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.
NFP (Non-Farm Payroll)
What is the Non-Farm Payroll (NFP)?
Non-farm payrolls are monthly statistics showing the change in the employees’ number for the previous month. They may also be known as non-farms or NFPs. The NFP gets its name from jobs that aren’t included: agricultural workers and those employed by private households or non-profit organizations.
The data is usually released on the first Friday of any month and can significantly impact multiple markets. Check еconomic calendar in order not to miss it. The NFP consists of three parts of news releases:
- NFP numbers: how many new jobs were created/lost
- Unemployment rate: total unemployment rate
- Average Hourly Earnings: change in the price that enterprises pay for labor.
Why is it important?
For the Federal Reserve, employment is a huge factor to rely on. When employment is high and in good economic health, politicians pursue a contractionary monetary policy with high interest rates. Thus, if the unemployment rate is higher than usual, the economy is considered to be operating below its potential and politicians will try to stimulate it. An expansionary monetary policy entails lower interest rates and lowers the demand for the dollar (money flows out of the low-yield currency).
For Forex traders, NFP is definitely an occasion. They follow it to see how the USD pairs (EURUSD, AUDUSD, USDJPY, USDCHF, GBPUSD, and others) react. Gold is also a popular asset to trade on NFP results.
Let’s see how volatile Forex market can be after the NFP release. The expected NFP results as of January 7, 2022 were 426,000 (jobs added), the actual result was disappointing with only 199,000 jobs added. As a result, volatility increased, and the dollar index lost around 500 points.
How to trade on NFP release?
If NFP is higher than expected, the USD will rise. If NFP is lower than expected, the USD will fall. The unemployment rate situation is the opposite: the lower the indicator, the better for the US currency.
2022-11-22 • Updated