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 Singaporean traders a single retail trading account with competitive trading conditions.
- Louis Schoeman
Updated : May 22, 2025
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Overall Rating
- 4.9/5
Min Deposit
7 SGD ($5)
Regulators
IFSC, CySEC, ASIC, FSCA
Trading Desk
MT 4, MT 5, FBS Trader App
Crypto
Yes
Total Pairs
250
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overview
FBS is an appealing brokerage option for Singaporean traders, providing a bespoke trading experience that responds to the region’s particular market conditions and trading styles.
It ensures a blend of security and opportunity with comprehensive licensing from a Tier-1 regulator and competitive trading conditions. Singaporean traders can begin with as little as 7 SGD, a welcoming level that lowers barriers to entry for both rookie and experienced traders.
The availability of a single retail account streamlines the trading process by eliminating the difficulty of selecting among different account types while yet allowing access to a diverse range of tradable assets such as Forex, precious metals, and cryptocurrencies.
FBS offers leverage of up to 1:3000 on Forex trades, which, while increasing risk, also opens up enormous possibilities for profit amplification.
This high leverage is especially beneficial in a sophisticated financial hub like Singapore, where traders are often well-versed in applying advanced trading tactics and risk management approaches.
Furthermore, the lack of commission fees and the availability of tight spreads on major currency pairs such as EUR/USD and local currency combinations such as USD/SGD increase the cost-effectiveness of every deal.
FBS’s dedication to education and customer service is particularly noteworthy. Singaporean traders can continuously upskill and receive assistance as needed, thanks to various educational resources and 24/7 multilingual support.
FBS provides traders with tools to make informed decisions through market analysis, currency calculators, or an economic calendar. To summarise, FBS is well-positioned to meet the different needs of Singapore’s trading community by combining financial knowledge with user-friendly technologies.
At a Glance
| 🏦Headquartered | Belize |
| 🌎Global Offices | Malaysia, Laos, South Africa, Thailand, Brazil, Turkey |
| ➡️Local Market Regulators in Singapore | Monetary Authority of Singapore (MAS) |
| 💷Foreign Direct Investment in Singapore | 195 billion USD (2022) |
| 💶Foreign Exchange Reserves in Singapore | 461.1 billion SGD (November 2023) |
| 🌟 Local office in Singapore? | None |
| 👤Governor of SEC in Singapore | None, the chairman of the MAS is Lawrence Wong |
| 🫴🏻 Accepts Singapore Traders? | ✅ Yes |
| 🔢 Year Founded | 2009 |
| ☎️Singapore Office Contact Number | None |
| 📱Social Media Platforms | Facebook X Telegram YouTube |
| ⌛Regulation | IFSC, CySEC, ASIC, FSCA |
| 1️⃣Tier-1 Licenses | Australian Securities and Exchange Commission (ASIC) |
| 2️⃣Tier-2 Licenses | Cyprus Securities and Exchange Commission (CySEC) Financial Sector Conduct Authority (FSCA) |
| 3️⃣Tier-3 Licenses | International Financial Service Commission (IFSC) in Belize |
| 🔢 License Number | Belize – 000102/198 Cyprus (Tradestone) – 331/17 Australia (IFM) – 426359 Singapore (Trade Stone SA) – FSP 50885 |
| ✴️MAS Regulation | None |
| 🌐 Regional Restrictions | Japan, United States, Canada, United Kingdom, Myanmar, Brazil, Malaysia, Israel, the Islamic Republic of Iran |
| ☪️Islamic Account | ✅ Yes |
| 🆓 Demo Account | ✅ Yes |
| ☑️Non-expiring Demo | None |
| 📆 Demo Duration | 45 days |
| 🗂️Retail Investor Accounts | 1 |
| 👉PAMM Accounts | None |
| 💧Liquidity Providers | Currenex |
| 🤝Affiliate Program | ✅ Yes |
| 🧑⚖️Order Execution | Market |
| 📌OCO Orders | None |
| 💻One-Click Trading | ✅ Yes |
| 🚩Scalping | ✅ Yes |
| ⚙️Hedging | ✅ Yes |
| 🗣️Expert Advisors | ✅ Yes |
| 📰 News Trading | ✅ Yes |
| 🛎️Trading API | ✅ Yes |
| 📝Starting spread | 0.7 pips EUR/USD |
| 💴Minimum Commission per Trade | None; only the spread is charged |
| 🖋️Decimal Pricing | 5th decimal pricing after the comma |
| ↘️Margin Call | 30% |
| 🛑 Stop-Out | 10% |
| ⬇️Minimum Trade Size | 0.01 lots |
| ⬆️Maximum Trade Size | 500 lots |
| 🪙Crypto trading offered? | ✅ Yes |
| 🫴🏻 Offers an SGD Account? | None |
| 👤Dedicated Singaporean Account Manager? | None |
| ⬆️Maximum Leverage | 1:3000 |
| ❌Leverage Restrictions for Singaporeans? | None |
| 💵Minimum Deposit (SGD) | 7 SGD ($5) |
| 💴Deposit Currencies | USD, EUR |
| 👍SGD Deposits Allowed? | None |
| ➡️Account Base Currency | USD, EUR |
