FBS Review

FBS is considered average-risk, with an overall Trust Score of 75% out of 100. The fees with FBS are competitive, however, FBS is regulated by The National Bank of Rwanda (BNR) and is an ideal option for traders on with any amount of trading experience.

Updated : October 6, 2023

Jump to:

Regulation and Safety of Funds

Account Types and Features

Account Registration

Trading Platforms

Range of Markets


Deposits and Withdrawals

Education and Research

Affiliate Program

Final Verdict

Pros and Cons


Overall Rating

Min Deposit

1 USD / 1 020 RWF


IFSC, FSCA (South africa), ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.



Total Pairs


Islamic Account


Trading Fees


Welcome Bonus

$140 / 142 877 RWF

Account Activation Time


FBS Overview

FBS Review Overview

👉 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 six different retail trading accounts namely an FBS Cent Account, FBS Micro Account, FBS Standard Account, FBS Zero Account, FBS ECN Account, and FBS Crypto Account.


👉 FBS accepts Rwandan 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, FBS Trader platforms are supported. FBS is headquartered in Belize and is regulated by IFSC, CySEC, ASIC, and FSCA.


👉 The FBS 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).


👉 FBS is a global CFD broker that has been in business since 2009. FBS has built a reputation as a trustworthy and secure broker over the past 13 years. FBS serves Rwandan traders and has licenses and authorization from four reputable market regulators to offer trading solutions and services.


👉 FBS enables traders to trade a wide range of assets such as equities, commodities, indices, bonds, and FX. Furthermore, FBS is one of the few brokers that provides access to 30 Crypto CFDs.


👉 FBS is regarded as a pricey broker, with spreads averaging 3 pips on entry-level accounts. They do, however, offer a variety of accounts, some of which provides Rwandan traders more versatility when compared to other forex brokers.


👉 FBS is an excellent choice for inexperienced traders and features a beginner-friendly trading environment and a wealth of instructional information from which traders may learn.


👉 FBS also provides demo accounts for beginner traders to practise in real-world settings without risking their money.


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


FBS Distribution of Traders

FBS Review Distribution of Traders

👉 FBS currently has the largest market share in these countries:

➡️ Malaysia – 9.3%

➡️ Philippines – 9.1%

➡️ India – 9%

➡️ Nigeria – 6.6%

➡️ South Africa – 4.6%


Popularity among traders who choose FBS

🥇 FBS does not yet control a significant piece of the Rwandan CFD and Forex industry. FBS, on the other hand, remains one of the top 50 forex and CFD brokers in Rwanda.

FBS at a Glance

🏙 HeadquarteredBelize
🏛 Global OfficesMalaysia, Laos, Thailand, Dubai, Brazil, Turkey
💻 Local Market Regulator in RwandaThe National Bank of Rwanda (BNR)
💸 Foreign Direct Investment in Rwanda99.92 USD Million in 2020
🔄 Foreign Exchange Reserves in Rwanda1,806 million US dollars in 2020
🏛 Local office in Kigali?No
👨‍⚖️ Governor of SEC in RwandaNone, John Rwangombwa is the Governor of the National Bank of Rwanda
✔️ Accepts Rwandan Traders?Yes
🗓 Year Founded2009
☎️ Rwandan Traders Office Contact NumberNone
📲 Social Media Platforms• Facebook
• Twitter
• Telegram
• Instagram
• YouTube
⚖️ RegulationIFSC, CySEC, ASIC, FSCA
1️⃣ Tier-1 Licenses• Australian Securities and Exchange Commission (ASIC)
2️⃣ Tier-2 Licenses• Cyprus Securities and Exchange • Commission (CySEC)
Financial Sector Conduct Authority (FSCA)
3️⃣ Tier-3 Licenses• International Financial Service Commission (IFSC) in Belize
🪪 License Number• Belize – 000102/198
• Cyprus (Tradestone) – 331/17
• Australia (IFM) – 426359
• South Africa (Tradestone) – 50885
⚖️ BNR 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
📊 Starting spread0.0 pips
💸 Minimum Commission per TradeFrom $6
💵 Decimal Pricing5th decimal pricing after the comma
📞 Margin Call40%
🛑 Stop-Out20%
📉 Minimum Trade Size0.01 lots
📈 Maximum Trade Size500 lots
💰 Crypto trading offered?Yes
✔️ Offers an RWF Account?No
👥 Dedicated Rwandan Traders Account Manager?No
📊 Maximum Leverage1:3000
📈 Leverage Restrictions for Rwanda?No
💵 Minimum Deposit (RWF)1,000 Rwandan franc or an equivalent to $1
✔️ Rwandan franc Deposits Allowed?Yes
📊 Active Rwandan Traders Trader Stats50,000+
👥 Active Rwandan Traders-based FBS customersUnknown
🔄 Rwanda Daily Forex TurnoverUnknown, the overall trading volume of over $6.6 trillion
💰 Deposit and Withdrawal Options• Credit Card
• Debit Card
• Neteller
• Sticpay
• Skrill
• Perfect Money
• Local Exchanges
📉 Minimum Withdrawal Time15 to 20 minutes (maximum 48 hours)
📈 Maximum Estimated Withdrawal TimeUp to 7 days
💰 Instant Deposits and Instant Withdrawals?Instant Deposits
🤝 Segregated Accounts with Rwandan Traders Banks?No
💻 Trading Platforms• FBS Trader
• MetaTrader 4
• MetaTrader 5
💵 Tradable Assets• Forex
• Precious Metals
• Indices
• Energies
• Stocks
• Exotic Forex
• Cryptocurrencies
💸 Offers USD/RWF currency pair?No
📊 USD/RWF Average SpreadN/A
✅ Offers Rwandan Traders Stocks and CFDsNo
📖 Languages supported on the WebsiteEnglish, German, Spanish, French, Italian, Portuguese, Indonesian, Malay, Vietnamese, Turkish, Korean, and others
📘 Customer Support LanguagesMultilingual
⏰ Customer Service Hours24/7
📞 Rwandan Traders-based customer support?No
💰 Bonuses and Promotions for Rwandan TradersYes
📚 Education for Rwanda beginner tradersYes
📱 Proprietary trading softwareYes
🏅 Most Successful Rwandan TraderUnknown
✔️ Is FBS a safe broker for Rwandan Traders?Yes
🎖 Rating for FBS Rwanda9/10
🥇 Trust score for FBS Rwanda75%
👉 Open An Account👉 Open Account

