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FBS Review

Review FBS

FBS is a multi-regulated broker offering multilingual 24/7 customer support to South Koreans. The broker offers a lucrative IB rebate program that pays up to $4.73 on EUR/USD. FBS offers competitively tight spreads and no commissions.

Updated : August 21, 2024

Jump to:

Overview

Regulation and Safety of Funds

Awards and Recognition

Account Types and Features

Account Registration

Broker Comparison

Trading Platforms

Range of Markets

Fees

Deposit and Withdrawals

Education and Research

Bonuses and Promotions

Affiliate Programs

Customer Support

Social Responsibility

Final Verdict

Pros and Cons

FAQ

Overall Rating

Min Deposit

USD 5 

Regulators

IFSC, FSCA (south africa), ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5

Crypto

Yes

Islamic Account

Yes

Trading Fees

Low

Account Activation Time

24 Hours

Overview

Overview

 

Let’s explore the broker for South Koreans, the broker that has gained significant attention since 2009. Originating from Belize, they have expanded their reach to become a major player on the global stage, drawing in more than 27 million traders. So, what makes them different?

Firstly, their range of options is quite impressive. They offer a wide range of options, including forex, metals, energies, stocks, and indices. Whether you prefer day trading or long-term strategies, their wide selection of instruments will meet your needs.

 

In addition, their trading platforms are of excellent quality. MetaTrader 4 and 5 are widely recognized as the industry standards, and FBS provides access to both platforms. Additionally, FBS offers its own  Trader platform designed for mobile users.

Now, let’s discuss South Korea. FBS has clearly done its research here. They have observed the increasing interest in global investments among South Korean traders and have customized their services to meet this demand.

 

Their competitive spreads and lightning-fast execution speeds are highly appealing, particularly for individuals who excel in the dynamic forex markets.

Their commitment to the South Korean market is truly impressive. They provide Korean language support, local payment methods, and educational materials in Korean.

They have also partnered with local influencers to establish a stronger connection with the community. It’s evident that they are making a genuine effort to become a part of the South Korean trading scene rather than just being another foreign broker.

 

What trading platforms does FBS provide to South Korean traders?

South Korean traders can choose from MetaTrader 4, MetaTrader 5, or the Trader app.

 

Can South Korean traders use FBS to scalp and hedge?

Yes, the broker supports scalping and hedging trading strategies for South Korean traders.

 

FBS at a Glance

📊 Year Founded2012
🏛 Local Market Regulators in South KoreaCySEC,
FSC,
FSA,
NFA,
MISA,
SCA
🎁 Welcome BonusAvailable
📈 LeverageUp to 1:500
🌎 Ease of Use Rating4/5
📞Customer Support Contact Number+44 2036705890/+357 22 00 99 11
💳 Minimum Deposit (KRW)USD 10 / 13348 KRW
📊 Currency Pairs71
🛍 Account TypesCent, Classic, VIP and Zero Spreads
🪪Affiliate program?Yes
📊 Starting spread0.0 pips (varies by account type)
📱 Trading PlatformsMetaTrader 4, MetaTrader 5, BDSwiss WebTrader
💳Deposit OptionsBank wire,
credit/debit cards,
e-wallets
💵Withdrawal OptionsBank transfer, credit/debit cards,
e-wallets
💸CommissionsYes, for Raw and VIP accounts
🖥️Forex trading toolsEconomic calendar,
Forex calculator,
Trading alerts
🚀Swap FeesYes, applicable for non-Islamic accounts
☪️Islamic account (swap-free)Yes
💻Demo AccountYes
🗣️Live chat availabilityYes
📱Customer Support email address[email protected]
👉 Open Account👉Open Account

Regulation and Safety of Funds

Regulation and Safety of Funds

 

Regulation in South Korea

South Korea’s Financial Services Commission (FSC) does not regulate. However, global regulations are listed in the table below.

 

Global Regulations

📱Registered Entity 🌎Country of Registration ✔️Regulatory Entity 🔎Regulatory Entity📊Tier 💳License Number/Ref
FBS Markets, Inc.BelizeIFSC3000102/460
Tradestone LtdCyprus353534CySEC2331/17
Intelligent Financial Markets Pty LtdAustralia
ABN 48 155 185 014ASIC1426359
Trade Stone SA (PTY) LTDSouth Africa2018/514734/07FSCA2FSP 50885

 

Protection of Client Funds

🔎Security Measure 📱Information
Segregated AccountsYes
Compensation Fund MemberNo
Compensation AmountCompensation Amount 20,000 EUR or 90% of the claim
SSL CertificateYes
2FA (Where Applicable)Yes
Privacy Policy in PlaceYes
Risk Warning ProvidedYes
Negative Balance ProtectionYes
Guaranteed Stop-Loss OrdersYes

 

Are customer funds insured, and to what extent?

