FBS is another favorite Forex brokerage company of South African traders. FBS Markets Inc is a highly reliable and trustworthy company regulated by IFSC. The broker is famous for its low trading costs, dedication to its clients, a great diversity of trading assets portfolio, and high-quality service. However, one of the main features that distinguish the broker is the fact that FBS has the lowest minimum deposit requirement across the Forex industry. The broker allows its clients to start trading Forex with just 15 South African rands, which is equivalent to 1 US dollar and is a minimum deposit for an FBS Cent account.
FBS has many different live trading account types and all of them have different minimum deposit requirements. These accounts come with various benefits and allow traders to use either more flexible leverage or higher spreads on the Forex currency pairs. Our review will cover the trading capital requirements across all account types of the broker and will explain the minimal resources needed for South African traders with FBS ZAR account.
FBS has five major live trading account types: Cent account, Micro account, Standard account, Zero Spread account, and an ECN account. Apart from these accounts, traders from South Africa can also register a demo trading account with the broker with requires no deposit whatsoever. FBS demo account offers a virtual account balance of up to 1 million US dollars or 14,500,000 South African rands. You can practice opening trades and setting position sizes on an FBS demo account. We will discuss all the requirements, minimum deposits, fees, and benefits of FBS accounts below.
FBS Cent account is the cheapest account of the broker. The minimum deposit for FBS Cent account starts at 15 South African rands or equivalent to 1 US dollar. The account offers a floating spread from 1 pip with 0 commissions applicable to trades. The maximum leverage can go up to 1:1000 on the account with a limit of 200 on maximum simultaneously open orders. The order volume is restricted from 0,01 to 1 000 cent lots (with 0,01 step). The execution of the orders starts from 0,3 sec, STP type. Usually, the withdrawal requests are processed similarly on all account types of the broker. The deposit or withdrawal request submitted via an electronic payment system will take a maximum of 48 hours to be processed. Furthermore, the FBS Cent account minimum withdrawal is 1 US dollar for e-payment methods and 50 US dollars for bank wire transfers.
FBS Micro account is another cheap real trading account type with the broker. This account type allows clients to start trading with just 72 ZAR (5 USD equivalent) minimum deposit requirement. For FBS Micro account holders broker offers a fixed spread from 3 pips with the maximum leverage of up to 1:3000. There are no commission fees applicable to this account type. The limit on maximum simultaneous open orders is similar to the rest of the accounts – 200 orders. The order volume is limited from 0,01 to 500 lots (with 0,01 step). The order execution on the FBS Micro account starts from 0,3 sec, STP.
The standard account is the most common account with all Forex brokers. It is usually the account with average deposit requirement, standard fee structure and more benefits than Micro and Cent accounts have. FBS Standard account minimum deposit is 1446 ZAR or equivalent to 100 US dollars. The broker offers a floating spread from 0,5 pip for Standard account holders. The maximum leverage can go up to 1:3000. The account operates commission-free, as well. The rest of the specifications are the same as for the FBS Micro account – the simultaneous orders limit is 200, the order volume limit is from 0.01 to 500 lots and the execution speed starts from 0.3 seconds.
Zero Spread is an account type for Forex traders looking for ultra-tight spreads on major currency pairs. The account type offers fixed spreads of 0 pip across the Forex assets. However, the account comes with a commission fee payable. The commission rate for the Zero Spread account type starts from 289 South African rands (equivalent to 20 US dollars) per single lot. The FBS Zero Spread account minimum deposit starts from 7230 ZAR (equivalent to 500 US dollars). The rest of the conditions are similar to FBS Standard and Micro account types.
This is the most expensive and specific account type found with the FBS broker. The floating spreads offered on the ECN account start from -1 pip. However, the leverage is limited up to 1:500. The commission rate for ECN account holders is 87 South African rands equivalent to 6 US dollars. FBS ECN Account minimum deposit starts at 14,460 ZAR or equivalent to 1000 US dollars. There are no limits on simultaneous open orders with the FBS ECN Account and the market execution type of the orders is ECN.
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