Forex brokers south africans choose

Forex brokers south africans choose

Best Forex Brokers in South Africa 2022,South Africa Forex Brokers Comparison

Ad$30 Forex No Deposit Bonus Scheme only be applied to one account per New Client & per IP. % Credit Bonus offer only applies to Micro, Premium, and Islamic account types AdRange of derivative investment platforms - 85% of retail derivative accounts lose money. Best Forex brokers review blnomo Olymp Addedicated support. Very safew to deposit and withdraw. View Video Tutorials. 24/7 Support. This trading platform will give you the freedom to trade. Ultra fast blogger.com has been visited by 10K+ users in the past month ... read more

When trading indices, traders have access to VIX. F or Volatility 75 futures contracts. Overall, Pepperstone is the best NDD forex broker in South Africa. Pepperstone is an industry-leading NDD Forex broker that provides traders with an array of favorable features and tools. Traders use this broker because it offers a variety of different trading strategies.

Included are both MetaTrader and cTrader. Numerous trading instruments are offered to traders. Overall, XTB is the best STP forex broker in South Africa. XTB is a Straight-Through-Processing STP broker that provides competitive pricing and robust proprietary trading technologies. Overall, Tickmill is the best sign-up bonus broker in South Africa. Overall, Forex trading in South Africa is a popular activity and more international brokers are opening offices in the country, providing South African forex traders with a larger selection of forex trading partners.

While traders must choose a broker according to their needs, it is important to choose one that is well-regulated by the FSCA and that has a good reputation.

There are several brokers licensed by the FSCA in South Africa including Plus, HF Markets, Tickmill, Exness, AvaTrade, IG, and more. While you could register a live trading account with ZAR and less, most brokers recommend that you deposit 2, ZAR and more to cover margin requirements at the start of your trade.

You can start trading forex by consulting the range of educational material there is to gain more understanding of the subject. Next, you can research brokers in South Africa to find one that fits your trading needs and objectives.

Lastly, when you have selected a broker, you can register an account, deposit funds, download the trading platform, and start trading. According to statistics, the median income for a professional forex trader can be 45, ZAR and more. We aim to help traders in South Africa find the best forex brokers. JSE Shares. What is the JSE All Share Index today? How to buy Sappi shares on the JSE. How to buy Telkom SA shares on the JSE. How to buy Woolworths shares on the JSE. How to buy Clicks shares on the JSE.

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Khwezi Trade Review. XM Review. RoboForex Review. IG Forex Review. JustForex Review. Plus Review. HotForex Review. Tickmill Review. Oanda Review. Avatrade Review. com Review. NAGA Review. Axiory Review. BDSwiss Review. Alpari Review. Easy Equities Review. Saxo Bank Review. Rand Swiss Review.

CMC Markets Review. Best Forex Brokers. Stop Orders and Limit Orders: How to manage forex trading risk. NASDAQ Forex Brokers in South Africa. FSCA Regulated Forex Brokers in South Africa. What is an Islamic trading account? Which are the best stockbrokers to use in South Africa? Best Forex Brokers with Minimum Deposits. Best Forex Brokers with ZAR accounts. Best MetaTrader 5 forex brokers for traders in South Africa.

Best MetaTrader 4 forex brokers for traders in South Africa. JSE Top 40 Index. Best shares to buy right now Best high leverage Forex brokers. Min Deposit. Official Site. Visit Broker. User Score. Sign Up. Overall Rating. USD ASIC, FSA. MetaTrader 4, MetaTrader 5. Open a Real Account. FSCA, FSA, CySEC, FCA, CBCS, FSC BVI , FSC Mauritius. ASIC, CySEC. USD 5. CySEC, FSC, FSCA. MetaTrader 4 and MetaTrader 5. USD 1. IFSC, FSCA south africa , ASIC, CySEC.

MetaTrader 4, MetaTrader 5, FBS Trader — all in one mobile trading pltform, CopyTrade. Welcome bonus. CySec, FSCA. MetaTrader4, Metatrader 5. IFSC, CySec, ASIC. MetaTrader 4. Australia, Bahamas, Cyprus, Dubai, Germany, Kenya, UK.

