CFA Franc Forex Trading Accounts
Scam Forex Brokers in Ivory Coast
Overall, FBS can be summarised as a trustworthy and highly regulated Forex Broker that is very competitive in terms of its trading fees. FBS offers an easy-to-use social copy trading platform with excellent customer support. FBS offers six retail trading accounts: Cent, Micro, Standard, Zero, ECN, Pro, and Crypto Account. FBS has a trust score of 75 out of 99.
| 🧑⚖️ Order Execution | 4/5 |
| 💵 Commissions and Fees | 5/5 |
| 📈 Range of Markets | 4/5 |
| 📉 Variety of Markets | 4/5 |
| ⏱️ Withdrawal Speed | 4/5 |
| 👥 Customer Support | 4/5 |
| 📊 Trading Platform | 5/5 |
| 🎓 Education | 4/5 |
| 🗂️ Research | 4/5 |
| ⌛ Regulation | 3/4 |
| 📱 Mobile Trading | 4/5 |
| 💯 Trust Score | 75% |
FBS Review – Analysis of Brokers’s Main Features
- ☑️ FBS Overview
- ☑️ FBS Detailed Summary
- ☑️ FBS – Advantages over Competitors
- ☑️ Who will Benefit from Trading with FBS?
- ☑️ FBS Safety and Security
- ☑️ FBS Bonuses and Promotions
- ☑️ FBS Affiliate Program Features
- ☑️ FBS Account Types and Features
- ☑️ FBS Base Account Currencies and Basic Order Types
- ☑️ FBS – Slippage and Requote Policy
- ☑️ How to Open and Close an FBS Account
- ☑️ FBS Trading Platforms
- ☑️ Which Markets Can You Trade with FBS?
- ☑️ FBS Fees, Spreads, and Commissions
- ☑️ FBS Deposits and Withdrawals
- ☑️ FBS Education and Research
- ☑️ FBS Customer Support
- ☑️ FBS VPS Review
- ☑️ FBS Corporate Social Responsibility
- ☑️ FBS Cashback Rebates Features and Conditions
- ☑️ FBS Web Traffic Report
- ☑️ FBS Geographic Reach and Limitations
- ☑️ FBS vs LiteFinace vs easyMarkets – A Comparison
- ☑️ FBS Alternatives
- ☑️ FBS Awards and Recognition
- ☑️ Recommendations according to our in-depth review of FBS
- ☑️ FBS Customer Reviews
- ☑️ Pros and Cons of Trading with FBS
- ☑️ In Conclusion
- ☑️ Frequently Asked Questions
FBS Overview
FBS has cemented its status as a trusted broker for Ivory Coast traders, providing a secure and transparent trading environment backed up by regulation from renowned bodies such as the IFSC, CySEC, and ASIC.
Traders in the Ivory Coast can navigate the markets effectively thanks to a user-friendly custom trading platform and MetaTrader integration, as well as trading accounts tailored to different experience levels, from beginners to experts in forex trading.
The varied trading conditions, including a maximum leverage of 1:3000, accommodate both conservative and aggressive trading approaches. Furthermore, FBS’s educational materials and resources, and 24-hour customer support give a solid foundation for traders to develop and perfect their techniques.
Although FBS’s asset range may appear limited, and there is a lack of local office support in the Ivory Coast, the positives, such as competitively tight spreads and sophisticated trading tools, make it an appealing option for Ivory Coast traders seeking a professional, reputable, and flexible broker
FBS Detailed Summary
| Broker | FBS |
| 🏦Headquartered | Belize |
| 🌎Global Offices | Malaysia, Laos, Thailand, Dubai, Brazil, Turkey |
| 📈Local Market Regulator in Ivory Coast | Banking Commission of the West African Economic Monetary Union (WAEMU) |
| ✳️Foreign Direct Investment in Ivory Coast | 1.4 billion USD (2021) |
| 💷Foreign Exchange Reserves in Ivory Coast | 2.5 million USD (April 2024) |
| 🏠Local office in Yamoussoukro | None |
| 👤Governor of SEC in Ivory Coast | None |
| ✔️Accepts Ivory Coast Traders? | ✅ Yes |
| 🔢Year Founded | 2009 |
| ☎️Ivory Coast Office Contact Number | None |
| 💻Social Media Platforms | Facebook Telegram YouTube |
| 🖋️Regulation | IFSC, CySEC, ASIC |
| 🥉Tier-1 Licenses | Australian Securities and Exchange Commission (ASIC) |
| 🥈Tier-2 Licenses | Cyprus Securities and Exchange Commission (CySEC) |
| 🥇Tier-3 Licenses | International Financial Service Commission (IFSC) in Belize |
| 🔢License Number | Belize - 000102/198 Cyprus (Tradestone) – 331/17 Australia (IFM) – 426359 |
| ☑️Banking Commission of WAEMU Regulation | None |
| ❌Regional Restrictions | Japan, United States, Canada, United Kingdom, Myanmar, Brazil, Malaysia, Israel, the Islamic Republic of Iran |
| ☪️Islamic Account | ✅ Yes |
| 🗂️Demo Account | ✅ Yes |
| ✏️Non-expiring Demo | ✅ Yes |
| ⌚Demo Duration | Unlimited |
| 👤Retail Investor Accounts | 7 |
| 📝PAMM Accounts | None |
| ⚙️Liquidity Providers | Currenex |
| 🤝Affiliate Program | ✅ Yes |
| 🧑⚖️Order Execution | Market |
| ➡️OCO Orders | None |
| 🖥️One-Click Trading | ✅ Yes |
| 🏷️Scalping | ✅ Yes |
| 🛎️Hedging | ✅ Yes |
| 🗣️Expert Advisors | ✅ Yes |
| 📰News Trading | ✅ Yes |
| 👉Trading API | ✅ Yes |
| 📌Starting spread | 0.0 pips |
| 💵Minimum Commission per Trade | From $6 |
| 💶Decimal Pricing | 5th decimal pricing after the comma |
| 🚩Margin Call | 40% |
| 🛑Stop-Out | 20% |
| ⬇️Minimum Trade Size | 0.01 lots |
| ⬆️Maximum Trade Size | 500 lots |
| 💰Crypto trading offered? | ✅ Yes |
| ✔️Offers an XAF Account? | None |
| 👤Dedicated Ivory Coast Account Manager? | None |
| ⬆️Maximum Leverage | 1:3000 |
| ❌Leverage Restrictions? | None |
| 💷Minimum Deposit (XAF) | 600 XAF ($1) |
| 💵Deposit Currencies | All, deposits will be converted to USD or EUR |
| ✏️Are XAF Deposits Allowed? | ✅ Yes |
| 💴Account Base Currency | USD, EUR |
| 📈Active Ivory Coast Trader Stats | Unknown |
| 👥Active FBS customers | 23 million+ |
| 👩👧👧Active FBS customers in Ivory Coast | Unknown |
| 🔢Ivory Coast Daily Forex Turnover | $5 trillion+ (Overall Forex Globally) |
| 💳Deposit and Withdrawal Options | Perfect Money Bitcoin Credit/Debit Card Sticpay |
| ⏰Minimum Withdrawal Time | 15 – 20 minutes |
| 🕰️Maximum Estimated Withdrawal Time | 5 – 7 working days |
| ☑️Instant Deposits and Instant Withdrawals? | ✅ Yes, deposits |
| ⚠️Segregated Accounts? | ✅ Yes |
| 🗂️Segregated Accounts in Ivory Coast? | None |
| 📊Trading Platforms | FBS Trader MetaTrader 4 MetaTrader 5 CopyTrade Platform |
| 📉Trading Platform Time | UTC +3 |
| 🧐Observe DST Change | ✅Yes |
| ⌚DST Change Time zone | Eastern European Time (EET) |
| 💎Tradable Assets | Forex Precious Metals Indices Energies Stocks Exotic Forex Cryptocurrencies |
| $ FBS USD/XAF Forex Pair? | None |
| 📊Are local Stocks and CFDs offered? | None |
| Languages supported on the Website | English, German, Spanish, French, Italian, Portuguese, Indonesian, Malay, Vietnamese, Turkish, Korean, and others |
| 🗣️Customer Support Languages | Multilingual |
| 📌Copy Trading Support | ✅ Yes |
| ⏱️Customer Service Hours | 24/7 |
| 👥Customer Support in Ivory Coast? | None |
| 🎁Bonuses and Promotions for Traders? | ✅ Yes |
| 🎓Education for beginners | ✅ Yes |
| 💻Proprietary trading software | ✅ Yes |
| ✴️Most Successful Ivory Coast Trader | Unknown |
| ☑️Is FBS a safe broker for traders? | ✅ Yes |
| 🔢Rating for FBS in Ivory Coast | 9/10 |
| 💯Trust score for FBS in Ivory Coast | 75% |
FBS – Advantages over Competitors
FBS has the following notable advantages over competitors:
- ✅ FBS is regulated by reputable organisations, ensuring high security and integrity, which is particularly important for Ivory Coast traders seeking a safe trading environment.