| 👥Active Singaporean Trader Stats | 50,000+ |
| 👥Active Singapore-based FBS customers | Unknown |
| 📆 Singapore Daily Forex Turnover | 1.2 million SGD |
| 💳Deposit and Withdrawal Options | Credit/Debit Card Skrill Neteller Sticpay Perfect Money |
| ⏰Minimum Withdrawal Time | 5 minutes |
| ⏱️Maximum Estimated Withdrawal Time | 7 business days |
| ✔️Instant Deposits and Instant Withdrawals? | Deposits |
| 🗂️Segregated Accounts with Singaporean Banks? | None |
| 📊Trading Platforms | MetaTrader 4 MetaTrader 5 FBS Trader App |
| 🕰️Trading Platform Time | UTC +3 |
| 🧐 Observe DST Change | ✅ Yes |
| ⌚DST Change Time zone | Eastern European Time (EET) |
| 🛢️Tradable Assets | Forex Precious Metals Indices Energies Stocks Cryptocurrencies |
| 🫴🏻 Offers USD/SGD currency pair? | ✅ Yes |
| 📝USD/SGD Average Spread | 0.4 pips |
| 🫴🏻 Offers Singapore Stocks and CFDs | None |
| 🗣️Languages supported on the Website | English, German, Spanish, French, Italian, Portuguese, Thai, Malay, Vietnamese, Turkish, Korean, and others |
| 🌟 Customer Support Languages | Multilingual |
| 👥Copy Trading Support | No, discontinued on 22 September |
| ⏰Customer Service Hours | 24/7 |
| 🤝Singapore-based customer support? | None |
| 🎁Bonuses and Promotions for Singaporean Traders | None |
| 📖Education for Singaporean beginners | ✅ Yes |
| 🖥️Proprietary trading software | ✅ Yes, App |
| 🎀Most Successful Trader in Singapore | Chew Wei Xiang (±$70 million assets under management) |
| 🍾Is FBS a safe broker for Singaporean Traders? | ✅ Yes |
| 9️⃣Rating for FBS Singapore | 9/10 |
| 🔢 Trust score for FBS Singapore | 75% |
| 🚀Open an account |
Regulation and Safety of Funds
Regulation in Singapore
The Monetary Authority of Singapore (MAS) does not currently regulate FBS. However, FBS global regulations are listed in the table below.
Global Regulations
| 🔍Registered Entity | 🌎Country of Registration | 🔢 Company Reg. | ⌛Regulatory Entity | 📈Tier | 1️⃣License Number/Ref |
| 🥇FBS Markets, Inc. | Belize | N/A | IFSC | 3 | 000102/460 |
| 🥈Tradestone Ltd | Cyprus | 353534 | CySEC | 2 | 331/17 |
| 🥉Intelligent Financial Markets Pty Ltd | Australia | ABN 48 155 185 014 | ASIC | 1 | 426359 |
| 🏆Trade Stone SA (PTY) LTD | South Africa | 2018/514734/07 | FSCA | 2 | FSP 50885 |
Protection of Client Funds
| 🔍Security Measure | ℹ️ Information |
| 🗂️Segregated Accounts | ✅ Yes |
| 👤Compensation Fund Member | ✅ Yes |
| 💵Compensation Amount | 20,000 EUR or 90% of the claim |
| 🎓SSL Certificate | ✅ Yes |
| 2️⃣2FA (Where Applicable) | ✅ Yes |
| ⛔Privacy Policy in Place | ✅ Yes |
| ⚠️Risk Warning Provided | ✅ Yes |
| ❌Negative Balance Protection | ✅ Yes |
| 🛑 Guaranteed Stop-Loss Orders | None |
Security while Trading
FBS provides a secure trading environment for Singaporean traders, as evidenced by its compliance with several regulatory organizations, including a Tier-1 regulator. This multi-tiered oversight demonstrates a strong commitment to following international financial norms and protocols.
Furthermore, FBS protects customer funds using segregated accounts, which keep traders’ capital distinct from the broker’s operational funds, adding a layer of financial security.
SSL encryption for data transfer protects traders’ personal and financial information even more. These safeguards, taken together, provide Singaporean traders with a solid foundation of safety and security when participating in global financial markets.
Pros and Cons
| ✅Pros | ❌Cons |
| FBS ensures client fund security by keeping funds in segregated accounts | The MAS in Singapore does not regulate FBS |
| FBS employs several robust security features to provide a safe trading environment | Investor protection is limited to certain regions, which could exclude Singaporeans |
Is there a compensation fund for FBS traders in case of broker insolvency?
Yes, FBS is a member of a compensation fund that can reimburse traders up to 20,000 EUR, or 90% of the claim, in the event of a broker’s bankruptcy.
Does FBS provide any risk warnings for Singaporean traders?
Yes, FBS offers risk warnings and a privacy policy to ensure traders are informed of the potential dangers of trading.
Awards and Recognition
FBS received the following recent awards and recognition:
✅Best Forex Broker Asia 2022
✅Best Forex Broker Middle East 2022
✅Best Forex Broker Latin America 2022
✅Best Forex Broker South-East Asia 2022
✅Best Forex Broker Europe 2022
✅Best Copy Trading Application Global 2022
✅Best Mobile Trading Platform Asia 2022
✅Best Mobile Trading Platform Middle East 2022
Can I start trading with FBS if I only deposit the minimum amount?
