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Unethical practices and unfair trading practices
mrrolex
Portugal 2024-05-24
Related Broker:
FBS
Regulators: CySEC,Belize FSC
Claims: Misleading claims,Fund Recovery,Compensation for Trading Losses
Amount: --
Progress: Replied
3 comments
BrokersView Brokersview leaves a reply
2024-05-24

Dear user,

We have received your complaint about FBS, and have conveyed to this broker. 

Could you please provide some proofs? including trading account number, deposit, trading records and chat history with broker. You may add proofs in your complaint https://www.brokersview.com/complaint/unethical-practices-and-unfair-trading-practices-1369.

We will try to urge this broker to settle your issue. If any response, we will immediately inform you.

Best regards

BrokersView


mrrolex File a Complaint
2024-05-24

I've had my account with them for a solid five years, and it's been fully verified. Recently, I opened a new MT4 account, deposited funds two months ago, and have been actively trading since. To my surprise, I discovered today that my trading activity was abruptly disabled. Upon checking my email, I found correspondence from FBS stating that my account has been frozen due to an internal investigation related to their Anti-Money Laundering Policy. They're now requesting an extensive list of documents including proof of the sources of my funds, bank statements, utility bills, and even a video of me holding my passport or ID near my face.

This level of scrutiny would be understandable at the outset of establishing an account or initiating trading, but after five years of account tenure and consistent trading for two months, it's disconcerting to say the least. Compounding matters, I've recently experienced significant losses, with my account plummeting by 90%. However, I've been steadily working towards recovery, managing to regain a substantial portion of my losses.

Adding to my concerns are observations of what appears to be market manipulation and instances of significant slippage in my orders. This entire experience has led me to question the integrity of FBS as a brokerage firm. It's becoming increasingly apparent that their primary focus is on acquiring deposits rather than facilitating genuine market access for their clients.


www.fbs.com

3 comments