FBK Markets Review

1. What is FBK Markets?
2. FBK Markets Pros and Cons
3. Is FBK Markets Safe or a Scam?
4. Leverage
5. Accounts
6. Instruments
7. Fees
8. Spreads
9. Deposits and Withdrawals
10. Trading Platform
11. Customer Support
12. Education
13. Conclusion

Our Review Method

• 55Brokers Financial Experts with over 10 years of experience in Forex Trading check all trading offerings, regulations and licenses, fees, spreads, platforms, customer service, and placed traders to see trading conditions and give expert opinions about FBK Markets.

What is FBK Markets?

Established in 2020, FBK Markets is a Forex trading company based in South Africa, that provides access to a diverse range of trading products, including Forex, Commodities, Bonds, and Indices.

Based on our research, the firm is an appointed juristic representative of RCG Markets, regulated under the FAIS Act, and holds a license from the respected FSCA authority. FBK Markets provides its services to clients across Africa and global markets.

Overall, the broker is recognized for its reliability, offering competitive trading conditions and a variety of popular trading instruments through the advanced MetaTrader trading platform.

FBK Markets Pros and Cons

Per our findings, the broker presents both pros and cons that are important to consider. On the positive side, FBK Markets provides competitive trading solutions, a low minimum deposit requirement, and access to the widely recognized MT4 trading platform. Being a South African broker, it is particularly appealing for traders in the African region overall. Moreover, FBK Markets provides 24/7 live chat support and valuable educational resources.

For the cons, the broker lacks a top-tier license and operates under a single regulatory body, which could be a drawback for some traders seeking accounts with multiple regulatory authorities. Yet, trading under a South African entity is considered safe enough. Additionally, the broker has a limited range of trading instruments and markets available for traders.

Overall FBK Markets Ranking

According to our analysis, FBK Markets provides a reliable trading environment with competitive fees, making it an attractive option for traders of all levels. The firm offers access to an advanced MT4 trading platform that allows users to trade well-known financial instruments.

• FBK Markets Overall Ranking is 7.3 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry-leading brokers.

FBK Markets Alternative Brokers

After thoroughly evaluating multiple factors such as trading features, regulatory adherence, spreads, available trading instruments, and user opinions, we have conducted an analysis and compiled a list of alternative broker choices to consider instead of FBK Markets.

• RCG Markets – Tight and Competitive Spreads
• CapTrader – Competitive Trading Conditions
• WelTrade – Low Pricing

Is FBK Markets Safe or Scam?

No, FBK Markets is not a scam. Being a duly appointed juristic representative for RCG MARKETS (Pty) Ltd and holding authorization from the FSCA in South Africa implies a notable level of credibility and a commitment to industry standards.

Is FBK Markets Legit?

Yes, FBK Markets is a legit and regulated broker, even though is not regulated by top-tier regulation. Compliance with the regulatory rules set by FSCA, which is a rather good regulatory body in the financial market, enhances the safety and confidence of traders who choose to trade with the broker.

See our conclusion on FBK Markets Reliability:

• Our Ranked FBK Markets Trust Score is 7.5 out of 10 for the good reputation and services provided. However, we recommended conducting your research, reviewing customer feedback, and considering personal factors before deciding to engage with the broker.

Customer Trading Protection

Based on our analysis, FSCA plays an essential role in enforcing regulatory compliance within the financial services industry, especially for Africa Trading. It ensures the security of clients’ funds by requiring the segregation of funds from company accounts. This prevents the use of client funds for operational purposes, adding an extra layer of protection for clients.

However, we suggest conducting thorough research, including reading user reviews and considering other factors, to assess the broker’s reputation and legitimacy. 

FBK Markets Leverage

Using leverage in trading can be beneficial as it allows traders to access the market with a smaller capital investment. However, it carries the potential for significant gains and losses as well. Therefore, have a thorough understanding of how leverage operates and the potential consequences it can bring before engaging in leveraged trading.

FBK Markets leverage is offered according to the FSCA regulation:

• Trades from South Africa are eligible to use low leverage up to 1:30 for major currency pairs.
• However, the website states the potential for higher leverage of up to 1:1000, so understanding the implications and risks associated with leverage is crucial before making decisions about its use in trading.

Account Types

Per our findings, the broker offers Standard, Zero Spread, Bonus 100, ECN, and Micro Account types that might suit the needs of different traders. The initial deposit required for a Micro account is R20 which equals $1,06. For other account types, the minimum deposit amount is R100.

Opening FBK Markets Trading Account

Opening an account with a broker is considered quite an easy process, as you can log in and register with FBK Markets within minutes. Just follow the opening account or sign-in page and proceed with the guided steps:

• Select and Click on the “Open an Account” page
• Enter the required personal data (Name, email, phone number, etc.)
• Verify your personal data by uploading documentation (residential proof, ID, etc.)
• Complete the electronic quiz confirming your trading experience
• Once your account is activated and proven, follow with the money deposit.

Trading Instruments

FBK Markets provides access to popular trading instruments, such as Forex, Commodities, Bonds, Indices, and more. We found that the firm enables traders to diversify their portfolios and participate in various markets according to their individual needs and trading strategies.

