FBS Account Types
FBS provides 6 different account types, the FBS Cent account, an FBS Micro account, an FBS Standard account, an FBS Zero account, an FBS ECN account, and an FBS Crypto account. The Islamic account and demo account options are also available. Each account type has its own set of conditions.
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Account Types Overview
Account Types
Account Features
Pros and Cons
Final Verdict
FAQ
Overall Rating
- 4.7/5
Total Pairs
250
Islamic Account
Yes
Trading Fees
Low
Welcome Bonus
$140 (58 116 NGNFind out More)
Account Activation Time
Instant
FBS Account Types – 9 key points quick overview:
FBS Account Types Overview
👉 According to research in Nigeria, FBS, a Belize-based ECN and STP broker, was founded in 2009 and provides a comprehensive selection of CFD and FX trading instruments across several different asset classes. FBS has seen a significant increase in popularity and strength over the last several years.
👉 As a registered and international broker, FBS also provides FX and CFD trading across a wide range of other asset classes for Nigerian traders and investors. There is no regulation offered through Nigeria’s Central Bank (CBN), but FBS has the support of other respectable authorities, allowing Nigerian traders to have confidence in FBS.
👉 With offices in numerous locations across the globe, FBS ensures that traders have access to the information, products, and customer services they need in the language they are most comfortable with.
👉 FBS has millions of registered traders from more than 190 countries, making it an internationally recognized brand. Every day, the broker sees thousands of accounts registered, ensuring that there is a steady flow of liquidity across its platforms.
👉 Trading accounts provided by FBS allow traders access to over 75 different tradable instruments using sophisticated and versatile trading platforms, all available across several devices including desktops, mobile devices, and Internet browsers.
👉 FBS users an ECN and STP execution approach, which means that orders are transmitted to market makers and liquidity providers and that FBS does not profit from its customers’ trading losses or take the opposing side of a transaction, as is the case with Market Maker brokers.
FBS At a Glance
| 🏛️ Headquartered | Belize |
| 🏛️ Nigerian Based Office | No |
| 👍 Accepts Nigerian Traders? | Yes |
| 📅 Year Founded | 2009 |
| 📱 Nigerian Office Contact Number | None |
| ⚖️ Regulation | IFSC, CySEC, ASIC, FSCA |
| 🔎License Number | Belize – IFSC/000102/198 Cyprus – 331/17 |
| ⚖️ CBN 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 | 6 |
| 📊 PAMM Accounts | None |
| 📊 Liquidity Providers | Currenex |
| ✅ Affiliate Program | Yes |
| 📊 Crypto trading offered? | Yes |
| 🚀 Offers a Nigerian Account? | No |
| 💻 Dedicated Nigerian Account Manager? | No |
| 📈 Maximum Leverage | 1:3000 |
| 📈 Leverage Restrictions for Nigeria? | No |
| 💳 Minimum Deposit (₦) | 400 Nigerian Naira equivalent to $1 |
| 💳 Nigerian Naira Deposits Allowed? | Yes |
| 💰 Active Nigerian Trader Stats | 1.3 million |
| 👥 Active Nigerian-based FBS customers | 150,000+ |
| 💰 Nigeria Daily Forex Turnover | $1.25 million+ |
| 💳 Deposit and Withdrawal Options | Credit Card Debit Card Neteller Sticpay Skrill Perfect Money Local Exchanges |
| 💰 Segregated Accounts with Nigerian Banks? | No |
| 💻 Trading Platforms | FBS Trader, MetaTrader 4, MetaTrader 5, |
| 💰 Tradable Assets | Forex Precious Metals Indices Energies Stocks Exotic Forex Cryptocurrencies |
| 🌐 Offers USD/NGN currency pair? | No |
| 🌐 USD/NGN Average Spread | N/A |
| 📈 Offers Nigerian Stocks and CFDs | No |
| 👨💼 Languages supported on Website | English, German, Spanish, French, Italian, Portuguese, Indonesian, Malay, Vietnamese, Turkish, Korean, and others |
| 👥 Customer Support Languages | Multilingual |
| 👥 Customer Service Hours | 24/7 |
| 👥 Nigerian-based customer support? | No |
| 💰 Bonuses and Promotions for Nigerians | Yes |
| ✴️ Education for Nigerian beginners | Yes |
| 📊 Proprietary trading software | Yes |
| 💰 Most Successful Nigerian Trader | Uche Paragon ($20 million net worth) |
| ✔️Is FBS a safe broker for Nigerians? | Yes |
| ✔️Rating for FBS Nigeria | 9/10 |
| ✔️Trust score for FBS Nigeria | 75% |
FBS Account Types
👉 FBS provides six retail investor accounts via which traders can access a variety of financial marketplaces. FBS provides some of the most accommodating trading conditions in the trading industry, with accounts suitable for both novice and experienced traders.
