Forex Brokers Namibia
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FBS review

FBS Review

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 three different retail trading accounts namely a Standard Account, Cent Account and Pro Account. FBS is currently not regulated by the Bank of Namibia.

Updated : April 19, 2024

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Overview

feature selection

Regulation and Safety of Funds

Awards and Recognition

fees namibia

Account Types and Features

Account Registration

Broker Comparison

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Trading Platforms

Range of Markets

Fees

Deposit and Withdrawals

research

Education and Research

Bonuses and Promotions

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Affiliate Programs

Customer Support

affiliate marketing

Social Responsibility

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Final Verdict

forex brokers pros and cons namibia

Pros and Cons

questions

FAQ

Overall Rating

Min Deposit

95 NAD / 5 USD 

Regulators

IFSC, CySEC, ASIC, FSCA 

Trading Desk

FBS Trader, MetaTrader 4, MetaTrader 5

Crypto

Yes

Total Pairs

36

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

Overview

Overview

 

The broker accepts Namibian clients and has an average spread from 0.0 pips with $6 commissions round turn. FBS has a maximum leverage ratio up to 1:3000 and there is a demo and Islamic account available. MT4, MT5, and FBS Trader platforms are supported. FBS is headquartered in Belize and is regulated by IFSC, CySEC, ASIC, and FSCA.

 

As an online forex and CFD broker that has been around for a long time, they are a popular choice for many traders. FBS Inc. was founded in 2009 and has since expanded in size, strength, and financial resources.

 

Subsequently, the broker now has offices and partners in countries around the globe. FBS indicates that hundreds of new online trading accounts are established every day, and both traders and new business associates own these accounts.

 

The CFD trading platform was founded in 2009 by investors who were interested in trading research and technical analysis. FBS provides global markets with transparent and trusted applications for more than 27M CFD traders.

 

Today, FBS is an international brand present in over 150 countries. The brand unites several companies offering their clients opportunities to trade Margin FX and CFDs. The companies include FBS Markets Inc. (licensed by IFSC), Tradestone Ltd. (licensed by CySEC), Intelligent Financial Markets Pty Ltd. (licensed by ASIC), and TRADE STONE SA (PTY) LTD. (licensed by FSCA).

 

 This FBS review for Namibia will provide local retail traders with the details that they need to consider whether FBS is suited to their unique trading objectives and needs.

 

Distribution of Traders

Distribution of Traders

 

 The broker currently has the largest market share in these countries:

➡️️ Brazil – 11.73%

➡️️ Togo – 9.64%

➡️️ Indonesia – 6.89%

➡️️ Malaysia – 5.03%

➡️️ Nigeria – 4.79%

 

Popularity among traders

🥇 FBS does not currently hold a significant market share in Namibia as a CFD and Forex broker. However, FBS is still one of the Top 30 brokers for Namibian forex and CFD traders.

 

 

What trading platforms are offered by FBS?

The broker offers a variety of trading platforms, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are popular for their user-friendly interfaces and powerful analytical tools. Additionally, FBS provides its proprietary mobile trading platform, FBS Trader, for on-the-go trading.

 

How can I contact FBS customer support?

The broker offers a dedicated customer support team that can be reached through several channels, including live chat, email, and phone. Their support is available 24/7 to assist traders with any inquiries or issues they may encounter while trading or using the platform.

At a Glance

🏛 HeadquarteredBelize
🏙 Local office in Windhoek?No
✅ Accepts Namibian Traders?Yes
🗓 Year Founded2009
📞 Namibian Office Contact NumberNone
🤳 Social Media Platforms• Facebook
• Twitter
• Telegram
• Instagram
• YouTube
⚖️ RegulationIFSC, CySEC, ASIC, FSCA

