FBS is a forex and CFD brand founded in 2009. Its international website is operated by FBS Markets Inc., licensed in Belize. EU clients deal with Tradestone Ltd in Cyprus (CySEC), Australian clients with Intelligent Financial Markets Pty Ltd, trading as FBS Oceania (ASIC), and some clients with FBS Trading (Seychelles) Ltd (FSA).
Research-based assessment This profile has not completed TTI’s on-site verification and 30-day platform review. How TTI verification works
| Regulator | Licence | Legal entity | Register status | Source |
|---|---|---|---|---|
| Financial Services Commission, Belize (FSC) | 4077102 | FBS Markets Inc. | Authorised Checked 7 Oct 2026 | Register entry for FBS Markets Inc. (opens in a new tab) 2 |
| Cyprus Securities and Exchange Commission (CySEC) | 331/17 | Tradestone Ltd | Authorised Checked 7 Oct 2026 | Register entry for Tradestone Ltd (opens in a new tab) 1 |
| Australian Securities and Investments Commission (ASIC) | AFSL 426359 | Intelligent Financial Markets Pty Ltd | Authorised Checked 4 Oct 2026 | Register entry for Intelligent Financial Markets Pty Ltd (opens in a new tab) 3 |
| Financial Services Authority Seychelles (FSA) | SD066 | FBS Trading (Seychelles) Ltd. | Authorised Checked 7 Oct 2026 | Register entry for FBS Trading (Seychelles) Ltd. (opens in a new tab) 4 |
Each licence was matched on the regulator’s own register on the date shown. Unverified claims are listed under Regulation and legal entities.
FBS’s four licensed companies are on their regulators’ registers: FBS Markets Inc. in Belize, which operates the international website, Tradestone Ltd in Cyprus, Intelligent Financial Markets Pty Ltd (FBS Oceania) in Australia and FBS Trading (Seychelles) Ltd. CySEC’s register shows Tradestone’s licence as current and its decisions contain no measure against the company. EU and Australian clients have segregated client money, negative balance protection and an ombudsman or AFCA, and EU clients the Investor Compensation Fund. The Belize and Seychelles terms, which allow leverage of up to 1:3000, contain no client money segregation terms, name no compensation scheme and send unresolved complaints only to the regulator, although the website says client funds are kept separately in insured accounts and the trading conditions give negative balance protection. The accounts of Tradestone’s UK subsidiary name Peakscout Ltd of Cyprus as ultimate controlling party, and Companies House names Denis Slinkin as its person with significant control, but FBS does not say who owns FBS Markets Inc. Brazil’s CVM ordered FBS Markets Inc. to stop soliciting Brazilian residents in 2017 and 2025, and FBS is on Indian and Malaysian lists of unauthorised platforms.
All four licensed client-facing companies are on their regulators’ registers: FBS Markets Inc. on the FSC Belize register (4077102), Tradestone Ltd on CySEC’s (331/17), Intelligent Financial Markets Pty Ltd in ASIC’s licensee data (AFSL 426359) and FBS Trading (Seychelles) Ltd on the FSA’s list of securities dealers.
The licences FBS states on its international, EU and Australian sites and in its Seychelles terms match the registers, including the FSC Belize number 4077102 and the Securities Industry Act 2021 registration.
The permissions cover what each company does: CySEC lets Tradestone deal on own account in all instrument classes, the FSC Belize licenses FBS Markets Inc. to trade in securities as principal and agent, ASIC lets Intelligent Financial Markets issue and make a market in derivatives and foreign exchange contracts for retail clients, and the FSA lists the Seychelles company as a securities dealer.
Each register shows the licence as current with no suspension or restriction. CySEC still lists Tradestone Ltd among current Cyprus investment firms, and its board decisions contain no measure against the company.
The sites and agreements give each company’s full name, registration number and address; the Cyprus details match CySEC’s register and the Seychelles address matches the FSA’s.
Reduced the enforcement dimension by 10 points (moderate severity, 1.6 years before the review).
Reduced the enforcement dimension by 2.5 points (moderate severity, 9.7 years before the review, counted at a quarter of its weight).
Reduced the enforcement dimension by 2 points (low severity, 0.9 years before the review).
Reduced the enforcement dimension by 1 points (low severity, 5.8 years before the review, counted at half weight).
