Retail FX broker FBS has announced the company is expanding to the Australian market after being granted an Australian Financial Services License (number 426359) and approval from the country’s financial watchdog, ASIC.
Under the supervision of Australia’s regulator, FBS will be required to comply with the jurisdiction’s strict financial laws and guidelines which protect the client’s funds and guarantees their security and transparency of the financial operations.
FBS offers several types of trading accounts for both beginners and experts with more than 120 trading instruments, including Forex, stocks, and cryptocurrencies, educational materials, negative balance protection to safeguard the clients’ funds, 24/5 client support, and an Islamic swap-free option for traders who cannot receive or pay interest due to their faith.
The 12-year old broker is established across the world and boasts more than 16 million clients. It garnered much attention from specific groups of traders for offering swap-free and VPS services. The company has partnered with FC Barcelona in January 2020.
Headquartered in Limassol, Cyprus, FBS is moving towards the multiasset broker route. The firm has recently made available stock trading in its mobile app. Earlier this year, FBS acquired the FBS Banking trademark from www.calay.com with the goal to strengthen its position as a major player in the brokerage field.
FBS has been granted the ASIC license at a time of significant changes in policy regarding CFD trading. By the end of March, leverage will be restricted to a point that average trading volumes are expected to drop by about