MetaTrader 4, MetaTrader 5, cTrader and TradeView. MFSC, IFSC, FCA. MetaTrader4, MetaTrader5, cTrader, CopyTrade. CySec, FSC, FSA, BaFin, NFA. MT4, MT5. Metatrader 4 , Metatrader 5. Very Low. Open a Trading Account. USD 0. FCA, CFTC, ASIC, FSC, BVI and IIROC.

MetaTrader 4 MT4 ; MetaTrader 5 MT5. FCA, ASIC. CySEC, FCA, ASIC, FMA, FSB, MAS. FSCA, SCB. Meta Trader 4. CySec, FCA. No Trading Desk. FSCA , FSA. Meta Trader 5. Top 10 Rated Forex Brokers. Most Visited Guides. Best South African Forex Brokers Forex Trading Guide Best ECN Brokers FSCA Regulated Forex Brokers NASDAQ Forex Brokers Forex Trading Platforms In South Africa MT4 Brokers In South Africa MT5 Forex Brokers In South Africa Forex Trading Robots NDD Forex Brokers STP Forex Brokers. Account Minimum.

Pairs Offered. OPEN ACCOUNT. Central Bank of Ireland CBI , BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, FRSA, CySEC, ISA. AvaTradeGO, AvaOptions, AvaSocial, MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade. Forex, Cryptocurrencies, Commodities, Treasuries, Bonds, Indices, Stocks, ETFs, Options, CFDs, Precious Metals. Standard Account, Standard Cent Account, Raw Spread Account, Zero Account, Pro Account. The mobile app still lacks a few features to put it in the same league as the apps of competitors.

While social trading is available through MT4, it lacks more advanced performance metrics. Micro Account, Premium Account, HFcopy Account, Zero Spread Account, Auto Account. Forex, Precious Metals, Energies, Indices, Shares, Commodities, Cryptocurrencies, Bonds, Stocks DMA, ETFs.

FBS Cent Account, FBS Micro Account, FBS Standard Account, FBS Zero Account, FBS ECN Account, FBS Crypto Account. Forex, Precious Metals, Indices, Energies, Stocks, Exotic Forex, Cryptocurrencies. Precious Metals, Stock Trading, Stock CFDs, Indices, Forex Indices, Forex Currency Pairs, Commodities, Stock Baskets. Forex, Cryptocurrencies, Stock CFDs, Commodities, Equity Indices, Precious Metals, Energies, Shares,. The parent company of XM i.

Their fees with their Ultra Low Account is also low. They have negative balance protection with all their account types. The max. leverage is with all these account types. Also, their Swap fees is very high for most of the instruments. Their trading conditions are quite good. Their support is also really fast in handling issues, especially their live chat which also available 24 hours during the week.

AvaTrade is a European broker that is also regulated with FSCA in South Africa. AvaTrade is an European forex broker that was founded in Their deposit and withdrawal options include credit cards, wire transfer, and wallets. They also accept local bank transfer deposits. But they do have a local phone number in South Africa.

read our in-depth Avatrade review. Plus is a popular CFD trading platform, that is also listed on London Stock Exchange. Their platform is easy to use, and very user friendly.

But the downside is that it is not available on desktop. have lower leverage as per the leverage restrictions with ASIC regulations. But their education section is quite limited though.

read our in-depth Plus review. IC Markets is one of the largest forex broker in terms of daily trading volume. The traders from SA are registered under their offshore regulation. This makes them somewhat low risk broker for traders. With Raw spread accounts, the spread is as low as 0. With Standard account too, the spread is competitive, around 0. Their trading fees is comparatively quite low even with their Standard account. There is no extra commission with Standard Account type at IC Markets.

Their Swap fees are competitive but are not the lowest. The exact fees depend on the currency pair that you are trading. You have the option to fund your account via wire transfer or online wallets like Skrill, Paypal etc. or via your card. They are a MetaTrader broker, but offer cTrader platform also. Their platforms are available across all devices.

Our experience with their support was good. Read our in-depth IC Markets review. We gave them a lower rating because of high spreads. But the spread is very high with their spread only account types on average it is 1. So, for traders choosing lower account types at FXTM, the fees is quite high. The Swap fees at FXTM are moderate. The non-trading fees are higher than other brokers. They have very convenient funding methods including local bank transfer in ZAR with zero fees on deposits with this method.

