RCPro Review Is RCPro.com a Scam or Legit Broker

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RCPro Review – is it scam or safe?

RCPro is a forex and CFD broker, offering over 20 currency pairs and other trading instruments with a choice of four account types, including an Islamic account, on the MetaTrader4 platform. Unfortunately the broker does not have a license so if you are thinking about investing with them be sure to read this review first.

Account type Min. deposit Max. leverage Spread s
Classic Account $500 1:200 n/a
Silver Account $2 500 1:200 n/a
Gold Account $10 000 1:200 n/a
Islamic Account n/a 1:200 n/a

RCPro Advantages:

Leverage as high as 1:200

Since the European Securities and Markets Authority (ESMA) caped the maximum leverage allowed with forex and CFD trade on the European market at 1:30 in early August, higher leverage become some what exotic.

Leverage of up to 1:200 as offered by RCPro is perfectly enough to accommodate even the most aggressive trading strategies. And yet, higher leverage should be used with caution as it is also associated with an exponentially growing risk of loosing your funds, when the market swings in the wrong direction.

This is also a good news. MetaTrader4 is probably the most renowned trading platform, used by more than 80% of all traders globally. It has light and intuitive interface, excellent charting package, more than 50 in-build market indicators and is able to support automated trading sessions with the help of customizable trading robots or Expert Advisors. Besides, here you may check our list of brokers, also supporting the MetaTrader4:

This is our main issue with RCPro – the broker is owned and operated by GoldTech Media Services OU – a company based in Estonia, but not authorized or regulated by any of the official financial watchdogs in the European Union. Actually the broker is not regulated anywhere and simply does not have a license to provide financial services. This is a major setback as trading with unregulated brokers is associated with a significant risk of loosing your money to scammers.

Brokers, regulated by well respected authorities, such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the National Futures Association in the US or the Cyprus Securities and Exchange Commission (CySEC) are obliged to follow strict fiscal and ethical rules, among which to keep all clients money in a segregated, protected from creditors account, to maintain a certain level of operational capital, to file regular reports, to allow external audits and in certain cases even to insure traders capital.

Thus with CySEC regulated brokers traders are entitled to a compensation of up to 20 000 EUR, if their broker files for bankruptcy. Similarly, traders with FCA regulated brokers can receive back up to 50 000 GBP of their trading capital. Besides, here you may check our list of FCA regulated brokers:

As we already discussed our main concern with RCPro is that the broker is not regulated and basically, if you choose to invest with them the safety of your money will depend solely on the integrity of the people behind the broker. So our best advise is to deal with properly regulated companies only.

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

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FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

RC Pro review – 5 things you should know about Rcpro.com

Beware! RC Pro is an offshore broker! Your investment may be at risk.

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

RC Pro is a forex brokerage based in Estonia. Potential clients are provided with a MetaTrader4 trading platform and a diverse range of trading products. The required minimum deposit is $500 which is twice the industry average and clients are further extended a generous leverage of 1:200.

RC Pro regulation & safety of funds

The brokerage is owned and operated by the company GoldTech Media Services OU with a contact address in Estonia. After checking with the online registries of the relevant European financial regulators – we can conclude that the brokerage does not fall under the oversight of any of them. The clear lack of regulation inclines us to state that potential clients of the broker are open to a number of risks, and we further suggest to only trade with legitimate brokerages which fall under the oversight of credible regulatory bodies.

Credible regulatory agencies, such as the UK’s FCA and CySec, require compliance with a number of strict rules that give significant assurance for the security of the clients funds.

The segregation of accounts is among the rules which are especially important in the trading world, because it drastically lowers the risk of possible commingling.

Another is the participation in a compensatory scheme by which the client’s losses will be covered in the unlikely case the broker goes bankrupt or attempts to swindle traders.