FBS Regulation and Safety of Funds

FBS Review Regulation And Safety

FBS Regulation in Rwanda

👉 FBS is an internationally recognized broker but does not have a local office in Rwanda. In addition, FBS does not have any regulations or licensing through local market regulators. However, FBS is still a viable option for Rwandan traders regardless of their trading objectives or needs.


FBS Global Regulations

👉 FBS is divided into four independent bodies to provide trading solutions in different regions. The International Financial Services Commission (IFSC) of Belize has approved FBS under the regulation number IFSC/000102/198. The license is owned by FBS Markets Incorporated.


👉 FBS is regulated by South Africa’s Financial Sector Conduct Authority (FSCA) and operates under the FSP license number 50885 under Trade Stone SA Pty Ltd. Several nations outside the EU, the UK, and Australia benefits from safe and compliant commerce under these laws.


👉 FBS is run in the EU and the UK by the Cyprus-based business Tradestone Ltd., which is registered and regulated by CySEC (license number 331/17) and offers cross-border brokerage services to nations within the EU and the UK.


FBS Client Fund Security and Safety Features

FBS Client Fund Security and Safety Features

👉 FBS maintains strong control over the extent of its operations and abides by the severe standards of these authorities. In the event of CySEC, FBS even offers traders protection under the Investors’ Compensation Fund (ICF) plan.


👉 This implies that, in addition to offering a stable and secure business environment, traders may be paid up to €20,000 if the firm goes bankrupt.


👉 FBS also has a presence in Australia where Intelligent Financial Markets Pty Ltd is licensed and regulated by the Australian Securities and Investments Commission (AFS license number 426 359).

FBS Awards and Recognition

FBS Awards and Recognition

👉 FBS is an award-winning broker that has been recognized in recent years for providing superior trading solutions and in Asia, Africa, and several other regions.

FBS Account Types and Features

FBS Review Account Types And Features

👉 FBS offers more account types than most other brokers, with options for both beginning and expert traders. FBS offers six account types that are appropriate for both beginner and experienced traders. The following are the accounts:

➡️ FBS Cent Account

➡️ FBS Micro Account

➡️ FBS Standard Account

➡️ FBS Zero Account

➡️ FBS ECN Account

➡️ FBS Crypto Account


👉 An inexperienced trader is someone who has never traded or has only dealt for less than a year. Beginner Rwandan traders are often unable to trade full-time throughout the week because they do not willing to take on the risk of trading large sums of money.


👉 Micro-lot trading is better suited to beginning traders who have lesser minimum investments. However, the spreads on these accounts are often higher than on accounts with a smaller minimum deposit. The Cent Account, which has a 1,000 RWF or $1 minimum deposit and enables micro-lot trading, is one of FBS’ most beginner-friendly accounts.

👉 Experienced Rwandan investors choose trading accounts with higher minimum deposits and tighter spreads. FBS’ Zero and ECN accounts are suitable for experienced traders since they have higher minimum deposits, smaller spreads, and a cost per lot traded.

👉 Six retail trading accounts are available, three of which are commission-free basic trading accounts, while the other two feature narrower spreads and a tiny fee charge to reimburse FBS for facilitating the deal.