Reduced the enforcement dimension by 0.5 points (low severity, 9.2 years before the review, counted at a quarter of its weight).
Each dimension is scored from its criteria, then weighted. Dimensions without enough evidence are left out and the remaining weights are rescaled. Open a dimension to see every criterion, our rationale and the sources.
Whether the firm’s licences exist, are current and cover what it offers.
Client-facing entities appear on the regulator’s register 1234
All four licensed client-facing companies are on their regulators’ registers: FBS Markets Inc. on the FSC Belize register (4077102), Tradestone Ltd on CySEC’s (331/17), Intelligent Financial Markets Pty Ltd in ASIC’s licensee data (AFSL 426359) and FBS Trading (Seychelles) Ltd on the FSA’s list of securities dealers.
Permissions cover the services offered 1234
The permissions cover what each company does: CySEC lets Tradestone deal on own account in all instrument classes, the FSC Belize licenses FBS Markets Inc. to trade in securities as principal and agent, ASIC lets Intelligent Financial Markets issue and make a market in derivatives and foreign exchange contracts for retail clients, and the FSA lists the Seychelles company as a securities dealer.
Clients can tell which regulated entity serves them 468910
Each website names the company that operates it and its licence: FBS Markets Inc. on fbs.com, Tradestone Ltd on fbs.eu and Intelligent Financial Markets on fbsaustralia.com. FBS Trading (Seychelles) Ltd is not named on fbs.com, although its terms are on FBS’s document server and its listed website redirects to fbs.com, so it is unclear which clients it serves.
Criteria and their weighting are explained in the methodology.
Whether you can find out who owns and runs the firm.
Ultimate ownership can be identified 1213141516
The 2025 accounts of Tradestone’s UK subsidiary, FBS Tradestone Ltd, name Peakscout Ltd (Cyprus, HE 421724) as ultimate controlling party, and Companies House names Denis Slinkin, a non-executive director of Tradestone, as its person with significant control. FBS does not say who owns FBS Markets Inc., which serves international clients; GLEIF says only that natural persons own it.
Financial statements are available 1316
Tradestone publishes annual Pillar III disclosures, verified by its external auditor (own funds ratio 372.66% at the end of 2025), and its UK subsidiary files audited accounts. We found no financial statements for FBS Markets Inc., the Australian company or the Seychelles company.
Criteria and their weighting are explained in the methodology.
What protects client money if something goes wrong.
Client money segregation is disclosed 1011171819
The EU agreement keeps client funds in segregated accounts and the Australian PDS holds client money in trust accounts not used for hedging. The Belize and Seychelles terms contain no client money segregation terms; for international clients segregation rests on the website’s statement that funds are kept separately in insured accounts at tier-1 banks.
Retail clients have negative balance protection 18192021
All four companies apply negative balance protection: the EU agreement and Australian PDS for all accounts and products, and the Belize and Seychelles trading conditions for all accounts, except where the company considers a client’s actions intentional.
Withdrawal terms are disclosed 11172223
The terms, help centre and EU costs policy set out processing times (within three business days for FBS Markets Inc.) and the conditions, and Tradestone charges no withdrawal fees except after deposits without trading. For international clients, minimum amounts and withdrawal fees are shown only in the client area.
Criteria and their weighting are explained in the methodology.
Regulator warnings, enforcement actions and final legal findings on record.
Starts at 100 and loses points for each substantiated adverse finding by severity and age. Allegations, complaints and clone warnings never count. Total deducted: 16 points.
Warning lists and enforcement records have been searched 5242526272829
We searched CySEC’s board decisions, the CVM’s declaratory acts, the Indian, Malaysian and Japanese lists, CNMV’s warned companies and the registers of FBS’s four regulators, and ran web searches of other regulators’ sites. The findings are listed on this profile.
Named on the Reserve Bank of India’s alert list of unauthorised forex platforms 25
19 Nov 2025. Reduced the enforcement dimension by 2 points (low severity, 0.9 years before the review).
Listed on the Securities Commission Malaysia Investor Alert List 26
1 Jan 2021. Reduced the enforcement dimension by 1 points (low severity, 5.8 years before the review, counted at half weight).
Listed on Bank Negara Malaysia’s Financial Consumer Alert List 27
31 Jul 2017. Reduced the enforcement dimension by 0.5 points (low severity, 9.2 years before the review, counted at a quarter of its weight).
