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FBS is a Horrible broker with horrible spreads. Avoid them at all cost. Trade with them at your own risk

They pay just win .liquidty problem as most brokers even best brokets have liquidty problems what brought us to forex is lack of money so do we mind brokets when they have liduidty problems .i winned two 50$ accounts and withdrawed about 80 $ from them and the 100$ is great but choose mt5 to trade stocks and fullfill thier terms .

Been trading with FBS for nearly 1 year and that is really good experience for me. I specially like Copy Trade service here. When I have no idea to trade, I will follow top traders to open my own trade. Recommended!

Jan 31, 2020 - No Rating Hi
I know Forex since I was 18 and I have been opening accounts in many platforms and brokers before but the speed of fund withdrawal and customer service is holy terrible. So I opened FBS account 5 months ago with 100$ bonus. The rules are strictly hard so I did not win it but really, their platform is something must try. I deposited first 300$ and traded well from then. They have signal telegram channel and good customer service speed. Besides, they have interesting events, newest is event with Barcelona

I like FBS Deposit and withdrawal method by local bank. It help me to get more easy deposit and withdrawal directly from local transfer or ATM transfer. Deposit process so fastest.

Dec 24, 2019 - 5 Stars I have been joined FBS since 2012 andI am really satisfied with them. Fast deposit and withdrawal as specially accept my country local bank. Fast support respond and available many instrument to trade. Really recommended broker for you.

Reply by FBS Official Rep submitted Dec 26, 2019 Thank you, NurFX, for such a warm comment!

FBS answered me via email (the same answer you will find online here). So I replied them on 11/03/2020 with:

Dear Johana,

good evening. I thank you for your answer but I have to clearly say I reject in in any part what you wrote and that I am strongly determinate to make you to change your mind and revert my voided trades. That said, I am going to prepare more evidences but I need a couple of days (gathering data needs time). In the while I need a couple of fundamental information:

You wrote me you "received Off-market quotes from our Liquidity providers": would you be so kind to send me your technical evidences?
You told me that, due to the previous point (received off-market quotes), your liquidity provider refuses to pay my winning trades: please, give evidence of this too;
You also wrote "During such strong volatility in the market, one of our trading servers, namely FBS-Real2 (which is the server that belongs to your account 220321399) experienced the greatest load and, unfortunately, could not cope with it. There were interruptions in the flow of quotes, which were observed at the time I indicated above, 3:45 to 4:00 MT time.": does it mean only "FBS-Real2" was effected of this problem?

Waiting for these documents from you, it's my pleasure to send you my
best regards,
(my name hidden for privacy).


But I got no answer from at all.
So I wrote them again on 13/03/2020 this email:


Dear Sirs,

good afternoon. The day before yesterday I sent you the email below, asking for some info about your Liquidity Providers but you still didn't answer me to this simple email: does it mean you are ignoring me?

I wait for your answer, patiently.

Best regards,
(name hidden for privacy)


And today, 16/03/2020, I still received no news, no email, nothing.

I'll keep in touch with the next update.

May the pips be with you!
/achab

Mar 9, 2020 - 1 Star CLAIM

Dear Sirs,

thanks for your first answer. This is my formal claim to the daily voided trades.
You ask me (as I can read on https://cdn.fbs.com/docs/FBS_agreement_en.pdf) for:
a) Full name;
my name (hidden for privacy)

b) Account number;
99999 (hidden for privacy)

c) Date and time when a dispute situation occurred;
2020/03/09 (today)

d) Ticker of the arguable order;
1139909889
1139909892
SEVERAL HUNDRED NUMBERS TRIMMED

By the way, for avoiding misunderstandings, the attached statement (named "Statement_220321399_2020-03-09.htm") contains the exact tickets numbers about those trades you voided, simply check those that has zero "Profit" and zero "Commission"): this attached file prevails on the list written above here;

e) Claim description.
During the night, at 03:49:24 broker time, my news trading system noticed a big movement on AUDJPYe pair (about 70 pips, a rare event) and it decided to open a sell trade (see the image for explanation):

As you can see, the trade was opened and closed inside the M1 candle and it was closed after 20 seconds.

After a while another sell position was open on EURJPYe and closed after some seconds. Take a look at this trade:

Also here the trade was opened and closed inside the M1 candle and it was closed after few seconds.

Let's go ahead and take one of the most profitable buy trades I got tonight, ticket 1139914591, pair NZDUSDe, 104.7 PIPs, opened 2020/03/09 03:51:03 and closed 2020/03/09 03:51:40, 4.2 lots:

As you can see my strategy bought at the bottom of the candle, trying to catch the rebound, opened and closed on the same M1 candle here too.

