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FBK Markets

South Africa|2-5 years|
Suspicious Overrun|High potential risk|

https://www.fbkmarkets.com/

Website

Rating Index

Influence

Influence

A

Influence index NO.1

South Africa 8.02

Surpassed 46.91% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+27 (0)87 702 9234
support@fbkmarkets.com
https://www.fbkmarkets.com/
1 Chadwick Ave, Wynberg, Sandton, 2090

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

English

+27 (0)87 702 9234

English

+27 870927813

English

+27 870927814

Broker Information

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Company Name

FBK Markets SA (Pty) Ltd

Company Abbreviation

FBK Markets

Platform registered country and region

South Africa

Company website
Twitter
Instagram
WhatsApp
  • +27834067662

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Warning: Low score, please stay away! 4
Previous Detection : 2024-06-17
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • The South AfricaFSCA regulation (license number: 49769) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

FBK Markets · WikiFX Survey
Danger A Visit to FBK Markets in South Africa -- Finding No Office
South Africa

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FBK Markets · Company Summary

Registered in South Africa
Regulated by No effective regulation at this time
Year(s) of establishment 1-2 years
Trading instruments Indices, commodities, bonds, forex
Minimum Initial Deposit R100
Maximum Leverage 1:1000
Minimum spread 0.0 pips onwards
Trading platform MT4: Desktop Terminal, Mobile IOS, Mobile Android, WebTerminal Widget
Deposit and withdrawal method - Bank wire transfer- Ozow- Virtual Pay- Skrill
Customer Service 24/7, Email, phone number, address, live chat
Fraud Complaints Exposure No for now
Negative balance protection Yes

It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

Pros and cons of FBK Markets

Pros:

  • Wide range of account types to choose from, allowing traders to find one that suits their needs and preferences.

  • High maximum leverage of up to 1:1000, which can offer significant trading opportunities for those who can manage the associated risks.

  • Variety of deposit and withdrawal methods, including popular options like bank wire transfer and Skrill, as well as local options like Ozow and Virtual Pay.

  • Customer support available 24/7 through multiple channels, including live chat, email, and phone.

  • Educational resources available to help traders improve their knowledge and skills.

Cons:

  • Limited range of trading instruments compared to some other brokers, with only forex, indices, commodities, and bonds offered.

  • Zero spread account option incurs commissions, which may not be ideal for traders who prefer the simplicity of spread-only pricing.

  • MT4 is the only platform offered, which may not suit traders who prefer alternative trading platforms.

  • No information provided on regulatory oversight, which may deter some traders who prefer to trade with regulated brokers.

What type of broker is FBK Markets?

Advantages Disadvantages
FBK Markets offers tight spreads and fast execution due to its Market Making model. As a counterparty to its clients' trades, FBK Markets has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients.

FBK Markets is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, FBK Markets acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that FBK Markets has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with FBK Markets or any other MM broker.

General information and regulation of FBK Markets

FBK Markets is a South African-based forex and CFD broker founded in 2018. The company offers trading services for various financial instruments, including forex, stocks, indices, and commodities. FBK Markets operates using the popular MetaTrader 4 platform and provides several account types with competitive trading conditions, including high leverage and tight spreads. The broker also provides a range of educational resources and has multiple customer support channels available.

In the following article, we will analyze the characteristics of this broker in all its dimensions, providing you with easy and well-organized information. If you are interested, read on.

General information

Market instruments

FBK Markets offers a range of trading instruments that can provide traders with diversification opportunities and high liquidity, particularly in the forex market. However, the limited number of available instruments may not suit all traders, and the high level of risk associated with these instruments should be taken into account. It is essential for traders to thoroughly understand the risks involved and develop a comprehensive trading strategy.