But they charge extra fees on some withdrawal methods, like there is 1 USD fees for local bank transfer withdrawals in ZAR. read our in-depth FXTM review. In South Africa, you must check whether the broker is regulated by FSCA or not. Make sure to verify if the broker is approved for offering derivative instruments. You need to ensure that the broker that you are choosing is approved for offering derivatives trading.

So next time before choosing any broker, properly do your research, and check if the broker is regulated or not.

If the broker claims that it is regulated, then search the name of the broker on the websites of the Regulatory authorities: fsca. If the broker that you are about to trade with is not regulated or has a valid complaint against it or has been fined in the past for some bad practice, then its best to stay away from that broker.

Also, as another rule, never choose a broker that is not regulated with at-least 1 top regulator i. FSCA, FCA. CySEC or ASIC. If a forex broker is regulated by more than 1 of these major regulators then it is considered to be a low risk brokerage. So these brokers are considered to be low risk. It is also important to note that some brokers may register their clients under Offshore regulators for lesser compliance. Always ask your broker about the regulation under which your account will be opened.

Most good brokers will transparently answer this question. Another important point to note is that some forex brokers have fixed spread accounts, like Avatrade. But the spread at a Fixed spread broker like Avatrade remains the same as what is listed as the typical spread for every instrument on their website. The average spread is normally calculated over a period by the broker.

Also, the commission could vary depending on the CFD instrument. So you should check the total fees commission for the exact instrument that you want to trade because it is quite possible that the fees for that instrument is lower at another regulated CFD broker. HotForex mention their commissions with Zero account in ZAR as well for traders who have opened account ZAR as their base currency.

Their commission is R80 for majors, and R for other currency pairs. So, you should also check is the exact commission for currency pairs that you want to trade. As the commission could be higher for that instrument. For the same conditions the Swap Fees charged by HotForex is USD You should take this fees into account if you are going to hold your position overnight.

For example, FXTM charges an inactivity fee of 5 USD per month after 6 months of Inactivity. This fees will be deducted from your account balance. In the table below, we have compared the typical spread in pips of our 4 top rated forex brokers for their standard accounts according to the Contract Specification information on their websites :. Note: All 4 brokers compared above have variable spread, so the actual spread may be higher than the value listed in the above comparison table.

The actual live spread will fluctuate based on the market conditions. All 4 brokers listed in above comparison table have variable spread , so the actual spread may be lower or higher than their typical spread for an instrument. The actual spread is based on the Live market conditions. Another factor to consider is if the broker offers quick order execution speed.

Forex brokers either offer market execution or instant execution of orders. Most of the good brokers have a terms or trading conditions page on their website regarding their execution policy. You would agree, right? You should also carefully look into the withdrawal fees, because some brokers offer zero fees on deposits but charge high fees during withdrawals.

For ex. Your account base currency is the currency in which your trading deposits, profits are converted. Eg: If you choose ZAR as your base currency then all your account deposits, profits in your account with the broker with be held in ZAR South African Rand.

As per our research, there are a few forex brokers that offer ZAR account in South Africa i. with Rand ZAR as a base currency option for your trading account.

Brokers will generally display their account base currency options on their Account Types page. This is a really important consideration for South African traders, if you are looking to make local deposits and withdrawals in Rand. There are following advantages for have a ZAR forex account:. You should ask these questions these for starters: Is it available for Android, iOS? Is it fast to use? We have compared the best forex trading apps for South African traders based on 9 factors.

In general, a good app will have a lot more positive reviews than negative. Another important point to look for in the app is its security. There have been some brokers which experienced security issues. We tracked the support of every broker that we have listed here. Also, the live chat support at HotForex is responsive.

For ex: Avatrade offers customer support during their business hours only, so there may be high waiting time with them for support related issues. Also, there might be a few minutes of delay while connecting with chat support at some brokers. Normally, their replied in under 6 hours for emails sent to their support email. Their email support in some cases did not reply back to our emails, and when they did, it took a few days.

On average, we got a response to our email within days, but in some cases the responses were much more delayed. You should perform these tests over a period, so you can have the idea on how responsive their support is. Many traders now trade CFDs on metals, commodities, indices etc. Always check beforehand if the instrument that you want to mostly trade is not available at the broker or not.