💻 Live Account💰 Minimum Dep.📊 Average Spread💸 Commissions💵 Average Trading Cost
➡️ Cent1,000 RWF or $10.3 pipsNone8 USD
➡️ Micro5,100 RWF or $53 pipsNone30 USD
➡️ Standard102,000 RWF or $1000.5 pipsNone8 USD
➡️ Zero510,000 RWF or $5000.0 pips$20 per lot20 USD
➡️ ECN1,020,000 RWF or $1,000-1 pip$66 USD
➡️ Crypto1,000 RWF or $11 pip0.05%8 USD


FBS Live Trading Accounts

FBS Cent Account

FBS Review Cent Account

👉 The FBS Cent Account is fundamental in that cents are utilized for both the account balance and all transactions, regardless of the amount deposited. The Cent Account is a fantastic alternative for beginning traders due to the low-risk trading environment it provides.


👉 Experienced traders may use trades made with this account as a trial ground for new trading approaches. The Cent Account requires a lower initial deposit and allows for fewer assets than the Standard Account. To register this account, Rwandan traders need to deposit 1,000 Rwandan francs or an equivalent of $1.


👉 The floating spread begins at 1 pip and all trades made on this account are commission-free, which is why the spreads are wider than the commission accounts. Traders have the option of using leverage of up to 1:1000 and the Cent account is excellent for traders looking for a low-cost option to trade CFDs.

Account FeaturesValue
💰 Minimum Deposit Requirement1,000 RWF or an equivalent to $1
📊 Average spread Floating, from 1 pip
💸 Commission ChargesNone
💻 LeverageUp to 1:1000
⬆️ Maximum opening positions200
📈 Order volumeBetween 0.01 to 1,000 cent lots
💰 Market ExecutionFrom 0.3 seconds, STP
💵 Trading PlatformMetaTrader 4, MetaTrader 5, FBS Trader
💸 Tradable InstrumentsForex, precious metals, indices, energies, forex exotics, stocks
☪️ Swap-Free Islamic OptionYes


FBS Micro Account

FBS Review Micro Account

👉 The micro account is appropriate for beginning traders who do not deal in large quantities. This account type does not have a commission. However, the spreads are very wide at 3 pips EUR/USD, which is at the upper end of the scale.


👉 Traders may employ up to 3000:1 leverage and there is a minimum deposit of 5,100 RWF or an equivalent to $5. The Micro Account offers several advantages, including a 100% deposit bonus, level-up incentives, and cashback.


👉 Rwandan traders may also utilize the Trade Calculator, a terrific trading tool that can help both novice and experienced Rwandan traders accurately measure their gains and losses.

Account FeaturesValue
💰 Minimum Deposit Requirement5,100 RWF or an equivalent to $5
📊 Average spread Fixed, from 3 pips
💸 Commission ChargesNone
💻 LeverageUp to 1:3000
⬆️ Maximum opening positions200
📈 Order volumeBetween 0.01 to 500 lots
💰 Market ExecutionFrom 0.3 seconds, STP
💵 Trading PlatformMetaTrader 4, FBS Trader
💸 Tradable InstrumentsForex and precious metals
☪️ Swap-Free Islamic OptionYes


FBS Standard Account

FBS Review Standard Account

👉 These accounts are ideal for traders who prefer a more conventional approach to forex trading since they provide them with everything they want.


👉 This account is distinguished from others by its competitive spreads and absence of commission-based trading. This account has a minimum floating spread of 0.5 pips and does not have a commission. The leverage might be as high as 1:3000 and this is a basic account that is a “jack-of-all-trades” type of account that is suited for most traders.

Account FeaturesValue
💰 Minimum Deposit Requirement102,000 RWF or an equivalent to $100
📊 Average spread Floating, from 0.5 pip
💸 Commission ChargesNone
💻 LeverageUp to 1:3000
⬆️ Maximum opening positions200
📈 Order volumeBetween 0.01 to 500 lots
💰 Market ExecutionFrom 0.3 seconds, STP
💵 Trading PlatformMetaTrader 4, MetaTrader 5, FBS Trader
💸 Tradable InstrumentsForex, precious metals, indices, energies, forex exotics, stocks
☪️ Swap-Free Islamic OptionYes


FBS Zero Account

FBS Review Zero Account

👉 The FBS Zero Account is distinguished from the competition by its zero-pip spread. It is possible to generate greater profit margins and more exact profit estimates with this account than would otherwise be possible. Traders must make a minimum first investment of 510,000 Rwandan francs or an equivalent of $500.


👉 In terms of this, the Zero Account is cheaper than the ECN account and the account type has fixed spreads that begin at 0 pips (as indicated by the name).


👉 However, traders will be charged a fee that begins at $20 per lot. This account allows you to acquire large leverages of up to 1:3000.

