FBS Review –  Ponzi Scheme  –  MLM Scam

Website & Company Information

The web domain of the company was registered on the 23rd of January 1995 and was later updated on 2020–08–28. It is evident that the first registration was not done by FBS but by a different company.

With no information on who owns or runs the company, the website does shed some light on a series of linked shell companies;

  • FBS Inc. in the Marshall Islands
  • FBS Markets Inc. in Belize
  • HDC Technologies Ltd in Cyprus

You can see, all these places are favourable places for scammers and most of the modern scam have been emerging out of these places.

At the time of writing this article, Alexa cites Japan (13.9%), Egypt (7.6%) and the Democratic Republic of Congo (3.9%) as top sources of traffic to FBS’s website. It is highly likely that the admin is operating from any one of these countries.

The company claims of operating since 2009 but our research says something else…Their domain was re-registered in 2018 and their official YT channel was created in 2012.

As always, if the company is not being transparent about its corporate structure, then you must think twice before handing over your hard-earned money to anonymous people on the internet.

FBS’ Products

FBS offers multi-tier trading accounts;

  • Cent — minimum $1 deposit
  • Micro — minimum $5 deposit
  • Standard — minimum $100 deposit
  • Zero Spread — minimum $500 deposit
  • ECN — minimum $1000 deposit

FBS’ Compensation Plan

FBS has invested a new jargon, and the company call its affiliates as ‘Partners’. These affiliates earn commissions on trading activity by recruited affiliates.

Trading commissions are paid down three levels of recruitment (unilevel):

  • level 1 (direct recruits) — 100%
  • level 2–15%
  • level 3–5%

Joining FBS

We do not know whether it would require any money to become an affiliate in the FBS.

Conclusion

First of all, FBS claims itself as an ‘International broker’ but people are still researching about the owners of the company or at least some intel on board members.

Add to that; you will see the names of those SHELL COMPANIES all registered in dodgy jurisdictions. FBS has also excluded the following countries from their services list:

Japan, USA, Canada, UK, Myanmar, Brazil, Malaysia, Israel and the Islamic Republic of Iran.

This simply suggests that the company does not want to enter any well-regulated area, and they are avoiding scrutiny (if any). Why would a legitimate trading company intentionally exclude itself from the biggest trading markets on the planet?

Our readers have also complained that despite the above exclusion list, the website is still reachable in Malaysia. So they are smartly denying their existence in these heavily regulated countries, yet providing their services in some of these jurisdictions? Well…if you really want a broker then you have plenty of reputed ones, you may consider them.