FBS Broker Review – Trading Conditions, Platforms & Fees for Kenyans

Here we examine the fbs broker trading conditions, platforms, fees, and more from the perspective (full review) of Kenyan traders.

Carson O.
10 Min Read

FBS is a well-known international forex and CFD broker that provides online trading services to clients worldwide. Founded in 2009, FBS is regulated in several jurisdictions and accepts Kenyan traders.

In this detailed FBS review, we will examine the broker’s trading conditions, platforms, fees, and more from the perspective of Kenyan traders.

Overview of FBS Broker

  • Regulations: CySEC, IFSC
  • Minimum deposit: $1
  • Trading instruments: Forex, metals, indices, energies, stocks, crypto
  • Platforms: FBS Trader, MetaTrader 4, MetaTrader 5
  • Execution types: Instant Execution, Market Execution
  • Spreads: From 1 pip on major currency pairs
  • Maximum leverage: Up to 1:3000

FBS is licensed and regulated by top-tier authorities like CySEC in Cyprus and IFSC in Belize. This ensures adequate safeguards for trader funds and adherence to strict operational standards.

The company provides access to currency pairs, commodities, indices, stocks, ETFs, and cryptocurrencies. Traders can access global markets using the popular MetaTrader suite and FBS’s proprietary platforms.

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By accepting a minimum deposit of just $1, FBS opens up trading to beginners with small accounts. Traders can benefit from tight spreads, fast execution, and up to 1:3000 leverage.

Next, we will look at the account options available at FBS followed by the trading platforms and tools they offer.

FBS Account Types

FBS offers three main account types suitable for beginner, intermediate, and advanced traders:

Micro Account

  • Minimum deposit: $1
  • Spreads: From 1 pip
  • Commission: No
  • Maximum leverage: 1:1000

The Micro account allows getting started in forex trading with a minimum deposit of just $1. Traders enjoy fixed spreads from 1 pip, no commissions, and access to maximum 1:1000 leverage.

Standard Account

  • Minimum deposit: $100
  • Spreads: From 1 pip
  • Commission: $6 per lot round turn
  • Maximum leverage: 1:3000

The Standard account requires a $100 minimum deposit and offers spreads from 1 pip. Instead of fixed spreads, traders are charged a round-turn commission of $6 per lot. The maximum leverage is 1:3000.

Zero Spread Account

  • Minimum deposit: $500
  • Spreads: 0 pips
  • Commission: $20 per lot round turn
  • Maximum leverage: 1:3000

As the name suggests, the Zero Spread account offers raw spreads with no markup. Traders pay a higher round-turn commission of $20 per lot in exchange for spread-free pricing. The minimum deposit is $500 and maximum leverage is 1:3000.

In addition to the regular accounts above, FBS also offers an Islamic (swap-free) account option that complies with Sharia law.

Next, we take a look at the trading platforms and tools available from FBS.

FBS Trading Platforms

FBS offers its proprietary FBS Trader platform in addition to the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.

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FBS Trader Platform

FBS Trader is the broker’s custom-designed platform built for forex and CFDs trading. Key features include:

  • Intuitive web-based interface requiring no downloads
  • Advanced charting with 100+ technical indicators
  • One-click trading from charts
  • Customizable layout and colour schemes
  • Built-in economic calendar

The web-based FBS Trader platform provides easy access to markets without installations. The responsive interface adapts to desktop, laptop, tablet, and mobile screens.

MetaTrader 4 (MT4)

MT4 is the world’s most popular trading platform. Key features include:

  • Advanced charting capabilities
  • Extensive backtesting options
  • Algorithmic trading via Expert Advisors
  • Custom indicators and trading systems
  • One-click trading and order management
  • Available as desktop, web, and mobile apps

FBS offers MT4 with fast execution and a suite of handy trading tools. Traders can deploy automated strategies or take manual control using the clean UI.

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MetaTrader 5 (MT5)

As the next-gen upgrade to MT4, MT5 comes packed with additional features including:

  • Wider range of markets including stocks and ETFs
  • Additional pending order types
  • Built-in market depth information
  • Economic calendar and Reuters news
  • More timeframes and graphic objects

For diversified trading across forex, stocks, commodities, and indices, FBS offers MT5 with advanced functionality. Like MT4, MT5 is also available across various devices.

In addition to the platforms above, FBS also provides a suite of handy mobile trading apps for Android and iOS devices.