RC Pro deposit/withdrawal methods and fees

Potential clients of the brokerage have a wide range of payment methods before them. They may deposit or withdraw via Visa, MasterCard, Bitcoin, Skrill, Neteller, wire transfer and WebMoney. Usually with unregulated brokerages we come across nasty withdrawal conditions on their websites and RC Pro is no exception. We read that there is a minimum withdrawal amount of 50 account units for credit/debit cards and 100 account units for wire transfer. This does not correspond with the legitimate way of doing business in forex, because it’s an iron-clad rule among credible brokerages that the clients funds are his to dispose with as he sees fit. Putting barriers on his way is typical for scammers and RC Pro is doing simply that.

We must also emphasize that traders should not trust at face-value brokerages, especially those lacking credible regulation. They must first make sure not to invest more than the minimum required of them, so that they don’t lose a larger-than-necessary sum if the broker turns out to be a scam. Furthermore, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Scammers will usually have such hidden.

How does the scam work?

Besides judging the brokerage beforehand through the info given on its website, it may also be in the favor of traders to be knowledgeable about the most common way a scam would unfold. Here is a description of the typical three steps:

A click-bait ad about fast money will take you to a website like Bitcoin Blueprint or Bitcoin Millionaire Pro where registration will require you to give your address, email and phone number. Calls from broker will follow, telling you to invest with them and reap huge profits. After a few minutes on the phone with them, you decide to deposit some $200-250. Little do you know that from that initial deposit the broker on the phone takes a nice fat piece as commission.

The scam, however, continues and what follows is called the “retention”. Senior scammers will now begin addressing you on the phone and explaining all the advantages in further investing with them. After you decide to go for it, you may even win on a few trades and go up by, say, a couple thousand. Naturally, you will begin wanting to close the account and take away your profits.

Closing the account will prove to be a difficult task. The “recovery department” will take you and yet another representative will have some other trading opportunities to share with you. He will attempt to stall you in order not to file a chargeback with your bank right away. That possibility forever closes when six months pass after the initial deposit with the broker.

What to do if scammed?

Unfortunately, much of the forex trading world is overshadowed by the huge numbers of scammers. All a trader may do is be well-informed and, in case he is the subject of a fraud – stay calm and not panic! The chance for panic is greatly reduced if such a situation does not take you by surprise. Here are the available options for scammed traders:

You may contact your bank or credit card provider and file a chargeback, but only within six months of the initial deposit, as was noted above.

If however you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should change it asap!

So-called “recovery agencies” should not be trusted! Such agencies target scammed and vulnerable traders in an attempt to further swindle them into giving away their money. They will require from you an “up-front payment” in order to get your money back, but no such thing will happen!

RCPro

  • Company GoldTech Media Services OU
  • Founded in 2020
  • Offices in
  • CashU
  • Credit/debit cards
  • Neteller
  • Skrill
  • WebMoney
  • Wire transfer
  • United States dollar
  • Arabic
  • English
  • Email
  • Forum
  • Live chat
  • Phone
  • Web form

Account Types:

  • Pending orders
  • Mobile trading
  • Minimum account size $10,000
  • Minimum position size 0.01 lot
  • Spread type Fixed
  • Spread on EUR/USD, pips 3.2
  • Trading instruments
  • Forex 1:200
  • Gold & silver 1:200
  • Stocks 1:50
  • Indexes 1:50
  • Soft commodities 1:50
  • Metals 1:50
  • Bonds 1:50
  • MT4-ECN
  • MT4 Web Trader (XOGEE)
  • MT4 Mobile (XOGEE)
  • Trailing stop
  • Pending orders
  • One-click trading
  • Mobile trading
  • Automated trading
  • Minimum account size $2,500
  • Minimum position size 0.01 lot
  • Spread type Fixed
  • Spread on EUR/USD, pips 3.2
  • Trading instruments
  • Forex 1:200
  • Gold & silver 1:200
  • Stocks 1:50
  • Indexes 1:50
  • Soft commodities 1:50
  • Metals 1:50
  • Bonds 1:50
  • MetaTrader 4
  • Trailing stop
  • Pending orders
  • One-click trading
  • Mobile trading
  • Automated trading
  • Minimum account size $500
  • Minimum position size 0.01 lot
  • Spread type Fixed
  • Spread on EUR/USD, pips 3.2
  • Trading instruments
  • Forex 1:200
  • Stocks 1:50
  • Indexes 1:50
  • Soft commodities 1:50
  • Metals 1:50
  • Bonds 1:50
  • MetaTrader 4

Reviews

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RCPro Review

RCPro was founded in 2020 and is based in Estonia. Their vision is to build a new generation of professional traders through training and education. They try to offer a high-quality service in terms of trading environment and platforms as well as a lightning-fast support team. In this review, we will be looking at what is on offer to see if they live up to their vision.