Warned by Japan’s Financial Services Agency in 2015 for soliciting derivatives business without registration 28
7 Aug 2015. Not counted: more than 10 years old at the review date.
Criteria and their weighting are explained in the methodology.
How the firm handles complaints, and what independent records show.
Independent complaint outcomes show no adverse pattern
We found no published ombudsman or dispute-body outcomes for FBS’s companies.
Complaint data is disclosed
We found no complaint statistics published by FBS. AFCA publishes complaint figures for its members, but its data site refused our requests, so we could not check the Australian company.
Criteria and their weighting are explained in the methodology.
Whether costs, execution and risks are disclosed before you sign up.
An order execution policy is published 203334
The EU execution policy says Tradestone is principal and sole execution venue and names the liquidity providers it hedges with, and a conflicts of interest policy is published. FBS Markets Inc.’s trading conditions describe market execution through unnamed liquidity providers and contain no separate execution or conflicts policy.
Leverage and margin terms are disclosed 19202135
Leverage and margin levels are published for each company: up to 1:3000 by account equity with a 40% margin call and 20% stop out for the Belize and Seychelles companies, 30:1 to 2:1 for EU retail clients with an 80% margin call and 50% stop out, and ASIC’s limits and close-out protection in Australia.
Criteria and their weighting are explained in the methodology.
Whether public claims hold up and the firm communicates openly.
Marketing claims are accurate and attributable 711172036
Awards are attributed to named bodies and years and the success-rate figure to InvestinGoal, but the home page promises “no requotes” while the trading conditions let the company requote, the funding page says client funds are kept in insured accounts at tier-1 banks without naming banks, an insurer or any segregation terms, and the 27 million clients figure has no source.
Material changes are communicated 101118
Documents are dated and the Belize and Seychelles terms give ten business days’ notice of changes unless that is impractical, but Tradestone’s amendments take effect on publication, with notice by email or in the client area, and its charges may change without prior notice.
Criteria and their weighting are explained in the methodology.
What our visit confirmed in person: a real, staffed office of the assessed entity, not a ghost address.
We have not checked this firm’s office in person, so this dimension scores zero. We check offices through our on-site verification programme.
Real office at the stated address, not a ghost address
Office of the assessed entity
Staffed and operating
Criteria and their weighting are explained in the methodology.
What our on-site checks and 30-day platform testing found.
We have not completed an on-site assessment of this firm, so this dimension does not count and its weight is shared among the others.
Company identity
Regulatory claims
Office visit
Account opening
Platform usability
Costs and disclosures
Customer support
Deposits and withdrawals
Trading functions
Complaints process
Criteria and their weighting are explained in the methodology.
A brand can trade through several companies, each licensed in a different place with different protections. Check which entity your account would be with.
Financial Services Commission, Belize (FSC) · Reference 4077102 2
Trading in securities as agent; trading in securities as principal
Registered on 1 January 2025 under the Securities Industry Act 2021, with the domain www.fbs.com.
Cyprus Securities and Exchange Commission (CySEC) · Reference 331/17 1
Reception and transmission of orders, execution of orders, dealing on own account, portfolio management and investment advice in financial instruments 1 to 10; safekeeping, granting credit and investment research as ancillary services; cross-border services to EEA states.
Licence granted 7 August 2017; approved domain www.fbs.eu. Still on CySEC’s list of current Cyprus investment firms on 7 October 2026, with no suspension or restriction shown and no board decision about the company.
Australian Securities and Investments Commission (ASIC) · Reference AFSL 426359 3
General advice, dealing and market making in derivatives and foreign exchange contracts, for retail and wholesale clients
Licence start date 13 December 2012.
Financial Services Authority Seychelles (FSA) · Reference SD066 4
Securities dealer
Listed by the FSA as a securities dealer with trade name FBS; the licence number is FBS’s own (the register shows none).
No licence recorded for this entity.
No licence recorded for this entity.
No licence recorded for this entity.
Warnings, enforcement actions, legal findings, allegations and complaint records are labelled separately. What each label means.
The Reserve Bank of India’s Alert List, updated as on 19 November 2025, includes FBS (https://fbs.com) among entities that are neither authorised to deal in forex under the Foreign Exchange Management Act nor authorised to operate a forex trading platform in India. The list warns residents but does not allege fraud.
