Namibian Dollar Forex Trading Accounts
Scam Forex Brokers in Ghana
FBS Review
FBS is a regulated forex broker in Ghana with a trust score of 75%. FBS offers Ghanaians forex cashback rebates of up to 43%. FBS offers comprehensive market analysis and a range of trading assets.
- Lesche Duvenage
Jump to:
Overview
Regulation and Safety of Funds
Awards and Recognition
Account Types and Features
Account Registration
Broker Comparison
Trading Platforms
Range of Markets
Fees
Deposit and Withdrawals
Education and Research
Bonuses and Promotions
Affiliate Programs
Customer Support
Social Responsibility
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.8/5
Min Deposit
USD 5 (67 GHS)
Regulators
IFSC, FSCA, ASIC, CySEC
Trading Desk
MT4, MT5
Crypto
Yes
Islamic Account
Yes
Trading Fees
Low
Account Activation Time
24 Hours
Overview
FBS, established in Cyprus in 2009, has become a significant player in the global trading community, serving over 16 million clients globally, including a significant number from Ghana.
As a brokerage firm, FBS offers tailored services that cater to the diverse needs of traders, with a low initial deposit requirement of just 66 GHS.
The broker adheres to stringent regulatory standards set by IFSC, CySEC, ASIC, and FSCA, earning the trust of Ghanaian traders.
Furthermore, FBS prioritizes user experience by offering platforms like MetaTrader 4, MetaTrader 5, and their own FBS Trader app.
The broker’s reputation is based on regulatory compliance and its active presence in the trading community, with numerous awards highlighting its reliability and excellent service.
FBS’s offerings, including competitive spreads and no commission fees, attract traders seeking transparent and cost-effective trading conditions.
Overall, FBS’s journey is not just about meeting regulations and expanding its market; it is about creating a personalized trading environment that aligns with Ghanaian traders’ goals and trading styles.
How many clients does FBS service globally?
FBS serves over 16 million clients globally, demonstrating its popularity and integrity among traders, including those from Ghana.
Can Ghanaian traders get multilingual help from FBS?
Yes, FBS provides multilingual customer support, including services in English, displaying its dedication to aiding Ghanaian traders and offering customized service.
FBS at a Glance
| 📊 Year Founded | 2009 |
| ⚖️ Regulation | IFSC, CySEC, ASIC, FSCA |
| 🏛 Ease of Use Rating | 4/5 |
| 💰 Bonuses | None |
| 🌎 Support Hours | 24/7 |
| 📱 Trading Platforms | MetaTrader 4, MetaTrader 5, FBS Trader |
| 📈 Account Types | Retail, Demo, Islamic |
| 💰 Base Currencies | USD, EUR |
| 📊 Starting spread | From 0.7 pips |
| 📊 Leverage | 1:3000 |
| ✔️ Currency Pairs | 71 |
| 💳 Minimum Deposit (GHS) | 66 GHS ($5) |
| 📉 Inactivity Fee | None |
| 📱 Website Languages | English, German, Spanish, French, Italian, Portuguese, South African, Malay, Ghanaian, Turkish, Korean, and others |
| 💰 Fees and Commissions | Fees and Commissions Spreads from 0.7 pips, commission-free |
| ✔️ Affiliate Program | Yes |
| 🔎 Banned countries | Japan, United States, Canada, United Kingdom, Myanmar, Brazil, Israel, the Islamic Republic of Iran |
| 📉 Scalping | Yes |
| 📈 Hedging | Yes |
| 💻 Tradable Assets | Forex, Precious Metals, Indices, Energies, Stocks, Crypto CFDs |
| 👉 Open Account | 👉Open Account |
Regulation and Safety of Funds
Regulation in Ghana
FBS is not regulated by the Bank of Ghana (BoG). However, FBS’s global regulations are listed in the table below.
Global Regulations
| 📱Registered Entity | 🌎Country of Registration | ✔️Registration Number | 🔎Regulatory Entity | 📊Tier | 💳License Number/Ref |
| FBS Markets, Inc. | Belize | – | IFSC | 3 | 000102/460 |
| FBS Markets, Inc. | Cyprus | 353534 | CySEC | 2 | 331/17 |
| Intelligent Financial Markets Pty Ltd | Australia | ABN 48 155 185 014 | ASIC | 1 | 426359 |
| Trade Stone SA (PTY) LTD | South Africa | 2018/514734/07 | FSCA | 2 | FSP 50885 |
Protection of Client Funds
| 🔎Security Measure | 📱Information |
| Segregated Accounts | Yes |
| Compensation Fund Member | No |
| Compensation Amount | None |
| SSL Certificate | Yes |
| 2FA (Where Applicable) | Yes |
| Privacy Policy in Place | Yes |
| Risk Warning Provided | Yes |
| Negative Balance Protection | Yes |
| Guaranteed Stop-Loss Orders | No |
Is FBS regulated in Ghana?
