FBS review

FBS Review

Overall, FBS is considered an average risk, with an overall Trust Score of 75 out of 100. FBS is licensed by one Tier-1 Regulator (high trust), two Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust). FBS offers six different retail trading accounts namely an FBS Cent Account, FBS Micro Account, FBS Standard Account, FBS Zero Account, FBS ECN Account, and FBS Crypto Account. FBS is currently not regulated by the CMA of Uganda

Updated : October 14, 2022

Jump to:

Regulation and Safety of Funds

Account Types and Features

Account Registration

Trading Platforms

Range of Markets

Fees

Deposits and Withdrawals

Education and Research

Affiliate Program

Final Verdict

Pros and Cons

FAQ

Overall Rating

Min Deposit

USD 1 / 3,500 Ugandan shilling

Regulators

IFSC, FSCA (South africa), ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Welcome Bonus

$140 (16 373 KESFind out More)

Account Activation Time

24 Hours

FBS Overview

FBS Review Overview Uganda

👉 FBS accepts Ugandan clients and has an average spread from 0.0 pips with $6 commissions round turn. FBS has a maximum leverage ratio up to 1:3000 and there is a demo and Islamic account available. MT4, MT5, FBS Trader platforms are supported. FBS is headquartered in Belize and is regulated by IFSC, CySEC, ASIC, and FSCA.

 

👉 As an online forex and CFD broker that has been around for a long time, FBS is a popular choice for many traders. FBS Inc. was founded in 2009 and has since expanded in size, strength, and financial resources.

 

👉 Subsequently, FBS now has offices and partners in countries around the globe. FBS indicates that hundreds of new online trading accounts are established every day, and both traders and new business associates own these accounts.

 

👉 The FBS CFD trading platform was founded in 2009 by investors who were interested in trading research and technical analysis. FBS provides global markets with transparent and trusted applications for more than 27M CFD traders.

 

👉 Today, FBS is an international brand present in over 150 countries. The brand unites several companies offering their clients opportunities to trade Margin FX and CFDs. The companies include FBS Markets Inc. (licensed by IFSC), Tradestone Ltd. (licensed by CySEC), Intelligent Financial Markets Pty Ltd. (licensed by ASIC), and TRADE STONE SA (PTY) LTD. (licensed by FSCA).

 

👉 This FBS review for Uganda will provide local retail traders with the details that they need to consider whether FBS is suited to their unique trading objectives and needs.

 

FBS Distribution of Traders

FBS Review Distribution of Traders Uganda

👉 FBS currently has the largest market share in these countries:

➡️️ Philippines – 10.2%

➡️️ Malaysia – 8.1%

➡️️ India – 6.6%

➡️️ Republic of Korea – 5.25%

➡️️ Qatar – 4.45%

 

Popularity among traders who choose FBS

🥇 As a CFD and Forex broker in Uganda, FBS does not yet command a major portion of the local market. FBS, on the other hand, continues to be one of the top 50 forex and CFD brokers for Ugandan traders.

FBS At a Glance

🏛 HeadquarteredBelize
🏙 Local office in Kampala?No
✅ Accepts Uganda traders?Yes
🗓 Year Founded2009
📞 Uganda Office Contact NumberNone
🤳 Social Media Platforms• Facebook
• Twitter
• Telegram
• Instagram
• YouTube
⚖️ RegulationIFSC, CySEC, ASIC, FSCA

