FBS Account Types
Overall, FBS Account Types offers three retail investor accounts as well as Islamic and demo accounts for Botswana traders. FBS are competitive, however, FBS is not regulated by the Capital Markets Authority but FBS is still an ideal option for traders despite their trading experience.
- Louis Schoeman
Jump to:
Account Types Overview
Account Types
Account Features
Pros and Cons
Final Verdict
FAQ
FBS at a Glance
| 🏛 Headquartered | Belize |
| 🌎 Global Offices | Malaysia, Laos, Thailand, Dubai, Brazil, Turkey |
| 🏛 Local Market Regulators in Botswana | • Ministry of Finance and Economic Development (MFED) • Bank of Botswana (BoB) • Non-Bank Financial Institutions Regulatory Authority (NBFIRA) |
| 💳 Foreign Direct Investment in Botswana | 115.89 BWP Million in 2021 |
| 💰 Foreign Exchange Reserves in Botswana | 5270 USD Million in 2021 |
| ✔️ Local office in Gaborone? | No |
| 👨⚖️ Governor of SEC in Botswana | None, Moses Dinekere Pelaelo is the Governor of the Bank of Botswana |
| ✔️ Accepts Botswana Traders? | Yes |
| 📊 Year Founded | 2009 |
| 📞 Botswana Office Contact Number | None |
| 📱 Social Media Platforms | • Facebook • Telegram • YouTube |
| ⚖️ Regulation | IFSC, CySEC, ASIC, FSCA |
| 1️⃣ Tier-1 Licenses | • Australian Securities and Exchange Commission (ASIC) |
| 2️⃣ Tier-2 Licenses | • Cyprus Securities and Exchange Commission (CySEC) • Financial Sector Conduct Authority (FSCA) |
| 3️⃣ Tier-3 Licenses | • International Financial Service Commission (IFSC) in Belize |
| 🪪 License Number | • Belize – 000102/198 • Cyprus (Tradestone) – 331/17 • Australia (IFM) – 426359 • South Africa (Tradestone) – 50885 |
| ⚖️ MFED, BoB, or NBFIRA Regulation | None |
| ✔️ Regional Restrictions | Japan, United States, Canada, United Kingdom, Myanmar, Brazil, Malaysia, Israel, the Islamic Republic of Iran |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 3 |
| ✔️ PAMM Accounts | No |
| 💻 Liquidity Providers | Currenex |
| ✔️ Affiliate Program | Yes |
| 📱 Order Execution | Market |
| 📊 Starting spread | 0.0 pips |
| 📉 Minimum Commission per Trade | From $6 |
| 💰 Decimal Pricing | 5th decimal pricing after the comma |
| 📞 Margin Call | 40% |
| 🛑 Stop-Out | 20% |
| 📉 Minimum Trade Size | 0.01 lots |
| 📈 Maximum Trade Size | Unlimited |
| ✅ Crypto trading offered? | Yes |
| ✔️ Offers a BWP Account? | No |
| 📉 Dedicated Botswana Account Manager? | No |
| 📈 Maximum Leverage | 1:3000 |
| 📊 Leverage Restrictions for Botswana? | No |
| 💳 Minimum Deposit (BWP) | 96 Botswanan Pula or an equivalent to $5 |
| ✔️ Botswana Pula Deposits Allowed? | Yes |
| 📊 Active Botswana Trader Stats | 250,000+ |
| 👥 Active Botswana-based customers | Unknown |
| 🔁 Botswana Daily Forex Turnover | Unknown, Forex overall is $6.6 Trillion |
| 💰 Deposit and Withdrawal Options | • Credit Card • Debit Card • Neteller • Sticpay • Skrill • Perfect Money • Local Exchanges |
| 💻 Minimum Withdrawal Time | 15 to 20 minutes (maximum 48 hours) |
| ⏰ Maximum Estimated Withdrawal Time | Up to 7 days |
| 💳 Instant Deposits and Instant Withdrawals? | Instant Deposits |
| 🏛 Segregated Accounts with Botswana Banks? | No |
| 📱 Trading Platforms | • FBS Trader • MetaTrader 4 • MetaTrader 5 |
| 💻 Tradable Assets | • Forex • Precious Metals • Indices • Energies • Stocks • Exotic Forex • Cryptocurrencies |
| ✔️ Offers USD/BWP currency pair? | No |
| 📊 USD/BWP Average Spread | N/A |
| ✅ Offers Botswana Stocks and CFDs | No |
| 💻 Languages supported on the Website | English, German, Spanish, French, Italian, Portuguese, Indonesian, Malay, Vietnamese, Turkish, Korean, and others |
| ☎️ Customer Support Languages | Multilingual |
| ⏰ Customer Service Hours | 24/7 |
| 📞 Botswana-based customer support? | No |
| 💸 Bonuses and Promotions for Botswanans? | Yes |
| 📚 Education for Botswanan beginner traders | Yes |
| 📱 Proprietary trading software | Yes |
| 🤝 Most Successful Trader in Botswana | Unknown |
| ✔️ Is FBS a safe broker for Botswana Traders? | Yes |
| 🎖 Rating for FBS Botswana | 9/10 |
| 🥇 Trust score for FBS Botswana | 75% |
| 👉 Open Account | 👉 Open Account |
FBS Overview
Overall, FBS is considered an average risk, with an overall Trust Score of 75 out of 100. FBS is licensed by one Tier-1 Regulator (high trust), two Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust). FBS offers three different retail trading accounts namely an Cent Account, Standard Account, and Pro Account.