No, FBS is not regulated by the Bank of Ghana. However, FBS is regulated by the ASIC, FSCA, CySEC, and IFSC.
What happens to my funds if FBS experiences financial difficulties?
The FBS policy of separating customer assets ensures that your money is safe, even in unlikely financial troubles where the FBS can’t meet its financial obligations (e.g. due to bankruptcy).
Awards and Recognition
While researching FBS, we found that the brand has received numerous industry awards, including the following few recent ones:
- The Forex Brokers Awards named FBS the “Best Mobile Trading Platform 2022,” citing the broker’s innovative and user-friendly mobile trading solutions.
- FBS has been named the “Best Global Broker Asia 2022” by International Business Magazine, emphasizing its strong presence and superior services in the Asian market.
- The firm has also received the “Best Forex Broker Malaysia 2022” title from the Global Banking and Finance Awards, demonstrating its dedication to offering high-quality brokerage services in Malaysia.
- FBS was awarded “Best Currency Broker Nigeria 2022” by the Global Banking & Finance Review for its services in Nigeria, indicating its adaptability and excellence in the Nigerian currency market.
- FBS’s commitment to the Indian market was recognized with the “Best Forex Broker India 2022” award from the World Finance Forex Awards.
- FBS received the “Best ECN Broker 2021” award from World Finance, recognizing the broker’s exceptional ECN services worldwide.
FBS Account Types
| 💻 Live Account | 👉 Open Account | 📉 Minimum Dep. | 💻Platforms | 💸 Leverage |
| ➡️Retail Account | 👉Open Account | 66 GHS ($5) | MetaTrader 4, MetaTrader 5, FBS Trader | 1:3000 (Forex major pairs) |
Retail Account
The FBS Retail Account is a flexible and competitive option for Ghanaian traders, offering a minimum deposit of 66 GHS, making it accessible for beginners and seasoned traders.
The FBS Account does not charge commission fees but charges spreads starting at 0.7 pips and offers leverage of up to 1:3000 for major Forex pairs.
The account covers various markets, including Forex, metals, indices, energies, stock CFDs, and crypto CFDs. Furthermore, it supports trading on platforms like MetaTrader 4, MetaTrader 5, and the FBS Trader platform, allowing traders to utilize well-known tools and strategies effectively.
Demo Account
The FBS Demo Account is a valuable training tool for Ghanaian traders, offering a risk-free practice of trading strategies with virtual funds.
Furthermore, the demo account is ideal for beginners and experienced traders, offering 90 days of learning and strategy refinement. Overall, the demo account familiarizes traders with market dynamics, boosting confidence and preparing them for real-world trading.
Islamic Account
FBS Islamic Account caters to Ghanaian traders adhering to Islamic finance principles, offering access to cryptocurrencies and equities on platforms like MetaTrader 4 and 5.
The FBS Islamic option excludes swap or rollover interests on overnight positions, ensuring a Swap-Free trading experience while maintaining service quality. This aligns with Sharia law and FBS’s commitment to ethical finance and inclusivity.
Professional Account
The FBS Professional Account is a high-level option designed for experienced Ghanaian traders, offering enhanced leverage options and sophisticated tools for complex trading strategies and capital trading activities.
Furthermore, qualified traders must undergo a thorough evaluation to access its features. The account represents FBS’s understanding of advanced traders’ needs, providing access to all market and technological capabilities supporting Ghana’s most experienced traders.
Can Ghanaian traders open a swap-free Islamic account with FBS?
Yes, FBS provides a Swap-Free Islamic Account for Ghanaian traders that adheres to Sharia standards and eliminate swap or rollover fees on overnight holdings.
What are Ghanaian traders’ qualifying criteria for opening an FBS Professional Account?
Ghanaian traders applying for an FBS Professional Account must demonstrate their skill through a thorough vetting procedure, guaranteeing that only experienced traders can access additional perks and leverage choices.
How To Open an FBS Account step by step
To register an account with FBS, follow these steps:
Step 1: “Open Account”
Go to the official FBS website and choose a language in which the website must be displayed.
Click the “Open Account” option prominently featured on the homepage.
Step 2: Register
Choose between quick registration using a social network like Google or Facebook and completing the manual registration form, which requires your full name as it appears on your ID and email address.
After registration, check your email inbox (or Junk/Spam folder) for a verification link from FBS; click it to activate your account and validate your email address as part of the security procedure.
After validating your email, choose the account you want to open—Retail, Demo, or Professional—each tailored to different trading experiences and objectives.
