Even if you are new to the world of trading, you probably know that choosing your broker is the first and probably one of the most important things you will do. Who you trade with is not without significance and that is why you should opt for a legitimate, trustworthy broker with an established brand. Today, we will be reviewing one such broker – FBS Thailand – and explain why this company would be a great choice for Thai clients looking for a broker offering both competitive terms and the safety and security of a renowned brand.
FBS Thailand REGULATION AND SAFETY OF FUNDS
FBS Thailand is the Thai branch of FBS – a broker a lot of traders have probably heard about since the company has a relatively long history and has built a good name for itself due to the high-quality service and great terms it provides. FBS is owned by FBS Markets Inc. which was initially founded in Belize in 2009. Since the broker also wanted to provide financial services to European clients, they soon obtained a CySEC license. Later on, FBS further expanded its brand by becoming regulated in Australia and South Africa. The broker is currently very popular in Asia and offers services in various Asian countries like Thailand, China, Indonesia, South Korea, Malaysia, and Myanmar. FBS has received various awards due to their high level of transparency and the effort they put into providing world-class service. A lot of these awards are presented due to the work the broker has done in Asia – Best Customer Service Broker Asia 2016, Best Forex Brand, Asia 2015, Best Safety of Client Funds Asia 2015, Best broker in Asia-Pacific region 2015, Most Transparent Forex Broker – 2018, Best Forex Trading Account 2018, Best Forex Broker Asia-2018, Best Forex Broker Vietnam 2019.
FBS Thailand is regulated by the local Thai financial authority, the Securities and Exchange Commission (SEC) of Thailand. Such a local license is not mandatory as Thai clients can freely work with any international broker but FBS Thailand has still decided to open a local office. They are more than legitimate and have multiple respected regulatory bodies in multiple countries to answer to. Keep in mind that FBS Thailand is offering financial services to Thai clients exclusively so if you don’t live in Thailand but would still want to work with this broker, find out which branch of FBS is available in your country.
Working with a regulated broker is always the smarter choice. Don’t get tempted by the seemingly amazing terms unlicensed, anonymous brokers claim to offer – someone like FBS Thailand can offer just as amazing terms with the added perks of excellent customer service, highly functional platforms, transparency, and reliability. If you work with such a broker, you will know who and how is handling your money and you can definitely be certain that there is a regulator making sure your broker is following the law. Financial authorities are there to guarantee that your interests and rights are not being derogated by a company and that is why you should always do some research on the matter of your broker’s regulations. FBS Thailand is a more than secure choice since they are a well-established international brand that has always been serious about its regulations.
FBS Thailand BONUSES AND PROMOTIONS
FBS Thailand is free to offer you a bonus as those are not banned in Thailand as they are in Europe, Australia and the US.
You could benefit from a 100% deposit bonus and double the amount of money you have in your account upon depositing. A $15 invite-a-friend bonus is also available – you should just send a referral link provided by the broker to a friend and collect your bonus if that friend downloads the FBS Thailand app.
Additionally, FBS Thailand has a few other more interesting bonuses available for FBS Trader clients specifically – for example, a Level-up bonus of $140 if you download the FBS Personal Area App and trade for 20 out of 40 days. If you decide to open an account and then pass a 7-step trading education program, you can qualify for a $100 Quick Start Bonus. If you are using FBS Trader and have traded at least 5 lots in the past 30 days, you could get a 20% Cashback bonus – the more you trade, the bigger Cashback percentage you could get.
FBS Thailand TRADING SOFTWARE
If you open an account with FBS Thailand, you will be given the choice between a few different trading platforms – all of them a pretty sound choice both for new and experienced traders. The broker uses well-known platforms MetaTrader 4 and MetaTrader 5 as well as FBS Trader – a mobile trading platform that is far less complicated than the MetaTrader software and allows you to trade on the go from your phone. This is not the platform for traders who want access to advanced charting tools and possibilities for detailed analysis – you could turn to either MT4 or MT5 for that. But the app has a user-friendly interface and offers copy-trading which makes it perfect for new traders trying out the waters.