➡️ FBS Cent Account
➡️ FBS Micro Account
➡️ FBS Standard Account
➡️ FBS Zero Account
➡️ FBS ECN Account
➡️ FBS Crypto Account
FBS Account Features
FBS Cent Account
👉 The primary characteristic of the FBS Cent Account is that the balance is denominated in cents and all transactions are also denominated in cents. The Cent Account is well-known for its low-risk trading environment, which makes it an excellent choice for newcomers.
👉 Additionally, this account is suitable for experienced traders who want to evaluate their trading tactics. The Cent Account enables traders to open smaller positions and requires a cheaper initial investment.
| Account Feature | Value |
| 💳 Minimum Deposit | 400 Nigerian Naira equivalent to $1 |
| 📈 Average spread | Floating, from 1 pip |
| 🔎 Commission | None |
| 📈 Leverage | Up to 1:1000 |
| 📅 Maximum opening positions | 200 |
| 📊 Order volume | Between 0.01 to 1,000 cent lots |
| 📈 Market Execution | From 0.3 seconds, STP |
| 📱 Trading Platform | MetaTrader 4, MetaTrader 5, FBS Trader |
| 🚀 Tradable Instruments | Forex, precious metals, indices, energies, forex exotics, stocks |
| ☪️ Swap-Free Islamic Option | Yes |
FBS Micro Account
👉 The Trader’s Calculator, one of the most effective trading tools available on the Micro Account, makes it easy for both new and seasoned traders to precisely calculate their winnings. Bonuses like the 100% deposit bonus, level-up bonus, and cashback are available on the Micro Account.
| Account Feature | Value |
| 💳 Minimum Deposit | 2,000 Nigerian Naira equivalent to $5 |
| 📈 Average spread | Fixed, from 3 pips |
| 🔎 Commission | None |
| 📈 Leverage | Up to 1:1000 |
| 📅 Maximum opening positions | 200 |
| 📊 Order volume | Between 0.01 to 500 lots |
| 📈 Market Execution | From 0.3 seconds, STP |
| 📱 Trading Platform | MetaTrader 4, FBS Trader |
| 🚀 Tradable Instruments | Forex and precious metals |
| ☪️ Swap-Free Islamic Option | Yes |
FBS Standard Account
👉 Traders who prefer a more traditional approach to forex trading will find everything they need in this account type. Spreads are competitive, and there are no commissions associated with trading on the Standard account.
| Account Feature | Value |
| 💰 Minimum Deposit | 41,500 Nigerian Naira equivalent to $100 |
| 📊 Average spread | Floating, from 0.5 pip |
| 💵 Commission | None |
| 💸 Leverage | Up to 1:3000 |
| 📈 Maximum opening positions | 200 |
| 📊 Order volume | Between 0.01 to 500 lots |
| 📲 Market Execution | From 0.3 seconds, STP |
| 💻 Trading Platform | MetaTrader 4, MetaTrader 5, FBS Trader |
| 🔧 Tradable Instruments | Forex, precious metals, indices, energies, forex exotics, stocks |
| ☪️ Swap-Free Islamic Option | Yes |
FBS Zero Account
👉 The zero-pip spread charged on this account type is its primary feature. Increased profit margins and more accurate profit calculations may be achieved by using this method. While there are no spreads charged on this account type, there will be commissions charged on trades to make up for the broker’s fee.
| Account Feature | Value |
| 💳 Minimum Deposit | 207,750 Nigerian Naira equivalent to $500 |
| 📈 Average spread | Fixed, 0 pips |
| 🔎 Commission | From $20 per lot |
| 📈 Leverage | Up to 1:3000 |
| 📅 Maximum opening positions | 200 |
| 📊 Order volume | Between 0.01 to 500 lots |
| 📈 Market Execution | From 0.3 seconds, STP |
| 📱 Trading Platform | MetaTrader 4, FBS Trader |
| 🚀 Tradable Instruments | Forex, precious metals, Forex Exotics |
| ☪️ Swap-Free Islamic Option | Yes |
FBS ECN Account
👉 Professional traders looking for the finest terms can consider opening an ECN Account. This type of account is used by sellers and buyers, allowing them to interact without any interference from intermediaries.
