FBS Minimum Deposit
Overall, the minimum deposit amount required to register a live trading account is $1, this minimum deposit is equivalent to 1190 KES. FBS is considered trustworthy and credible, with an overall Trust Score of 75% out of 100.
Minimum Deposit Overview
Deposit Fees and Methods
Step By Step guide to depositing the Minimum Deposit
Pros and Cons
Account Activation Time
👉 FBS charges a minimum deposit amount of 1 USD.
👉 Kenyan traders can deposit a minimum of $1 to open a live account with FBS, which, at the current conversion rate between the US dollar and the Kenyan shilling, is equivalent to 110 KES.
👉 Although the Capital Markets Authority (CMA) in Kenya does oversee FBS, the ASIC, FSCA, CySEC, and IFSC control FBS and its activities.
👉 FBS is a well-known, multi-regulated broker that keeps client deposits in segregated accounts with top-tier brokers, offering some of the highest levels of client money protection in the business.
👉 These assets, which are exclusively utilized for trading, are held separate from the broker account.
👉 All traders who establish an account with FBS are subject to the Know Your Client policy. To create an account, Kenyan traders must verify their identity and provide evidence of residence.
👉 FBS follows anti-money laundering standards, which are reflected in the requirements of traders for deposits and withdrawals from/to unidentified accounts. Traders should be aware of this.
👉 Applying negative balance protection to a retail investor account will prevent a trader from losing their whole account balance if they suffer a big loss. This is typically what happens when traders use a lot of leverage to increase the size of their bets and the market moves against them.
Deposit fees and deposit methods
👉 When Kenyan traders utilize Sticpay to deposit the minimum deposit amount, FBS levies deposit fees. This cost amounts to fees of 2.5% plus $0.3 per transaction. When making the minimum deposit, traders may select between the following options:
➡️ Credit Card
➡️ Debit Card
➡️ Perfect Money
➡️ Local Exchanges
👉 When making the minimum deposit in either one of the retail accounts that FBS offers, Kenyans can choose between these deposit currencies:
A step-by-step guide to depositing the minimum amount
👉 Step 1 – Web selection
➡️ Select ‘deposit funds’ from the ‘Financials’ section under Trading on the website.
👉 Step 2 – Choose payment method
➡️ Choose your preferred method of payment, whether online or offline, and select the ‘deposit’ tab.
👉 Step 3 – Select the trading account
➡️ Select the trading account that traders wish to fund, should they have more than one, and enter the amount they wish to deposit.
👉 Step 4 – Confirm the deposit
➡️ Confirm the deposits on the next page to finalize the deposit.
USD 1 / 116 KES
IFSC, FSCA (South africa), ASIC, CySEC
MetaTrader 4, MetaTrader 5, FBS Trader – all in one mobile trading platform.
Account Activation Time
FBS Kenya Pros and Cons
|✔️ Pros||❌ Cons|
|FBS offers competitive trading conditions with some of the lowest spreads||There are wide spreads charges on some accounts|
|There are several account types to choose from||There is a limited number of tradable instruments|
|There are many social trading opportunities||There are several regional restrictions applied|
|There is an ultra-low minimum deposit requirement|
|The broker is well-regulated and trusted|
Verdict on FBS
👉 Overall, FBS is very competitive in terms of its trading fees and spreads.
What is the lowest minimum deposit for FBS?
The lowest minimum deposit for FBS starts from 1 USD / 110 KES.
Will I pay deposit fees when I top up my FBS account?
If you deposit using Sticpay, you will be charged a deposit fee of 2.5% and an additional 0.3 USD commission.
How old is FBS?
FBS was established in 2009 and is 13 years old in 2023.
Can I deposit or withdraw in KES?
No, you can only deposit/withdraw in USD or EUR.
Are my funds safe with FBS?
Yes, FBS keeps all funds in segregated accounts which are kept separate from the broker account.