Choose your favorite trading platform, such as MetaTrader 4, MetaTrader 5, or the FBS Trader app, and download it to your laptop, PC, or mobile device to ensure a smooth trading experience.
To meet regulatory requirements, complete your profile verification by supplying the relevant identity papers, such as a government-issued ID and evidence of domicile.
Once your account has been approved, proceed to deposit funds using one of the options available, selecting “Ghana” to guarantee transactions are handled in local currency.
Finally, you are ready to start trading on FBS, complete with the tools and resources the broker provides to help you with your trading activity.
Must I provide my identity documents during the FBS account registration process?
Yes, Ghanaian traders must complete the identity verification procedure by producing a copy of their government-issued ID (passport or driver’s license) and evidence of domicile to ensure regulatory compliance and account security.
What types of accounts can Ghanaian traders select during the FBS account registration process?
Ghanaian traders can choose from various account types, including Retail, Demo, Islamic, and Professional accounts, allowing them to match their trading preferences and objectives to their selected account type.
FBS Vs Vantage Markets Vs FXCM – Broker Comparison
| 🥇 FBS | 🥉 Vantage Markets | 🥈 FXCM | |
| ⚖️ Regulation | IFSC, CySEC, ASIC, FSCA | CIMA, VFSC, FSCA, ASIC | FCA, ASIC, CySEC, FSCA |
| 📱 Trading Platform | • FBS Trader • MetaTrader 4 • MetaTrader 5 | • MetaTrader 4 • MetaTrader 5 • ProTrader • Vantage App • Vantage Social trading • ZuluTrade • Myfxbook AutoTrade • DupliTrade | • Trading Station • MetaTrader 4 • NinjaTrader • ZuluTrade • Capitalise AI • TradingView Pro • QuantConnect • MotiveWave • AgenaTrader • Sierra Chart • SeerTrading • NeuroShell Trader |
| 💰 Withdrawal Fee | Yes | Yes | Yes, bank wire |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | 70 GHS ($5) | 673 GHS ($50) | 673 GHS ($50) |
| 📊 Leverage | Up to 1:3000 | 1:500 | • 1:30 (FCA) • 1:400 (Others) |
| 📊 Spread | From 0.7 pips | From 0.0 pips | From 0.2 pips EUR/USD |
| 💰 Commissions | $0 | From $3 | Only the spread is charged |
| ✴️ Margin Call/Stop-Out | 30%/ 10% | 80%/50% | 100%/50% |
| 💻 Order Execution | Market | Market | Market |
| 💳 No-Deposit Bonus | No | No | No |
| 📊 Cent Accounts | Yes | No | No |
| 📈 Account Types | Retail Account | PRO ECN | Active Trader Professional Trader |
| ⚖️ BoG Regulation | No | No | No |
| 💳 GHS Deposits | No | No | No |
| 👥 Customer Service Hours | 24/7 | 24/5 | 24/5 |
| 📊 Retail Investor Accounts | 1 | 3 | 1 |
| ☪️ Islamic Account | Yes | Yes | Yes |
| 📉 Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
| 📈 Maximum Trade Size | 500 lots | 100 lots | 50 million per trade on Forex |
| 💰 Minimum Withdrawal Time | 15 minutes | Instant | Instant |
| 📊 Maximum Estimated Withdrawal Time | Up to 7 days | 3 – 5 working days | Up to 2 working days |
| 💸 Instant Deposits and Instant Withdrawals? | Deposits | Yes | Yes |
FBS Trading Platforms and Software
FBS Trader
FBS Trader is a platform for Ghanaian traders, offering simplicity, efficiency, and essential analytical tools. It provides competitive spreads and flexible leverage, allowing traders to stay updated on market trends and manage risks effectively.
FBS Trader is mobile-compatible, allowing traders to trade anytime, anywhere, and enables them to focus on their trading without being overwhelmed by unnecessary features.
MetaTrader 4
FBS’s MetaTrader 4 is a popular platform for traders in Ghana, offering an intuitive interface and seamless integration with FBS’s trading conditions.
Furthermore, the FBS MT4’s responsive customer support and multilingual services, including support for Ghanaian languages, make it a trusted environment for traders to explore various financial markets within a familiar environment.
MetaTrader 5
MetaTrader 5 shows FBS’ commitment to offering cutting-edge trading technology to Ghanaian traders. It provides more features and a broader selection of trading products, such as currency pairings, precious metals, and indexes.
Furthermore, FBS MT5’s powerful analytics complement FBS’s instructional materials, allowing traders to make more educated decisions.
With MetaTrader 5, FBS traders in Ghana can access tools and features that supplement FBS’s competitive offers, giving a full trading solution suited to their specific requirements.
What benefits does MetaTrader 4 provide for Ghanaian traders on FBS?