Yes, you can begin trading with FBS after making the required minimum deposit.
What payment methods can I use to make the minimum deposit with FBS?
For the minimum deposit, FBS accepts various payment options, including bank transfers, credit/debit cards, and e-wallets.
Account Types
| 🔍Live Account | 💵Minimum Dep. | 🚀Open an Account | 📝Average Spread | ⌛Average Trading Cost |
| 🥇Retail Account | 7 SGD | 0.7 pips | 7 USD |
Retail Account
FBS’s retail account for Singaporean traders is developed with a user-centric approach, catering to the demands of traders ranging from novices to seasoned market participants.
This account type distinguishes itself through its simplified access to financial markets, offering a single, consolidated platform without the hassle of navigating various account tiers.
One of its key advantages is that it simplifies the verification procedure, which improves the security of transactions and personal information.
The account is outfitted with a variety of tools and features that aid in the execution of good trading methods. Traders can access various analytical tools and instructional resources, especially useful for those wishing to broaden their market knowledge and trading skills.
Including these learning materials directly into the trading environment demonstrates FBS’s dedication to trader education and continuous improvement. In addition, Singaporean traders can leverage modern trading platforms such as MetaTrader 4 and MetaTrader 5 with the retail account.
This compatibility facilitates market analysis, order execution, and automated trading using advanced technology. Its importance lies in enabling technical analysis-based or automation-reliant trade strategies for these traders.
Below are the features that Singaporeans can expect from their FBS retail account:
| 💵Minimum Deposit | 7 SGD ($5) |
| ⌛Average spread | Floating, from 0.7 pips |
| 💴Commission | None; only the spread is charged |
| 📈Leverage | Up to 1:3000 |
| ⬆️Maximum opening positions | 500 |
| ➡️Order volume | Between 0.01 to 500 lots |
| 📈Market Execution | From 0.1 seconds, STP |
| 📊Trading Platform | FBS Trader MetaTrader 4 MetaTrader 5 |
| 🛢️Tradable Instruments | Forex Metals Indices Energies Stock CFDs Crypto CFDs |
| ☪️Swap-Free Islamic Option | ✅ Yes |
| 🚀Open an Account |
Demo Account
With its demo accounts, FBS provides a practical and risk-free approach for novice traders in Singapore to learn the ins and outs of Forex trading.
These accounts are perfect for experimenting with different markets, trading at various times of day, and honing efficient trading methods. Opening a demo account with FBS is a simple and free process usually completed fairly quickly.
The opportunity to trade with virtual funds is a big advantage of the FBS demo account. This configuration allows traders to traverse the Forex market without the risk of real-world deposits. It is a fantastic opportunity to learn how to trade in a risk-free environment.
Traders can practise trading methods, become acquainted with the broker’s trading platform, and test various financial instruments without fear of cash loss.
However, it is crucial to know that FBS demo accounts have expiration dates. If there is no activity for 45 days, they are archived (basically disabled).
When a demo account is archived, its balance is reset to zero, and the account is disabled. A trader must open a new one to continue using a demo account after it has expired. This policy promotes ongoing participation and regular practice.
Islamic Account
FBS’s Forex Islamic Account is specifically created to cater to Muslim clients in Singapore who follow the Islamic faith.
This account type is Sharia-compliant, as earning interest on loans or deposits is prohibited by Sharia law. As a result, it incurs no swaps or interest charges on overnight holdings, which is consistent with Islamic financial norms.
The following illustrates how a Forex Islamic account operates: If you open a long position in EUR/USD, which requires borrowing USD to buy EUR.
Regular accounts would charge 1.5% interest on the borrowed funds ($100,000 from the US Federal Reserve) and earn 0.5% returns on your deposited balance of €95,000 at the European Central Bank.
However, under Islamic principles prohibiting generating profit through usury interest charges, FBS offers its clients Swap-Free options.
These options eliminate these overhead costs while maintaining transparent trading activities without compromising structural integrity for traders who regularly pursue their goals with no-interest exchange services available.
FBS offers a Swap Free account on the retail account to Muslim traders in Singapore. This function is activated in two simple steps, assuring a trading environment that adheres to Islamic beliefs.
Leverage options of 1:30 and 1:500, floating spreads starting at 1 pip, market execution starting at 0.3 seconds, and the ability to trade over 60 instruments are all available with the Islamic account requirements.
Furthermore, this account is accessible via MetaTrader 4 and MetaTrader 5, providing a comprehensive trading experience.
Professional Account
The FBS Professional Account is intended for Singapore traders with advanced trading skills who can demonstrate their ability. To graduate from the Retail to the Professional category, traders must complete an advanced survey and provide legal documentation proving their trading ability.
This account provides higher leverage for all instruments offered by FBS, which can be a considerable advantage for experienced traders. Professional traders in Singapore who want to maximize their trading positions must be able to apply enhanced leverage.
Returning to a Retail account adds another degree of ease, allowing traders to select the account type that best meets their changing needs and strategy.
