FBK Markets Review

Read our in-depth forex broker review on FBK Markets ✅ Find out how this brokers broker compares to others.
Overall Rating

3.5/5

Top 5 Forex Brokers
1.
Avatrade
2.
Exness
3.
OctaFX
4.
Tickmill

FBK Markets Review

📅 Year founded

2020

📈 Multiple top-tier regulation

No

📍 Headquarters

Johannesburg, South Africa

🌍 Country of regulation

South Africa

✅ Regulators

FSCA

📈 Execution Type

Market Execution

💰 Minimum Deposit

R100

🛡️ Negative Balance Protection

Yes

📉 Trading Platforms

MetaTrader4

 ☪  Islamic account

No

📉 Trading Instruments

Forex / Indices / Commodities / Bonds

📱 Mobile trading

iOS / Android / Windows

💳 Payment Types Accepted

Debit and Credit Card / Bank Wire Transfer / OZOW / Skrill

🎮 Demo Account

Yes

 ⓒ Copy Trading

No

🎁 Bonus Offer

100% Deposit Bonus

💰 Account Currencies

USD / GBP / ZAR

📈 Minimum Trade

0.01 Lots

📈 Account Types

ECN / STP

📈 Margin Trading

Yes

📈 Trading fees

Low

📈 Inactivity fee

$50 USD after 12 months of inactivity

💰 Withdrawal fee

Yes, amount unknown

☎ Customer Support

24/7

💰 Max. Leverage

1 000:1

✔️ Hedging Allowed

Yes

✔️ Scalping Allowed

No

💰 Commission

Zero on Standard, Bonus 100 and Micro / $9 USD on Zero Spread / $4 USD on ECN

💰 Spreads

From 0.0 pips

💰 Leverage

Flexible

💰 Currency Pairs (Total Forex pairs)

Unknown

🔢 Number of clients

40 000 +

🥇 Instruments Offered

Unknown

📙 Education

eBooks / Videos

Click here ✅ Open a Trading Account

 

WHAT IS FBK MARKETS?

FBK Markets is a forex and CFD broker that has established itself as a notable player in the financial trading industry.

Regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, FBK Markets adheres to strict regulatory standards, ensuring a secure and transparent trading environment for its clients.

FBK Markets focuses heavily on technology and innovation, providing traders with sophisticated trading tools and platforms. These platforms are designed to offer traders a seamless and efficient trading experience, complete with real-time data, advanced charting capabilities and one-click trading features.

FBK Markets is committed to trader education and empowerment, offering a comprehensive suite of educational materials including eBooks and video courses aimed at helping traders make informed decisions and improve their trading skills.

The broker stands out in the competitive forex brokerage landscape by combining regulatory rigor, a wide range of trading products, advanced technological infrastructure and a strong emphasis on trader education. This makes it a preferred choice for both novice and experienced traders looking for a reliable and supportive trading partner.

 

INTRODUCTION

FBK Markets is a dynamic forex broker that was founded in 2020 and is based in Johannesburg, South Africa.

As a relatively new entrant into the world of financial trading, FBK Markets has quickly established itself as a progressive and reliable brokerage firm, catering to a diverse clientele worldwide.

FBK Markets offers a broad spectrum of trading instruments including forex pairs, indices, commodities and bonds. This extensive range allows traders to diversify their portfolios and take advantage of multiple markets and asset classes through one trading account.

Being based in Johannesburg not only positions FBK Markets at the heart of South Africa’s economic hub, but also underscores its commitment to tapping into the vibrant financial markets of Africa and beyond.

The strategic location supports the broker’s mission to bridge the gap between local and international markets, offering its clients a unique perspective and access to global financial opportunities.

Since its inception, FBK Markets has focused on leveraging technology to enhance their clients’ trading experience. The broker’s investment in state-of-the-art trading platforms and innovative trading tools reflects its commitment to delivering superior performance and functionality.

 

PROS & CONS

PROS

  • Comprehensive educational resources.
  • Advanced trading platform in the form of MetaTrader4 (MT4).
  • Wide range of trading instruments.
  • Low minimum deposit of only R100 required (roughly $5 USD at the time of writing).
  • Broad range of trading accounts available.