MetaTrader 4 on FBS offers Ghanaian traders a familiar and comprehensive trading platform with configurable charts, automated trading features, and a large library of technical indicators suitable for executing various trading methods.
Can Ghanaian traders use the MetaTrader 5 platform on FBS?
Yes, Ghanaian traders can use MetaTrader 5 on FBS, which has sophisticated trading tools, increased charting capabilities, and access to a greater choice of financial products such as stocks and futures.
FBS Trading Instruments & Products
FBS offers the following trading instruments and products:
- Stocks – FBS offers Ghanaian traders 125 stock CFDs, allowing them to invest in major global corporations, potentially leading to profits and dividends from selected companies by leveraging market movements.
- Cryptocurrencies – FBS provides Ghanaian traders with 5 cryptocurrencies, allowing them to speculate on the fluctuating prices of digital currencies like Bitcoin and Ethereum.
- Forex – FBS provides a wide range of 71 currency pairs, including major, minor, and exotic pairs that offer unique trading opportunities in emerging market economic developments.
- Indices – Ghanaian traders can trade 11 global indices with FBS, allowing them to monitor broad market trends without investing in individual stocks representing various economies and market sectors.
- Energies – FBS enables Ghanaian traders to trade crude oil and natural gas, allowing them to participate in global energy markets influenced by geopolitical factors and supply and demand changes.
- Precious Metals – FBS provides traders with eight precious metal instruments, including gold and silver, to diversify their portfolios and hedge against inflation or currency devaluation.
How many currency pairs are available to trade on FBS?
FBS provides Ghanaian traders access to 71 currency pairs, including main and exotic pairings, allowing them to profit from market opportunities and currency swings.
Can Ghanaian traders trade commodities on the FBS?
Yes, Ghanaian traders can trade eight precious metals and energies, including gold, silver, crude oil, and natural gas, providing extra diversification choices beyond standard forex trading.
Spreads and Fees
FBS Spreads
FBS is a prominent forex trading broker in Ghana, offering competitive rates starting at 0.7 pips for major currency pairs.
This is particularly beneficial for frequent traders, like day traders or scalpers, as it reduces costs and increases profitability.
Furthermore, FBS offers different spread structures for different instruments, allowing traders to choose markets that suit their trading volume and strategies. The spreads are designed to support trading goals without adding excessive costs.
FBS Commissions
FBS offers a trader-centric approach by not charging any commission fees on trades, making it a cost-effective option for new and experienced traders.
Furthermore, this transparent policy aims to create a trading environment that supports new and experienced traders in Ghana, positioning FBS as an accessible gateway to global markets.
FBS Overnight Fees
FBS applies standard overnight or swap fees for trades beyond market hours, varying depending on the instrument and trade direction.
A clear policy on overnight fees helps traders manage long-term positions effectively, considering the costs of holding positions open.
Understanding these fees is crucial for efficient trade planning and risk management, especially for traders operating across different time zones. FBS provides detailed information on overnight charges on its platform.
FBS Deposit and Withdrawal Fees
FBS charges Ghanaian traders a 3.5% fee for deposits through MTN and Vodafone Mobile Money and a 2.5% fee for withdrawals through e-wallets like Skrill. Furthermore, according to the provider, Credit/Debit Card withdrawal fees range from 0.5 EUR to 2 EUR.
Despite these fees, FBS offers various deposit and withdrawal methods to cater to Ghanaian traders’ financial preferences, ensuring convenience and cost-effectiveness.
FBS Inactivity Fees
FBS waives inactivity fees, promoting flexibility among traders. This allows them to take breaks or reduce trading frequency without penalties, creating a pressure-free environment that caters to different schedules and lifestyles.
Currency Conversion Fees
FBS offers guidance on currency conversion fees, but traders should know that transactions involving different currencies from their account’s base currency will incur these fees.
Although FBS offers no accounts denominated in the local currency, its efforts to support Ghanaian transactions demonstrate its commitment to providing a seamless trading experience for Ghanaians, requiring traders to be mindful of potential conversion costs.
What are the average spreads for major currency pairings on FBS?
FBS provides competitive spreads starting at 0.7 pips for key currency pairs, giving Ghanaian traders cost-effective trading possibilities and reduced transaction fees.
Does FBS charge fees for trades?
FBS does not impose commission fees on transactions for Ghanaian traders. They can enjoy commission-free trading, which allows them to optimize their trading gains without incurring additional costs.
