FBS review
FBS is a forex and CFD broker founded in 2009 by Satthakarn Chuenkomol, headquartered in Belize City, Belize. Its core offshore entity is regulated by Belize's Financial Services Commission and offers leverage up to 1:3000, with a $1-10 minimum deposit on its Cent account. A separate EU entity, Tradestone Limited, is regulated by CySEC in Cyprus (licence 331/17) and caps retail leverage at 1:30 under EU rules; FBS also holds an ASIC licence in Australia. In 2021, security researchers found an unsecured, password-free FBS database exposing identity documents and financial data for roughly 16 million traders; FBS secured the server within days of notification.
FBS key facts
- Website: fbs.com
- Category: Offshore-heavy forex & CFD broker
- Founded: 2009
- Headquarters: Belize City, Belize
- Founder: Satthakarn Chuenkomol
- Core regulation: FSC Belize (offshore entity)
- EU entity: CySEC Cyprus, licence 331/17
- Leverage range: 1:30 to 1:3000, by entity
- Minimum deposit: $1-10 (Cent account, offshore)
- CEO: Satthakarn Chuenkomol
- FYI Score: 89.1/100 (ranked #54 of the CFD brokers we track)
Regulation & licences
- FBS's core offshore entity is regulated by Belize's Financial Services Commission (FSC, the successor to the former IFSC), the licence most global retail clients trade under.
- A separate EU entity, Tradestone Limited, holds a CySEC (Cyprus) licence (331/17) and is subject to EU retail leverage caps (1:30) and the Investor Compensation Fund.
- FBS also holds an ASIC licence in Australia; it is not FCA-regulated in the UK, so UK clients aren't served by a UK-authorised FBS entity.
- No single FBS entity covers every jurisdiction: leverage, investor protections and available products differ materially between the Belize offshore entity and the CySEC EU entity.
Spreads & fees
- Floating spreads from around 0.7 pips on the Standard account.
- A Zero Spread account offers fixed 0.0-pip pricing with commissions from $20 per standard lot, limited to a smaller set of roughly 31 FX pairs plus two metals.
- Cent account: $1-10 minimum deposit, trades sized in cents rather than dollars, aimed at very small accounts.
- ECN account requires a $1,000 minimum deposit, commission-based pricing.
Platforms & tools
- MetaTrader 4 and MetaTrader 5 (desktop, web, Android, macOS), plus a proprietary FBS Trader mobile app.
- No proprietary desktop platform beyond MetaTrader.
- An Islamic (swap-free) account is available by converting an existing Cent or Standard account.
Markets & instruments
- FBS advertises access to 500+ markets: forex, metals, stocks, bonds, indices, energies, commodities and a small number of cryptocurrencies.
- Exact instrument counts vary by account type and by which regulated entity the account sits under.
Account types
- Standard account: spread-based pricing, no commission.
- Cent account: $1-10 minimum deposit, trades in cents, leverage up to 1:1000 or higher under the offshore entity.
- Zero Spread account: 0.0-pip fixed spread plus a per-lot commission.
- ECN account: commission-based, $1,000 minimum deposit.
- Demo accounts available for Standard and Cent.
Markets
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Platforms
MetaTrader 4, MetaTrader 5, FBS Trader (proprietary app)
Who FBS is for
Fits a cost-sensitive trader who wants to start with a very small deposit and doesn't mind trading under an offshore entity with weaker protections. An EU-based trader gets a materially different, more conservative product (1:30 leverage, CySEC oversight) than the offshore headline terms advertise.
Pros
- Very low barrier to entry: $1-10 minimum deposit on Cent accounts.
- Very high leverage (up to 1:3000) available under the offshore Belize entity for traders who want it.
- Broad instrument range (500+ markets) across forex, metals, indices, energies and stocks in one account.
- Both MetaTrader 4 and 5 supported, plus a dedicated mobile app.
Cons
- Most global clients trade under an offshore Belize entity with no EU/UK-style investor compensation scheme, a materially weaker protection tier than the CySEC entity.
- In 2021, security researchers found an unsecured, password-free FBS database exposing roughly 16 million traders' passport, ID, credit-card and account-credential data; FBS secured it within days of notification, but it's a real data-governance flag.
- 1:3000 leverage is well outside what most professional risk frameworks would consider prudent, and is offered on the same brand as the far more conservative CySEC entity.
- No FCA licence; UK-based clients aren't directly served by a UK-regulated FBS entity.
FBS FAQ
Is FBS regulated?
Yes, but coverage varies by entity. FBS's core offshore business is regulated by Belize's Financial Services Commission. A separate EU entity, Tradestone Limited, is regulated by CySEC in Cyprus (licence 331/17) under standard EU rules, and FBS also holds an ASIC licence in Australia. There is no FCA-authorised FBS entity for UK clients.
What leverage does FBS offer?
Up to 1:3000 under FBS's offshore Belize entity, which carries most of its global retail volume. The CySEC-regulated EU entity, Tradestone Limited, caps retail leverage at 1:30 in line with EU rules.
Was FBS involved in a data breach?
Yes. In 2021, security researchers found an unsecured, password-free FBS Elasticsearch server exposing roughly 16 million traders' names, passwords, passport and ID numbers, credit-card details and verification documents. FBS secured the server within days of being notified.
What platforms does FBS support?
MetaTrader 4 and MetaTrader 5 on desktop, web, Android and macOS, plus a proprietary FBS Trader mobile app. FBS does not offer a proprietary desktop trading platform.
Compare FBS with other CFD brokers
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