Account FeaturesValue
💰 Minimum Deposit Requirement510,000 RWF or an equivalent to $500
📊 Average spread Fixed, 0 pips
💸 Commission ChargesFrom $20 per lot
💻 LeverageUp to 1:3000
⬆️ Maximum opening positions200
📈 Order volumeBetween 0.01 to 500 lots
💰 Market ExecutionFrom 0.3 seconds, STP
💵 Trading PlatformMetaTrader 4, FBS Trader
💸 Tradable InstrumentsForex, precious metals, Forex Exotics
☪️ Swap-Free Islamic OptionYes


FBS ECN Account

FBS Review ECN Account

👉 An Electronic Communications Network (ECN) Account is an account provided to professional traders looking for the best terms. This account type eliminates the need for any intermediaries, enabling both buyers and sellers to make transactions swiftly and transparently.


👉 Despite its hefty minimum deposit of 1,020,000 Rwandan francs or an equivalent to $1000, the ECN account is one of the most popular account types offered by FBS. Rwandan traders who use this account will be charged a floating spread beginning at zero pips.


👉 Even if the spread is maintained narrow, this account charges a $6 fee on each transaction. As a result, ECN accounts are ideal for high-volume traders. This account type supports leverage up to 1:500.

Account FeaturesValue
💰 Minimum Deposit Requirement1,020,000 RWF or an equivalent to $1,000
📊 Average spread Floating from -1 pip
💸 Commission Charges$6
💻 LeverageUp to 1:500
⬆️ Maximum opening positionsNone
📈 Order volumeBetween 0.01 to 500 lots
💰 Market ExecutionECN
💵 Trading PlatformMetaTrader 4, FBS Trader
💸 Tradable Instruments25 forex currency pairs
☪️ Swap-Free Islamic OptionNo


FBS Crypto Account

FBS Review Crypto Account

👉 Those who trade cryptocurrencies will discover that this account is a perfect match for their needs in terms of functionality. With the FBS Crypto Account, you may trade a variety of cryptocurrency currency pairs, cryptocurrency to fiat pairs, and cryptocurrency to precious metals.


👉 There are no other financial instruments that can be traded on this account and while the spread starts from 1 pip, there is a low commission of 0.05% charged. Traders are restricted to 1:5 leverage when they use the Crypto account, attributable to the risks associated with crypto trading.

Account FeaturesValue
💰 Minimum Deposit Requirement1,000 Rwandan francs or an equivalent to $1
📊 Average spread Floating from 1 pip
💸 Commission Charges0.05% for opening and 0.05% for closing positions
💻 Leverage1:5
⬆️ Maximum opening positions200
📈 Order volumeBetween 0.01 to 500 lots
💰 Market ExecutionFrom 0.3 seconds, STP
💵 Trading PlatformMetaTrader 5
💸 Tradable InstrumentsCryptocurrencies
☪️ Swap-Free Islamic OptionNo


FBS Base Account Currencies

While FBS allows and caters to Rwandan traders, RWF is not accepted as a foundation currency for accounts. When opening an account, the only currencies that may be utilized are USD and/or EUR.


FBS Demo Account

FBS Review 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.


👉 Trading with virtual money and real-time market data is feasible with FBS’ free demo accounts, which enable traders to test their Forex methods with virtual money before committing any real money to them. Getting started in the financial markets by using a demo account to learn how to trade is a terrific method to learn the ropes.


👉 You will be permanently deleted from the database when the trial term has expired, which will take place after 40 days. If this occurs, clients in Rwanda will have the option of opening a new demo account with FBS


FBS Islamic Account

FBS Review 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 Riba principles of Sharia law, which means that Muslim traders are often restricted in forex trading.


👉 Muslim traders may establish a live account with FBS and subsequently convert it to an Islamic account on any of the account types mentioned below:

➡️ FBS Cent Account

➡️ FBS Micro Account

➡️ FBS Standard Account

➡️ FBS Zero Account

How to open an Account with FBS in Rwanda

FBS Review Account Registration

👉 To create an account with FBS, all Rwandan traders must fulfil the following minimum deposit requirements:

➡️ Cent Account – 1,000 RWF or an equivalent to $1

➡️ Micro Account – 5,100 RWF or an equivalent to $5

➡️ Standard Account – 102,000 RWF or an equivalent to $100

➡️ ZERO Spread – 510,000 RWF or an equivalent to $500

➡️ ECN Account – 1,020,000 RWF or an equivalent to $1,000


👉 FBS makes opening a live account simple and quick. While FBS also provides Corporate and Joint Accounts, we will concentrate on starting an Individual Account:

➡️ You must first select “Open Account” and provide your name and email address.

➡️ You will then pick between a Real Account and a Demo Account.

➡️ You must then provide your complete name, phone number, email address, and date of birth. You must also choose your base currency, platform (you must select MT5 first before you can register an MT4 account), and leverage.

➡️ After this phase is complete, FBS requires at least two papers to accept you as an individual customer, including Proof of Identification – a current (not expired) colour scanned copy (in PDF or JPG format) of your passport.