FBS Deposit & Withdrawal Options
| 💳 Payment Method | 🌎 Country | 💴Currencies Accepted | ⏱️Processing Time |
| 💰Credit/Debit Card | All | EUR | Instant – 7 days |
| 💳Neteller | All | USD | Instant – 7 days |
| 💳Perfect Money | All | USD | Instant – 7 days |
| 🪙 Sticpay | All | USD | Instant – 7 days |
| 💸Skrill | All | USD | Instant – 7 days |
| 🪙MTN Mobile Money | Cameroon, Ghana, Uganda | XAF, GHS, UGX | 15 minutes – 72 hours |
| 💰Vodafone Mobile Money | Ghana | GHS | 15 minutes – 72 hours |
Deposits
How to Deposit using Bank Wire Step by Step
✅Log into your FBS account and choose the ‘Deposit’ option.
✅Select ‘Bank Wire’ from the list of deposit methods.
✅Set Ghana as your country for GHS deposits.
✅FBS will offer Ghanaian traders their bank account information and a SWIFT code special.
✅With these data, start a bank wire transfer through your bank, which can be done online, over the phone, or in person at the bank.
✅Validate the transfer on your FBS account dashboard to check that it is logged and credited correctly.
✅Bank wire transfers can take several business days to appear in your FBS account, especially international transfers from Ghana, owing to bank processing requirements.
How to Deposit using Credit or Debit Card Step by Step
✅Access your FBS trading account and go to the ‘Deposit’ area.
✅Select the option to deposit using a credit or debit card.
✅Enter your card information, including the card number, expiration date, and CVV code.
✅Specify the amount you wish to deposit in GHS.
✅Complete any further security verifications requested by your card provider.
How to Deposit using e-Wallets or Payment Gateways Step by Step
✅Log into your FBS account.
✅Go to the ‘Deposit’ area and choose an e-wallet or payment gateway that accepts GHS transactions.
✅Enter the amount you wish to deposit and any further information asked.
✅You will be redirected to the selected e-wallet to finish the transaction, which is generally instant.
How to Deposit using Mobile Money Step by Step
✅Login to your FBS account and choose ‘Deposit.’
✅Choose ‘MTN Mobile Money’ or ‘Vodafone Mobile Money’ as your deposit method.
✅Enter your Mobile Money number and amount in GHS.
✅You will then be prompted on your mobile device to confirm the deposit.
✅Once verified, the deposit is normally handled within a few minutes to hours.
FBS Withdrawals
How to Withdraw using Bank Wire Step by Step
✅Log onto your FBS account and navigate to the ‘Withdrawal’ area.
✅Choose ‘Bank Wire’ as your withdrawal method.
✅Enter your bank account information, including the account number and the SWIFT/BIC code.
✅Specify the withdrawal amount.
✅Submit the withdrawal request and follow any verification processes required by FBS.
How to Withdraw using Credit or Debit Cards Step by Step
✅Enter your FBS trading account and navigate to the ‘Withdrawals’ section.
✅Choose the credit or debit card withdrawal option.
✅If your card information has not already been saved in your account, enter it here.
✅Enter the withdrawal amount in EUR or USD.
✅Complete all necessary security processes and submit your withdrawal request.
How to Withdraw using e-Wallets or Payment Gateways Step by Step
✅How to Withdraw using e-wallets or Payment Gateways Step by Step
✅Sign into your FBS account and look for the ‘Withdrawal’ button on the dashboard.
✅Select an e-wallet or payment gateway from the list that accepts GHS transactions.
✅Enter the withdrawal amount and any further information.
✅Follow the steps to confirm your withdrawal request.
How to Withdraw using Mobile Money Step by Step
✅On your FBS client dashboard, go to the ‘Withdrawal’ area.
✅Select ‘MTN Mobile Money’ or ‘Vodafone Mobile Money’ as the withdrawal method.
✅Enter your Mobile Money number and the desired amount in GHS.
✅Confirm the information and submit your withdrawal request. The funds should be available in your Mobile Money account within minutes to hours, depending on processing periods.
How can Ghanaian traders withdraw funds from their FBS accounts?
Ghanaian traders can withdraw funds using a variety of ways, including bank wire transfers, e-wallets such as Neteller and Skrill, mobile money solutions (MTN and Vodafone), and credit/debit cards, giving them flexibility and ease in accessing their funds.
Are there any restrictions on how much funds Ghanaian traders can withdraw from their FBS accounts?
Yes, withdrawal limitations can vary based on the withdrawal method and account verification status. Thus, Ghanaian traders should verify their account settings for particular restrictions and conditions.
Sign into your FBS account and look for the ‘Withdrawal’ button on the dashboard.
Select an e-wallet or payment gateway from the list that accepts GHS transactions.
Enter the withdrawal amount and any further information.
Follow the steps to confirm your withdrawal request.
Leverage and Margin
FBS is a leading forex broker in Ghana, offering a range of leverage options to cater to different trading styles, including major forex pairs.