Account Types

There are four different accounts on offer, the Classic, Silver, Gold and Islamic accounts, let’s take a look at what each of them offers.

Classics Account: The classic account is the entry-level account, it has a minimum deposit requirement of $500, and this account uses the MetaTrader 4 platform, it has forex, metals, equities, indices bonds and commodities available to trade. The account currency must be in USD and there is no added commission on the account. The margin call level is 150% and the maximum trade size is 50 lots. A few additional features include an account manager with a professional degree in economics, a plethora of materials that help you understand trading, free tutorial trading sessions consisting of 3 lessons, the trading platform is compatible with a mobile phone and, daily recommendations from your account manager

Silver Account: The silver account requires an increased deposit amount of $2,500 and also uses the MetaTrader 4 trading platform it has forex, metals, equities, indices bonds and commodities available to trade. The account currency must be in USD and there is no added commission on the account. The margin call level is 150% and the maximum trade size is 50 lots. The following features are also available for this account: Account manager with a professional degree in economics, a plethora of materials that help you understand trading, free tutorial trading sessions consisting of 5 lessons, daily recommendations from your account manager and, a trading platform is compatible with mobile phone.

Gold Account: The gold account increases the minimum deposit further up to $10,000, the account also uses MetaTrader 4 but now there are fewer assets to trade with only forex, metals, indices, and commodities being available. The account currency must be in USD and there is no added commission on the account. The margin call level is 150% and the maximum trade size is 50 lots. A few additional features include an account manager with a professional degree in economics, more advanced materials that are designed for you to learn the most advanced strategies, free tutorial trading sessions consisting of 7 lessons, free access to all sorts of video tutorials, daily review by your market analyst, daily recommendations from your account manager and, a trading platform is compatible with mobile phone

Islamic Account: The Islamic account is for people who can not pay or receive interest in holding trades overnight, also known as a swap-free account. The account comes with the following features: Buying and selling occur immediately and there is no postponement clause, all currencies are properly documented between the buyer and the seller, the deal must be paid for in full without any delay if there are any usurious rates the contract is invalid.

Platforms

RCPro uses MetaTrader 4 as their sole trading platform, if there is only one platform available then there could be a lot worse ones than MT4.

MetaTrader 4 (MT4) is one of the world’s most popular trading platforms and for good reason. Released in 2005 by MetaQuotes Software, it has been around a while, it is stable customizable and full of features to help with your trading and analysis. MT4 is compatible with hundreds and thousands of different indicators, expert advisors, signal providers and more. Millions of people use MT4 for its interactive charts, multiple timeframes, one-click trading, trade copying and more. In terms of accessibility, MT4 is second to none, available as a desktop download, an app for Android and iOS devices and as a WebTrader where you can trade from within your internet browser. MetaTrader 4 is a great trading solution to have.

Leverage

The maximum leverage available depends on the instrument that you are trading, we have set out a simple list below detailing the maximum leverage available by asset type.

Forex Majors: 1:200
Forex Crosses: 1:200
Indices: 1:100
Metals: 1:200
USA Shares: 1:20
Commodities: 1:100
Energy Futures: 1:100
Europe Shares: 1:20

Trade Sizes

Trade sizes for all instruments start at 0.10 lots (also known as mini lots). There is no indication as to what the increment size is for trades so we can not tell you if the next trade size would be 0.11 lots or 0.20 lots. The maximum trade size is 50 lots which is a good amount as any higher and it becomes harder for the markets and liquidity providers to execute the trades quickly and without any slippage.

