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Verifying your account in FBS is now easier than ever with the addition of the liveness feature. Find out how it works in the full guide below.
Choosing FBS as your broker is undoubtedly a great idea. Founded in 2009, FBS is a global multi-asset brokerage firm that offers a wide range of trading services for clients in more than 150 countries worldwide. To ensure their client's safety, the broker has obtained licenses from multiple authorities such as the famous ASIC, CySEC, FSCA, and IFSC.
Whether you become a client of FBS or other regulated brokers, you need to pass the verification process to get full access to their services. Many traders seem to think that this step is unnecessary and time-consuming. However, it's important to point out that the internet these days is filled with all kinds of users including frauds and scammers. Therefore, any reputable platform needs to shield customers from fraudulent activities through the KYC procedure.
In FBS broker, the verification process is very straightforward especially with the new liveness feature. Now clients can easily verify their accounts in the blink of an eye. Let's find out how it works in the guide below.
Since 2009, the action of FBS Holding Inc. or known as FBS in the world of forex trading has been recognized by various international institutions. With clients reaching 14 million as of 2019, FBS has received the title of Most Transparent Forex Broker 2018, Best Investor Education 2017, Best Customer Service Broker Asia 2016, IB FX Program, and many others.
FBS is regulated by FSC Belize and CySEC Cyprus. This broker has been trusted by millions of traders and 370 thousand partners from various countries. Based on their data, FBS garners about 7,000 new traders and partner accounts every day. And, 80% of the clients stay in the FBS for a long time. No wonder the broker is growing rapidly due to the incredible growth in the number of clients.
Trading products offered by FBS range from forex, CFD, precious metal, and stock. For forex trading, CySEC-regulated FBS offers leverage up to 1:30 on Cent and Standard Accounts. Clients who want to try higher leverage than that can alternatively register an account under FBS Belize.
FBS spread begins from 0.5 pips for Pro account type and from 0.7 pips for Standard and Cent accounts. On a standard account, volume orders can be made from 0.01 to 500 lots. Therefore, this account is recommended for experienced traders.
Whereas on Cent Accounts, volume orders can be carried out with a maximum of 500 cent lots or the equivalent of 5 standard lots. Cent Accounts involve a different level of risk. FBS recommends Cent Accounts for beginner traders. All account types support the following trading instruments: 36 Forex pairs, 8 metals, 3 energies, 11 indices, 127 stocks, 5 crypto pairs.
Before plunging into the real forex market, traders can practice with FBS Demo Account which consists of two types, i.e Standard and Cent.
FBS uses the MetaTrader 4 and MetaTrader 5 platforms. They offer them on Windows and Mac as well as Android and iOS mobile. These platforms provide a trading experience at traders' fingertips, allowing traders to progress as a trader anywhere at any time.
MetaTrader platforms also have a variety of mainstay features, including the possibility to create, buy, and use expert advisors (EA) and scripts, One-click trading and embedded news, technical analysis tools, the possibility to copy deals from other traders, hedging positions, and VPS service support.
Another advantage provided by FBS is a deposit bonus of 100% for clients who fulfill certain requirements. The process of FSCing and withdrawing funds can be run easily and quickly. Based on clients' testimonies, each process usually takes no more than 3-4 hours, except on holidays.
Traders also have the opportunity to develop a side business when trading with FBS, namely as an Introducing Broker (IB) or Affiliate. The FBS partnership system provides partner commissions that are already in 3 level positions. Only by introducing new clients to FBS according to certain procedures, traders can earn extra income.
Traders will also get trading education experience at FBS. They have prepared a comprehensive forex course. The course consists of 4 levels: beginner, elementary, intermediate, and experienced. Traders can take courses that will turn them from newbies to professionals. All materials are well-structured. Besides, FBS provides various forex analyzes, webinars, forex news, and daily market analysis that can be accessed easily on their site.
Traders can access the FBS website with many language choices. Of course, this will increasingly provide comfort for traders. Available languages include English, Italian, French, Portuguese, Indonesian, Spanish, and others. Live chat support is also provided 24 hours 7 days a week.
In conclusion, FBS is a widely known broker among retail traders around the world. It continually grows to become a preferred broker because of flexible trading conditions that enable its clients to trade with various instruments, low deposit, and other trading advantages.
Step-by-Step FBS Verification Guide
The main goal of FBS verification is to prove the validity of your identity, particularly your ID/passport number and date of birth. In that case, you will be asked to provide a colored copy of at least one of the following documents:
- Passport
- National ID
- Driver's License
Please make sure that the file is either in JPEG, PNG, BMP, or PDF format, and that the total size does not exceed 5 MB. To save time, it is highly suggested to prepare the documents in advance. Once you're ready, follow the easy steps below:
- Head over to FBS' official website or open the mobile app and log in to your account.
- Click "Verify" in your Personal Area to begin the process.
- Specify your country of residence, then select the type of document that you'd like to upload to FBS. Click "Next" to move on.