The logic of this Trading Strategy is quite always the same, so the other 800 and more trades have been affected of the same big movement as well as the trades have been opened due to these big M1 chart big spikes and I can give you a specific explanation about any trade I made; but it's impossible to do it "within 2 working days since the moment the grounds for a claim appeared", as the point 8.1.1 of your Customer's Agreement states, so I cut here the list of the trades, waiting for you to ask me for more evidences.

Please, also note that the first ticket affected is number 1139909889 and the last is number 1139924207, it means your ECN server had, in this short period of time, 14,318 (fourteen thousand three hundred eighteen) trades and I am sure you didn't delete any trade of everybody, so why only me? Or why me and few others? Why didn't you void 14,318 trades? You wrote you "received Off-market quotes from our Liquidity providers" so any ECN traders had this issue, last night, any inside the range from ticket number 1139909889 and ticket number 1139924207. I only want you to bring evidence on the fact you voided any trade inside these few minutes, about 14 minutes to be accurate, otherwise I won't accept your decision to delete my trades.
What about your Standard account that traded in this specific range of time? Did you void all them too? I have some evidence you didn't delete other trades done by other traders and I can give you them upon request. More, since some time, I am registering the ticks of my account, now very useful to check any problem, like this one; again, if you want I can you send the files, one per pair. This is an example:
Date and time,Bid,Ask,more data, more data
2020.03.03 17:06:25.001,1.11619,1.11608,1075,1075
2020.03.03 17:06:25.063,1.11617,1.11609,1076,1076

From my very first calculations you have voided negative and positive trades but the P/L was largely positive, so I ask you to reinstate any trade you voided and to give me back the gains: rougly $270,000.00.

Due to all these reasons, I formally ask you to reinstate all my trades as said below to get back my roughly $300,000.00 balance.

Last, but not the least, would you prefer I close my account?

Best regards,
my name (hidden for privacy)


On 09/03/2020 15:26, Johana (FBS Support) wrote:
> ##- Please type your reply above this line -##
>
> Dear friend!
> Your request (958245) has been updated. To add a comment, respond to this letter.
>
> Your friends at FBS.
>
> Johana (FBS)
>
> Mar 9, 17:26 +03
> Dear my name (hidden for privacy),
>
> Welcome to FBS once again!
>
> As you know, the value of a country’s currency is affected and influenced by different economic indicators that reflect how a country is performing.
> The macroeconomic events that take place internally and internationally are factors that will have a huge effect on the value of a currency.
>
> Following this logic, at the moment, the market is considerably volatile due to the news related to the downward of the Oil price caused by the global Coronavirus fears, which you can find more information about in the Forex news section of our website:
> https://fbs.com/analytics/news/how-does-the-american-cpi-reflect-the-virus-impact-8237
> https://fbs.com/analytics/news/oil-the-worst-drop-since-gulf-war-8238
> (As a forex trader, you need to be constantly on top of these data in order to be aware of the current situation of the market.)
>
> As a result of these major news, we received Off-market quotes from our Liquidity providers, following our Customer's Agreement rules for such a situation:
>
> 9.5.5. The Company reserves the right to reconsider the provided quotes for any time period if, according to the Company, such quotes fall within the definition of an “Off-market quote”, and/or “Irregular market conditions”, and/or an “Obvious error” defined in the present Agreement and/or in the “Terms and definitions” section, and revise the financial results of the trading operations executed at such quotes.
>
> 10.3. The Client agrees that in the event of force majeure circumstances the Company is entitled (without limiting other Company rights according to the present Agreement) without prior written notification and any time to take any of the following actions:
> e) Reconsider the financial result of all Client trading operations, falling within force majeure circumstances, by changing quotes, opening/closing orders, or total deletion of orders.
>
> It's in this sense that the results (Profit/Loss) of the orders of your trading account 220321399 which were affected by the off-market quotes have been annulled.
> We would like to remind you that, unfortunately, no broker is impervious to an off-market quote matter though it is a rather rare situation. When such a case takes place, our specialists eliminate the consequences of it as fast as it is possible and by elimination, we surely mean not only the removal of profitable orders but lossmaking too.
>
> We're very sorry for the inconvenience this may have caused you and hope for your understanding of the situation.
>
> Thank you for contacting our FBS Support Team, if you have any other questions please contact us again here or in our LIVE chat.
>
> Have a very nice day!
>
> Sincerely,
> FBS Support Team
>
>
>
> Lia (FBS)
>
> Mar 9, 13:16 +03
> Dear my name (hidden for privacy),
>
> Thank you for contacting us.
>
> In case you have any doubts about some of your orders being executed accurately, please, send us an official claim with all the necessary information about your issues. Claims are sent to our e-mail address support@fbs.com only within two working days after the problem has occurred.
>
> The Client's claim should contain the following data:
> - Your full name
> - Your account number
> - Date and time of the dispute situation
> - Ticker (number) of Dispute Order
> - Claim Description
>
> To get more information about the procedure of reviewing the claims, please, read Section 8.1. of the Company's Customer Agreement: https://fbs.com/docs/FBS_agreement_en.pdf
>
> If you have any other questions please contact us again here on in our LIVE chat.
>
> Have a very nice day!
>
> Sincerely,
> Lia​
> FBS Support Team
>
> my name (hidden for privacy)
>
> Mar 9, 13:13 +03
>
> Dear Sirs,
>
> good morning. I noticed you have voided many trades: why?
>
> Best regards,
> my name (hidden for privacy).
> This email is a service from FBS. Delivered by Zendesk | Privacy Policy
> [5LVWMK-EWK4]