➡️ If you do not have a valid passport, an ID card or driver’s license with your picture will suffice.

➡️ After completing this step, you must deposit at least the minimum amount necessary for your selected account via one of FBS’ deposit options.

➡️ The department of verifications will review your papers within 48 hours. After your papers have been validated and your personal area has been completely authorized, any deposits will be credited to your account.


👉 Before beginning trading, all Rwandan traders are recommended to read FBS’ risk disclosure, client agreement, and terms of operation. Overall, FBS’ account opening procedure is straightforward, and accounts are normally available for trading within 48 hours.

FBS Vs HF Markets Vs BD Swiss – Broker Comparison

🥇 FBS🥈 HF Markets🥉 BD Swiss
⚖️ RegulationIFSC, CySEC, FSCA, ASICFSCA, CySEC, DFSA, FSA, FCA, FSC, and CMA with registration in ACPR, BaFin, MNB, CONSOB, CNMV, FI, FMA, FSC, and other regionsCySEC, FSC, BaFIN, FSA
💻 Trading Platform• MetaTrader 4
• MetaTrader 5
• FBS Trader
• CopyTrade
• MetaTrader 4
• MetaTrader 5
• HF App
• MetaTrader 4
• MetaTrader 5
• BDSwiss Mobile
• BDSwiss Web
💵 Withdrawal FeeYesNoYes, <100 EUR withdrawals
✔️ Demo AccountYesYesYes
💰 Min Deposit1,1000 RWF5,100 RWF102,000 RWF
📊 LeverageUp to 1:30001:1000Up to 1:1000
📈 SpreadFrom 0.0 pips0.0 pipsFrom 0.3 pips
💸 CommissionsFrom $6$3 to $4$2 to $5
🛑 Margin Call/Stop-Out40%/ 20%• 40%/10%
• 50%/20%
📲 Order ExecutionMarketMarketInstant and Market
✔️ No-Deposit BonusYesNoNo
✅ Cent AccountsYesNoIn Progress
💻 Account Types• FBS Cent Account
• FBS Micro Account
• FBS Standard Account
• FBS Zero Account
• FBS ECN Account
• FBS Crypto Account
• Micro Account
• Premium Account
• Nigeria HFcopy Account
• Nigeria Zero Spread Account
• Auto Account
• Classic Account
• Premium Account
• VIP Account
• RAW Account
⚖️ BNR RegulationNoNoNo
💵 RWF DepositsYesYesNo
✔️ Rwandan franc AccountNoNoNo
📞 Customer Service Hours24/724/524/5
🛍 Retail Investor Accounts654
☪️ Islamic AccountYesYesYes
📉 Minimum Trade Size0.01 pips0.01 lots0.01 lots
📈 Maximum Trade Size500 lots60 lots50 lots
📊 Minimum Withdrawal Time15 to 20 minutes (maximum 48 hours)10 Minutes10 minutes
⏱ Maximum Estimated Withdrawal TimeUp to 7 daysUp to 10 working daysBetween 7 to 10 days
✔️ Instant Deposits and Instant Withdrawals?Instant DepositsNoNo

Overall Rating

Min Deposit

1 USD / 1 020 RWF


IFSC, FSCA (South africa), ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.



Total Pairs


Islamic Account


Trading Fees


Welcome Bonus

$140 / 142 877 RWF

Account Activation Time


FBS Trading Platforms

FBS Review Trading Platforms

👉 FBS offers Rwandan Traders a choice between these trading platforms:

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ FBS Trader


Desktop Platforms

FBS Review Desktop Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5


👉 Rwandan FBS traders can use the desktop versions of MetaTrader 4 and 5 for their trading needs. These two trading platforms are made by MetaQuotes Software Corporation, a company that focuses on making and designing trading software.


👉 There are a lot of similarities between the two platforms in terms of features and looks. The main difference between MT5 and its older version, MT4, is that MT5 has new and better features, while MT4 has many of the same features.


👉 There are desktop applications for both Windows and Mac OS X that can be used on both platforms.


WebTrader Platforms

FBS Review WebTrader Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5


👉 MetaTrader 4 and 5 make it easy to trade online because you do not have to download or install any software. Instead, you just need a browser to connect to the Internet and you can start trading right away.


👉 However, unfortunately, Web-based platforms tend to have fewer tools and settings that can be changed, which makes them less comprehensive than their desktop counterparts.


👉 All you need to trade on the MetaTrader online platform is a browser and an internet connection. No other programs are needed. Thanks to the platform, users can trade right away from any browser and operating system, no matter where they are.


Trading App

FBS Review Trading Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ FBS Trader


MetaTrader 4 and 5

👉 The MetaTrader 4 and MetaTrader 5 mobile trading apps for Android and iOS devices are supported by FBS.


