- Regulator
- Capital Markets Authority (CMA)
- Local company
- Not yet verified
- Licence number
- —
- M-Pesa
- Not confirmed
Broker review · Checked
FBS review 2026: is FBS legit in Kenya and South Africa?
FBS is a large retail broker with a $5 minimum and M-Pesa among its payment methods, but it has no CMA licence. Review sites name Trade Stone SA (Pty) Ltd as its FSCA-authorised company; we have not confirmed the FSP number. Watch for clone sites using the FBS name.
- Founded2009
- 🇰🇪 CMANot licensed
- 🇿🇦 FSCAChecking
- Minimum deposit$5
- M-PesaNot confirmed
Is FBS regulated? Licence by country
- Regulator
- Financial Sector Conduct Authority (FSCA)
- Local company
- Not yet verified
- Licence number
- —
Review sites name Trade Stone SA (Pty) Ltd as FBS's FSCA-authorised company, and one lists FSP 50885. Not found on the FSCA list of OTC derivative providers. We are checking the register.
A licence means someone supervises the broker. It does not make trading safe: most retail CFD accounts lose money.
About FBS
FBS is regulated by ASIC and CySEC for some clients, with global clients served by FBS Markets Inc. in Belize. DayTrading.com warns about clone scams such as “FBSTraders”.
Who FBS suits, and who should look elsewhere
Good fit if you
- want a $5 start with MT4 or MT5
Look elsewhere if you
- want CMA protection
- need a confirmed FSCA number
FBS account types and minimum deposit
| Account | Minimum deposit | Pricing |
|---|---|---|
| Cent / Standard | $5 | EUR/USD about 0.9 pips |
Leverage: Up to 1:3000 globally.
FBS fees: spreads, commission and other charges
| Inactivity fee | None |
| Deposits and withdrawals | No FBS fee |
Work out the cost of a trade before you place it with our pip value and profit and loss calculators.
FBS deposits and withdrawals in Kenya and South Africa
🇰🇪 Kenya
- FBS is not on the CMA register. If it accepts you, your account sits with an offshore company and you have no CMA complaints route.
- M-Pesa is listed among payment methods, per DayTrading.com.
🇿🇦 South Africa
- Trade Stone SA (Pty) Ltd named by review sites; FSP 50885 listed by one, not confirmed.
M-Pesa limits, rand EFT, cards, e-wallets and the payment scams to avoid: read our deposits and withdrawals guide.
FBS trading platforms
- MetaTrader 4
- MetaTrader 5
- FBS app
Is your money safe with FBS?
- Belize company for global clients.
- Clone sites use the FBS name: check the web address.
FBS pros and cons
Pros
- $5 minimum
- M-Pesa listed
- No inactivity fee
Cons
- No CMA licence
- FSCA number unconfirmed
- Extreme leverage
- Clone scams
Our real-money test of FBS
Coming
We will open a FBS account, deposit, place a trade and withdraw, then publish the screenshots, the time each step took and every fee we paid.
FBS withdrawal time: reports from traders
How long do FBS withdrawals really take?
Loading reports…
Median of reports from traders. Not checked by us; our own tests are marked separately.
Withdrawal stuck or refused at FBS? Get a ready complaint letter and the right regulator contact with our complaint desk →
FBS: questions people ask
Is FBS regulated in Kenya?
No. FBS is not licensed by the CMA. It may still accept clients from Kenya through an offshore company, but you would have no CMA protection or local complaints route.
Is FBS regulated by the FSCA in South Africa?
Not confirmed. We have not yet matched FBS to an FSCA licence number, so it gets no “Visit” button for South Africa until we do. Review sites name Trade Stone SA (Pty) Ltd as FBS's FSCA-authorised company, and one lists FSP 50885. Not found on the FSCA list of OTC derivative providers. We are checking the register.
Is FBS regulated in Kenya?
No. FBS is not on the CMA register.
Sources for this review (checked 25 Oct 2026)
Fees, minimums and payment methods change and can differ by the company you sign with. Confirm them on the broker's site before you deposit. Spotted something out of date? Tell us.