- ✅ Ivory Coast traders can benefit from FBS’s “Cent account,” specifically for beginners or those seeking low-risk trading. This account allows trading with real money starting at just $1 and supports micro-lot trading, reducing risk even further.
- ✅ FBS offers competitive spreads on a wide range of assets, including the possibility of negative spreads on certain instruments. This is advantageous for Ivory Coast traders utilising strategies like scalping.
- ✅ Ivory Coast traders can employ various trading strategies on FBS’s platform, including hedging, scalping, and algorithmic trading, providing flexibility and catering to different trading preferences.
- ✅ FBS has been honoured with 70 prestigious international awards, reflecting its outstanding reputation and service excellence, making it a trusted choice for Ivory Coast traders.
- ✅ FBS offers a user-friendly proprietary trading platform tailored to Ivory Coast traders’ needs, especially those new to trading.
- ✅ Ivory Coast traders can select from six different account categories on FBS, each with unique features and benefits, such as the Micro, Standard, Zero-spread, ECN, and Crypto accounts, enabling traders to choose the account that aligns with their specific requirements.
Finally, FBS is a popular choice for scalpers in Ivory Coast due to its quick execution speed, with orders processed in 0.4 seconds, and the broker allows the usage of a VPS for enhanced trading efficiency.
Who will Benefit from Trading with FBS?
Ivory Coast traders who prioritise low spreads (especially for scalping), seek minimal risk (through the Cent account), and value the flexibility of different account types to suit their trading strategies will benefit the most from trading with FBS.
FBS Safety and Security
FBS Regulations in Ivory Coast
FBS is not currently regulated by the Banking Commission of the West African Economic Monetary Union (WAEMU). However, as per the table in the following section, FBS is well-regulated by several reputable market regulators in other countries.
| 🔍Registered Entity | 🌎Country of Registration | 🚩Company Reg. | 📌Regulatory Entity | 🏅Tier | 🔢License Number/Ref |
| 🥇FBS Markets, Inc. | Belize | N/A | IFSC | 3 | 000102/460 |
| 🥈Tradestone Ltd | Cyprus | 353534 | CySEC | 2 | 331/17 |
| 🥉Intelligent Financial Markets Pty Ltd | Australia | ABN 48 155 185 014 | ASIC | 1 | 426359 |
How FBS Protects Ivory Coast Traders and Client Funds
| 🔍Security Measure | ℹ️ Information |
| 🗂️Segregated Accounts | ✅ Yes |
| 👤Compensation Fund Member | ✅ Yes |
| 💵Compensation Amount | 20,000 EUR or 90% of the claim |
| ✏️SSL Certificate | ✅ Yes |
| ✔️2FA (Where Applicable) | ✅ Yes |
| ⛔Privacy Policy in Place | ✅Yes |
| ⚠️Risk Warning Provided | ✅ Yes |
| ❌Negative Balance Protection | ✅ Yes |
| 🛑Guaranteed Stop-Loss Orders | None |
Security while Trading
FBS offers unique features and benefits that make it an attractive choice for traders. Firstly, FBS is regulated by reputable international financial authorities. This multi-regulation ensures that FBS operates per stringent trader protection and security guidelines, providing peace of mind to traders.
One of the key advantages of trading with FBS is the availability of multiple account types. This allows traders to choose the account that suits their needs and trading strategies.
Whether traders are beginners looking for low-risk options or experienced professionals seeking advanced features, FBS caters to a diverse range of traders.
FBS seamlessly integrates with popular trading platforms, MetaTrader 4 and MetaTrader 5. These platforms are renowned for their high level of security and widespread use among traders worldwide.
By offering compatibility with MetaTrader, FBS ensures that traders enjoy a familiar and reliable trading experience.
In terms of customer support, FBS stands out by providing 24/7 assistance. This means that traders can access support whenever needed, ensuring prompt resolution of any issues or inquiries that may arise during their trading journey.
FBS recognises the importance of convenient and secure payment options. They support various payment methods, including credit and debit cards, Apple Pay, and bank transfers. Importantly, FBS does not charge any deposit fees for these payment methods.
Additionally, the payment methods offered by FBS are adaptive, adjusting based on the trader’s country to ensure compatibility with local financial systems.
FBS offers the advantage of low minimum deposits for traders with varying investment capacities. This accessibility allows traders with different budgetary constraints to participate in the financial markets and take advantage of the opportunities presented.
To further enhance the trading experience, FBS provides a mobile app. This mobile app lets traders conveniently access their accounts and execute trades while on the go.
Mobile apps often incorporate advanced security features such as data encryption and biometric authentication, ensuring the safety of traders’ sensitive information.
Pros and Cons Regulation and Safety of Funds
| ✅ Pros | ❎ Cons |
| FBS provides robust security features on the website and trading platforms | The FSCA license for FBS was withdrawn recently |
| All retail accounts are protected by negative balance protection | FBS is not locally regulated in the Ivory Coast |
FBS Bonuses and Promotions
FBS offers Ivory Coast traders the following bonuses and promotions:
- ✅ FBS Traders Parties
- ✅ Get a Car from FBS
- ✅ Level-up Bonus
- ✅ 100% Deposit Bonus
- ✅ Cashback bonus
- ✅ Quick Start Bonus
- ✅ Referral Program
- ✅ Risk-free investments
- ✅ Loyalty Program
- ✅ Trade to Help
- ✅ FBS Winning Season
- ✅ FBS Leaders’ Summit
- ✅ FBS League
- ✅ FBS Gift Season
FBS Affiliate Program Features
The FBS Affiliate Program presents an enticing opportunity for Ivory Coast traders to establish their own businesses with zero initial investment. It distinguishes itself with an attractive commission structure that offers substantial earnings for referring new clients to FBS.
