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2011 in facts!!! Dear traders! FBS has been confidently moving forward in 2011. We have been doing our best for you, our dear clients. Today we’d like to tell about the achievements of this year and we do have something to be proud of! FBS opened 3 representative offices in South-East Asia in 2011: • Malaysia - Kuala Lumpur • Indonesia - Jakarta • China – Shanghai Over 50000 people from 33 countries of the world joined FBS this year. An anniversary trading account number 100000 was opened in November by a client from Indonesia. Our reliability and perfect reputation has been proven again by world-known financial agencies. FBS was twice awarded Best Mini Forex Broker in 2010 and 2011. FBS ran a number of interesting contests for our traders with valuable prizes: • FBS Green Drive contest winner received an Audi A4 car from FBS • “Miss FBS” beauty contest winner is Shorena Gulashvili from Georgia • “999 demo contest” attracts more and more participants every time. Over 200000 traders took part in it in 2011. FBS top priority is clients’ funds safety. We are the first broker in the world to offer you 100% Breakeven Trading Guarantee. In FBS you can insure your deposit from losses now. We confidently look forward into the future and work on a lot of new exciting surprises for you in 2012! We wish you even more finance, freedom and success in 2012. Thank you for trading with FBS! FBS wishes you Finance,Freedom and Success in trading! (Best mini Forex Broker of 2010 - 2011) Stay connected with FBS because its all about you!

Free Forex courses in Malaysian office!!! Dear traders! FBS Malaysian Training Centre (FBS-MTC) provides FREE Forex trading courses for beginners! Every trader with an active FBS trading account (with minimal 10 USD deposit) is eligible to register. Courses will be held every Thursday starting in January 2012 in FBS-MTC. Please contact for booking and detailed information: Mobile: +60.12.799.1752 Office: +603.2106.2578 FBS wishes you Finance,Freedom and Success in trading! (Best mini Forex Broker of 2010 - 2011) Stay connected with FBS because its all about you!

"UBS: euro’s unlikely to rebound"(2011-12-29) Analysts at UBS give several reasons why they think that the single currency won’t be able to rebound at the beginning of 2012 as it has done this year gaining several thousands of pips. 1. The ECB is likely to cut rates to a new historic low of 0.50% and might well then embark on outright QE. 2. Greek PSI will last till March 20. However, revenue shortfalls due to the deeper-than-forecast recession may result in additional financing needs, which in the absence of new official money might mean a larger haircut and hence the need of more PSI. 3. If Greece is forced to impose an involuntary restructuring on investors, the crisis will spread to other problem economies – Portugal, Spain and Italy. The measures conducted by the European authorities are arguably not yet powerful enough to stop the contagion. 4. The above Greek scenario would result in Greece’s default. This will trigger credit default swaps (CDS) which imply payouts of more than 80 billion euro. This alone would make the market highly stressed. 5. High possibility of resistance to ESM ratification in some countries as well as more serious social unrest in both debtor and creditor nations. Comment here http://www.fbs.com/analytics/2011-12-29/16335-ubs-euros-unlikely-rebound

"ECB balance extended to the record maximum"(2011-12-29) The pair EUR/JPY fell to 10-year minimum at 100.30 yen, the pair EUR/USD dropped to the minimal level since January at $1.2887. Investors are concerned that European Central Bank will inject more cash into the financial system to avoid a credit crunch from the region’s debt crisis. The ECB announced yesterday that after last week’s lending to the euro zone’s banks its balance sheet climbed to the record level of 2.73 trillion euro. Analysts at Westpac think that euro will stay under pressure due to the signs of more formal quantitative easing. Comment here http://www.fbs.com/analytics/2011-12-29/16333-ecb-balance-extended-record-maximum

