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FBS broker scam?

  • #61
  • May 2, 2019 8:09pm May 2, 2019 8:09pm
Quoting RCtrader
{quote} I was trading on the cent account and so I got wiped a number of times. If you want to withdraw money from an FBS account, you have to withdraw what you have deposited first. It means that if you deposited 10 times $2, you'd have to ask 10 times for the same amount.
This is why you should only open accounts with regulated brokers from trusted countries. For me the Marshall Islands is not one of them.
  • #62
  • May 2, 2019 11:22pm May 2, 2019 11:22pm
I just opened account in FBS because they offer a lot of bonuses and advertise a lot!

Thank God I found this forum..maybe I should find another trusted broker..
  • #63
  • May 4, 2019 3:01pm May 4, 2019 3:01pm
now it's very difficult now to find a good broker!
  • #64
  • May 4, 2019 7:55pm May 4, 2019 7:55pm
Quoting shirley89
I just opened account in FBS because they offer a lot of bonuses and advertise a lot! Thank God I found this forum..maybe I should find another trusted broker..
For me a bonus is a trap because, in order to withdraw any money, including the bonus, from the account a person must complete a number of trades or trade a certain volume before being able to withdraw anything from the account including the bonus. I just checked FBS and in order to get a bonus of $100 a person must only open trades of 0.01 lot and trade an amount of $500,000 (5 lots) within a period of 30 trading days (6 weeks) and cannot have more than 5 trades opened at the same time. This means opening and closing 500 trades of 0.01 lot within 30 trading days or an average of 16.67 trades a day but never having more than 5 trades opened at the same time. I have never traded more than about 4-5 trades a day and I cannot see myself opening 17 trades every day for a period of 30 trading days. I think everybody will agree with me that the FBS $100 bonus is a trap.
  • #65
  • May 4, 2019 10:39pm May 4, 2019 10:39pm
Quoting salimc
now it's very difficult now to find a good broker!
Good regulated brokers need to have a fund in case it goes bust. The regulated brokers in Canada, Cyprus, Germany, Greece and the UK meet my criteria. Brokers in Australia and the US are regulated but most don't have a fund in case the broker goes bankrupt. The picture below shows the forex broker with the best protection in the word but I cannot name it since I'm not in the advertising business.
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  • #66
  • May 4, 2019 11:02pm May 4, 2019 11:02pm
Quoting Viviann
{quote} LOL and so this brings us back to the point of REGULATION right? sigh. There are many brokers out there but how many get to have proper regulation?
As far as I'm concerned a broker that is regulated but doesn't have a fund in case it goes bust is not trustworthy. See my post just above.
  • #67
  • May 5, 2019 12:44am May 5, 2019 12:44am
Quoting Hutch
{quote} For me a bonus is a trap because, in order to withdraw any money, including the bonus, from the account a person must complete a number of trades or trade a certain volume before being able to withdraw anything from the account including the bonus. I just checked FBS and in order to get a bonus of $100 a person must only open trades of 0.01 lot and trade an amount of $500,000 (5 lots) within a period of 30 trading days (6 weeks) and cannot have more than 5 trades opened at the same time. This means opening and closing 500 trades of 0.01...
  • #68
  • May 5, 2019 12:47am May 5, 2019 12:47am
Quoting Hutch
{quote} Good regulated brokers need to have a fund in case it goes bust. The regulated brokers in Canada, Cyprus, Germany, Greece and the UK meet my criteria. Brokers in Australia and the US are regulated but most don't have a fund in case the broker goes bankrupt. The picture below shows the forex broker with the best protection in the word but I cannot name it since I'm not in the advertising business. {image}
So UK Brokers maybe the choice! who knows! I have been trading with the Australian brokers without issues, so far.
  • #69
  • May 12, 2019 10:04am May 12, 2019 10:04am
Lol, you guys forgot to mention only trades from 100pips up are counted. T&C #8. A/c will be in demo mode until all T&C met.
  • #70
  • Jul 17, 2019 5:58pm Jul 17, 2019 5:58pm
I wonder why there's people who often keeps saying lies because of a bad understanding, I believe FBS has done nothing wrong, they have on their site listed all the conditions required to receive the 100 bonus, as well as the characteristics of their accounts.
If you read carefully before blaming someone else of your own mistakes, you will realize FBS is a well known and trusty broker, if it has already so many customers, it must be because of something right?
  • #71
  • Jul 18, 2019 3:12am Jul 18, 2019 3:12am
Quoting antonblood63
I wonder why there's people who often keeps saying lies because of a bad understanding, I believe FBS has done nothing wrong, they have on their site listed all the conditions required to receive the 100 bonus, as well as the characteristics of their accounts. If you read carefully before blaming someone else of your own mistakes, you will realize FBS is a well known and trusty broker, if it has already so many customers, it must be because of something right?
I don't think there is a problem with FBS but every year brokers go bust for a reason or another so if the broker doesn't have a compensation fund I just don't bother with it. I got burned once for $46,000 by a broker with no compensation fund and learned from this mistake
Attached Image (click to enlarge)
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  • #72
  • Jul 20, 2019 1:12pm Jul 20, 2019 1:12pm
the broker always offers promotions, I don't think a good broker!
  • #73
  • Jul 21, 2019 3:17am Jul 21, 2019 3:17am
Quoting ar72212
the broker always offers promotions, I don't think a good broker!
I agree 100% with you because good brokers don't need to offer promotions to attract traders. Have a nice weekend all
  • #74
  • Jul 21, 2019 8:59pm Jul 21, 2019 8:59pm
in my point of view..