Yes, FBS’s customer funds are covered up to 20,000 EUR or 90% of the claim amount, depending on the compensation fund member.

 

What privacy measures does FBS have in place for its clients?

The broker has a privacy policy in place to safeguard client data and maintain confidentiality.

Awards and Recognition

Awards and Recognition

 

FBS’s website features all industry awards that the broker has won, and these are the most recent ones:

  • was honored with the prestigious “Most Trusted Forex Broker 2024” award, a testament to clients’ unwavering trust and reliability in the company as their broker.
  • received the prestigious “Best Forex Trading Support 2024” award, which recognizes the company’s dedication to delivering outstanding customer service and support to its traders.
  • demonstrated exceptional performance in three distinct categories at the World Business Outlook Awards 2023. The company’s Introducing Broker (IB) Program received the
  • prestigious title “Best Introducing Broker Global 2023”, highlighting its success and widespread appeal among partners worldwide.
  • commitment to customer service was again acknowledged with the prestigious “Best Client Support Asia 2023” award, highlighting its highly responsive and localized support system.
  • received the prestigious “Best Forex Broker Africa 2023” award, highlighting the company’s strong offerings and commitment to transparent trading conditions tailored for the African market.

FBS Account Types and Features

FBS Account Types

 

Retail Account

Whether new to trading or have been doing it for years, South Korean traders can choose  Retail Account. Diversifying your portfolio with the retail account is easy since you can trade in various markets, such as forex, metals, and even cryptocurrencies.

One great thing is that there are no commission fees; the only cost is the spread. This makes it easy to know what trading costs you’re subject to.

You can also choose from different trading systems, such as MetaTrader 4, MetaTrader 5, or Trader. Therefore, you can choose the one that works best for you.

Another benefit is that it doesn’t matter how much or how little money you have to trade when you use FBS because you can start with position sizes from as little as 0.01 lots and trade up to 500 lots.

For major forex pairs, FBS offers extremely high leverage of up to 1:3000. However, while this means that you can maximize your profits, you should remember that your potential losses will also be increased.

The best part, though? You only need 6,800 KRW, or about $5, to start. This is a lot less than what other brokers charge. This makes it very simple to start trading, even if you have little money or are new to it.

 

💻 Live Account 📉 Minimum Dep.👉 Open Account📊 Leverage💰 Commissions
➡️ Retail Account6,800 KRW ($5)👉Open Account 1:3000 (Forex major pairs)None; only the spread is charged

 

Demo Account

The demo account is a simulated trading environment that gives South Korean traders a taste of the trading world without the dangers.

This account is funded with a significant sum of virtual money, which the broker does not specify on its website, but it is usually sufficient to provide a genuine trading experience.

South Koreans can use this function to practice trading, try out new tactics, or become acquainted with the trading platform’s different tools and features.

The demo account has the advantage of being free of time limits. South Korean traders may use it for as long as they like, which is especially useful for people new to trading and needing more time to practice without pressure.

We also found that FBS provides a demo version that mirrors their retail account and conditions, allowing traders to simulate situations close to their real account preferences.

South Korean traders can use the demo accounts for MetaTrader 4 and MetaTrader 5 and the exclusive Trader app. These platforms provide a wide range of trading tactics, allowing users to experiment with everything from long-term investments to high-volume day trading approaches.

 

Islamic Account

The broker provides a swap-free option that adheres to the principles of Islamic financing. This account type is intended for traders seeking transactions free of swap or rollover interest on overnight holdings while adhering to Sharia law.

South Korean traders who prefer to trade in line with these principles can choose the Islamic Account, which has the same trading conditions as ordinary accounts but without the swap fees.

To register an Islamic Account, South Korean traders must first open a retail account. They can then request that their account be converted to an Islamic account.

We found that this process can be started by contacting customer service or logging into the website and accessing the personal area.

 

What features are available in the FBS Retail Account for South Korean traders?

The Retail Account for South Korean traders offers competitive floating spreads, significant leverage, and the flexibility to execute transactions fast.

 

Is a demo account available at FBS where South Korean traders can practice trading?

Yes, the broker offers a demo account for South Korean traders to practice trading with virtual funds without incurring financial risk.