Market instruments

Spreads and commissions for trading with FBK Markets

Advantages Disadvantages
Low spreads starting from 0 pips Commission charged on some accounts
Choice of accounts with zero commissions Limited information on trading costs
Zero spread account available No information on swap fees or overnight costs
Tight spreads on ECN account Limited account options for specific needs

FBK Markets offers a variety of trading accounts with competitive spreads, with the option of zero commissions on some accounts. The standard account has spreads as low as 0.5 pips and zero commissions, while the zero spread account offers spreads as low as 0 pips with a commission of $9. The bonus 100 account has spreads as low as 0.5 pips and zero commissions, and the ECN account has tight spreads and a commission of $4. For those looking to trade with smaller amounts, the micro account offers spreads as low as 0.5 pips and zero commissions. However, there is limited information available on trading costs such as swap fees or overnight costs, and there is no guarantee of pricing accuracy or stability. Additionally, some accounts do have commission charges, and there is a limited selection of account options for specific needs.

Trading accounts available in FBK Markets

Advantages Disadvantages
Multiple account types to suit various needs No account types for professional traders
Different base currencies to choose from Limited account types available
Low spreads and zero commissions available Limited information about account types on the website
Negative balance protection offered on all accounts Limited leverage options for traders
Low minimum deposit requirement of R100 No Islamic account option for Muslim traders

FBK Markets offers a range of account types to cater to traders with different trading needs. The available account types include Standard, Zero Spread, Bonus 100, ECN, and Micro accounts, with different features such as spreads, commissions, and minimum deposit requirements. The base currencies available for all account types are ZAR, USD, and GBP. All account types offer negative balance protection, which ensures that traders do not lose more than their account balance. However, FBK Markets does not offer any account types for professional traders, and there is limited information available about the available account types on the website. Additionally, the leverage options are limited for traders. Despite these limitations, the low minimum deposit requirement and low spreads and commissions offered make FBK Markets an accessible and cost-effective option for retail traders.

Trading platform(s) that FBK Markets offers

Advantages Disadvantages
MT4 is a popular and widely-used platform in the forex industry Some traders may prefer newer or more advanced platforms
MT4 offers a wide range of technical analysis tools and customizable features The platform may be overwhelming or confusing for beginners
MT4 is available on various devices and operating systems, including desktop and mobile The platform may experience technical glitches or downtime, causing inconvenience for traders
MT4 allows for the use of automated trading strategies through Expert Advisors The platform may not offer all the features and functionalities that some traders may require for their trading strategies

MT4 is a highly recognized trading platform in the forex industry, and FBK Markets provides it to its clients on various devices and operating systems, including desktop and mobile. The platform offers a wide range of technical analysis tools and customizable features, making it a favorite among traders who prefer a high degree of control over their trading. Additionally, MT4 allows for the use of automated trading strategies through Expert Advisors, making it attractive to traders who prefer algorithmic trading. However, some traders may prefer newer or more advanced platforms, and beginners may find the platform overwhelming or confusing at first. The platform may also experience technical glitches or downtime, causing inconvenience for traders. Finally, the platform may not offer all the features and functionalities that some traders may require for their trading strategies.

MT4

Maximum leverage of FBK Markets

Advantages Disadvantages
High leverage allows for larger potential profits with smaller initial investments High leverage also increases the risk of substantial losses
Offers tiered leverage system based on account balance, allowing for more control over leverage used Higher leverage may lead to overtrading and emotional decision-making
Maximum leverage of 1:1000 allows for greater flexibility and more options for traders Inexperienced traders may be tempted to use high leverage without understanding the risks involved
Low minimum deposit requirement of R100 allows for easy access to high leverage trading High leverage may lead to margin calls and the potential loss of more than the initial investment.

FBK Markets offers a maximum leverage of up to 1:1000, which is significantly higher than what many regulated brokers offer. The company has a tiered system in place based on account balance, which provides more control over the leverage used. However, high leverage can be a double-edged sword, as it increases the potential for both profits and losses. While a higher leverage ratio may offer traders more flexibility, inexperienced traders may be tempted to use high leverage without fully understanding the risks involved. Overall, traders should exercise caution when using high leverage and always consider their risk tolerance and trading strategy before making trades with significant leverage.