Trading Costs

There are no commissions added to any of the accounts as they all use a spread based system which we will look at later in this review. There are swap charges on all accounts except for the Islamic account, these are charged for holding trades overnight and can be both positive or negative. The swap charges can be viewed directly within the trading platform.

Assets

Assets are broken down into various categories including Forex Majors, Forex Crosses, Indices, Metals, USA Shares, Commodities, Energy Futures and, Europe Shares. Selections of available assets include EUR/USD, NZD/USD, CAD/JPY, EURCHF, NASDAQ, S&P 500, Gold, Silver, Apple Shares, Google Shares, Corn, Coffee, Natural Gas, Brent Crude Oil, BMW and, FIAT.

Spreads

Spreads are dependant on a number of different things, for example, the asset that you trade will have a different natural starting spread, if we look at EUR/USD, it has a starting spread of 3.2 pips while CAD/JPY has a starting spread of 4.9 pips. It should also be noted that these spreads re variable (also known as floating) so when the markets are volatile, the spreads will be higher due to movement in the markets. The stated numbers are the starting spreads and they will often be seen higher.

Minimum Deposit

The minimum amount required to open an account is $500 which gets you the classic account, if you wanted a different account then you would need a deposit of $2,500 or $10,000. Often when you open an account, any further deposits requirements are reduced for top-ups but there is no indication as to whether this happens with RCPro or not.

Deposit Methods & Costs

There isn’t a whole lot of information on deposits, the information that is available is pretty basic but gives us an idea of available methods. You can currently use Credit / Debit cards, both Visa and MasterCard, you can also use Bank Wire Transfer and E-wallets, however, which e-wallets are not indicated on the website. RCPro does not charge any fees on deposits, however, it is important to check with your processor to see if they add any fees of their own.

Withdrawal Methods & Costs

You can use the same methods to withdraw as you did to deposit, you must withdraw to the same method used. You may be asked to provide additional documentation when requesting a withdrawal which is a shame to see, as the broker is making it easy to deposit and hard to withdraw, a practice we never like to see. There is no mention of any fees or the lack of them.

Withdrawal Processing & Wait Time

Withdrawals requests at RCPro will take up to 24 business hours to process, once this process is complete the amount of time it takes will depend on the method used, most e-wallets will receive funds within 30 minutes, others such as bank transfer can take up to 7 days to be available in your account.

Bonuses & Promotions

The only bonus mentioned on the RCPro website is regarding a cashback program. The amount of cashback that you get depends on the balance of your account. You can receive up to $10 per lot traded as cashback each time you trade. The cashback is paid as cash and the funds can be withdrawn if desired. There does not seem to be any other bonuses or promotions active at this time.

Educational & Trading Tools

In terms of trading tools, there is the basic economic calendar that tells you of any upcoming news events and which markets they will affect. Then for education, there is a section based around trading strategies however it is very basic and does not go into much detail about any of them. There is a trade copying service, however, there are no examples of them so we can not comment on the accuracy or profitability of them.

Customer Service

The contact us page offers a way to get in touch with RCPro should you have any queries or concerns. There is the standard online submission form that you can fill in and should then expect a reply via email. There is also an email address available to use directly along with phone numbers and physical addresses. The site does not state the opening hours but we would assume that they will be closed over the weekends when the markets are also closed.

Demo Account

Looking around the site we could not locate any information about demo accounts so it appears there may not be any. Potential new clients like to use demo accounts to test out the servers and trading conditions offered, current clients like demo accounts as a way to test out new trading strategies without risking their own capital. It would be a big boost to RCPro if they make demo accounts available to their current and potential new clients.

Countries Accepted

There isn’t a statement or any information regarding who can or can not use the service if you would like to find out if you are eligible for an account or not we would recommend getting in contact with the customer service team.

