FBS Review: What South African Traders Should Know
FBS is a well-known international broker with an FSCA licence in South Africa. However, there is an important nuance around which entity South African clients are actually onboarded through — this page explains it plainly.
Is FBS Actually Regulated for South Africans?
We don’t take “FSCA regulated” at face value from any broker’s marketing. Here’s what we found for FBS — and why we’re being more careful with this one than usual.
A Confirmed FSCA Licence, With an Important Caveat
FBS holds an FSCA licence in South Africa through Trade Stone SA (Pty) Ltd, FSP number 50885. That licence is real. However, multiple independent sources report that South African clients are currently onboarded through FBS’s Belize-based entity (FBS Markets Inc.) rather than through Trade Stone SA. If that is the case, FSCA investor protections do not apply to your account in the same way.
We recommend asking FBS directly and in writing which entity you are being onboarded through, and searching FSP 50885 on the FSCA’s public register at fsca.co.za, before depositing funds.
Other Group Licences
FBS’s group holds licences across multiple jurisdictions: Cyprus (CySEC, via Tradestone Ltd), Australia (ASIC, via Intelligent Financial Markets Pty Ltd), Vanuatu (VFSC, via FBS Markets Pacific Ltd), and Belize (FSC, via FBS Markets Inc.). South African clients who are onboarded through the Belize entity fall under the Belize FSC’s oversight, not the FSCA’s.
What We’re Still Confirming
The most important open question for South African traders is which entity they would actually be onboarded through. Confirming this directly with FBS before funding an account is more important than any other detail on this page.
What You’ll Actually Trade On
FBS supports MetaTrader 4, MetaTrader 5, and its own FBS App for mobile trading.
MetaTrader 4
The older and still widely used of the two MetaTrader platforms. Known for stability, a large library of custom indicators and expert advisors, and broad familiarity among traders who’ve used it for years across other brokers.
MetaTrader 5
The newer MetaTrader platform, with more built-in timeframes, order types and a broader range of tradable asset classes in one terminal. Worth choosing if you’re starting fresh rather than migrating an existing MT4 setup.
FBS App
FBS’s own mobile trading app, supporting trading, account management and deposits on the move alongside the MetaTrader platforms.
How FBS Structures Its Accounts
Simplified account structure; confirm current tiers with FBS.
Main Live Account
FBS is reported to offer a straightforward account structure with a very low minimum deposit. Exact conditions vary by entity and change over time.
Onboarding Entity Matters
The account conditions you receive may differ depending on whether you are onboarded through the Belize entity or the FSCA-regulated South African entity. Confirm this before funding.
Funding Your Account From South Africa
FBS is not reported to offer ZAR base currency accounts. South African traders typically fund in USD or another major currency, which may involve conversion costs.
Deposits & Withdrawals
FBS supports various deposit and withdrawal methods generally, but the specific methods, currencies and processing times available to South African clients depend on which entity they are onboarded through. Check this directly during sign-up.
Exchange Control
Trading through a broker based outside South Africa involves moving funds offshore, which falls under South African exchange control rules. This isn’t personal financial or tax advice. If you’re unsure how these rules apply to your situation, a licensed advisor can walk you through it properly.
Where FBS Holds Up, and Where to Look Closer
Based on what we’ve verified so far. This isn’t a numeric score, and it will get more specific once our full account-level review is published.
Working In Its Favour
- An FSCA licence does exist: Trade Stone SA (Pty) Ltd holds FSP 50885.
- Long operating history, trading since 2009.
- Broad multi-jurisdiction regulatory footprint across Cyprus, Australia, Vanuatu and Belize.
- MT4, MT5 and a proprietary FBS App.
- Very low reported minimum deposit.
Worth Confirming Yourself
- Multiple credible sources report that South African clients are onboarded through FBS’s Belize entity rather than the FSCA-regulated one — the most important thing to confirm directly before funding.
- No ZAR accounts reported, meaning currency conversion costs may apply.
- Exact current spreads, commissions and account conditions, which change and may also differ by onboarding entity.
FBS Review: Frequently Asked Questions
Is FBS regulated in South Africa?
Is FBS a scam?
What trading platforms does FBS offer?
What account types does FBS offer?
Is Exness or FBS better for South African traders?
Still Deciding? See Our Recommended Broker
Of the brokers we’ve reviewed so far, Exness is the one our team recommends first, on the strength of its confirmed FSCA-authorised entity, platform range and long operating history.
Forex and CFD trading carries significant risk, and leverage can amplify losses as well as gains. Broker Verdict may receive compensation when you sign up through this link. This does not change how we evaluate brokers. See our affiliate disclosure and full risk disclaimer.
Written by the Broker Verdict Team. The South African FSCA licence (Trade Stone SA (Pty) Ltd, FSP 50885) was confirmed from multiple independent sources. The onboarding entity question — whether South African clients are actually served through this entity or through the Belize entity — was not independently confirmed and is flagged as an open question throughout this page. Trading conditions (spreads, leverage, minimum deposits) change and are not republished here as fixed figures. Read our full review methodology. Page last reviewed: August 2026.