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FBS Broker Suspended Their Operation In INDIA & CHINA!

         FBS is a reputed international trading broker that operates in 150 countries including India and China, they held 40+ international awards and they provide excellent 24/7 support, faster execution on trades and withdrawals. Recently they strongly built up their platform with Cryptocurrency feature.

Okay, enough of their history and reputations. Let's talk about our current situation.

        At present in India, the FBS broker is suspended on June 13th. So, the traders neither open new trades nor deposit new funds. When I talked to the customer care representatives, they informed me that "FBS company is facing issues on the side of payment methods providers in India" so they suspending both Web and Mobile FBS personal area, FBS mobile applications, FBS CopyTrade facility, Social trading app and whatsoever written as FBS with a green background (^_^).

The customer care rep's statement seems to be sceptical because, in Digital Payments System, INDIA is ranking No.1 in the entire world with the transaction being above 25000 Million and surpassing China. So the banking system is completely functioning well, no doubt about this.

In June, 13th. India's retail inflation eases to 7.04 per cent in May from 7.79 per cent in April but nowhere near RBI's upper band of 6% then followed by the Indian Sensex crashing 1400 points, Nifty ended near 15800 and all sectors were on red alert. Then the major distressing info is INR falls to an all-time low of ₹77.93 against the U.S. dollar on the same day. Last but not least the Wholesale Price Index (WPI) - food inflation clinched to 10.89% (8% in May 2022).

By seeing the above conflicting information on the same date. Now you can understand why it is suspended in India. I had around 350$ in my FBS account, when I try to withdraw via IMPS it doesn't work then I tried to pull out via my bank account thru a debit card again it simply spitted on my face saying rejected! Again, I contacted the customer care rep's they sent me the below picture.

Sticpay, PerfectMoney, and Globepay are not easy to signup quickly, it will take a decade to finish the registration completely. I had an account in Neteller/Skrill already, so I moved my funds to Neteller and then withdrew them to my bank account. They charged me around 20$ overall.

So, what's next for the Traders?

"Traders Never Quit" let's find another broker. I jumped to EXNESS broker right now.

 

Suresh Umapathy (Dooly) 
Contact: Telegram / WhatsApp

 

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