| Account Feature | Value |
| 💳 Minimum Deposit | 415,500 Nigerian Naira equivalent to $500 |
| 📈 Average spread | Floating from -1 pip |
| 🔎 Commission | $6 |
| 📈 Leverage | Up to 1:500 |
| 📅 Maximum opening positions | None |
| 📊 Order volume | Between 0.01 to 500 lots |
| 📈 Market Execution | ECN |
| 📱 Trading Platform | MetaTrader 4, FBS Trader |
| 🚀 Tradable Instruments | 25 forex currency pairs |
| ☪️ Swap-Free Islamic Option | No |
FBS Crypto Account
👉 For crypto traders who wish to engage in the crypto market, this account is the best option. With the FBS Crypto Account, you may trade in a variety of assets, including fiat currency, coins, and metal coins.
| Account Feature | Value |
| 💳 Minimum Deposit | 400 Nigerian Naira equivalent to $1 |
| 📈 Average spread | Floating from 1 pip |
| 🔎 Commission | 0.05% for opening and 0.05% for closing positions |
| 📈 Leverage | 1:5 |
| 📅 Maximum opening positions | 200 |
| 📊 Order volume | Between 0.01 to 500 lots |
| 📈 Market Execution | From 0.3 seconds, STP |
| 📱 Trading Platform | MetaTrader 5 |
| 🚀 Tradable Instruments | Cryptocurrencies |
| ☪️ Swap-Free Islamic Option | No |
FBS Demo Account
👉 Trading on a demo account allows traders to get a feel for the real market without risking any of their own money.
👉 For those who are new to trading, FBS provides a secure trading environment where they can test their methods, practice trading, and discover what the forex broker has to offer in a real-world trading environment.
👉 The demo account that FBS offers can be registered on any of the following account types:
➡️ FBS Cent Account
➡️ FBS Micro Account
➡️ FBS Standard Account
➡️ FBS Zero Account
➡️ FBS ECN Account
👉 The demo account is available for 40 days, after which Nigerian traders can either open a real trading account or open a new demo account, depending on their preference.
FBS Islamic Account
👉 The purpose of an Islamic Account is that it caters specifically for Muslim traders who follow Sharia law. The law prevents its followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitive.
👉 Overnight fees are charged if Nigerian traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should they hold positions open for longer.
👉 Any of the following active trading accounts can be converted to an Islamic Account:
➡️ FBS Cent Account
➡️ FBS Micro Account
➡️ FBS Standard Account
➡️ FBS Zero Account
FBS Pros and Cons
| ✔️ Pros | ❌ Cons |
| There is a very low minimum deposit required | Several regions are restricted from service |
| FBS is an online broker with regulation through IFSC and the Cyprus Securities and Exchange Commission | The spreads on some accounts are very high |
| There is a choice between investor accounts | Inactivity fees apply to dormant accounts |
| Traders have access to fast, flexible payment methods | The demo account expires after 40 days |
| The trading conditions are favourable and competitive | Withdrawal fees and deposit fees are charged |
| There are demo accounts and Islamic Accounts | There is a limited selection of funding options and there are only two base account currencies |
| Customer service is available 24/7 | Currency conversion fees are charged on deposits made in currencies other than USD and EUR |
| The broker is reputable and has a high trust score | |
| FBS is an official trading partner that offers a comprehensive affiliate program | |
| There are several bonuses and promotions offered |
FBS Final Verdict
Overall, FBS can be summarised as a trustworthy and credible broker that is very competitive in terms of its trading fees, (against major currency pairs). The spread is also very low and is considered low-risk.
FAQ
Are Nigerian traders allowed to open a FBS trading account?
Yes, Nigerian traders are allowed to open a FBS trading account.
How long does a FBS withdrawal take?
Card withdrawals take more or less 3-4 business days, while bank transfer withdrawals are processed within 7-10 business days.
Does FBS offer Nigerian shares or other instruments?
No, FBS does not offer any instruments native to Nigeria.
Which platforms are supported by FBS?
FBS supports the use of the following:
- MetaTrader 4
- MetaTrader 5
- FBS Trader
- CopyTrade Platform
Does FBS offer leverage?
Yes, FBS offers leverage up to 1:3000.
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