This high leverage level allows traders to increase market exposure, potentially leading to significant position growth, especially in forex trading.
Furthermore, FBS’s margin requirements are designed to protect both traders and the broker from excessive losses, especially during volatile market conditions.
However, Ghanaians must keep a minimum margin level to keep their positions open, and FBS calculates this level precisely.
Traders should also note that margin requirements change as market conditions fluctuate, reflecting the dynamic nature of leverage and its role in managing risk.
FBS’s real-time leverage adjustment feature safeguards traders facing rapid market movements, preventing them from unintentionally exceeding their risk limits.
Furthermore, FBS’s careful selection of leverage and margin settings reflects its commitment to providing a structured and flexible trading environment, striking a balance between opportunity and prudent risk management.
What leverage options does FBS provide for Ghanaian traders?
FBS offers Ghanaian traders various leverage options, with ratios of up to 1:3000 for popular currency pairs, allowing them to increase their trading positions and potential profits.
How does leverage influence the margin requirements for FBS?
Leverage increases FBS margin needs since higher leverage ratios let traders hold larger positions with less beginning capital but also carry more risk. When managing their trading accounts, Ghanaian traders should consider leverage seriously.
10 Best Forex Brokers in Ghana for 2024
Rank
Broker
Review
Regulators
Min Deposit
Official Site
Educational Resources
FBS is a leading forex broker in Ghana, offering a range of leverage options to cater to different trading styles, including major forex pairs.
This high leverage level allows traders to increase market exposure, potentially leading to significant position growth, especially in forex trading.
Furthermore, FBS’s margin requirements are designed to protect both traders and the broker from excessive losses, especially during volatile market conditions.
However, Ghanaians must keep a minimum margin level to keep their positions open, and FBS calculates this level precisely.
Traders should also note that margin requirements change as market conditions fluctuate, reflecting the dynamic nature of leverage and its role in managing risk.
FBS’s real-time leverage adjustment feature safeguards traders facing rapid market movements, preventing them from unintentionally exceeding their risk limits.
Furthermore, FBS’s careful selection of leverage and margin settings reflects its commitment to providing a structured and flexible trading environment, striking a balance between opportunity and prudent risk management.
What leverage options does FBS provide for Ghanaian traders?
FBS offers Ghanaian traders various leverage options, with ratios of up to 1:3000 for popular currency pairs, allowing them to increase their trading positions and potential profits.
How does leverage influence the margin requirements for FBS?
Leverage increases FBS margin needs since higher leverage ratios let traders hold larger positions with less beginning capital but also carry more risk. When managing their trading accounts, Ghanaian traders should consider leverage seriously.
Bonuses and Promotions
As seasoned reviewers, we have comprehensively evaluated the services provided by FBS in Ghana.
Although they do not offer direct trading bonuses, their Introducing Broker (IB) program is an excellent opportunity for local partners.
This program is designed to cater to the needs of the Ghanaian market, enabling partners to earn a generous percentage of the spread on trades made by the individuals they refer.
One interesting aspect is the daily calculation of commissions, allowing partners to withdraw their earnings at their convenience easily.
The program’s design promotes partner engagement and encourages them to actively involve themselves in keeping their referrals engaged. A well-defined system is in place to enhance their ability to earn more.
The “Grade” system is recalculated monthly based on the average commission earned in the previous three months. This guarantees that partners receive recognition and rewards for their unwavering dedication.
We found that this systematic approach encourages partners to grow their network and offers a clear and attainable way to maximize their income within the program.
In a country such as Ghana, where entrepreneurship is flourishing, the FBS IB program appeals to individuals who want to enter the forex market without depending on direct trading bonuses. It offers an appealing option that prioritizes dedication and the skill to cultivate a loyal clientele.
How can I collect a deposit bonus from FBS in Ghana?
FBS doesn’t offer a deposit bonus. However, when FBS offers this type of bonus, Ghanaian traders must first open an account, make a qualified deposit, and adhere to the bonus requirements (trading volume).
What are the rules for taking income from bonuses in Ghana?
According to our research, profits gained from bonuses are subject to different withdrawal restrictions. Therefore, Ghanaians should check the relevant bonus terms on FBS’s website when FBS offers bonuses.
How to Register an Affiliate Account with FBS Step-by-Step
Step 1: Homepage and find the “Partners”
Go to the FBS official website using your preferred internet browser.
Go to the homepage and find the “Partners” section. Click on it.
In the “Partners” section, locate and select “Become a Partner.”
Step 2: “Submit” or “Register” button
You begin the registration process for the affiliate program once the application form loads.
You will be prompted to provide personal information, including your full name, email address, and contact number.
Please provide accurate information in all the required fields before clicking the “Submit” or “Register” button.