Pros and Cons
| ✅Pros | ❌Cons |
| FBS does not charge any commission fees on its retail account | There is only one retail account available |
| FBS offers a free demo account and Islamic Account conversion | Singaporeans cannot select SGD as their account base currency |
| There is a low minimum deposit to start using the FBS retail account | The demo account expires after 45 – 90 days |
Does FBS offer a demo account for practice trading?
Yes, FBS offers a demo account for traders to practice trading without risking their money.
Does FBS offer accounts with negative balance protection?
Yes, FBS offers negative balance protection to keep traders from losing more than their initial deposit.
How To Open An Account Step-by-Step
Step 1: Go to the official website and click on the “Open Account” button
Step 2: Complete the online registration form
Users must submit personal information such as their name, email address, and phone number to create a Personal Area.
Step 3: Verify your Account
Following completion of this phase, FBS demands account verification, a routine compliance precaution to maintain security; traders must present identification documents such as a passport or national ID and maybe a utility bill for address verification.
- After successfully proving their identification, traders can choose their chosen trading platform from the available alternatives, which include MetaTrader 4, MetaTrader 5, and the FBS Trader App. After selecting a platform, traders must make an initial deposit, with various payment options available to suit their preferences.
- Finally, Singaporean traders can begin trading once their deposit is confirmed and the funds are reflected in their trading account.
- If assistance is required throughout the registration process, FBS provides customer service through numerous channels for convenience.
What information do I need to provide to open an FBS account?
Personal information such as your name, email address, phone number, and verification documents will be required.
Can I open more than one trading account with FBS?
Yes, traders can open numerous trading accounts with FBS.
Trading Platforms and Software
FBS offers Singaporean traders the following Trading Platforms:
➡️MetaTrader 4
➡️MetaTrader 5
➡️FBS App
MetaTrader 4
FBS’s MetaTrader 4 (MT4) platform is ideal for Singaporean traders who prefer a balance of simplicity and powerful capabilities. Its user-friendly design makes it an excellent alternative for novice and intermediate traders in Singapore.
The platform’s swift order execution capabilities suit Singapore’s financial markets’ fast-paced trading environment well. Furthermore, MT4’s strong charting capabilities are advantageous for
Singaporeans engaged in technical analysis, allowing them to analyze market movements effectively. The customization options of the platform also allow traders to personalize their trading experience to their strategy, which is a key advantage in Singapore’s diversified and dynamic trading market.
MetaTrader 5
MT5 is an enhanced version of MT4 tailored to meet the demands of expert traders in Singapore. The platform boasts advanced analytical tools and extended timeframes, facilitating thorough market analysis.
With multi-asset trading capabilities allowing for seamless transitions between markets, Singaporean investors who trade across different asset classes would highly value this feature.
Additionally, its comprehensive financial trading functions, accompanied by top-notch technical and fundamental research resources, make it a suitable choice for experienced traders looking to gain extensive knowledge about the markets while easily executing complex strategies.
FBS App
Designed with the modern Singaporean trader in mind, the FBS Trader App prioritizes mobility and convenience. This software presents a comprehensive trading solution that enables mobile users to take full control of their accounts seamlessly.
With its user-friendly interface and uncomplicated design, this app is ideal for traders constantly on the go as it allows them to handle transactions efficiently while accessing essential trading tools anytime from anywhere.
The application offers unparalleled ease of use without compromising important features crucial to any successful trade deal, making it particularly advantageous for those desiring more straightforward yet accessible trades.
The real-time data updates and exceptional execution capabilities make the FBS Trader App an invaluable asset tailored towards Singaporeans looking for fast market access coupled with swift decision-making abilities, streamlining their overall experience effortlessly.
Pros and Cons
| ✅Pros | ❌Cons |
| Singaporeans can expect feature-rich platforms | FBS discontinued its social/copy trading features |
| There is a proprietary FBS app for iOS and Android devices | The FBS app has limited functionality compared to the mobile versions of MT4 and 5 |
Are FBS platforms suitable for beginner Singaporean traders?
Yes, FBS platforms, particularly MetaTrader 4, are user-friendly and suited for Singaporean novices.
Can Singaporean traders customize their trading environment on FBS platforms?
Yes, Singaporean traders on FBS platforms can customize their trading environment with various indicators and tools.
Range of Markets
FBS offers Singaporean traders the following Trading Instruments:
➡️Forex
➡️Precious Metals
➡️Indices
➡️Energies
➡️Stocks
➡️Cryptocurrencies
Financial Instruments and Leverage offered by FBS
| 🔍Instrument | 🔢 Number of Assets Offered | 📈Max Leverage Offered |
| ➡️Forex | 71 | 1:3000 |
| ➡️Precious Metals | 8 | 1:333 |
| ➡️Indices | 11 | 1:33 |
| ➡️Energies | 3 | 1:100 |
| ➡️Stocks | 500+ | 1:5 |
| ➡️Cryptocurrencies | 5 | 1:33 |
Pros and Cons
| ✅Pros | ❌Cons |
| There are several markets that Singaporeans can trade with FBS | Singaporeans cannot trade local CFDs such as stocks or indices |
| SGD can be traded against several other currencies | The portfolio of instruments offered by FBS is limited compared to that of other brokers |
Are commodities available for trading with FBS in Singapore?
Yes, Singaporean traders can use FBS to trade commodities such as gold (XAU/USD) and oil (XBR/USD).