Conclusion

RCPro gives their vision as a broker wanting to offer competitive environments however their trading conditions are far from competitive, the spreads are very high giving quite a large costs, despite there being no commission it is an expensive broker to use. There are enough instruments to give you things to trade but it would have been nice to see more variety. The promotion looks good but the lack of demo accounts along with the other information provided can make it hard to recommend them as a broker to sue at this point in time.

We hope you like this RCPro review. If you did, please be sure to check out some other reviews here at Forex Academy to help you find the broker that is right for you.

Honest FBS Forex Broker Review 2020

Table of Contents

Review: Regulation: Spreads: Forex Pairs:
(4.5 / 5) IFSC, CySEC Starting – 1.0 Pips 50+

You are looking for experiences with Forex Online Broker FBS Markets Inc.? – Then you are exactly right on this page. As traders with more than 7 years of experience in the financial markets, we have examined the provider and share in the following texts and summaries my experience and the results of the test report. Is it really worth to invest your money with FBS? – Find it out in my trusted broker review.

The official homepage of FBS Forex Broker

What is FBS? – Forex Broker presented

FBS Markets is an Online Forex Trading Broker and for Contracts for Difference (CFDs), founded in 2009. Since 2009, the company has grown significantly and can boast over 2.5 million active merchants in 2020. The broker is internationally active and also possesses the necessary licenses through the IFSC and CySec (Europe).

International clients are accepted by this company. In addition, the FBS got international branches with customer support in more than 20 languages. The biggest customer base is in Asia. FBS is very well-known through live events and charity for poor people. The broker is specialized for Forex Trading, which you can see on the broker’s homepage. FBS tries to give its clients the best conditions for trading currencies. With this broker, you can start trading by any amount of money because the minimum deposit is only 1$.

Facts about the company:

  • Founded in 2009
  • International broker
  • Specialized on Forex Trading
  • More than 2.5 million traders and active partners
  • Charity and sponsor program
  • Interesting bonus programs
  • Main customer base is in Asia

(Risk warning: Your capital is at risk)

Regulation and safety of customer funds

When it comes to trade with real money an official regulation of a broker is very important. There are some scam brokers which act without a real regulation to do fraud on the customer’s money. To avoid these practices always look after the regulation of the broker before you start investing real money.

FBS is regulated by the IFSC in Belize and the CySEC in Europe (Cyprus). The registration number of Belize regulation is 119717 and the license is IFSC/60/230/TS/18. This is an official regulation where the companies headquarters is. You can check it by yourself. The broker only gets this regulation by acting as a serious Forex Broker. In addition, FBS uses only regulated payment methods for the customer’s transactions. This is also a very important point. In conclusion, it seems to me that FBS is a reliable broker for online trading. It is a regulated company so fraud cannot happen in our opinion.

Regulation:

  • Regulated by the IFSC in Belize
  • Regulated by the CySEC in Cyprus (Europe)
  • Only regulated payment methods

Broker awards of FBS

What are the conditions for trades at FBS Forex Broker?

We looked closely at the conditions for traders. At first glance, the provider makes a very good impression on us because he offers many different account models. You can, therefore, adjust your account to the deposit capital and the trading style. The minimum deposit is only 1$ and you have the chance to get a free bonus for your capital.

The spreads depend on the account type and start at -1.0 pips. An account with low spreads usually incurs one commission per lot traded. Overall, you are always cheaper with a commission account in the markets. Again, there is a plus for me. You can try the platform with a free demo account. There are 3 types of different platforms of the broker which we will review later.

FBS Markets specializes in Forex Trading. This is also noticeable in the selection of tradable assets. There are many currency pairs available, but the choice of CFDs is rather low. As we recognized the broker tries to increase his offer of tradeable markets. American Stocks are added to the portfolio in the past.

Facts of the conditions:

  • Trade Forex, Stocks, and Commodities
  • Different account types for any trading style
  • 3 different platforms for any device
  • Start with only 1$ deposit
  • Low spreads
  • Bonus Program

The best conditions for traders

High leverage and negative balance protection for FBS Traders

In the FBS platform traders can choose different leverage for their accounts. It is possible to get huge leverage of maximum 1:3000. In our opionion, it is not useful to use such high leverage but some strategies require it. Sometimes high leverage is very risky, especially if you trade the market news. Some traders fear a negative balance.