Notably, commissions are tied to the trading activity of referred clients, providing strong incentives for partners to promote FBS services.
Depending on the client’s account type and trading instruments used, commissions can range from $10 to $80 per lot. The program ensures prompt commission payments, transparent financial management through the Partner Area, and flexible withdrawal options.
Additionally, the “Cascades by FBS” multi-level partnership structure enhances profitability while a wide array of tools and resources support effective promotion and business growth.
How to open an Affiliate Account with FBS
To register an Affiliate Account, Ivory Coasts can follow these steps:
- ✅ Open a partner account on the FBS website.
- ✅ Log in to your Personal Area and obtain your unique referral link, which stores client information for 30 days.
- ✅ Promote the referral link across multiple sources, utilizing FBS’s provided promotional materials.
- ✅ Monitor your referred customers’ trading activity and receive commissions.
FBS Account Types and Features
| 🔍Live Account | 💵Minimum Dep. | ⏱️Average Spread | 💷Commissions | $ Average Trading Cost |
| 🥇Cent | 600 XAF/$1 | 0.3 pips | None | 8 USD |
| 🥈Micro | 600 XAF/$1 | 3 pips | None | 30 USD |
| 🥉Standard | 600 XAF/$1 | 0.5 pips | None | 8 USD |
| 🏆Zero | 600 XAF/$1 | 0.0 pips | $20 per lot | 20 USD |
| 🏅ECN | 600 XAF/$1 | 0.0 pips | $6 | 6 USD |
| 💎Pro | 120,000 XAF / $200 | 0.5 pips | None | 5 USD |
| 💰Crypto | 600 XAF/$1 | 1 pip | 0.05% | 8 USD |
FBS Cent Account
The Cent Account is designed for novice traders, allowing them to start with small investments and trade in micro-lots. With a minimum deposit of 600 XAF (equivalent to $1), traders can access floating spreads starting from 1 pip.
This account type offers a low-risk environment for learning and practising trading strategies, supporting up to 1:1000 leverage.
| 🔍Account Feature | 💵Value |
| 💴Minimum Deposit | 600 XAF, equivalent to $1 |
| ⏱️Average spread | Floating, from 1 pip |
| 💷Commission | None |
| 📈Leverage | Up to 1:1000 |
| ⬆️Maximum opening positions | 200 |
| ➡️Order volume | Between 0.01 to 1,000 cent lots |
| 🧑⚖️Market Execution | From 0.3 seconds, STP |
| 📊Trading Platform | MetaTrader 4 MetaTrader 5 FBS Trader |
| 💎Tradable Instruments | Forex Precious Metals Indices Energies Forex Exotic Pairs Stocks |
| ☪️Swap-Free Islamic Option | ✅ Yes |
FBS Micro Account
The Micro Account is a suitable choice for traders who prefer smaller volumes. With the same minimum deposit as the Cent Account, this account offers fixed spreads starting from 3 pips. It caters to precise position sizing and allows leverage of up to 1:3000.
| 🔍Account Feature | 💵Value |
| 💴Minimum Deposit | 600 XAF, equivalent to $1 |
| ⏱️Average spread | Fixed, from 3 pips |
| 💷Commission | None |
| 📈Leverage | Up to 1:3000 |
| ⬆️Maximum opening positions | 200 |
| ➡️Order volume | Between 0.01 to 500 lots |
| 🧑⚖️Market Execution | From 0.3 seconds, STP |
| 📊Trading Platform | MetaTrader 4 FBS Trader |
| 💎Tradable Instruments | Forex Precious Metals |
| ☪️Swap-Free Islamic Option | ✅ Yes |
FBS Standard Account
The Standard Account provides a versatile option for traders with access to various trading instruments and features.
With a minimum deposit of 600 XAF, traders can benefit from floating spreads starting from 0.5 pip and leverage up to 1:3000. This account type supports various trading strategies. It is suitable for both beginner and experienced traders.
| 🔍Account Feature | 💵Value |
| 💴Minimum Deposit | 600 XAF, equivalent to $1 |
| ⏱️Average spread | Floating from 0.5 pip |
| 💷Commission | None |
| 📈Leverage | Up to 1:3000 |
| ⬆️Maximum opening positions | 200 |
| ➡️Order volume | Between 0.01 to 500 lots |
| 🧑⚖️Market Execution | From 0.3 seconds, STP |
| 📊Trading Platform | MetaTrader 4 MetaTrader 5 FBS Trader |
| 💎Tradable Instruments | Forex Precious Metals Indices Energies Forex Exotics Stocks |
| ☪️Swap-Free Islamic Option | ✅ Yes |
FBS Zero Account
Traders looking for tighter spreads and faster execution may opt for the Zero Account.
With fixed spreads starting from 0 pips and a commission of $20 per lot, this account type is ideal for those prioritising precision and cost efficiency. Furthermore, it operates with market execution and has no requotes.
| 🔍Account Feature | 💵Value |
| 💴Minimum Deposit | 600 XAF, equivalent to $1 |
| ⏱️Average spread | Fixed, 0 pips |
| 💷Commission | From $20 per lot |
| 📈Leverage | Up to 1:3000 |
| ⬆️Maximum opening positions | 200 |
| ➡️Order volume | Between 0.01 to 500 lots |
| 🧑⚖️Market Execution | From 0.3 seconds, STP |
| 📊Trading Platform | MetaTrader 4 FBS Trader |
| 💎Tradable Instruments | Forex Precious Metals Forex Exotics |
| ☪️Swap-Free Islamic Option | ✅ Yes |
FBS ECN Account
The ECN Account offers direct market access, allowing traders to interact with liquidity providers. It provides transparent pricing, deeper liquidity, and fast execution.
With floating spreads starting from -1 pip and a commission of $6, this account type caters to advanced traders who require enhanced order execution and access to interbank markets.
| 🔍Account Feature | 💵Value |
| 💴Minimum Deposit | 600 XAF, equivalent to $1 |
| ⏱️Average spread | Floating from -1 pip |
| 💷Commission | $6 |
| 📈Leverage | Up to 1:500 |
| ⬆️Maximum opening positions | None |
| ➡️Order volume | Between 0.01 to 500 lots |
| 🧑⚖️Market Execution | ECN |
| 📊Trading Platform | MetaTrader 4 FBS Trader |
| 💎Tradable Instruments | 25 forex currency pairs |
| ☪️Swap-Free Islamic Option | None |
FBS Pro Account
The Pro Account is specifically tailored for experienced traders seeking optimal trading conditions. With a minimum deposit of 120,000 XAF (equivalent to $200), this account type offers floating spreads starting from 0.5 pips and leverage up to 1:2000.
It supports expert advisors and advanced trading strategies, providing tight spreads, deep liquidity, and fast execution speed.
| 🔍Account Feature | 💵Value |
| 💴Minimum Deposit | 120,000 XAF, equivalent to $200 |
| ⏱️Average spread | Floating from 0.5 pips |
| 💷Commission | $0 |
| 📈Leverage | Up to 1:2000 |
| ⬆️Maximum opening positions | None |
| ➡️Order volume | Between 0.01 to 500 lots |
| 🧑⚖️Market Execution | STP, from 0.1 seconds |
| 📊Trading Platform | MetaTrader 4 MetaTrader 5 |
| 💎Tradable Instruments | 36 Forex pairs, 8 metals, 3 energies, 11 indices, 127 stocks, and 5 cryptocurrency pairs |
| ☪️Swap-Free Islamic Option | None |
FBS Crypto Account
For traders interested in cryptocurrency trading, the Crypto Account allows them to trade popular cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.