🪪 License Number• Belize – 000102/198
• Cyprus (Tradestone) – 331/17
⚖️ CMA Uganda RegulationNone
🚫 Regional RestrictionsJapan, United States, Canada, United Kingdom, Myanmar, Brazil, Malaysia, Israel, the Islamic Republic of Iran
☪️ Islamic AccountYes
💻 Demo AccountYes
🛍 Retail Investor Accounts6
📊 PAMM AccountsNo
🤝 Liquidity ProvidersCurrenex
💸 Affiliate ProgramYes
📲 Order ExecutionMarket
📊 Average spread0.0 pips
📞 Margin Call40%
🛑 Stop-Out20%
✅ Crypto trading offered?Yes
💰 Offers a UGX Account?No
👨‍💻 Dedicated Uganda Account Manager?No
📊 Maximum Leverage1:3000
🚫 Leverage Restrictions for Uganda?No
💰 Minimum Deposit 3,500 Ugandan shilling or an equivalent to $1
✅ Uganda Shilling Deposits Allowed?Yes
📊 Active Uganda Trader Stats100,000+
👥 Active Uganda-based FBS customersUnknown
💳 Uganda Daily Forex TurnoverUnknown, overall Forex Daily Trading Volume is over $6.6 Trillion
💵 Deposit and Withdrawal Options• Credit Card
• Debit Card
• Neteller
• Sticpay
• Skrill
• Perfect Money
• Local Exchanges
🏦 Segregated Accounts with Uganda Banks?No
📊 Trading Platforms• FBS Trader
• MetaTrader 4
• MetaTrader 5
✔️ Tradable Assets• Forex
• Precious Metals
• Indices
• Energies
• Stocks
• Exotic Forex
• Cryptocurrencie
💸 Offers USD/UGX currency pair?No
📈 USD/UGX Average SpreadN/A
📉 Offers Uganda Stocks and CFDsNo
🗣 Languages supported on WebsiteEnglish, German, Spanish, French, Italian, Portuguese, Indonesian, Malay, Vietnamese, Turkish, Korean, and others
📞 Customer Support LanguagesMultilingual
⏰ Customer Service Hours24/7
👥 Uganda-based customer support?No
✅ Bonuses and Promotions for Uganda tradersYes
📚 Education for Uganda beginner tradersYes
📱 Proprietary trading softwareYes
💰 Most Successful Ugandan TraderUnknown
✅ Is FBS a safe broker for Ugandan traders?Yes
📊 Rating for FBS Uganda9/10
🤝 Trust score for FBS Uganda75%
👉 Open an account👉 Open Account

FBS Regulation and Safety of Funds

FBS Review Regulation And Safety Uganda

 

FBS Regulation in Uganda

👉 FBS has offices around the globe but not in Uganda. In addition, FBS is also not locally regulated by the Bank of Uganda.

 

FBS Global Regulations

👉 FBS has the following regulation and authorization to offer its services around the globe:

➡️ FBS has been licensed by the International Financial Services Commission (IFSC) in the region, making it a trustworthy international broker.

➡️ Cyprus Securities and Exchange Commission (CySEC) issued license number 331/17 to Cyprus-based Tradestone Ltd, which is FBS’ European affiliate.

➡️ The Australian Securities and Investment Commission (ASIC) regulates Intelligent Financial Markets Pty Ltd (IFM) which also operates under the name IFGM or FBS Oceania under AFSL number 426359.

➡️ In South Africa, FBS operates under the name Trade Stone SA (Pty) Ltd. Under this entity, FBS is regulated and overseen by the Financial Sector Conduct Authority (FSCA) as a Financial Service Provider (FSP) under FSP number 50885.

 

FBS Client Fund Security and Safety Features

👉 European consumers are protected by the Investors Compensation Fund (ICF). For any reason, the ICF can reimburse traders up to €20,000 if their broker goes bankrupt.

 

👉 Customers of FBS who want to create an account must complete the Know Your Client process. To open a trading account, traders must show proof of their identification and residence. Traders should be aware that FBS’ Anti-Money Laundering regulations apply to all deposits and withdrawals from and to unknown accounts.

 

👉 By introducing negative balance protection to retail investor accounts, a Ugandan trader is protected from losing their whole account balance if they lose a significant sum of money.

 

👉 When the market moves against a trader, leverage is typically employed, which increases the size of the position and increases the risk.

 

👉 FBS exclusively works with top-tier banks to protect its customers’ cash. Customers’ money cannot be used to operate FBS’ operations or satisfy its financial obligations. All customers are thoroughly vetted using Proof of Identification and Proof of Residential Address. Additionally, FBS also abides by the Anti-Money-Laundering (AML) regulation and therefore prohibits third-party payments.

 

👉 Lastly, Secure Sockets Layer (SSL), an industry-standard, has been applied across all platforms and websites, and this specific feature is appealing since it deters hackers and cybercriminals.