🪪 License Number• Belize – 000102/198
• Cyprus (Tradestone) – 331/17
⚖️ BoN RegulationNone
🚫 Regional RestrictionsJapan, United States, Canada, United Kingdom, Myanmar, Brazil, Malaysia, Israel, the Islamic Republic of Iran
☪️ Islamic AccountYes
💻 Demo AccountYes
🛍 Retail Investor Accounts6
📊 PAMM AccountsNo
🤝 Liquidity ProvidersCurrenex
💸 Affiliate ProgramYes
📲 Order ExecutionMarket
📊 Average spreadfrom 0.7 pips
📞 Margin Call40%
🛑 Stop-Out20%
✅ Crypto trading offered?Yes
💰 Offers a NAD Account?No
👨‍💻 Dedicated Namibian Account Manager?No
📊 Maximum Leverage1:3000
🚫 Leverage Restrictions for Namibia?No
💰 Minimum Deposit (NAD)$5 / 96 NAD
✅ NAD Deposits Allowed?Yes
📊 Active Namibian Trader Stats150,000+
👥 Active Namibian-based FBS customersUnknown
💳 Namibia Daily Forex TurnoverUnknown, overall Forex Daily Trading Volume is over $6.6 Trillion
💵 Deposit and Withdrawal Options• Credit Card
• Debit Card
• Neteller
• Sticpay
• Skrill
• Perfect Money
• Local Exchanges
🏦 Segregated Accounts with Namibian Banks?No
📊 Trading Platforms• FBS Trader
• MetaTrader 4
• MetaTrader 5
✔️ Tradable Assets• Forex
• Precious Metals
• Indices
• Energies
• Stocks
• Exotic Forex
• Cryptocurrencie
💸 Offers USD/NAD currency pair?No
📈 USD/NAD Average SpreadN/A
📉 Offers Namibian Stocks and CFDsNo
🗣 Languages supported on WebsiteEnglish, German, Spanish, French, Italian, Portuguese, Indonesian, Malay, Vietnamese, Turkish, Korean, and others
📞 Customer Support LanguagesMultilingual
⏰ Customer Service Hours24/7
👥 Namibian-based customer support?No
✅ Bonuses and Promotions for NamibiansYes
📚 Education for Namibian beginnersYes
📱 Proprietary trading softwareYes
💰 Most Successful Namibian TraderMichael Amushelelo (Net Worth Unknown)
✅ Is FBS a safe broker for Namibians?Yes
📊 Rating for FBS Namibia9/10
🤝 Trust score for FBS Namibia75%
👉 Open an account👉 Open Account

Regulation and Safety of Funds

Regulation and Safety of Funds

 

Regulation in Namibia

The broker has offices around the globe but not in Namibia. In addition, FBS is also not locally regulated by the Bank of Namibia.

 

Global Regulations

The broker has the following regulations and authorization to offer its services around the globe:

➡️ FBS has been licensed by the International Financial Services Commission (IFSC) in the region, making it a trustworthy international broker.

➡️ Cyprus Securities and Exchange Commission (CySEC) issued license number 331/17 to Cyprus-based Tradestone Ltd, which is FBS’ European affiliate.

➡️ The Australian Securities and Investment Commission (ASIC) regulates Intelligent Financial Markets Pty Ltd (IFM) which also operates under the name IFGM or FBS Oceania under AFSL number 426359.

➡️ In South Africa, FBS operates under the name Trade Stone SA (Pty) Ltd. Under this entity, FBS is regulated and overseen by the Financial Sector Conduct Authority (FSCA) as a Financial Service Provider (FSP) under FSP number 50885.

 

Client Fund Security and Safety Features

European consumers are protected by the Investors Compensation Fund (ICF). For any reason, the ICF can reimburse traders up to €20,000 if their broker goes bankrupt.

 

Customers of FBS who want to create an account must complete the Know Your Client process. To open a trading account, traders must show proof of their identification and residence. Traders should be aware that FBS’ Anti-Money Laundering regulations apply to all deposits and withdrawals from and to unknown accounts.

 

By introducing negative balance protection to retail investor accounts, a Namibian trader is protected from losing their whole account balance if they lose a significant sum of money.

 

When the market moves against a trader, leverage is typically employed, which increases the size of the position and increases the risk.

 

The broker exclusively works with top-tier banks to protect its customers’ cash. Customers’ money cannot be used to operate FBS’ operations or satisfy its financial obligations. All customers are thoroughly vetted using Proof of Identification and Proof of Residential Address. Additionally, they also abide by the Anti-Money-Laundering (AML) regulation and therefore prohibit third-party payments.

 

Lastly, Secure Sockets Layer (SSL), an industry standard, has been applied across all platforms and websites, and this specific feature is appealing since it deters hackers and cybercriminals.

 

Is FBS a regulated broker?

Yes, they are a regulated broker. It is authorized and regulated by several financial authorities, including IFSC (International Financial Services Commission) in Belize and CySEC (Cyprus Securities and Exchange Commission) in Cyprus.

 

These regulatory bodies ensure that FBS adheres to strict standards and guidelines, providing a secure trading environment for its clients.

 

How does the broker ensure the safety of client funds?

They prioritize the safety of client funds through various measures. Client funds are segregated from the company’s operational funds and are held in reputable banks.