Does FBS offer Singaporean traders the ability to trade in their local currency pair, USD/SGD?
Yes, Singaporean traders can trade the USD/SGD currency pair with FBS.
FBS vs Markets.com vs FXCM – Broker Comparison
| 🔍Broker | 🥇FBS | 🥈Markets.com | 🥉FXCM |
| ⌛Regulation | IFSC, CySEC, ASIC, FSCA | ASIC, CySEC, FSCA, FCA, BVI FSC | FCA, ASIC, CySEC, FSCA |
| 🗂️Trading Platform | FBS Trader MetaTrader 4 MetaTrader 5 | Markets.com MetaTrader 4 MetaTrader 5 | Trading Station MetaTrader 4 ZuluTrade Capitalise AI TradingView Pro |
| 💴Withdrawal Fee | ✅ Yes | None | ✅ Yes, bank wire |
| 🆓 Demo Account | ✅ Yes | ✅ Yes | ✅ Yes |
| 💵Min Deposit | 7 SGD | 67 SGD | 67 SGD |
| 📈Leverage | Up to 1:3000 | 1:300 | 1:30 (FCA) 1:400 (Other Reg) |
| ✏️Spread | From 0.7 pips | From 0.6 pips | From 0.2 pips EUR/USD |
| 💷Commissions | $0 | Spread only | Only the spread is charged |
| 🛑 Margin Call/Stop-Out | 30%/ 10% | 50%/30% | 100%/50% |
| 🧑⚖️Order Execution | Market | Instant, Market | Market |
| 💰No-Deposit Bonus | None | None | None |
| 🪙Cent Accounts | ✅ Yes | None | None |
| 🗂️Account Types | Retail Account | Basic Account Classic Account Silver Account Gold Account Platinum Account | Spread Betting CFD Trading Active Trader Professional Trader |
| 🌟 MAS Regulation | None | None | None |
| 📌SGD Deposits | None | None | None |
| ✴️SGD Account | None | None | None |
| 🕰️Customer Service Hours | 24/7 | 24/5 | 24/5 |
| 🗂️Retail Investor Accounts | 1 | 5 | 1 |
| ☪️Islamic Account | ✅ Yes | ✅ Yes | ✅ Yes |
| ⬇️Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
| ⬆️Maximum Trade Size | 500 lots | 100 lots | 50 million per trade on Forex |
| ⏰Minimum Withdrawal Time | 5 minutes | 24 hours | Instant |
| ⏱️Maximum Estimated Withdrawal Time | Up to 7 days | 7 working days | Up to 2 working days |
| ✔️Instant Deposits and Instant Withdrawals? | Deposits | ✅ Yes, Deposits | ✅ Yes |
| 🚀Open an Account | 👉 Click Here | 👉 Click Here |
10 Best Forex Brokers in Singapore
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Official Site
Fees, Spreads and Commissions
Spreads
FBS guarantees competitive spreads depending on the trading instrument and account type. The spread for the popular EUR/USD pair begins at 0.7 pips. The spread on local currency pairs such as USD/SGD can be as little as 0.4 pips.
This minimal spread is very useful for Singaporean forex traders. Other items, like XAG/USD at 0.01 pip, XAU/USD at 1 pip, and tech stocks like APPLE at 0.03 pip, show FBS’s competitive price. The spread for BTC/USD is roughly 8 pips, which is enticing to cryptocurrency traders.
Commissions
FBS stands out for its policy of not charging commissions. Instead, the trading costs are already included in the spread – a feature that simplifies cost evaluation for traders.
Singaporean traders gain from this approach because it eliminates worries about extra trading expenses and facilitates hassle-free expense management.
Overnight Fees
Traders who hold positions overnight should consider swap expenses, which are either credited or debited from the account.
For example, in the EUR/USD pair, the long and short positions swap is -5.46 and 0.61 pips, respectively. The swap rate in local currency trade, such as USD/THB, is roughly -7.1 pips. These costs are critical for tactics using overnight positions.
Deposit and Withdrawal Fees
FBS charges withdrawal fees. The cost for credit/debit cards is between 0.9 and 2 EUR. Skrill charges 1-2%, Perfect Money 0.5%, while Neteller charges 2%. Singaporean traders must factor these fees into their withdrawal plans.
Inactivity Fees
Singaporean traders benefit greatly from removing inactivity fees, eliminating penalties for their infrequent trading. This advantage gives more flexibility to those who trade less often.
Currency Conversion Fees
Currency conversion fees apply to activities involving currency conversion, such as depositing or withdrawing SGD from accounts denominated in USD or EUR. These fees can be substantial, particularly for traders who often transfer funds between their trading and bank accounts.
Pros and Cons
| ✅Pros | ❌Cons |
| FBS charges competitive spreads across instruments, including USD/SGD | Singaporeans might face currency conversion fees |
| There is a commission-free structure in place | While trades are commission-free, the spreads on many instruments might be wide |
| FBS does not charge any deposit fees | There are withdrawal fees charged |
What are the spreads for trading USD/SGD with FBS for Singaporean traders?
The spread for trading USD/SGD with FBS is as low as 0.4 pips for Singaporean traders.
Are there currency conversion fees for Singaporean traders with FBS?