👉 Traders should be aware that, compared to desktop trading platforms, mobile trading platforms have less functionality, such as fewer time frames and charting options. However, they can still cancel and change current orders, calculate profit or loss, and trade on the charts.


FBS Trader

👉 This is the FBS mobile trading platform, which has been particularly created for mobile trading. The apps for iOS and Android smartphones are available for download via the appropriate app stores for each platform. It offers a straightforward user interface that is easy to navigate.


👉 In addition to communicating with MetaTrader platforms, the FBS mobile trading app allows users to fund and withdraw cash from trading accounts, which is quite convenient. Additionally, the FBS Trader app provides access to real-time quotes, charts, and data, as well as a slew of additional features and conveniences.

FBS Range of Markets

FBS Review Range of Markets

👉 Rwandan Traders can expect the following range of markets from FBS:

➡️ Forex

➡️ Precious Metals

➡️ Indices

➡️ Energies

➡️ Stocks

➡️ Exotic Forex

➡️ Cryptocurrencies


Financial Instruments and Leverage offered by FBS

🔨 Instrument✔️ Number of Assets Offered📈 Maximum Leverage Offered
➡️ Forex371:3000
➡️ Precious Metals41:333
➡️ Indices121:33
➡️ Stocks961:100
➡️ Cryptocurrency1001:5
➡️ Energies51:33

Broker Comparison for Range of Markets

🥇 FBS🥈 HF Markets🥉 BD Swiss
➡️️​ ForexYesYesYes
➡️️​ Precious MetalsYesYesYes
➡️️​ ETFsNoNoNo
➡️️​ CFDsYesYesYes
➡️️​ IndicesYesYesYes
➡️️​ StocksYesYesYes
➡️️​ CryptocurrencyYesYesYes
➡️️​ OptionsNoNoNo
➡️️​ EnergiesYesYesYes
➡️️​ BondsNoYesNo

FBS Trading and Non-Trading Fees


FBS Review Spreads

👉 FBS traders should expect a broad variety of spreads depending on the traded financial instrument, account type, and market conditions, as is the case where floating or variable spreads are concerned.


👉 Rwandan traders can expect the following average spreads per the account type they choose and financial instrument that they trade:

💻 Account Type💰 Forex🔨 Metals💵 Indices🔋 Energies💸 Stocks💳 Forex Exotic📱 Crypto
Standard0.3 pips16 pips14 pips5 pips0.0 pips2 pips
Cent0.3 pips16 pips14 pips5 pips0.0 pips2 pips
Micro3 pips4 pips4 pips
Zero Spread0.0 pips0.0 pips0.0 pips
ECN-0.1 pips
Crypto25010 pips



FBS Review Commissions

👉 FBS imposes a commission on accounts when the broker’s fee is not included in the spread. Commissions pay the broker’s fee for facilitating the deal, and the following FBS retail investor accounts are subject to commissions:

➡️ FBS Zero Account – from $20 per lot

➡️ FBS ECN Account – $6

➡️ FBS Crypto Account – 0.05% for opening as well as 0.05% for closing positions


Overnight Fees, Rollovers, or Swaps

FBS Review Overnight Fees

👉 Another significant fee to consider when trading CFDs and forex financial instruments revolve around overnight fees.


👉 This fee is according to the difference between the interest rates of the two currencies involved in the transaction and is charged on overnight transfers. The swap rates for each financial instrument are posted on the FBS website.


👉 Swaps on open positions are computed automatically and shown in the trading terminal’s reports. Rwandan traders might anticipate the following overnight fees:

➡️ 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

FBS Review Deposits And Withdrawals

👉 FBS charges deposit and withdrawal fees on a few payment providers that are available for funding and withdrawing funds from a trading account, respectively.


👉 Traders that fund their trading accounts using Sticpay must pay a 2.5% charge plus an additional 0.3 USD commission. Furthermore, Rwandan traders could anticipate withdrawal fees on the following methods:

➡️ 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

👉 Finally, FBS levies a $5 inactivity fee for accounts that have been inactive for 180 days. This cost is withdrawn monthly until the account balance reaches zero, at which point the account is immediately cancelled.


Currency Conversion Fees

👉 Furthermore, when Rwandan traders choose EUR or USD as their account base currency and deposit/withdraw using UGX, a currency conversion fee is applied.