If you trade with money less than USD 500, no problem deal with this such brokerage, if you are a serious trader (or investor) just deal with regulated brokerage (NFA/FCA/ASIC).
Happy Trading
  • #75
  • Nov 19, 2019 12:30pm Nov 19, 2019 12:30pm
Quoting Hutch
{quote} For me a bonus is a trap because, in order to withdraw any money, including the bonus, from the account a person must complete a number of trades or trade a certain volume before being able to withdraw anything from the account including the bonus.
Profits made from the bonus (not the bonus itself) can be withdrawn at any time

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CVMForex OF All Time Return: na
  • #76
  • Nov 24, 2019 10:56am Nov 24, 2019 10:56am
Quoting aa33030
{quote} Profits made from the bonus (not the bonus itself) can be withdrawn at any time {image} {image} {image} {image}
Are you telling us that the bonus can never be withdrawn?
  • #77
  • Nov 25, 2019 7:46am Nov 25, 2019 7:46am
Quoting Hutch
{quote} Are you telling us that the bonus can never be withdrawn?
Yes, the bonus can be withdrawn after trading the required volume
CVMForex OF All Time Return: na
  • #78
  • Mar 20, 2020 5:51pm Mar 20, 2020 5:51pm
Quoting aa33030
{quote} Yes, the bonus can be withdrawn after trading the required volume

I will open zero fixed spread acc with my scalping EA on FBS, thanks for your experience.
J.N
  • #79
  • Mar 21, 2020 6:35am Mar 21, 2020 6:35am
Quoting aa33030
{quote} Yes, the bonus can be withdrawn after trading the required volume
Could you please tell us all what the required volume is for various account size?
  • #80
  • May 10, 2020 5:09pm May 10, 2020 5:09pm
Quoting Hutch
{quote} Could you please tell us all what the required volume is for various account size?
For clients who do not have a partner (IB), the required lot volume is calculated according to the formula: bonus amount divided by 3 (1 lot on a Cent account = 0.01 standard lot).

Example:
Your deposit: $900
100% bonus: $900
900/3=300 lots

For clients who have a partner (IB), the required lot volume is calculated according to the formula: bonus amount divided by 1 (1 lot on a Cent account = 0.01 standard lot).

Example:
Your deposit: $900
100% bonus $900
900/1=900 lots
CVMForex OF All Time Return: na
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