Top5 Brokers for Cryptocurrency Trading
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FBS Review |Â FBSÂ Cryptocurrencies Trading Details
Founded in 2009, FBS Markets Inc. has established themselves as a well-known broker offering a full range of trading services within the forex industry.
The Belizean based broker has managed to attract live traders numbering into the millions according to company data and continues to expand globally, having bagged numerous industry awards over the years.
The company is regulated by one of the most respected financial regulatory bodies with CySEC in the EU, and within Belize by the International Financial Services Commission (IFSC). Whilst Belize may not immediately stand out as a prominent location for regulatory compliance, it is in fact, one of the more popular and trusted global financial destinations.
FBS cryptocurrencies Trading conditions
The value is given for 4-digit quotes. In 5-digit quotes, the fourth digit after a comma is indicated (0.0001). In 3-digit quotes – the second digit after a comma (0.01). For example, in EURUSD quote – 1.36125; in USDJPY quote – 101.852
Swap Free option is not available for trading on “Forex Exotic” and CFD instruments
Notice that in MT5 a commission is charged when you open a deal. In the Trade window for your open position, the profit doesn’t include the commissions.
| MINIMAL SPREAD | TYPICAL SPREAD | SWAP LONG | SWAP SHORT | COMMISSION, $ | STOP LEVEL | |||
| Bitcoin | Bitcoin vs USD | Lot size 1 | 250 | 320 | -10 | -10 | 15 | 1000 |
| DASH | DASH vs USD | Lot size 10 | 0 | 550 | -10 | -10 | 15 | 100 |
| Ethereum | Ethereum vs USD | Lot size 10 | 200 | 200 | 200 | 200 | 200 | 200 |
| LiteCoin | LiteCoin vs USD | Lot size 100 | 400 | 550 | -10 | -10 | 15 | 1000 |
FBS Trading Platforms
They have chosen to offer only MetaTrader 4 and MetaTrader 5 platforms from MetaQuotes, although it lacks variety which some traders would welcome seeing, adds a certain degree of surety to the FBS broker offering.
FBS MT4 and MT5 perform with the same great levels of user-friendliness combined with fast and effective execution which have made them a household name throughout the industry.
They are both controlled through the left and lower taskbars which allow for the display of the latest news, in this case, provided by the MLQ5 community and detailing of open positions and other necessity. Displayed on the left side are the ever-familiar market watchlisting and the navigator, whilst the central display shows the chosen charts, and like the hundreds of professional charting tools and professional indicators which can be applied to your charts within MT4 and MT5, this display is also highly customizable.
FBS web trader is also available in both varieties, and much like the FBS MT4 and MT5, it incorporates 51 charting indicators in its standard offering, with many more available from MetaQuotes.
These platform offerings are highly functional and whilst traders may be somewhat disappointed at the lack of proprietary platform options, they will likely be familiar with MetaTrader. In the case of new traders, this can often prove to be advantageous too since MT4 and MT5 are available through most brokers as standard. This equips them with transferrable trading platform knowledge from the outset.
FBS Account Types
There are five different options available when opening your FBS trading account. These are, Cent Account, Micro Account, Standard Account, Zero-Spread Account, and ECN Account.
the FBS minimum deposit on each account type varies, as do some of the trading conditions such as leverage, spread, and execution style.
Due to the multiple options which FBS account types present, these are also a number of different fee structures in place. These include 3 account types which offer commission-free trading, 2 with floating spreads, and the FBS micro account with fixed spreads.
Both the zero-spread FBS trading account, and the ECN account offer trading with the lowest spreads, but do add a commission to trading. In the case of the zero-spread account, this commission is levied at $20 per side, per lot.
There are different swap fees which are variable and can be viewed in more comprehensive detail here, but there are relatively few non-trading fees, including no inactivity fee, and reimbursement of any deposit fees incurred.
FBS Islamic Account
these accounts will not be eligible for any FBS deposit bonus.
FBS Conclusion
The broker has been in the industry for a number of years and successfully accommodated millions of traders and trades. This, along with their extensive range of educational options and available FBS account types, make for an attractive proposition. This can be furthered strengthened to attract new traders through the offering of the many FBS deposit bonuses.
They are offering a huge variety of platforms, offering a range of user-friendly fee and commission structures, and ultimately operating in a transparent and trusting manner with its users. This is highlighted in its responsiveness to trader queries and the easily navigated manner of its website and information.