Welcome to this FBS review. You’re here wondering Is FBS A Scam.
FBS is a platform that gives you the opportunity to trade forex and make money by promoting and marketing their services.
Have you been approached to join this platform or are you thinking of promoting it?
In that case, I guess you’re probably asking yourself whether this company is a scam or not.
If so, this article is exactly all you need to sort this out.
In this article, you will be provided with all the necessary details of this company, which will help you to decide if this opportunity is truly genuine.
Is FBS A Scam – FBS Summary
- Company: FBS
- Price to join: Not disclosed (affiliate sign up is different from customer sign up)
- Rating: 40/100
- Do I recommend it? Not really.
FBS is a company that trades forex and apparently offers legitimate services that are free from many of the pitfalls seen in other MLM forex opportunities.
Notwithstanding, it has many red flags and a lot of unlikable features.
Secrecy about the ownership of the company and dubious shell companies operating from known scam havens are the major red flags.
We don’t know who the owner is and the owner isn’t providing that information.
What Is FBS?
FBS is a do-it-yourself currency trading platform that provides services to both newbies and highly experienced traders.
In addition to offering different accounts for different experience levels, the company also provides forex traders with analytic and education products.
You can make money as a customer by simply opening one of the accounts that the company offers at various price levels.
After that, you can use their services to make money via trading.
Promoting the company is another way of making money, and this process has a Multi-Level Marketing structure.
Basically, you pay a fee to sign up, and each time you get someone who signs up on the platform, you will be given a commission
You also earn money by building a downline.
You will also get a commission if your recruit gets someone to sign up or if someone is recruited by your recruit’s recruit.
Are There Any Red Flags?
The main red flag with a lot of forex MLM platforms is whenever they claim to have a special algorithm or trading bot that generates money for you while you do nothing.
Such forex platforms are pure scams and Ponzi schemes.
They actually don’t have any trading bot, and new recruitment is their only source of revenue.
The good news is that this company makes no claim to have an algorithm or trading bot.
However, the company still has some shady aspects.
There is no clear information about those behind the operation of FBS, since the company makes no mention of this.
From my years of experience, it is only scammers that behave this way.
FBS also has shell companies that operate in the Marshall Islands, Belize and Cyprus, which is another red flag.
Due to their weak regulatory laws, these places are usually considered as hideouts for scammers.
Also, Iran, Japan, Israel, Brazil, Canada, and USA are not allowed to use FBS services.
There are stiff regulations against scammers in these countries, and FBS clearly doesn’t want to have anything to do with the laws of these countries.
Is FBS A Pyramid Scheme?
Whenever recruiting is involved in an investment, some people quickly tag such investment as a pyramid scheme.
FBS indeed offers real products that aren’t a scam like in the case of an automated trading bot or something of that nature.
While it’s true that there are product-based pyramid schemes, I don’t think FBS can be placed in that category either.
I would rather say that FBS has some attributes of a pyramid scheme, but it’s not an illegal one.
It Will Be Hard To Become Successful Here
I have much knowledge about MLM’s but not forex.
I want to assume forex trading is no small task, and achieving success in it takes years.
From my little research, I found that 90% to 95% of people who start learning forex trading end up failing.
I think that the part of the company that really provides earning opportunity is the MLM side, whose success rate can be as low as 1%.
That is why I find it difficult to give MLM’s a good review.
Regardless of how you look at it, MLM’s, which FBS is, are simply not a good way to make money.
Thus, you need to think twice if you have any intention of promoting this company.
Multi-level marketing is a very ineffective approach to making money.
FBS Compensation Plan
FBS has a very simple compensation plan that differs from most MLM’s whose compensation plans are usually more than 30 pages long and filled with jargon and languages that are hard to understand.
The payout process of FBS involves a simple three-level uni level system that is described as follows:
You are entitled to a 100% commission on the trading activity of your recruits, as well as 15% and 5% commissions on the second level and third level respectively.
That’s it. Very simple.
The products that FBS offers are mostly in the form of different trading accounts designed for different types of forex traders.
What I Like About FBS
Here are a couple of things I like about FBS:
- No automation/trading bots promises: Most of the numerous trading platforms I’ve reviewed in the MLM space are 100% scams. A number of them guarantee you returns on investments through a secret trading bot or something of that kind. FBS offers legitimate services if you want to trade by yourself.
- Simple compensation plan: The company’s payout plan is very straightforward. Commissions are simply earned across three levels.
What I Dislike About FBS
In general, the things to dislike about this company are more than those to like. Personally, I don’t like it for the following reasons:
No details about the owners: No information is given about the operators of this company, which is a sign of danger. So, it’s hard to tell whether the company is being run by professional scammers or not.
Sketchy shell companies: FBS consists of companies that are all registered in terribly sketchy places known for scams.
Low success rate: The odds of achieving success at FBS are around 5% to 1%, regardless of where you’re an affiliate or a customer. I don’t see why anyone would settle for these bad odds when there are other better ways of making money.
Prohibited from big trading markets: The company doesn’t accept customers from countries like Japan, Canada and USA because they don’t want the regulators of such countries to scrutinize them. This is definitely a red flag.
Conclusion: Is FBS A Scam?
I cannot outright say that FBS is a scam.
However, there are just too many red flags. I cannot recommend that anyone get involved with this company.
I’m fine with FBS set up as a “do-it-yourself” trading platform.
The MLM part of FBS is not the issue for me either. I like the fact that associates are only paid on trading activity, not recruitment only .
I’m not understanding how FBS is paying 120% commissions on trading lots.
Even if you factor in broker fees, how is FBS covering 120% commission payouts on traded lots?
I wasn’t that great in algebra, so perhaps I’m missing something.
Not knowing who is running this business is a HUGE problem for me.
I also don’t like the fact that FBS is connected to 3 shell companies in shady countries where regulations aren’t strict.
Normally I would tell people to steer clear of any MLM that’s registered in any ONE of these countries – Cyprus, the Marshal Islands and Belize; yet FBS is registered in all three jurisdictions.
Sorry – there is a pile of red flags that personally I cannot ignore.
If I were you, I’d stay clear of investing my money in anything connected to FBS.
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