How To Open an FBS Account step by step

To register an account, follow these steps:

 

Step 1: Click the “Open Account” button

Visit the official  worldwide website, which is available in Vietnamese for local traders’ convenience.

To begin the registration process, locate and click the “Open Account” button, typically displayed in the top toolbar of the website. Alternatively, click the “Start Trading Now” banner on the homepage.

 

How To Open an FBS Account step 1

 

Step 2: Registration

Next, you will be given two options for registration:

Use a social network to register quickly by connecting with your Google or Facebook account.

To manually set up a new  account by providing your full name and email address.

 

How To Open an FBS Account step 2

 

Step 3: Confirm your email address

Complete the registration form with your full name (according to your government-issued ID), country of residence, phone number, email address, and a secure password.

View your email inbox for a verification link. Click the link to activate your account and confirm your email address.

After email verification, choose the type of account that best suits your trading expertise and needs from FBS’s different options: Retail, Demo, Islamic, or Professional.

Select your preferred trading platform, MetaTrader 4 or MetaTrader 5, for a flawless trading experience. Download the app from the App Store or Google Play for an immersive mobile experience.

To ensure regulatory compliance and account security, complete the identity verification procedure by submitting a copy of your government-issued ID (passport or driver’s license) and a recent utility bill or bank statement as evidence of residency.

You will receive a confirmation email once your account has been verified and confirmed. Fund your account with one of the several deposit methods available by selecting “Vietnam” from the dropdown list of countries.

 

Is there a questionnaire that South Korean traders must complete during the account registration?

Yes, during the account registration process, South Korean traders will complete a questionnaire on their financial knowledge and trading experience.

 

What is the process for South Korean traders to validate their email addresses?

FBS will send South Korean traders a confirmation email, and they must follow the steps to finish the email verification process.

Broker Comparison

🔑Broker🥈FBS🥇BDSwiss🥇Exness
📈RegulationIFSC, CySEC, ASIC, FSCACySEC, FSC, BaFIN, FSA, Mwali International Services AuthorityFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA, CMA
📉Trading PlatformFBS Trader
MetaTrader 4
MetaTrader 5

MetaTrader 4
MetaTrader 5
BDSwiss Mobile
BDSwiss Web

MetaTrader 4
MetaTrader 5
Exness App
Exness Terminal
💵Withdrawal FeeYesNoNo
🆓 Demo AccountYesYesYes
⬇️Min Deposit6,800 KRW ($5)13,600 KRW ($10)136,000 KRW ($10)
✳️LeverageUp to 1:30001:2000
Unlimited
🔢SpreadFrom 0.7 pipsFrom 0.0 pipsVariable, from 0.0 pips
💴Commissions$0From $2From $0.1 per side, per lot
⛔Margin Call/Stop-Out30%/ 10%50%/20%60%/0%
📝Order ExecutionMarketInstant/MarketMarket
💰No-Deposit BonusNoNoNo
🪙Cent AccountsNoYesYes
📊Account TypesRetail Account

Cent Account
Classic Account
VIP Account
Zero Spread Account

Standard Account
Standard Cent Account
Raw Spread Account
Zero Account
Pro Account
Social Standard Account
Social Pro Account

🖋️FSC RegulationNoneNoneNone
➡️KRW DepositsNoneNoYes
💷KRW AccountNoneNoneYes
👥Customer Service Hours24/724/524/7
💳Retail Investor Accounts147
☪️Islamic AccountYesYesYes
📌Minimum Trade Size0.01 lots0.01 pips0.01 lots
📍Maximum Trade Size500 lots50 lotsUnlimited
⏱️Minimum Withdrawal Time15 minutesInstant24 hours
⏰Maximum Estimated Withdrawal TimeUp to 7 daysWithin 24 hours3 days
💶Instant Deposits and Instant WithdrawalsDepositsYesNo
👉 Open Account👉Open Account👉Open Account 👉Open Account

FBS Trading Platforms

FBS Trading Platforms and Software

 

Trader

When we looked into Trader, we were impressed at how it was designed to meet the needs of South Korean traders. The platform’s user-friendly design enables easy navigation and speedy transaction execution.

One significant advantage is compatibility with MetaTrader 4 and MetaTrader 5, making it simple for users already familiar with these popular platforms. Secure mobile trading is a high priority for South Koreans, and the app’s robust security features make it a reality.

This well-planned architecture improves the overall trading experience by making it easy to manage transactions and access accounts anywhere.