After submitting your application, FBS will review it. Once approved, you will receive an email with instructions on accessing and managing your Affiliate Account. The FBS affiliate program provides daily commission payouts and promotional tools to assist you in your referral efforts.
Affiliate Programs
Features
Our comprehensive analysis of the FBS affiliate program showcases an attractive opportunity for traders in Ghana. This program is designed to help individuals leverage their network within the trading community by referring new clients to FBS.
One interesting feature for Ghanaian traders is the attractive commission rate, which can go as high as $15 for every lot traded by the clients they refer. This feature is particularly beneficial in Ghana’s expanding forex market, as the number of traders continues to rise.
In addition, the FBS affiliate program provides daily payments, which allows Ghanaian affiliates to have a consistent income stream as their referrals participate in trading activities. This feature is crucial for maintaining financial stability and effectively managing cash flow.
In addition, the program includes a commission structure that rewards traders for both their direct referrals and the clients introduced by those referrals.
Overall, we found that with the potential for multiple earnings levels, you can increase your income while growing your network of affiliates.
In addition, FBS offers dedicated account managers to support its affiliates in Ghana. These managers are essential in helping affiliates improve their strategies and maximize their earnings.
We believe that FBS’s commitment to providing support highlights its focus on fostering a supportive atmosphere for its affiliates, crucial for their advancement and prosperity in the highly competitive forex trading sector.
How can I join the FBS affiliate program in Ghana?
Ghanaians can join the FBS affiliate program by registering on the FBS website, verifying their details, and navigating to the partner area where they will find all the materials and resources they need to promote FBS in Ghana.
Can I refer other affiliates to FBS in Ghana and earn a commission?
Yes, FBS has a sub-affiliate program that allows you to earn money for promoting other affiliates in Ghana.
Customer Support
| Customer Support | FBS Customer Support |
| ⏰ Operating Hours | 24/7 |
| Yes | |
| 🗣 Support Languages | English, Portuguese, Thai, Malay, Vietnamese, Arabic, Hindi, Chinese, and more |
| 🗯 Live Chat | Yes |
| ☎️ Telephonic Support | Yes |
| ✔️The overall quality of FBS Support | 4/5 |
Does FBS provide local language assistance for Ghanaian traders?
Yes. FBS generally provides support in English, widely spoken in Ghana, allowing for improved communication with local traders.
Does FBS have a dedicated account manager for Ghanaian customers?
Yes. FBS provides individual account managers to Ghanaian clients, especially those in higher account tiers or those who’re part of the Introducing Broker program.
FBS Social Responsibility
From our analysis of FBS’s social impact, it is evident that they prioritize social responsibility in their operations despite not prominently showcasing it on their website. Their collaboration with Education Africa demonstrates their commitment to positively impacting society.
We found that this collaboration is dedicated to enhancing educational standards at Masibambane College, a significant institution in Orange Farm, Johannesburg.
Investing resources in this school directly enhances STEM education, which is crucial for the community’s technological and scientific progress.
Diego Lima, FBS’s Business Development Manager for Africa, has enthusiastically discussed this initiative, emphasizing the company’s commitment to fostering future leaders and innovators.
This effort showcases FBS’s understanding of the significant influence that education empowerment can have on overall societal progress.
Their actions demonstrate a firm conviction in the importance of businesses contributing to the well-being of the communities they serve, fostering sustainable development and empowerment.
If you’re curious about FBS’s community engagement, you can find information about their CSR initiatives by searching “FBS CSR” on any search engine.
Pros & Cons
| ✔️ Pros | ❌ Cons |
| Ghanaians can deposit and withdraw funds in GHS using mobile money solutions from MTN and Vodafone | FBS has limited account base currencies, and GHS is not supported |
| There are no inactivity fees charged on dormant accounts, making it ideal for long-term traders | There are deposit and withdrawal fees charged |
| Ghanaians can expect a transparent and feature-rich trading environment with FBS | FBS is not locally regulated in Ghana |
| FBS offers several risk management tools, including stop-loss orders | FBS only offers one retail account to non-EU traders |
| Ghanaians can use leverage up to 1:3000 when trading forex pairs | FBS’ mobile platform is limited compared to the proprietary apps of other brokers |
| There are powerful trading platforms available across devices with seamless account synchronization | |
| Ghanaians can easily trade using powerful mobile apps from MetaTrader 4, MetaTrader 5, and FBS | |
| Ghanaians can use the demo account for up to 90 days, longer than what other brokers allow |
FBS Security Measures
FBS is a popular forex and CFD broker in Ghana that prioritizes security for its clients despite the absence of local oversight in the country.
This is achieved by being compliant with international rules, keeping clients’ money separate from the company’s funds, and ensuring it is only used for trading.