CONS

  • The broker does not allow copy trading.
  • No Islamic account option available.
  • Unspecified withdrawal fee.

 

TRADING INSTRUMENTS

FBK Markets provides its clients with an expansive range of trading instruments, offering a diverse portfolio of options to cater to various trading preferences and strategies.

This variety is crucial for traders who seek to manage risks through diversification or who wish to capitalise on different market dynamics.

 

Forex

FBK Markets excels in its forex offerings, providing traders with the opportunity to trade a wide variety of currency pairs. These include major pairs like EUR / USD, USD / JPY and GBP/USD, which are known for their liquidity and tight spreads.

Additionally, the broker offers a range of minor and exotic pairs, appealing to traders looking for higher volatility and the potential for significant price movements. This broad selection enables traders to engage in strategies that target stable economies or venture into more emerging markets.

 

Indices

For those interested in broader market trends rather than individual stock performances, FBK Markets offers trading in a selection of major global indices. These include the likes of the S&P 500, Dow Jones Industrial Average and NASDAQ amongst others.

Indices trading allows traders to speculate on the economic outlook of an entire sector or economy without the need to manage exposures to individual stocks.

 

Commodities

The commodities market is another crucial component of FBK Markets’ trading instruments. Traders can engage with a variety of commodities such as gold, oil, natural gas and corn.

While the number of commodities available with FBK Markets is not specified on their website, the broker does offer a mix of precious metals and soft commodities such as corn, indicating that there is a wide range of commodities available.

 

Bonds

Finally, FBK Markets offers trading in various government bonds. Bonds are particularly appealing for risk-averse investors due to their generally lower volatility compared to stocks.

Considering that many brokers do not offer bonds as an instrument, FBK Markets’ offering of at least 5 bonds sets it apart from its competitors.

By covering these key asset classes, FBK Markets ensures that its clients can access a comprehensive range of financial instruments from a single platform. This ability to trade across different markets not only enhances the trading experience but also empowers traders to exploit a myriad of economic conditions and market cycles effectively.

 

TRADING PLATFORMS

FBK Markets provides its clients with access to one of the most renowned and widely used trading platforms in the forex and CFD industry, MetaTrader4 (MT4).

The choice of MT4 underscores FBK Markets’ commitment to providing reliable, powerful and user-friendly trading tools that cater to both novice and experienced traders.

 

MetaTrader4 (MT4)

MT4 is celebrated for its robust functionality, which encompasses everything a trader needs to analyse financial markets, execute trades and employ automated trading strategies.

MT4 offers comprehensive charting tools that allow traders to view and analyse market trends with great precision. Users can access multiple time frames and chart types and can apply over 30 built-in technical indicators and analytical objects, making it easier to identify patterns and signals for effective trading decisions.

Despite its advanced features, MT4 is designed with a user-friendly interface that is easy to navigate even for beginners. This makes it an ideal platform for new traders who are still getting acquainted with the complexities of forex trading.

MT4 is also highly customisable, allowing traders to tailor the platform to their trading needs and preferences. This includes the ability to customise chart setups, create templates and import custom indicators.

Security is a paramount concern in online trading and MT4 addresses this with industry-standard encryption protocols to secure trade transactions and data exchanges between servers and clients.

The only drawback with using MT4 in combination with FBK Markets is that the broker does not allow copy trading, meaning their clients are unable to utilise the wide range of Expert Advisors (EAs) provided by MT4.

FBK Markets’ integration of MT4 allows its clients to leverage a tried and tested platform that combines efficiency, extensive functionality and ease of use. This choice not only enhances the trading experience but also supports the broker’s mission to provide its clients with a robust and secure environment for trading global financial markets.

 

ACCOUNT TYPES

FBK Markets caters to a diverse clientele by offering a variety of account types, each designed to meet different trading needs and strategies. This flexible approach ensures that both novice traders and experienced professionals can find an account that fits their trading style and financial goals.

 

Standard Account

The Standard Account is ideal for novice traders or those who prefer simplicity in their trading operations. This account type features no commission charges while spreads start from as low as 0.5 pips.

The account features negative balance protection while the minimum deposit required is only R100.

 

Zero Spread Account

The Zero Spread Account is suited for traders who prefer trading with high precision and speed. This account type offers spreads from 0.0 pips, compensated by a fixed commission per trade.