Deposit and Withdrawal: methods and fees

Advantages Disadvantages
Multiple deposit and withdrawal methods available Limited payment options compared to other brokers
Low minimum deposit and withdrawal amount No information provided on withdrawal processing time
Immediate deposit allocation once cleared in company's bank account No e-wallet options besides Skrill
No deposit fees
Negative balance protection

FBK Markets offers a range of deposit and withdrawal methods to cater to the needs of its clients. Traders can choose from bank wire transfer, Ozow, Virtual Pay, and Skrill to fund their accounts, with a minimum deposit and withdrawal amount of R100. One advantage of using FBK Markets is that there are no deposit fees, and immediate transfers are allocated once cleared in the company's bank account. However, the broker has limited payment options compared to other brokers and does not offer e-wallet options besides Skrill. Additionally, there is no information provided on the withdrawal processing time, which can be inconvenient for traders. Nevertheless, FBK Markets provides negative balance protection to ensure that traders do not lose more than their account balance.

deposit and withdrawal methods

Educational resources in FBK Markets

Advantages Disadvantages
Comprehensive educational resources No live webinars or interactive sessions
Available in different formats Limited in-depth analysis and research materials
Free access to all traders No structured courses or certifications
Cover various trading topics May not be sufficient for advanced traders
Easy to navigate and understand Lack of personalization or tailored content

FBK Markets offers a range of educational resources, including videos and eBooks, which are available in different formats. These resources cover various trading topics and are comprehensive, making it easy for traders to navigate and understand the content. The educational resources are also free and accessible to all traders, regardless of account type or trading volume. However, there are some limitations to these resources, including the lack of live webinars or interactive sessions, limited in-depth analysis and research materials, and no structured courses or certifications. Additionally, the content may not be sufficient for advanced traders, and there is a lack of personalization or tailored content.

This company also has its official YouTube channel. Here is a link of one of its videos.

educational resources

Customer service of FBK Markets

Advantages Disadvantages
24/7 live chat support No support in languages other than English
Multiple communication channels No FAQ section on the website
Physical address available Limited phone support availability
WhatsApp support available
Prompt response times

FBK Markets offers multiple communication channels for customer support, including 24/7 live chat, email, WhatsApp, and social media platforms like Facebook, Twitter, and Instagram. The broker also provides a physical address for customers to visit. The advantage of having multiple channels for customer support is that it allows customers to choose a convenient means to get in touch with the company. Additionally, the availability of 24/7 live chat support and WhatsApp support provides customers with prompt responses to their queries. However, a disadvantage of FBK Markets' customer care dimension is the limited availability of phone support, as well as the absence of an FAQ section on the website. Also, the support services are only offered in English, which may pose a challenge for non-English-speaking customers.

customer support

Conclusion

FBK Markets is a South African-based forex broker that offers a range of trading accounts and platforms, educational resources, and customer support options. The company provides traders with a wide range of financial instruments to trade, including indices, commodities, bonds, forex. FBK Markets offers competitive trading conditions, such as tight spreads, high leverage, and low deposit requirements, which can appeal to both novice and experienced traders. However, the limited number of platforms and payment options, as well as the lack of regulation by a reputable financial authority, can be seen as potential drawbacks. Overall, FBK Markets can be a suitable option for traders seeking a low-cost, high-leverage trading environment, but it is important to conduct further research and due diligence before investing in this company.

Frequently asked questions about FBK Markets

  • Question: What is FBK Markets?

  • Answer: FBK Markets is an online Forex and CFD broker that provides trading services for indices, commodities, bonds and forex pairs.

  • Question: Is FBK Markets a regulated broker?

  • Answer: No, FBK Markets is not a regulated broker.

  • Question: What types of accounts are available in FBK Markets?

  • Answer: FBK Markets offers five types of trading accounts: Standard, Zero Spread, Bonus 100, ECN, and Micro accounts.

  • Question: What is the minimum deposit in FBK Markets?

  • Answer: The minimum deposit in FBK Markets is R100.

