Why sign up for a Practice Account? Trading foreign exchange or contracts for differences on margin carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a forex brokers comparison of some or all of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose.
Before deciding to trade the products offered by ICM you should carefully consider your objectives, financial situation, needs and level of experience. Finding the right Forex broker can be rather challenging, as there are so many to choose from. As with any form of investment it is advisable to do some research before picking the best for your needs. We are writing this FBS review to provide you with enough information to compare various brokers, and make an informed decision.
A brief introduction to FBS and what’s on offer FBS entered the world of Forex back in 2009, so can be considered well-versed in the Forex world. This broker is owned by the FBS Markets Company, who are well-known in the financial services industry. There are offices in a number of significant Asian cities, including Malaysia, China, and Kuala Lumpur. However, we should mention that FBS does not accept customers from the USA. This has given them an enviable reputation as it means they comply with the agencies strong regulations, as well as benefit from increased security measures with regards personal data protection. There is also the promise of speedy and smooth financial transactions. Customer service is excellent, with communication possible via email, phone calls, and live chat.
A number of different languages are supported, including Russian, Spanish, Turkish, Chinese, and of course English. Which makes it a good choice for beginners with a small budget. There is also an Islamic account available. There are also a number of attractive Forex bonuses. This is perfect for beginners as it allows traders to gain real experience, but with minimal risk.
01, and floating spreads start at 1 pip. As a beginner it is also useful to be able to use any robots and strategies, without restriction. With a micro account traders can enjoy the advantages of fixed spreads and STP trading. There is also leverage of 1:2000 and spreads fixed at 3 pips.
Once traders have passed the beginners stage they can move onto a standard account. Which is better suited for traders with a little more experience, and those who are ready to test out their strategies. This accounts focus is mainly on improving profits, and reducing risk, with the introduction of reduced floating spreads. 500, which makes it an option for the more serious trader.
As the name implies, trades can be executed with no spread, which means a trader can get more familiar with market conditions, and how they affect trades. Many professional traders find this account very useful. This is a little different than the other accounts, as it is an ECN account. It is the option that most resembles trading conditions in the Forex market. 500, and the floating spread starts at 0. There are no restrictions on open positions and pending orders, so traders have freedom to trade as they please. 10000, and traded 50 lots, you are invited to become a VIP client at FBS, which has certain advantages.