What is the FBS and how it works?
Can you make money with this platform?
We know that there are many trading platforms the promises you to make money, but many of them are just scams and Ponzi schemes
How about the FBS?
Is FBS a Scam?
In this FBS review, we are going to cover what is the price to join, what is the compensation plan, what kind of products they have, and whether people making money.
Let’s get right into that.
Please note, I am not a member or an affiliate of FBS. This review is based on research and information available online in the public domain.
Any recommendations and conclusions are only opinions and may not apply to all persons or situations.
Website: www.fbs.com (Or FBS.eu for EU market)
Price to Join: $1 to $1,000
Recommended: Not Really. Still, it is an MLM company.
I recommend Affiliate Marketing. Check the Pros and Cons of both business models (Affiliate Marketing vs. MLM).
What is FBS?
FBS is an investment company that helps you to generate profit by marketing their services and products. The company was founded in 2009.
Cyprus is a well-known country due to the fact that a lot of scammy companies have their headquarters there. Now does it mean right away, that FBS is a scam?
No, at least not at this point.
FBS is basically a forex trading company offering services. They also offer education products for forex trades.
The company claims to have more than 15 million active traders in more than 190 countries.
Based on the number of monthly visits the site FBS.com gets, it is probably about right.
(the site FBS gets more than 2M visits per month).
We are going to find out that people from certain countries (like the US or UK) can’t register with the FBS.
This to me is a red flag.
A person who is allowed to register (the list of countries below) can earn money once opens one of the accounts (we will get there in more details in a bit).
There are 2 ways how o make money:
- The first way is to through investing and trading
- The second way is to promote FBS and make commissions
I am sure you know that FBS works as a multi-level marketing company.
You will be paid according to the number of people below you. In fancier words, when you build your team.
Of course, this recruiting part is optional but make no mistake.
The only real money is in recruiting.
So let’s dig a bit deeper.
Who Runs the FBS?
It is not clear who the owner is.
I find this as a red flag since most legitimate companies reveal who the CEO or founder is.
Unfortunately, it is not the case with the FBS.
What I also find disturbing is a fact that this company reveals a number of shell companies operating from:
- FBS Inc. in the Marshall Islands
- HDC Technologies Ltd in Cyprus
- FBS Markets Inc. in Belize
Nevertheless, they have their own Youtube channel and the person that walks you through webinars is Elizabeth Belugine.
According to her FB profile, she is from St. Petersburg, Russia.
Most likely she is not the founder and only works for FBS.
For example here is a video where she explains, what are the advantages of the Forex market?
There are also a lot of videos including webinars that have about 1 hour (or more).
I am sure there is a lot to learn.
Who is it for?
FBS seems like a good platform for both beginners and advanced traders.
As mentioned above, there are certain countries where their service is not available.
Let’s take a look at the countries that are banned from using their services
Could it be that these countries have strict regulations against scammy companies?
Here is the list of countries where FBS accepts traders from:
Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and most other countries.
Is FBS a Pyramid Scheme?
It is important to distinguish between regular MLM and a pyramid scheme.
The fact is that every MLM company has routes in a pyramid scheme.
To make it legitimate, a company must offer retail products.
The distributor or IBO’s (Independent Business Owner) should be able to earn solely from selling these products – whether it is a tangible product (like in the Mary Kay or Amway case) or it could be a course or service.
By now we know that FBS offers services, so it can’t be called a pyramid scheme.
But if you want to know how to post a pyramid scheme here is a short video:
How to Register with FBS?
You can open an account assuming you are not from the banned country.
Just enter your email and then you will have your account information assigned.
Before you can make a deposit, you are required to fill out the survey.
It concerns your personal data like
- Date of birth
- Your address
- Phone number
and other questions that I personally find annoying.
- Are you a politically exposed person
- How many times did you trade over the past year?
- What is your employment status and your “sphere”
- What is your source of income and your net annual income?
Then based on the results you get the retail status with a recommended deposit you can trade.
After that just select the way how you want to make the deposit.
What Products (Accounts) Does FBS offer?
These are not exactly products, but rather accounts you can open.
Here is a breakdown:
- Standart – this is for experienced market players. The initial deposit is $100.
- Cent – this is for beginners, people who are just starting to learn about Forex and that is why the initial deposit is $1 only.
- Micro – fits the best for those who like math and can calculate their profit. The minimum deposit is $5
- Zero Spread – this is for those who like trading fast. The minimum deposit – $500.
- ECN – and finally, this account is the best for those who are confident and want to trade with the ECN technologies. The minimum deposit is $1,000.
So depending on your experience you can start with $1 or $1,000.
You have both (MT4 and MT5 )MetaTrader platforms available also as mobile apps.
These apps allow trading on financial markets via Android and iOS.
You can also monitor your account status, buy and sell financial instruments, or track the history of trades.
Most MLM companies have a pretty tricky compensation plan. In many cases, you have to through 20 to 40 pages, and it is still not clear what the deal is.
FBS offers a pretty simple compensation plan.
They use a 3 level system (uni-level) that looks like this:
The trading commission is paid down to 3 levels:
- Level 1 – you get 100% on the trading activity of your affiliate (or trader)
- Level 2 – 15%
- Level 3 – 5%
Is FBS a Scam?
FBS is not an outright scam.
People who are just getting started, earn money
But the problem seems to be with support and communication when it comes to withdrawal.
Also due to the MLM structure, I am afraid that most people will not make enough to pay the bills.
Don’t get me wrong. There is certainly a great opportunity to make money with forex.
But I would be careful joining shady companies with unclear ownership and yet operating from a scammy-friendly country.
My advice – if you want to learn how to make money with forex, do more research and find a legitimate company with a history that does not ban certain countries.
Please note, that whenever there is an MLM structure involved, it always works as the following:
Before We Wrap Up…
A long time ago I was involved with one MLM company, and it did not work out.
I went through a lot of jobs and eventually I have learned something about online marketing.
Long story short, now I know how to create a website that drives free traffic, and most importantly, this website earns me 4 figures.
There are plenty of ways on how to make money; I personally think that being in online marketing is the best way to go.
To be more specific I earn money with affiliate marketing.
At the bottom of the post, there is a link that directs to my #1 recommended platform.
It concerns one specific educational platform that teaches how to create a website that generates income.
I am sure you know that it takes special knowledge to succeed online. And this is a perfect platform that teaches everything, step by step from the basic stuff to advanced one.
What I like about FBS
- The compensation plan is simple and easy to comprehend
- Long established company (based in 2009)
- MT4 and MT5 integration
What I don’t like about FBS
- Not available in big trading markets
- No information about who runs the company (who is the founder or CEO?)
- They have linked shell companies operating out of Belize and the Marshall Islands
It does not seem that this is a scam.
Unlike many other forex trading systems, FBS wants their clients to know, that forex trading is very risky and you should use money that you can lose.
However, there is still a number of major red flags that are disturbing.
I personally don’t recommend it.
Remember that, when it comes to investment, keep in mind the following rule:
- Don’t invest more than you can afford to lose
I would be glad if you can share your personal opinion about FBS. Please use the comment section below, I am sure your opinion will appreciate it by other readers.
Also, in case you have questions don’t hesitate to ask.
I will do my best to provide you with feedback within 24 hours.
thank you for reading,