  • Question: What is the maximum leverage offered by FBK Markets?

  • Answer: FBK Markets offers a maximum leverage of up to 1:1000, depending on the account balance.

  • Question: What platforms are available in FBK Markets?

  • Answer: FBK Markets offers four trading platforms: MT4 Desktop Terminal, MT4 Mobile for iOS, MT4 Mobile for Android, and MT4 WebTerminal Widget.

  • Question: How can I contact FBK Markets customer support?

  • Answer: FBK Markets customer support is available via live chat 24/7, email, phone, WhatsApp, and social media platforms such as Facebook, Twitter, and Instagram.

News

Is FBK Markets Reliable?

ExposureIs FBK Markets Reliable?

2023-06-30 17:30

In today's comprehensive review, WikiFX will delve into the details of FBK Markets, a relatively new Forex broker established in 2020.

WikiFX
2023-06-30 17:30
Exposure
Is FBK Markets Reliable?
WikiFX Reviews FBK Markets | Is It Safe?

NewsWikiFX Reviews FBK Markets | Is It Safe?

2023-03-08 17:08

In today’s article, WikiFX will be taking you on an in-depth review of FBK Markets, which is a relatively new Forex broker within the industry that was established in 2020.

WikiFX
2023-03-08 17:08
News
WikiFX Reviews FBK Markets | Is It Safe?
DJ COACH & FBK MARKETS – FOREX MASTERMIND OR FRAUD

NewsDJ COACH & FBK MARKETS – FOREX MASTERMIND OR FRAUD

2022-10-27 17:54

Who is Dj Coach (Forex Broker Killer) and FBK markets? You may ask well this seems to be the question on everybody's lips

WikiFX
2022-10-27 17:54
News
DJ COACH & FBK MARKETS – FOREX MASTERMIND OR FRAUD
FBK Markets: An overall review after it's first year of service

NewsFBK Markets: An overall review after it's first year of service

2022-10-27 17:35

In South Africa, we are no strangers to new brokers popping up in the market. In recent years we have had an explosion of new brokers and with that has come a new set of problems as we have had inexperienced brokers shut down due to their misconduct. Today we will be reviewing FBK Markets, one of the new brokers that joined the South African forex Industry. Can the broker be trusted or should you stay away from this broker?

WikiFX
2022-10-27 17:35
News
FBK Markets: An overall review after it's first year of service

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FX1294427517
more than one year
FBK Markets’ account-opening process is too long, much longer than other brokers. I should not have opened real account so early, and now I am considering leaving.
2023-03-02 10:18
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0
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男人不累才是罪
more than one year
On this platform, I registered an account on 12/19/2022, I deposited some currencies, but now my account is not verified yet? I reported this problem though both telephone and email, but they did not reply me…
2023-02-15 09:46
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0
0
米豆
more than one year
FBK Markets advertised on its website that it would offer a 100% deposit bonus, but my sanity told me that it was most likely a scam to lure me into investing in their platform. It is estimated that even if the bonus is given, it cannot be withdrawn. Did anyone get their winnings and successfully withdraw them?
2022-12-01 14:04
Reply
0
0
FX1069214075
more than one year
Honestly, this is the worst broker I ever met. Let’s start with the support that take a long time to respond you, literally, you have to send numerous messages to get that response. Here comes the second problem: they always manipulate the trades, when there are big events it always off quotes and spreads are just insanely high. Thirdly, the withdrawal takes a while it can take up to a month! Yes! I am not taking nonsense! I wouldn’t trade with it anymore.
2022-12-01 14:03
Reply
0
0
FX1534864777
more than one year
Guys I am still investigate this broker and so far I am not impressed, it started out with a deposit that was never allocated even after communicating with countless so called agents from the broker. Then a few days back the site indicated that I had made a large withdrawal wherein I have never made a withdrawal from the broker another issue was when I was doing live trading and they forged a candle for like two seconds to spike out my trades thereafter the candle was non existent
2022-11-30 10:35
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0
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