Normally, brokers create separate pages for each type of CFD instrument like Forex, metals, indices, commodities etc. Other than forex, you should check if the broker offers NASDAQ or NAS , crypto CFDs, Gold CFDs etc. For example, many brokers like FXTM, OctaFX etc. Make sure to always check beforehand if all the trading instruments that you want to trade are provided by the broker. And check what fees the broker charges for the instrument you want to trade.

Another important thing is to compare the overall trading fees for trading each instrument. Some brokers charge high Swap fees for trading CFDs, and this will increase the overall costs if you are a Position Trader. In this case, you should look for a broker that preferably does not charge you Swap fees for overnight positions on CFDs for commodities, stocks etc. As a beginner in Forex Trading, you must look for a broker that offers a free demo account, is regulated with FSCA, and also offers good education material.

Ultimately this depends on your trading requirements, like the currency pair that you want to trade, your deposit methods, leverage requirements, if you require a raw spread ECN account broker etc. However, there are some general guidelines that you should check before depositing your money with any broker.

Always choose a broker that is regulated with top tier regulators like FCSA, FCA or ASIC. Another thing that matters is the spread, the lower the better. Also, check if your desired broker offers a platform of your choice. If your broker offers ZAR account, then it is a positive thing. For a start, you must only choose a broker that is regulated with a top tier regulator. But not every regulation is the same, as many brokers claim to be regulated, but are actually regulated with some Offshore regulators to avoid compliance.

So you should check with your broker, if they are regulated with respected regulations like: FCA, FSCA, CySEC or ASIC. We have also created this list of FSCA regulated forex brokers for South African traders. Almost all brokers add this information at the bottom section on their websites or their about pages.

Moreover, all the brokers that we have reviewed on our website are regulated with top regulators. Also, we have given links to their registration number in our reviews. Disclosure: We earn a commission if you Sign Up with a broker through referral links in this review. This helps us cover the expenses for running the website. We aim to help traders in South Africa find the best forex brokers. Read more.. Read full risk disclaimer..

za: 1 Forex Broker Comparison website in South Africa. All Rights Reserved, By Rahul Sharma Editorial Staff —. Overall Rating 9. Ranked 1 Forex Broker in South Africa. Tickmill Pros Tickmill is a regulated broker i. with Tier 1 regulator FCA. And also with FSCA, so considered safe. Fair spread with Classic account. Instant Deposits via online Bank Transfer in South Africa.

Withdrawal within 24 hours via Internet Banking in SA. Good Live chat support, but we experience a few seconds of hold time while connecting. Tickmill Cons No local phone number in SA for support. No ZAR Trading accounts.

Overall Rating 8. And 0. BDSwiss Pros The spread is competitive with Classic account, and it is from as low as 0 pips with Raw Account. Funding is free with all methods without any extra charges.

ZAR Base Currency Account is available. The support at BDSwiss is very responsive.

The types of forex brokers in South Africa revealed. We have carried out extensive research into compiling a list of the types of forex brokers in South Africa. A forex broker is a firm that is authorized or exempt by a national regulator to provide retail and professional clients with the capacity to purchase and sell foreign currencies through an online trading platform.

Your forex broker may offer you the base currency, a non-deliverable spot contract, or a derivative such as a contract for difference CFD. Read Review. Rated 1 of Recommended FX Brokers. Minimum Deposit. Islamic Account. Trading Fees. With innovative tools like AvaProtect, AvaTrade has established itself as a leading worldwide brand via its own trading platforms, AvaTrade WebTrader and AvaTradeGO.

Trading forex options on the go has never been easier than with the AvaOptions app, brought to you by Sentry Derivatives and available exclusively to AvaTrade customers.

As well as more than 1, CFDs, AvaTrade provides access to 44 currency options. With AvaSocial, ZuluTrade, and DupliTrade, AvaTrade is the Best in Class for in social copy trading. Rated 2 of Recommended FX Brokers. To those who open an ECN account with Exness, the spread is almost 0 pips. In South Africa, the Financial Sector Conduct Authority FSCA govern Exness, among other recognized bodies.