FBS Deposits and Withdrawals

FBS Review Deposits And Withdrawals

👉 FBS offers the following deposit and withdrawal methods:

➡️ Credit Card

➡️ Debit Card

➡️ Neteller

➡️ Sticpay

➡️ Skrill

➡️ Perfect Money

➡️ Local Exchanges


Broker Comparison: Deposit and Withdrawals

🥇 FBS🥈 HF Markets🥉 BD Swiss
Minimum Withdrawal Time15 to 20 minutes (maximum 48 hours)10 Minutes10 minutes
Maximum Estimated Withdrawal TimeUp to 7 daysUp to 10 working daysBetween 7 to 10 days
Instant Deposits and Instant Withdrawals?Instant DepositsNoNo


FBS Deposit Currencies, Deposit and Withdrawal Processing Times

💰 Payment Method💵 Deposit Currencies💸 Deposit Processing💰 Withdrawal Processing
Credit CardUSD, EURInstant• 15 to 20 Minutes, maximum 2 days
• The bank process is between 5 to 7 days
Debit CardUSD, EURInstant• 15 to 20 Minutes, maximum 2 days
• The bank process is between 5 to 7 days
NetellerUSD, EURInstant15 to 20 Minutes
Maximum 48 hours
SticpayUSDInstant15 to 20 Minutes
Maximum 48 hours
SkrillUSD, EURInstant15 to 20 Minutes
Maximum 48 hours
Perfect MoneyUSD, EURInstant15 to 20 Minutes
Maximum 48 hours
Local Exchanges

How to Deposit Funds with FBS

FBS Review How To Deposit Funds

👉 To deposit funds to an account with FBS, Rwandan Traders can follow these steps:

➡️ Rwandan traders can add money to their accounts by going to the Personal Area, clicking on the Finances tab, and clicking on “Deposit.”

➡️ Then, choose an online or offline payment method and click the “Deposit” button.

➡️ Choose the trading account in which you want to deposit funds and type in how much you want to put in.

➡️ On the next page, confirm the details of the deposit, and then finish making the deposit.

FBS Fund Withdrawal Process

FBS Review How To Withdraw Funds

👉 To withdraw funds from an account with FBS, Rwandan Traders can follow these steps:

➡️ To transfer money from your trading account to your bank account, go to the “Finances” section of your account and click on “Withdrawal.”

➡️ Choose the same method that you used when you made your last deposit.

➡️ Choose the trading account from which the money will be sent to your bank account.

➡️ Make sure that your withdrawal request is filled out correctly before submitting the form.

➡️ Determine the amount that you want to withdraw and enter it into the required field on the request.

➡️ Confirm the request to withdraw and send it to the relevant department at FBS for review and approval.

FBS Education and Research

FBS Review Education And Research


👉 FBS offers the following Educational Materials:

➡️ Educational Video Lessons

➡️ Seminars

➡️ Glossary

➡️ Forex Guidebook

➡️ FAQ

➡️ Tips for Traders

➡️ Webinars


Research and Trading Tool Comparison

🥇 FBS🥈 HF Markets🥉 BD Swiss
Economic CalendarYesYesYes
Trading ViewNoNoNo
Trading CentralNoNoYes
Market AnalysisYesYesYes
News FeedYesYesYes


👉 FBS offers Rwandan Traders the following Research and Trading Tools:

➡️ VIP Analytics

➡️ Currency Converter

➡️ Economic Calendar

➡️ Forex News Feed

➡️ Daily Market Analysis

➡️ Forex TV

➡️ Forex Calculators

FBS Bonuses and Promotions

FBS Review Bonuses And Promotions

👉 FBS offers Rwandan Traders the following bonuses and promotions:

➡️ Trade to Help

➡️ FBS Winning Season

➡️ FBS Leaders’ Summit

➡️ FBS League

➡️ FBS Gift Season

➡️ Cashback

➡️ Quick Start Bonus

➡️ Referral Program

➡️ Risk-free investments

➡️ Loyalty Program

➡️ FBS Traders Parties

➡️ Get a Car from FBS

➡️ Level-up Bonus

➡️ 100% Deposit Bonus

How to open an Affiliate Account with FBS

FBS Review Affiliate Program

👉 To register an Affiliate Account, Rwandan Traders can follow these steps:

➡️ To become an affiliate, go to the official FBS website and choose “Partnership” from the homepage’s main menu.

➡️ A dropdown menu will appear, from which affiliates and choose “Affiliate Program” under the “General Info” section.

➡️ Rwandans should next choose the green “Register a Partner Account” button.

➡️ A new page will open with the partner registration form. Before clicking the orange “Register as Partner” button, prospective affiliates should fill out this form with a valid email address and their full name. Rwandans can also join up using their credentials on Google, Facebook, or Apple ID.

➡️ Prospective affiliates may then join FBS using their authentic email address and be quickly registered into the trader’s cabinet, where they can choose “Partner Area” from the top menu.

➡️ On this page, affiliates may see their partner account number, balance, Partner ID, and overall progress.

➡️ This part also provides a range of advertising materials, referral links, thorough reports, and incentives to affiliates.


FBS Affiliate Program Features

FBS Affiliate Program Features

👉 FBS offers a comprehensive partnership program that may be able to assist partners in boosting their revenues overall. For instance, on EUR/USD transactions, FBS charges a $15 fee per lot that will go towards the affiliate, with payments made regularly to partners.


👉 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 from the program’s staff and management team.