This account is perfect for traders who require precise entries, with commission being charged at $9 USD per lot and a minimum deposit of only R100 being required.

 

Bonus 100 Account

The Bonus 100 Account is similar to the Standard Account as it has spreads starting from 0.5 pips and no commissions being charged on this account type. What differentiates this account is the deposit bonus on offer.

The Bonus 100 Account offers traders a 100% deposit bonus when traders deposit funds for the first time, subject to certain terms and conditions available on the broker’s website.

 

ECN Account

The ECN Account provides direct access to other participants in forex markets through electronic communications networks (ECNs). This account is best for experienced traders who demand tighter spreads and faster execution speeds, with pricing directly from liquidity providers.

Commissions are charged on trades, starting from $4 USD per lot, while spreads are variable but tight.

 

Micro Account

The Micro Account is tailored for traders who want to trade with a smaller minimum deposit of only R20. While the features on this account are similar to those of the Standard and Bonus 100 accounts, the smaller minimum deposit allows traders the opportunity to trade with less risk involved.

FBK Markets provides detailed descriptions and transparent conditions for each account type on their website, enabling traders to make informed decisions based on their specific trading needs and investment goals.

By offering such a varied range of account types, FBK Markets ensures that it can accommodate all types of traders, from those taking their first steps in the forex market to seasoned professionals looking for sophisticated trading conditions.

 

HOW TO OPEN AN ACCOUNT

Opening an account with FBK Markets is straightforward and can easily be done on the broker’s website. Potential traders are required to register on the broker’s website, before providing the standard KYC documents required by brokers.

Once these documents have been verified, traders are able to select their account type, deposit funds and begin trading.

 

DEMO ACCOUNT

While the broker does not provide information regarding their demo account offerings, they do provide a demo account where traders can experience the broker’s trading conditions.

It is unknown if the demo account can be tailored to simulate one of the trading accounts offered by the broker, but it certainly does aim to simulate live market conditions as is standard in the industry.

 

SOCIAL TRADING AND COPY TRADING

Unfortunately, this is one aspect of the broker’s service that is lacking as the broker clearly states that no Expert Advisors (EAs) are allowed to be used on any of their account types.

As the broker also does not offer its own proprietary copy trading or social trading features, it is assumed that copy trading is not allowed to be utilised on client accounts with FBK Markets. 

 

COMMISSIONS AND FEES

The broker charges variable spreads and commissions depending on the account type and trading instruments, which can easily be reviewed on the broker’s fee structure, available on their website.

While the Standard, Bonus 100 and Micro accounts do not charge any form of commission, the Zero Spread and ECN accounts attract commission charges of $9 USD per lot and $4 USD per lot respectively.

While no fees are applied on deposits, withdrawals may be subject to fees while inactivity fees are charged on accounts that remain inactive for 12 consecutive months.

 

LEVERAGE

Leverage options vary by instrument and the amount traded. FBK Markets makes a detailed table available on its website, ensuring their clients can clearly see the leverage options available to them.

Leverage on all account types are similar with leverage being available as follows (dependant on account sizes):

  • $0 – $1 000 = 1 000:1.
  • $1 001 – $2 000 = 500:1.
  • $2 001 – $5 000 = 300:1.
  • $5 001 – $10 000 = 200:1.
  • $10 001 – $unlimited = 100:1.

 

WITHDRAWALS AND DEPOSITS

FBK Markets offers multiple methods for deposits and withdrawals including bank transfers, debit and credit cards, OZOW and Skrill. While the broker does not charge fees on deposits, there are fees applicable on withdrawals, which is unfortunately not specified by the broker.

While withdrawal fees may be applicable, the broker will notify clients of the fee beforehand and also offers instant withdrawals, which is likely where the highest withdrawal fees will be charged.

 

CUSTOMER SERVICE

Customer service is available 24/7 and can be accessed via WhatsApp, a contact box, email and phone, providing support in multiple languages.

The broker has received numerous positive reviews regarding their customer service team, indicating that FBK Markets is committed to providing their clients with excellent service.

Additionally, the provision of customer service 24/7 is a great benefit to the broker’s clients and sets the broker apart from its competitors.