Traders in South Africa may open an Exness trading account with a South African Rand base currency and make deposits and withdrawals using local Internet banking. The broker does not assess the usual fees associated with inactive accounts. In addition to its free demo account, Exness also provides real money trading. If you establish an account in South African Rand ZAR , you will not be able to switch to US Dollars USD at a later stage. However, if you want to trade in a currency other than the one associated with your Exness account, you may do so through the Exness client panel.

Rated 23 of Recommended FX Brokers. FP Markets stands itself as an excellent broker for trading FX and CFDs at a moderate cost. FP Markets provides the MetaTrader platform and commission-based Raw ECN accounts with extremely low spreads. Over 12, different symbols are available for trading using the Iress platform package, which is made available by FP Markets.

When compared to other brokers, FP Markets is one of the most affordable options for traders throughout the world because of the commission-free ECN account it provides via the MetaTrader platform. Spreads on the Raw ECN account at FP Markets average under 0. Rated 6 of Recommended FX Brokers. The material mix at HFM is well-rounded, with an appropriate amount of original market research, commentary, and news articles from other sources.

Aside from its own mobile HF App, HF Markets is compatible with MetaTrader 4 MT4 and MetaTrader 5 MT5. As a broker, HFM has a solid reputation and follows all applicable rules and regulations.

The offering is straightforward and has a wide variety of currency pairs and CFDs to choose from. The prices are reasonable, and there is a helpful teaching centre for novice traders.

More than , active trading accounts have been established with HFM so far, and the company has received several accolades from the industry and the support of influential sponsors, including the titles of Best Clients Funds Security Broker, Best Forex Provider, Top Companies, etc. Rated 71 of Recommended FX Brokers. The FBS name may be found in more than a hundred different nations throughout the world. Margin foreign exchange FX and contracts for difference CFDs are offered by a group of separate businesses under the FBS brand name, which is dedicated to its customers.

With a long history of service, competitive spreads, and a comprehensive education centre, FBS is a solid option for traders. FBS is a reputable worldwide broker that offers a broad variety of trading options, including a crypto-only account, a standard account with no commissions, trading on over a hundred different cryptocurrency pairings, and a straightforward mobile trading platform.

Rated 32 of Recommended FX Brokers. FXTM is a forex and CFD trading platform that can be accessed online. FXTM is a well-regarded trading platform that also includes social trading capabilities. FXTM provides an exceptionally regulated platform and high-quality services overall.

FXTM is backed by a reputable name, extensive asset options, and stringent regulations. Rated 68 of Recommended FX Brokers. Since its inception in , XM has amassed a clientele from more than different countries and a support team fluent in 30 different tongues. XM Group is a MetaTrader-exclusive broker with a wealth of informative videos, podcasts, and articles available frequently.

As an added educational resource, XM provides a wide variety of webinars, publications, and Tradepedia courses. XM is a highly regulated broker with a stellar reputation. Rated 54 of Recommended FX Brokers. One of the most well-known CFD and FX brokers in the world, Pepperstone offers outstanding customer support, aggressive trading terms, and a transparent trading environment with guaranteed client money security.

In addition to having strong liquidity, quick trade execution, and exceptionally low spreads starting at 0. Additionally, Pepperstone makes use of some of the most innovative trading technologies to meet the demands and goals of all its customers.

Rated of Recommended FX Brokers. Axiory is a global foreign exchange FX and CFD broker that supports both the MetaTrader 4 and cTrader trading platforms.

Users with a Max account may use the free mobile app to mirror the trades of Master Traders. Leverage on Axiory can go as high as on the MAX account, on the Nano account, and on the Standard account. Rated 5 of Recommended FX Brokers. BD Swiss. BDSwiss accepts South African customers and offers an average spread of 0. BDSwiss offers a maximum leverage ratio of , along with a demo and Islamic accounts.

The platforms MT4, MT5, and BDSwiss are supported. BDSwiss is based in Seychelles and is governed by CySEC, FSC, BaFIN, and FSA.

BDSwiss is a global online trading broker with millions of clients. BDSwiss takes considerable pride in offering the most advantageous trading conditions, including innovative trading platforms and exceptional customer support. Rated 8 of Recommended FX Brokers. OctaFX is a reputable supplier of CFD and forex trading that has been in business since OctaFX is renowned for its trustworthy transaction execution in addition to its STP and ECN execution methodologies.

