Exploring the Trustworthiness of FBS: Regulatory Compliance and Reputation

What factors should we consider when evaluating a broker and how reliable and trustworthy it is? Usually, these are licenses, compliance with regulations and legislation, years on the market, and reputation among traders and other industry professionals.

Let’s look at an FBS broker and see if it is reliable and if you can trust it with your money.

Reliability is crucial in choosing your broker

As a trader, you need to know where it is safe to trade, what platforms to use, and which brokers are reliable. If any one of these factors is not paid enough attention to, you may lose your money.

Besides, while money is important, you should always consider your time and efforts as well since you will need to work a lot to achieve your goals in trading. So, it is worth doing your research and selecting all the tools thoroughly to avoid costly mistakes in the future.

As a result, many traders say that reliability is the most critical factor when deciding on a broker. Of course, there are various factors that are nice to have in a broker, such as no commission for deposits, convenient and fast withdrawal, support in your native language, or availability of mobile applications for trading. However, reliability is what matters to everyone: no one wants to lose money because of scammers.

Regulation compliance matters

FBS claims to be a trusted global broker: 23 million traders and 410 thousand partners in 150+ countries have chosen to work with FBS as their broker. Global brokers typically operate using an international license, and sometimes they decide to obtain a license with a local regulatory authority in countries where an international license is not considered sufficient.

We know that the international operations of FBS are regulated by Financial Services Commission (FSC). This license proves that FBS operations and processes were reviewed by FSC and found compliant with all the regulations and best practices applicable to the international financial markets. In most cases, it will mean that local laws are observed as well.

Is FBS legal in Indonesia?

Let’s take Indonesia as an example. FBS does not have a local license in Indonesia but still complies with all the local regulations, especially since they are all more or less similar to international legislation for financial markets.

A broker must demonstrate that they comply with anti-money laundering legislation, confirm the client’s identity, and handle personal information appropriately. Besides, local partners add their own limitations. For example, the Bank of Indonesia has very strict requirements for brokers, and they need to comply for their traders to be able to deposit and withdraw money via this popular local bank.

Besides, Indonesia is a mostly Muslim country, so there’s an extra layer of requirements. Forex trading is legal in the country, but some trading conditions may not be compatible with the Islamic rules of trading. So, FBS Broker Indonesia offers dedicated Islamic accounts that are compatible with local regulations and traditions.

Do traders trust FBS?

But regulatory compliance is not the only thing to pay attention to when evaluating a broker’s safety and reliability. We must also look at its reputation among traders and the industry.

FBS has millions of traders globally, along with its brand ambassadors. It means that many people have already tried trading online with FBS and were happy with the results. Almost half a million of them have chosen to participate in the FBS Introducing Broker program and are willing to bring new people to FBS. Such new people can sign up and choose a cent account to enjoy lower risks while they grow their trading skills — this extra confidence adds to the overall impression of safety.

These traders are willing to participate in various online and offline events, to join in discussions, particularly in the FBS Telegram channel. For example, FBS Indonesia has a strong community of local traders who follow the broker on social networks, participate in discussions in Indonesian, attend local events, and share information with other local people.

It proves that traders are happy with their cooperation with FBS, know how the company handles their personal data and their money, and that trading conditions are attractive and work well for them.

In addition to traders, there are other people in the industry, such as payment providers, organizers of trade events, influencers, and journalists — and they are all involved in building the company’s reputation. And this reputation can be measured to a certain extent: FBS offers 200+ payment options and has almost 80 international awards. It all means that industry professionals trust FBS to be a reliable partner.

This trust from millions of people proves that in the years on the market (FBS brokers were founded in 2009), the company has built a strong reputation as a trusted global broker. And FBS enjoys this reputation for a reason: it is a regulated broker that complies with various international and local regulations, pays a lot of attention to safety and security, and ensures people choose them as a broker and stay with them.