FBS Account Types and Features

FBS Review Account Types And Features Uganda

 

👉 FBS allows six retail investor accounts to connect Ugandan traders to different financial markets, including the Forex market. FBS’ extensive array of trading choices, which includes alternatives for novices and experts, is readily accessible to traders of all skill levels. The account types that are offered to Ugandan traders are:

➡️ FBS Cent Account

➡️ FBS Micro Account

➡️ FBS Standard Account

➡️ FBS Zero Account

➡️ FBS ECN Account

➡️ FBS Crypto Account

 

FBS Live Trading Accounts

FBS Cent Account

FBS Review Cent Account Uganda

 

👉 The fundamental characteristic of the FBS Cent Account is the usage of cents for both the account balance and all transactions. The Cent Account is a fantastic option for novice traders due to its low-risk trading environment.

 

👉 Experienced traders may use this account as a testing ground for their trading strategies. The Cent Account has a lower minimum opening deposit and permits smaller holdings.

Account FeatureValue
💰 Minimum Deposit3,500 UGX or an equivalent to $1
📊 Average spreadFloating, from 1 pip
💵 CommissionNone
📈 LeverageUp to 1:1000
📊 Maximum opening positions200
💰 Order volumeBetween 0.01 to 1,000 cent lots
💸 Market ExecutionFrom 0.3 seconds, STP
📱 Trading PlatformMetaTrader 4, MetaTrader 5, FBS Trader
💻 Tradable InstrumentsForex, precious metals, indices, energies, forex exotics, stocks
☪️ Swap-Free Islamic OptionYes

 

FBS Micro Account

FBS Review Micro Account Uganda

 

👉 On the Micro Account, you may take advantage of bonuses such as the 100% deposit bonus, the level-up bonus, and cashback.

 

👉 In addition, Ugandan traders can use the Trade Calculator, an excellent trading tool that can assist both beginner and experienced Ugandan traders in accurately calculating their gains and losses.

Account FeatureValue
💰 Minimum Deposit17,000 UGX or an equivalent to $5
📊 Average spreadFixed, from 3 pips
💵 CommissionNone
📈 LeverageUp to 1:3000
📊 Maximum opening positions200
💰 Order volumeBetween 0.01 to 500 lots
💸 Market ExecutionFrom 0.3 seconds, STP
📱 Trading PlatformMetaTrader 4, FBS Trader
💻 Tradable InstrumentsForex and precious metals
☪️ Swap-Free Islamic OptionYes

 

FBS Standard Account

FBS Review Standard Account Uganda

 

👉 This account type is ideal for traders who prefer a more conventional approach to forex trading and will provide them with all they want. The Standard account is distinguished by its competitive spreads and the absence of commission-based trading.

Account FeatureValue
💰 Minimum Deposit350,000 UGX or an equivalent to $100
📊 Average spreadFloating, from 0.5 pip
💵 CommissionNone
📈 LeverageUp to 1:3000
📊 Maximum opening positions200
💰 Order volumeBetween 0.01 to 500 lots
💸 Market ExecutionFrom 0.3 seconds, STP
📱 Trading PlatformMetaTrader 4, MetaTrader 5, FBS Trader
💻 Tradable InstrumentsForex, precious metals, indices, energies, forex exotics, stocks
☪️ Swap-Free Islamic OptionYes

 

FBS Zero Account

FBS Review Zero Account Uganda

 

👉 The most remarkable feature of this account type is that it has a 0-pip spread, which is very low. It is possible to attain higher profit margins and more accurate profit estimations with the use of this strategy. While there will be no spread with this account type, there will be fees charged on the transactions.

Account FeatureValue
💰 Minimum Deposit1,700,000 UGX or an equivalent to $500
📊 Average spreadFixed, 0 pips
💵 CommissionFrom $20 per lot
📈 LeverageUp to 1:3000
📊 Maximum opening positions200
💰 Order volumeBetween 0.01 to 500 lots
💸 Market ExecutionFrom 0.3 seconds, STP
📱 Trading PlatformMetaTrader 4, FBS Trader
💻 Tradable InstrumentsForex, precious metals, Forex Exotics
☪️ Swap-Free Islamic OptionYes

 

FBS ECN Account

FBS Review ECN Account Uganda

 

👉 An Electronic Communications Network (ECN) Account is an account type that is available to professional traders who are seeking the best conditions. This account type removes the need for any intermediaries, allowing deals to be completed quickly and transparently for both buyers and sellers.

