FBK Markets-Some important Details about This Broker

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

Feature	Detail
Regulation	Suspicious clone
Market Instrument	forex
Account Type	Standard, Zero Spread, Bonus 100, ECN and Micro
Demo Account	N/A
Maximum Leverage	1:1000
Spread	Vary on the account type
Commission	Vary on the account type
Trading Platform	MT4
Minimum Deposit	R20
Deposit & Withdrawal Method	OZOW, MasterCard, Visa and Skrill

FBK Markets, a trading name of FBK Markets SA (Pty) Ltd, is allegedly a forex broker founded in 2020 and registered in South Africa that claims to provide its clients with flexible leverage up to 1:1000 and floating spreads from 0 pips on the MT4 trading platform via 5 different live account types, as well as 24/7 customer support service. Here is the home page of this brokers official site:

But with all these claims we can't be assured of the legitimacy of the broker because it holds a suspicious clone Financial Sector Conduct Authority - FSCA license. Hence, FBK Markets is an unregulated forex broker.

Note: The screenshot date is January 13, 2023. WikiFX gives dynamic scores, which will update in real time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.

Market Instruments

FBK Markets is a forex broker that mainly offers forex pairs trading.

Account Types

FBK Markets offers 5 types of live trading accounts, Standard, Zero Spread, Bonus 100, ECN and Micro accounts. The Micro account with a minimum deposit of R20, while R100 for other account types.

Leverage

FBK Markets claims to offer adjustable leverage options up to 1:1000. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

All spreads with FBK Markets are a floating type and scaled with the accounts offered. Specifically, the spread starts from 0 pips on the Zero Spread account, tight spreads on the ECN account, and 0.5 pips on the left three account types.

As for the commission, there is a commission of $9 and $4 per standard lot on the Zero Spread and ECN account respectively, while no commission on the other account types.

Trading Platform Available

FBK Markets offers the world's most powerful, popular, and customer-recognized MetaTrader4 (Desktop, iOS, Android and Web Terminal) platform that has an easy-to-use, attractive design interface. The program is used by more than 12 million traders through more than 1,500 brokers around the world.

Deposit & Withdrawal

FBK Markets offer a variety of ways to deposit and withdraw your money which includes: OZOW, MasterCard, Visa and Skrill. The minimum deposit is R20 or equivalent to your base currency. Deposit processing are said to be instant. Withdrawals are processed up to 48 working hours, however this does not include unforeseen circumstances related to possible system technical errors.

Bonuses

FBK Markets advertises to offer 100% deposit bonus. In any case, you should be very cautious if you receive a bonus. Bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Note that brokers are prohibited from using bonuses and promotions by all leading regulators.

Customer Support

FBK Markets have done much in providing ways of reaching out their customer support, as it important to check while looking for broker to trade with. Below are the provided means of contacting their support:

Physical address

1 Chadwick Ave, Wynberg, Sandton, 2090

Email address

support@fbkmarkets.com

Whatsapp number

+27(0) 63 419 2896

Phone numbers

Support: +27(0)87 702 9234

FICA: +27(0)87 702 9222

Working time

Monday - Sunday : 24/7 Holidays : 9am - 14:00pm

You can also contact them via Live chat, send messages online to get in touch or follow their social networks such as Twitter, Facebook, and Instagram.

Pros & Cons

Pros	Cons
• Multiple account types	• Suspicious clone
• MT4 supported

Frequently Asked Questions (FAQs)

Q 1:	Is FBK Markets regulated？
A 1:	No. It has been verified that FBK Markets holds a suspicious clone Financial Sector Conduct Authority - FSCA license.

Q 2:	At FBK Markets, are there any regional restrictions for traders？
A 2:	Yes. FBK Markets does not offer services to US investors.

Q 3:	Does FBK Markets offer the industry-standard MT4 & MT5？
A 3:	Yes. FBK Markets supports MT4.

Q 4:	What is the minimum deposit for FBK Markets？
A 4:	The minimum initial deposit at FBK Markets to open an account is R20.

Q 5:	Is FBK Markets a good broker for beginners？
A 5:	No. FBK Markets is not a good choice for beginners. Though it offer the industry-standard MT4 platform, it lacks legitimate regulation.