FBS Review 2024: Read Before You Trade | FXEmpire - FX Empire

I checked FBS's trading and non-trading costs and determined that they meet the industry average. The broker offers floating spreads from 0.9 pips and commission-free trading. Deposits and withdrawals are charge-free, but there is a small inactivity fee. The pricing mechanism is suitable for high-frequency trading.

FBS's Trading Fees

FBS's Spreads

I tested FBS's spreads during the most actively traded times – the London open at 8:00 a.m. GMT and just after the U.S. open at 2:45 p.m. GMT. The test was conducted on 27 December 2023. The results are shown in the table below:

Broken down by asset class and compared to the broader industry, FBS charges low spreads on FX pairs and share CFDs, low-to-average spreads on commodities, and high spreads on indices.

FBS' Swaps

A swap fee is a trader's cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

The values listed below are for one full contract (100,000 units) of the base currency.

The overnight fees charged by FBS are average compared to the broader industry. This means that the broker's services are also suitable for implementing longer-term trading strategies, such as day and position trading.

FBS Commissions

At FBS, trading in all asset classes, except for share CFDs, is commission-free. However, for trading share CFDs, FBS imposes a commission of 0.7% per traded lot. This rate aligns with the industry average.

FBS's Non-Trading Fees

FBS does not charge a handling fee for deposits and withdrawals, though third-party banking fees may apply depending on the chosen payment method. There is also a relatively small inactivity fee of EUR 30 charged on accounts that have been dormant for more than 180 calendar days. The fee is charged quarterly until account activity resumes or the balance drops to zero.

Are FBS's Fees Competitive?

The competitiveness of FBS's fees depends on the instruments traded. That is so mostly because the broker's floating spreads vary significantly across different markets. Generally speaking, FBS's fees meet the industry average.

Accounts Comparison

I have compiled the table below to help you better understand the difference between the trading fees on FBS's Standard account and a typical STP account in the industry. It illustrates the spreads and commissions I have recorded on the EUR/USD pair with FBS and what I usually record on STP accounts with other brokers. The table shows how much you will have to pay to trade 1 full lot (100,000 units) on the EUR/USD with a pip value of $10.

To calculate the cost of such a full-sized trade, I used this formula: Spread x pip value+commission

*The numbers in this chart are only illustrative and subject to change over time

**Round-turn commission

My tests indicate that FBS's trading costs on FX Majors fall slightly below the industry average. Such a trade would normally cost around $10 with most other brokers.

FBS Review 2024: Read Before You Trade | FXEmpire - FX Empire