Desk file · 2026 edition · record confidence: medium
FBS
We opened the file on FBS the way we open every file: register first, marketing never. Trading since 2009, run out of Belize City, Belize, and carrying 2 licence entries on the public record, 0 of them tier-1. Opened under the CySEC entity.
What the two desk scores say
Both are out of 10 and both are computed, not felt.
| Cost score | Priced off the spread basis below, not off a headline rate card. | 7.6 |
|---|---|---|
| Safety score | Weighted on licence tier and on how many of the entries we could re-read at source. | 5.0 |
| Cost per 10 lots | Ten round-turn EUR/USD lots priced at the spread basis, commission excluded. | $70.00 |
Spread basis. sampled EUR/USD average on the tightest retail account. Nothing on this page is a live quote; a spread printed on a Tuesday afternoon is not the spread you get thirty seconds after a non-farm payroll release.
Licence entries, one row per entity
Every row links to the document we read it from.
| Regulator | Licence no. | Jurisdiction | Tier | Licensed entity | Source |
|---|---|---|---|---|---|
| CySEC | 331/17 | Cyprus | T2 | Tradestone Ltd | fbs.eu |
| FSC Belize | 4077102 | Belize | T3 | FBS Markets Inc. | fbs.com |
Which entity actually holds your money is decided at signup, by the country on your application — not by the strongest licence in this table. Read the client agreement you are handed, then match the entity name against the row above.
What we were able to confirm
Confirmed at source
- EEA clients are onboarded through Tradestone Ltd (CySEC 331/17); most other clients trade with FBS Markets Inc. in Belize.
- FBS.eu discloses that 66.43% of retail investor accounts lose money trading CFDs with the CySEC entity.
- FBS Markets Inc. is registered with the Belize FSC under the Securities Industry Act 2021, licence number 4077102.
- The advertised minimum deposit on the Standard account is $5.
Not verified
The following could not be traced to a primary source at the time of filing. We publish the gap rather than a number that would look tidier:
- whether an ASIC-regulated FBS entity is currently active
- negative balance protection outside the CySEC entity
- typical EUR/USD spread on the Pro account
| Founded | 2009 |
| Head office | Belize City, Belize |
| Minimum deposit | $5 |
| Leverage cap | up to 1:3000 (Belize entity); 1:30 retail under CySEC |
| EUR/USD | 0.70 pips |
| Tier-1 entries | 0 |
| Record confidence | medium |
Platforms and account types on file
Platforms
Account types
Markets
Other records open on the desk
CFDs are complex instruments with a high risk of losing money rapidly due to leverage. A desk file is a record of what the public register said on the day we read it, not a recommendation to open an account.