Account FeatureValue
💰 Minimum Deposit3,500,000 UGX or an equivalent to $1,000
📊 Average spreadFloating from -1 pip
💵 Commission$6
📈 LeverageUp to 1:500
📊 Maximum opening positionsNone
💰 Order volumeBetween 0.01 to 500 lots
💸 Market ExecutionECN
📱 Trading PlatformMetaTrader 4, FBS Trader
💻 Tradable Instruments25 forex currency pairs
☪️ Swap-Free Islamic OptionNo

 

FBS Crypto Account

FBS Review Crypto Account Uganda

 

👉 Those who trade cryptocurrency will find this account to be an excellent fit for their requirements. A selection of cryptocurrency currencies, cryptocurrency to fiat, cryptocurrency to cryptocurrency, and cryptocurrency to precious metals are all available for exchange with the FBS Crypto Account.

Account FeatureValue
💰 Minimum Deposit3,500 Ugandan Shillings or an equivalent to $1
📊 Average spreadFloating from 1 pip
💵 Commission0.05% for opening and 0.05% for closing positions
📈 Leverage1:5
📊 Maximum opening positions200
💰 Order volumeBetween 0.01 to 500 lots
💸 Market ExecutionFrom 0.3 seconds, STP
📱 Trading PlatformMetaTrader 5
💻 Tradable InstrumentsCryptocurrencies
☪️ Swap-Free Islamic OptionNo

 

FBS Base Account Currencies

👉 Most national currencies can be used when making deposits to trading accounts; these currencies are afterwards translated into the US Dollar and the Euro.

 

👉 Since FBS does not accept accounts that are denominated in NAD, Namibians will be required to pay conversion costs whenever they make a deposit or withdraw money from their accounts. Trading might become costly due to conversion expenses, which can also have an impact on profitability.

 

FBS Demo Account

FBS Review Demo Account Uganda

 

👉 A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital. 

 

👉 There is a certain degree of risk involved when trading financial markets and FBS offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.

 

👉 FBS provides free demo accounts that enable traders to practise with virtual money while utilizing real-time market data to try out their Forex strategy. Using a trial account to learn how to trade is an excellent method to get started.

 

👉 The FBS demo account expires after 40 days, at which time it is automatically erased from the system. When this occurs, Ugandan clients have the option of creating a new one.

 

FBS Islamic Account

FBS Review Islamic Account Uganda

 

👉 Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.

 

👉 This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.

 

👉 With FBS Muslim traders can register a live account and convert it to that of an Islamic account on the following account types:

➡️ FBS Cent Account

➡️ FBS Micro Account

➡️ FBS Standard Account

➡️ FBS Zero Account

How to open an Account with FBS

👉 To register an account with FBS, Ugandan traders can follow these steps:

➡️ Fill in all your personal information, such as your name, email address, phone number, and so on.

➡️ You will get a confirmation link to your email address, which you must click on to complete the procedure.

➡️ You easily register a live account once you have been granted access to your online account administration.

➡️ Select the account type you want to register and the currency that will serve as your base currency.

➡️ Next, you can use the online questionnaire to describe your trading experience and expectations.

➡️ Upload documentation proving your address, identification, and so forth (As per regulatory requirements).

➡️ After clicking “Submit” it may take a few hours or working days for the account to be approved.

➡️ Once the account has been approved, you can make the minimum deposit and start trading.

FBS Vs FXTM Vs Trade Nation – Broker Comparison

FBSFXTMTrade Nation
⚖️ RegulationIFSC, CySECCySEC, FSCA, FCA, FSC MauritiusFCA, ASIC, FSCA, SCB
📱 Trading Platform• MetaTrader 4
• MetaTrader 5
• FBS Trader
• CopyTrade
• MetaTrader 4
• MetaTrader 5
• FXTM Trader
• MetaTrader 4
• Trade Nation
💰 Withdrawal FeeYes,YesNo
📊 Demo AccountYesYesYes
📈 Minimum Deposit3,500 UGX71,019 UGX0 UGX
📈 LeverageUp to 1:30001:2000• 1:30
• 1:200
📊 SpreadFrom 0.0 pips