On 21 February 2025 the CVM said it had found signs that FBS Markets Inc. and Mitsui Markets LTD. were seeking investors resident in Brazil through fbs.com/pt and ptfbs.com/pt without authorisation. By Ato Declaratório CVM 23.105 of 20 February 2025 it ordered them to suspend immediately any public offering of securities intermediation services, including through websites, apps and social media, under a daily fine of R$1,000.
The Securities Commission Malaysia’s Investor Alert List includes “FBS Malaysia / FX Trade Pro”, whose websites include https://fbs.com/, for carrying on unlicensed capital market activities of dealing in securities and derivatives. The entry also lists look-alike domains and Telegram channels. The list records the entry under the year 2021 without a specific date; we use 1 January 2021. The entry was still on the list when we checked on 7 October 2026.
Bank Negara Malaysia’s Financial Consumer Alert List of unauthorised companies and websites includes “FBS Malaysia”, with the website https://fbs.com/ among others, Telegram channels and two local collecting agents, under the date 31 July 2017. The entry was still on the list when we checked on 7 October 2026.
On 10 January 2017 the CVM said that FBS Markets Inc, Trader Forex LTDA, Marcel Mafra Bicalho and others responsible for fbs.com, ptfbs.com and traderforex.com.br were not authorised to seek clients resident in Brazil for forex trading. By Ato Declaratório CVM 15.440 of 5 January 2017 it ordered them to stop offering forex investment opportunities, under a daily fine of R$1,000 each.
On 7 August 2015 Japan’s Financial Services Agency warned FBS Markets Inc., then of Belmopan, Belize, for soliciting over-the-counter derivatives trading over the internet without registration in Japan, under the service name “FBS”. The warning is more than ten years old and no longer affects the score.
Firms can respond to their profile and to any finding. No response has been published for FBS. How firms can respond.
| Review date | Result | Methodology | Status |
|---|---|---|---|
| 7 Oct 2026 | Trust score 81 out of 100 Strong | 1.2 | Current |
No corrections have been made to this profile.
Licence 331/17 granted on 7 August 2017, company registration 353534, address 89 George A, Mairoza complex, block A, 1st Floor, Potamos Germasogeias, Limassol, approved domain www.fbs.eu. Authorises reception and transmission, execution of orders, dealing on own account, portfolio management and investment advice in financial instruments 1 to 10, with safekeeping, granting credit and investment research as ancillary services, and cross-border services to EEA states. On 7 October 2026 the company was on CySEC’s list of current Cyprus investment firms, not on its list of former firms, and no suspension or restriction was shown.
The FSC’s public register of licensed and registered service providers lists FBS MARKETS INC. under number 4077102 as active, registered on 1 January 2025, for trading in securities as agent and as principal, with the domain www.fbs.com and the email support@fbs.com. It names Englebert Elvis Perera as chief executive officer and Jeovan Alexander Mai as securities representative.
Lists AFSL 426359 held by Intelligent Financial Markets Pty Ltd (ABN 48 155 185 014), North Sydney, from 13 December 2012. The licence covers general advice, dealing and market making in derivatives and foreign exchange contracts, and dealing in some other products for others, for retail and wholesale clients.
Lists FBS Trading (Seychelles) Ltd among licensed securities dealers, trade name FBS, at Office 1B on Ground Floor of House of Francis, Ile du Port, Mahe, with the website https://ftrading-sc.com, and Mr Lakis Agathocleous as a representative accredited with it. The register does not show licence numbers.
We searched all 1,173 board decisions in CySEC’s online list (announced from 2014 to 2 October 2026) for Tradestone and FBS, and on 7 October 2026 checked the newest announcements, to 5 October 2026. None concerns Tradestone Ltd or another FBS company.
Read with a browser because the page lists its documents by script. The footer says the website is operated by FBS Markets Inc., registration number 000001317, registered by the Financial Services Commission under the Securities Industry Act 2021 with licence number 4077102, office address The Bentley, #16 Cor A Street & Princess Margaret Drive, Belize City; that FBS Markets Inc. does not serve residents of jurisdictions including the USA, the EU, the UK, Israel, India, Iran and Myanmar; and that payments are managed by HDC Technologies Ltd (HE 370778, Limassol, Cyprus). It gives the phone numbers +357 22 010970 and +501 611 0594 and the email support@fbs.com. Its risk warning is general and gives no loss percentage. The page links the terms and conditions, trading conditions, risk warning, AML policy, complaint handling policy and privacy policy. From Cyprus the bare fbs.com address redirects to the EU site, while pages such as fbs.com/en and fbs.com/legal-documents load.
