Since science and technology has touched every section of the world. The use of digital currencies and cryptocurrencies have so far helped in business relations, transaction and trading both locally and internationally. Nigeria as a country is not left out in the list of countries who are interested with Forex brokers and traders. A Forex trader is a person who operates in the currency market. His main job is to purchase currencies and sell them to make profit. On the other hand, a Forex broker is not normally a person or an individual but can be said to be a brand, organization, company or firm who are out to provide a platform that enables people to buy and sell foreign currencies.
There are many Forex brokers with different modes and directions of business operations in the market. One of them is FBS Nigeria who will be reviewed and scrutinized in this article. In this article, you will know everything about FBS Nigeria, about the company, method of operation, pros and cons, features, services, how to register with the company, how to buy and sell currencies in their trading platform, payment methods. Any other important information will be made known to you in due course in this post.
Brief Information About the Company
Initially, the company was founded in the year, 2009. With its headquarters in Belize, it operates as a Forex broker and investment enterprise with branches in some other parts of the world like Indonesia, Malaysia, China, Korea, Egypy, Myanar and Thailand. As a brand, they have won so many awards under their belt such as the Best Customer Service Broker Award in the Asia continent in 2016. They have received the legal rights to commence business after being regulated by IFSC and CySEC.
- They offer 6 different trading accounts for their customers.
- Customers and Forex traders are not restricted to using any strategies and robots on their trading platform.
- They have a minimum deposit of $1 which was made to give customers a real trading experience.
- They have a demo account which is free and made for newbies and Forex starters.
- The Micro account has a leverage of 1:3000 and a minimum balance of $5
- A standard account has a initial deposit of $100 and a leverage of up to 1:3000
- The Zero Spread Account has a initial deposit that starts from $500, a commission that starts from $20 and a leverage of 1:3000
- An Unlimited Account has an initial deposit of $500, a leverage of 1:3000, it comes with no trading limits.
- The ECN account has an initial deposit of $1000, a leverage of up to 1:3000.
- A segregated account (separated account) is also available for customers who want their funds to be stored in their personal bank account. This is to ensure safety of funds as 70% of your funds are stored in your bank account while the remaining 30% can be traded on the platform.
- Customers have the choice of using several accounts
- The demo account makes it easy for newbies and new forex traders have the knowledge, expertise and experience of their trading platform.
- They have a customer chat support that is available at all times (24/7)
- The Cent account is cheap as customers can deposit and fund their account with a mimimun of $1, which is not less than ?400 (Nigerian Naira).
- It has high spreads on some trading accounts
- Accouuts like the ECN account, which has a mimium deposit of $1000 can be risky to some customers.
Forex Customer Education
FBS provides frequent market education and analysis for traders at different levels to facilitate trading activities and create room for the Forex traders on their platform to trade successfully.
They have an amazing customer support as clients can contact FBS company representatives by phone, chat support or by mail.
FBS accepts so many payment methods for account deposits such as WebMoney, Bank Wire, Credit Cards, Neteller, Perfect Money and other online payment gateway systems.
The minimum withdrawal amount for bank wire is $200 (USD) and for other payment systems, the minimum amount is $1 (USD).
FBS Nigeria is a Forex broker worthy to try out. With many fraudulent companies out to scam people, they have proven to be reliable to their customers.