FBS is a globally recognised forex broker known for its user-friendly trading conditions and a range of account types. One of the most attractive offerings by FBS is its cent account. This account allows traders to trade in cents, allowing traders to trade in smaller units. This is an excellent option for clients who are new to forex trading or those who prefer to trade with smaller volumes.
In this FBS cent account review, we will dive into the specifics of this account focusing exclusively on its offerings for international clients.
| That means the article is not aimed at traders from the UK and the European Economic Area (EEA) (they have different conditions). If you are a visitor from such a country, please leave this page. |
We will explore its features, advantages and disadvantages. We will also provide a brief guide on how to open this account for those considering it. Let’s begin.
What is the FBS Cent Account?
The FBS Cent Account is a unique trading account which allows traders to participate in the forex market using cents instead of standard currency units, which reduces risks of losses and allows you to trade as little as 0.0001 Standard lot. Moreover, this offers a lower entry point into forex trading, making it accessible to a wide variety of people. This account has a maximum trade volume of 500 cent lots which are equivalent to 5 standard lots.
The FBS cent account offers floating spreads from as low as 0.7 pips for major currency pairs with no commission charged. Such low spreads can help traders save on trading fees and maximise their profit potential. On another note, this account offers a significantly high maximum leverage of 1:1000. This means that traders can control fairly large positions using small capitals. Traders have the opportunity to open up to 5 Cent accounts for MetaTrader 4 and MetaTrader 5 each.
Let’s take a look at some of the advantages and disadvantages of the FBS Cent account:
Advantages of Using an FBS Cent Account
- Low Financial Risk – Because people are trading with smaller units, traders can participate in financial markets with lower risk exposure.
- Low Minimum Deposit – FBS requires a low minimum deposit of just $5, which makes the FBS cent account highly accessible.
- High Leverage – The availability of leverage up to 1:1000 allows traders to open positions with a much smaller initial investment.
- Access to MT4 & MT5 – MetaTrader 4 and MetaTrader 5 are two of the best trading platforms for their intuitive user interface and advanced capabilities.
Disadvantages of Using an FBS Cent Account
- Limited Profit Potential – While trading in cents reduces risk, it also limits the potential for large profits.
- Limited Trade Volume – FBS cent accounts only support a maximum trade volume of 5 standard lots.
How to Open an FBS Cent Account
Interestingly, you can only open an FBS cent account through an invite link from an IB (Introducing Broker).
An IB can create the link in their Partner Area by selecting the Open Cent Account option. Through this link, you will find a registration page requesting you to fill in your details – your email address and your full name). Once you fill in your details, you will need to agree to the terms and conditions before proceeding.
Unfortunately, if you visit the FBS official site directly they do not provide you with the option to open a cent account. Fortunately, we are FBS partners, so you can open an FBS Cent account using the link below. Alternatively, you can choose a link from another FBS IB Partner—it’s entirely up to you.
Once you fill in your email address and your name and hit proceed this page will appear.
From here, you will need to complete a verification process that involves verifying your email and a KYC process. After that, you will be able to make a deposit and start trading. As mentioned, you can open up to 5 Cent accounts for MetaTrader 4 and MetaTrader 5 each. The good thing is you can open these accounts alongside your standard account.
Who Should Use the FBS Cent Account?
The FBS Cent Account is a unique offering that delivers features that most traders would be interested in. However, this account is particularly well-suited for the following types of traders:
People New to Trading
The FBS Cent Account is ideal for people who are just starting their journey in forex trading. The low minimum deposit and micro lot trading allow them to enter the forex market with minimal risk. Overall, the FBS Cent account provides a real trading environment where new traders can practice trading without the pressure of high stakes.
Traders Testing Strategies
Even experienced traders can benefit from a Cent account. It provides a platform to experiment with new trading strategies or test EAs (Expert Advisors) in a live market environment without risking substantial amounts of money.
Traders with Limited Capital
The Cent account’s low entry barrier makes it ideal for individuals who want to participate in forex trading but have limited funds to invest. Moreover, trading in cents means that even small amounts of capital can be used effectively.
Traders Who Want to Get Familiar with the FBS Platform
Some traders may be considering trading with FBS but are unsure about committing larger sums. In this case, the Cent account offers a way to explore the broker’s platform, trading conditions, and customer service with lower financial risk.
What Markets Are Available on FBS?
While we have looked at the various features of the FBS Cent account, it is good to know what market products are available to traders on this account. FBS offers traders immense opportunities to diversify their portfolios on over 550 market products which are all CFDs. Here is a breakdown of the market instruments availed by FBS:
- Forex – FBS supports the trading of a variety of currency pairs which include majors, minors, and a bunch of exotics.
- Metals – Traders on the FBS broker site can explore trading opportunities on a variety of metals including gold, platinum, palladium, and silver.
- Indices – FBS offers its traders the opportunity to explore some of the world’s most popular indices including the US30, the US100, and US100, among others.
- Energies – With FBS, investors can trade CFDs on energy instruments like oil and gas.
- Stocks – Finally, FBS allows its clients to trade the stocks of a variety of companies including popular ones like Apple, Alibaba, BP, and Barclays, among many others.
The Credibility of FBS
While the FBS Cent account has a compelling offer, it is important for traders to ensure the broker they choose to use is credible enough. To assess the credibility of a broker, we always consider its regulatory background and its overall reputation among traders. Internationally, this broker operates under the regulation of FSCA in South Africa and the FSC in Belize, among others. While regulations alone are not enough, this broker has a strong track history of being reliable. Moreover, this broker also holds regulations from other well-regarded organisations.
On another note, this broker has a solid rating from traders, showing general satisfaction among traders. It has a 4.3-star rating out of 5 stars on Trustpilot after more than 3,900 reviews. It now has a client base of over 27 million customers, making it one of the biggest forex brokers in the world.
Closing Remarks
The FBS Cent Account is a valuable option for traders looking to trade the forex market with minimal risk and investment. Its low minimum deposit, cent trading, and high leverage provide a unique opportunity to experience live market conditions with a small investment and minimal risk.
It is particularly well-suited for trading newcomers, strategy testers, and those with limited capital. While profit potential and trade volume are limited, the account serves as an excellent training ground. Overall, FBS remains a reputable broker with a strong track record, making its Cent Account a worthwhile consideration for traders.
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