FBS review
FBS is cheap to start and supports FNB deposits in South Africa, but Africans trade with its Belize entity, it has one live account type, and its copy-trading app closed in 2022. Offshore leverage up to 1:3000 is a serious risk.
#8 of 10
Score breakdown
Calculated automatically from the facts on this page. How we score.
Pros and cons
What we like
- Low entry
- FNB deposits in South Africa
- 24/7 support
Watch out for
- Offshore entity for Africans
- Extreme 1:3000 leverage
- Only one live account type
- No copy trading
Licences — verify them yourself
| Regulator | Entity | Licence | |
|---|---|---|---|
| FSC Belize | FBS Markets Inc (serves Africa) | See register | Verify on register ↗ |
| CySEC Cyprus | Tradestone Ltd (FBS EU) | 331/17 | Verify on register ↗ |
| ASIC Australia | FBS (Australia) | See register | Verify on register ↗ |
Search the entity name or licence number on the regulator's own site. If they don't match exactly, don't deposit.
Accounts and costs
| Account | Min deposit | EUR/USD spread | Commission |
|---|---|---|---|
| Standard | $15 | From 0.7 pips | None |
| Islamic | $15 | From 0.7 pips | None |
One Standard account (plus Islamic) on MT4, MT5 and the FBS app.
Deposits and withdrawals
- Payment methods
- FNB (South Africa) · Visa / Mastercard · Skrill · Neteller · Sticpay
- Withdrawals
- Varies by method
- Deposit currencies
- USD, EUR
- African-currency accounts
- None
Platforms and markets
- Platforms
- MT4, MT5, FBS app
- Execution
- Market execution
- Instruments
- 550+ — FX, metals, indices, stocks, energies
- Currency pairs
- 35+ currency pairs
- Copy trading
- No
- Islamic accounts
- Yes
Support
24/7 · chat, phone, email
FAQ
Is FBS regulated in South Africa?
No. FBS has no FSCA licence, so South Africans are served by an offshore entity with weaker protection.
Is FBS regulated in Kenya?
No. FBS is not on the CMA's list of licensed online forex brokers.
Is FBS regulated in Nigeria?
No broker is licensed for online forex by SEC Nigeria yet. The SEC published draft rules in September 2026; until they take effect, Nigerians trade with offshore entities.
What is the minimum deposit at FBS?
$5 (Standard needs $15). Payment methods can set their own minimums.
Can I deposit with M-Pesa?
Not that we could confirm. Supported methods: FNB (South Africa), Visa / Mastercard, Skrill, Neteller, Sticpay.
Which platforms does FBS offer?
MT4, MT5, FBS app.
How is the 5.8/10 score calculated?
From five weighted factors — regulation 30%, costs 20%, funding in Africa 20%, platforms 15%, support 15% — applied to the facts on this page. See "How we score" on our About page.
Sources: TradingFinder ↗ · Last checked Oct 2026