Awards and Recognition

Awards and Recognition

 

FBS is a reputable broker that has won many awards during the years that it has been in operation, some of these include:

➡️ Best Forex Broker Thailand 2022

➡️ Best Forex Broker Thailand 2021

➡️ Best Trading Broker – South East Asia 2021

➡️ Best Forex Broker Asia 2020

➡️ Best Forex Broker LatAm 2020

➡️ Best Forex Broker 2020

➡️ Best Forex Broker in the Middle East 2019

➡️ Best Broker in Malaysia 2019

➡️ Best Trading Service in Vietnam 2019

➡️ Best Forex Broker Asia 2018

➡️ Best Forex Broker – Southeast Asia 2017

➡️ Best FOREX Broker Thailand 2017

➡️ Best International Forex Broker 2017

➡️ Best FX Broker Middle East 2016

➡️ Broker of the Year – Latin America 2016

➡️ Best Forex Brand Asia 2015

➡️ Best Forex Broker Asia Pacific 2015

➡️ Best Forex Broker in Asia Region 2014

➡️ Best Forex Broker in the Middle East 2014

➡️ Fastest growing broker Asia 2012

➡️ Best mini Forex Broker 2011

➡️ Best mini Forex Broker 2010

➡️ and many more.

Account Types and Features

Account Types and Features

 

The broker offers three retail investor accounts for Namibian traders. FBS’ extensive array of trading choices, which includes alternatives for novices and experts, is readily accessible to traders of all skill levels. The account types that are offered to Namibian traders are:

➡️ FBS Standard Account

➡️ FBS Cent Account

➡️ FBS Pro Account

 

Standard Account

Account Types and Features Standard Account

 

This account type is ideal for traders who prefer a more conventional approach to forex trading and will provide them with all they want. The Standard account is distinguished by its competitive spreads and the absence of commission-based trading.

Account FeatureValue
💰 Minimum Deposit$5 / 96 NAD
📊 Average spreadfrom 0.7 pips
💵 CommissionNone
📈 LeverageUp to 1:3000
📊 Maximum opening positions500
💰 Order volumefrom 0.01 to 500 lots (with 0.01 step)
💸 Market Executionfrom 0.1 sec, STP
📱 Trading PlatformMetaTrader 4, MetaTrader 5, FBS Trader
💻 Tradable Instruments36 Forex pairs, 8 metals, 3 energies, 11 indices, 127 stocks, 5 crypto pairs
☪️ Swap-Free Islamic OptionYes
👉 Open an account👉 Open Account

 

Cent Account

Account Types and Features Cent Account

 

The fundamental characteristic of the FBS Cent Account is the usage of cents for both the account balance and all transactions. The Cent Account is a fantastic option for novice traders due to its low-risk trading environment.

 

Experienced traders may use this account as a testing ground for their trading strategies. The Cent Account has a lower minimum opening deposit and permits smaller holdings.

Account FeatureValue
💰 Minimum Deposit$5 / 96 NAD
📊 Average spreadfrom 0.7 pips
💵 CommissionNone
📈 LeverageUp to 1:1000
📊 Maximum opening positions500
💰 Order volumefrom 0.01 to 1 000 cent lots (with 0.01 step)
💸 Market Executionfrom 0.1 sec, STP
📱 Trading PlatformMetaTrader 4, MetaTrader 5
💻 Tradable Instruments36 Forex pairs, 8 metals, 3 energies, 11 indices, 127 stocks, 5 crypto pairs
☪️ Swap-Free Islamic OptionYes
👉 Open an account👉 Open Account

 

Pro Account

Account Types and Features Pro Account

 

The FBS Pro account is designed for experienced traders and offers competitive trading conditions and advanced features.

Account FeatureValue
💰 Minimum Deposit$500 / 9,610 NAD
📊 Average spreadfrom 0.5 pips
💵 CommissionNone
📈 Leverageup to 1:2000
📊 Maximum opening positionsUnlimited
💰 Order volumefrom 0.01 to 500 lots (with 0.01 step)
💸 Market Executionfrom 0.1 seconds, STP
📱 Trading PlatformMetaTrader 4, MetaTrader 5
💻 Tradable Instruments36 Forex pairs, 8 metals, 3 energies, 11 indices, 127 stocks, 5 crypto pairs
☪️ Swap-Free Islamic OptionYes
👉 Open an account👉 Open Account

 

Base Account Currencies

Most national currencies can be used when making deposits to trading accounts; these currencies are afterwards translated into the US Dollar and the Euro.

 

Since FBS does not accept accounts that are denominated in NAD, Namibians will be required to pay conversion costs whenever they make a deposit or withdraw money from their accounts. Trading might become costly due to conversion expenses, which can also have an impact on profitability.

 

Demo Account

Account Types and Features Demo Account

 

A demo account is a practice account that offers traders a certain amount of virtual funds that they can use, allowing them to enter the live market without risking their capital. 

 

There is a certain degree of risk involved when trading financial markets and FBS offers its clients a risk-free platform where they can test strategies, practice trading, and explore what the broker offers in a safe trading environment with real market conditions.

