not mine right?
Alena: We have warned you about it, but it seems, you were too absorbed in other issued
Yunni Long: Alena: Please, kindly note that we are referring to the following news release (Friday, August 8, 2014 - 12:30) Alena: It contains the link to the full conditions of the promotion available directly in your Personal area Alena: Kindly re-read the conditions to find the necessary condition out
Alena: So we do have the right to correct the mistake caused by technical issue, right?
Yunni Long: yes of course, but I only follow the terms and conditions
Yunni Long: you just said ' Please, kindly note that we are referring to the following news release (Friday, August 8, 2014 - 12:30)'
Yunni Long: so according to the terms & conditions which came to effect on 8th Aug, my leverage should have been changed to 1:200 from 8th Aug
Alena: Yes, right
Yunni Long: and thus my order 18725841 and 18726541 should not have been executed under the new terms & conditions on 8th Aug
Yunni Long: do we agree on that?
Alena: It should have been executed that way, but due to technical issue we could not have changed your leverage in due time, so it was changed yesterday once we spotted the mistake
Yunni Long: however it is YOUR SERVER MISTAKE caused the order 18725841 and 18726541 executed wrongly, so please take responsbility for your mistake!
Yunni Long: again, not my problem, yours - I only stick to the terms & conditions agreed by both of us
Yunni Long: you should stick to the terms & conditions too no matter what mistake you or your serve had, right?
Alena: Yes, madam, we we do stick to our own terms and conditions by changing your leverage accordingly like we did to other bonus accounts of all our clients
Yunni Long: so about the order 18725841 and 18726541, what are you planning to do to correct this mistake?
Alena: What are you expecting us to do with these orders, please?
Yunni Long: very simple: it's wrongly executed as they should never have been opened in the first place, so nurish them and put the wrong loss caused back to me
Yunni Long: actually your 'expert' modified my order history, so the order 18745732 left as half of 18726541 should be nurished and reimbursed to me as well
Yunni Long: https://prntscr.com/4bsx1z
Alena: Ok, let us consider the case, we have received your e-mailed claim and will provide you with a proper response today
Alena: Kindly take into consideration that such cases might take some time to be regarded
Alena: The only thing I ask you for - to wait until we provide you with the answer
Alena: Please, be informed that we are going to discuss it with the company's chief board and therefore it requires time to come to an agreement in all sides
Yunni Long: Just some kind advice: telling more lies to cover up one lie is not the best way to treat customers, especially those who have brains. If your company had chosen to be honest and responsbible simply in the first place, all the drama and the following troubles ahead wouldn't have developed at all
Yunni Long: and finally, please do me a favor okay?
Yunni Long: As I would do me yours as you asked me to wait
Yunni Long: just forward this chat to the board for consideration, and remind them to read the following:
Yunni Long: Mary: As for informing the customer, please, kindly check Customer Agreement: p.7.3. Correspondence (documentation, announcements, notifications, confirmations, reports, etc.) is considered to be accepted by the Client: Mary: a) An hour after sending it to their email; Mary: b) Immediately after sending it by internal email of the trading platform; Mary: c) Immediately after finishing a conversation by phone; Mary: d) After 7 days since sending it via post; Mary: e) An hour after placing it at the Company website. Mary: e) An hour after placing it at the Company website.
Yunni Long: Can you do me that favor?
Alena: What are you hinting at?
Yunni Long: just forward this chat to the board for consideration, and remind them to read the the T&C Mary gave me yesterday
Yunni Long: it's not hinting, it's clear request
Alena: Ok, I will, madam
Yunni Long: thank you Alena, and hope I won't have to bother you and myself with such unnecessary conversation further
Alena: Me too, madam. We will let you know once a decision is taken
Alena: Thank you for your patience
Yunni Long: Bye and have a nice day!
Alena: Thank you for visiting. Please contact us at anytime.
info: Your chat transcript will be sent to wanrupeng@yahoo.co.uk at the end of your chat.



Screen shot:
https://prntscr.com/4c2usq (emptied account)

Burn the scammer!
Yunni (wanrupeng)
Aug 20 2014 at 06:47
7 posts
Newest update: after several emails and complaints, FBS finally decided to admit the mistake and return the money to me - good? Not yet!