FBS is an ECN and STP broker with a base in Belize. It was established in 2009 and offers a wide range of CFD and FX trading instruments across several asset classes. Over the last several years, FBS’s popularity and power have grown significantly.
As a licensed and recognized international broker, FBS also offers Botswana investors and traders FX and CFD trading across a variety of different asset classes.
With over 100 cryptocurrency pairings, a user-friendly mobile trading software, and a variety of accounts, including a specialized crypto account and a low-cost entry-level account, FBS is an internationally recognized broker.
Botswanans should be informed that FBS is not governed by the Capital Markets Authority (CMA) and that they will be onboarded via a Belize-based firm that has less regulatory control over the broker than other bodies.
FBS is a well-known name throughout the world thanks to its millions of registered traders from more than 190 nations. The broker registers hundreds of accounts each day, guaranteeing a constant flow of liquidity across all its platforms.
Using sophisticated and adaptable trading platforms that are accessible on a variety of devices, including computers, mobile devices, and web browsers, trading accounts offered by FBS provide traders access to over 75 different tradeable products.
FBS employs an ECN and STP execution strategy, which implies that orders are sent to liquidity providers and market makers and that FBS does not earn money from its clients’ trading losses or take the other side of a transaction, as is the case with Market Maker brokers.
FBS has clients from around the world and these areas have the largest distributions:
➡️ Republic of Korea – 8.4%
➡️ Philippines – 7.5%
➡️ Thailand – 7.2%
➡️ Qatar – 5.4%
➡️ Malaysia – 5.11%
FBS Account Types
FBS enables Botswana traders to access several financial markets, including the Forex market, via six retail investor accounts. The broad range of trading options offered by FBS, which includes options for both beginners and specialists, is easily accessible to traders of all experience levels.
The following account types are available to Botswana traders:
➡️ FBS Cent Account
➡️ FBS Standard Account
➡️ FBS Pro Account
| 💻 Live Account | 📉 Minimum Dep. | 📊 Average Spread | 💰 Commissions | 💸 Leverage |
| ➡️ Standard | 96 BWP / $5 | from 0.7 pips | $0 | up to 1:3000 |
| ➡️ Cent | 96 BWP / $5 | from 0.7 pips | $0 | up to 1:1000 |
| ➡️ Pro | 3850 BWP / $200 | from 0.5 pips | $0 | up to 1:2000 |
FBS Account Features
Standard Account
This account type is designed for Botswanan traders who want a more traditional forex trading environment. The Standard account provides attractive spreads as well as commission-free trades.
A standard account is ideal for traders looking for traditional trading experience. The Standard account offers competitive spreads without any commissions. At FBS, you are free to select any leverage that fits your trading strategy — up to 1:3000.
Cent Account
Cent account is a trading account on which the balance is displayed in cents, and transactions are carried out in cents as well. It means that if you deposit $10, you will have 1000 cents in your account. Trading on the Cent account is low-risk. Therefore, it is an excellent choice for Forex novices. Moreover, this type of account can be an attractive option for experienced traders who want to check new strategies. The Cent account allows people to trade smaller lot sizes and open an account with a lower initial deposit than any other account.
Pro Account
The Pro trading account is designed to meet the needs of the most sophisticated traders.
With unlimited open orders and lower spreads, you can execute complex trading strategies and save money on large orders. And with lower margin requirements, you have greater control over your positions and risk management.
Can traders switch between different account types with FBS, and what is the process for changing account types?