 

The broker provides free demo accounts that enable traders to practise with virtual money while utilizing real-time market data to try out their Forex strategy. Using a trial account to learn how to trade is an excellent method to get started.

 

The FBS demo account expires after 40 days, at which time it is automatically erased from the system. When this occurs, Namibian clients have the option of creating a new one.

 

Islamic Account

Account Types and Features Islamic Account

 

Depending on the trading style and the trading strategy of the forex trader, they may keep their trading positions open for longer than 24 hours on a trading day.

 

This means that the trader could incur an overnight or rollover fee. This is a type of interest that is prohibited by the Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.

 

With FBS Muslim traders can register a live account and convert it to an Islamic account on the following account types:

➡️ FBS Cent Account

➡️ FBS Standard Account

➡️ FBS Pro Account

 

What is the minimum deposit requirement for the Pro account?

The Pro account has a minimum deposit requirement of $500 / 9,610 NAD, making it accessible to traders looking for a more advanced trading experience.

 

What are the key features of the Pro account?

The Pro account offers traders a competitive spread starting from 0.3 pips, leverage of up to 1:3000, and the ability to trade a wide range of instruments, including forex, metals, and cryptocurrencies. It is suitable for experienced traders who require advanced trading conditions.

How to open an Account with FBS

To register an account with FBS, Namibian traders can follow these steps:

Step 1 – Go to the official FBS website.

➡️ Go to the official FBS website and click on the “Open Account” button.

How to open an Account with FBS Step 1

 

Step 2 – Complete the form.

➡️ Fill in all your personal information, such as your name, email address, phone number, and so on.

How to open an Account with FBS Step 2

FBS Vs XM Vs Exness – Broker Comparison

FBSXMExness
⚖️ RegulationIFSC, CySECFSCA, IFSC, ASIC/AFSL, CySEC, DFSAFSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA
📱 Trading Platform• MetaTrader 4
• MetaTrader 5
• FBS Trader
MetaTrader 4, MetaTrader 5

• MetaTrader 4
• MetaTrader 5
• Exness Terminal
• Exness Trader app
💰 Withdrawal FeeYesNoNo
📊 Demo AccountYesYesYes
📈 Minimum Deposit$5 / 96 NAD$5 / 96 NAD$10 / 192 NAD
📈 LeverageUp to 1:3000Up to 1000:1Unlimited
📊 Spreadfrom 0.7 pipsAs Low as 1 PipVariable, from 0.0 pips
💰 CommissionsNoneNoneFrom $0.1 per side, per lot
✴️ Margin Call/Stop-Out40%/ 20%• 60%/40%
• 80%/50%
60%/0%
✴️ Order ExecutionMarketInstantMarket
💳 No-Deposit BonusYesYesNo
📊 Cent AccountsYesNoYes
📈 Account Types• FBS Cent Account
• FBS Pro Account
• FBS Standard Account
• Micro Account
• Standard Account
• XM Ultra Low Account
• Shares Account
• Standard Account
• Standard Cent Account
• Raw Spread Account
• Zero Account
• Pro Account
⚖️ BoN RegulationNoNoNo
💳 NAD DepositsYesYesYes
📊 Namibian Dollar AccountNoYesNo
👥 Customer Service Hours24/724/524/7
📊 Retail Investor Accounts635
☪️ Islamic AccountYesYesYes
👉 Open an account👉 Open Account👉 Open Account👉 Open Account

Overall Rating

Min Deposit

95 NAD / 5 USD 

Regulators

IFSC, CySEC, ASIC, FSCA 

Trading Desk

FBS Trader, MetaTrader 4, MetaTrader 5

Crypto

Yes

Total Pairs

36

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

Trading Platforms

Trading Platforms

 

The broker offers Namibian traders a choice between these trading platforms:

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ FBS Trader

 

Desktop Platforms

Desktop Platforms

 

➡️ MetaTrader 4

➡️ MetaTrader 5

 

Namibian FBS traders can choose between the desktop versions of MetaTrader 4 and 5 to carry out their trading activities. This pair of trading platforms are the creations of MetaQuotes Software Corporation, which is an organization that specializes in the design and development of trading software.

 

The two platforms are remarkably similar in terms of appearance and share many of the same functionality. The only distinction is that MT5, being a newer version, has additional functionality and has even enhanced some of the capabilities that were previously included in the MT4.

 

Both platforms are accessible as desktop programs for computers running Windows and Mac OS X operating systems.

 

WebTrader Platforms

WebTrader Platforms

 

➡️ MetaTrader 4

➡️ MetaTrader 5

 

Web Trading with MetaTrader 4 and 5 is very convenient since it does not need you to download or install any software; instead, you just log on online using a browser and you can begin trading immediately.