 

MetaTrader 4

We had access to MetaTrader 4, providing us with security and confidence. The platform’s extensive suite of trading tools is well-known, and we were delighted with the number of products available to South Korean traders, including Forex and precious metals.

Because of the automated trading capabilities, there are new methods to put up complex trading strategies, and the addition of technical indicators and advanced charting tools allows for in-depth analysis.

South Korean traders can rest easy knowing that their platform is seamlessly connected, giving them a dependable and secure trading environment.

 

MetaTrader 5

When accessed via FBS, MetaTrader 5 improves the trading experience by adding bitcoin and stocks to the current financial instruments.

South Koreans who want to experiment with more complicated trading strategies will find the platform’s support for advanced trading techniques and algorithmic trading quite handy. We were impressed with the integration of an economic calendar and the depth of market characteristics.

These variables enabled us to make smart trading decisions. MetaTrader 5 and services provide a versatile and dynamic trading environment for South Korean traders, welcoming both seasoned experts and amateurs.

 

What customer support options are accessible on the Trader app?

The Trader app provides traders 24-hour, professional, multilingual customer service.

 

Does FBS provide educational resources for using its trading platforms?

Yes, FBS provides educational resources and tutorials to help South Korean traders learn how to use its trading platforms effectively.

Range of Markets

Range of Markets

 

FBS’s range of markets might be smaller than most other brokers offer, but it still provides South Koreans with ample trading opportunities. Here’s what they offer:

  • Forex: offers South Korean traders a variety of currency pairings and leverage of up to 1:3000, enabling large position enhancement. This leverage is beneficial for monitoring currency swings and can be used for aggressive scalping or conservative long-term holdings. Forex majors offer no overnight fees.
  • Stocks: provides South Korean traders with over 550 trading instruments, enabling them to trade worldwide equities, including US corporations. FBS’s connection with MetaTrader platforms and the FBS Trader app ensures a smooth trading experience, particularly for fast order execution.
  • Indices: allows South Korean traders to trade global indexes, allowing them to gauge stock market performance. VPS hosting enhances the trading experience, benefiting those seeking reliable trading conditions. Indices offer leverage for increased returns.
  • Energies: offers South Korean traders secure energy commodities trading with sophisticated technology and SSL certification. VPS hosting reduces latency, allowing quick market changes and quick profit for traders.
  • Precious Metals: South Korean traders can trade precious metals like gold and silver, offering a traditional hedge against inflation and market risks. These metals offer leverage and segregated accounts, ensuring financial safety for those who value financial security.

 

Leverage and Margin

When we looked into services for South Korean traders, we saw they offered incredibly high leverage—up to 1:3000 for main currency pairings. In the market, this is unique as it enables traders to greatly increase their market exposure with a lower initial outlay.

To avoid large losses, FBS does, however, openly explain the dangers associated with high leverage in their client agreement and stress the need to grasp ideas like stop-outs and margin calls.

The commitment FBS has to ethical trading methods impressed us the most. Having recognized the possible hazards connected to leverage, they offer a variety of instructional materials and instruments to give traders the information they need to control their risk properly.

Their “risk calculator” function, available on their trading platforms, helps traders make educated decisions by allowing them to evaluate possible gains and losses before placing a deal. This shows that FBS is dedicated to helping traders use high leverage sensibly and providing it.

 

How many currency pairs does FBS offer to South Korean traders?

The broker offers 72 currency pairs to South Korean traders for trading.

 

Can South Korean traders invest in cryptocurrencies?

Yes, South Korean traders can trade crypto CFDs.

Fees

Fees

 

Spreads

Our research into FBS’s pricing for South Korean traders revealed that the broker offers very competitive spreads for heavily traded currency pairs in particular. For example, the EUR/USD pair starts with a spread of only 0.7 pips.

South Korean traders benefit from this tight spread since it lowers the cost of each transaction, which is profitable for South Koreans when they trade regularly and with considerable volume.

 

Commissions

In contrast to its competitors in the South Korean market, FBS does not impose commissions on most of its trading accounts.

 

Overnight Fees

Positions that stay open overnight after the market closes will attract overnight costs. FBS uses the interest rate disparity between the two currencies involved in the exchange to determine these costs.

Traders from South Korea must be careful of these costs since they can add up, especially for long-term positions. These charges are listed on the website to enhance transparency.

We found that, in compliance with Sharia law, FBS provides swap-free accounts for anyone who would rather not pay swap fees.