Reply by FBS Official Rep submitted Mar 13, 2020 Regarding your situation, I will provide you the explanation, below.

On 09.03.2020 all markets experienced severe shocks due to oil-related news which greatly affected almost all trading instruments and influenced all markets.

(As a reference, you can check the news related, here.)

At the time you indicated, namely, from 3:45 to 4:00 MT time, the market was still very turbulent especially in pairs that involved the JPY currency.

Our company serves a large number of customers (more than 14 million), due to the fact that the MetaTrader 4 version uses a software developed more than 30 years ago, it cannot cope with such a number of clients. Because of this, we use more than one MT4 server so that our clients do not experience any problems while performing their trading, currently, we have 10 MT4 servers on which clients are actively trading.

During such strong volatility in the market, one of our trading servers, namely FBS-Real2 (which is the server that belongs to your account 220321399) experienced the greatest load and, unfortunately, could not cope with it. There were interruptions in the flow of quotes, which were observed at the time I indicated above, 3:45 to 4:00 MT time.

You are correct when mentioning that during these 15 minutes, all clients trading on this server experienced problems. Most of the orders executed at that time were executed at better prices for our customers than they actually were on the market.

We understand that it is in part our fault and the losses incurred from such orders were compensated by ourselves, however, in your case your robot completed 854 transactions in the amount of 5,286.30 lots within these 15 minutes. Each of these transactions was aimed at making a profit due to the fact that the server experienced problems in the flow of quotes. We want to emphasize that in normal times, the activity of your robot is hundreds of times less. Based on this, we decided to cancel your trading operations since they are considered ill-intended, as it appears you have taken advantage of this unusual situation.

We did not subject this procedure to all transactions completed at that time, because, as I wrote above, we decided to compensate for the difference in the price of execution of transactions with us and the price of execution of these transactions in the market at our own expense. In your case, we cannot do this, we are forced to use the established regulations and cancel your orders:

9.5.5. The Company reserves the right to reconsider the provided quotes for any time period if, according to the Company, such quotes fall within the definition of an “Off-market quote”, and/or “Irregular market conditions”, and/or an “Obvious error” defined in the present Agreement and/or in the “Terms and definitions” section, and revise the financial results of the trading operations executed at such quotes.

10.3. The Client agrees that in the event of force majeure circumstances the Company is entitled (without limiting other Company rights according to the present Agreement) without prior written notification and any time to take any of the following actions:

e) Reconsider the financial result of all Client trading operations, falling within force majeure circumstances, by changing quotes, opening/closing orders, or total deletion of orders.

As for the number of affected orders, we are talking only about transactions on ECN accounts such as your account 220321399, and not about all trading operations on this server.

This means that the number of orders is reduced to 4,103 and also the number of clients to 12 accounts.

We could review each of them, and each of these 12 cases would not be in favor of our clients, so the decision for each client was made separately.

Be kindly reminded that it is a world market practice to annul orders handled within off-market quotes time, such practice is widespread due to the fact that order opened or closed with an off-market quote cannot be considered correct.

The loss or profit a client gets for trading on off-market quotes is considered as inaccurate as well. Consequently, the balance of a client is recovered to the level that was before the off-market quotes.

We always try to do our best and take our client's side, we apologize for any inconvenience this situation could cause you.

Nevertheless, our actions are justified in full accordance with the Customer Agreement - in the current situation no orders (profit or loss) can be restored from the time of delayed market prices.

