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.
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.
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.
Digital Currency Exchanger
Digital Currency Exchanger – DCE
Digital currency exchangers business is not about Forex and binary options trading. DCE is now becoming industry on its own.
Digital currency exchangers (DCEs, independent exchange providers or e-currency exchangers) are businesses that allow customers to trade digital currencies for other assets, such as conventional fiat money, or different digital currencies. They are market makers that typically charge fees or take the bid/ask spreads as transaction commissions for their services.
BREAKING DOWN Digital Currency Exchanger – DCE
Most commonly they provide a platform for setting buy or sell orders and charge a small fee for the service. Trades are instant and the exchanger stores the digital currency until withdrawal. GDAX, Gemini and Poloniex are among the biggest digital currency exchangers and offer this service.
Another less common business model is connecting the buyer and seller and by providing a platform for P2P trading. A seller creates an ad on the platform and specifies accepted payment methods and price. A P2P trading platform enables the buyer to accept a wider range of payment methods. P2P trade typically requires more time as the exchanger does not store both parties’ funds. As the price of digital currencies is highly volatile, the spread is usually bigger in P2P-trades. The exchanger charges a fee for advertisement or a transaction commission. Localbitcoins and Paxful are two well known P2P digital currency exchangers.
Digital currency exchangers may also hold funds themselves. The exchanger buys and sells from their own stock of digital currencies and FIAT. Commonly exchangers profit from the spread between the buy and sell price. Because the trade only involves 2 parts, this method enables the exchange to set any price they want. This kind of exchanger is the most expensive one but is often very simple to use. Without a third party, exchangers can offer better customer service and guarantees. CEX and Coinbase are the biggest digital currency exchangers that hold funds themselves.
2023-05-25 • Updated