FBS

I have been trading with xm.com for the last 7 years. After xm announced they will be lowering their leverage to 30 I started looking for other brokers. This is when I stumbled upon FBS which seemed like a good alternative and they were also running a $50 no deposit bonus.

So I thought I'd give it a shot. I registered an account with them, went through the verification process and received the $50 in my trading account.

The $50 bonus account conditions are as follows: You have to trade a total of 2 lots and make more than $25 in profits in order to be able to withdraw said profits (meaning bonus not included) to an account of your choosing (I chose Skrill). Of course you are only allowed to open one (1) bonus account.

So once I went through verification I received the $50 in my account. I went on to trade a total of 2 lots and made about 117euros in profits. So I immediately tried to withdraw the profits to my skrill account just to check if they were trustworthy. About 30 minutes later I login to fbs.com dashboard to see that my withdrawal request was declined with absolutely no explanation given. They even went as far as to cancel my MT4 account.

The next logical step was to contact their live chat support which I did.

The conversation I had with them went as follows:

Chat started

Alex: hello

Chloe joined the chat

Chloe: Hello! Thank you for contacting FBS support!

How may I help you?

Alex: Hi

Alex: why did my withdrawal request get declined

Chloe: What is your account number?

Alex: 4923200

Chloe: The IT department has detected that you have opened/used more than one bonus account 50 from the same IP address or device. This is NOT allowed. In fact the rule appears here https://my.fbs.com/bonus/bonus50 , point 10. The server saves this information, and, unfortunately the account can not be unblocked.

You were informed with the bonus rules when you opened your account, it is implied that you accepted these rules when you clicked in "open account", and that you had knowledge of the conditions set by the company.

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They claim I opened multiple accounts with them which makes me wonder who is wasting their time opening multiple bonus accounts knowing that in any case if they manage to make a profit they won't be able to withdraw it. I certainly didn't register multiple accounts with them. When I asked them for some kind of proof they couldn't provide any. And I know for sure they won't be able to debunk my claims because I used my home internet connection to register to fbs and I know for a fact that there has been only one registration to fbs.

Also it makes me wonder how, since you receive the $50 only after ID verification has been completed, there can be multiple bonus 50 accounts opened. Does this mean that someone other than me has my ID, the same face as me, the same name, the same birthday as me has opened an FBS account. I really don't see how is that possible. If anyone knows how can they can claim such a thing let me know.

I even tried to deposit money to my FBS account prior to receiving the bonus, thankfully the deposit didn't go through for some reason, otherwise I'd have lost not only my time but also money with them.

In reality I should have been more cautious because they're one of the few companies that still offer no deposit bonus (actually they dont really) when this practice has been outlawed in Europe. And they also offer a 3000:1 leverage.

To conclude, don't waste your time with FBS.com. The experience I had with them indicates me that they're untrustworthy.

Also why would they run a no deposit bonus if they can't fulfil their end of the agreement.

Sorry for the long read.

PS. This is the first time I post a review regarding any service, but I just felt I needed to warn fellow traders.

I am a forex trader since 2010, Before I was trading with diff broker which are good in comparison to FBS.

How I got Scam here is one of my friend said he is trading here to get bonus so I also started here and invest such a big amount near 10000$,

When i started trading on my real account what I found is looks like that someone is controlling my account using some tool.

I placed Trades set TP and SL, I saw that price of TP met and trade also becomes yellow to get closed but what trade did not closed and again price reversed and after few mins SL reached .

This issue happened to me mANY TIMEs and I reported to FBS they says there is nothing like that we cannot help.

And now other issue is when trade placed Server becomes offline mANY TIMEs and when it comes active again found price hits SL.

I was using lot size mostly 1 or 5 and found only that time these cases happened to me.

These ### says use our VPS to trade for this issue, But when I found offline issue on my own Personal Internet then same time i found on vps same issue.

The complete cheat and scam made on my account made loss of total near 7000$ loss in my real account, Hardly I cashout my money rest .

This is not end here,

Many other best brokers does not charges on withdrawals,

But guess what here these scammers charges too much per withdrawal means you need to EARN too much in order to cashout.

Now recently these scammers launched a contest Drive LEXUS from FBS!

Here I traded many lots and got lot of codes which was enough to win at lest 1 tShirt,

Account: 8228299 Standard (USD)

#231754, #675733, #261590, #252271, #879896, #582468, #893076, #304249, #502333, #127680, #347614, #859315, #751701, #839041, #477319, #798388, #582140, #267548, #891237, #893129, #537319, #674196

Proof in screenshot HTTP://prntscr.com/h3xaox

but what these scammers not even given me single Tshit as prize draw, and rascals were keep sending me email remember to win more keep trading 5 lots to get more codes.

Look there is no code matched to my profile HTTP://prntscr.com/h3xb22

All the winners codes are Fake and there is no Single winner

Also the Car winner is Fake don't go with this trap.

I lost a big amount due to these ### cheats these scammers not given me single cent return as compensation by accepting own fault.

here is my real account proof of loss.

HTTP://prntscr.com/h3xcbz

I am really Disappointed by trading at this Scam broker.

If you are starter in market please never chose this scam broker FBS for your trading.

This is fully controlled run by Scam team who knows only to cheat you.

