Warning Trading at FBS Broker

To Agus...

This indeed needs to be investigated, besides that it is necessary to know the trading rules at the broker in question.

Stop out/forced closing can occur if, the floating is proportional to the margin or 20%, 30%, 40%, 50% etc..... of the margin or balance. In this case, each broker has different rules.

At broker A, a margin trade of $100, then if the floating is of that value it can be closed, even though the balance / Equity is still sufficient to withstand the floating.

At broker B, a margin trade of $100, then if the floating is 20%, or so many percent can be forcibly closed.

and so on.

Therefore, it is necessary to know what Balance, Equity, Margin, Free margin, and margin level are.

On the one hand, also pay attention to the trading method used, some brokers do not allow trading balance, BUY in account 1 SELL in account 2.

BUY EUR/USD in account 1, SELL EUR/USD in account 2.
BUY/SELL EUR/USD in account 1, SELL/BUY the cross currency

Some brokers do not allow Hedging, and certain trading systems. Arbitrage is included in trading that is not allowed.

There are free swap accounts, then after 1 week a swap will be applied.
There are free swap accounts, but after a week, or 2 weeks all orders must be closed, if not then they will be forcibly closed by the broker.

and so on.

Therefore, it is necessary to know the rules applied by the broker.
If there is anything you don't understand, you can contact the broker in question

Thanks

Obviously, fbs is not good. There are many flaws. Only the customer service is good.

Criticism should also be accompanied by evidence and examples. Otherwise, anyone can talk.

What are the flaws of FBS, what is the evidence...

Sorry, this is not to defend FBS or anything

I opened a bonus, after getting profit and while orders were arriving, suddenly my meta4 stopped working. After asking customer service, I was told to log in again from the personal area... and suddenly I was told my account was closed unilaterally.... with reasons a-z.... meaning fb is indeed unprofessional....

@ Stela:

From the regulatory body, as of today FBS is still regulated by IFSC Belize and CySEC Cyprus. I checked on FBS Indonesia, the regulation is still the same:

                             

For the security of trading and the security of your funds, if you are serious about trading, we suggest choosing a broker that is already regulated by an internationally credible regulatory body, namely: CFTC, NFA, FCA, FSA, FINMA, MiFID, ASIC and FMA.
A credible regulatory body is one that has been tested and is internationally recognized, and imposes strict sanctions on brokers if they are found to have violated the agreed terms. The regulatory body is also responsible for the security of client funds.

If you feel there is fraud, you can file a complaint with the regulatory body accompanied by valid evidence. A credible regulatory body will usually respond and sanction the broker if it is proven to be true.
From experience, while I have been trading with brokers regulated by credible regulatory bodies, there have been no problems.

Why wasn't the regulator mentioned above, BAPEBTI, included, bro?? hahaha is it not a credible regulation? :P

@ James:

Regarding that matter, we have no comment, Sir. The point is that Bappebti is the only legal regulatory body in Indonesia. So, for brokers who want to operate in Indonesia, they must obtain a license from Bappebti.

@Stela
That market maker broker monitors its clients' accounts, if there is potential for profit and good analysis, the broker will definitely be closed, why would a broker keep a tiger cub that will make things difficult for the broker in the future. As Master @Martin said, try to find a broker regulated by a credible international body, if you are serious about trading, choose a market execution type broker, meaning a broker that forwards transactions directly to the market, not a market maker broker. Profitable greetings.

@James
Bappebti is an Indonesian government regulatory body, I have read Law No. 10 of 2011 concerning commodity futures trading. The content is good at protecting traders very well, not only that market-making brokers are prohibited from operating in Indonesia according to Law No. 10 of 2011. Perhaps Bappebti is currently still in the process of licensing brokers, not yet at the stage of closely supervising registered brokers.

Anyway, forex trading is still relatively new to Indonesia, the first law only appeared in 1997. Everything needs a process, one day Bappebti will be on par with trusted foreign regulatory bodies. But for now, just trade with brokers that have good standards from Australia, England and America. If you want to be serious, use market execution brokers, not market-making brokers. Profit greetings.

For the bonus program alone, FBS is lying. They said we are entitled to a bonus if we trade for a profit of $100 provided by FBS for the next few days. After making a profit and hoping to withdraw the remaining profit, there was a message saying you do not meet the requirements. What other requirements are there to copy? There were no detailed requirements at the beginning.

Is the FBS broker still worth using this year?

To Ucai,

If you are participating in a promotional program or a bonus account, it is best to first understand all the applicable terms and conditions. Almost all brokers who hold promotional programs or bonuses always apply rules in the form of terms and conditions that traders must fulfill. The most common requirement is a minimum lot that must be traded and also a difference in price/pips (the size of the pips can vary) between the opening and closing prices. Therefore, please re-read the terms and conditions page on the bonus account program you are participating in.

To Malvin,

Even though this broker is just an off-shore class broker, the level of popularity and the level of trust of Indonesian traders towards this broker is still very high. In addition, with the still good reputation and reviews of FBS broker from thousands of users, this green-logo broker is still worth using for small to medium-sized capital scales.

Hopefully this can help.

Has FBS broker not yet obtained a license from Bappebti?

To Jamal,

No. FBS broker does not/has not yet obtained regulation from Bappebti.