FXB Trading Review
- Excellent selection of trading platforms
- Wide array of tradeable instruments
- Low and competitive fees and commissions
- Good education center
- New and unregulated
- Located offshore
- Customer support is lacking quality
The FXB Trading brokerage provides traders from around the world with an innovative online trading experience with a vested interest in building long term relationships with their clients. FXB Trading was only recently founded in 2017 on the principles of trust, reliability and innovation. The brokerage is owned and operated by FAZCO CAPITAL LIMITED and have their headquarters located at Suite 305 Griffith Corporate Centre, Beachmont, VC0100, St. Vincent and the Grenadines. FXB Trading has yet to become regulated by any reputable regulatory authorities as they are an offshore trading brokerage. This raises some concerns to us as offshore trading brokerages are not nearly as safe as a broker in a regulated jurisdiction. Although, FXB Trading is a member of the Financial Commission, an international organization dedicated to resolving disputes with financial services providers and protecting traders with their commissions compensation fund. Therefore, FXB Trading appears to be a viable online trading brokerage and provides an exceptional array of tradeable assets and investment and trading services. However, there are so many reputable online trading brokerages available today, so how do you know if FXB Trading is the right broker for you? Find out in the following review where we delve deep into all aspects pertaining to FXB Trading and see if they are the right trading broker for you.
FXB Trading provides their clients with a wide selection of Meta Trader platforms including MT4, MT4 WebTrader, MT4 Mobile App, and MT5, MT5 WebTrader, and the MT5 Mobile trading app. This selection of trading platforms provides both beginner and experienced traders with all of the tools and features needed to successfully trade. The Meta Trader platforms are the most popular trading platforms in the world and utilize the most sophisticated trading technology available. Traders have access to complete charting packages that come with an extensive array of technical indicators, numerous chart types, time frames, and drawing and analysis tools. As well, the Meta Trader platforms support multiple advanced order types and facilitate one click trading directly from the charts. Traders also have access to automated trading with the us of Expert Advisors (EAs), made possible via the platforms advanced MLQ4 programming language. All in all, the platforms featured by FXB Trading are exceptional. Traders can also test them out via the FXB Trading demo account, where traders can test out the platforms with virtual cash and make trades in real-time.
FXB Trading provides traders with an impressive tradeable products offering that spans the global markets. In total, clients have access to over 300 tradable instruments across 5 lucrative asset classes including cryptocurrencies, forex, indices, commodities, and shares. See these markets overviewed below.
- Trade CFDs on crypto
- Bitcoin, Ripple, Ethereum, Ethereum classic, Litecoin, Dash, Bitcoin cash, Augur, Tether, Monero and Zcash
- No commissions
- Trade 24/7, 365 days a year
- Trade CFDs on 75 forex currency pairs
- Tight spreads
- Majors, Minors & Exotics
- UK100, DE30, AUS200, EU50, F40, US30, US100, US500
- Raw interbank spreads
- Flexible leverage
- Trade metals: Silver, Gold
- Trade Energies: Crude Oil, Brent Oil
- Tight spreads
- Trade in micro (0.01) lots
- Trade share CFDs on 250+ companies
- Global markets such as USA, UK, Europe and Asia
- Access to real-time data
Fees and Commission
The costs of trading with FXB Trading are implemented through the spreads and commissions. All in all, they are very tight and competitive with the industry standards as the spreads on the EUR/USD pair averaged around 0.3 – 0.4 pips in the early US market. While these spreads are very low, traders have to remember to take the commission into account which is $12 per lot for Basic trading account. The spreads combined with the commissions work out to be around 1.5 – 1.6 pips for the EUR/USD forex pair. Higher trading accounts benefit from lower commissions, see the commission amounts below.
- Basic: $12 per lot
- Standard: $8 per lot
- VIP: $6 per lot
- Premium: $4 per lot
Security and Fairness
The unfortunates aspect of FXB Trading is that they are an unregulated offshore trading brokerage. This along with the fact the brokerage is newly established, raises some concerns to us. However, FXB Trading appears to be trustworthy and of premium quality. Also, the brokerage is a member of the Financial Commission’s trader compensation fund. FXB Trading also employs advanced SSL encryption technology on all transmitted data to protect user information and funds from fraudsters and hackers. Overall, the FXB Trading broker appears to be safe, fair and secure, but they are very new and unregulated. Therefore, we advise traders to proceed with extreme caution if dealing with this trading broker.
The customer support provided by FXB Trading is available Monday to Friday, from 7:00 – 17:00. Support representatives can be reached via email, telephone, and live chat. The support representatives are very quick to respond but give short and limited responses. Additional methods of support include contact through FXB Trading’s social media channels and via the websites education center. Here, traders have access to numerous articles, tutorials, videos, courses, eBooks, and more.
FXB Trading is a new international online trading brokerage that offers traders a wide array of financial instruments to trade across the global markets. The brokerage features an excellent selection of trading platforms and features great educational resource to help traders succeed. The broker accomodates the needs of both beginner and experienced traders and features relatively low and competitive fees and commissions. All in all, FXB trading is an enticing new trading brokerage, but has yet to gain the trust and build a reputation among traders in the industry.
FXB Trading Q&A
The following are the common questions that customers inquired about FXB Trading.
Is FXB Trading regulated?
No, it is not regulated.
Is FXB Trading a scam?
Not sure, FXB Trading appears to be a legit broker, but they are located offshore and are unregulated.
Where is FXB Trading based?
FXB Trading is based at Suite 305 Griffith Corporate Centre, Beachmont, VC0100, St. Vincent and the Grenadines.