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FBS Review Scores


Overall Score: 3.5 / 5

Total Votes: 202
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FBS Discussion

RoboExpert
Aug 24 2015 at 18:34
55 posts
Overall Score: 2.4 / 5

emadpsych
Oct 23 2015 at 16:45
10 posts
To every person who want thing about this broker! STAY AWAY! GO FAR FAR AWAY! beleive me, its the worse broker ever. let me tell about my story :

about 9 days ago, my 3 trades on GBPUSD closed above my sl, each trades closed about 15 pips above my SL! I contact to LIVE chat they ask me to send an email, and I did, and today after 9 days no answer! and guess what, today my other trade in USDJPY closed above my sl AGAIN!!! this time 9 pips above my sl. MY SL WAS 121.12 and my trade closed at 121.204! the funny part s USDJPY NEVER MET THAT PRICE, THE PAIR HIGH WAS 121.13 when my trade closed!!!! HOW THE HELL MY TRADE CAN CLOSE 121.20 when the pair high is 121.13!!

as usual they ask me to send email AGAIN! and when I said I already sent email days ago and you never answer to that email, the live chat support said the same answer : I will forward the information sir and we will reply to you, if you have any other complain you can send it to support@fbs.com.

I provide all proof they need in emails, but no luck! SO, ARE YOU CARE ABOUT YOUR MONEY? THEN STAY AWAY FROM FBS.

emadpsych
Oct 25 2015 at 07:11
10 posts
After 10 days and after I told them I will write in Forex forums they finally answer! and guess what they said : it just happen! and they said I am trading on news!!!! the date of my positions are clear they I toke them hours before any high Impact news! poor fbs, you can do better! this is not an excuse!

Imagine you set SL to make sure your position will closed at that specific point, and then it closed far away from your SL and when you ask why? your broker say : it just happen! you should close your position before any news because if you dont we will close it far away from your sl for you anyway and you can do nothing!!!
 
I don't blame anyone, It was my mistake to trust this SCAM broker! but they will pay because I am a web developer and I am working on a website to alert people stay away from this broker, and guess what, I want work hard on CEO, I know some algorithms, and soon enough every search in google display my website first :) it take some time, few weeks but finally they will understand that they SCAM from wrong person.

moryfx
Dec 22 2015 at 11:41
2 posts
nice broker.
I get twice bonus from them,5$ and 123$.support is good and fast.good place to trade
 

hadihasan
Jun 10 2016 at 06:48
1 posts
I just knew FBS from a friend and by look of it I think it was okay, until something really unacceptable happend.

I trade for NZDUSD and NZDJPY and place the order before the big news and when it happend suddendly my order price change by itselft and the price gap happended, I got margin call because my SL cancelled by itself.

I can't accept this since ONLY FBS Trade have price gap on NZDUSD and NZDJPY on that day but not other broker. I used FXpro and XM and place the same pending order I put on FBS. I hit my TP and my order was opened where I place it, and NO PRICE GAP.

WHY only FBS have price GAP on NZDUSD and NZDJPY? to be exact on 9/6/2016. 0000hours


MountainKing
Aug 11 2016 at 10:16
25 posts
I came to them from an IB who offers free VPS for my robots -- and this is the only reason to stay.

Positive:
Cent account

Negative:
Fee for money in/out. I didnt pay much attention and deposited using Skrill: 7.5% fee(!).
Not regulated
Interest on swap (long AND short); no way to get swap free account.
Strange things in order execution: my Grid traders always win (semi automatic, I look at fundamentals, too).
  Green numbers every day. Same constellation -- different brokers. This night 1 of them produced RED at FBS.
  I compared with the other (good) brokers: All the trades from the grid traders basket closed within 6s with nice profit.
  Same robot / same parameters on FBS: FAT RED numbers. Why that??
  The basket of trades was closed wihtin... not 6s -- on FBS the robot needed 32 MINUTES to close the trades... 😡

snoopy (Novar)
Aug 12 2016 at 06:57
63 posts
Full market maker broker, using virtual dealer plugin almost are possible.
2 to 6 second to close a trade !!!

imagine a sery of 10 trade can take 1 minute to close and of course in loss every time

and for withdrawal never amount you ask so you need to make many withdrawal and pay many fees every time to receive uor money

GO AWAY !!! You will never win at the end here 😇

FBS_Official
Sep 18 2016 at 06:49
7 posts
hadihasan posted:
I just knew FBS from a friend and by look of it I think it was okay, until something really unacceptable happend.

I trade for NZDUSD and NZDJPY and place the order before the big news and when it happend suddendly my order price change by itselft and the price gap happended, I got margin call because my SL cancelled by itself.

I can't accept this since ONLY FBS Trade have price gap on NZDUSD and NZDJPY on that day but not other broker. I used FXpro and XM and place the same pending order I put on FBS. I hit my TP and my order was opened where I place it, and NO PRICE GAP.

WHY only FBS have price GAP on NZDUSD and NZDJPY? to be exact on 9/6/2016. 0000hours



Dear Hadihasan!

