FBS Review Scores
FBS
Oct 26 2016 at 06:31
I've been trading from one broker to another broker for 2 years, until i find fbs that can provided what i need, very fast WD, low spread,credit 100% of deposit,local support for my country....and the interesting point for me is my account is no commission and no swap so i can trade fairly without subtraction and addition. So i am planning to stay in FBS.
langlanghendaryanto@
I have register an IB account at FBS.
Then i invite friends to trade.
After that my commission was removed and same goes to my upline.
I have livechat with FBS. they said i violate rules.
The rules - hedging between are too close. all the buy and sell must more than 6 pip/60 points.
For scalper trader - not allow to take tp too little.
For hedging trader - can't buy and sell in 6 pips/60 points. FBS never think of hedging strategy.
For IB . i have livechat with them.
example:
If you have 100 clients, you have to monitor and take care all the trading.
if any one of the client are violate rules(hedging on 6pip/60points).
all of your commission will be cancelled.
Problem is , some clients are from website affiliate. which don't even know who is them. we just make a deal, when i got commission then pay them certain percentage. ( this is very common in forex deal)
** 1 client violate , other client commission will cancel**
seems this is the TRAP by giving high commission . all IB hardwork will waste in the end.
FBS is the winner in the end.
Then i invite friends to trade.
After that my commission was removed and same goes to my upline.
I have livechat with FBS. they said i violate rules.
The rules - hedging between are too close. all the buy and sell must more than 6 pip/60 points.
For scalper trader - not allow to take tp too little.
For hedging trader - can't buy and sell in 6 pips/60 points. FBS never think of hedging strategy.
For IB . i have livechat with them.
example:
If you have 100 clients, you have to monitor and take care all the trading.
if any one of the client are violate rules(hedging on 6pip/60points).
all of your commission will be cancelled.
Problem is , some clients are from website affiliate. which don't even know who is them. we just make a deal, when i got commission then pay them certain percentage. ( this is very common in forex deal)
** 1 client violate , other client commission will cancel**
seems this is the TRAP by giving high commission . all IB hardwork will waste in the end.
FBS is the winner in the end.
Nov 07 2016 at 11:02
Dear Mahmah!
We are glad to know that first of all you have contacted our customer support in order to resolve the situation. Though, we are sorry, that our customer support’s explanation didn’t satisfy you and we consider that this issue should be clarified here, so everyone could see our point.
As you have rightly pointed out - our customer support has informed you, that your partner’s commission has been cancelled due to the violation of the rules. In the first place we would like to remind you that each client before becoming an FBS Partner confirms that he/she has read Partner Agreement and has no objection to it. According to the Partner Agreement:
7.4. In case partner commission was received for Buy and Sell orders opened for the same instrument and held in the market simultaneously, while the difference between the opening prices of the orders was less than 5 points, the Company has ground to consider the partner's actions fraudulent and reserves the right to cancel the paid commission (the value is valid for 4-digit quotes. For 5-digit quotes a difference between opening and closing price should exceed 59 points).
https://fbs.com/docs/partners_agreement_en.pdf
As we see in our system, you have 4 clients. We have checked the trading history of all of your clients and have found out that all of them were using hedged positions, while the difference between the opening prices of these orders was less than 5 (59) points. Unfortunately, this may be considered as the proof that the Partner commission in this case has been received with the help of fraudulent actions.
Thus, your statement that if one client violates the rules, all Partner commission is cancelled is not true, since in your case all of your clients were using this scheme. We would like you to note that only that commission is cancelled, which has been got for the hedged orders with the difference between the opening prices less than 5 (59) points.
As you may see, the condition about the difference in 5 (59) points doesn’t mean that the hedging is not allowed.
We hope that we have managed to clarify all the issues and have high expectation that such situation will not take place in the future.
We are glad to know that first of all you have contacted our customer support in order to resolve the situation. Though, we are sorry, that our customer support’s explanation didn’t satisfy you and we consider that this issue should be clarified here, so everyone could see our point.
As you have rightly pointed out - our customer support has informed you, that your partner’s commission has been cancelled due to the violation of the rules. In the first place we would like to remind you that each client before becoming an FBS Partner confirms that he/she has read Partner Agreement and has no objection to it. According to the Partner Agreement:
7.4. In case partner commission was received for Buy and Sell orders opened for the same instrument and held in the market simultaneously, while the difference between the opening prices of the orders was less than 5 points, the Company has ground to consider the partner's actions fraudulent and reserves the right to cancel the paid commission (the value is valid for 4-digit quotes. For 5-digit quotes a difference between opening and closing price should exceed 59 points).
https://fbs.com/docs/partners_agreement_en.pdf
As we see in our system, you have 4 clients. We have checked the trading history of all of your clients and have found out that all of them were using hedged positions, while the difference between the opening prices of these orders was less than 5 (59) points. Unfortunately, this may be considered as the proof that the Partner commission in this case has been received with the help of fraudulent actions.
Thus, your statement that if one client violates the rules, all Partner commission is cancelled is not true, since in your case all of your clients were using this scheme. We would like you to note that only that commission is cancelled, which has been got for the hedged orders with the difference between the opening prices less than 5 (59) points.