FBS offers negative balance protection for its clients. If you make a huge loss you will get stopped out before your balance will be negative. In conclusion, you can trade very safety with FBS even with the high leverage of 1:3000.

(Risk warning: Your capital is at risk)

Review of the FBS Trading Platform

Which trading platforms are offered by FBS? – The broker offers the classic and popular trading platform Metatrader in version 4/5 and also a Web Trader. The MetaTrader software has been widely known among private traders for many years. It belongs, so to speak, to every successful dealer in the equipment.

With the MetaTrader, you can try out and adopt different strategies. The software offers almost unlimited options. It is available for the smartphone, tablet, browser, and desktop.

Even we have gained good experience with the MetaTrader. Almost every big broker offers this software. After a short introductory phase, it is easy to use. FBS helps its clients with video tutorials and coaching to understand how to trade successfully. In the following section, we will show you some facts about the platform.

The MetaTrader is available for any device

Professional charting and analysis

The MetaTrader offers a huge range of tools for a professional analysis. Choose between different chart types and develop a successful strategy. You can use free indicators on the platform. It is very easy to configure them. In addition, it is possible to download extern tools and integrate them into the software.

For technical analyses, there are drawing tools to analyze the chart. Furthermore, FBS offers everyday new analysis and trading ideas to its clients. Each tool is personally customizable for any strategy. Another big advantage of the software is automatic trading. It is possible to create an automatic system that is running 24/7. The MetaTrader supports VPS Server for a little amount of money per month. In conclusion, MetaTrader offers all that you need for successful trading.

Facts about the platform:

  • Available for any device
  • Free indicators
  • A huge range of technical tools
  • Automatic trading possible
  • Customizable and user-friendly
  • Mobile Trading

How to open your account with FBS

To open an account with FBS is very easy and uncomplicated. The broker only needs some information about your identity to start trading. You can open your real trading account in less than 60 seconds. Start with your email address and a safety keyword.

Open your real account

Free and unlimited Demo Account

We recommend for beginners who want to try this broker to open a demo account. This is an account with virtual money. You can trade without risk. It is like trading with real money. The demo account is the best way to practice and develop a strategy for beginners. Also, advanced traders can try new markets or methods with it. FBS offers a free and unlimited demo account.

Which account type should I choose with FBS?

FBS offers different account types for forex trading. Each account is for a special purpose. The broker tries to give a trader the best conditions for his capital. There is the opportunity to trade with 1$ or less risk in each trade with the cent account. If you deposit more than 1$ you can get better conditions and lower spreads. In the following section, we will explain the different account models of FBS.

This table will present you the different facts about the account types:

Standard Cent Micro Zero Spread ECN
Minimum Deposit: 100$ 1$ 5$ 500$ 1000$
Spread: 0.5 Pip 1 Pip Fixed 3 Pip Fixed 0 Pip – 1 Pip
Leverage: Max. 1:3000 Max. 1:1000 Max. 1:3000 Max. 1:3000 Max. 1:500
This account is for: Normal traders with average deposit of 100$ Mini account for traders with small deposits Traders who want to have a fix spread Lower fees but higher deposit required The best conditions for large traders

As you see above in the table FBS offers a different account for different deposit amounts. You can say that if you deposit more money with FBS you get better conditions and lower spreads. On the other hand, it is a huge advantage that they offer accounts for traders with a very small deposit. The contracts are special in the cent account and you can trade with less risk.

(Risk warning: Your capital is at risk)

Review of the deposit and withdrawal with FBS Broker

The deposit and withdrawal of money are as easy as the registration with FBS. The broker offers different payment methods to do your transactions. You can use bank cards or electronic wallets. First of all, we recommend verifying your full identity with FBS before you deposit and start trading with real money. In the dashboard, you will see the instructions. It is very important because the broker only withdraws to verified accounts.