We have considered your claim about bespoken pending orders (all NZDUSD and NZDJPY, Buy Stop), consulted with the server data, checked its log-files and come to the following conclusion.
Please, kindly note that 00:00 MetaTrader time on 09.06.2016 was the release time of several highly important news pieces in New Zealand, that had an extremely remarkable impact on the financial market, particularly on all currency pairs with New Zealand Dollar. You can check the information about news releases with the Calendar published on myFXbook: https://www.myfxbook.com/forex-economic-calendar (the aforementioned news pieces are as follows: https://prntscr.com/cim1nv )
The mentioned news pieces have caused very high volatility in the market at 00:00 and further, which resulted in significant spread widening, abrupt price movements, and huge price gaps. You can prove this fact with the chart in MetaTrader 4 for NZDUSD and NZDJPY: https://prntscr.com/cilxj3 , https://prntscr.com/cilxoh
Considering your NZDUSD orders, which had Take Profit level set by you, we would like to remind you, that according to the Customer Agreement:
4.5.2. In the cases of price gaps order execution is determined by the following rules: a) If 'Take Profit' level of a pending order is in the price gap during order opening, once the order is opened Take Profit settings will be annulled. In such a case a note is added to the comments: (tp cancelled/gap).

The following comments in MT4 prove this point: https://prntscr.com/cim53t

Unfortunately, the price set by you for these pending orders has got into price gap, therefore they have been opened at the first quote after the price gap, which is 0.70997.

Considering your NZDJPY orders, since these orders has got into price gap too, they also have been opened at the first quote after the price gap, which is 76.015.
We would like to mention, that when current loss of all open orders on a trading account exceeds the allowed limit, a Stop Out event occurs, i.e. your margin level becomes less than 20%. In this case, the server will close your orders automatically one by one with the comment “so:…./…/…”.
Example: so: -36.0%/-5.1/14.2 – the order was closed by stop out (where -36.0% is the margin level at the time of order closure, -5.1 – remaining funds at the time of order closure, 14.2 – margin).
According to the Customer Agreement:
3.6.2. The Company is entitled to mandatory closing of a Client’s open positions without prior notification of the latter one, if Margin level is lower than 20% of the necessary margin for maintaining open positions.
This is exactly how your orders were executed.
This sharp price movement in an unfavourable direction also caused your account balance to reach Stop Out level, that is why, the system closed all your orders automatically one-by-one in order to prevent your account balance from going negative. The following comments in MT4 prove this point:
https://prntscr.com/cim5lg
It is worth mentioning that different brokers have different liquidity providers which send slightly different quotes. And price gap situation with one broker doesn’t always mean the same situation with other broker.
Also, we would like to remind you that news trading is one of the most risky strategies on Forex as it bears high risks of losses.
We hope that we have managed to resolve this issue and thank you for your understanding!

FBS_Official
Sep 18 2016 at 06:53
7 posts
MountainKing posted:
I came to them from an IB who offers free VPS for my robots -- and this is the only reason to stay.

Positive:
Cent account

Negative:
Fee for money in/out. I didnt pay much attention and deposited using Skrill: 7.5% fee(!).
Not regulated
Interest on swap (long AND short); no way to get swap free account.
Strange things in order execution: my Grid traders always win (semi automatic, I look at fundamentals, too).
  Green numbers every day. Same constellation -- different brokers. This night 1 of them produced RED at FBS.
  I compared with the other (good) brokers: All the trades from the grid traders basket closed within 6s with nice profit.
  Same robot / same parameters on FBS: FAT RED numbers. Why that??
  The basket of trades was closed wihtin... not 6s -- on FBS the robot needed 32 MINUTES to close the trades... 😡




Dear MountainKing!
First of all, we are glad to know that you liked the trading conditions of our Cent account type.

Though we are sorry, that some kind of misunderstanding has taken place.

We would like to draw your attention to the fact, that all commissions for deposits and withdrawals a client may find both on the site page ( https://fbs.com/trading/funds ) and in your Personal Area (you can see the fee right before making a deposit or withdrawal request).

Considering your remark about FBS regulation, please, kindly let us remind you that FBS is authorized and regulated by the Belize International Financial Services Commission (IFSC). IFSC serves as regulator of financial services at the international level and ensures that only the company's high degree of reliability and the level of social responsibility are able to carry out their activities in the territory of Belize and beyond.
Also, in December 20, 2013 FBS has entered a self-regulatory organization non-commercial partnership 'Center of regulation of OTC financial instruments and technologies' (CRFIN).

The next thing that we would like to mention is that we do have swap-free option. This option is available for Muslims only. If you are a citizen of a country, where one of the dominating religions is Islam, you can switch swap-free option right in your Personal Area.

As for your long execution situation, we would highly appreciate if you contact our customer support and specify the time, date, account number and order numbers so we could check it thoroughly and take measures.

Also, we would like to remind you that different brokers have different liquidity providers and trading strategy/EA settings that work for one broker, not always work for the other broker, unfortunately.
Thank you for understanding!

FBS_Official
Sep 18 2016 at 06:53
7 posts
Novar posted:
Full market maker broker, using virtual dealer plugin almost are possible.
2 to 6 second to close a trade !!!

imagine a sery of 10 trade can take 1 minute to close and of course in loss every time

and for withdrawal never amount you ask so you need to make many withdrawal and pay many fees every time to receive uor money

GO AWAY !!! You will never win at the end here 😇


Dear Snoopy!
First of all, we would love to ask you for relevant proof that FBS company is Market Maker.
Please, kindly take into consideration, that FBS doesn’t use such production of MetaQuotes, since we are regulated STP & ECN broker. We can recommend you to contact MetaQuotes to make sure that FBS never purchased virtual dealer plugin.

Considering execution time, please, take notice that the time of the order processing depends on the connection between the client terminal and the Company’s server, as well as on the current market conditions. During regular market hours the order processing time usually is 1 to 5 seconds. In irregular market conditions, the processing time can last longer.
In case of slow orders execution, please, try to rescan the servers. To do this, left-click on the green-and-red icon in the bottom right-hand corner of your trading platform and choose “Rescan servers”.

Thank you

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