0.0 pipsFixed, from 0.4 pips
💰 CommissionsFrom $6From $0.4None
✴️ Margin Call/Stop-Out40%/ 20%• 60%/40%
• 80%/50%
50%
✴️ Order ExecutionMarketInstantMarket, Market
💳 No-Deposit BonusYesNoNo
📊 Cent AccountsYesNoNo
📈 Account Types• FBS Cent Account
• FBS Micro Account
• FBS Standard Account
• FBS Zero Account
• FBS ECN Account
• FBS Crypto Account
• Micro Account
• Advantage Account
• Advantage Plus Account
• High leverage
• Low Leverage
⚖️ CMA RegulationNoNoNo
💳 UGX DepositsYesYesNo
📊 Uganda Shilling AccountNoYesNo
👥 Customer Service Hours24/724/524/5
📊 Retail Investor Accounts632
☪️ Islamic AccountYesYesNo

Overall Rating

Min Deposit

USD 1 / 3,500 Ugandan shilling

Regulators

IFSC, FSCA (South africa), ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Welcome Bonus

$140 (16 373 KESFind out More)

Account Activation Time

24 Hours

FBS Trading Platforms

FBS Review Trading Platforms Uganda

👉 FBS offers Ugandan traders a choice between these trading platforms:

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ FBS Trader

 

Desktop Platforms

FBS Review Desktop Platforms Uganda

➡️ MetaTrader 4

➡️ MetaTrader 5

 

👉 Ugandan FBS traders can choose between the desktop versions of MetaTrader 4 and 5 to carry out their trading activities. This pair of trading platforms are the creations of MetaQuotes Software Corporation, which is an organization that specializes in the design and development of trading software.

 

👉 The two platforms are remarkably similar in terms of appearance and share many of the same functionality. The only distinction is that MT5, being a newer version, has additional functionality and has even enhanced some of the capabilities that were previously included in the MT4.

 

👉 Both platforms are accessible as desktop programs for computers running Windows and Mac OS X operating systems.

 

WebTrader Platforms

FBS Review WebTrader Platforms Uganda

➡️ MetaTrader 4

➡️ MetaTrader 5

 

👉 Web Trading with MetaTrader 4 and 5 is very convenient since it does not need you to download or install any software; instead, you just log on online using a browser and you can begin trading immediately.

 

👉 However, Web traders often provide fewer tools and the ability to alter settings, making them a simpler version of the platform.

 

👉 A browser and an internet connection are all that is necessary to trade on the MetaTrader online platform, which eliminates the need for any extra applications. The platform enables users to trade immediately from any browser and operating system, regardless of their location.

 

👉 The following are some of the most important characteristics:

➡️ Trading with a single click. Trading orders can be entered with a single click utilizing predefined criteria, which makes this function very convenient for traders.

➡️ Trading directly from charts. When using MT4 or 5 Namibian traders can see that the order entry buttons are neatly situated inside the chart.

➡️ Watchlists. This gives traders the unique ability to monitor the real-time prices of their preferred instruments and helps traders to keep on top of the market.

➡️ Trade History. You can easily retrieve the transactions that you have recently completed.

➡️ Comprehensive charting capabilities. There are 31 indicators for technical analysis available on the MT5 online platform, which provides powerful charting tools.

➡️ An extensive selection of order types. Market orders, limit orders, stop-loss orders, and stop-limit orders are examples of these types of orders. Conditions such as GTC (Good ‘til Cancelled) and other time-in-force conditions are available.

 

Trading App

FBS Review Trading Platforms Uganda

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ FBS Trader

 

MetaTrader 4 and 5

👉 FBS supports MT4 and MT5 mobile trading applications for Android and iOS. Traders should be aware that there is a loss of functionality compared to desktop trading platforms, such as fewer time frames and charting choices, but they can still cancel and alter existing orders, compute profit and loss, and trade on the charts.

 

FBS Trader

👉 This is the FBS mobile trading platform for mobile trading. The software is compatible with iOS and Android smartphones and can be downloaded from each platform’s app store. It features a straightforward UI and is easy to use.

 

👉 It interacts with MetaTrader platforms and may be used to fund and withdraw from trading accounts, which is very useful. In addition to several features and benefits, the FBS Trader app also provides access to live quotations, charts, and data.

