Welcome to My FBS Review!
Today, we will talk about “FBS,” and it’s not the medical jargon “Fasting Blood Sugar”; rather, it is the forex trading platform that offers services and allows an earning opportunity through money trading.
FBS Review Summary
Founders: Not Disclosed
Product Type: Forex Trading Platform
Price: $1 To $1,000 For The Accounts
Quick Summary: FBS is a forex trading company that allows making money. It offers legitimate services and at the same time avoids many pitfalls that most forex multi-level marketing companies commit.
However, it still comes with a couple of red flags. One of which is the shady shell companies that operate out of known scam havens plus the fact that there are transparency issues with regards to who founded the company or how much it would cost to join their affiliate membership.
Overall Rating: 3/10
It’s said to be an international forex broker with more than 190 countries of presence and a lot of traders.
But is FBS legit in the first place or just another forex scam?
Don’t worry, we will talk about the nitty-gritty of this company so you’ll know if it’s worth your time or no so sit back, relax, and read the entire FBS review.
What Is FBS About?
FBS claims to be the “best broker for online trading.”
Just in case you’re not familiar with what a broker is, it’s simply the place or the platform that lets buyers and sellers purchase and sell foreign currencies. FBS is basically a do-it-yourself forex trading platform that caters both rookies and professional traders.
It may come with a promising offer for aspiring forex traders; however, FBS doesn’t provide information as to who founded or runs the company. It does disclose a series of linked shell companies, including FBS Inc. in the Marshall Islands, FBS Markets Inc. in Belize, and HDC Technologies Ltd in Cyprus.
Apparently, FBS has stronger traffic in India with 59% of traffic while Egypt comes second at 4%. While the website domain appears to be first registered back in 1995 and the current registration details are set to private. It was last updated in July 2018.
Strangely, FBS has excluded their domain from the Wayback Machine, making it hard to tell if when the current owners acquired it. But as in their website, the history section states that it was in 2009 when FBS entered into the international market.
As enticing as it seems, still a lot of information is missing with FBS, especially essential details, such as the owner's information. And if an opportunity is not upfront about that, think long and hard before joining.
FBS Product Line
FBS offers multi-tier trading accounts to its customer and it’s as follows:
- Cent ($1 Minimum Deposit) – Perfectly suits those who are just starting on their way to success on Forex
- Micro ($5 Minimum Deposit) – Ideal for those who want to calculate their profit precisely
- Standard ($100 Minimum Deposit) – for experienced market players making their way to Forex heights
- Zero Spread ($500 Minimum Deposit) – Designed for those who prefer trading at the fastest speed
- ECN ($1000 Minimum Deposit) – For those who want to feel the full power of trading with ECN technologies
FBS provides its trader customers with access to the MetaTrader4, MetaTrader5 platforms. MetaTrader is presumably used by FBS under license from MetaQuotes Software.
Other than advertising different accounts for distinctive involvement levels they too have analytic and educational products for forex traders.
Is FBS A Scam?
We can’t directly say that FBS is a scam.
You can actually check it online and find positive reviews from reliable sites. The brand doesn't also participate in other well-known scam tactics that other forex trading platforms and MLMs do.
On the other hand, they do stuff that other scams are known to do. For example, failing to disclose who the real owner is. Tactics like this make it obvious that they don’t want people to know who to blame or sue in case any unfortunate thing happens.
Is FBS A Pyramid Scheme/Ponzi Scheme?
FBS does offer a service related to forex. They also don’t have trading bots or automation claims, unlike others who promise to give you ROIs with a secret trading bot or stuff like that.
FBS also enables an earning opportunity through recruitment but it has legitimate services if you're trying to trade on your own. Thereby, NOT a pyramid nor a Ponzi scheme.
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FBS Compensation Plan
The compensation plan of FBS is simple unlike most MLM's who are long and complicated. FBS refers to its affiliates as “partners”.