1. I tried to communicate with FBS and they agreed to give my money back on 12/08/2014, and I agreed to withdraw my complaint from CRFIN once they return my money;

2. On 14/08/2014, Alena from FBS sent me a confirmation of funds withdrawal;

3. On 18/08/2014, it turned out the confirmation sent by Alena was FAKE and FBS never really transfered my money $5850.04 back to my bank account - as Olga Trifonova from FBS sent me another email today telling me that they've decided to freeze my withdrawal transaction because I haven't withdrawn my complaint from CRFIN and other online forums yet;

Should I have got money back by now - yes according to their T&C; would I get my money back - hope so but yet to find out!

Before it totally gets resolved, stay alerted!



Letter of 'withdrawals confirmed' on 12/08/14:


FBS Support
To Me
Aug 14 at 2:40 PM

Dear Yunni Long,

We have generated a support ticket to help us track your inquiry. Your ticket code is LTK1221601654784X. Please use this code in any further communication.

Please, be informed that both your withdrawal requests have been successfully confirmed. Kindly find attached a confirmation of your wire transfer processing. We are waiting for your counteraction as agreed.

Should you require further assistance or information, please reply to this message or chat live with us during our business hours.

Sincerely,

Alena Ignatyeva
 

FBS Support
Email: support@fbs.com
Web: https://www.fbs.com
 


Letter of 'withdraw transaction freeze' on 18/08/14:

FBS Support
To Me
Aug 18 at 4:30 PM

Dear Yunni Long,

Unfortunately, we still have not received any reply from you to our last message (Ticket code LTK1221601654784X).

As you may recall, we had agreed that as soon as your orders are corrected and your requests are processed you would withdraw your claim to CRFIN and delete your comments on the forums, considering that they had been filled before the official reply from the company was provided. However, there has been no sign of your going through with our agreement up to the present moment.

Taking into consideration that no actions were taken on your side, the decision has been made to freeze your withdrawal transaction via bank wire.

Given the circumstances, in order to avoid any future misunderstanding, we are forced to request the written confirmation signed by you. The confirmation should acknowledge the fact that you are satisfied with the measures undertaken by the company in response to your claim and no longer have complaints regarding this issue. You may attach a scanned copy to your reply.

Please let us know if you are still willing to cooperate.

Sincerely,

Olga Trifonova



FBS Support
Email: support@fbs.com
Web: https://www.fbs.com


Burn the scammer!
AnnaFBS
Aug 22 2014 at 07:56
9 posts
Dear Yunni!
If the issue is now being public, let us explain our position, so that it would not be just one-side consideration.

We processed your claim and all the necessary corrections on the account were made, i.e. the required orders were annulled with their total loss restored on your balance, profitable orders were placed back with their total profit return. We sent you an official reply with the request to confirm that your claim is resolved. We also confirmed your withdrawal request as you requested.

At the same time you sent a claim to our regulator CRFIN without receiving our official reply to your request and when the problem was resolved, we were waiting for your reply, but did not receive any.

We have satisfied all your complaints to the full extent. However, we have not received an actual confirmation of the dispute resolution from your side. Therefore, the fact that you have filed a complaint to CRFIN automatically means that you refused our suggestion. In that case, we are determined to stand our ground and provide all the arguments that we believe will be substantial enough for the Regulator to decide in favor of the Company. At the present moment the remaining balance is returned to the trading account 360309 and frozen until the dispute resolution. For that reason we had to contact our bank to request to return the funds. So the withdrawal confirmation we had sent you before was real, but as you didn't want to solve the issue peacefully, we had to cancel the withdrawal and freeze the funds until the claim to our Regulator will be resolved.

I should add that on August 18 we offered you to sign a mutual Settlement Aggrement as a consent of the intentions. But you did not accept the agreement. That is why the funds were frozen until we proceed with the dispute.

Yunni (wanrupeng)
Aug 22 2014 at 14:51
7 posts
And I have to warn everyone two most important points:

1. Though now the argument is about the funds withdrawal, the real issue you should be concerned is the original issue should have happened including:

    1) FBS suddently changes terms&conditions without notice to put traders under disadvantaged situation (check the several recent reviews from other customers of FBS, as published on FPA );
    2) FBS deliberately lie and distort about the execution of new T&C so they can choose which explanation can be produced to cause you loss - unless you take the effort to keep every bit evidence of your account and chat history, you won't have a chance to not to loss;
    3) FBS creats fake account execution history - means they manipulate your trading account - they FAKED order 18741040 on my account to prove 'I had not enough margin to open a hedging position to stop lossing money' (Note the price they faked on that order is 1.33050 of EURUSD, and EURUSD never hit that price THE WHOLE YEAR by then, check my previous screen shot link for evidence in this thread).