Says FBS operates “under multiple local FBS licenses” and is regulated by the FSC (Belize). Its timeline says FBS celebrated its 15-year anniversary in 2024 and welcomed its 27-millionth client in 2022, and it claims more than 100 trophies; no source is given for the client figure. The page names no directors or managers.
Says Tradestone Ltd is regulated by CySEC under licence 331/17, is a member of the Investor Compensation Fund and keeps client funds segregated from its own. The footer names Tradestone Limited (HE 353534) as owner and operator of the website, with its office at 89 Vasileos Georgiou Street, 1st Floor, Office 101, Potamos Germasogeias, Limassol and its registered address at Arch. Makariou III & Vyronos, P. Lordos Center, Block B, Office 203, Limassol, and says the FBS brand is represented in the EU by Tradestone Limited. It warns that 66.43% of retail investor accounts lose money when trading CFDs with this provider.
The footer says the website is operated by Intelligent Financial Markets Pty Ltd (ACN 155 185 014), trading as FBS Oceania, authorised and regulated by ASIC under AFS licence 426359, which is authorised to operate under the FBS brand and represents it in Australia; the site is not intended for residents outside Australia. It links the product disclosure statement, terms and conditions, financial services guide, target market determination and complaints policy. Its news and blog items date from 2021 and 2022.
Agreement of FBS Trading (Seychelles) Ltd., company number 8424408-1, regulated by the FSA under licence SD066, at 1B, Ground Floor, House of Francis, Ile du Port, Mahe; payments are managed by Rylstone Holding Ltd at the P. Lordos Center address in Limassol. Like the FBS Markets Inc. terms, it has no client money segregation terms and no compensation scheme, and gives ten business days’ notice of amendments unless that is impractical; Seychelles law applies. It gives the website www.ftrading-sc.com, which redirects to fbs.com.
Client agreement of FBS Markets Inc., incorporated in Belize (certificate 000001317) and regulated by the FSC Belize under licence 4077102, office The Bentley, Belize City; payments are managed by HDC Technologies Ltd of Limassol. It contains no terms on segregating client money, names no compensation scheme and lets the company set off negative balances against other accounts. Withdrawals are processed within three business days where feasible; minimum amounts and withdrawal commissions are shown in the client area. Amendments take effect on publication, with ten business days’ notice unless that is impractical. Disputes go to the internal complaints process, under Belize law and the exclusive jurisdiction of the Belize courts for the company’s benefit. The company does not serve residents of the EEA, the UK, the US, India and other listed countries.
The registry lists Tradestone Limited (HE 353534), HDC Technologies Ltd (HE 370778) and Peakscout Ltd (HE 421724) as registered companies. Its free search does not show officers or shareholders.
Says the company executes client orders in CFDs as principal, on MetaTrader 5 only since 2024. Its board at the end of 2025 was Denis Slinkin (non-executive director), Christos Kakourides and Kseniia Maklakova (executive directors) and Lakis Agathocleous and Diofantos Nathanael (independent non-executive directors). The total own funds ratio was 372.66% at 31 December 2025, and the disclosures are verified by the external auditor A.V. Savvides Ltd. The report does not name the shareholders.
The LEI index records FBS Markets Inc. (LEI 8945008VSNYD1FA4Y633) with registration number 119717 and the address 2118 Guava Street, Belama Phase 1, Belize City, and records Tradestone Limited (213800B6UXCBCR52FA15) and FBS Tradestone Ltd (2549007X1U5X3A5BI469, London) with offices at 89 Vasileos Georgiou A, Limassol. It reports that natural persons own FBS Markets Inc. and FBS Tradestone Ltd, without naming them, and no known consolidating parent for Tradestone Limited and Intelligent Financial Markets Pty Ltd (261700XCXH3TIWWDAE67).