 

FBS Range of Markets

FBS Review Range of Markets Uganda

👉 Ugandan traders can expect the following range of markets from FBS:

➡️ Forex

➡️ Precious Metals

➡️ Indices

➡️ Energies

➡️ Stocks

➡️ Exotic Forex

➡️ Cryptocurrencies

Broker Comparison for Range of Markets

FBSFXTMTrade Nation
➡️️​ ForexYesYesYes
➡️️​ Precious MetalsYesYesYes
➡️️​ ETFsNoNoNo
➡️️​ CFDsYesYesYes
➡️️​ IndicesYesYesYes
➡️️​ StocksYesYesYes
➡️️​ CryptocurrencyYesNoNo
➡️️​ OptionsNoNoNo
➡️️​ EnergiesYesYesYes
➡️️​ BondsNoNoNo

FBS Trading and Non-Trading Fees

Spreads

FBS Review Spreads Uganda

 

👉 FBS traders could expect a broad variety of spreads depending on the financial instrument traded, the account type utilized, and the market conditions (in the case of variable spreads). FBS provides traders with the following spreads, all of which are lower than the industry average:

➡️ FBS Cent Account – Variable, from 1 pip

➡️ FBS Micro Account – Fixed, from 3 pips

➡️ FBS Standard Account – Variable, from 0.5 pips

➡️ FBS Zero Account – Fixed, 0 pips

➡️ FBS ECN Account – Floating, -1 pips

➡️ FBS Crypto Account – Floating, from 1 pip

 

Commissions

FBS Review Commissions Uganda

 

👉 The following FBS retail investor accounts are subject to commissions:

➡️ FBS Zero Account – from $20 per lot

➡️ FBS ECN Account – $6

➡️ FBS Crypto Account – 0.05% for opening as well as 0.05% for closing positions

 

Overnight Fees, Rollovers, or Swaps

FBS Review Overnight Fees Uganda

 

👉 FBS traders could expect a broad variety of spreads depending on the financial instrument traded, the account type utilized, and the market conditions (in the case of variable spreads). FBS provides traders with the following spreads, all of which are lower than the industry average:

➡️ EUR/USD – a long swap of -6.37 and a short swap of -0.69

➡️ XAG/USD – a long swap of -1.77 and a short swap of -1.24

➡️ XAU/USD – a long swap of -2.12 and a short swap of -1.35

➡️ US100 – a long swap of -85.91 and a short swap of -117.2

➡️ XBR/USD – a long swap of -7.74 and a short swap of -6.28

➡️ AAPL – a long swap of -2.58 and a short swap of -2.42

 

Deposit and Withdrawal Fees

👉 FBS charges deposit and withdrawal fees on different payment providers that are available for funding a trading account and withdrawing funds. When traders use Sticpay to fund a trading account, they are subject to a rate of 2.5% plus an additional 0.3 USD commission.

 

👉 FBS charges the following withdrawal fees:

➡️ Credit Card – $1 commission

➡️ Debit Card – $1 commission

➡️ Neteller – 2% with a minimum of $1 and a maximum of $30

➡️ Sticpay – 2.5% + $0.3 commission

➡️ Skrill – 1% + $0.32 commission

➡️ Perfect Money – 0.50% commission

 

Inactivity Fees

👉 If a live trading account goes dormant after 180 days, a $5 fee will apply to the account. In addition, when Ugandans deposit or withdraw funds in UGX, they can expect a currency conversion fee.

 

Currency Conversion Fees

👉 FBS only supports two base currencies that can be used when registering a live trading account. Thus, when Ugandan traders deposit or withdraw in UGX, their funds will be converted to USD or EUR, depending on which currency they set as their account’s base currency. This could lead to currency conversion fees for Ugandan traders.

Overall Rating

Min Deposit

USD 1 / 3,500 Ugandan shilling

Regulators

IFSC, FSCA (South africa), ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Welcome Bonus

$140 (16 373 KESFind out More)

Account Activation Time

24 Hours

FBS Deposits and Withdrawals

FBS Review Deposits And Withdrawals Uganda

 

👉 FBS offers the following deposit and withdrawal methods:

➡️ Credit Card

➡️ Debit Card

➡️ Neteller

➡️ Sticpay

➡️ Skrill

➡️ Perfect Money

➡️ Local Exchanges

 

How to Deposit Funds with FBS

FBS Review How To Deposit Funds Uganda

 

👉 To deposit funds to an account with FBS, Namibian traders can follow these steps:

➡️ Traders can select “Deposit” from the Finances tab in the Personal Area.

➡️ Select a payment method, online or offline, and click on “Deposit”

➡️ Select the trading account and enter the deposit amount.

➡️ Confirm the deposit details on the following page.