 

However, Web traders often provide fewer tools and the ability to alter settings, making them a simpler version of the platform.

 

A browser and an internet connection are all that is necessary to trade on the MetaTrader online platform, which eliminates the need for any extra applications. The platform enables users to trade immediately from any browser and operating system, regardless of their location.

 

The following are some of the most important characteristics:

➡️ Trading with a single click. Trading orders can be entered with a single click utilizing predefined criteria, which makes this function very convenient for traders.

➡️ Trading directly from charts. When using MT4 or 5 Namibian traders can see that the order entry buttons are neatly situated inside the chart.

➡️ Watchlists. This gives traders the unique ability to monitor the real-time prices of their preferred instruments and helps traders to keep on top of the market.

➡️ Trade History. You can easily retrieve the transactions that you have recently completed.

➡️ Comprehensive charting capabilities. There are 31 indicators for technical analysis available on the MT5 online platform, which provides powerful charting tools.

➡️ An extensive selection of order types. Market orders, limit orders, stop-loss orders, and stop-limit orders are examples of these types of orders. Conditions such as GTC (Good ‘til Cancelled) and other time-in-force conditions are available.

 

Trading App

Trading App

 

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ FBS Trader

 

MetaTrader 4 and 5

The broker supports MT4 and MT5 mobile trading applications for Android and iOS. Traders should be aware that there is a loss of functionality compared to desktop trading platforms, such as fewer time frames and charting choices, but they can still cancel and alter existing orders, compute profit and loss, and trade on the charts.

 

FBS Trader

This is the FBS mobile trading platform for mobile trading. The software is compatible with iOS and Android smartphones and can be downloaded from each platform’s app store. It features a straightforward UI and is easy to use.

 

It interacts with MetaTrader platforms and may be used to fund and withdraw from trading accounts, which is very useful. In addition to several features and benefits, the FBS Trader app also provides access to live quotations, charts, and data.

 

What trading platforms are available?

The broker offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, known for their powerful charting tools, technical indicators, and automated trading capabilities.

 

Can I access the trading platforms on mobile devices?

Yes, you can. The broker provides mobile versions of the MT4 and MT5 platforms, allowing traders to trade and manage their accounts on iOS and Android devices while on the go.

Range of Markets

Range of Markets

 

Namibian traders can expect the following range of markets:

➡️ Forex

➡️ Precious Metals

➡️ Indices

➡️ Energies

➡️ Stocks

➡️ Exotic Forex

➡️ Cryptocurrencies

 

What financial markets can I trade?

The broker primarily focuses on forex trading, offering a wide range of currency pairs for trading. However, they also provide access to CFDs (Contracts for Difference) on commodities, indices, and cryptocurrencies, allowing traders to diversify their portfolios.

 

How many currency pairs are available for trading?

The broker offers a comprehensive selection of over 30 major, minor, and exotic currency pairs for forex trading, giving traders ample opportunities to engage in the forex market.

Broker Comparison for Range of Markets

FBSFXTMTrade Nation
➡️️​ ForexYesYesYes
➡️️​ Precious MetalsYesYesYes
➡️️​ ETFsNoNoNo
➡️️​ CFDsYesYesYes
➡️️​ IndicesYesYesYes
➡️️​ StocksYesYesYes
➡️️​ CryptocurrencyYesNoNo
➡️️​ OptionsNoNoNo
➡️️​ EnergiesYesYesYes
➡️️​ BondsNoNoNo

Trading and Non-Trading Fees

Spreads

Trading and Non-Trading Fees Spreads

 

FBS traders could expect a broad variety of spreads depending on the financial instrument traded, the account type utilized, and the market conditions (in the case of variable spreads). FBS provides traders with the following spreads, all of which are lower than the industry average:

➡️ FBS Cent Account – from 0.7 pips

➡️ FBS Standard Account – from 0.7 pips

➡️ FBS Pro Account – from 0.5 pips

 

Overnight Fees, Rollovers, or Swaps

Trading and Non-Trading Fees Overnight Fees, Rollovers, or Swaps

 

FBS traders could expect a broad variety of spreads depending on the financial instrument traded, the account type utilized, and the market conditions (in the case of variable spreads). FBS provides traders with the following spreads, all of which are lower than the industry average:

➡️ EUR/USD – a long swap of -6.37 and a short swap of -0.69

➡️ XAG/USD – a long swap of -1.77 and a short swap of -1.24

➡️ XAU/USD – a long swap of -2.12 and a short swap of -1.35

➡️ US100 – a long swap of -85.91 and a short swap of -117.2

➡️ XBR/USD – a long swap of -7.74 and a short swap of -6.28

➡️ AAPL – a long swap of -2.58 and a short swap of -2.42

 

Deposit and Withdrawal Fees

The broker charges deposit and withdrawal fees on different payment providers that are available for funding a trading account and withdrawing funds. When traders use Sticpay to fund a trading account, they are subject to a rate of 2.5% plus an additional 0.3 USD commission.