Incorporated on 30 September 2021, registered office 2nd Floor, 10-12 Bourlet Close, London W1W 7BR, nature of business security and commodity contracts dealing. Officers: Tradestone Ltd (secretary and director) and Christos Kakourides (director). Denis Slinkin (born November 1982, Cypriot, resident in Cyprus) has been the person with significant control since 30 September 2021, with 75% or more of the shares and votes and the right to appoint directors; Tradestone Ltd was registered and removed on the same day.
Filed on 23 September 2026 and audited by Nicholas Peters & Co, which drew attention to going concern; the scanned accounts were read with text recognition and checked against the page. The company is in its establishment phase, is applying for FCA licences and depends on its parent, Tradestone Ltd (HE 353534), which was owed EUR 1,316,367 at the year end. The notes name Peakscout Ltd, of the P. Lordos Center, Limassol (HE 421724), as the ultimate controlling party. The loss before tax was EUR 368,252.
Says FBS keeps traders’ funds “in insured accounts at multiple tier-1 banks, separate from company balances”, without naming the banks or an insurer, and offers commissions from 0 and instant automated withdrawals. Lists leverage of up to 1:3000, an initial deposit from $5, a margin call at 40% and a stop out at 20%. Payment methods and their limits and fees are shown in the client area.
Client funds are held in segregated accounts with central banks or credit institutions in the EU or EEA, banks authorised in third countries, qualifying money market funds or approved electronic payment providers; no institution is named. Negative balance protection applies to all accounts, and retail clients are covered by the Investor Compensation Fund. Dormant accounts (no activity for 180 days) may be charged EUR 30 a quarter. Charges may change without prior written notice. Amendments take effect on publication on the website and are notified by email or in the client area; a client who objects within ten business days has the account suspended. The version history lists updates from July 2021 to July 2026.
Issued by Intelligent Financial Markets Pty Ltd (AFSL 426359, Suite 509, 99 Walker Street, North Sydney). The company is a market maker acting as principal and hedges with counterparties it does not name. Client money is held in pooled trust accounts with an authorised deposit-taking institution, which is not named, under the Australian client money rules and is not used to meet hedging obligations. Negative balance protection applies to all products, and ASIC’s retail leverage limits and margin close-out protection apply. Complaints go to the compliance officer and, if unresolved after 30 days, to AFCA; the AFCA paragraph calls the firm “Prospero”. Conversions are made at spreads that may be wider than those on the platform.
Negative balance protection applies to all accounts: the company covers a negative balance after positions are closed, except in exceptional cases where it considers the client’s actions intentional. Margin call at 40% and stop out at 20%; leverage by equity from 1:3000 (Standard account, equity under USD 200) down to 1:400 above USD 150,000. Orders are executed by market execution through several unnamed liquidity providers, and clause 4.19 lets the company requote when the price changes while it processes an instruction to close a position. Spreads follow the contract specifications and may widen; currency conversion uses an exchange rate that includes the company’s mark-up, which is not stated.
Negative balance protection applies to all accounts, except where the company considers the client’s actions intentional; margin call at 40% and stop out at 20%; leverage by equity of up to 1:3000.
The financial department reviews withdrawal requests within 24 hours; withdrawals to e-wallets and payment systems arrive the same day and to bank accounts or cards in 2 to 7 business days, and withdrawals follow the deposit methods in a set order. Other articles of the same help centre say card withdrawals return each deposit plus a withdrawal fee, without stating the fee, and that bank transfers usually take 7 to 10 business days.
Explains spreads, swaps, commissions and dormant fees with worked examples, and defines a currency conversion fee without stating its rate. The company charges no deposit or withdrawal fees, except where a client withdraws without trading.
Downloaded on 7 October 2026 (914 acts). Lists Ato Declaratório 15.440 of 5 January 2017 (published 9 January 2017) and 23.105 of 20 February 2025 (published 21 February 2025) against FBS MARKETS INC, and no act against another FBS company. The linked act PDFs no longer load.
Lists entities not authorised to deal in forex or operate forex trading platforms in India. Entry 8 is FBS, https://fbs.com. On 7 October 2026 the RBI’s document server put our request through a bot check, so we used the copy downloaded on 4 October 2026.