 

FBS Fund Withdrawal Process

FBS Review How To Withdraw Funds Uganda

 

👉 To withdraw funds from an account with FBS, Ugandan traders can follow these steps:

➡️ The “Withdrawal” option is found in the Finances section.

➡️ Choose the preferred withdrawal method.

➡️ To withdraw money, choose a trading account from which the cash will be taken.

➡️ Traders must ensure that their withdrawal request is complete.

➡️ Determine how much money must be withdrawn and indicated it in the required field.

➡️ Confirm and submit the withdrawal request.

 

👉 Traders must first check that their account has been authenticated before requesting a withdrawal from the platform. Upon receipt by FBS, requests are dealt with in the order in which they are received. After withdrawal requests have been approved by the company’s management, funds will be released by the FBS staff members.

 

👉 It takes up to 10 days for a bank wire to clear, but other payment methods are rapid or take up to 4 days, which is something traders must take into consideration.

FBS Education and Research

FBS Review Education And Research Uganda

 

Education

👉 FBS offers the following Educational Materials:

➡️ Forex Guidebook

➡️ Tips for Traders

➡️ Webinars

➡️ Educational Video Lessons

➡️ Seminars

➡️ Glossary

➡️ FAQ

 

👉 FBS offers Ugandan traders the following Research and Trading Tools:

➡️ Forex News Feed

➡️ Daily Market Analysis

➡️ Forex TV

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FBS Bonuses and Promotions

FBS Review Bonuses And Promotions Uganda

 

👉 FBS offers Ugandan traders the following bonuses and promotions:

➡️ FBS Traders Parties

➡️ Get a Car from FBS

➡️ Level-up Bonus

➡️ 100% Deposit Bonus

➡️ Cashback

➡️ Cashback

➡️ Quick Start Bonus

➡️ Referral Program

➡️ Risk-free investments

➡️ Loyalty Program

➡️ Trade to Help

➡️ FBS Winning Season

➡️ FBS Leaders’ Summit

➡️ FBS League

➡️ FBS Gift Season

How to open an Affiliate Account with FBS

FBS Review Affiliate Program Uganda

 

👉 To register an Affiliate Account, Ugandans can follow these steps:

➡️ Prospective affiliates can visit the official FBS website and click on “Partnership” from the main menu on the homepage.

➡️ A dropdown menu will appear, and prospective affiliates can click on “Affiliate Program” under “General Info.”

➡️ Next, Ugandans can click on the green “Register a Partner Account” banner.

➡️ A new page will load with the partner registration form. Here, prospective affiliates can enter a valid email address and their full name before selecting the orange “Register as Partner” banner. Ugandans can also register using their Goole and Facebook credentials, or their Apple ID.

➡️ Next, prospective affiliates can connect to FBS using their valid email and they will automatically be logged into the trader’s cabinet where they can select “Partner Area” from the top menu.

➡️ From here, Affiliates will see their partner account number, balance, their Partner ID, and their overall progress.

➡️ This section also provides affiliates with a range of advertisement materials, referral links, comprehensive reports, and rebates.

 

FBS Affiliate Program Features

👉 FBS offers a comprehensive partnership program that may be able to assist partners in earning more money. Commissions for EUR/USD transactions are $15 per lot, and FBS ensures that commission payments are made on a timely basis.

 

👉 In addition, affiliates that participate in the program will have access to a dedicated affiliate manager as well as 24-hour customer service and support. In addition, the FBS Partnership Program provides the following features and incentives to participants:

➡️ It enables business partners to expand their businesses and build wealth over the long term.

➡️ It allows partners to generate money without having to take any risks of their own.

➡️ In addition, partners may be eligible to receive commissions of up to $80 for each lot traded by a client of theirs.

➡️ When a partner is more active in acquiring new consumers, they have a greater chance of earning money.

➡️ A broad variety of promotional products are available for use.

➡️ When a partnership agreement is signed, it is possible to send promotional materials to partners that could be utilized offline.

 

FBS Customer Support

👉 FBS is well-known for its helpful, friendly 24/7 customer support that can be contacted in several ways online, or telephonically.

 

FBS Corporate Social Responsibility

FBS Review Social Responsibility Uganda

 

👉 The most essential thing for FBS is that the people who utilize their trading services can profit from the opportunities for financial independence that the company gives. Additionally, FBS, in collaboration with charity traders, strives to assist people in need all around the world.