Offering a variety of retail investor accounts, OctaFX caters significantly to both novice and experienced traders in South Africa. OctaFX has two accounts for regular investors, both of which permit trading positions as little as 0. In addition, OctaFX provides low spreads and a variety of trading techniques for South African traders. OANDA is a well-known broker and trading platform that was founded in by a group of expert traders. The fact that OANDA is well-regulated by organizations like IIROC, ASIC, CFTC, NFA, FCA, FFAJ, JFSA, MAS, MFSA, and BVI FSC gives South Africans comfort that they are working with a respectable organization.

One of the finest advantages of OANDA is the availability of an Islamic Swap-Free account, which provides Muslim South African traders with exceptional trading conditions and benefits. Rated 3 of Recommended FX Brokers.

Tickmill is widely recognized as one of the top CFD brokers for South African traders, offering a secure and transparent trading environment. To provide its services in the area, Tickmill is governed by FSCA and other respected market regulators.

Tickmill provides South African traders with a variety of financial markets and trading options by offering CFDs on currency, equities, commodities, and indices. Rated 7 of Recommended FX Brokers. CM Trading. CM Trading is the brand name of Blackstone Marketing SA PTY LTD, one of the most creative Forex brokers in the world and the biggest broker in South Africa. In addition to its primary focus on the African continent, the firm provides a vast array of innovative trade solutions to an international and worldwide clientele.

With CM Trading you can access the market quickly and easily from your PC, online browser, and mobile device. If you are a beginner and new to online trading, you will discover a variety of helpful instructional resources. CMC Markets. CMC Markets is a broker that provides access to over 10, financial products on advanced, flexible, and user-friendly trading platforms. CMC Markets says that it is the exclusive venue for the execution of all customer orders.

Additionally, CMC Markets certifies that it does not manage an order book in which customer orders might supply or absorb liquidity. CMC Markets confirms that all client orders are completed at the best prices and fastest times possible. Rated 55 of Recommended FX Brokers.

Plus is an online trading broker that is authorized in many jurisdictions and provides access to over 2, CFD products through proprietary trading platforms. Plus places a premium on innovation, being among the first to introduce new trading products to satisfy consumer needs.

Plus utilizes the newest innovative trading technology to give customers free real-time quotations, narrow spreads, and commission-free trading. Trade Nation, a broker subject to many regulatory bodies, provides a novel method for trading online. Trade Nation, based in the United Kingdom, is an online retail broker that offers trading on both its own proprietary platform and the widely used MetaTrader 4 platform.

Trade Nation does not need a minimum deposit, so long as you have enough money to pay the margin on your trades. As one of the few companies in the world that allows its clients to trade with fixed spreads, they take this distinction extremely seriously. With this broker, you could take advantage of many payment options, round-the-clock assistance from knowledgeable agents, and spread rebates if you make enough trades.

Rated 20 of Recommended FX Brokers.

20 Best Forex Brokers in South Africa,Best South African Forex Brokers

AdRange of derivative investment platforms - 85% of retail derivative accounts lose money. Best Forex brokers review blnomo Olymp Addedicated support. Very safew to deposit and withdraw. View Video Tutorials. 24/7 Support. This trading platform will give you the freedom to trade. Ultra fast blogger.com has been visited by 10K+ users in the past month Ad$30 Forex No Deposit Bonus Scheme only be applied to one account per New Client & per IP. % Credit Bonus offer only applies to Micro, Premium, and Islamic account types ... read more

HotForex is our recommended choice for low cost forex broker in South Africa. Another important point to note is that some forex brokers have fixed spread accounts, like Avatrade. Plus Review. They offer variety of account types with many features including negative balance protection. South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance. As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy. Sign Up.

Unless you already have a significant portfolio and have taken massive risks and gotten lucky or have a highly detailed trading methodology, the odds of getting rich from forex trading are stacked against you: Year after year, the majority of traders consistently lose forex brokers south africans choose. In terms of fees, Tickmill has an average spread with their Classic Account, starting from 1, forex brokers south africans choose. Very low spread with Zero Account i. is regulated with CySEC. Exness offers ZAR base currency account option to traders in SA. Plus Cons They offer their own proprietary platform that is not available on desktop. The FBS name may be found in more than a hundred different nations throughout the world.