Checked on 7 October 2026. Includes an entry dated 2021 for “FBS Malaysia / FX Trade Pro”, whose websites include https://fbs.com/ alongside look-alike domains such as pelaburan-fbs.pro and fbsmy.com and Telegram channels, for carrying on unlicensed capital market activities of dealing in securities and derivatives. Entries for “FBS Trading Berhad / FBS Global Traders Sdn Bhd” (2021) and a potential clone using an FBS-named Telegram channel (2023) describe schemes misusing the name; we do not treat them as findings about FBS.
Checked on 7 October 2026. Lists “FBS Malaysia”, with the website https://fbs.com/ among others such as fbsmy.com and msbrokerfbs.com, Telegram channels and two local collecting agents, under the date 31 July 2017.
Lists FBS Markets Inc., Suite 5, Garden City Plaza, Mountain View Boulevard, Belmopan, Belize, warned in August 2015 for soliciting over-the-counter derivatives trading over the internet without registration in Japan, under the service name “FBS”. A May 2017 entry for Parallax Incorporated, Kingstown, St Vincent and the Grenadines, under the service name “FBS”, notes that this is the same service name as that of FBS Markets Inc., warned on 7 August 2015; we have not linked Parallax Incorporated to FBS.
On 7 October 2026 we searched CySEC’s board decisions, the CVM’s declaratory acts, the RBI, Securities Commission Malaysia, Bank Negara Malaysia and Japan FSA lists, CNMV’s engine for warned companies and the CySEC, FSC Belize, ASIC and FSA Seychelles registers for FBS, FBS Markets, Tradestone and Intelligent Financial Markets, and ran web searches of the FCA, ASIC, Consob, CNMV, AMF, FSMA and Canadian regulators’ sites. We found the CVM orders of 2017 and 2025 and the alert-list entries on this profile. The FCA’s warning about “Fbs Fx Trading” (www.fbsfxtrading.com, 22 September 2023, a US address) concerns a look-alike and is not a finding about FBS; the FCA’s own search page refused our requests.
Complaints go to support@fbs.com or the Belize City office on a complaint form, and the company aims to give a final decision within 14 days. Complaints should be made within two business days of the event (48 hours for statement discrepancies), but late complaints are still reviewed. A client who is dissatisfied with the outcome can complain to the FSC Belize, the regulator.
Complaints are acknowledged within five days with a reference number. A client who is not satisfied with the final decision, or who has none after three months, can go to the Financial Ombudsman of the Republic of Cyprus within four months.
Published on the document server of fbspaktrade.com, a copy of the FBS international site operated by FBS Markets Inc. A client who is dissatisfied with the outcome of a complaint can complain to the FSA Seychelles, the regulator.
The company acts as principal and is the sole execution venue for client orders, derives its prices from feeds of global investment banks and other liquidity providers, and hedges its market risk with LMAX Broker Europe Ltd, EXT Ltd and Finalto Financial Services Limited. It sets out the execution factors.
Explains how the company identifies, manages and discloses conflicts of interest; its version history runs from May 2021 to December 2025.
Retail leverage ranges from 30:1 to 2:1 depending on the underlying asset, with separate limits for professional clients; a margin call occurs at a margin level of 80% and a stop out at 50%.
Advertises leverage of up to 1:3000, deposits from $5, spreads from 0.7 pips, no trading commission and order execution from 0.01 seconds with “no requotes”. It says “nearly 30%* of traders succeed”, footnoted as the average success rate across selected brokers according to InvestinGoal studies, and lists awards with the awarding body and year, such as Finance Magnates Annual Awards 2024 and CFI.co 2025. The structured data embedded in the page gives the address Fabers Road Extension, Unit 1, Belize City.
Market alert published on 21 February 2025. The CVM found signs that FBS Markets Inc. and Mitsui Markets LTD. were seeking investors resident in Brazil through https://fbs.com/pt/ and https://ptfbs.com/pt/ without authorisation and, by Ato Declaratório CVM 23.105, ordered them to suspend any public offering of securities intermediation services immediately, under a daily fine of R$1,000.
Market alert published on 10 January 2017. By Ato Declaratório CVM 15.440 the CVM declared that FBS Markets Inc, Trader Forex LTDA, Marcel Mafra Bicalho and others responsible for fbs.com, ptfbs.com and traderforex.com.br were not authorised to seek clients resident in Brazil for forex trading, and ordered them to stop offering it, under a daily fine of R$1,000 each.
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