Yes, Singaporean traders may incur currency conversion fees when depositing or withdrawing SGD from an FBS account denominated in USD or EUR.
Deposit and Withdrawal Options
FBS offers Singaporean traders the following deposit and withdrawal methods:
✅Credit/Debit Card
✅Skrill
✅Neteller
✅Sticpay
✅Perfect Money
FBS Deposit Currencies, Deposit and Withdrawal Processing Times
| 📌Payment Method | 💵Deposit Currencies | ⌛Deposit Processing | 📆 Withdrawal Processing |
| 💳Credit/Debit Card | EUR, USD | Instant | 15 min – 7 days |
| 🌟 Skrill | USD | Instant | 15 min – 48 hours |
| ✴️Neteller | USD | Instant | 5 min – 48 hours |
| 🎈Sticpay | USD | Instant | 15 min – 48 hours |
| 🎉Perfect Money | N/A | USD | 15 min – 48 hours |
Pros and Cons
| ✅Pros | ❌Cons |
| FBS offers instant deposits to Singaporeans | Singaporeans cannot deposit or withdraw in SGD |
| Singaporeans can rest assured that their deposits are safe with FBS | There are no instant withdrawals offered |
| There are reliable payment methods available for deposits and withdrawals | FBS does not offer local deposit or withdrawal methods to Singaporeans |
Can Singaporean traders deposit and withdraw in SGD with FBS?
No, FBS does not support SGD as a deposit or withdrawal currency
Is there a minimum deposit amount for Singaporean traders with FBS?
Yes, FBS requires a minimum deposit of 7 SGD ($5) from Singaporean traders.
How to make a Deposit with FBS
To deposit funds to an account with FBS, Singaporean traders can follow these steps:
✅Start by accessing your FBS Personal Area via their website or mobile app.
✅Once logged in, navigate to the ‘Finances’ menu and select the ‘Deposit’ option.
✅Choose your desired deposit method from the options, including credit/debit card, Skrill, Neteller, Perfect Money, or bank transfer.
✅Enter the amount you want to deposit. Check that it is consistent with your trading strategy and the minimum deposit criteria of your chosen account type.
✅Complete any mandatory fields connected to your chosen deposit method, such as credit card or e-wallet information.
✅Examine all of the details and validate the transaction. Depending on the method you select, you may be routed to a secure payment site for additional verification.
How long do FBS Deposits take?
In terms of processing time, FBS deposits are normally processed instantly. Most electronic payment methods, such as credit/debit cards and e-wallets, provide quick deposits, which means the funds should be available in your trading account nearly immediately.
However, processing timeframes can vary slightly depending on the method used and external factors such as bank processing periods.
How quickly are deposits processed for Singaporean traders with FBS?
Most deposits are handled immediately for Singaporean traders with FBS.
Is there a fee for depositing funds using bank transfers for Singaporean traders with FBS?
FBS generally refrains from assessing fees for bank transfer deposits made by Singaporean traders.
How to Withdraw from FBS
To withdraw funds from an account with FBS, Singaporean traders can follow these steps:
✅Log in to the Personal Area of the FBS website or mobile app to access your FBS account.
✅Navigate to the Personal Area’s Finances section and select the ‘Withdrawal’ option.
✅Choose your desired withdrawal method from the FBS options, which include credit/debit card, Skrill, Neteller, Perfect Money, Sticpay, and bank transfer.
✅Enter the amount to be withdrawn. Check that it meets the minimum withdrawal requirements and that your account has sufficient funds.
✅Complete any withdrawal-related information, such as bank account information or e-wallet information.
✅Check the information for completeness before confirming and submitting your withdrawal request.
How long do FBS Withdrawals take?
Withdrawal processing times can vary based on the withdrawal method used. Processing time for electronic payment methods such as e-wallets can be as little as 5 to 20 minutes.
Withdrawals to credit/debit cards may take a little longer, ranging from a few hours to a few days. Bank transfers might take anywhere from a few days to a week.
What should Singaporean traders do if they face issues during the withdrawal process with FBS?
If Singaporean traders have problems with the withdrawal process, they should contact FBS customer service.
Are there any special conditions for first-time withdrawals for Singaporean traders with FBS?
Yes, to guarantee Singaporean traders’ security, first-time withdrawals may necessitate additional verification measures.
Bonuses and Promotions
FBS does not currently offer any bonuses to Singaporean traders.
Affiliate Programs
Singaporean affiliates working with FBS can expect a variety of advantages to help them succeed in the program. The FBS Affiliate Program’s competitive commission structure is one of its main draws.
Affiliates can earn up to 43% of the spread from their clients’ trading activity. This rate is among the market’s most generous, making the program financially appealing.
Furthermore, the program is designed to promote both growth and expansion. Affiliates can use the multi-level Cascades feature to receive a share of the income they recruit from the affiliates. This tiered strategy raises prospective earnings and encourages affiliate network expansion.
FBS provides affiliates with extensive marketing resources and tools, such as diverse advertising materials, website banners, social media promotional material and offline marketing aids.
These adeptly crafted instruments aid the affiliate community in successfully engaging a wide audience by attracting their attention to achieve maximum exposure.
Another key advantage is the consistency with which commissions are paid. FBS distributes commissions daily, ensuring a consistent income stream for active affiliates. This continuous payment strategy can be useful for Singaporean traders who value consistent revenue.
