FBS Official Rep
From my point of view, publicly warning traders about what appears to be a very bad deal is not throwing dirt or negativity. It's clarifying what some clients don't understand so they can stay with your company and pay lower fees. They will see "insure your money". I doubt even one of the people who uses this on a regular basis sat down with a calculator and determined that the best which could be hoped for was to pay a minimum of $120 for every $100 of potential benefit.
Again you skip answering my questions. Is this because you won't or because you can't?
Explain how this insurance suits the needs of anyone other than FBS. Under "perfect" circumstances, the client pays $120 and gets exactly $100. Under imperfect circumstances, the client could wipe out the account before reaching the minimum trade volume and be eligible to collect nothing. Or, the client could continue to pay extra trading fees above $120 without ever qualifying for the $100. What possible benefit can this provide to a client?
Explain why you won't even comment on my far more generous offer to you. I'll even be more flexible with the terms to meet your needs. If you like, I'll change it to any amount, as long as the premium is 10% above the maximum payout. If you like, you can pay in small installments and the policy will immediately apply to the part you've already paid for, again with payments collected to date being 10% above the maximum payout. Do you see any way in which the deal I'm offering you is inferior to the deal you are offering your own clients? If so, please explain. Do you see anything wrong with the insurance deal I'm offering you? If so, please explain.
I think it is wonderful that you take such care in traders just as we do at FBS – in this respect we are indeed likeminded.
We created this promotion with the aim to provide clients with the opportunity to insure and save their funds while trading.
The choice is always left up to the trader. We simply provide the opportunity – and if a client feels that the promotion will benefit them, it is there for their disposal.
All traders are different and use different trading strategies. Deposit insurance provides clients with the opportunity to return the insured amount in full or partly in case of un-expected losses.
As an example, some traders take the approach of riskier trading, such as trading on news. Traders who take huge risks – may not be as concerned about a 1 pip increase as other traders, and benefit with deposit insurance by returning their funds in case of losses.
Traders that connect this promotion, understand that there is an amount of lots that needs to be traded and are ok with this condition, because, ultimately, they are investing in something that they feel will benefit them in the future. I would like to state once more, to all readers, that it is important to always read the full list of promotional details prior to participating in the promotion - If you have any questions about the conditions, our customer support is happy to explain and answer your questions 24 hours a day 5 days a week.
Another good point to note, is that cash-back and partner commission continues to be paid out on insured accounts, because we work for the benefit of our clients.
FBS has tight spreads, and even with a one pip increase, the spreads are beneficial and well to work with for traders.
I thank you and value your opinion Pharaoh, but please try not to make hasty judgement only on their behalf. There is no need in searching for the downsides, where there are non – because we are on the side of out traders.
Please let me know if you have any further question, I will be happy to answer them.