As you may see, the condition about the difference in 5 (59) points doesn’t mean that the hedging is not allowed.
We hope that we have managed to clarify all the issues and have high expectation that such situation will not take place in the future.
This is the conversation of FBS and mine.
(08:57:01) mah: i got 100 clients
(08:57:05) mah: 1 of them
(08:57:09) mah: violate rules
(08:57:20) mah: then fbs cancel 100 clients commmsion
(08:57:38) mah: FBS win already . big winner
(08:58:16) mah: BUY - 1.10950 SELL - 1.10944 different 6 points. consider okay?
(08:59:47) Kristie: Yes, we are allowed to cancel all commission <-------- (1) allow to cancel all commission.
(08:59:59) Kristie: Aas for your example: it is 5 digit quote
(09:00:24) Kristie: The difference should be 59 points <------- (2) trader can't trade buy/sell in same time. hedging is not allow!
(09:01:33) mah: BUY - 1.10950 SELL - 1.10890 only valid?
(09:01:46) Kristie: Yes, for example
(09:02:07) mah: come on.. do you have see scapler or hedging before?
(09:02:30) mah: they are earning 0.00001-0.00005
(09:02:42) mah: i read online
(09:02:54) mah: the gap is so big
(09:03:03) mah: i am stunned
(09:03:36) Kristie: Sir, these rules are not applied for trading in general. But when it comes to receiving commission from trading (partner or cashback), then a client is not allowed to trade with less price gap
As from the converstation. As the agent has said it.
(08:57:01) mah: i got 100 clients
(08:57:05) mah: 1 of them
(08:57:09) mah: violate rules
(08:57:20) mah: then fbs cancel 100 clients commmsion
(08:57:38) mah: FBS win already . big winner
(08:58:16) mah: BUY - 1.10950 SELL - 1.10944 different 6 points. consider okay?
(08:59:47) Kristie: Yes, we are allowed to cancel all commission <-------- (1) allow to cancel all commission.
(08:59:59) Kristie: Aas for your example: it is 5 digit quote
(09:00:24) Kristie: The difference should be 59 points <------- (2) trader can't trade buy/sell in same time. hedging is not allow!
(09:01:33) mah: BUY - 1.10950 SELL - 1.10890 only valid?
(09:01:46) Kristie: Yes, for example
(09:02:07) mah: come on.. do you have see scapler or hedging before?
(09:02:30) mah: they are earning 0.00001-0.00005
(09:02:42) mah: i read online
(09:02:54) mah: the gap is so big
(09:03:03) mah: i am stunned
(09:03:36) Kristie: Sir, these rules are not applied for trading in general. But when it comes to receiving commission from trading (partner or cashback), then a client is not allowed to trade with less price gap
As from the converstation. As the agent has said it.
Nov 09 2016 at 11:01
Thank you Mahmah for sending the chat. As we have stated above, your commission was cancelled only for 4 of your clients, which traded in violation of partner commission clause 7.4
7.4. In case partner commission was received for Buy and Sell orders opened for the same instrument and held in the market simultaneously, while the difference between the opening prices of the orders was less than 5 points, the Company has ground to consider the partner's actions fraudulent and reserves the right to cancel the paid commission (the value is valid for 4-digit quotes. For 5-digit quotes a difference between opening and closing price should exceed 59 points).
https://fbs.com/docs/partners_agreement_en.pdf
We hope that this clarifies the situation, and hope to continue our cooperation. if you have any further questions or needed clarification - please let us know.
Thank you.
7.4. In case partner commission was received for Buy and Sell orders opened for the same instrument and held in the market simultaneously, while the difference between the opening prices of the orders was less than 5 points, the Company has ground to consider the partner's actions fraudulent and reserves the right to cancel the paid commission (the value is valid for 4-digit quotes. For 5-digit quotes a difference between opening and closing price should exceed 59 points).
https://fbs.com/docs/partners_agreement_en.pdf
We hope that this clarifies the situation, and hope to continue our cooperation. if you have any further questions or needed clarification - please let us know.
Thank you.
Nov 24 2016 at 09:32
Very professional Broker!
Patience is important...
To get back the fund from the online brokers is always the leading concern
In the event of withdrawal, FBS is excellent. Receiving my funds to my e-wallet within a couple of minutes! Never had any problem
A reliable broker. Thank you FBS!
In the event of withdrawal, FBS is excellent. Receiving my funds to my e-wallet within a couple of minutes! Never had any problem
A reliable broker. Thank you FBS!
hi guys which is the account showed under myfxbook spread comparison? The tightest with no commissions???
TRADE WHAT YOU EXPECT NOT WHAT YOU SEE :) !!!
Jun 18 2017 at 07:00
chanel posted:
hi guys which is the account showed under myfxbook spread comparison? The tightest with no commissions???
Hello CHANEL!
Thank you for your inquiry - The account is ECN Account. It does have commission - take a look here to get more information https://fbs.com/trading/ecn . We will be happy to answer any questions that you may have via Live Chat, which is available in the bottom right corner on our website. Wishing you HAPPY and PROFITABLE TRADING!
Jul 13 2017 at 12:33
FBS is really good broker. I Like their customer support and fast order execution. Their Spread is really fair
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