2020.03.05 09:18:35.328 Trades '12221540': order #2110274035 sell 0.01 / 0.01 EURUSD at 1.11321 done in 1735.900 ms

As you can see above, execution speed from 900 to 1800ms, unbelievable in these days, it's like trading in the 90s via phonecall:-)

I have over 1 year used this broker.. i have trusted to the broker at past but im really dissapointed to found ther were many many transactions at my account that i never open. I only using manual trading. At the beggining i used, there were only 1-3 ghost transaction that i never open possition suddently appeared. I thought it was an error. But now there were so many transactions that i never open came either at live account or at demo account.

We are contacting you regarding your FBS account ###6765.
Please kindly note that the system noticed suspicious activity on your account which falls under the regulations of the Customer agreement 3.6.5
According to the company regulations, the debt payment 3982.23 USD for abusing the Balance Fixed option was claimed from your accounts.
Please take a note of the following conditions in the Client agreement.
3.6.5. When after a mandatory position closure the Client account has a negative balance, compensation is
added to the account, which sets the account to zero. However in special cases (when the Company considers
Client’s actions as intentional) the Company reserves the right to claim a debt payment from the Client.
3.6.6. In case the Company has reasons to believe that a Client operates two or more accounts under different
registration data (e.g. opening opposite orders on the same trading instrument that are left open over the weekend
or during the period between trading sessions), FBS reserves the right to deduct the losses exceeding the balance of
one account from the funds of another account belonging to a Client.

If you have any questions, please do not hesitate to ask.
Kind Regards,
Ruby from the FBS customer Support.



Apparently the above email was send to me. FBS is a Scammer PERIOD.
So this is what basically happened! My brother has been using this bloody broker for a while and he introduced me a few weeks ago to the broker. For the first time I was trading with them, I was trading the same session with my brother I lost and he won. The bloody broker sent me an email, not my brother that I have two accounts and I abused the balance fixed option as they mention and they deducted 3982.23 USD in his account, remember we are two different people but with the same surname using two different devices with two different IP Addresses. Well I asked them to provide us with evidence that we were using the same IP Address or device as they claim and they did not. Maybe they do not allow siblings to use the same broker, I don't know!
I'm so disappointed in their unethical behaviour and weak evidence, all they enjoy doing is stealing peoples initial investments and their profits, I don't understand how do they claim to be a regulated broker but do not comply to the FSB regulations.
People be warned, this broker is a bloody scammer. They will never pay you your wins! COWARDS, SCAMMERS, SELLOUTS!

Jun 25, 2018 - 1 Star 100% Verified Scammers!!!

Typical broker trying to defend itself, your reviews are not even convincing and I'm not surprised. Unfortunately people like me normally don't keep quite with issues like this. You're contradicting yourself, how is it possible that you allow hedging but refuse to pay clients who practice hedging? It is very clear that you have a new style of not paying clients who win by stating nonsensical lame excuses of IP ADRESSES that are the same or devices. Please stop telling people that you're a big company because you're not, let me tell you something you don't know, big companies do not refuse to pay peanuts like 3982.23 USD. This issue, I took it very personal and something must be done with you. You're a small spaza shop broker that you can find in every corner of township and your chief objective is to steal money from clients. You're going to experience stagnation until your company is permanently shut down.

BLOODY NONSENSICAL SCAMMERS!!!

Jun 15, 2018 - 1 Star We are contacting you regarding your FBS account #5256765.
Please kindly note that the system noticed suspicious activity on your account which falls under the regulations of the Customer agreement 3.6.5
According to the company regulations, the debt payment 3982.23 USD for abusing the Balance Fixed option was claimed from your accounts.
Please take a note of the following conditions in the Client agreement.
3.6.5. When after a mandatory position closure the Client account has a negative balance, compensation is
added to the account, which sets the account to zero. However in special cases (when the Company considers
Client’s actions as intentional) the Company reserves the right to claim a debt payment from the Client.
3.6.6. In case the Company has reasons to believe that a Client operates two or more accounts under different
registration data (e.g. opening opposite orders on the same trading instrument that are left open over the weekend
or during the period between trading sessions), FBS reserves the right to deduct the losses exceeding the balance of
one account from the funds of another account belonging to a Client.
The full text of the Client agreement can be found here:
English https://fbs.com/docs/agreement_en.pdf
If you have any questions, please do not hesitate to ask.
Kind Regards,
Ruby from the FBS customer Support.

Apparently the above email was send to me. FBS is a Scammer PERIOD.

