FBS supplies no data as to who owns or runs the corporate on their web site.
The corporate does disclose a sequence of linked shell firms;
- FBS Inc. within the Marshall Islands
- FBS Markets Inc. in Belize
- HDC Applied sciences Ltd in Cyprus
All three are scam-friendly jurisdictions with little to no regulation of MLM firms.
FBS seems to have robust ties to India, with Alexa attributing 59% of site visitors to FBS’ web site to the nation. Egypt is the second largest supply of site visitors at 4%.
FBS’ web site area (“fbs.com”) was first registered again in 1995. The present registration particulars are set to personal.
Oddly sufficient FBS have excluded their area from the Wayback Machine, making it troublesome to inform when the present house owners took possession of it.
FBS’ area registration was final up to date in July 2018. On their Fb account FBS claims to have launched in 2009. Video uploads to FBS’ official YouTube channel started in 2012.
As at all times, if an MLM firm will not be brazenly upfront about who’s operating or owns it, suppose lengthy and arduous about becoming a member of and/or handing over any cash.
FBS’ Merchandise
FBS presents multi-tier buying and selling accounts;
- Cent – “completely fits those that are simply beginning on their method to success on Foreign exchange”, minimal $1 deposit
- Micro – “ultimate for many who wish to calculate their revenue exactly”, minimal $5 deposit
- Commonplace – “for knowledgeable market gamers making their method to Foreign exchange heights”, minimal $100 deposit
- Zero Unfold – “designed for many who want buying and selling on the quickest pace”, minimal $500 deposit
- ECN – for many who wish to really feel the complete energy of buying and selling with ECN applied sciences, minimal $1000 deposit
FBS supplies to its dealer prospects with entry to the MetaTrader4, MetaTrader5 platforms.
MetaTrader is presumably utilized by FBS underneath license from MetaQuotes Software program.
FBS’ Compensation Plan
FBS refers to its associates as “companions”. FBS companions earn commissions on buying and selling exercise by recruited associates.
Buying and selling commissions are paid down three ranges of recruitment (unilevel):
- degree 1 (personally recruited associates and merchants) – 100%
- degree 2 – 15%
- degree 3 – 5%
The above percentages are paid on traded heaps, which is a unit used to measure what’s being traded (one lot is usually a set foreign money quantity, variety of shares and so forth.).
Becoming a member of FBS
FBS do differentiate associates from prospects – each companion and buying and selling signup choices are supplied.
Word that FBS don’t disclose whether or not there are any affiliate membership prices.
Conclusion
As a purely “do-it-yourself” buying and selling platform, I don’t have an issue with FBS. I didn’t see any point out of automation, which is often the downfall of buying and selling area of interest MLM firms.
The MLM aspect of the enterprise can also be strong being solely paid on buying and selling exercise. Though I’m not precisely certain how 120% commissions in complete might be paid on buying and selling heaps.
Even in the event you think about dealer charges, how is FBS overlaying 120% fee payouts on traded heaps? Until I’m lacking one thing mathematically that is senseless.
And that’s solely the tip of the purple flag iceberg. Dig deeper into FBS and the purple flags actually begin to pile up.
For starters you haven’t any concept who’s operating the present or from the place. In all probability India (or Malaysia), however who is aware of?
Then there’s the shell firms registered in dodgy jurisdictions.
Cyprus, Belize and the Marshal Islands? Yeah, keep away from any MLM firm that includes in any of these three – not to mention all three.
Lastly, there’s this message on FBS’ web site;
The service will not be offered within the following nations: Japan, USA, Canada, UK, Myanmar, Brazil, Malaysia, Israel and the Islamic Republic of Iran.
Excluding these first 4 nations screams “we don’t wish to be regulated!”. And why would a respectable buying and selling firm deliberately exclude itself from the largest buying and selling markets on the planet?
Not withstanding the exclusions themselves look like nothing greater than pseudo-compliance:
For those who use a VPN service, please be sure to are connecting from the nation that’s approved for FBS providers.
And issues actually get sophisticated upon consideration that, regardless of the ban discover above, FBS do really function in Malaysia by means of a separate web site:
No concept what the story is there but it surely’s simply one other dodgy facet to the enterprise. Oh and for these curious, Malaysia is omitted from the “banned nations” discover within the web site footer of FBS’ Malaysian web site.
All of this undermines the offered legitimacy of FBS. There’s too many purple flags, such that even when all the pieces was above-board on the buying and selling aspect of issues, it’s simply an excessive amount of to disregard.
Wish to commerce? Discover a dealer with out the dodgy baggage.