FBS is an international forex/CFD broker licensed by CySEC (Cyprus) and ASIC (Australia) for European/Australian clients, plus FSC Belize for international clients. With four account types carrying very different names and cost structures — including one named “Zero Spread” with the highest commission among all brokers analyzed in this series — this article ranks all four by real value, not just by name.
Licensing: CySEC/ASIC for some clients, FSC Belize for most others
FBS operates through Tradestone Ltd (CySEC, license 331/17) for European clients, Intelligent Financial Markets Pty Ltd (ASIC, license AFSL 426359) for Australian clients, and FSC Belize for remaining international clients. European/Australian clients are capped at 1:30 leverage with a higher minimum deposit (~€100), while international clients under FSC Belize can start from just $1-5 with leverage up to 1:3000.
Ranking FBS’s 4 account types by real value
#1 — Cent: safest and most sensible for beginners
Minimum deposit of just $1, spreads from 1 pip, no commission, leverage up to 1:1000. This is the best starting point of the four — simple, easy-to-understand cost, minimal financial risk to get familiar with the platform.
#2 — Standard: simple for moderate volume
Floating spreads, no commission, leverage up to 1:3000 (offshore clients). An easy-to-understand fee structure, suited to traders already comfortable with real-money trading at moderate volume, with no separate commission to calculate.
#3 — ECN: sensible for serious traders
Low spreads, $6/lot commission, maximum leverage of 1:500 (lower than the other three). This is a familiar, sensible cost structure — the $6/lot commission matches the industry average seen at many other brokers, and the more limited leverage in exchange may be a reasonable risk-management measure by FBS for this account type.
#4 — Zero Spread: the most misleading name in this entire research series
This account is ranked last not because of poor technical quality, but because its name has serious potential to mislead. “Zero Spread” sounds like a free or ultra-cheap product — in reality, its fixed 0-pip spread comes with a $20/lot commission, the HIGHEST commission among every broker analyzed in this series (versus $3-7/lot common at other brokers). For 1 lot of EUR/USD, the real cost on Zero Spread is $20 — far more expensive than ECN ($6/lot), even though both effectively have near-zero spread.
Why is “Zero Spread” more expensive than “ECN” despite the same 0-pip spread?
This is the most important lesson from FBS: an account name emphasizing ONE cost component (spread) while obscuring another (commission) can lead traders to a wrong decision if they only skim the name. Zero Spread might suit specific cases (e.g., a strategy that needs absolute price precision with zero spread variation), but for the vast majority of traders seeking the lowest trading cost, ECN is almost always the more economical choice.
Trading platforms
FBS supports MetaTrader 4 and MetaTrader 5 on desktop, web, and mobile, along with its own proprietary app. There’s no significant platform fragmentation by account type, so switching between accounts doesn’t require relearning an interface.
A concrete example: Zero Spread vs. ECN for 5 lots of EUR/USD
With Zero Spread: 0-pip spread (~$0) + $20/lot × 5 = $100 — total cost $100. With ECN: low spread (~$0.5 for 5 lots) + $6/lot × 5 = $30 — total cost about $30.5. A $70 gap for the same 5 lots is a significant figure, clearly demonstrating that “Zero Spread” doesn’t mean “lowest cost” — this is one of the largest value gaps between two accounts at the same broker we’ve documented across analyzing all 13 brokers in this series.
Deposit methods and customer support
FBS supports a range of methods depending on region: Visa, Skrill, Neteller, bank transfer for EU clients; plus PerfectMoney, Sticpay, GlobePay for non-EU clients. For customer support, FBS offers live chat and a help center (support.fbshelp.com) with many detailed guides by topic.
Strengths and things to watch out for
Strengths of FBS: CySEC/ASIC licensing for eligible clients, an extremely low entry threshold for international clients, and ECN with reasonable commission. Serious things to watch out for: the “Zero Spread” name is easy to misread relative to its real cost, and 1:3000 leverage for offshore clients carries extreme risk if used carelessly.
A general lesson: never trust an account name without checking the numbers
FBS’s Zero Spread case is the most extreme example across all 13 brokers analyzed in this series of a principle repeated throughout: an account name (Standard, Pro, ECN, Zero Spread, VIP) is a marketing tool, not a commitment to real value. The safest principle when evaluating any account at any broker is to calculate total real cost (spread + commission + other fees) for your specific trading volume, comparing it directly against other options at the same broker, before letting the name influence your decision.
Who should genuinely consider Zero Spread despite the higher cost?
There’s one legitimate use case: algorithmic traders who need absolute price precision with zero spread variation (however small) to backtest and execute accurately according to a built mathematical model. For this group, paying extra fixed commission to entirely remove the floating-spread variable can deliver value beyond a pure cost calculation — though this is a narrow use case, not applicable to the vast majority of retail traders.
Frequently asked questions about FBS
Should you avoid the Zero Spread account entirely? Not necessarily entirely — but before choosing it, compare total cost directly against ECN for your expected trading volume, rather than assuming from the “Zero Spread” name that it’s the cheapest option.
Why does ECN have lower leverage (1:500) than the others (1:3000)? This could be a risk-management measure by FBS specifically for the ECN client group (typically higher volume), though the exact reason isn’t detailed publicly — confirm directly if this matters in your decision.
Which entity do Vietnamese clients fall under? Likely FSC Belize (offshore) unless there’s a separate arrangement — confirm directly during registration to know the exact leverage and legal protection that applies.
Should you trust review sites that rank Zero Spread highly? Be cautious — some review sites earn higher affiliate commissions from referring accounts with higher trading commission, creating a potential incentive to rank these accounts more favorably than the real value they deliver to traders.
Looking for a broker with a low entry threshold and need to understand its real fee structure? FBS lets you start from just $1 with full MT4/MT5 support.
FBS currently has a welcome offer for new accounts for a limited time — terms may change, check directly when you register.
Forex and CFD trading involves leverage and carries a high risk of capital loss. This article is for informational purposes only and is not investment advice. Learn more at FXM680’s Forex Academy.