FBS Review: Is Your Deposit Safe?

FBS is a Belize-based forex and CFD broker that has been operating since 2017. On paper, it holds regulatory approvals from respected authorities including the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities & Investment Commission (ASIC). Yet the platform has also drawn formal warnings from regulators in Malaysia and Japan, and its WikiFX complaint record tells a different story: a large number of users across multiple countries have reported trouble getting their money back. This article walks through what those complaints actually say, what the regulatory warnings mean, and what any trader considering FBS should check before depositing.

Contents

01

Complaint Patterns: What Users Are Reporting

02

Regulatory Warnings

03

Basic Information

04

Score and Market Presence

05

Final Thoughts

Complaint Patterns: What Users Are Reporting

The most common theme in user complaints about FBS is straightforward: traders deposit funds, trade, and then cannot withdraw. The pattern cuts across countries and account types.

A trader from the Philippines reported in June 2026 that after depositing 3,000 pesos and 48 USD into their wallet, they were unable to withdraw “in many time all of my account wallet and my card.” The complaint remains unresolved.

Screenshot submitted by the user with the complaint (2026-06)

Withdrawal denials are not the only issue. A recurring complaint targets FBS's trade execution. One detailed account came from a German trader who maintained a balance of around one million dollars and had been trading with FBS for several years. In May 2025, they had three pending orders of 10 lots each on EURUSD,totaling 30 lots,set to activate at the Monday market open. According to the user, the opening price was 1.11850 and the executable price was 1.1202, yet FBS executed all three orders at 1.1240. The trader noted that identical positions with two other brokers were executed at the live market price. The broker's explanation,that different liquidity providers caused the discrepancy,was rejected by the user, who described it as “clearly a lie.”

Screenshot submitted by the user with the complaint (2025-11)

Stop-loss slippage is another pattern that appears across complaints. An Indonesian trader warned that FBS has what they called a “100% rate of the notorious Stop Loss Slip/gap,” claiming that stop-loss orders consistently slipped far beyond the set levels. A separate user from the UAE described “severe slippage” and called the broker “a huge disappointment.”

Price manipulation claims go beyond slippage. In October 2025, a Turkish trader reported that all their USD/TRY positions were forcibly closed at 00:12 due to what FBS showed as a short-term price drop to 41.25. The trader checked multiple sources and found that USD/TRY never dropped below 41.85 anywhere that night. They submitted five order IDs and requested a full investigation and refund.

Screenshot submitted by the user with the complaint (2025-10)

Another user, based in Israel, described a pattern that several complaints echo: losing traders faced no issues, but once they began to grow their accounts, withdrawals became blocked and deposits were rejected. A Vietnamese trader added that crypto deposits triggered AML flags and blocked withdrawals, with bank deposit fees as high as 10%.

It should be noted that not every user reports negative experiences. A user from Malaysia left a positive review praising smooth deposits and withdrawals. However, the volume and geographic spread of withdrawal and execution complaints,across the Philippines, Vietnam, Indonesia, India, Germany, Turkey, UAE, Iraq, and beyond,suggest a systemic pattern rather than isolated incidents.

Regulatory Warnings

According to WikiFX records, FBS is registered with CySEC (license 331/17) through Tradestone Ltd in Cyprus, and with ASIC (license 426359) through Intelligent Financial Markets Pty Ltd in Australia. Both registrations are active.

These registrations do not tell the full story, however. Regulators in Malaysia and Japan have issued formal warnings specifically naming FBS.

The Securities Commission Malaysia (SCM) has listed FBS on its Investor Alert List. The entry flags FBS Malaysia / FX Trade Pro and multiple associated domains for “carrying on unlicensed capital market activities of dealing in securities and derivatives.” The SCM categorizes this as unauthorized activity, meaning FBS was soliciting Malaysian clients without the required license.

Japan's Financial Services Agency (FSA) issued a warning naming FBS Markets Inc. The FSA entry states that the entity “solicited over-the-counter derivative transactions via the internet” without registration, with the conduct traced back to at least August 2015. The FSA categorizes this under “entities conducting financial instruments business without registration.”

Both warnings carry a danger tag in the disclosure records. The CySEC and ASIC registrations do not cover the activities flagged by Malaysia and Japan. In other words, the warnings target FBS's outreach in jurisdictions where it lacks authorization,a red flag for any trader evaluating whether their own country's protections apply.

Basic Information

FBS was established in 2017 and is based in Belize. It offers trading through MetaTrader 4, MetaTrader 5, and a proprietary self-developed platform, supporting desktop and mobile access.

The broker provides multiple account types including Standard and Ultra. The minimum entry deposit is 50 units, and the maximum leverage offered is 1:30. Automated trading through Expert Advisors is permitted. Cryptocurrency trading is not supported.

FBS facilitates deposits and withdrawals through a wide range of channels including bank transfers (BCA, Mandiri, BRI, BNI, CIMB, Permata Bank), Visa and Mastercard, Sticpay, Fasapay, and various QRIS-based e-wallets such as OVO, DANA, GoPay, and Shopee Pay. This broad payment infrastructure reflects the platform's heavy marketing focus on Southeast Asia, particularly Indonesia.

The broker's VPS trading environment has been tested and rated AA Excellent, indicating low latency and stable server performance under test conditions. However, this technical rating stands in tension with the real-world execution complaints reported by users.

Score and Market Presence

WikiFX assigns FBS a score of 2.51 out of 10. This low score reflects the combined weight of the platform's regulatory disclosures, the volume of user complaints, and risk factors identified in WikiFX's assessment framework.

Despite the low score, FBS maintains a substantial market presence. Its influence is rated A, with reach spanning the UAE, Albania, Angola, Argentina, Austria, Australia, Azerbaijan, Bangladesh, Belgium, Bulgaria, and many other countries. Marketing is heavily brand-driven, with nearly 89% of its promotional footprint focused on brand awareness. English, Thai, Arabic, and Malay together account for roughly 90% of its audience language base, with Google generating over 93% of search traffic.

FBS enables comment protection on its WikiFX profile, meaning user reviews are subject to moderation. Readers who want to see the full, unmoderated picture can access the complete complaint records through the WikiFX App.

Final Thoughts

FBS presents a contradictory picture. It holds valid CySEC and ASIC registrations,facts that many less-established brokers cannot claim,and it offers a smooth onboarding experience with popular platforms and broad payment support. Yet the platform has been formally warned by regulators in Malaysia and Japan for operating without authorization in those jurisdictions, and its WikiFX complaint record is dominated by users from multiple countries who say they cannot withdraw their funds or that their trades were executed at prices they cannot verify against the broader market. These are not fringe complaints; they are the central story told by the data.

If you are considering trading with FBS, start by checking whether the entity that would hold your funds,Tradestone Ltd under CySEC or Intelligent Financial Markets Pty Ltd under ASIC,is authorized to serve clients in your country. Deposit only what you can afford to test, execute a small withdrawal early to confirm the process works end to end, and keep the WikiFX App handy to monitor real-time complaint volumes and any changes to the broker's regulatory standing. A registration in one jurisdiction does not guarantee protection in another, and the gap between what a broker promises and what users actually experience can be wide.