about FBK Markets
The platform claims to provide trading services such as foreign exchange, stocks, and CFDs. The company name is FBK Markets SA (Pty) Ltd, which is registered in South Africa and is the legal representative of RCG MARKETS (Pty) Ltd. It is regulated by South Africa FSCA No. FSP49769.
We suspects that the license FBK Markets claim to possess is a clone – which is a major red flag as this means FBK Markets is unregulated.
brokers Is It Safe?
unregulated.FBK Markets claims its registration with FSCA, but there is No detailed info can prove that.
FBK Markets offer several trading instruments, including forex pairs, indices, bonds and commodities. Unlike many of its rivals, it does not dabble in cryptocurrency trading.
FBK Markets currently only offers MT4 platform for its trading clients.
FBK Markets offers 5 different types of accounts
One of the main attractive features offered by FBK Markets is the low minimum deposit of only R 20, high leverage up to 1:1000, and low spreads from as low as 0 pips.
Do note that a common tactic used by forex brokers to capitulate traders’ accounts is by recommending high-leverage and low-deposit accounts. This goes hand-in-hand with the deposit bonus campaigns that are commonly advertised by brokers.
These offers create much higher chances for these inexperienced traders to blow their account easily, which is equivalent to “easy profits” for the broker itself. However, it does not necessarily mean that the said broker is a scammer, as this is just a common marketing strategy within the industry to be more attractive to prospects.
In conclusion, Brokersview does not recommend FBK Markets as it is a risky broker with no license nor any other form of regulatory status. Given that there are a myriad of forex brokers in the market with higher credibility coupled with licenses and regulatory statuses, traders who wish to trade with FBK Markets should reconsider this decision carefully.