Affiliates can also get help from the FBS Help Centre and read instructive materials. These resources provide advice on increasing revenue and successfully operating an affiliate business.
Furthermore, FBS’s customer service is open 24 hours a day, seven days a week. It offers assistance in several languages, including those spoken in Singapore, guaranteeing that affiliates may get help whenever needed.
How does FBS calculate the partner commission for Singaporean traders?
Singaporean traders in the FBS affiliate program earn a partner commission based on their clients’ trading volume and spread.
Are there any special promotions or bonuses for Singaporean affiliates with FBS?
Yes, FBS has a revenue-share program, commissions, and a cashback refund program.
How To Register an Affiliate Account Step-byStep
To register an Affiliate Account, Singaporean traders can follow these steps:
Step 1: Go to the official website, Click on “Company” And select “FBS IB Program”
Step 2: Click on “Open a Partner Account” banner
Step 3: Complete the online registration form
Step 4: Wait for a confirmation email from FBS
After your account has been validated and activated, you will have access to various promotional materials provided by FBS. These materials, which may include website banners, social media content, and other marketing tools, are intended to help you attract new clients.
- Using the FBS Affiliate dashboard, create your unique referral link. This is the link you will use to refer new clients to FBS.
- Share your referral link on multiple platforms, including your blog, website, and social media. The idea is to get potential traders to sign up with FBS using your link.
- You will earn commissions as you successfully refer new clients who begin trading. The FBS Affiliate Program’s commission structure allows you to earn up to 43% of the spread from the trading actions of clients you introduced.
What are the requirements for Singaporean traders to become an FBS affiliate?
Singaporean traders must complete the registration process and agree to the terms and conditions to become an FBS affiliate.
Is there any cost in opening an affiliate account with FBS for Singaporean traders?
No, there is no charge for Singaporean traders to register an affiliate account with FBS.
Customer Support
| 🫴🏻 Customer Support | 👥FBS Customer Support |
| ⏰Operating Hours | 24/7 |
| 👤Support Languages | English, Portuguese, Thai, Malay, Vietnamese, Arabic, Hindi, Chinese, and more |
| 🗣️Live Chat | ✅ Yes |
| 💻Email Address | ✅ Yes |
| ☎️Telephonic Support | ✅ Yes |
| 4️⃣The overall quality of FBS Support | 4/5 |
Response Time
| 🫴🏻 Support Channel | ⏰Average Response Time | 🕰️User-based Response Time |
| ☎️Phone | 10 minutes | 5 – 7 minutes |
| 1 working day | Same-day | |
| 🗣️Live Chat | 5 – 10 minutes | 2 minutes |
| 📱Social Media | 10 minutes | 5 – 7 minutes |
| 🤝Affiliate | 1 working day (email) | Same-day |
Pros and Cons
| ✅Pros | ❌Cons |
| FBS offers 24/7 customer support to Singaporeans | FBS does not offer local customer support in Singapore |
What type of customer support does FBS offer to Singaporean traders?
FBS offers comprehensive customer service to Singaporean traders, including live chat, email, and phone help, available 24 hours a day, seven days a week.
Are there any dedicated account managers for Singaporean traders at FBS?
Yes, FBS provides Singaporean traders with professional account managers who provide personalized support and advice.
Social Responsibility
FBS discontinued social trading in September 2023.
Corporate Social Responsibility
FBS is dedicated to Corporate Social Responsibility (CSR), actively participating in various programs to positively impact society and improve community well-being.
These initiatives align with the company’s long-term development objectives, focusing on a sustainable future and societal contribution. FBS’s CSR actions help considerably to its positive brand image and client appeal.
The company addresses critical social, environmental, and economic concerns such as education, human rights, and environmental sustainability through caring and humanitarian approaches.
FBS’s involvement with charity foundations for various causes and projects demonstrates its commitment to making a significant worldwide influence.
User Comments and Reviews
🥇“The low entry barrier of 7 SGD with FBS was ideal for me as a novice. The instructional resources started me in the right direction, and the tight spreads on big pairings are noteworthy. To avoid conversion fees, I wish they had local SGD accounts.” – Zachary Anderson (January 2025):
🥈“I’ve been utilizing FBS’s Islamic account, which aligns with my trading principles. The platform’s dedication to meeting a wide range of trading requirements is admirable.” – Liam Robinson (January 2025):
🥉“FBS’s MetaTrader integration is flawless. The execution speeds are excellent, especially on the VPS. This is critical for Singapore since the market moves quickly.” – Rui Ho (December 2023):
In Conclusion
Per our findings, FBS is appealing because of the lack of inactivity fees and the vast range of trading products. The VPS service and Cashback Rebates improve trading experiences, but prices and conditions exist. Furthermore, the rich commission structure of the affiliate program is an added incentive.
Overall, we can conclude that FBS is a balanced alternative for Singaporean traders, combining favourable features with areas that require careful consideration, particularly regarding local regulation and account currency preferences.
Our Insight
In my opinion, FBS is a good option for Indonesian traders. FBS provides an easy-to-use platform with competitive spreads, which is useful for forex trading.