With floating spreads starting from 1 pip and a commission of 0.05% for opening and closing positions, this account type offers competitive pricing and a secure trading environment.
| 🔍Account Feature | 💵Value |
| 💴Minimum Deposit | 600 XAF, equivalent to $1 |
| ⏱️Average spread | Floating from 1 pip |
| 💷Commission | 0.05% for opening and 0.05% for closing positions |
| 📈Leverage | 1:5 |
| ⬆️Maximum opening positions | 200 |
| ➡️Order volume | Between 0.01 to 500 lots |
| 🧑⚖️Market Execution | From 0.3 seconds, STP |
| 📊Trading Platform | MetaTrader 5 |
| 💎Tradable Instruments | Cryptocurrencies |
| ☪️Swap-Free Islamic Option | None |
FBS Demo Account
FBS also offers a demo account, allowing traders to practice trading with virtual funds and real-time market data on the MetaTrader 4 or MetaTrader 5 platforms. This helps traders simulate real trading conditions and test their strategies without risking real money.
Ivory Coast traders can also participate in the FBS League contest, adding excitement to their demo trading experience.
FBS Islamic Account
For Muslim traders adhering to Shariah principles, FBS offers Islamic accounts that comply with Islamic finance regulations.
These accounts are available in different types and provide features such as leverage ratios adhering to Islamic finance regulations, floating spreads, fast market execution, a wide range of trading instruments, and compatibility with FBS Trader, MetaTrader 4, or MetaTrader 5 platforms.
FBS Professional Account
FBS has recently added a Pro Account to its retail accounts, providing experienced traders with a customised account with the features necessary to participate in a competitive trading environment.
Pros and Cons FBS Account Types and Features
| ✅ Pros | ❎ Cons |
| Traders can choose from several account types according to their trading experience, objectives, and trading needs | There is no equal distribution of financial instruments across account types |
| Negative balance protection is applied to retail accounts | Traders can still clear their trading balance when they use high-leverage ratios |
FBS Base Account Currencies and Basic Order Types
FBS Base Account Currencies
Ivory Coast traders must note that FBS does not accept XAF accounts, so traders may incur conversion fees when depositing or withdrawing funds. These charges can impact trading costs and profitability, and traders should consider them when managing their accounts.
FBS Basic Order Types
FBS’s basic order types are as follows:
- ✅ Market Orders
- ✅ Pending Orders
- ✅ Take Profit
- ✅ Stop-Loss Orders
Market Orders
A Market Order is a request to buy or sell a Contract for Difference (CFD) at the prevailing market price as promptly as possible, opening a trade position. CFDs are purchased at the ASK price and sold at the BID price.
Furthermore, with FBS, Market Orders are available for all accounts. In addition, Market Orders can be accompanied by Stop Loss and Take Profit Orders.
Pending Orders
Pending Orders are requests to buy or sell a CFD at a pre-defined price in the future once a certain price is reached. FBS offers four Pending Orders: Buy Limit, Buy Stop, Sell Limit, and Sell Stop.
These orders are executed when the price reaches the specified level. However, executing at the requested price may be impossible under certain trading conditions. FBS can execute the order at the first available price in such cases.
Stop Loss and Take Profit Orders can be attached to a Pending Order and are valid until cancelled. In addition, Pending Orders are available for all accounts with FBS.
Take Profit
Take Profit Orders are intended to secure profit when the price of a CFD reaches a specific level. The execution of this order results in the complete closure of the entire position and is always connected to an open, market, or pending order.
In addition, the FBS platform checks long positions with the BID price and short positions with the ASK price to determine if the provisions of the Take Profit Order have been met.
Stop-Loss Orders
Stop-Loss Orders are used to minimise losses if the price of a CFD begins to move in an unprofitable direction. If the price of the CFD reaches the Stop-Loss level, the entire position will be automatically closed.
Stop-Loss Orders are always connected to an open, market, or pending order. The FBS platform checks long positions with the BID price and short positions with the ASK price to determine if the provisions of the Stop-Loss Order have been met.
FBS – Slippage and Requote Policy
FBS reserves the right to cancel client orders that do not comply with the terms or are executed at off-market quotes. This measure ensures fairness and maintains the integrity of the trading environment on the platform.
How to Open and Close an FBS Account
How to open an Account with FBS
To register an account with FBS, Ivory Coast, traders can follow these easy steps:
- ✅ Visit the FBS website and click the “Open an account” banner.
- ✅ Choose to register via a social network or manually enter the required data.
- ✅ Provide a valid email and full name for verification and smooth withdrawal processes.
- ✅ Click the “Register as Trader” button and create your password (recommended).
- ✅ Open the email confirmation link in the browser where the Personal Area is open.
- ✅ Once the email address is confirmed:
- Choose between a Real account and a Demo account.
- FBS offers various account types for different trading preferences and experience levels.
- For beginners, the Cent account allows trading with smaller amounts of money.
- Experienced traders can choose from Micro, Standard, ECN, Crypto, Zero Spread, or Pro accounts.
- Select the MetaTrader version, account currency, and leverage according to your preference.
- ✅ After completing registration:
- Save and keep your account information in a safe place.
- Enter your account number (MetaTrader login), trading password (MetaTrader password), and MetaTrader server in MetaTrader 4 or MetaTrader 5 to start trading.
How to close My Account with FBS
To close a live trading account with FBS, Ivory Coast, traders can follow these steps:
- ✅ Ensure all funds, including invested capital and profits, have been withdrawn from the account.
- ✅ Close any open trades, such as selling stocks, closing forex trades, or exiting positions.
- ✅ Contact FBS customer support, available 24/7, to initiate the account closure process.
- ✅ Customer support will provide specific instructions on how to close your account, which may involve filling out a form or confirming the closure request via email.
- ✅ Once you have followed the broker’s process, await confirmation of the account closure, typically received through an email.
FBS Trading Platforms
MetaTrader 4
FBS offers the popular MetaTrader 4 (MT4) platform for Windows, Mac, Android, and iOS devices. It ensures data encryption for secure trading and supports expert advisors and scripts for automation and customisation.
With 50 indicators and charting tools, one-click trading, news integration, pending orders, hedging positions, and VPS support, MT4 provides a comprehensive trading environment.
MetaTrader 5
FBS presents the advanced MetaTrader 5 (MT5) platform with expanded features. Traders can create custom indicators, trading robots, and applications.
MT5 supports six types of pending orders, offers an integrated economic calendar, and provides 90 indicators and charting tools for detailed technical analysis. It retains one-click trading and news integration and introduces trading stocks and commodities alongside currencies.
FBS Trader App
The FBS Trader app offers a user-friendly trading experience with an intuitive layout and seamless switching between real and demo accounts.
It provides a comprehensive tutorial, educational videos, and an integrated economic calendar. Traders can easily monitor real-time statistics, open, close, and edit positions, and manage working orders.