This covers the major trading platforms supported at FBS. Next, we will discuss the typical spreads and fees.

FBS Fees and Spreads

FBS offers competitive all-in costs in line with the industry average. Actual spreads and commissions vary depending on the account type chosen.

Spreads start from 1 pip on major currency pairs for Micro and Standard accounts. Zero Spread accounts have raw spreads with no markup.

Commissions are $6 per lot round turn on Standard accounts and $20 per lot round turn on Zero Spread accounts. Micro accounts have no commissions.

Financing fees apply for holding CFD positions overnight. Long/short swap rates range from -1% to -15% based on the instrument.

Deposit/withdrawal fees are zero for most payment methods. Some options like bank transfers and e-wallets may attract charges.

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Compared to other regulated brokers, FBS offers very low trading costs without compromising on order execution speeds.

Research and Educational Resources

FBS aims to empower traders through education and market research. They provide the following resources:

  • Daily market analytics – Regular technical and fundamental analysis reports on major markets.
  • FBS blogDaily updates on markets, education, product announcements, and more.
  • Video tutorials – On-demand videos explaining forex basics, technical/fundamental analysis, platform guides.
  • E-books – Downloadable ebooks covering beginner to advanced trading concepts.
  • Webinars – Regular live trading webinars with FBS analysts.
  • Glossary – Forex and CFD terminology explained in detail.
  • FAQ section – Common trading and account questions answered.
  • TradingView charts – Advanced TradingView charting integrated into FBS platforms.

For beginner traders, FBS provides ample educational resources to learn forex trading from scratch. Experienced traders can also stay informed through timely market analysis reports.

Customer Support Service

FBS offers customer support through the following channels:

  • 24/5 live chat – Instant chat support available 24 hours 5 days a week.
  • Email support – Email queries are responded to within 24 hours.
  • Local phone numbers – Toll-free local phone support for 50+ countries including Kenya.
  • Multilingual support – Service available in over 20 languages.
  • Social media – Active Facebook, Instagram, Twitter profiles for updates.
  • Telegram community – Join for updates, contests, networking with 20K+ members.
  • bran – Available on Facebook Messenger, answers common account, platform, deposit/withdrawal queries.

FBS aims to resolve trader issues promptly through easily accessible local and international support centers. Response times are quicker during working hours.

Safety of Funds

FBS takes several measures to ensure the safety of client funds:

  • Segregated accounts with reputed banks and brokers to keep trader funds separate.
  • Negative balance protection preventing losses exceeding the account balance.
  • Guaranteed stop loss and take profit rates to limit downside risk.
  • Member of the Investor Compensation Fund (ICF) providing compensation up to €20,000 per person if the broker is unable to meet obligations.
  • Regular audits and compliance reviews to adhere to regulatory standards.
  • 256-bit SSL encryption technology to keep user data and transactions private.
  • No dealing desk intervention for fair trade execution.

FBS exhibits best practices regarding trader fund segregation and protection in line with CySEC and IFSC guidelines.

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Pros and Cons


  • Regulated broker with over 15 million traders worldwide
  • Minimum deposit just $1
  • Tight spreads from 1 pip
  • Fast trade execution with no rejections
  • Choice of proprietary and MT platforms
  • Wide selection of web and mobile apps
  • Plentiful educational and analytical resources
  • Multilingual 24/5 client support via chat, email, phone


  • Inactivity fee applies if no trades in last 6 months
  • Limited CFD product range
  • Cannot change account currency after opening
  • No Islamic account option for MetaTrader


To conclude, FBS is a reliable and recommended forex and CFD broker for Kenyan traders. The combination of low account minimums, tight spreads, fast execution, and plentiful trading tools makes FBS suitable for beginners and experienced traders alike.

While the broker lacks some exotic trading products, the essential offering of forex, commodities, indices, and shares is covered well.

Overall, FBS provides an accessible and competitive trading experience for the Kenyan market. The choice of MetaTrader bridges and proprietary platforms grants flexibility. Extensive localization including Swahili language support demonstrates FBS’s commitment to African traders.

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I am a multi-faceted professional with a strong foundation in Business and Finance, honed since 2020. Additionally, I possess a deep passion for automobiles, serving as an avid car enthusiast. In parallel to my diverse interests, I am also a dedicated student pursuing a career in the medical field.
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