 

SAFETY AND SECURITY

Safety and security are paramount concerns for anyone engaging in financial trading. FBK Markets recognises the importance of these aspects and has taken substantial measures to ensure a secure trading environment for its clients.

A critical element of their approach involves compliance with regulatory standards, overseen by a reputable financial authority.

 

Regulation by the Financial Sector Conduct Authority (FSCA)

FBK Markets is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa. The FSCA is known for its strict regulatory standards and is tasked with ensuring that all financial institutions under its jurisdiction adhere to the legal frameworks designed to protect market integrity and customer interests.

FBK Markets is required to maintain transparent financial practices, including regular audits and reporting. This ensures that the company is financially sound and operates in a manner that aligns with legal and ethical standards.

One of the FSCA’s mandates is to ensure that client funds are kept in segregated bank accounts. This separation of client funds from the broker’s operating funds is crucial as it protects clients’ balances in the event of the broker facing financial difficulties.

Additionally, the FSCA ensures that FBK Markets adheres to fair trading practices. This includes providing accurate market pricing and ensuring that there are no manipulations of trading conditions to the disadvantage of the trader.

In addition to regulatory oversight, FBK Markets employs various other security measures to safeguard its clients’ data and transactions including data encryption, two-factor authentication and various risk management tools such as negative balance protection for their clients’ trading accounts.

By adhering to the regulatory standards set by the FSCA and implementing robust internal security protocols, FBK Markets ensures that its trading environment is not only secure but also conducive to fair and transparent trading activities. These measures collectively foster trust among clients, making FBK Markets a reliable choice for traders looking for a secure platform to engage with the financial markets.

 

PROMOTIONS

FBK Markets currently offers clients access to the Bonus 100 Account, which provides clients with a 100% deposit bonus, subject to certain terms and conditions available on the broker’s website.

Additionally, the broker also offers an Introducing broker programme, where individuals can sign up and earn commission based of referrals to the broker.

 

RESEARCH

The broker provides limited research tools to its clients, with only a margin calculator being available apart from the research tools available on MT4. With the addition of MT4, traders are able to access the wide range of research tools available on the platform, to aid them in making informed trading decisions.

 

EDUCATION

FBK Markets provides an in-depth set of educational tools that can be used by its clients to learn the basics of forex trading. These tools include extensive eBooks and video tutorials, ensuring the broker’s clients have access to all the tools they require to become successful traders.

 

GLOBAL AWARDS

While the broker does not seem to have won any global awards, according to its website, it may be possible that these have not yet been listed. Regardless of this, FBK Markets has received numerous positive reviews from its customers, indicating that the broker is held in high esteem by their current client base.

As the broker is new to the industry (being founded in 2020), the lack of awards is understandable but the positive feedback received from its clients indicates that awards for the broker are only a matter of time.

 

SAFE OR SCAM?

When assessing whether FBK Markets is a safe broker, several factors are crucial to consider, most notably its regulatory status and compliance with industry standards.

FBK Markets is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, which is a reputable regulatory body responsible for overseeing the financial operations and ensuring the protection of investor interests within the region.

The fact that FBK Markets is under the regulatory purview of the FSCA provides a significant layer of security. The FSCA enforces strict operational standards, including capital adequacy requirements, submission of regular audits and ensuring that client funds are held in segregated accounts.

Another aspect to consider is feedback from existing users and the broker’s reputation within the industry. The positive reviews and testimonials the broker has received from active users are a good indicator of its reliability.

While no trading environment is entirely risk-free, the regulatory oversight by the FSCA, along with positive client feedback and transparent business practices, suggest that FBK Markets is a safe and legitimate broker. Traders should always conduct their own thorough research and consider all aspects before opening an account with any broker.

 

CONCLUSION

FBK Markets appears to be a comprehensive broker with a focus on trader education and a wide range of trading instruments. Potential clients should carefully consider their specific trading needs and any regulatory protections offered before opening an account.

While there are areas where the broker can improve, such as offering better research tools and copy trading services, the positives which include a low minimum deposit, low spreads and a variety of account types, certainly outweigh the cons.

After conducting the above review into FBK Markets, the team at Brokersuggest.com can comfortably recommend this broker to traders who are new to the market. The broker’s financial accessibility is a great starting point for new traders and the future for FBK Markets is certainly bright.

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