So this is what basically happened! My brother has been using this bloody broker for a while and he introduced me a few weeks ago to the broker. For the first time I was trading with them, I was trading the same session with my brother I lost and he won. The bloody broker sent me an email, not my brother that I have two accounts and I abused the balance fixed option as they mention and they deducted 3982.23 USD in his account, remember we are two different people but with the same surname using two different devices with two different IP Addresses. Well I asked them to provide us with evidence that we were using the same IP Address or device as they claim and they did not. Maybe they do not allow siblings to use the same broker, I don't know!

I'm so disappointed in their unethical behaviour and weak evidence, all they enjoy doing is stealing peoples initial investments and their profits, I don't understand how do they claim to be a regulated broker but do not comply to the FSB regulations.

People be warned, this broker is a bloody scammer. They will never pay you your wins! COWARDS, SCAMMERS, SELLOUTS!

Reply by FBS Official Rep submitted Jun 18, 2018 Dear TumeloSflag



We would like to clarify the whole situation here.

First and foremost, please, kindly be notified that FBS company has acted strictly according to the Customer Agreement, which we would like to prove in the following reply.



As a big broker FBS company always takes into consideration clients’ wishes. Thus, for example, we do not prohibit hedging and in most cases fix our clients’ balances up to zero if they become negative. Unfortunately, some clients consider this as the possibility for fraudulent trading schemes.



As the client has stated he and his brother operated with two accounts in different Personal Areas, on which they used hedging trading strategy. This strategy is allowed, since most of the experienced traders use it in order to reduce the risks. Though in this case the clients opened unreasonably risky hedged orders with high leverage and big order volume (27 standard lots), which were opened and closed at the same time. More than that, it was stated by the Security Department that exactly these orders have been opened from one and the same IP-address. Thus, the clients abused Balance Fixed condition and, therefore, the Company considered clients’ actions as intentional.



Here are the examples of the bespoken orders:

Account 5256765, order 1747931579 (lot volume 27), loss, balance fixed (3982.23$), opening time - 06.06.2018 4:29, closing time - 06.06.2018 4:30.



Account 6669219, order 849129230 (lot volume 27), profit, opening time - 06.06.2018 4:29, closing time - 06.06.2018 4:30.

In a case like this, when it is obvious, that a client intentionally abuses Balance Fixed condition, according to the Customer Agreement the Company reserves the right to claim the debt payment from the Client (p.3.6.5., p.3.6.6.). This is exactly what has happened in client’s case: on 06.06.2018 4:30, when the client’s order 1747931579 on 5256765 account has been closed by Stop Out with the negative profit -6210$, the client’s balance has been fixed by the Company’s funds in amount of 3982.23$ and the funds were deducted from 6669219 account in amount of 3982.23$.



We hope this clarifies the issue, please let us know if there is anything else we may assist you with. Thank you.

Reply by FBS Official Rep submitted Jun 27, 2018 Dear Sir!



Kindly let us disagree regarding your statement that we do not allow clients to use hedging strategy.



As it is stated in the Customer Agreement:

3.6.6. In case the Company has reasons to believe that a Client operates two or more accounts under different registration data (e.g. opening opposite orders on the same trading instrument that are left open over the weekend or during the period between trading sessions), FBS reserves the right to deduct the losses exceeding the balance of one account from the funds of another account belonging to a Client.



In other words, hedging strategy is allowed, when a client operates in one Personal Area. Though, our Security Department has grounds to believe that in this case, unfortunately, the Balance Fix option has been abused intentionally, since an unreasonably risky trading strategy was used. One more fact proving this point is that both orders were opened with big order volume right at the moment of the news release which had been expected to have great influence on the Market, when the Market situation is the most unstable, which in its turn increased risks.



This news can be viewed on our web-site - https://fbs.com/analytics/calendar?calendarPeriod=06.06.2018%2C06.06.2018&CalendarSearch%5Bimpacts%5D%5B%5D=high



The movement of the price at that time period demonstrates this impact: https://prnt.sc/jzwlva



Hope we have managed to clarify our point.

Feb20 2020, at around 5m, i was trading gold, i have a balance of 1278 and an equity of 1154.as i checked my account, i am having a -124usd floating trade. I noticed that my margin level is only 94% and free margin of -68..i have a leverage of 1:2000, and still got equity to supposedly put more trades but i was declined..i explain3d everything to the customer support, but they keep saying my account is running normally. I know there is something wrong, but they keep ignoring what i am pointing out.

So far, I am quite comfortable trading with FBS. Since 3 years ago I joined here, I did not find many obstacles. A light deposit is very easy for me to be able to trade with small capital. Trading does not have to be with large capital. Moreover, I'm still new in the forex world so I still need a lot to learn. And FBS also provides educational material that helps me to learn trading so that I can increase my trading capital along with my increasing ability.