• FBK Markets Markets Range Score is 7.3 out of 10 for famous trading product selection. On the other hand, we found that many popular asset classes are not available to trade.

FBK Markets Fees

After examining the broker’s fee offering, we found that FBK Markets offers competitive pricing for most of its trading services. We found that the broker imposes a minimum deposit requirement of R100 for its funding methods, and additional fees may be applicable during trading activities as well.

So, carefully review the broker’s fee structure and terms and conditions to gain a comprehensive understanding of the associated charges and their potential impact on trading operations.

• FBK Markets Fees are ranked average with an overall rating of 7.5 out of 10 based on our testing and compared to over 500 other brokers.

Spreads

Based on our test trade, the broker provides competitive spreads, with an average spread of 0.5 pips for the EUR/USD currency pair in the Forex market. However, spreads can vary based on market conditions, volatility, and liquidity, so consult the broker’s website or contact their customer support for detailed information on the spreads they offer for specific instruments and account types.

• FBK Markets Spreads are ranked low or average with an overall rating of 8.5 out of 10 based on our testing comparison to other brokers. We found Forex spread lower than the industry average and spreads for other instruments are competitive too.

Deposits and Withdrawals

Per our research, the broker offers a few options for traders to instant deposit funds into their trading accounts including Visa and MasterCard, Skrill, and Ozow. However, certain funding methods may have specific requirements based on the client’s bank or other financial institutions involved.

• FBK Markets Funding Methods we ranked good with an overall rating of 7.5 out of 10. Fees are low, and also you can benefit from various account-based currencies.

Here are some good and negative points for FBK Markets funding methods:

FBK Markets Minimum Deposit

To open a live trading account with the broker, clients need to deposit $1,06 as an initial deposit amount for Micro accounts, while for other accounts the minimum deposit is $5,26 which is considered a good offering.

FBK Markets minimum deposit vs other brokers

	FBK Markets	Most Other Brokers
Minimum Deposit	$1,06	$500

FBK Markets Withdrawals

We found that the process of withdrawing funds from your account is both simple and swift. Generally, withdrawals are processed up to 48 working hours.

Withdraw Money from FBK Markets Step by Step:

To initiate a withdrawal fund from your trading account, the brokerage firm provides a set of typical steps that can be followed:

1. Login to your account
2. Select Withdraw Funds’ in the menu tab
3. Enter the withdrawn amount
4. Choose the withdrawal method
5. Complete the electronic request with necessary requirements
6. Confirm withdrawal information and Submit
7. Check the current status of withdrawal through your Dashboard

Trading Platforms

Traders have the advantage of accessing the well-known MetaTrader 4 while trading at FBK Markets. This platform is highly esteemed in the industry for its robust features, user-friendly interfaces, advanced charting tools, and extensive trading capabilities.

Additionally, the broker provides mobile trading platforms compatible with both IOS and Android devices.

• FBK Markets Platform is ranked good with an overall rating of 8 out of 10 compared to over 500 other brokers. We mark it as good since it offers the advanced MT4 trading platform, however, the broker does not have any other alternative.

Trading Tools

We found that FBK Markets platform provides a variety of charting tools, various timeframes, trading signals, technical indicators, and additional features. Additionally, MT4 includes automated trading functionality, allowing traders to detect market movements and refine their strategies for market entry and stop-loss.

Customer Support

The broker offers 24/7 customer support via live chat, email, phone, WhatsApp, and social media channels. Additionally, it has a physical address staffed by trading experts who are available to assist with technical support, analysis recommendations, general inquiries, and operational issues.

• Customer Support in FBK Markets is ranked good with an overall rating of 8.5 out of 10 based on our testing. The support team is responsive during working days and weekends, ensuring efficient assistance.

See our find and ranking on Customer Service Quality:

FBK Markets Education

Finally, while the broker provides learning materials through Videos and Ebooks, it lacks in offering seminars and webinars. For traders seeking more comprehensive educational resources, we suggest exploring other brokers that provide a broader range of learning opportunities.

• FBK Markets Education ranked with an overall rating of 7.5 out of 10 based on our research. We suggest considering alternative brokers that offer a wider range of educational resources, as the broker’s offering is limited and may not be particularly suitable for beginner traders.

FBK Markets Review Conclusion

In conclusion, FBK Markets is a trustworthy Forex trading broker that stands out with competitive pricing, efficient fund withdrawal processes, and accessibility through the popular MT4 platform.

However, potential drawbacks include a limited variety of trading instruments, a sole regulatory authority, and a less extensive educational offering.

Overall, we found that the firm provides a reliable trading environment, however, we advise conducting your research and evaluating whether the broker’s offerings suit your specific trading requirements.

Based on Our findings and Financial Expert Opinions FBK Markets is Good for:

• Traders from the African continent
• Traders who prefer the MT4 trading platform
• Currency trading
• Beginners
• Advanced traders
• International traders
• STP execution
• Competitive pricing
• 24/7 customer support
• EA/Auto trading
• Good trading tools