Yes, FBS typically allows traders to switch between different account types if they wish to do so.
What are the different types of trading accounts offered by FBS, and how do they differ in terms of features and trading conditions?
FBS typically offers a range of trading accounts to cater to traders with varying needs and experience levels. These accounts may include Standard, Cent and Pro accounts, among others.
FBS Demo Account
FBS offers free practice accounts that allow Forex traders to test their strategies with virtual funds and real-time market data. Utilizing a demo account to learn to trade is a wonderful way to get started.
After forty days, the FBS demo account will be automatically deleted from the system. Botswana customers have the option of starting a new one when this happens. The FBS demo account can be registered on any of the following account types:
➡️ FBS Cent Account
➡️ FBS Standard Account
➡️ FBS Pro Account
Is there a time limit or expiration date for using the FBS demo account, and can traders open multiple demo accounts?
FBS typically offers demo accounts without a set expiration date, allowing traders to practice their skills for an extended period. Additionally, traders often have the flexibility to open multiple demo accounts if they wish to test different strategies or practice with various trading conditions.
Are there any differences in features or trading conditions between the FBS demo account and live trading accounts?
FBS’s demo accounts are designed to closely mimic the features and trading conditions of live trading accounts, providing traders with a realistic trading experience. However, there may be some differences, such as the absence of real monetary risk in demo accounts.
FBS Islamic Account
One unique feature regarding forex trading is that Botswana can keep their positions open for longer after a trading day or session concludes. This length of time is determined by the trading style and trading technique that the trader employs.
This indicates that the trader may be responsible for paying an overnight or rollover charge. As a result of the fact that this specific type of interest is forbidden under the Riba principles of Sharia law, Muslim traders often face restrictions while engaging in forex trading.
Using FBS, Muslim traders can open a live trading account and then convert it to an Islamic trading account on any of the following account types:
➡️ FBS Cent Account
➡️ FBS Standard Account
➡️ FBS Pro Account
What is the FBS Islamic Account, and how does it comply with Sharia law principles?
The FBS Islamic Account, also known as a swap-free account, is designed to cater to traders who adhere to Islamic finance principles and wish to trade in compliance with Sharia law.
Are there any additional requirements or eligibility criteria for opening an FBS Islamic Account, and can traders switch between Islamic and non-Islamic accounts?
FBS Islamic Accounts are generally available to traders who can demonstrate their commitment to Islamic finance principles. This may involve providing documentation or a self-declaration of intent to trade in accordance with Sharia law.
FBS Botswana Pros and Cons
| ✔️ Pros | ❌ Cons |
| FBS is well-regulated and trusted in the forex and CFD industry | FBS charges inactivity fees on dormant accounts |
| Botswanans can register an Islamic Account on four unique live accounts | The spreads are extremely wide on some accounts, especially entry-level accounts |
| The demo account is offered on most trading accounts | Deposit and withdrawal fees are charged |
| FBS offers 24/7 customer support across many channels | FBS only supports a few base account currencies, and currency conversion fees could apply |
| FBS offers a robust and innovative mobile app for iOS and Android devices | |
| FBS has competitive trading conditions that suit all trading styles and objectives | |
| There is a comprehensive affiliate program offered to all traders |
Verdict on FBS
Overall, FBS is very competitive in terms of its trading fees and spreads.
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Conclusion
Now it is your turn to participate:
Do you have any prior experience with FBS?
What was the determining factor in your decision to engage with FBS?
Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?
Have you experienced any issues with FBS such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?
Regardless, please share your thoughts in the comments below.
Frequently Asked Questions
Does FBS have a Cent Account?
Yes, FBS has a dedicated Cent Account with spreads from 0.7 pips, leverage up to 1:1000, commission-free trading, and STP execution on trades.
Can I trade Bitcoin with FBS?
Yes, the mechanics of trading cryptocurrencies with FBS is simple. You can trade Bitcoin, LiteCoin, Ethereum and Dash.
Which FBS Accounts can I demo?
You can register a demo account on these FBS accounts:
- Cent Account
- Pro Account
- Standard Account
Does FBS have an app?
Yes, the FBS Trader is a user-friendly mobile app where you can open and close positions, gain market information, make deposits/withdrawals, and more.
Can I trust FBS with my money?
FBS keeps all client funds secure in segregated bank accounts. These accounts are held with top banking institutions. As a result, the funds cannot be used for the broker’s daily operations or to meet its financial obligations.
Addendum/Disclosure:
No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.