Pros and Cons FBS Trading Platforms
| ✅ Pros | ❎ Cons |
| Traders can trade using MT4 or MT5, two of the industry’s most popular platforms | The proprietary app is a gateway to MT4 and 5 and not a fully-functional independent app with robust features |
| Traders can register a demo account across these platforms | When Ivory Coast traders use MT4 and 5 on mobile, they lose functionality which is only on the desktop and web platforms |
Which Markets Can You Trade with FBS?
Ivory Coast traders can expect the following range of markets from FBS:
- ✅ Forex
- ✅ Precious Metals
- ✅ Indices
- ✅ Energies
- ✅ Stocks
- ✅ Exotic Forex
- ✅ Cryptocurrencies
Financial Instruments and Leverage offered by FBS
| 🔍Instrument | 🔢Number of Assets Offered | ⬆️Max Leverage Offered |
| 🏅Forex | 37 | 1:3000 |
| 💎Precious Metals | 4 | 1:333 |
| 📌Indices | 12 | 1:33 |
| 📊Stocks | 96 | 1:100 |
| 💰Cryptocurrency | 100 | 1:5 |
| 🛢️Energies | 5 | 1:33 |
Pros and Cons FBS Range of Markets
| ✅ Pros | ❎ Cons |
| There are more than 100 crypto pairs that can be traded with leverage up to 1:5 | Excessive leverage is extremely risky and can clear a trading account |
| Traders can expect access to forex major, minor, and exotic pairs on most accounts except the Crypto Account | There are fewer instruments offered than competitors |
FBS Fees, Spreads, and Commissions
FBS Spreads
FBS charges fixed and variable spreads according to the account type that Ivory Coast traders use. Traders must note that while variable spreads are lower, they often change according to market conditions.
The typical spreads that traders can expect according to the trading accounts on EUR/USD are as follows:
- ✅ Cent Account – Variable, from 1 pip
- ✅ Micro Account – Fixed, from 3 pips
- ✅ Standard Account – Variable, from 0.5 pips
- ✅ Zero Account – Fixed, 0 pips
- ✅ ECN Account – Floating, 0.0 pips
- ✅ Pro Account – Floating, 0.5 pips
- ✅ Crypto Account – Floating, from 1 pip
Furthermore, here are some other spreads that traders can expect according to the account type and financial instrument, subject to change:
| 🔍Instrument | 🥇Standard | 🥈Cent | 🥉Pro | 🏆Zero Spread | 🏅ECN | 💎Micro | 💰Crypto |
| 💡XAG/USD | 0.015 pips | 0.01 pips | 0.007 pips | 0.0 pips | N/A | 6 pips | N/A |
| ✏️XAU/USD | 0.12 pips | 0.012 pips | 0.08 pips | 0.0 pips | N/A | 4 pips | N/A |
| $ US100 | 2 pips | 2 pips | 2 pips | N/A | N/A | N/A | N/A |
| 📌XBR/USD | 0.03 pips | 0.03 pips | 0.025 pips | N/A | N/A | N/A | N/A |
| 🍎Apple | 0.03 pips | 0.03 pips | 0.03 pips | N/A | N/A | N/A | N/A |
| ⚙️BTC/USD | 8 pips | 8 pips | 8 pips | N/A | N/A | N/A | 25010 points |
FBS Commissions
Commissions are charged on the following retail investor accounts:
- ✅ FBS Zero Account – from $20 per lot
- ✅ FBS ECN Account – $6
- ✅ FBS Crypto Account – 0.05% for opening as well as 0.05% for closing positions
FBS Overnight Fees, Rollovers, or Swaps
Traders who hold positions for longer than 24 hours may incur overnight fees, also known as charges or interest. Depending on the particular position of the trader, these fees may be credited or debited.
Some typical overnight fees according to the financial instrument are as follows:
| 🔍Instrument | 📌Swap Long (Buy) | 🚩Swap Short (Sell) |
| 💡EUR/USD | -6.37 pips | -0.69 pips |
| ✏️XAG/USD | -1.77 pips | -1.24 pips |
| 🛎️XAU/USD | -2.12 pips | -1.35 pips |
| $ US100 | -85.91 pips | -117.2 pips |
| 🚨XBR/USD | -7.74 pips | -6.28 pips |
| 🍎Apple | -2.58 pips | -2.42 pips |
| ➡️BTC/USD | -1373.46 points | -742.59 points |
FBS Deposit and Withdrawal Fees
FBS does not charge deposit fees on Bitcoin, Credit cards, Debit Cards, or Sticpay. However, deposits made through Perfect Money could attract commissions. Furthermore, Ivory Coast traders can expect the following withdrawal fees according to local payment methods supported:
- ✅ Perfect Money – 0.5%
- ✅ Bitcoin – 1% + 1 USD
- ✅ Credit/Debit Card – 0.5 EUR – 2 EUR
FBS Inactivity Fees
When traders leave their trading account and allow it to become dormant after 180 days, FBS will subtract a $5 inactivity fee from the account balance.
FBS Currency Conversion Fees
Because FBS does not support XAF as an account base currency, these deposits and withdrawals will attract currency conversion fees.
Pros and Cons FBS Trading and Non-Trading Fees
| ✅ Pros | ❎ Cons |
| FBS offers local payment methods for Ivory Coast traders | FBS charges deposit and withdrawal fees on Ivory Coast payment methods |
| FBS ensures that all client funds are secure in segregated accounts with Top-tier banks | There is an inactivity fee |
| The trading and non-trading fees charged by FBS are transparent | Currency conversion fees can be expected |
FBS Deposits and Withdrawals
FBS offers Ivory Coast traders the following deposit and withdrawal methods:
- ✅ Perfect Money
- ✅ Bitcoin
- ✅ Credit Card
- ✅ Debit Card
- ✅ Sticpay
Broker Comparison: Deposit and Withdrawals
| 🔍Broker | 🥇FBS | 🥈LiteFinance | 🥉easyMarkets |
| ⏱️Minimum Withdrawal Time | 15 to 20 minutes (maximum 48 hours) | Instant | Instant |
| ⌚Maximum Estimated Withdrawal Time | Up to 7 days | Up to 5 working days | Up to 5 Days |
| ✔️Instant Deposits and Instant Withdrawals? | Instant Deposits | ✅ Yes | ✅ Yes |
FBS Deposit and Withdrawal Details – Payment Methods, currencies, processing time, etc.
| 📌Payment Method | 💵Deposit Currencies | ⌛Deposit Processing | 🚩Withdrawal Processing |
| 💸Perfect Money | USD | Instantly | 15 – 20 minutes |
| 💰Bitcoin | BTC, USD | 15 – 20 minutes | 15 – 20 minutes |
| 💳Credit Card | EUR | Instant | Max 5 – 7 days |
| 💳Debit Card | USD | Instant | Max 5 – 7 days |
| ✴️Sticpay | USD | Instant | 15 – 20 minutes |
How to Deposit Funds with FBS
To deposit funds to an account with FBS, Ivory Coast traders can follow these steps:
- ✅ Log in to your FBS account. If you don’t have an account, create one on the FBS website.
- ✅Once logged in, find the “Deposit” or “Add Funds” option in the account dashboard or navigation menu.
- ✅ Select your preferred payment method, such as Perfect Money, Bitcoin, Credit/Debit Card, or Sticpay.