FBS Customer Support

FBS Customer Support

👉 FBS offers Rwandan traders 24/7 multilingual customer support across several communication channels.


Customer SupportFBS’s Customer Support
⏰ Operating Hours24/7
🗣 Support LanguagesEnglish, Portuguese, Indonesian, Malay, Vietnamese, Arabic, Hindi, Chinese, and more
🗯 Live ChatYes
📧 Email AddressYes
📞 Telephonic SupportYes
✔️ Local Support in Rwanda?No
🥇 Overall quality of FBS Support4.7/5

FBS Corporate Social Responsibility

👉 It is critical to FBS that customers who utilize their trading services can profit from the opportunities for financial independence that the company offers. As part of its humanitarian efforts, FBS collaborates with charity traders and other non-profit organizations to assist individuals in need across the world.


👉 A monthly social media campaign called Desires Come True allows Rwandan traders to submit their most cherished wishes with FBS, with the broker hoping to make these desires a reality. The initiative is sponsored by FBS and is open to all Rwandan traders.

Overall Rating

Min Deposit

1 USD / 1 020 RWF


IFSC, FSCA (South africa), ASIC, CySEC

Trading Desk

MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.



Total Pairs


Islamic Account


Trading Fees


Welcome Bonus

$140 / 142 877 RWF

Account Activation Time


Our Verdict on FBS

👉 For good reason, FBS is one of the most popular venues to trade CFDs, stocks, and FX. Traders from around the world have a lot to appreciate about FBS’ product, which includes diligent regulatory scrutiny, fund segregation, ICF coverage, and a large choice of tradeable instruments.


👉 While foreign account users have the option of opening more than one account, significant leverage should be undertaken with prudence.


👉 Subsequently, although FBS may satisfy the demands of experienced traders with larger risk tolerance, it also caters primarily to beginner Rwandan traders.


👉 A safe, streamlined trading environment based on the popular MT4 or MT5 platforms delivers an instant dynamic experience.


👉 This is backed up by a substantial instructional library packed full of videos, webinars, and articles on how to make the most of the FBS ecosystem and investing overall.

FBS Pros and Cons

✔️ Pros❌ Cons
FBS is multi-regulated by Tier-1, 2, and 3 regulatory entities in four regionsThere are only two base account currencies namely USD and EUR, subjecting Rwandans to currency conversion fees
FBS offers a choice between 6 retail trading accountsIf the trading account is dormant for 180 days, a $5 fee will apply monthly
Rwandan traders are accommodated and have access to over 75 tradable instrumentsThere is a limited portfolio of tradable instruments
There is a choice between flexible and reliable deposit and withdrawal optionsThe Cent Account has extremely wide spreads
There are several social trading opportunities offered through the CopyTrade platform
FBS offers MetaTrader 4, 5, and its innovative proprietary trading software
There are demo accounts offered that allow traders to register a new account once it expires after 40 days
Muslim traders can convert four trading accounts into an Islamic account, exempting them from interests generated by overnight fees


Does FBS have Volatility 75?

No, FBS does not provide Rwandan traders access to VIX currently.


How long does an FBS deposit take?

Most payment methods allow for immediate payments into a bank account. In certain cases, such as local banks, this procedure can take around 15-20 minutes, but it will not take more than 72 hours in most cases.


Does FBS have Nasdaq?

Yes, Rwandan traders can trade Nasdaq with FBS alongside several other indices.


Does FBS have US30?

Yes, FBS has US30 along with JP225, US100, and several other popular indices that can be traded.


Is FBS regulated?

Yes, FBS is regulated by a high trust regulator (ASIC), average trust regulators (FSCA and CySEC), and one low trust regulator namely IFSC. All client funds are kept in segregated accounts and FBS offers investor protection through ICF.


What is the FBS ECN account?

Accounts on the ECN (Electronic Communication Network) are used by experienced traders seeking the best possible trading circumstances.


The ECN account enables buyers and sellers to transact directly with each other without the need for an intermediary. However, to create an ECN account, you must first deposit $1000 into your account.


Is FBS safe or a scam?

FBS is a safe and legitimate broker with an average trust score of 75 out of 100 and an overall rating of 9/10. This high rating is because of FBS’ regulatory status, sizable offering, and helpful client support.


Can you withdraw an FBS bonus?

No, you will not be able to withdraw the bonus itself. However, you will be able to withdraw the profit made while trading with it if you meet a few requirements such as connecting your Facebook account to your personal area, completing a short trading class and test, and trading a minimum of 20 active trading days (without missing 5 or more days).


What is the withdrawal time for FBS?

e-Payments take between fifteen to twenty minutes, up to a maximum of 48 hours. Credit and Debit cards take 10 to 20 minutes up to 7 working days, and bank wire can take up to several days for the withdrawn funds to appear in your bank account.


👉 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.

10/10 - (1 vote)

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