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 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.
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 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.
Fill or kill
Fill or kill
What Is Fill or Kill (FOK)?
Fill or kill (FOK) is a conditional time-in-force order used to trade stocks, forex, metals, and energies. When a trader/investor uses this type of order, a broker must immediately execute an entire order or cancel it. Partial closing or opening of a position on a FOK order is not allowed. The order can be executed only in the stated volume. A FOK is essentially an all-or-none (AON) and immediate-or-cancel order (IOC) combined.
Understanding Fill or Kill
Traders use Fill or Kill (FOK) orders to ensure that the whole order gets executed in the shortest period. If the trader uses another type of order, it might take a long time to pack the entire position. Therefore, large quantity non-FOK orders can cause price changes or market disruption due to prolonged execution. That is why market members who trade with a large capital prefer using the Fill or Kill type of order.
Fill or kill order vs. Immediate or cancel order
However, the fill-or-kill type of trade does not occur very often. Instead, traders prefer using "immediate or cancel" (IOC) or "good till canceled" (GTC) type of orders. IOC allows filling a part of the order immediately. GTC keeps the order open until a position is filled at a special price.
Fill or Kill Example
Assume a trader wants to open a long trade of lots in XAU/USD at $1800 per lot. A FOK order should be placed if the trader wants to purchase 1000 lots immediately, and no fewer, at $1800 (or lower). If a broker can sell 1000 lots of XAU/USD for $1800 per lot or less, the order will be filled. On the other hand, if a broker does not have 1000 lots of XAU/USD or does not want to sell them for $1800 or cheaper, the order will be killed.
2022-04-19 • Updated