In addition, FBS is part of a compensation fund that protects traders’ investments, covering up to 90% of claims.
SSL encryption technology safeguards personal and financial details, while two-factor authentication prevents unauthorized access.
FBS also adheres to global standards, privacy policies, and Anti-Money Laundering procedures, demonstrating its commitment to trust and trust in the relationship between clients and brokers. This is particularly important for Ghanaian traders navigating global markets.
How does FBS maintain the security of customer funds?
FBS prioritizes the security of client funds by segregating them from operational funds, adhering to stringent regulatory standards set by reputable bodies like IFSC, CySEC, ASIC, and FSCA.
FBS also offers additional financial protection through compensation schemes and implements advanced SSL encryption technology.
What procedures does FBS put in place to prevent negative balances?
FBS offers negative balance protection to prevent traders from suffering losses beyond their original investment. It ensures that traders’ account balances cannot fall into the negative, even amid turbulent market conditions or severe price movements.
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Conclusion
In our experience, FBS is a popular choice for Ghanaian traders due to its strong global regulatory framework, backed by reputable entities like IFSC, CySEC, ASIC, and FSCA.
Furthermore, with competitive spreads and leverage up to 1:3000, FBS offers cost-effective entry points and significant market access.
However, our findings indicate that FBS lacks specific regulation within Ghana, raising concerns about trust in FBS’s adherence to international standards.
Furthermore, the absence of accounts denominated in local currency (GHS) introduces currency conversion complexities, and withdrawal fees may influence decisions for traders.
However, despite these concerns, we found that FBS’s commitment to security measures, such as fund segregation and compensation fund participation, and extensive educational resources and customer support reinforce its position as a broker attentive to Ghanaian traders’ needs.
In addition, FBS aims to provide a balanced trading platform that combines opportunities with safeguards, delivering a comprehensive trading experience in the global forex and CFD markets.
Our Recommendations on FBS
While we believe that FBS has a well-rounded off for Ghanaians, there are some key areas where improvement is necessary, including the following:
- Working closely with regional banks and payment systems to streamline transactions and reduce costs.
- Providing customer service and educational resources in Akan and other commonly spoken local languages.
- Organizing informative seminars and workshops on trading in both urban and rural areas to enhance financial knowledge and encourage active market engagement.
- Introducing accounts in Ghanaian Cedi (GHS) to streamline the trading process for local traders.
Our Insight
According to my findings, FBS provides a wide range of trading platforms suitable for both novice and experienced traders, allowing them to trade through various asset classes
Frequently Asked Questions
Can I trade on FBS using Ghanaian cedis?
No, FBS only accepts EUR and USD as account-based currencies. However, you can use Vodafone and MTN mobile money to deposit and withdraw Cedis.
How can Ghanaian traders manage risk using FBS?
FBS provides Ghanaian traders with a range of risk management features, including stop-loss orders and negative balance protection, which help to protect against market volatility and prevent traders from losing more than their deposits.
What is FBS’s minimum deposit?
To register a trading account, FBS requires a 66 GHS ($5). While this is ideal for beginners, Ghanaians might need to deposit more to start trading efficiently across markets.
Are there any local FBS reps accessible in Ghana?
No, FBS has no local representation in Ghana. However, the broker does have a global presence in other countries.
What can I trade with FBS?
You can trade several financial markets on stocks, indices, energies, and precious metals, including crypto CFDs, Forex, and CFDs. Unfortunately, FBS does not offer domestic CFDs like stocks or indices from Ghana.
Can I trade Ghanaian assets, like equities and commodities, on FBS?
No, you cannot. FBS does not provide any Ghanaian instruments. However, with FBS, you can gain access to worldwide stock and commodities markets by trading CFDs, which enables you to speculate on price changes without owning the assets.
Is FBS a safe broker?
Yes, FBS is a safe broker multi-regulated by reputable entities. Furthermore, FBS has several security measures to protect Ghanaians and their funds.
Can Ghanaian traders engage in the FBS affiliate program?
Ghanaian traders can easily join FBS’s affiliate program, which provides the opportunity to earn additional income by referring new clients to the FBS platform. FBS offers marketing tools and assistance to help with this process.
How long does FBS’s withdrawal take?
Withdrawals using mobile money solutions can take up to three days, while e-wallets take up to 48 hours. Should Ghanaians use bank wire or credit/debit cards, withdrawals can take several working days.
Where is FBS based?
FBS’s corporate head office is in Belize, but the broker has offices globally. Unfortunately, FBS does not have a local office in Ghana.
Can I use mobile money to finance my FBS account?
Yes, you can use MTN and Vodafone Mobile Money to deposit funds into your FBS account. However, these payment methods incur a 3.5% deposit fee.
FBS User Comments and Reviews