FBS
No tier-1 licence found; international clients are served by offshore entities. Confirm which entity your agreement names.
The group lists 2 entities: Tradestone Ltd; FBS Markets Inc.. An offshore entity (Belize) exists and may offer materially higher leverage; confirm which entity your account agreement names.
Caution means: The firm is licensed somewhere we can verify, but part of the business sits under weaker supervision — an offshore entity, leverage far above Tier-1 retail caps, or a register entry that does not cover everything the firm advertises.
Regulator record
Licence and registration references as recorded on each authority's own register.
| Regulator | Jurisdiction | Reference no. | Tier | Standing |
|---|---|---|---|---|
| CySEC | Cyprus | 331/17 | T2 | Active |
| FSC Belize | Belize | 4077102 | T3 | Active |
Scroll sideways — the regulator column stays pinned.
Reference numbers are reproduced as published so you can paste them straight into the regulator's search. If a number on a broker's website does not return that broker on the regulator's own register, treat the site as unverified.
Regulatory timeline
Published notices and alert-list entries recorded against this entity.
No published notices on record
At our last check on 2026-09-06 we found no published warning notice or alert-list entry naming this entity on the registers we monitor. That is a statement about what we found on a given date, not a guarantee about the future — re-check before you deposit.
Register office checks
7 checks anyone can repeat against public sources.
| Result | Check | Finding |
|---|---|---|
| Pass | Founding Year | FBS was founded in 2009. |
| Pass | Headquarters Location | The company's headquarters are in Belize City, Belize. |
| Pass | CySEC Licence | Tradestone Ltd holds CySEC licence number 331/17. |
| Pass | FSC Belize Licence | FBS Markets Inc. holds FSC Belize licence number 4077102 under the Securities Industry Act 2021. |
| Pass | EEA Client Onboarding | EEA clients are onboarded through Tradestone Ltd (CySEC 331/17). |
| Pass | Minimum Deposit | The advertised minimum deposit on the Standard account is $5. |
| Unverified | Negative Balance Protection (non-CySEC) | Negative balance protection outside the CySEC entity is not verified. |
The Purpose of Financial Regulation
Financial regulation for forex brokers serves several crucial functions designed to protect retail investors. Key protections include mandating segregated client funds, which means your deposits are held in separate accounts from the broker's operational capital, preventing the broker from using client money for their business expenses. Regulators also often require brokers to participate in investor compensation schemes, which can provide a degree of financial protection in the event of a broker's insolvency. Furthermore, regulated brokers are typically subject to capital adequacy requirements, ensuring they maintain sufficient financial resources to meet their obligations. These rules aim to foster transparency, fair trading practices, and overall market integrity, reducing the risk of malpractice and ensuring a more secure trading environment for consumers.
Checking a Broker's Licence Status
Verifying a broker's regulatory licence is a fundamental step for any prospective trader. This process involves cross-referencing the information provided by the broker with the official records of the stated regulator. Start by identifying the specific regulatory body the broker claims to be registered with, such as CySEC or the FSC Belize. Then, visit the official website of that regulator. Most regulatory bodies maintain a public register or database of licensed entities. Use the licence number or the full legal name of the broker's operating entity (e.g., Tradestone Ltd or FBS Markets Inc.) to perform a search. Confirm that the details on the regulator's site match those advertised by the broker, including the licence status, effective dates, and the services the licence permits. This direct verification helps ensure the licence is active and legitimate.
Understanding Onshore vs. Offshore Entities at FBS
FBS operates with a dual structure, distinguishing between its 'onshore' and 'offshore' entities based on regulatory jurisdictions. For clients within the European Economic Area (EEA), FBS provides services through Tradestone Ltd, which is regulated by the Cyprus Securities and Exchange Commission (CySEC) under licence 331/17. This entity adheres to stringent EU financial directives, offering protections such as negative balance protection and participation in an investor compensation fund. For most other international clients, FBS Markets Inc., regulated by the Financial Services Commission (FSC) of Belize under licence 4077102, provides trading services. While the FSC Belize offers a regulatory framework, the specific consumer protections, such as investor compensation schemes or explicit negative balance protection, may differ from those provided by a CySEC-regulated entity. It is important to note that FBS.eu discloses 66.43% of retail investor accounts lose money trading CFDs with the CySEC entity, highlighting the inherent risks regardless of regulation.
What Regulation Does Not Protect Against
While financial regulation provides essential safeguards, it is important to understand its limitations. Regulatory oversight primarily focuses on the broker's operational conduct and financial stability, not on the inherent risks of trading itself. Regulation cannot protect traders from market volatility, sudden price movements, or the risk of capital loss due to trading decisions. It does not guarantee trading profits or protect against poor investment choices. Even with segregated funds and compensation schemes, traders can still lose their entire deposited capital if their trades are unsuccessful. Furthermore, regulatory bodies do not provide advice on trading strategies or market analysis. The responsibility for understanding market risks, managing trades, and making informed decisions ultimately rests with the individual trader, irrespective of the broker's regulatory status.
Informed Trading Decisions
FBS presents a regulated option for forex and CFD trading, with distinct entities catering to different geographical regions. The presence of CySEC regulation for EEA clients signifies adherence to robust European standards, including investor compensation and negative balance protection. For clients outside the EEA, the FSC Belize regulation provides a framework, though with potentially different levels of client protection. It is crucial for traders to clearly identify which FBS entity will manage their account based on their residency and to understand the specific regulatory protections applicable to that entity. While regulation offers a layer of security regarding the broker's conduct, it does not mitigate the inherent market risks associated with trading CFDs. Always prioritize your own research into market dynamics and risk management strategies before engaging in trading activities.
User reports
Moderated accounts submitted by readers. Not regulatory evidence.
Reports are published only after a person reads them. A report marked verified means the reporter supplied supporting documentation we were able to check. An unverified report is one person's account and does not change this entity's status.
Submit a reportNo moderated reports have been published against this record yet. If you have dealt with this firm, tell the register office.
Sources
Every source below was retrieved from the publisher's own site.
- CySECCompany/legal page — Tradestone Ltdhttps://fbs.eu/en/about/regulationRETRIEVED 2026-09-06
- FSC BelizeCompany/legal page — FBS Markets Inc.https://fbs.com/aboutRETRIEVED 2026-09-06
Frequently asked
Is FBS a regulated forex broker?
Yes, FBS is regulated by the Cyprus Securities and Exchange Commission (CySEC) for its operations serving clients in the European Economic Area (EEA) and by the Financial Services Commission (FSC) of Belize for most other international clients.
How do I know which FBS entity I will be trading with?
The specific FBS entity you trade with depends on your country of residence. If you are in the European Economic Area, you will typically be onboarded with Tradestone Ltd, regulated by CySEC. Most other international clients trade with FBS Markets Inc., regulated by the FSC Belize. This information is usually available during account registration or on the broker's legal documentation.
Does FBS offer negative balance protection?
Yes, FBS's CySEC-regulated entity (Tradestone Ltd) offers negative balance protection, which is a standard requirement under EU regulations. However, whether negative balance protection is offered by the FBS Markets Inc. entity regulated by the FSC Belize is not verified.