Start with Walmart and ask any successful company that trades in commodities: "If your trade volume is low in a worldwide market of a certain commodity, can your volume be increased by charging the highest markup in the world?" The answer is obvious to a school child.

That's what FYB is doing though - charging top-level markup on a transaction in a widely available commodity. If they want more volume, it's exactly the wrong thing to do.
It's so wrong to do from a business perspective, it makes me wonder if FYB is actually a Singapore government honeypot, which they hope to use to keep track of local btc flow. 
If it's not, we've seen a lot of "exchanges" like that come and go in bitcoin land.