I also sent many support tickets to help me and check errors for same how I am losing only but these scammers said we cannot help you.

All support is very poor also withdrawal is very bad here they charges too much fee in comparison to payment gateway.

Until I get any REFUND or prize for my losses I will keep aware other users so that they not comes into the trap of these scammers.

Everybody isn't it weird, I have been giving FBS 9 pages in the FPA scam folder thread, but so far FBS hasn't answered any of my questions directly even I repeated them many times. I have requested FBS to answer the following questions:

1. Why did you take money from someone named Yu Wang (which was clearly shown on the Skrill transaction confirmation YOU provided) but deposit it to trading account 356791 that belong to someone named Lang Li?

2. Is the fact listed in question 1 a 'third party payment' in your definition? If not, please tell us the definition of 'third party payment' in your Terms & Conditions.

3. Are your customers only allowed to log into trading accounts on computers they legally own?

4. If different trading accounts are ever logged on one same computer, does that make the legal owner of that computer the account holder for all those different trading accounts - by your Terms & Conditions? And should the computer owner be required to take responsbility for the different trading accounts - by your Terms & Conditions?

so dear FBS: if you are really a honest and decent broker you claim to be, and you have not been scamming customers as everybody says nowadays on internet, I believe you would be very willing to answer these questions directly one by one.

If you reply with another piece of cr*p without answering to my 4 questions, then I guess you are admiting to the public you are a scam!

FBS is the biggest scam broker I've ever met and heard of - it took 3800 USD from my credit card and didn't even deposit it to my trading accounts! When I asked them about this they just looked for all sorts of excuses and told numerous lies as questioning my identity, asking me to provide documents and proof and promising they'd look into it.... but eventually when they ran out of excuses and lies they just got all nasty and shameless - just like the typical unregulated Russian scam brokers do! I'm a customer of theirs but they refused to even discuss MY MONEY they took from me and lied it should be the bank's business - while they know in China the banking system clearly says it's between me and the business!!

I have noticed this business received numerous negative reviews all over the internet - and you should be alerted as obviously I'm not the only victim of this dirty scam broker!

I've also noticed this scam broker set up some tricky bonus plan to scam many many traders by cancelling their profit - in the excuse 'bonus cannot be credited to two accounts from the same IP address' - I want to ask this broker on behalf all the victims: if you use this terms & conditions to cancel people's balance after they gained profit, do you also return the balance to those people who have received bonus from the same IP but lost their money in trading? If not, then it's just another scam this broker conduct to scam people's money!!

I ask everyone who received their bonus from the same IP address but lost their balance come to the scam alert folder of forexpeacearmy and leave your comments in my post - and I will ask the scam broker FBS to responde!!

Total scam!!!

Hi everybody, I am back and sorry about disappearing for a while - however you would know why I had to after hearing my story, which is a sad one - thanks to fbs.

Basically the last thing everybody knew is FBS had illegally kept MY funds for over 2 weeks and forced me to sign an additional 'agreement' in order to get MY money back - why I use word 'forced'? Because that money should be at my dispense and not a single word in the Customer Agreement gave FBS the right to take it away from me, after they had to accept my initial claim about the mistaken orders and make the balance available to me. So let's face it: the reason for FBS to hold my money is not 'we were still under disputes about the wrong orders' as they claimed (because that initial dispute had already been resolved before it came to everybody's attention and I accepted it); the only real reason for FBS to do so was that I chose to use my legal rights as a customer to bring this issue to the public eyes - if you read the additional 'agreement' they forced me to sign, it says I had to remove all my posts on internet before I can get my money back! So if a customer chooses to complaint and write bad but true posts about a broker, he can not get his OWN money back? Please try and describe such broker's behavior if it's not 'bully' or 'rogue', and I'd love to see how FBS shall comment on and justify such behavior pattern of theirs

And btw, I'd like to remind everybody once again: FBS is NOT regulated - not by a single regulator in the whole world! I have raised this issue to the attention of CRFIN, the so-named 'regulator' claimed by FBS, and after I went through all the official procedure instructed by CRFIN's official website, they had come back to me 'Currently, while there is no legal regulation, the services for clients are provided generally on behalf of foreign companies, registered in regulated or off-shore jurisdictions.' - meaning 'go away, we cannot do anything about this off-shore company'. The most funny part is, when I called CRFIN, where few people can speak English, one guy even yelled at me 'go away, go to to the police' - very professional and reliable for a 'regulator' ha?

And finally, here is what happened to me: I did get the money back, however it was too late - I requested the money back on 12th Aug as I needed that money to pay my son's deposit for his study abroad from the begining of September; he had been planning that for a long time, however the money I should have got from FBS by middle August never arrived till the end of August, so I had to try borrowing money from banks and people, which failed probably because I'm retired and too old. So my son had to give up his study plan this year, and I had to work myself aroundlike a dog trying to fix the messes caused by FBS's 'responsbible behaviors'. And that's why I was too busy to come back.

So all in all, if you only care about wether I got my funds back, you can lable this case as 'resolved'; but if you ask me wether I still think FBS is a scam broker, I will say 'YES YES YES'!!!

And should anyone go trading with FBS without considering the facts I provided, I will personally come to your house and slap your face!