- ✅ Enter the deposit amount you wish to add to your FBS account.
- ✅ Follow the instructions provided by FBS for your chosen payment method, which may involve providing payment details or confirming the transaction.
- ✅ Carefully complete the deposit process, ensuring accurate information submission.
- ✅ After successful processing, the funds will be credited to your FBS trading account. Confirm the deposit by checking your account balance.
FBS Fund Withdrawal Process
To withdraw funds from an account with FBS, Ivory Coast traders can follow these steps:
- ✅ Access your FBS account using your login credentials.
- ✅ Locate the “Withdrawal” or “Withdraw Funds” option on the account dashboard or menu.
- ✅ Choose your desired withdrawal method, such as bank transfer, credit/debit card, or electronic payment systems.
- ✅ Enter the amount you wish to withdraw from your FBS trading account.
- ✅ Follow the instructions specific to your withdrawal method, including providing financial information or confirming the withdrawal request.
- ✅ Review the details supplied and validate the withdrawal request.
- ✅ FBS will process your withdrawal request and transfer the funds to your specified withdrawal method.
Pros and Cons FBS Deposits and Withdrawals
| ✅ Pros | ❎ Cons |
| There are local deposit and withdrawal options for traders in the Ivory Coast | There are limited payment methods for Ivory Coast traders |
| Most deposits are processed instantly | Withdrawal fees are charged |
| There are short withdrawal processes involved | Ivory Coast traders cannot deposit or withdraw in XAF |
How long do FBS Deposits take?
The time it takes for FBS deposits to be credited can vary depending on the payment method chosen. In most cases, deposits are processed instantly or within minutes. However, some methods may require additional verification or processing time, which could take a few hours or longer.
How long do FBS Withdrawals take?
Withdrawal processing times can vary depending on the chosen method and additional verification requirements. FBS strives to process withdrawals promptly to ensure efficient and timely transfers.
FBS Education and Research
Education
FBS offers the following Educational Materials to Ivory Coast traders:
- ✅ Forex Guidebook
- ✅ Tips for Traders
- ✅ Webinars
- ✅ Educational Video Lessons
- ✅ Seminars
- ✅ Glossary
- ✅ FAQ
Research and Trading Tool Comparison
| 🔍Broker | 🥇FBS | 🥈LiteFinance | 🥉easyMarkets |
| 📆Economic Calendar | ✅ Yes | ✅ Yes | ✅ Yes |
| 💻VPS | ✅ Yes | None | None |
| 📌AutoChartist | None | None | None |
| ➡️Trading View | None | None | ✅ Yes |
| 🚨Trading Central | None | None | None |
| 📈Market Analysis | ✅ Yes | ✅ Yes | ✅ Yes |
| 📰News Feed | ✅ Yes | ✅ Yes | ✅ Yes |
| 🖥️Blog | ✅ Yes | ✅ Yes | ✅ Yes |
FBS also offers Ivory Coast traders the following additional Research and Trading Tools:
- ✅ Forex News Feed
- ✅ Daily Market Analysis
- ✅ Forex TV
- ✅ VIP Analytics
- ✅ Economic Calendar
- ✅ Forex Calculators
- ✅ Currency Converter
Pros and Cons FBS Education and Research
| ✅ Pros | ❎ Cons |
| FBS provides some of the best market analysis | FBS requires more sophisticated tools and resources, including AutoChartist, Trading View, and more |
FBS Customer Support
| 📌Customer Support | 🔍FBS Customer Support |
| 🕰️Operating Hours | 24/7 |
| 🗣️Support Languages | English, Portuguese, Indonesian, Malay, Vietnamese, Arabic, Hindi, Chinese, and more |
| 📱Live Chat | ✅ Yes |
| 💻Email Address | ✅ Yes |
| ☎️Telephonic Support | ✅ Yes |
| 💯The overall quality of FBS Support | 4/5 |
Pros and Cons FBS Customer Support
| ✅ Pros | ❎ Cons |
| Traders can access FBS’ customer support around the clock, even on public holidays and weekends | We had to rephrase our questions to support a few times before we could get the information we sought |
FBS VPS Review
FBS offers a VPS (Virtual Private Server) service with various benefits to enhance traders’ trading experience. To qualify for the free VPS server, traders must meet specific conditions, such as depositing and trading the specified number of lots.
Once these requirements are fulfilled, traders can take advantage of the following features and advantages provided by FBS VPS:
- ✅ 24/7 Operation: The VPS server operates continuously, ensuring that your expert advisors can continue executing trades even when you are offline. This allows for uninterrupted trading activities.
- ✅ Power and Connection Protection: FBS VPS safeguards against power outages and internet connection interruptions, providing a reliable and uninterrupted trading environment. Traders can trade with peace of mind, knowing their trades will not be disrupted due to technical issues.
- ✅ Fast and Stable Connection: With FBS VPS, traders can enjoy a fast and stable connection to the trading platform. This enables quick order execution and minimises latency, ensuring timely trade placements and optimal performance.
- ✅ Expert Advisor Installation: The VPS server allows traders to install and run their chosen expert advisors. This empowers traders to automate their trading strategies, execute trades based on predefined parameters, and take advantage of trading opportunities without manual intervention.
FBS VPS provides traders the convenience, reliability, and flexibility to optimise their trading activities by ensuring uninterrupted market access and the ability to automate trading strategies through expert advisors.
FBS Corporate Social Responsibility
FBS is deeply committed to corporate social responsibility, aiming to bring financial freedom to individuals who use their trading services. They actively collaborate with charitable organisations on a global scale to extend assistance to those in need.
As part of their meaningful engagement with traders, FBS conducts the monthly social media campaign “Desires Come True,” allowing traders to share their cherished wishes.
FBS strives to fulfil these wishes, witnessing first-hand the transformative impact and positive changes in people’s lives.
In line with their dedication to social responsibility, FBS organises an annual charity trade promotion, where they double a trader’s deposit and direct earned commissions towards supporting charitable causes.
Overall, in our experience, this collective effort showcases FBS’s commitment to making a positive difference and contributing to the betterment of society.
Social Trading with FBS
FBS facilitates an accessible and user-friendly social trading experience through its innovative platform, the FBS CopyTrade app. This mobile application empowers individuals to invest and potentially generate profits with as little as $1.
The app is readily available for download from Google Play or the Apple App Store, providing a seamless experience with its user-friendly interface and essential investing tools.
A key feature of FBS CopyTrade is its comprehensive trader selection process. The platform provides users with detailed information on each trader, including their Balance, Equity, Account Details, and Info screens.
These metrics enable users to assess a trader’s performance and determine if it aligns with their investment goals. Return Rate and Risk Level charts also provide valuable insights into a trader’s progress, aiding users in making well-informed decisions.
Risk management is prioritised on the FBS CopyTrade platform. The platform incorporates automated software tools such as Stop Loss and Take Profit to mitigate losses and secure profits.
These features allow for the automatic closure of orders at predetermined thresholds, reducing the impact of potential losses and protecting profits. Furthermore, FBS CopyTrade offers a risk-free investment option to beginners.
By granting three opportunities to invest without experiencing any loss, the platform instils confidence and provides a safety net for users. In the event of a loss during these initial attempts, the app guarantees a 100% refund of the loss incurred.