"999" contest results December 26, 2011 !!! Dear traders! On the 23rd of December “999” demo contest was over. Today we are pleased to announce its results. Ukraine is the undisputed leader of the contest, because first two places of the list of contestants are taken by Ukrainian traders. 1 place– is given to a contestant with account number 210836. Her balance reached 800190.56 USD by the end of the contest. A trader gets 555 USD from FBS. 2 place– is taken by a contestant with 207815 account number and 620195.28 USD balance. The participant receives 333 USD on his trading account. 3 place– is taken by a trader from China with 210782 account number and 587670.85 USD balance. He gets 111 USD from FBS. Honourable 1781st place is taken by a participant from Russia with contest account number 210649. As a special encouraging prize we grand him with a free FBS Master Card. FBS congratulates the winners and thanks all the participants for the intensive trading and unquenchable will to win. We are happy to inform you that registration for the next “999” Contest starts in early January. Next year many exciting surprises are waiting for you. Don’t miss your opportunity to enjoy trading with FBS and get worthy prizes for it. Contest rules: http://www.fbs.com/contest/999 Contestants ranking: http://www.fbs.com/contest/999/participants FBS wishes you Finance,Freedom and Success in trading! (Best mini Forex Broker of 2010 - 2011) Stay connected with FBS because its all about you!

"The FOMC will become dovish the next year"(2011-12-23) The Federal Open Market Committee is expected to become more dovish due to the annual rotation. As a result, the Federal Reserve Chairman Ben Bernanke will get chance to pursue his active loose monetary policy if he thinks that American economy needs help. The FOMC consists of 12 members – 7 Fed board governors and the president of the New York Federal Reserve Bank have – permanent vote, while the 4 remaining seats are shared by the other 11 FRB presidents which change places on the annual basis. This year 3 out of the 4 rotating seats was occupied by the hawks – Richard Fisher, the president of the Dallas Federal Reserve Bank, Charles Plosser of Philadelphia, Narayana Kocherlakota of Minneapolis. That means that these policymakers don’t think that monetary policy can be used to stabilize economic conditions and would prefer setting long-term target for inflation. Doves, on the other hand, believe that the central bank has to keep interest rates low to support the national economy. Fisher, Plosser and Kocherlakota voted against the pledge to keep short-term rates close to 0 until the middle of 2013 and against the Operation Twist. The old distinction, with hawks concerned about inflation and doves worried about weak growth, has subsided over the past 20 years. Fed officials agree that keeping inflation low and stable is a necessary precondition of good economic performance. This year, a “tough group” of hawks occupied. These officials had little sympathy for the Fed’s innovative efforts to try to lower long-term interest rates, said Brian Bethune, a Fed expert at Amherst College in Massachusetts. In 2012, the Fed is losing 3 hawks and only getting one: Jeffrey Lacker, the president of the Richmond Fed. The other 3 new members: John Williams, the president of the San Francisco Fed, Dennis Lockhart, the president of the Atlanta Fed, Sandra Pianalto of Cleveland are viewed as more consensus-minded and likely to vote with Bernanke. Comment here http://www.fbs.com/analytics/news_markets/view/11506

"The FOMC will become dovish the next year"(2011-12-23) The Federal Open Market Committee is expected to become more dovish due to the annual rotation. As a result, the Federal Reserve Chairman Ben Bernanke will get chance to pursue his active loose monetary policy if he thinks that American economy needs help. The FOMC consists of 12 members – 7 Fed board governors and the president of the New York Federal Reserve Bank have – permanent vote, while the 4 remaining seats are shared by the other 11 FRB presidents which change places on the annual basis. This year 3 out of the 4 rotating seats was occupied by the hawks – Richard Fisher, the president of the Dallas Federal Reserve Bank, Charles Plosser of Philadelphia, Narayana Kocherlakota of Minneapolis. That means that these policymakers don’t think that monetary policy can be used to stabilize economic conditions and would prefer setting long-term target for inflation. Doves, on the other hand, believe that the central bank has to keep interest rates low to support the national economy. Fisher, Plosser and Kocherlakota voted against the pledge to keep short-term rates close to 0 until the middle of 2013 and against the Operation Twist. The old distinction, with hawks concerned about inflation and doves worried about weak growth, has subsided over the past 20 years. Fed officials agree that keeping inflation low and stable is a necessary precondition of good economic performance. This year, a “tough group” of hawks occupied. These officials had little sympathy for the Fed’s innovative efforts to try to lower long-term interest rates, said Brian Bethune, a Fed expert at Amherst College in Massachusetts. In 2012, the Fed is losing 3 hawks and only getting one: Jeffrey Lacker, the president of the Richmond Fed. The other 3 new members: John Williams, the president of the San Francisco Fed, Dennis Lockhart, the president of the Atlanta Fed, Sandra Pianalto of Cleveland are viewed as more consensus-minded and likely to vote with Bernanke. Comment here http://www.fbs.com/analytics/news_markets/view/11506