FBS partners earn commissions on trading activity by recruited affiliates.
The brand simply pays out in a simple three-level unilevel system.
- Level 1 (Personally Recruited Affiliates And Traders) – 100%
- Level 2 – 15%
- Level 3 – 5%
You get 100% commissions on the trading activity of people you personally recruit, 15% on the second level, and 5% commissions on the 3rd level.
The above percentages are paid on traded lots, which is a unit used to measure what is being traded (one lot can be a set currency amount, number of shares etc.).
If you're new to Forex Trading, here's a quick video on how it works:
How Much To Join FBS?
FBS offers both partner and trading signup options: trading for customers and partners for affiliates. However, they only provide the account costs for the customers but it does not disclose the costs of their affiliate membership.
Here are the costs of minimum deposits to open up different accounts as a customer in FBS:
- Cent ($1)
- Micro ($5)
- Standard ($100)
- Zero Spread ($500)
- ECN ($1000)
Simple Compensation Plan
Unlike other Forex and MLM opportunities who would give you long pages of compensation plan explanation.
I like the fact that FBS’ compensation plan is simple and straightforward. There’s clarity and it’ll minimize confusion.
In FBS’ compensation plan, you simply earn commissions three levels below you. Nothing more, nothing less.
No Trading Bots
Most forex trading MLM platforms that promise to give ROIs with a secret trading bot or automation appear to be a scam. But on a lighter note, there's no mention of a trading bot or algorithm in FBS.
It offers legitimate services, too if you're trying to trade on your own.
No Owner Disclosed
As always, if an online income opportunity is not openly upfront about who is running or who owns it, think thoroughly before joining because most scams operate this way.
Actually, this alone can be a red flag to alert you immediately as such information should be laid bare otherwise they are scheming something bad.
Also they are not openly transparent on how much their affiliate membership costs, which is important as this helps traders find out if their opportunity is worth their time or not.
Linked Scam Shell Companies
As mentioned, another red flag is they have shell companies operating out of the Marshall Islands, Belize, and Cyprus. These places are known to be havens for scammers because of their little to no regulation of MLM companies.
Banned Some Countries
It’s not that they are banned in some countries but FBS itself banned some countries from joining their opportunity and using their services. Such countries include the USA, Canada, Brazil, Israel, Japan, and Iran.
Thinking about it, you’ll notice that these countries have strong regulations against MLMS, especially scammers. Perhaps, the brand doesn’t want to get involved with these regulating bodies because there might be something fishy going on.
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To provide the best customer experience, this forex trading platform organizes seminars and special events giving its clients access with training materials, cutting-edge trading technologies, and the latest strategies on the Forex market.
FBS is going to be useful for both newbie and professional traders.
And just like most forex opportunities, being part of their affiliate membership will give partners and as well as customers back office access.
My verdict depends on the trader.
If you’re a beginner, I don’t recommend FBS as forex trading platforms like this are best for professionals or at least, have the basic knowledge of how trading works.
Forex is not for all. Forex trading comes also with risks because of the unstable market. So everything is uncertain.
There are also a couple of red flags in this opportunity that was mentioned above.
With no owner disclosed and being linked to scam-probable shell companies that chose to operate in areas with weak regulation on networking, it’s definitely something to watch out! Also, they banned countries with strong regulating bodies and that left me more skeptical.
On the bright side, they don't take part in well-known scam tactics that other forex MLMs do but on the other hand, there are certain loopholes so I’ll leave this one for you to decide.
If you want to earn and at the same time, have the peace of mind you need knowing that you are not involved in scams, I suggest that you join my top-recommended program.
You don’t need to be an expert in trading and newbies are definitely welcome!
Create an account now and get all the business tools and support you need to make money online:
- Training resources
- Webinars to help you start your business online
- One-on-one coaching
- Comprehensive guide
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I hope this FBS review has helped you and if you have questions or comments, please feel free to share it below.