 

👉 Ugandan traders can enter a monthly social media contest called Wishes Come True, in which they can share their most cherished wishes with FBS, and the broker will work to make those dreams come true for them.

 

👉 Every year that the contest is organized, the FBS team can see how many people’s lives are transformed because of the random acts of kindness that are a part of it.

 

👉 Every year, a charity trade promotion is organized, and FBS collaborates with a variety of local and international organizations. When a trader deposits money, the amount is increased by 300%, and any commissions made by that trader are donated to a charitable organization. This demonstrates a collaborative effort to make the world a better place.

Verdict on FBS

👉 FBS is a big online worldwide STP/ECN broker with six retail investor accounts that provide superior trading circumstances when compared to other international brokers, and accounts appropriate for both novice and experienced traders.

 

👉 On its entry-level accounts, FBS has a low minimum deposit requirement and offers micro-lot trading, as well as offering reduced spreads on accounts that have greater minimum deposits.

 

👉 However, FBS charges exceptionally high withdrawal fees and only provides accounts in USD and EUR. FBS supports MT4 and MT5 across different devices, in addition to its proprietary trading program.

FBS Current Popularity Trends

👉 According to Google Trends, FBS has had an increase in search on Google in Uganda in the past month. 

FBS Review Google Trend Uganda

Overall Rating

Min Deposit

USD 1 / 3,500 Ugandan shilling

Regulators

IFSC, FSCA (South africa), ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Welcome Bonus

$140 (16 373 KESFind out More)

Account Activation Time

24 Hours

FBS Pros and Cons

✔️ Pros❌ Cons
Ugandan traders can start trading with a low 35,000 UGX deposit on entry-level accountsThere are several non-trading fees such as deposit/withdrawals, inactivity, and currency conversion fees
There is a choice between advanced yet user-friendly trading platformsThere is no UGX-denominated account for Ugandan traders
There are several quick, reliable deposit and withdrawal methodsThere are extremely high spreads on the Cent account
There are several account types, each suiting a different type of traderThere are only 75 financial instruments that can be traded, a much smaller portfolio when compared with the competition
FBS offers social trading opportunities through the CopyTrade platform
There are demo accounts offered and Muslims can convert their live trading account into an Islamic account
There are transparent fee schedules on the website
The demo account can be renewed repeatedly after it expires every 40 days

Frequently Asked Questions

 

Is FBS regulated?

Yes, FBS is well-regulated by the FSCA, CySEC, IFSC, and ASIC. Because of its strict regulation FBS is required to keep client funds in segregated accounts, provide investor protection, and ensure that there is a fair and transparent trading environment for all traders.

 

Where is FBS located?

FBS is headquartered in Belize but operates through three other subsidiaries. These are in South Africa, Australia, and Cyprus with respective authorization and regulation through the FSCA, ASIC, and CySEC.

 

What is the withdrawal time for FBS?

All withdrawals are processed as they are received by FBS. However, it can take between 48 hours up to several business days for the funds to reflect in your bank account.

 

Does FBS have Nasdaq?

Yes, FBS offers Nasdaq as a CFD contract that can be traded either by going long or going short.

 

How many people are using FBS?

FBS has finally hit the big leagues, with over 200 million opened orders and more than 2.5 million active traders in over 100 countries across the world.

 

Does FBS have Volatility 75?

No, FBS does not currently offer Ugandan traders access to VIX.

 

How do I get the $50 FBS no-deposit bonus?

You must first register with FBS and then verify your email address, phone number, and identification. Once everything is completed, you can establish a Bonus account in your FBS Personal Area and get $50 to begin trading.

 

Is FBS safe or a scam?

FBS is a safe broker with a trust score of 78 out of 100. While this makes FBS an average risk, the regulatory status of FBS shows that it is a legitimate and trustworthy entity.

 

Can I trade with $1 on FBS?

Yes, you can trade with $1 on FBS. FBS is one of the few brokers that allows you to place trades with as little as one dollar. Subsequently, because of this, anyone can experiment and begin with an FBS Cent Account.

Conclusion

👉 Now it is your turn to participate:

➡️ Do you have any prior experience with FBS?

➡️ What was the determining factor in your decision to engage with FBS?

➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?

➡️ Have you experienced any issues with FBS such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?

 

👉 Regardless, please share your thoughts in the comments below.

 

Addendum/Disclosure:

👉 No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.

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