 

Deposit and Withdrawal Fees

The broker gives a transparent breakdown of the fees South Koreans can expect when depositing and withdrawing funds from their account. FBS only charges fees when South Koreans use Perfect Money (up to 2%).

Furthermore, FBS also charges fees on withdrawals when South Koreans use these payment methods:

  • Debit/Credit Card – up to 2 EUR.
  • Skrill – Up to 2% plus 0.29 EUR
  • Neteller – Up to 2% plus 1 – 30 USD
  • Perfect Money – 0.5%

 

Inactivity Fees

The fact that FBS does not impose inactivity fees is a huge relief for traders in South Korea, especially if they do not trade frequently.

In our experience, for those who occasionally step away from trading, inactivity fees have the potential to drain account balances gradually. Therefore, South Korean traders can rest easy knowing they won’t incur any additional fees thanks to FBS’s policy.

 

Currency Conversion Fees

When South Korean traders transfer funds in a currency other than their account’s base currency, currency conversion fees are a factor. This usually involves changing KRW to USD or EUR for South Korean traders, depending on their account preferences.

Traders should be aware that their payment providers might impose extra conversion fees; nonetheless, FBS utilizes the current official exchange rates for these conversions.

 

Does FBS charge commission fees for trading in South Korea?

No. they offer commission-free trading, charging only the spread to South Korean traders.

 

Are there any inactivity fees for South Korean traders with accounts?

No, FBS does not charge any inactivity fees for South Korean traders.

FBS Deposits and Withdrawals

FBS Deposits and Withdrawals

 

A unique feature we found is that the broker offers payment methods for each country, ensuring traders can manage their funds more effectively. However, we did notice that while typical methods are supported, local payment systems are not.

Here’s what South Koreans can expect when they deposit and withdraw funds.

 

💳 Payment Method🌎 Country💴Currencies Accepted⏱️Processing Time
💰Debit/Credit Card AllEURInstant – 7 days
🪙NetellerAllUSDInstant – 48 hours
💸Perfect MoneyAllUSDInstant – 48 hours
💳SkrillAllUSDInstant – 48 hours
💸SticpayAllUSDInstant – 48 hours

 

Deposits

How to Deposit using Credit or Debit Card Step by Step

✅Go to the “Finances” area after logging into your Personal Area.

✅Under “Deposit Funds,” choose “Debit/Credit Card” as the payment option.

✅Provide the amount you want to deposit in EUR, then enter your card information.

✅The money should show up in your account immediately after you confirm the transaction or within a week, depending on how long your bank takes to process the request.

 

How to Deposit using e-Wallets or Payment Gateways Step by Step

✅Go to your  Personal section’s “Finances” section.

✅In the “Deposit Funds” area, select your preferred e-wallet or payment gateway(for example, Neteller).

✅Input the amount you wish to deposit in USD and follow the on-screen instructions to link your e-wallet. The funds will be sent to your trading account within 48 hours.

 

Withdrawals

How to Withdraw using Credit or Debit Cards Step by Step

✅After you log in to your Personal Area, navigate to the “Finances” section.

✅To withdraw funds, navigate to “Withdraw Funds” and select “Debit/Credit Card.”

✅After entering your card details, enter the amount you want to withdraw in EUR.

✅Once you approve the withdrawal, your money should be processed within 7 days (although this could vary by bank).

 

How to Withdraw using e-Wallets or Payment Gateways Step by Step

✅Navigate to the “Finances” section in your Personal Area.

✅Go to “Withdraw Funds,” then select Skrill or another e-wallet as your payment option.

✅Ensure your e-wallet account is linked, and then input the withdrawal amount in USD.

✅After submitting the withdrawal request, the funds should be accessible in your e-wallet instantly (or within 48 hours).

 

What is the minimum deposit amount required  for South Korean traders?

The minimum deposit amount FBS requires for South Korean traders is 6,800 KRW ($5).

 

What currencies can South Korean traders use for deposits and withdrawals?

South Korean traders can use USD and EUR for deposits and withdrawals.