FBS Cashback Rebates Features and Conditions
Ivory Coast traders can expect the following from the FBS cashback rebates offered:
- ✅ Amplify Forex Trading Income: FBS Cashback Rebates is a valuable service for traders looking to boost their earnings in Forex trading.
- ✅ Earn on Each Lot Traded: FBS sets itself apart by allowing traders to earn up to $15 for every lot traded, making it a rewarding opportunity.
- ✅ Cashback on Losing Trades: Unlike other programs, FBS Cashback Rebates grants cashback even on losing trades, providing additional earnings potential.
- ✅ Easy Activation: Traders can activate the Cashback service anytime through their personal area, making it a convenient and accessible option.
- ✅ Unlimited Profit Potential: Traders have unlimited profit potential based on their average monthly trading volume, enabling them to maximise their earnings over time.
- ✅ Real Money Withdrawal: The cashback earned through FBS Cashback Rebates is in real money, allowing traders to withdraw rewards without restrictions or limitations.
- ✅ Hassle-Free Enrolment: By simply checking the “Cashback” option in their personal area settings, traders can effortlessly enjoy the benefits of this additional profit stream.
- ✅ Accurate Earnings Projection: Traders can accurately calculate and project their potential monthly earnings as they earn up to $15 for each traded lot, regardless of the trade outcome.
- ✅ Online Calculator: FBS provides an online calculator that helps traders gauge the financial benefits of participating in the Cashback service, facilitating informed decision-making.
FBS Web Traffic Report
| 🌐Global Rank | 45,023 |
| 🌎Country Rank | 20,372 |
| 📝Category Rank | 167 |
| 🔢Total Visits | 1.3 million |
| 📌Bounce Rate | 51.12% |
| 📖Pages per Visit | 4.14 |
| ⏱️Average Duration of Visit | 00:03:21 |
| 📆Total Visits in the last three months | March – 1.9 million April – 1.4 million May – 1.3 million |
FBS Geographic Reach and Limitations
Most of FBS’s market share is concentrated in these areas:
- ✅ Brazil – 16.41%
- ✅ Indonesia – 8.81%
- ✅ Nigeria – 7.12%
- ✅ Malaysia – 5.86%
- ✅ Qatar – 4.64%
FBS’ Current Expansion Focus
FBS is currently expanding across South America, Asia, and Africa.
Countries not accepted by FBS
FBS does not accept clients from these countries:
- ✅ Japan
- ✅ United States
- ✅ Canada
- ✅ United Kingdom
- ✅ Myanmar
- ✅ Brazil
- ✅ Malaysia
- ✅ Israel
- ✅ Islamic Republic of Iran
Popularity among Ivory Coast traders who choose FBS
FBS is one of the Top 70 forex and CFD brokers globally.
FBS vs LiteFinace vs easyMarkets – A Comparison
| 🔍Broker | 🥇FBS | 🥈LiteFinance | 🥉easyMarkets |
| 🖋️Regulation | IFSC, CySEC, ASIC, FSCA | CySEC | BVI FSC, CySEC, ASIC, FSA |
| 📊Trading Platform | MetaTrader 4 MetaTrader 5 FBS Trader CopyTrade | MetaTrader 4 MetaTrader 5 LiteFinance Social Trading Platform LiteFinance Trading App | easyMarkets Platform MetaTrader 4 MetaTrader 5 TradingView |
| 💵Withdrawal Fee | ✅ Yes | None | None |
| 🗂️Demo Account | ✅ Yes | ✅ Yes | ✅ Yes |
| 💴Min Deposit | 12 XAF | 30,000 XAF | 15,200 XAF |
| 📉Leverage | Up to 1:3000 | 1:500 | 1:2000 |
| 📌Spread | From 0.0 pips | 0.0 pips | 0.5 pips |
| 💷Commissions | From $6 | $0.25 per share on Stock Indices | None, only the spread |
| 🛑Margin Call/Stop-Out | 40%/ 20% | 100%/20% | 70%/30% |
| 🧑⚖️Order Execution | Market | Market | Market |
| 🎁No-Deposit Bonus | ✅ Yes | None | None |
| ✏️Cent Accounts | ✅ Yes | None | None |
| 🚩Account Types | FBS Cent Account FBS Micro Account FBS Standard Account FBS Zero Account FBS ECN Account FBS Crypto Account | ECN Account Classic Account | Web/App VIP Web/App Premium Web/App Standard MT4 VIP MT4 Premium MT4 Standard MT5 |
| 🏦Banking Commission of WAEMU Regulation | None | None | None |
| 🚨XAF Deposits | ✅ Yes | ✅ Yes | ✅ Yes |
| 🛎️XAF Account Offered? | None | None | None |
| 🕰️Customer Service Hours | 24/7 | 24/5 | 24/5 |
| 💡Retail Investor Accounts | 6 | 2 | 7 |
| ☪️Islamic Account | ✅ Yes | ✅ Yes | ✅ Yes |
| ⬇️Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
| ⬆️Maximum Trade Size | 500 lots | 100 lots | 50 lots |
| ⏱️Minimum Withdrawal Time | 15 to 20 minutes (maximum 48 hours) | Instant | Instant |
| ⏰Maximum Estimated Withdrawal Time | Up to 7 days | Up to 5 working days | Up to 5 Days |
| ✔️Instant Deposits and Instant Withdrawals? | Instant Deposits | ✅ Yes | ✅ Yes |
Broker Comparison for a Range of Markets
| 🔍Broker | 🥇FBS | 🥈LiteFinance | 🥉easyMarkets |
| ✴️Forex | ✅ Yes | ✅ Yes | ✅ Yes |
| 💎Precious Metals | ✅ Yes | ✅ Yes | ✅ Yes |
| 💻ETFs | None | None | None |
| 📌CFDs | ✅ Yes | ✅ Yes | ✅ Yes |
| 🛎️Indices | ✅ Yes | ✅ Yes | ✅ Yes |
| 📊Stocks | ✅ Yes | ✅ Yes | ✅ Yes |
| 💰Cryptocurrency | ✅ Yes | ✅ Yes | ✅ Yes |
| ➡️Options | None | None | ✅ Yes |
| 🛢️Energies | ✅ Yes | ✅ Yes | ✅ Yes |
| 🚩Bonds | None | None | None |
FBS Alternatives
- 🥇 Saxo Bank presents an exceptional option for advanced traders and professionals with substantial funds. With extensive research facilities, an API interface, and discounted fees for high-tier accounts, Saxo Bank enhances the potential profitability of accounts. This exclusive multi-asset broker offers a brilliant research experience, a superb trading platform, and an impressive selection of over 60,000 tradeable instruments.
- 🥈 Established in 2008 and a part of Finalto, Markets.com lives up to its name by providing traders access to a wide range of financial markets. Offering a proprietary and user-friendly trading platform called Web Trader, Markets.com also supports MetaTrader 4 and 5. Traders can expect exceptional features and benefits, including remarkably low spreads starting from 0.6 pips.
- 🥉 HFM, a reputable broker with a substantial African following, holds global regulations and provides negative balance protection for all traders. With 53 Forex pairs available for trading, including majors, minors, and exotics, HFM offers a broader selection than most other brokers. Moreover, HFM distinguishes itself by offering four account types, further catering to the diverse needs of traders
FBS Awards and Recognition
FBS has won more than 70 industry awards over the years that it has been providing trading solutions worldwide, including some of the following most recent awards:
- ✅ Foremost Forex Broker in Thailand for the Year 2022.
