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How to withdraw the money you earned with FBS?
The procedure is very straightforward. Go to the Withdrawal page on the website or the Finances section of the FBS Personal Area and access Withdrawal. You can get the earned money via the same payment system that you used for depositing. In case you funded the account via various methods, withdraw your profit via the same methods in the ratio according to the deposited sums.
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How to open an FBS account?
Click the ‘Open account’ button on our website and proceed to the Personal Area. Before you can start trading, pass a profile verification. Confirm your email and phone number, get your ID verified. This procedure guarantees the safety of your funds and identity. Once you are done with all the checks, go to the preferred trading platform, and start trading.
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How to start trading?
If you are 18+ years old, you can join FBS and begin your FX journey. To trade, you need a brokerage account and sufficient knowledge on how assets behave in the financial markets. Start with studying the basics with our free educational materials and creating an FBS account. You may want to test the environment with virtual money with a Demo account. Once you are ready, enter the real market and trade to succeed.
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How to activate Level Up Bonus?
Open Level Up Bonus account in web or mobile version of FBS Personal Area and get up to $140 free to your account.
Transaction, profit, loss. Types of orders
The decision to buy or sell the currency pair depends on your expectations of the future price. If you think that EUR/USD will rise, you buy the pair or, in other words, open a long position on this pair. If you think that the EUR/USD will fall, you sell the pair or, as traders say, open a short position on this pair. As some time passes and the price of EUR/USD changes, you close the position and get the profit if the price changed in line with your expectations. If the price moved in the opposite way, you have a loss on this transaction.
To perform these operations, you need to place orders – give special commands to your broker in the trading terminal. There are several different types of orders, the main are market orders, pending orders, take profit orders and stop loss orders. Let’s see what are their functions.
Market orders – buy and sell – are designed to open positions at the current market price. The position will be opened immediately after you place such order. Pending orders, on the other hand, allow you to choose entry levels in advance. In this case, the trade will automatically open once the price level that you have chosen is reached, and you won’t need to be in front of the monitor when it happens.
If you think that the price of the currency pair will rise and then reverse to the downside, place Sell Limit above the current price. If you expect the currency pair to decline and then reverse to the upside, place Buy Limit below the current price. If you think that selling will intensify once the price breaks a certain level on the downside, place Sell Stop below the current price. If you expect that buying will intensify once the price breaks a certain level on the upside, place Buy Stop above the current price.
In order to close profitable positions, use an order type called Take Profit. In order to close unprofitable position use Stop Loss order. For example, you enter a stop order 50 pips away from your entry point. As soon as the market moved 50 pips against you, your stop order would automatically close you out of that trade protecting you from losing more than 50 pips.
2023-03-13 • Updated
Other articles in this section
- Economic Calendar: How to Read and Use
- How to open and close a trade in MetaTrader?
- How Much Do You Need to Start Trading Forex
- Forex Demo Account
- How to determine position size?
- Leverage and Margin: How Can You Use Them in Forex Trading?
- What Are Rollover and Swap and How to Use Them When Trading?
- When is Forex market open?
- Bid-Ask Spread
- Calculating profits
- What are Lots, Points, and Leverage
- How to trade?
- Currency Pairs in Forex Trading
- Technical trading tools you need to explore Forex market
- The Advantages and Risks of Trading Forex
- What Is Forex
