Select a different country or region to view content tailored to your location.
FxScouts helps traders across the globe by meticulously testing and reviewing online brokers and providing Forex education and market analysis. Our partners compensate us through paid advertising. While partners may pay to provide offers or be featured, they cannot pay to alter our recommendations, advice, ratings, or any other content. Our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. For more detailed information click this link.
In the fast-paced world of forex trading, choosing the right broker is crucial. FP Markets and FBS are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.
The radar chart above illustrates the comparison between FP Markets and FBS across several key metrics, with the highest possible score being 100 in each category.
At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated FP Markets and FBS, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.
Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses. We also consider numerous factors when deciding which tier a regulator belongs to. Regulators that we rank as the world’s top regulators, gets a tier 1 rank, while regulators who only scores a tier 5-rank, provide virtually no regulatory oversight. The more top-tier authorities regulating a broker, the higher its trust rating. Read more about regulation and our tier system here.
In our comparison:
Based on these findings, FP Markets earned a higher trust rating than FBS.
When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.
We found that FP Markets has overall lower trading costs than FBS.
Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.
Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both FBS and FP Markets offer copy trading.
A broader range of CFD instruments provides more trading opportunities. FBS offers a greater variety of instruments compared to FP Markets:
For those interested in trading cryptocurrencies, FP Markets offers 11 cryptocurrencies, while FBS offers 5 cryptocurrencies. Therefore, FP Markets is the better choice for cryptocurrency trading.
Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that FP Markets charges a withdrawal fee and FBS does not. Overall, FP Markets has better deposit and withdrawal processes than FBS.
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
FP Markets has better educational support than FBS. Both FBS and FP Markets offer educational support for more experienced traders.Access to frequent and high-quality market research and analysis is crucial.
We found that FP Markets offers better research analysis than FBS and that both FBS and FP Markets offer frequent webinars.
FP Markets is a well-regulated Forex broker with two low-cost, low minimum deposit accounts, and a range of excellent trading tools. We were also impressed with how easy the FP Markets Trading App was to use and the quality of FP Markets' customer service.
In terms of fees, FP Markets has an “ECN pricing” model, which it claims provides “extremely competitive” costs. Unfortunately, we found that the fees on its MT4 and MT5 trading accounts were higher than most of its ECN competitors. But FP Markets does make it easy for beginners to get started, with 100 AUD minimum deposits and unlimited demo accounts.
FBS is a well-regulated international broker with low costs, including a 5 USD minimum deposit, a single trading account and an easy-to-use mobile trading app.
Beginners should be wary of the high leverage available at FBS. Without proper risk management, high leverage can quickly wipe out smaller accounts, though FBS does offer negative balance protection. Otherwise, FBS provides a welcoming environment for beginner traders, with an excellent selection of educational and market analysis materials and 24/7 customer support.
For more detailed reviews, please read our comprehensive assessments of FP Markets and FBS.
You can either use the arrow button or swipe on mobile
Broker | Countries Regulated | Minimum Spread EUR/USD | Minimum Deposit | Trading cost/lot EURUSD | Broker Score | Broker Website | Select and Compare |
|---|---|---|---|---|---|---|---|
 |   | 0.10 pips | USD 3 | USD 7 | |||
 |     | 0 pips | USD 0 | USD 10 | |||
 | | 0 pips | USD 0 | USD 10 | |||
 |       | 0.60 pips | USD 0 | USD 6 | |||
 |    | 0.90 pips | USD 100 | USD 9 | |||
 | | 0.40 pips | USD 100 | USD 14 | |||
 | | 0.70 pips | USD 5 | USD 7 | |||
 | | 0.60 pips | USD 5 | USD 6 | |||
 | | 0.10 pips | USD 200 | USD 8 | |||
 | | 0.70 pips | USD 10 | USD 17 |
Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.
The FxScouts podcast helps beginner Forex traders get the best start to their trading careers.