 

The broker charges the following withdrawal fees:

➡️ Credit Card – $1 commission

➡️ Debit Card – $1 commission

➡️ Neteller – 2% with a minimum of $1 and a maximum of $30

➡️ Sticpay – 2.5% + $0.3 commission

➡️ Skrill – 1% + $0.32 commission

➡️ Perfect Money – 0.50% commission

 

Inactivity Fees

If a live trading account goes dormant after 180 days, a $5 fee will apply to the account. In addition, when Namibians deposit or withdraw funds in NAD, they can expect a currency conversion fee.

 

Currency Conversion Fees

The broker only supports two base currencies that can be used when registering a live trading account. Thus, when Namibian traders deposit or withdraw in NAD, their funds will be converted to USD or EUR, depending on which currency they set as their account’s base currency. This could lead to currency conversion fees for Namibian traders.

 

What are the trading fees?

The broker operates on a commission-free trading model for most account types. However, spreads, which are the difference between the buying and selling prices of a currency pair, are the primary trading costs.

 

The spreads can vary depending on the account type and market conditions, so it’s essential to check the specific spreads for your chosen trading instruments.

 

Do they charge non-trading fees?

They generally do not charge non-trading fees like account maintenance or inactivity fees. However, it’s crucial to review their fee structure, as certain actions, such as currency conversion or withdrawals through specific payment methods, may incur additional charges.

Overall Rating

Min Deposit

95 NAD / 5 USD 

Regulators

IFSC, CySEC, ASIC, FSCA 

Trading Desk

FBS Trader, MetaTrader 4, MetaTrader 5

Crypto

Yes

Total Pairs

36

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

Deposits and Withdrawals

Deposits and Withdrawals

 

The broker offers the following deposit and withdrawal methods:

➡️ Credit Card

➡️ Debit Card

➡️ Neteller

➡️ Sticpay

➡️ Skrill

➡️ Perfect Money

➡️ Local Exchanges

 

How to Deposit Funds

How to Deposit Funds

 

To deposit funds to an account, Namibian traders can follow these steps:

➡️ Traders can select “Deposit” from the Finances tab in the Personal Area.

➡️ Select a payment method, online or offline, and click on “Deposit”

➡️ Select the trading account and enter the deposit amount.

➡️ Confirm the deposit details on the following page.

 

Fund Withdrawal Process

Fund Withdrawal Process

 

To withdraw funds from an account, Namibian traders can follow these steps:

➡️ The “Withdrawal” option is found in the Finances section.

➡️ Choose the preferred withdrawal method.

➡️ To withdraw money, choose a trading account from which the cash will be taken.

➡️ Traders must ensure that their withdrawal request is complete.

➡️ Determine how much money must be withdrawn and indicate it in the required field.

➡️ Confirm and submit the withdrawal request.

 

Traders must first check that their account has been authenticated before requesting a withdrawal from the platform. Upon receipt by FBS, requests are dealt with in the order in which they are received. After withdrawal requests have been approved by the company’s management, funds will be released by the FBS staff members.

 

It takes up to 10 days for a bank wire to clear, but other payment methods are rapid or take up to 4 days, which is something traders must take into consideration.

 

What deposit methods are available?

The broker offers a wide range of deposit methods, including bank transfers, credit/debit cards, electronic wallets like Skrill and Neteller, and various local payment options. The availability of these methods may vary depending on your region.

 

Are there fees for deposits and withdrawals at FBS?

FBS generally does not charge fees for deposits or withdrawals. However, some third-party payment providers or banks may impose their fees, so it’s essential to check with your chosen payment method for any potential charges.

Education and Research

Education and Research FBS

 

The broker offers the following Educational Materials:

➡️ Forex Guidebook

➡️ Tips for Traders

➡️ Webinars

➡️ Educational Video Lessons

➡️ Seminars

➡️ Glossary

➡️ FAQ

 

The broker offers Namibian traders the following Research and Trading Tools:

➡️ Forex News Feed

➡️ Daily Market Analysis

➡️ Forex TV

➡️ VIP Analytics

➡️ Economic Calendar

➡️ Forex Calculators

➡️ Currency Converter

 

Does FBS provide educational resources for beginner traders?

Yes, they offer a range of educational materials, including video tutorials, webinars, articles, and market analysis, to cater to traders of all levels, including beginners.

 

Is there a demo account available at FBS for practising trading strategies?