10 Best Forex Brokers in South Korea

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

$100

#2

FSCA, CySEC, FCA, DFSA, FSA, CMA

$0

#3

Read Review

CySEC, MWALI, FSCA

$25

#4

CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA

$10

#5

FSCA, FSC, ASIC, CySEC, DFSA

$5

#6

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

$0

#7

Read Review

FSA, CySEC, FSCA, FSC

$10

#8

Read Review

ASIC, CySEC, FSCA, FSA

$100

#9

CySEC, FCA, FSA, FSCA

$100

#10

Read Review

FCA, CMA, FSC

$200

#1

$100

Minimum Deposit

#2

$0

Minimum Deposit

#3

$25

Minimum Deposit

#4

$10

Minimum Deposit

#5

$5

Minimum Deposit

#6

$10

Minimum Deposit

#7

$1

Minimum Deposit

#8

$100

Minimum Deposit

#9

$25

Minimum Deposit

#10

$200

Minimum Deposit

Educational Resources 

Educational Resources 

 

  • Market Analytics: provides full market analytics, such as accurate currency predictions and trade suggestions. This service is very important for traders because it keeps them updated on the latest market trends, which helps them make smart trading choices.
  • Tips for Traders: gives traders useful advice and strategies through suggestions. These tips will help South Korean traders get better at trading and find their way around the forex market more easily.
  • Seminars: holds seminars that can teach South Korean traders new things about trading and how to refine their strategies. The workshops cover many topics, like technical analysis and risk management, which help traders understand how trading works.
  • Currency Converter: The currency converter tool lets traders in South Korea quickly and accurately change currencies. This tool is necessary to keep track of funds and make transactions go smoothly.
  • VIP Analytics: Through VIP analytics, clients in South Korea can get special information and in-depth analysis. This service helps VIP clients make smart trading choices by giving them a better idea of how the market moves.
  • Economic Calendars: South Korean traders can get economic calendars from FBS to help them keep track of important economic events and news. This tool is very important for predicting market instability and making trade plans based on that information.
  • Forex Guidebook: South Korean traders can learn a lot from forex guides. It gives traders a lot of specific information on forex trading and risk management methods, which helps them build a strong knowledge base.
  • MetaTrader 4 Multiterminal: South Korean traders can handle multiple accounts simultaneously with the MetaTrader 4 Multiterminal. This tool makes trading and managing your portfolio easier.
  • VPS: VPS service gives South Korean traders a safe and dependable way to run automatic trading methods and expert advisors without problems, ensuring their consistent trading performance.
  • Webinars: FBS holds webinars for South Korean traders that cover a wide range of topics, such as trading methods and market analysis. These online sessions are led by experts who share useful information and views.
  • Educational Video Lessons: offers online lessons that can help traders in South Korea learn. You can use these lessons to improve your trading information and skills dynamically and entertainingly.
  • Glossary: The glossary is a complete guide for South Korean traders, clearly explaining important trading words and ideas.
  • FAQ: The Frequently Asked Questions (FAQ) part of FBS answers traders’ most common questions and concerns clearly and straightforwardly, helping them find their way around the trading platform and services.
  • Forex Calculators: South Korean traders can use FBS’s forex tools to help them figure out things like pip value, margin needs, and position size. These tools are very important for making trades and managing risks well.

What trading strategies can South Korean traders learn using FBS’s educational content?

The broker educational content covers a wide range of trading strategies, from basic to advanced, suitable for South Korean traders of all skill levels.

 

Can South Korean traders participate in live webinars hosted?

Yes, South Korean traders can participate in live webinars hosted, covering various trading topics and market analyses.

Bonuses and Promotions

While exploring  website, we found that FBS doesn’t currently offer any bonuses or promotions.

However, South Koreans who partner with FBS might be interested in knowing that a lucrative Introducing Broker program pays out according to the partner’s Grade and the instruments their clients trade.

For instance, on Grade 1, a standard lot size of EUR/USD traded can earn $3.3; on Grade 6, these trades could earn $4.73.

How to Register an Affiliate Account with FBS Step-by-Step

 

Step 1: “IB Program”

Go to the webpage. Once there, navigate to the homepage’s top menu and select the “IB Program” option, which is located between the “Trading” and “Trading Tools” sections.

 

How to Register an Affiliate Account with FBS Step 1

 

Step 2: “Open a Partner Account”