Merry Xmas and Happy new year 2012 from FBS team !!! As the Holiday Season is upon us, we find ourselves reflecting on the past year and on those who have helped to shape our business in a most significant way. We value our relationship with you and look forward to working with you in the year to come. We wish you a very happy Holiday Season and a New Trading Year filled with pips and prosperity. Regards FBS FBS wishes you Finance,Freedom and Success in trading! (Best mini Forex Broker of 2010 - 2011) Stay connected with FBS because its all about you!

Merry Xmas and Happy new year 2012 from FBS team !!! As the Holiday Season is upon us, we find ourselves reflecting on the past year and on those who have helped to shape our business in a most significant way. We value our relationship with you and look forward to working with you in the year to come. We wish you a very happy Holiday Season and a New Trading Year filled with pips and prosperity. Regards FBS FBS wishes you Finance,Freedom and Success in trading! (Best mini Forex Broker of 2010 - 2011) Stay connected with FBS because its all about you!

"Add FBS as Friend": winner of the week(22 Dec 2011)!!! Dear Friends! Correct answer for our weekly “Add FBS as Friend” contest is: 22 USD. The winner who gets 10 USD from FBS to his trading account is Shorena Gulashvili. Kind regards, FBS FBS wishes you Finance,Freedom and Success in trading! (Best mini Forex Broker of 2010 - 2011) Stay connected with FBS because its all about you!

"Citigroup: warning for USD bulls"(2011-12-22) Currency strategists at Citigroup say that US economic data has so far been surprising the markets in a positive way referring to the recent labor, housing and trade figures. As a result, the Economic Surprise Index designed by the bank has risen from the record minimum in June almost reaching the record maximum at present. According to Citigroup’s experience, the upside moves of the index correspond to US dollar’s selling periods. It happens as the market becomes more optimistic and risk sentiment improves making the demand for US currency decline. The analysts don’t think that dollar will weaken this year as many traders have already closed their books for the year and others may be reluctant to take on big new positions right before the end of a quarter. At the beginning of 2012, however, if the economic data remains favorable, investors may decide that they have overestimated the negative effects of the euro zone’s crisis on the global economy. “The surge in data flow itself may be insufficient to reverse recent risk aversion, but it does suggest that dollar’s weakness could reassert itself more quickly and forcefully than many anticipate once conditions settle down,” says the bank. CESI chart may be found here. Comment here http://www.fbs.com/analytics/news_markets/view/11498

"Japan: government revised economic forecasts"(2011-12-22) Japanese government reduced forecast for the nation’s real GDP growth in 2012 fiscal year which begins in April from 2.7%-2.9% to 2.2% (y/y). The estimate of this year’s growth were lowered from +0.5% to -0.1%. As the reason of the revision the officials cited negative impact of the yen's appreciation and the ongoing sovereign debt crisis in the euro area. At the same time, the next fiscal year Japan’s economy is expected to “recover moderately” on the assumption that the global situation starts improving. Consumer prices will add 0.1% in fiscal 2012 (y/y) after showing declines in the previous three years, says the government. In fiscal 2011 CPI will drop by 0.2% (previous forecast was the 0.2% rise). Comment here http://www.fbs.com/analytics/news_markets/view/11495

"St. George: 2012 forecast for AUD/USD"(2011-12-22) Analysts at St. George believe that although Australian dollar will be affected in 2012 by the euro zone’s problems and potential slowdown in China, it will fall, but not much. The specialists note that Aussie has shown greater resilience during bouts of risk aversion this year in comparison to previous episodes of risk aversion due to its strong underlying fundamentals. The bank expects AUD/USD to trade around $1.0000 in March, in the $0.9900 area in June and near $1.0100 at the end of 2012. Chart. Daily AUD/USD Comment here http://www.fbs.com/analytics/news_markets/view/11494