Yes, they provide a demo account that allows traders to practice and test their trading strategies without risking real money. It’s a valuable tool for both beginners and experienced traders to hone their skills.

Bonuses and Promotions

Bonuses and Promotions FBS

 

The broker offers Namibian traders the following bonuses and promotions:

➡️ FBS Traders Parties

➡️ Get a Car from FBS

➡️ Level-up Bonus

➡️ 100% Deposit Bonus

➡️ Cashback

➡️ Cashback

➡️ Quick Start Bonus

➡️ Referral Program

➡️ Risk-free investments

➡️ Loyalty Program

➡️ Trade to Help

➡️ FBS Winning Season

➡️ FBS Leaders’ Summit

➡️ FBS League

➡️ FBS Gift Season

 

What types of bonuses are available?

They offer various bonuses, including a welcome bonus, deposit bonuses, and cashback promotions, providing traders with opportunities to boost their trading capital.

 

Are there any conditions or requirements for withdrawing profits earned from the bonuses?

Yes, the broker typically has specific trading volume requirements that traders need to meet before they can withdraw profits generated from bonus funds. These requirements vary depending on the bonus type and terms and conditions.

How to open an Affiliate Account with FBS

How to open an Affiliate Account with FBS

 

To register an Affiliate Account, Namibians can follow these steps:

➡️ Prospective affiliates can visit the official FBS website and click on “Partnership” from the main menu on the homepage.

➡️ A drop-down menu will appear, and prospective affiliates can click on “Affiliate Program” under “General Info.”

➡️ Next, Namibians can click on the green “Register a Partner Account” banner.

➡️ A new page will load with the partner registration form. Here, prospective affiliates can enter a valid email address and their full name before selecting the orange “Register as Partner” banner. Namibians can also register using their Goole and Facebook credentials, or their Apple ID.

➡️ Next, prospective affiliates can connect to FBS using their valid email and they will automatically be logged into the trader’s cabinet where they can select “Partner Area” from the top menu.

➡️ From here, Affiliates will see their partner account number, balance, their Partner ID, and their overall progress.

➡️ This section also provides affiliates with a range of advertisement materials, referral links, comprehensive reports, and rebates.

 

Affiliate Program Features

The broker offers a comprehensive partnership program that may be able to assist partners in earning more money. Commissions for EUR/USD transactions are $15 per lot, and FBS ensures that commission payments are made on a timely basis.

 

In addition, affiliates that participate in the program will have access to a dedicated affiliate manager as well as 24-hour customer service and support. In addition, the FBS Partnership Program provides the following features and incentives to participants:

➡️ It enables business partners to expand their businesses and build wealth over the long term.

➡️ It allows partners to generate money without having to take any risks of their own.

➡️ In addition, partners may be eligible to receive commissions of up to $80 for each lot traded by a client of theirs.

➡️ When a partner is more active in acquiring new consumers, they have a greater chance of earning money.

➡️ A broad variety of promotional products are available for use.

➡️ When a partnership agreement is signed, it is possible to send promotional materials to partners that could be utilized offline.

 

How can I become an FBS affiliate?

To become an FBS affiliate, you can sign up for their affiliate program through their website. Once approved, you can start referring traders and earning commissions.

 

What kind of commissions can I earn through the FBS affiliate program?

FBS offers competitive commissions to its affiliates, including both CPA (Cost Per Acquisition) and revenue sharing models. The exact commission rates may vary based on your performance and the terms of your agreement with FBS.

Customer Support

Customer Support

 

FBS is well-known for its helpful, friendly 24/7 customer support that can be contacted in several ways online, or telephonically.

 

How can I contact FBS customer support?

You can contact their customer support through various channels, including live chat on their website, email, and phone. They provide 24/7 customer support to assist you with any inquiries or issues.

 

In which languages does FBS offer customer support?

The broker offers customer support in multiple languages to cater to their diverse clientele. Whether you prefer to communicate in English, Spanish, Russian, Chinese, or many other supported languages, FBS is equipped to provide effective assistance in your preferred language.

Corporate Social Responsibility

Corporate Social Responsibility

 

The most essential thing for the broker is that the people who utilize their trading services can profit from the opportunities for financial independence that the company gives. Additionally, the broker, in collaboration with charity traders, strives to assist people in need all around the world.

 

Namibian traders can enter a monthly social media contest called Wishes Come True, in which they can share their most cherished wishes, and the broker will work to make those dreams come true for them.

 

Every year that the contest is organized, the FBS team can see how many people’s lives are transformed because of the random acts of kindness that are a part of it.

 

Every year, a charity trade promotion is organized, and FBS collaborates with a variety of local and international organizations. When a trader deposits money, the amount is increased by 300%, and any commissions made by that trader are donated to a charitable organization. This demonstrates a collaborative effort to make the world a better place.

