FBK Markets

Regulation and Safety of Funds

Regulation has become an increasingly important factor in the financial sector due to the rise of scam brokers. These regulations require brokers to meet specific standards and create a secure environment for traders.

FBK Markets is fully licensed and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, with FSP No. 52142. This license allows FBK Markets to offer financial services within South Africa while ensuring compliance with local regulations. The FSCA’s regulatory oversight guarantees that FBK Markets operates with the highest levels of transparency and legal accountability, which helps build trust with clients.

Security Protocols and Compliance

FBK Markets follows strict security protocols to ensure the proper handling of all client funds. It keeps client funds in segregated accounts, separating personal trading capital from the broker’s operational funds. This safeguard reduces risks for traders, particularly in case of any financial instability within the broker’s operations.

FBK Markets also complies with the Financial Intelligence Centre Act (FICA) in South Africa, requiring client identity verification to prevent money laundering and ensure only legitimate traders participate. Additionally, it adheres to the Protection of Personal Information Act (POPIA) to safeguard sensitive personal and financial data.

However, traders should be aware that FBK Markets does not offer negative balance protection. In highly volatile market conditions, traders may lose more than their initial deposit and will be responsible for settling any negative balance if the market moves significantly against their positions.

Safety and Security Measures

Segregated Accounts

Client funds are kept separate from the broker’s operational funds, reducing the risk in case of financial issues within the broker’s business.

FICA Compliance

All clients must undergo identity verification, ensuring that FBK Markets complies with anti-money laundering (AML) regulations and prevents fraudulent activity.

POPIA Compliance

Personal and financial data are protected under South Africa’s Protection of Personal Information Act, which safeguards against unauthorized access.

No Negative Balance Protection

FBK Markets doesn’t offer negative balance protection. If there are highly volatile market conditions, clients can lose more than their initial deposit, and owe the broker money.

Prohibited Trading Practices

FBK Markets enforces strict policies against insider trading, market manipulation, and other unethical practices to maintain a fair and transparent environment for all traders.

Bonus Offers and Promotions

FBK Markets offers a 100% deposit bonus for eligible clients when they register a Bonus 100 account. This bonus doubles the trader’s initial deposit, giving them more capital to trade with.

The bonus can provide traders with a unique opportunity to maximize their trading potential by boosting their accounts with trading credit. However, traders should note that the bonus is subject to certain conditions like withdrawal limitations where only profits made can be withdrawn.

The bonus is an attractive option for traders to increase their capital, but it comes with certain guidelines on how it can be used.

Traders should be aware of the conditions attached, including restrictions on trading methods, such as the prohibition of Expert Advisors (EAs) and automated trading while using the bonus.FBK Markets also reserves the right to amend or withdraw the bonus at any time, and any violation of the terms could result in forfeiting the bonus.

If traders can work around these restrictions, and they follow the guidelines on trading strategies and withdrawal limits, the bonus can be extremely advantageous in increasing their market exposure.

Minimum Deposit and Account Types

FBK Markets offers account types ideal for beginners starting their trading journey or seasoned professionals who want more advanced features. These accounts offer flexibility, tight spreads, and high leverage.

Each account type has been crafted with specific target audiences in mind for traders to select the most suitable option according to individual strategies, risk tolerance, and trading goals. The accounts available are as follows:

Standard Account

Best for casual traders who want a balance between low spreads and flexible leverage.

Zero Spread Account

Ideal for traders who prioritize the lowest possible trading costs with zero spreads and are willing to pay a commission fee per lot.

Bonus 100 Account

Suitable for traders to boost their capital with a 100% deposit bonus.

ECN Account

Designed for experienced traders who require direct market access with the tightest spreads and who are comfortable with commission-based pricing.

Micro Account

Perfect for beginners or those with a low budget, offering a small minimum deposit and lower leverage.

Trading Platforms and Tools

FBK Markets only supports MetaTrader 4 (MT4) as its trading platform, ideal for both novice and experienced traders. MT4 has become the industry standard due to its versatility, ease of use, and robust trading tools.

Traders across the globe prefer MT4 for its customizability, which allows for both manual and automated trading. FBK Markets enhances MT4 by integrating its account types (Standard, ECN, Micro), which are tailored to different trading preferences.

This customization lets traders seamlessly switch between account types, depending on their trading needs and strategies, whether they want tight spreads, flexible leverage, or a series of tools.