"BBH: euro will decline to $1.24"(2011-12-21) - Italy's government will hold confidence vote on austerity in Senate around 2 p.m. GMT: the lawmakers are set to give final approval today to Prime Minister Mario Monti’s 30 billion-euro ($39 billion) emergency budget plan, including a pension overhaul and a levy on primary residences. The draconian austerity measures will affect the nation’s weak economy. Data released yesterday showed that Italy’s GDP shrank contracted by 0.2% in the third quarter after 0.3% growth in the previous 3 months. The government forecasts contraction in the fourth quarter, 0.6% growth in 2011 and a 0.4% contraction in 2012. - European Central Bank President Mario Draghi speaks today in Frankfurt after a meeting of the European Systemic Risk Board which begins at 4 p.m. GMT. Yesterday the ECB made the region’s banking sector a Christmas present – the central bank lend a record sum of 489 billion euro ($638 billion) to 523 euro-area banks in 3-year loans. That was the first of ECB’s LTROs announced on December 8. The second one will be allotted on February 29, 2012. According to Goldman Sachs, the borrowings equal about 63% of the European bank debt maturing in 2012. The majority of analysts argue that the ECB’s move won’t be efficient as the region’s banks can decide on their own where to invest the obtained funds and they aren’t very likely to invest in the peripheral debt. Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/news_markets/view/11490

- Italy's government will hold confidence vote on austerity in Senate around 2 p.m. GMT: the lawmakers are set to give final approval today to Prime Minister Mario Monti’s 30 billion-euro ($39 billion) emergency budget plan, including a pension overhaul and a levy on primary residences. The draconian austerity measures will affect the nation’s weak economy. Data released yesterday showed that Italy’s GDP shrank contracted by 0.2% in the third quarter after 0.3% growth in the previous 3 months. The government forecasts contraction in the fourth quarter, 0.6% growth in 2011 and a 0.4% contraction in 2012. - European Central Bank President Mario Draghi speaks today in Frankfurt after a meeting of the European Systemic Risk Board which begins at 4 p.m. GMT. Yesterday the ECB made the region’s banking sector a Christmas present – the central bank lend a record sum of 489 billion euro ($638 billion) to 523 euro-area banks in 3-year loans. That was the first of ECB’s LTROs announced on December 8. The second one will be allotted on February 29, 2012. According to Goldman Sachs, the borrowings equal about 63% of the European bank debt maturing in 2012. The majority of analysts argue that the ECB’s move won’t be efficient as the region’s banks can decide on their own where to invest the obtained funds and they aren’t very likely to invest in the peripheral debt. Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/news_markets/view/11490

"GBP/USD: MPC minutes and technical comments"(2011-12-21) Bank of England Monetary Policy Committee members voted unanimously at their December meeting to keep policy unchanged as uncertainty over the economic outlook remained high. All nine members of the MPC voted to continue with the current 275 billion pounds of asset purchases and to leave the benchmark interest at 0.5%. Divisions on the MPC remained over the outlook, with some members saying the November Inflation Report projections meant more quantitative easing was likely to be needed. UK Borrowing turned out to be lower than expected in November: 18.1 billion pounds versus the forecast of 19.6 billion. Although UK central bank left door open for more easing in February, pound strengthened versus the greenback. GBP/USD tested the levels in the $1.5773 zone. Support for British currency is situated at $1.5650. Watch the bullish “double bottom” pattern: it will be confirmed if sterling overcomes resistance in the $1.5768/77 area. Comment here http://www.fbs.com/analytics/news_markets/view/11486

Christmas and New Year holidays schedule!!! Dear traders! As usual due to the Xmas and New Year celebration the schedule of trading and trading conditions will be changed. Please make sure to read it and modify your trading accordingly. *Holidays schedule: Friday, December 23, 2011 – trading is closed at the usual time Monday, December 26, 2011 — trading is opened at 09:00 (GMT+2, terminal time) Friday, December 30, 2011 — trading is closed at the usual time December 31, 2011 — January 1, 2012: New Year's Holiday Monday, January 2, 2012 — trading is opened at 03:00 (GMT+2, terminal time) *Customer and Financial departments operate as usual. In case the usual market schedule changes, FBS has the right to make amendments. Due to traditionally low liquidity and high market volatility from 26th of December 2011 to 2nd of January 2012, it can lead to the increase of margin requirement to 1:100, spread widening, the increase of pending orders level (Stop & Freeze Levels). Trading some instruments can be closed in this period of time. FBS recommends to hold margin level no less than 500% and, if possible, to reduce market total position. Merry Christmas and a Happy New Year ! FBS wishes you Finance,Freedom and Success in trading! (Best mini Forex Broker of 2010 - 2011) Stay connected with FBS because its all about you!