MT4 and MT5 on the other hand are two platforms famous for the many useful tools and functions they offer. These platforms seem more complicated than web-based platforms at first but they are actually quite intuitive and you will quickly get used to their mechanics. Most traders never go back to cheap web platforms and simple trading apps once they have gotten a taste of what the best software in the industry can offer. MT4 and MT5 have virtually any feature you can think of – you can use the platforms’ own Expert Advisors or create your own with the MQL4/MQL5 coding languages, purchase VPSs to keep trading bots always operating, or customize your trading experience with various add-ons and indicators available on the platforms’ market.
There are a few differences between MT4 and MT5 and every trader should decide for themselves which of the two platforms would be a better fit for them. MT5 is the newer version of the software and offers access to more charting tools and indicators – 90 versus 50 on MT4 – as well as more pending order types – 6 and 4 on MT5 and MT4 respectively. But many traders still have a lot of love for the tried-and-tested MT4 so your choice should be determined by your specific needs.
Take a look at FBS Thailand’s MT5 terminal:
FBS Thailand TRADING CONDITIONS
You can choose between as many as six FBS Thailand account types depending on your needs and experience. There are account types that are free of commission (that would be integrated into the spreads) as well as some with a fixed commission.
The zero commission accounts are three – Cent, Micro, and Standard. The minimum deposit with FBS is as little as $1 for the Cent account. The leverage varies between accounts – between 1:1000 and 1:3000 – which is a lot considering the fact that leverage is restricted by law to 1:30 in Europe and Australia, for example. The fact that FBS Thailand could offer such high leverage makes them more competitive as many people would be tempted by the big profits such trading potential could bring. But be careful because such high leverage could also mean huge losses especially for new, inexperienced traders. You can without a problem lower the leverage if you are using the services of FBS Thailand so consider your own knowledge and how well capitalized you are before starting to trade with leverage of 1:1000.
The spreads on our Cent account were 0.9 pips which is around the floating 1 pip FBS Thailand has promised on the website. Spreads are wider on a Micro account – around 3 pips – and a bit tighter on a Standard account – 0.5 pips.
You can, however, get spreads of as low as 0 pips if you open a Zero Spread account – you just have to be willing to pay a commission of $20 per lot. The usual price of a pip per lot is $10 so a Zero Spread account is not a bad choice if you want to have a fixed price the broker would be charging you – but opening a zero-commission account would, generally speaking, be a bit more cost-effective.
FBS Thailands offers ECN accounts with a spread from floating 1 pip, leverage up to 1:500, and a commission of $6 (that is probably not the round-trip commission though). ECN accounts are advanced account types that allow you to see how your own offers affect market prices. Such accounts are only offered by top brokers so FBS Thailand’s proposition of one is definitely not to be neglected. ECN accounts are super-efficient and lead to pretty decent profits if you know what you are doing.
FBS Thailand DEPOSIT/WITHDRAW METHODS AND FEES
There is a variety of deposit and withdrawal methods you could use with FBS Thailand. The most popular ones are Visa, Skrill, Neteller, StickPay and PerfectMoney but you can also use a local exchanger. The broker has taken the time to add details on how much time each transaction type takes and what sort of commission the payment method provider would demand. For example, Visa withdrawals are subject to a fixed $1 commission and take around 15-20 minutes (and never more than 2 days). If you use Neteller, however, you will be paying a percentage of your transaction to the provider – 2%. So this transaction method is not to be preferred when withdrawing larger sums of money as you will be paying a bigger commission.
If you are a Thai trader currently wondering which broker to choose, we would definitely advise you to check out FBS Thailand. They offer all the perks of an established international brand like state-of-the-art platforms, transparency, and top customer service combined with the competitive terms of a local Thai office.