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E FOREX
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Find out the history of forex trading, how it works and how to trade. Note this is an educational site only and not for the purposes of forex trading.
FBS Holdings
FBS Holdings is a forex brokerage firm based in Mauritius. Although a relatively new entrant into the market (the company was created in 2009), this brokerage firm is regulated by the Financial Services Commission (FCS) and has a number of features attractive to forex traders. The firm uses the popular MetaTrader 4 platform and, in addition to forex, also trades stocks, futures and CDF.
Accounts and trading options
The company runs three types of accounts - Micro, Standard and Unlimited. The Micro account is meant for beginners and has a minimum deposit requirement of $5 and a maximum of $2000. The standard and Unlimited accounts have minimum deposit requirements of $25 and $1000 respectively and unlimited maximum deposits. Account type dictates trading options. For example, the minimum order volume for Micro account traders is 0.01 lots and 0.1 and 1 for Standard and Unlimited accounts respectively. Micro account holders' spreads are fixed at 2 pips while spreads for the other accounts are floating from 1 pip. The company allows scalping and hedging for all accounts. At FBS, the minimum leverage is 1:1 and the maximum is 1:500.
Three Demo Accounts
FBS has three virtual accounts modeled on their three live accounts and new traders can carry on virtual trading for an unlimited period. The company also offers a 25% bonus on all deposits. This bonus, however, cannot be withdrawn. Moreover, the bonus is cancelled when the trader's own funds fall below the bonus figure. The company charges an unspecified payment transfer commission on all withdrawals. When withdrawing, a trader can only use the very same system he or she used to deposit. Deposit currencies accepted are USD and EUR only but there are many deposit and withdrawal options including Visa, MasterCard, WebMoney, Moneybookers and Internal Transfers.
12 Currency Pairings
Trades are conducted in 12 currency pairings which include the major ones - the USD/EUR, USD/JPY, GBP/USD, EUR/CHF and USD/CAD. Traders at FBS benefit from a very comprehensive databank of important global economic indicators which are updated regularly. The charts available are quite decent and the trader has enough custom indicators to learn from. Interest rates of all leading Central banks are provided and, through the Economic Calendar, global statistics likely to influence forex trading are provided.
Customer support at FBS is conducted through email, live chat and phone. This support is available from Monday to Saturday between 1pm and 12 noon (+3GMT).
Trader 4 for smart phones and mobiles
The advantages that the use of MetaTrader 4 platform brings are evident in the FBS Trader 4. The interface is user-friendly and will serve even technologically challenged people well. Installation takes just a couple of minutes as it is available as a download. Three version of the software are available: FBS Trader 4 for PCs, a Smartphone Version and FBS Trader Mobile for mobile devices.
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Disclaimer: Please note that forex trading can involve a significant risk of loss and is not suitable for everyone.
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