Just 2 Days left for the ending of 999 Demo Contest !!! 6th season of the great 999 contest is almost at its peak stage, we are hoping for a marvelous entertaining outcome. If we look at the table now, first two places holding by Ukrainian traders(Account#210836)(712099.19 USD)(Account#207815)(571991.42 USD) meanwhile 3rd place secured by Irani trader(Account#211467)(427527.90 USD). It seems Ukrainian traders took more interest in this contest as compare to other parts of the globe, we are hoping for a healthy competion and happy ending of this contest. We wish you all best of luck in the contest.But dont forget, that unpredictable changes can always happen, so all the participants have the chance to win! wishes you good luck!. Regards, FBS Holdings Inc. Account#210836 Position: 1st Country: Ukraine Balance: 712099.19 USD Account#207815 Position: 2nd Country: Ukraine Balance: 571991.42 USD Account#211467 Position: 3rd Country: Iran, Islamic Republic of Balance: 427527.90 USD Check other contestants ranking Go to the scoreboard: http://www.fbs.com/contest/999/participants?type=cur We are expecting a dynamic and exciting competition with a lot of surprises ahead. We wish good luck to all the participants! FBS wishes you Finance,Freedom and Success in trading! (Best mini Forex Broker of 2010 - 2011) Stay connected with FBS because its all about you!

"NAB: forecast for AUD/USD in 2012"(2011-12-20) Analysts at National Australia Bank believe that Australian dollar will be fluctuating in 2012 between $0.9000 and $1.0500 versus its US counterpart. The specialists note that the pair AUD/USD, which has set this year’s maximum at $1.10 on July 27, will be capped by this level during the next year. According to the bank, in the first quarter of 2012 Aussie will drop to the $0.9600 zone as the global growth prospects deteriorate and then stay around parity in the second half of the next year. In the worst case, if some European nation defaults and the euro zone falls into recession making the global economy contract as well, AUS/USD will drop to $0.8500. Chart. Daily AUD/USD Comment here http://www.fbs.com/analytics/news_markets/view/11479

"BofA: sell EUR/USD on the rallies"(2011-12-20) Technical analysts at Bank of America believe that the single currency may fall to 1-year minimum versus the greenback at $1.2510 (last visited in July 2010). The specialists make such forecast as on December 14EUR/USD went below October minimum at $1.3145 sliding to $1.2945. In their view, support in the $1.2901/2859 area will be the last obstacle ahead of $1.2533. In their view, the pair is with no doubts trading within the downtrend. The analysts note that as the market's sentiment about euro is extremely bearish, short squeezes are possible and the pair has chances to rise to $1.3250. At that point Bank of America recommends opening short positions. Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/news_markets/view/11477

"December 20: news and data to watch"(2011-12-20) News: RBA meeting minutes (full text here): -comments are less dovish than expected; -Australian economy will keep expanding even though euro zone’s debt crisis has a negative impact on the global economic growth. So, RBA rate cuts in the near future are unlikely. Australian dollar has managed to gain a bit on the news rising from $0.9890 to $0.9950. UK consumer confidence improved in November (40 vs. 36 in October). Watch today: Germany: Ifo Business Climate (decline is expected); Spain: 3- and 6-month bills auction; The ECB begins longer-term refinancing operation (LTRO) in which banks can borrow unlimited funds in return for eligible collateral, including euro-region government bonds. The banks will be able to decide what to do with the funds on their own. The single currency may find some support in the short term as the LTRO may provide a new source of demand by banks for euro-zone sovereign debt. Comment here http://www.fbs.com/analytics/news_markets/view/11468

