FBS, an offshore forex broker, registered and regulated in Belize, announced the number of its clients passed the 2 million mark.
It appears that the number of its clients is steadily growing, as its 1 million-th client registered her account in the beginning of the year, as per the broker’s statement.
FBS, however, does not clarify if this is the total number of all accounts, or just the deposited accounts, which generally are less than 2% of demo accounts registered with the brokers.
If 2 million is the number of active clients of FBS, then it is indeed a spectacular feat, especially compared to that of major global brokers who faithfully report the number of active accounts – some every month, while others do it on a quarterly basis.
E-Trade, a major US forex and securities broker, for example, reported that the total number of brokerage accounts, as of the end of June was 3.3 million. Interactive Brokers, another major US broker, reported it had 375 000 active customer accounts in Q2 of 2016. IG Group has 136 000 clients and the Japanese Money Partners Group had 280 816 active clients in June. At the same time, the largest forex broker in Japan, the largest forex market in the world – GMO Click Securities had 445 386 OTC forex accounts and 337 741 TFX Click365 accounts (for exchange-traded forex).
FBS was established in 2009. It is regulated by the international Financial Services Commission (IFSC) in Belize and is mostly active in Asia and Russia, but is present in more than 120 countries and has 13 international offices.
FBS offers trading in the major currency pairs, metals and CFDs. The minimum deposit is $1 and the leverage is up to 1:3000. The broker also offers spreads from 0 pips.
Since the beginning of the year it opened two more offices in Thailand – in Bangkok and on the Phuket Island. Recently it laucnhed trading on the MetaTrader 5 platform and expanded its payment options with the LTC Forex system, for clients in Laos.