FBS South Africa Review – 5 things you should know about Trade Stone LTD

FBS South Africa Review – 5 things you should know about Trade Stone LTD

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If you are a South African client and are currently looking for a legitimate, dependable broker to start trading with, the South African division of FBS might be a good choice. Be warned that FBS South Africa is strictly directed at clients from that country but if you still think that the broker is a good fit for you, there would be no problem opening an account with one of the other branches of FBS as the company is also regulated in Cyprus, Belize and Australia. With that being said, let’s dive in and see who this broker is and what makes them a worthwhile alternative for new and experienced traders alike.

FBS South Africa REGULATION AND SAFETY OF FUNDS

FBS South Africa is the South African division of the well-known broker FBS, owned by FBS Markets Inc. The company was founded in 2009 and initially obtained a license in Belize. Later on, they also became regulated in Cyprus and started targeting the European markets. Licenses in Australia and South Africa followed. In South Africa, the company can be found in the Financial Sector Conduct Authority (FSCA) of South Africa under the name TRADE STONE SA LTD.

FBS  gained popularity in the trading community relatively fast because of the good terms it offers, the good customer service and the high level of transparency it has been maintaining over the past decade. So it is no surprise that the broker has won numerous international awards such as Most Transparent Forex Broker – 2018, Best Forex Trading Account 2018, Best Copy Trading Application Global – 2018, Best Forex Broker Asia-2018, Most Progressive Forex Broker Europe 2019, etc.

There is no doubt this broker is completely legitimate and answering to a respected financial authority in more than one country. Clients of FBS South Africa, in particular, can take advantage of some terms that would be impossible for the broker to offer in Europe or Australia – like high leverage even for retail clients or the possibility to get bonuses. Those things should not make you think that FBS South Africa is not regulated – it is just that the laws in regards to forex trading in South Africa are more liberal in comparison to those in the EU or Australia.

That being said, FSCA regulated brokers are not free from responsibility and have to follow a lot of laws to ensure transparency and honesty. The FSCA aims to ensure that clients are treated fairly, protected from hoaxes, and receive sufficient information when investing. So if you live in South Africa, you can be assured that your interests are being taken care of and you have someone to turn to in case you notice any sort of fraudulent activity on your broker’s part. Be sure to check if the broker you plan to work with is in the FCSA register to make sure they are licensed. This is, as always, the safe choice.

FBS South Africa TRADING SOFTWARE

With FBS South Africa, you can tailor your trading experience to your personal needs and likes by choosing one of three different platforms.

FBS South Africa gives you access to both MetaTrader 4 and MetaTrader 5 – the two most popular platforms in the trading world. Over the past 15 years, both versions of MT have built a reputation as highly functional and intuitive trading software. Despite the efforts of different web-based platforms, MT4 and MT5 certainly remain unrivaled in terms of both performance and interface. MT might look a bit more complicated than web platforms at a first glance but it really is not and makes up for the few extra minutes you might spend studying it by offering an abundance of useful tools. Expert Advisors have become a staple for the platform but are far from the only useful function you will get access to. You can also subscribe to other traders’ signals, purchase different indicators and add-ons or try your strategy through back-testing or on a demo account. FBS South Africa’s MetaTrader 4 specifically offers the opportunity to share your account with others and let them copy your trades – and gain additional money when they do so.

Take a look at FBS South Africa MT5 terminal here:

Another option FBS South Africa offers is its own trading app called FBS Trader. This app is a great choice for people who want to trade fast and effortlessly through their phone but still want access to a variety of indicators and possibilities for analysis. The app is no MT but it is easy to use and offers copy trading which is not without significance, especially if you are a beginner.

FBS South Africa TRADING CONDITIONS

As part of the FBS family, FBS South Africa aims to offer more than decent terms to clients. You can choose between six different account types depending on your preferences.

Three zero-commission accounts are available with the minimum deposit being just $1. For those, the leverage varies between 1:1000 and 1:3000 which is definitely a lot – far more than an EU or Aussie-regulated broker could offer you as those brokers can not exceed the leverage of 1:30. This is done with the aim to protect customers because high leverage can lead to big profits and big losses alike. But it is up to you to choose your leverage when you set up an account with FBS South Africa – it was no problem for us to set it on 1:50. The spreads also vary between accounts – ours (for a Cent account) were said to be a floating 1 pip and we indeed got something between 0.8 pips and 1.1 pips on the platforms. The Micro Account, however, has a fixed spread of 3 pips while the Standard one sticks to something around 0.5 pips.

You can also choose a Zero Spread account where the spread is constantly fixed at 0 pips but you have to pay a commission of $20 per lot. As the usual cost of a pip per lot is about $10, it might be most cost-efficient to open one of the zero-commission accounts but again – that is completely up to you and if you like to have a fixed commission in mind when trading, this account might be for you.

You can also open an ECN account – this way, you can directly see how your offers affect the market. This is not something every broker could actually offer you. The starting deposit is higher – $1000 and the leverage lower – 1:500. But if you are an experienced trader, an ECN account could allow you to trade more efficiently and lead to bigger profits.

FBS South Africa DEPOSIT/WITHDRAW METHODS AND FEES

FBS South Africa offers around 100 deposit and withdrawal methods with the most popular being Visa, Neteller, Skrill, Perfect Money and Stickpay. The broker has stated on the website what the commissions for each of these transaction types are as well as how long they take. For example, if you transfer with Visa, you would usually have to wait 15-20 minutes for your transaction to pass and pay a commission of $1 per transaction. A Perfect Money transaction would take the same amount of time but the commission would be a percentage of the amount transferred – 0,50%. So check out those fees and decide carefully which payment method to use. If you are transferring a larger sum, maybe opt for a payment method that has more of a fixed rate instead of one that takes a percentage as this could turn out to be less cost-effective.

Additionally, FBS South Africa is not prohibited from offering bonuses and offers a starting bonus and a 100% Deposit Bonus.

BOTTOM LINE

If you are from South Africa and want to work with a broker with a local license, FBS South Africa is a great choice. Their conditions are good, they offer the choice between of variety of established platforms and you can be sure you are depositing your money with an established, respected company. These things are definitely not to be overlooked when choosing a broker and you should look no further than FBS South Africa.

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