Our Recommendations
✅If withdrawal fees were reduced or eliminated, it would be more appealing for Singaporean traders to retrieve their cash without incurring additional expenditures.
✅Organizing local seminars or webinars would allow Singaporean traders to engage face-to-face, share knowledge, and network within the local trading community.
✅Creating more research tools, market analysis, and trading resources would give traders useful insights and information to help them make informed judgements.
✅It is critical to ensure full compliance with MAS laws to gain the trust of Singaporean traders. FBS should prioritize regulatory compliance to reassure traders about the broker’s legitimacy.
✅Investing in extensive educational materials and resources would allow FBS to compete in educational offerings with rivals. More detailed guidelines, tutorials, and webinars might be included.
✅To entice Singaporean traders to choose FBS as their preferred broker, consider giving customized promotions and bonuses tailored specifically for them.
✅Fostering a trading community through forums, social media groups, or other platforms would foster a sense of belonging and collaboration among Singaporean traders.
✅To provide additional protection and confidence for Singaporean traders, FBS should consider seeking a regulatory licence from the Monetary Authority of Singapore (MAS). This would increase their trust in the broker’s operations.
✅Improving customer service during busy market hours would minimize response times and improve the overall customer experience, particularly when traders require quick assistance.
✅Integrating more payment methods that allow SGD transactions would simplify and expedite the deposit and withdrawal procedures for Singaporean traders.
✅Introducing Singapore Dollar (SGD) accounts will reduce currency translation fees for Singaporean traders, making trading more cost-effective.
✅FBS should broaden its retail account offerings to accommodate a wider range of trading tastes and skill levels. More account options would appeal to a broader spectrum of traders.
✅Extending the demo account expiration term would give traders more time to practice and become acquainted with the platform, boosting their trading skills.
✅Following the industry trend of eliminating inactivity fees would encourage occasional traders who may be hesitant to create accounts due to the concern of incurring additional costs during inactivity periods.
✅Offering the FBS website and trading platforms to Singaporeans would improve accessibility and usability for traders who prefer to communicate in their home language.
✅Extending the number of currency pairs using the Singapore Dollar would cater to local preferences and allow traders to pursue more localized trading techniques.
Pros & Cons
| ✅Pros | ❌Cons |
| The diverse choice of tradable assets on FBS enables Singaporean traders to diversify their portfolios | Although FBS’s leverage can be advantageous, it can also expose Singaporean traders to greater risks |
| FBS offers leverage of up to 1:3000 on forex | FBS charges withdrawal fees on most payment methods |
| The broker’s negative balance protection ensures that Singapore clients do not lose more money than they have in their accounts | Due to the lack of SGD as an account base currency, Singaporean traders may suffer currency conversion fees |
| Singaporeans can trade SGD against other currencies, with competitive trading spreads | While FBS’s demo account is handy, it expires after 45 days |
| Trades with FBS are commission-free, and only the spread is charged | FBS is a market maker, which could lead to a conflict of interest as the broker profits from Singaporeans’ losing trades |
| Singaporean traders benefit from FBS’s market execution model | There are no bonuses offered |
| FBS offers 24/7 customer support across communication channels | FBS discontinued its copy trading service in September 2023 |
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Frequently Asked Questions
Is FBS available in Singapore?
Yes, FBS is available in Singapore, and Singaporeans can open an account with them.
Is FBS legal in Singapore? Is it safe?
Yes, FBS is both dependable and legal. The company has all essential financial licences and is regulated by CySEC, FSCA, ASIC, and IFSC.
Does FBS offer a VPS service for Singaporean traders?
Yes, FBS offers a VPS service, which might be useful for Singaporean traders looking for a stable trading environment.
How long does it take to withdraw from FBS?
Withdrawals from FBS might take 5 minutes to several days, depending on the method used.
Does FBS have Nasdaq 100?
Yes, FBS provides Nasdaq as a CFD on indices under “US100” to Singaporean traders.
Is FBS regulated by the Monetary Authority of Singapore (MAS)?
No, the MAS does not regulate FBS in Singapore.
Is FBS regulated?
Yes, the IFSC in Belize, ASIC in Australia, FSCA in Singapore, and CySEC in Cyprus regulate FBS.
How can I become an FBS affiliate in Singapore?
To become an FBS affiliate in Singapore, go to their website’s FBS Partnership page, complete the registration process, and begin marketing FBS.
What is the average response time for FBS customer support in Singapore?
FBS attempts to reply to customer inquiries in Singapore within a few minutes via live chat and within one working day via email within a few minutes.
What are the advantages of trading with FBS in Singapore?
FBS provides diverse trading products, a cheap minimum deposit, and a high level of investor protection, making it an appealing alternative for Singapore traders.
Is FBS Safe or a Scam?
FBS is a safe and well-regulated broker for Singaporean traders regardless of the broker not being regulated in Singapore by the MAS.
What payment methods can I use to add funds to my FBS account in Singapore?
FBS provides various funding options, including electronic payment systems, credit and debit cards, and bank wire transfers. FBS does not charge any deposit fees or charges for deposits into trading accounts.
Does FBS have VIX 75?
No, FBS does not have VIX 75.
How do I open a demo account with FBS in Singapore?
To open an FBS demo account in Singapore, go to the FBS website, sign up, and choose the demo account option.