"December 19: new trading week starts"(2011-12-19) Weekly GBP/USD British pound keeps gradually moving down versus its US counterpart though it still managed to hold above November lows. Tenkan-sen and Kijun-sen are going sideways (1, 2), while bearish Ichimoku Cloud retains its side (4) – the signs that the consolidation is likely to continue. On the upside, sterling is capped by the strong resistance provided by the Turning line (1), the Standard line (2) and Senkou Span “B” (3). On the downside, the prices are supported by November and October minimums. Chart. Weekly GBP/USD Daily GBP/USD At the beginning of the last week GBP/USD breached Tenkan-sen (1) and consolidated below this line which is currently action as a resistance. It’s necessary to note that here as well as on the weekly chart the Turning and the Standard lines (1, 2) are horizontal that means the trend is flat. The Ichimoku Cloud has so far rather often changed its mode and is thin so that it can’t be viewed as a serious obstacle, though to get to Kumo the prices will need to overcome Tenkan-sen (1) and Kijun-sen (2). In addition, descending Cloud has recently begun widening showing that the bears become stronger. Pound’s likely to stay below Tenkan-sen. Chart. Daily GBP/USD Comment here http://www.fbs.com/analytics/news_markets/view/11465

Current update of Demo 999 Contest!!! As of today, here are the results: So the leader so far is a contestant from , Ukraine account number 210836 (balance: 625800.20 USD), 2nd place is taken by a contestant from Ukraine, account number 207815 (balance: 520910.13 USD) and in the 3rd place there is a contestant from China, account number 210782 (balance: 506973.71 USD). Account#210836 Position: 1st Country: Ukraine Balance: 625800.20 USD Account#207815 Position: 2nd Country: Ukraine Balance: 520910.13 USD Account#210782 Position: 3rd Country: China Balance: 506973.71 USD Check other contestants ranking Go to the scoreboard: http://www.fbs.com/contest/999/participants?type=cur We are expecting a dynamic and exciting competition with a lot of surprises ahead. We wish good luck to all the participants! FBS wishes you Finance,Freedom and Success in trading! (Best mini Forex Broker of 2010 - 2011) Stay connected with FBS because its all about you!

Happy Weekend from entire FBS team!!! FBS wishes you Finance,Freedom and Success in trading! (Best mini Forex Broker of 2010 - 2011) Stay connected with FBS because its all about you!

"Danske Bank: outlook for 2012"(2011-12-16) Analysts at Danske Bank shared their expectations about global economic development in 2012. The specialists advance several assumptions: - Concerns about recession are exaggerated – an overly negative economic and financial outlook is priced into financial assets; - The world’s central banks will keep easing monetary policy; - Euro zone crisis will continue, though the currency union won’t break up; - Volatility will remain high; - US dollar will experience structural weakness; - Currency interventions will continue. Danske give several arguments against euro zone’s break-up: - It’s consequences would be worse than those of Lehman Brothers’ collapse; - The costs of the break-up would be enormous both peripheral and core economies4 - The single currency is secured by political support as most of the member nations seem ready to give up more sovereignty. The strategists, however, don’t rule out the possibility that the euro area may split, the exit would be very risky and potentially very costly for any country. As for US dollar’s structural weakness, the analysts note that the greenback has been steadily depreciating during the last decade (with only a few interruptions like due to the introduction of the homeland investment act in 2005 and the global financial crisis in 2008). Among the reasons of such USD dynamics the specialists cite: - Euro’s initial strong undervaluation versus the greenback; - America’s persistent current account deficit; - Rising commodity prices; - On average easier monetary conditions. In the absence of a global recession the dollar will lose to stronger currencies, such as Australian, New Zealand’s and Canadian dollars. The Dollar Index may decline in such case by about 4%, though not more as Danske isn’t bullish on riskier assets, but expects weak US fundamentals to drive a dollar depreciation trend in a “normal” risk environment. As for EUR/USD, the analysts see the pair below $1.30 during the next few months until the market prices in new ECB monetary policy regime and then rebound end 2012 higher. Comment here http://www.fbs.com/analytics/news_markets/view/11459