While FBS is trying to pull everyone's attention to the 'withdrawal dispute' should actually shouldn't exist at all, these facts are the ones people should focus and request explanation for from FBS.

Burn the scammer!
Yunni (wanrupeng)
Aug 22 2014 at 14:53
7 posts
AnnaFBS posted:
Dear Yunni!

We processed your claim and all the necessary corrections on the account were made, i.e. the required orders were annulled with their total loss restored on your balance, profitable orders were placed back with their total profit return. We sent you an official reply with the request to confirm that your claim is resolved. We also confirmed your withdrawal request as you requested.

At the same time you sent a claim to our regulator CRFIN without receiving our official reply to your request and when the problem was resolved, we were waiting for your reply, but did not receive any.


On 12/08/2014, you sent an email indicating you are willing to return my money; on the same day, I replied and specifically wrote:

Dear Sir/Madam,

I am glad to hear you have made the decision to reslove my complaint, and I confirm I shall accept the offer and suggestion, on the condition you cancel order 18725841, 18726541 and18745732, and immediately reimburse my account with:

18725841 loss: $2512
18726541 loss: $3472
18745732 loss: $2660

and make my account total balance = $2512 + $3472 + $2660 = $8644

As soon as the agreed balance arrive in my account, I shall take actions on my side to return the reputation to your company.

Many thanks.

Regards,

Yunni Long

So you have received my reply instead 'did not receive any' - this is LIE # 1.


AnnaFBS posted:
For that reason we had to contact our bank to request to return the funds. So the withdrawal confirmation we had sent you before was real, but as you didn't want to solve the issue peacefully, we had to cancel the withdrawal and freeze the funds until the claim to our Regulator will be resolved.


1. Can you please provide a copy of wire transfer confirmation from the BANK to prove you did complete the transfer on 14/08/2014 - the day Alena sent me the 'confirmation' which you claim to be 'real'?

2. Please explain how you are able to 'cancel' a bank wire transfer after 4 DAYS you completed it? I'm pretty sure everyone here, who has been dealing with financial industry for at least a decent while, will be trmendously interested in that. Or please tell me which bank you were using to send me the money
- I will contact them myslef to obtain an official bank letter to expose you BIG FAT LIE # 2!


AnnaFBS posted:
I should add that on August 18 we offered you to sign a mutual Settlement Aggrement as a consent of the intentions. But you did not accept the agreement. That is why the funds were frozen until we proceed with the dispute.


And 'me not accept the agreement' causes 'why the funds were frozen until we proceed with the dispute' is the LIE # 3, the real reason is: FBS, a bully, who sees its customers as enemies and exploitable resources, cannot tolerate the fact the supposed-to-be stupid/craven customers have the guts and ability to challenge their lies, and they cannot accept the fact they have to be FORCED to admit their scamming tricks.

I reported this to CRFIN because according to STANDARDS AND TERMS OF BUSINESS FOR CRFIN MEMBERS:

    6.1. CRFIN Members and their employees are prohibited from:
    6.1.1. acting with intention to inflict harm upon another person, and to abusing their rights in any form;
    6.1.2. deceiving or misleading, or attempting to deceive or mislead their current or potential customers.
    6.1.3. willfully providing a customer with a false report, or entering a false record on any real or non-existing forex transaction to company documents.
    6.1.4. disseminating false or misleading information on any instrument price, or a knowingly inaccurate report, that affects (or is intended to affect) the price of any financial instrument and/or trading decisions made by customers;
    6.1.5. willfully submitting false or misleading information to the CRFIN;
    6.1.6. embezzling any funds obtained from a customer as a margin deposit, or any profit from transactions.