These methods are available for deposit and withdrawal:

  • Credit Cards
  • Neteller
  • Skrill
  • Sticpay
  • Perfect Money
  • Bitwallet
  • Local Exchangers and Bank Wire
  • CashU
  • 2Pay4You

Use different methods for your payments

How long does it take to deposit and withdrawal?

Deposits through electronic methods are working instant. The money is credited directly to your account. The withdrawal can take the maximum time of 48 hours. From my experience withdrawals are made very quickly and in less than 48 hours.

Are there any fees?

FBS does not charge any fees for a deposit on their platform except the payment method “sticpay” with 2,5% + $0,3 commission. For withdrawals, there are some commissions which you have to pay. You can see the commissions direct in your account dashboard. The fee always depends on your payment method.

What can you expect from the FBS Forex Broker Bonus program?

FBS offers a huge bonus program for free. You can activate the bonus in your account dashboard. This is a great advantage compared to other Forex Brokers. Trades can get additional money for their accounts to trade with higher risk. I have to mention that the bonus depends always on certain conditions.

Before you activate the bonus you should read the conditions. Some traders say that the bonus program is a scam because they do not read the bonus conditions. FBS markets show the conditions very transparent in the dashboard so you can decide if you take the bonus or not. Sometimes it is necessary to open a separate bonus account.

FBS offers a good bonus program

At the moment these bonuses are available:

  • Trade 100 Bonus (get 100$ for free if you trade and make a profit)
  • Cashback (the broker pays back some commissions to you)
  • 100% bonus on deposit (get additional money)

Conditions:

As mentioned before the conditions are transparently communicated between the broker and the trader. For example, if you get a deposit bonus you have to make a turnover of trading volume on FBS before you can withdraw the money.

Contest and awards for traders

Another big plus for FBS is the free contests and awards for traders. The Forex Broker offers different contests that have been updated each week. For example, there is a chance to win a car or an iPhone X. Personally I like the free demo account contest to win money without risk your own money. The prize fund is like 1000$ or more and the 5 first places winning a certain amount of it.

Free demo contest

Support and service for traders

The last point of this FBS review is the support and service for traders. FBS offers phone, email, and chat support for each client. The support is in multi-languages and available 24/7 a week. In addition, every trader gets personal support through an account manager who can help you by frequently asked questions.

Also, we had a closer look at the service for traders. FBS is very present in the Asian region. There are events and coachings for new traders. Furthermore, the best traders win prizes and get a big bonus. Webinars and coachings are available on the platform for beginners or advanced traders. In conclusion, FBS is one of the brokers with the best and personal service for its clients.

Facts about the support:

  • Support 24/7
  • Phone, Email, and Chat
  • Local FBS events
  • Webinars and coachings
  • Personal account managers

Countries – FBS accept international trader

FBS is a well known international company. They accept international trader with a few exceptions. The support is available in more than 20 different languages. The most traders are from Africa, Indonesia, Malaysia, India, and the Philippines.

These countries are not allowed:

Japan, USA, Canada, UK, Iran

Conclusion of the review: Is FBS a scam Forex Broker or not?

FBS Markets is in our experience and tests a serious company. The broker has international and European licenses, which is why fraud is ruled out. In summary, we can recommend the provider, as he offers to trade in the forex market very cheap. The broker scores points with numerous account types and bonus offers.

The trading platform Metatrader is also professional and available in version 4 and 5. In addition, the support replies very fast in different languages. One of the biggest advantages is that traders can start on a contest to win money or other prizes. Traders without a deposit get the chance to earn money. In conclusion, the service is very good and special with this broker.

The advantages of FBS:

  • Regulated in Belize and in Europe
  • Accept international traders
  • Different account types for your deposit
  • High leverage of up to 1:3000
  • Low spreads and commission
  • Specialized on Forex Trading and CFD Trading
  • Bonus program, contests, and events
  • Reliable support and service

If you are looking for a good and cheap forex broker, then you are right with this provider. (4.5 / 5)

Best Binary Options Brokers 2020:
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  • Binomo
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