  • Read over the details on the partnership page on FBS’s services to its affiliates. This will give you a comprehensive grasp of the advantages and obligations of being an FBS partner.
  • Once you have read the program specifics, click the “Open a Partner Account” option to continue.
  • You’ll be asked to complete a registration form. Ensure the personal information you provide is correct, including your phone number, email address, and complete name.
  • Make sure your password satisfies the security criteria set out. To improve account security, it is advised to use a mix of letters, numbers, and special characters.
  • Examine the affiliate program’s terms and conditions after you’ve entered all the necessary information.
  • Click the relevant button to confirm your registration and submit your application if you agree with the terms and conditions.
  • After submitting your application, you will get an email from FBS at the address you provided. There is a verification link in this email. Click this link to activate your affiliate account and validate your email address.
  • You can then enter your Partner Area after verifying your email. Here, you can start investigating the variety of tools and services that FBS offers to assist you in attracting and managing clients.
  • Your special affiliate link can be found in the Partner Area. FBS will track the clients who arrive from your referral efforts.
  • Use the marketing resources, including banners, widgets, and other promotional tools, that are available in the Partner Area. These can assist you in successfully promoting FBS to prospective customers.
  • Get acquainted with the Partner Area dashboard, which allows you to track the actions of the clients you have referred, see your generated commissions, and obtain comprehensive info to optimize your affiliate plan.
  • Finally, don’t hesitate to contact FBS’s committed support staff if you need any help or have any queries. They are there to help you with every step of the affiliate program.

 

How To Open an FBS Account step 2

 

Affiliate Programs

Features

Based on our review so far, we’re sure that South Koreans can see the benefits that FBS will offer clients. Therefore, South Korean IBs can partner with a reputable brand to provide their clients with transparent and competitive trading conditions, a range of markets, and more.

The lucrative benefits that Introducing Broker (IB) program users can enjoy really amazed us. People can easily start their own trading business with this program, which doesn’t require any initial financial investment.

The most appealing thing is the chance to make a lot of money. Partners can get some of the biggest fees in the business, up to 43% of the spread from their clients’ trades. This is an especially good chance for people who want to start a business that makes money through client referrals.

The broker stands out because they are committed to quick and transparent payment options. Every day, commissions are paid into partner accounts, ensuring that South Korean partners always have a consistent inflow of funds.

Partners can also withdraw their commissions whenever they want, without limits on the amount or frequency. This gives them financial independence.

Furthermore, we found that the broker set up a multi-level partnership scheme that lets partners earn an extra 20% of the income of their affiliate partners. This encourages partners to grow their connection network within South Korea.

To make the program even more advantageous, they give partners complete tools for success. This includes a lot of different kinds of advertising materials, like website ads, content for social media, and offline materials.

We believe that this gives partners everything they need to promote FBS effectively and get more customers.

Finally, partners can also easily access a Help Center, helpful articles, and a useful schedule to help them through the process and ensure they have all the information and support they need to succeed in their business.

 

Can South Korean affiliates access real-time statistics on their referrals?

Yes, South Korean affiliates can access real-time referral statistics through the affiliate dashboard.

 

What languages are supported by the Affiliate Program for South Korean traders?

The Affiliate Program supports multiple languages, including Korean, to accommodate South Korean traders.

Customer Support

🔑Customer Support🥇FBS Customer Support
⏰Operating Hours24/7
🔊Support LanguagesEnglish, Portuguese, Thai, Malay, Vietnamese, Arabic, Hindi, Chinese, and more
👥Email Address✅Yes
☎️Telephonic Support✅Yes
🏆The overall quality of FBS Support4/5

 

Can South Korean affiliates access real-time statistics on their referrals?

Yes, South Korean affiliates can access real-time referral statistics through the affiliate dashboard.

 

What languages are supported by the Affiliate Program for South Korean traders?

The Affiliate Program supports multiple languages, including Korean, to accommodate South Korean traders.

FBS Social Responsibility

While researching FBS’s online presence, we found no specific reference to Corporate Social Responsibility (CSR) on their main website. However, our findings revealed a significant dedication to social efforts, notably in education.

Notably, FBS’s connection with Education Africa stands out, as they work to improve the educational environment at Masibambane College, Johannesburg. This collaboration displays a commitment to increasing educational access and quality in a place where such resources are typically scarce.

By concentrating on education, FBS not only provides individuals with information and skills but also contributes to the community’s overall growth. This strategy is consistent with an increasing trend among firms that realize the value of investing in education and community participation as part of their social duty.

FBS’s engagement in The Citizen magazine podcast demonstrates their continued dedication to educational efforts, particularly in STEM.

Although not clearly mentioned on their website, their actions demonstrate their commitment to social impact, which extends beyond their primary commercial activity. This displays a great attempt to contribute to a better future for both individuals and communities.