 

What is FBS’ approach to corporate social responsibility (CSR)?

They are committed to corporate social responsibility (CSR) and actively engage in various initiatives aimed at giving back to the community and promoting social well-being. They support charitable causes, educational programs, and initiatives that contribute to the betterment of society.

 

How can I learn more about their corporate social responsibility efforts?

To learn more about their corporate social responsibility initiatives and the specific projects they are involved in, you can visit their official website or contact their customer support. They often provide updates and information on their CSR activities, demonstrating their commitment to making a positive impact on society.

Verdict

To accommodate traders of various skill levels and trading styles, FBS has constructed a well-established online trading brokerage that has been in operation for many years.

 

It is a regulated brand that has put in place all the required security measures that are common in the online brokerage business.

10 Best Forex Brokers in Namibia

Rank

Broker

Review

Regulators

Min Deposit

Official Site

#1

ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA

$100

#2

CySEC, FSA, FCA, FSC, FSCA, CMA

$10

#3

FSC, DFSA, CySEC, ASIC, CMA

$5

#4

FSA, CySEC, FSCA, FSC

$1

#5

CySEC, FSCA, FCA, FSA, DFSA, CMA, St. Vincent & the Grenadine

$0

#6

CySEC, ASIC, FSCA

$100

#7

FSCA, FSC, FSA

$10

#9

ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB

$10

#10

Read Review

FSCA, FSA

$5

#1

$100

Minimum Deposit

#2

$10

Minimum Deposit

#3

$5

Minimum Deposit

#4

$1

Minimum Deposit

#5

$0

Minimum Deposit

#6

$100

Minimum Deposit

#7

$10

Minimum Deposit

#8

$5

Minimum Deposit

#9

$10

Minimum Deposit

#10

$5

Minimum Deposit

Pros and Cons

✔️ Pros❌ Cons
There is an ultra-low minimum deposit when Namibians register a trading accountFBS does not have Tier-1 regulations
There is a range of tradable financial instruments which are spread across asset classesThere are inactivity fees that apply to dormant accounts
Namibian traders have a choice between versatile and powerful trading platformsThere could be currency conversion fees applied to NAD deposits
There is a selection of instant deposit methods offeredThere is no dedicated NAD-denominated account
Namibian traders can expect competitive trading conditions and comprehensive copy trading solutionsThere are both deposit and withdrawal fees charged on payment methods
There are demo accounts offered and once an account expires, traders can register a new demo account
There are swap-free options provided to Muslim traders
There is a helpful and prompt customer support team available

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Frequently Asked Questions

What is the withdrawal time with FBS?

All withdrawals are processed by them immediately as the financial department works 24/7. Deposits and withdrawals using an electronic payment system might take up to 48 hours to be processed. Processing time for bank wire transfers might range from one day up to seven business days.

 

What type of broker is FBS?

They are a global forex broker offering minimal minimum deposits and a range of trading accounts that are compatible with both MT4 and MT5, as well as the FBS Trader mobile app. This broker has cheap spreads and is suitable for both newbies and experienced traders.

 

Is FBS regulated?

Yes, FBS is well-regulated by the IFSC in Belize, CySEC in Cyprus, the ASIC in Australia, and FSCA in South Africa.

 

Is FBS good for beginners?

Yes, FBS is good for beginners in terms of the cent trading account provider in addition to a plethora of trading materials that beginners can use.

 

Does FBS have Nasdaq?

Yes, Contracts for difference (CFDs) are available for trading on the NASDAQ.

 

Is FBS safe or a scam?

FBS can be described as a trustworthy and reputable broker that charges affordable trading costs.

 

Does FBS have Volatility 75?

No, FBS does not currently offer Volatility 75 (VIX) but offers popular indices such as AU200, DE30, UK100, US100, US30, and several more.

 

What is the minimum withdrawal with FBS?

Bank wire withdrawals have a $50 minimum withdrawal amount. All other payment methods have a minimum withdrawal of $1.

 

Does FBS require proof of residence?

FBS does adhere to stringent Know Your Customer (KYC) guidelines. These safeguards are designed to keep both you and the business safe against identity theft and the facilitation of fraud and money laundering.

 

For the sake of compliance, FBS requests that all customers present identification and address documentation, as well as have their bank cards authenticated.

Conclusion

Now it is your turn to participate:

➡️ Do you have any prior experience with FBS?

➡️ What was the determining factor in your decision to engage with FBS?

➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or any other factors?

➡️ Have you experienced any issues with FBS such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?

 

Regardless, please share your thoughts in the comments below.

 

Addendum/Disclosure:

No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.

9.2/10 - (29 votes)