- ✅ Top-Rated Forex Broker in Thailand in 2021.
- ✅ Premier Trading Broker in South East Asia for 2021, and more.
Recommendations according to our in-depth review of FBS
- ✅ Enhancing their tools and resources: The review suggests that FBS could benefit from more sophisticated tools and resources, including AutoChartist and Trading View.
- ✅ Expanding their range of instruments: Compared to competitors, FBS offers fewer instruments. Increasing the variety could attract more traders.
- ✅ Reducing their fees: FBS charges deposit and withdrawal fees on certain payment methods, which could deter some traders.
- ✅ Removing time limitations on demo accounts: Currently, the demo account has a time limitation of 90 days, which may not be sufficient for all traders.
- ✅ Increasing their geographic reach: FBS does not accept clients from certain countries, including Japan, the United States, Canada, and the United Kingdom. Expanding their services to these regions could increase their market share.
FBS Customer Reviews
🥇 Satisfied Customer!
“I am quite satisfied with FBS as a broker. They offer tight spreads and reliable order execution. The educational resources provided are useful for traders at all levels.” – Henry Adebayo (January 2023)
🥈 Highly Recommended!
“FBS is my go-to broker for forex trading. The platform is user-friendly, and I appreciate the range of trading tools available. Their customer support team is responsive and helpful, addressing my queries promptly. I’ve been consistently satisfied with their fast order execution. Highly recommended!” – Sophia Eze (March 2022)
🥉 User – Friendly!
“While FBS has a user-friendly platform and a wide selection of trading instruments, I have found their spreads higher than some other brokers.” – Issouf Ouattara (September 2022)
Pros and Cons of Trading with FBS
| ✅ Pros | ❎ Cons |
| FBS is regulated by well-known entities in multiple regions, providing assurance and trust to Ivory Coast traders. | FBS offers a limited number of assets, less than 300, which may not fully satisfy the diverse needs of Ivory Coast traders seeking a wider variety. |
| Ivory Coast traders can choose from seven retail account types on FBS, offering flexibility to cater to individual trading needs. | Ivory Coast traders based in the EU may experience limitations, with certain account types not supported and a reduced selection of available assets. |
| Under ideal market conditions, Ivory Coast traders may experience spreads as low as -1 pip on the ECN Account. | Some features, like the demo account, have a time limitation of 90 days for Ivory Coast traders. |
| The Cent account on FBS is particularly suitable for beginners, offering a gradual introduction to trading with minimal risk. | Certain account types, such as the Pro account, require a higher minimum deposit, which may not be suitable for all Ivory Coast traders. |
In Conclusion
According to our research, FBS is a broker that offers a variety of services and tools to its traders. It provides a range of markets, including Forex, Precious Metals, Indices, Energies, Stocks, Exotic Forex, and Cryptocurrencies.
FBS also offers several bonuses and promotions to its traders. Furthermore, FBS provides comprehensive educational material and a detailed FAQ section on their website, which can benefit both beginner and professional traders.
However, it is important to note that FBS is not currently regulated by the Banking Commission of the West African Economic Monetary Union (WAEMU). Still, despite this, FBS is regulated by several reputable market regulators in other countries, including ASIC, CySEC, and the IFSC.
FBS Risk Warning and Disclaimer for Traders: Trading financial products involves inherent risks and may not be suitable for all investors. Price fluctuations in the financial markets can lead to substantial financial losses.
We urge traders to carefully assess their investment goals, level of expertise, and risk tolerance before engaging in any trading activities. Furthermore, Ivory Coast traders must remember that past performance does not indicate future results.
FBS provides educational resources and trading tools for informational purposes only and does not offer financial advice.
Our Review Methodology: For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker.
Based on our findings, this evaluation comprises positives, disadvantages, and an overall score. We want to assist you in locating the ideal broker for your requirements.
Our broker review should not be considered financial advice. However, traders are urged to seek professional financial advice before making investment decisions.
Now it is your turn to participate:
- ✅ Do you have any prior experience with FBS?
- ✅ What was the determining factor in your decision to engage with FBS?
- ✅ Was it because of the minimum deposit, regulation, retail trading accounts, or other factors?
- ✅ Have you experienced issues with FBS, such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?
Regardless, please share your thoughts in the comments below.
Addendum/Disclosure: No matter how diligently we strive to maintain accuracy, the forex market is volatile and may change anytime, even if the information supplied is correct when going live.
Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all investors. Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk.
In addition, you should not start investing capital you cannot afford to lose because you could lose part of your original investment.
Frequently Asked Questions
Is FBS Safe or a Scam?
Yes, FBS is a safe and regulated broker. It is well-regulated by respected authorities like the IFSC, CySEC, and ASIC. FBS also prioritizes the security of client funds by keeping them in segregated accounts and implementing robust security measures.
What markets can I trade with FBS?
With FBS, you can trade Forex, Precious Metals, Indices, Energies, Stocks, Exotic Forex, and Cryptocurrencies.
Does FBS offer any bonuses and promotions?
Yes, FBS offers various bonuses and promotions such as FBS Traders Parties, Get a Car from FBS, Level-up Bonus, 100% Deposit Bonus, Cashback bonus, and more.
Is FBS regulated?
Yes, FBS is a safe and regulated broker. It is well-regulated by respected authorities like the IFSC, CySEC, and ASIC. FBS also prioritises the security of client funds by keeping them in segregated accounts and implementing robust security measures.
How long does it take to withdraw from FBS?
FBS processes withdrawal requests promptly upon receiving them. The time it takes for funds to reflect in your bank account can vary depending on the withdrawal method, ranging from a few minutes to 7 days.
Does FBS charge any deposit fees?
FBS does not charge deposit fees on Bitcoin, Credit cards, Debit Cards, or Sticpay. However, deposits made through Perfect Money could attract commissions.
Does FBS offer any trading tools?
Yes, FBS offers tools such as Forex News Feed, Daily Market Analysis, Forex TV, VIP Analytics, Economic Calendar, Forex Calculators, and Currency Converter.
Does FBS have an inactivity fee?
Yes, FBS charges a $5 inactivity fee if the trading account becomes dormant after 180 days.
Does FBS offer a demo account?
Yes, FBS offers a demo account.
Does FBS have VIX 75?
No, FBS does not offer trading on the VIX 75 index. However, the broker provides leverage of up to 1:33 on 12 other indices, allowing traders to diversify their trading strategies.
Does FBS offer social trading?
Yes, FBS facilitates social trading through its FBS CopyTrade app.
What are the FBS cashback rebates features and conditions?
FBS Cashback Rebates allow traders to earn up to $15 for every lot traded, even on losing trades. The cashback earned is real money, allowing traders to withdraw rewards without restrictions or limitations.
Does FBS have Nasdaq 100?
Yes, FBS offers trading on the Nasdaq 100 index, represented by the symbol NAS100, with competitive spreads starting from 2 pips.
Why should I work through the SA Shares Cashback?
You can expect some of the highest commissions if you work through SA Shares to earn up to 30% Cashback Rebates from Forex Brokers such as FBS.
This is because SA Shares aims to negotiate the most competitive commission rates with brokers such as FBS to ensure you get the most back from your trading activities.