FBS User Comments and Reviews

We’ve noticed that the user comments and reviews on FBS vary greatly across review websites. We’ve searched for and found the latest top comments on FBS to give South Koreans an idea of what others are saying about this broker:

  • “I’ve been using FBS for more than six years. I got frustrated at times because I lost trades, but I finally got my account to grow a lot. Their tools are so easy to use, and I like that they offer help in my language. I’ve had a good experience overall, especially with how quickly I was able to withdraw my money.”
  • “It’s great to work with FBS! They have tight spreads, and I love all the different instruments they offer. Also, the customer service is great. If you have any questions or problems, they’re always there to help.”
  • “As a new investor, I wasn’t sure about FBS at first, but their learning tools have made all the difference for me. So well put together and simple to understand are the workshops and video lessons. I’ve learned a lot about how to trade and deal with risks. One bad thing about them is that their platform isn’t always easy to use, but I’m still learning, so that doesn’t bother me.”

Our Recommendations on FBS

From competitive trading conditions, localized content, and payment methods to a lucrative IB program, we believe that FBS could cater to South Koreans. However, based on our review, there are several areas where FBS could improve its offer.

  • While FBS already has competitive spreads, researching the idea of further decreasing spreads, particularly for popular currency pairings among South Korean traders, might make them even more appealing than other brokers on the market.
  • Integrate popular South Korean payment options such as Kakao Pay, Naver Pay, and local bank transfers to make deposits and withdrawals easier for South Korean customers.
  • While FBS provides Korean language assistance, increasing the number of Korean-speaking customer care people and translating more instructional materials into Korean will improve the user experience for local traders.
  • Customize trading tools such as economic calendars, market analysis, and trading signals to focus on events and data related to the South Korean economy and financial markets.
  • Given the popularity of cryptocurrencies in South Korea, FBS may increase its variety of crypto trading pairings, particularly those that use the Korean Won (KRW) as the quote currency.

Pros & Cons

✅Pros❌Cons
South Koreans can use leverage of up to 1:3000, letting them maximize their profitsFBS only offers USD and EUR as account base currencies
FBS offers commission-free trading and tight spreadsThere are limited deposit and withdrawal options for South Koreans
There are several payment options available to South Korean traders to manage their fundsThere are limited educational resources offered in Korean
FBS has an active presence in South KoreaCurrency conversion fees apply

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Final Verdict

In our opinion, FBS stands out as a reputable and adaptable platform for South Korean traders stepping into the world of online Forex and CFD trading.

The broker’s rigorous regulatory control by CySEC and ASIC should offer South Koreans peace of mind, knowing that their assets are safe, even though FBS is not locally regulated.

FBS’s diverse range of trading instruments, which includes everything from minor, major, and exotic forex pairs to cryptocurrencies, provides a diverse trading environment for traders of all types.

 

We also found that the interface with the strong MetaTrader platforms, which feature various advanced tools and automation, is a huge benefit for South Koreans to analyse markets and refine their trading strategies.

The broker genuinely excels with its competitive edge, offering spreads as low as 0.7 pips and leverage options up to 1:3000. These qualities are a large benefit for South Korean traders who want to optimize their profits.

But FBS doesn’t stop there; their dedication to education is obvious in their extensive library of materials, which includes webinars, video lessons, and a detailed Forex handbook.

 

However, no broker is without drawbacks. While they provide a reasonable number of payment options, we discovered a lack of local payment methods, which could be a problem for certain South Korean traders.

While the average spreads are competitive, they might not be the lowest available, especially compared to rival brokers. Furthermore, while the absence of an inactivity fee appears to be a gain, it could lead to complacency in less active traders.

The broker also doesn’t accept KRW as a base currency for accounts, which could lead to expensive currency conversion fees when South Koreans deposit or withdraw in KRW.

However, despite these drawbacks, FBS remains a significant competitor in the forex and CFD markets. It’s a user-friendly platform with plenty of functionality for rookie traders and seasoned professionals.

Our Insight

According to my findings, When it comes to financial services, FBS is a leading global brokerage firm that deals in a wide range of applications, this makes it one of the best options available in different parts of the world. The firm’s trading platforms are easy to use and offer very tight spreads between buying and selling prices.

Frequently Asked Questions

Yes, the broker offers Korean customer service, educational resources, and a website tailored to South Korean traders.

Yes. South Korean traders can participate in  loyalty program, which provides additional benefits and prizes based on their trading volume.

No. While they offer a variety of account currency options, the Korean Won (KRW) is not supported.

The broker offers a variety of leverage options, including a maximum leverage of up to 1:3000 on forex major pairs.

No. While the  broker allows various payment options, we could not confirm the possibility of direct transactions with South Korean banks.

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