    And FBS:
    1) FBS suddently changes terms&conditions without notice to put traders under disadvantaged situation (check the several recent reviews from other customers of FBS, as published on FPA ) - which breached clause 6.1.1;
    2) FBS deliberately lie and distort about the execution of new T&C so they can choose which explanation can be produced to cause you loss - unless you take the effort to keep every bit evidence of your account and chat history, you won't have a chance to not to loss - which breached clause 6.1.2;
    3) FBS creats fake account execution history - means they manipulate your trading account - they FAKED order 18741040 on my account to prove 'I had not enough margin to open a hedging position to stop lossing money' (Note the price they faked on that order is 1.33050 of EURUSD, and EURUSD never hit that price THE WHOLE YEAR by then, check my previous screen shot link for evidence in this thread) - which breached clause 6.1.3.
    4) FBS illegally keeps my funds $5850.04 and refuses to return it to me - which breached clause 6.1.6.

Burn the scammer!
Yunni (wanrupeng)
Aug 26 2014 at 13:38
7 posts
Today, 26/08/2014, FBS and I have agreed to resolve the issue (claim ticket number LTK1221601642974X). And I can confirm that the dispute is now fully resolved and I do not have any complaints regarding this issue.

Meanwhile, FBS and I have signed the following Settement Agreement:

Settlement Agreement
This Settlement Agreement is between acting in his capacity as Directior of the FBS Company (hereinafter 'FBS Company') and Yunni Long (hereinafter 'Customer').
Whereas, FBS Company and Customer have reached an understanding on the incident with deals execution from August 8, 2014 (claim ticket number LTK1221601642974X).
Therefore, in consideration of the mutual covenants and agreements contained
herein, the parties agree as follows:
1. Customer agrees to remove all the negative reviews on the Company regarding the above incident which she had published on the Internet. In case it is impossible to remove the review the Customer is obliged to publish a refutation and confirmation that the dispute is now fully resolved and the Customer does not have any complaints regarding this issue.
2. FBS Company shall transfer the remaining balance in the amount of $5850.04 from the trading account 360309 to the Customer's personal bank account the next business day after the Customer fulfills her obligations in accordance with p.1 of the present Agreement and informs the Company via e-mail.
3. In case the Company does not comply with the commitment in accordance with p.2 of the present Agreement the Customer has the right to refer to the Agreement and re-publish negative reviews, as well as to apply a complaint to CRFIN.
4. The Customer has the right to receive a copy of the present Agreement.
5. The Company has the right not to process the withdrawal of the remaining balance on the Customer's trading account until the Customer provides the Company with the signed copy of the present Agreement and removes all the negative reviews on the Company.

Please note: 1. My claim to CRFIN has been officially withdrawn on 22/08/2014 as confimred by email of Mr Evgeny Masharov Vice-chairman of the CRFIN Governing Board;
                     2. I have published refutation and confirmation that the dispute is now fully resolved and I do not have any complaints regarding this issue, since the posts cannot be removed on the involved websites, and I have sent FBS screen shot of this as proof.

Thus, I, as the Customer, have fullfiled the part of obligation required by the Settlement Agreement, and according to the Settlement Agreement, the FBS Company is required to return the amount of $5850.04 to my bank account the next business day of today 26/08/2014, which is tomorrow 27/08/2014.

Burn the scammer!
syazam
Aug 27 2014 at 09:00
1 posts

I have been using FBS for 3 years and i'm fully satisfied with the service given. FBS always give me the best service in terms of deposit and withdrawal. If i'm facing any problem or issue with my deposit or withdrawal, my Master IB will help me as fast as he can in order to solve it besides the help of other FBS members

AnnaFBS
Aug 27 2014 at 09:00
9 posts
Dear Yunni!

As you know, we have satisfied your complaint and the required orders were corrected with their total loss restored on your balance.

To tell the truth, it is still not clear, why you decided to act before the Company provided you with an official reply.

However, it is not our intention to go on disputing on the matter.

Moreover, we have repeatedly offered you to settle this issue peacefully by signing a Settlement Agreement.*

Please be informed that our offer still stands. We are willing to finally resolve this incident.

AnnaFBS
Aug 27 2014 at 10:00
9 posts
Dear Yunni, please note that we haven't received any emails from you to support@fbs.com since August 21. Yesterday we sent you an official reply with the Settlement Agreement and still there is no reply from you. You need to sign an Agreement and send it and your official confirmation to support@fbs.com.

AnnaFBS
Aug 28 2014 at 14:14
9 posts
I would like to inform all the FPA members that the client's withdrawal was confirmed yesterday and today we sent the bank confirmation to the client.

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