- Upload the documents, starting from the front side to the backside. There is also an option to continue the process on your phone, so instead of choosing an existing file, you can take the photo on the spot using your phone camera.
- After uploading the documents, follow the instructions on the screen and take a clear photo of your face to complete the liveness identification. Don't forget to allow FBS broker to access your phone camera beforehand.
- You're almost done! Wait for the FBS team to check your documents. As soon as your account is verified, you'll see a green indicator with a white checkmark on your dashboard. You will also receive a notification via email.
- If your verification request is rejected, you will be notified along with the reasons. Therefore, you can fix the mistake and try again later.
Why Is the New Liveness Feature an Important Upgrade?
FBS is known for taking security matters very seriously while also considering client satisfaction. In that case, the new liveness feature is one of its recent breakthroughs.
It basically uses a face scanner system to verify the client's face, thus adding more security and making the process more seamless.
Compared to the old verification system, the new feature certainly brings quite a lot of benefits to the table. Instead of only relying on document scans, using biometric identification to verify one's identity would help FBS broker to easily distinguish live human beings from fake approaches like facial spoofing attacks, therefore providing a more accurate and reliable validation.
Previously, clients were also asked to enter their ID number and date of birth manually, but this step is no longer necessary. In the new system, you only need to upload the documents and complete the liveness test.
Moreover, data security from the liveness features is enhanced to meet modern banking system security standards. This can open new opportunities in the future, like the addition of new payment methods.
Final Words
FBS is a trusted and regulated broker with more than a decade of experience. To protect their clients from theft and fraud, the broker requires each client to complete the verification process and verify their bank cards before making any transactions. It is also a means to ensure that the company is never seen as suspicious or involved in money laundering and other criminal activities.
There is no need to worry though as the FBS registration and verification process are very modern and straightforward. You can take advantage of the user-friendly interface as well as the handy liveness feature. Compared to other brokers, this new system is certainly easier to follow, even for complete beginners.
FBS is a worldwide broker with a presence in more than 150 countries. More than 23 million traders and over 400k partners have chosen FBS as their preferred forex brokerage company. To provide the best customer experience, FBS organizes seminars and special events.
5 Comments
Joshua
Feb 20 2024
Wow I've never heard of a forex broker that uses the liveness feature for verification up until now! Impressive… As far as I know, liveness is typically used by big corporations and modern bank services. It is indeed very helpful to speed up the process with high accuracy. The system is practically impossible to manipulate since it requires you to take a live photo on the spot. My question is, what happens to those who are already verified? Do they need to update their documents and do the liveness test according to the new system? Thanks
Lily M.
Feb 23 2024
Once you're verified, there is no need to do verify your profile twice. The liveness feature is a newly added feature for new clients, mainly to increase security and speed up the process. Thus, I believe existing clients don't need to worry about it.
You can, however, update your documents if you want. For instance, you may provide the latest document if the one you submitted is expired, or you may provide a new residential address. To ensure the necessity of this, please refer to the broker's website or simply reach out to the customer service for further guidance. Brokerage firms may change their policies, so it's important to get the latest update from the official source.
Angela
Feb 21 2024
As a newbie in the trading world, I still don't understand why verification is needed to access certain features in FBS, particularly deposit and withdrawal. Withdrawal itself can take quite a long time, which already sounds frustrating. Moreover, if you're unverified, you need to complete the procedure before making a withdrawal. This means adding another several days of waiting, right?
Aside from that, I wonder if there's any other advantage of completing the verification process. Will it affect my trading activities in general?
Thank you so much for your response.
Diva Nadia
Feb 21 2024
Hello there.
First of all, verification is required as a part of the KYC procedure and Anti-Money Laundering regulations. The process is more or less the same in most regulated brokers, so it's not only FBS. The main goal is to protect clients' funds from scammers, hackers, and other criminals. It ensures that you and only you can withdraw the money to your real bank account or card.
Second, verification is needed to make sure that you are exactly who you say you are. This is why you need to provide your proof of identity and proof of residence. It's to prevent underage people from entering the market.
Lastly, verification also ties to the company's image and reputation. In such a competitive market, brokers need to convince their clients that their service is trustworthy, reliable, and obviously not suspicious in the slightest bit. Believe it or not, a single case of money laundering or other criminal activity can send the business to rock bottom, so this is why verification is needed to avoid such nightmare.
Hope it helps.
Phillip
Feb 24 2024
I totally agree with Nadia. Verification is conducted not only to give access to certain features like deposit and withdrawal, but the procedure is meant to keep clients and their funds safe. In fact, that's the main advantage that you can get from fulfilling the requirements.
This will impact your trading activity, although indirectly. As a verified client, you can enjoy the provided service completely safe from scams and other criminal threats. It's also easier to manage your account without any barrier. I highly suggest completing the verification as soon as possible, even before making any trade. It'll help you trade better and eliminate one of your concerns. Good luck on your journey