Key features on FBK Markets’ version of MT4 include a Margin Calculator to help traders manage risk effectively, a Mobile App for trading on the go, and enhanced market analytics, but no support for Expert Advisors (EAs), as FBK Markets prohibits their use.

MT4 also offers comprehensive charting tools and technical analysis capabilities, which are vital for traders to refine their strategies based on market data and trends.

Tradable Markets and Instruments

FBK Markets provides a well-rounded selection of financial instruments for traders to diversify their portfolios across multiple asset classes.

Despite only offering a total of 22 instruments, FBK Markets focuses on the most actively traded markets. Thus, clients can access the core instruments used by global traders. Traders can trade instruments across Forex, Commodities, Indices, and Cryptocurrencies.

Traders can engage with some of the most liquid and widely traded assets, such as the EUR/USD currency pair for Forex, Gold for Commodities, the S&P 500 for Indices, and Bitcoin  for Cryptocurrencies. These instruments provide ample opportunities for traders to explore both traditional and emerging markets.

Traders can tap into highly liquid markets with ample volatility, providing opportunities for short- and long-term trading strategies. FBK Markets supports trading on major instruments using leverage of up to 1:1000, letting traders amplify their positions across different market conditions.

Trading and Non-Trading Fees

FBK Markets maintains a transparent and straightforward fee structure. Thus, traders know exactly what to expect when executing trades or managing their accounts.

Each account type and level has unique starting spreads, commission fees, and other associated costs. These fees are communicated to clients before they enter trades to help them make informed decisions.

In this section, we break down the exact costs for each account type and discuss additional fees that traders could encounter.

FBK Markets’ starting spreads are competitive compared to other brokers, starting from 0.5 pips on the Standard account, and the Zero Spread account offers zero spread with a commission per standard lot.

The ECN account charges tighter spreads and lower commissions, perfect for professional traders. FBK Markets also charges fees like overnight swap rates, inactivity fees, and currency conversion fees, which should be considered when trading.

Fee Comparison

FBK Markets offers a variety of account types with different fee structures to suit various trading needs. The Standard Account features spreads from 0.5 pips with no commissions, and swap rates that vary depending on market conditions. Inactivity fees are not explicitly mentioned in the client agreement, though they may apply to dormant accounts.

Currency conversion fees could also apply. The Zero Spread Account charges zero pips but comes with a $9 commission per standard lot, ideal for traders who prefer low spreads. The ECN Account provides tight spreads and a $4 commission per standard lot, offering direct market access with minimal slippage, suited for professional traders.

The Micro Account also has spreads from 0.5 pips with no commission, making it a low-cost option for beginners.

Deposit and Withdrawals

FBK Markets provides flexible deposit methods, giving traders convenient and secure options to fund their accounts. These options include OZOW (Smart EFT), Skrill (Digital Wallet), and Visa/Mastercard.

The deposit process is quick and efficient, with all transactions processed instantly, allowing traders to begin trading without delays.

However, FBK Markets verifies all deposits and withdrawals for compliance with financial regulations, ensuring the security of both the trader and the broker. The company prioritizes security to maintain a trustworthy relationship with clients.

FBK Markets also streamlines the withdrawal process, processing withdrawals via Electronic Funds Transfer (EFT). While the broker aims to complete withdrawals within 48 working hours, traders should note that processing times may extend due to unforeseen delays.

Withdrawals do not process on weekends, so clients should plan accordingly when managing their funds.

The account holder consistency rule is a key requirement for both deposits and withdrawals, ensuring that transactions are made from the account holder’s bank account. This verification step helps prevent fraud and ensures secure fund transfers between the client and the broker.

Education and Research

FBK Markets has limited educational resources to help traders get started and enhance their trading skills. The resources available are not available on the website. Instead, they are integrated directly into MetaTrader 4 (MT4), offering ideal tools for self-guided learning.

Traders can access video tutorials and market analysis to support their trading strategies. While these resources are helpful, they are primarily for beginners to strengthen their basic trading knowledge.

Customer Support

Providing accessible and efficient customer support is a vital factor for any trading platform and financial broker. FBK Markets understands this need and offers 24/7 customer service for traders to reach out for assistance whenever necessary.

Whether clients are based locally or internationally, FBK Markets provides flexible communication channels, including email, phone, and WhatsApp. Thus, traders can always get the help they need, even over weekends and on public holidays.

In our experience, these support options make it easier for traders to resolve issues quickly, allowing them to focus on their trading activities without unnecessary delays.