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 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 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.
What is Swap?
Swap is the amount of money you receive or pay for holding a position overnight. It is formed based on central banks’ interest rates of those countries whose currencies you trade. Swap can be positive or negative.
How does it work?
When buying the EUR/USD currency pair, you borrow USD to buy EUR.
Let’s suppose the Federal Reserve interest rate is 1.5%, and the rate of the European central bank is 0.5%.
If you borrow $100,000 from the Central Bank of America to deposit €95,000 to your account in the Central Bank of Europe, then each time transferring positions through midnight you'll pay 1.5% rate for your loan in the Central Bank of America and receive 0.5% interest on your deposit in the European Central Bank.
0.5% (you receive) – 1.5% (you pay) = -1%. It means that you will have to pay the fee for holding a position overnight.
In the case you borrowed the currency with a lower interest rate comparing to the currency in what you invested, you would receive this fee on your account every night while you hold a position.
However, not all traders can get or pay such a fee. That’s why FBS offers swap free option.
What is Swap Free?
Swap Free is an option to have an account free from fees. It means you will neither receive nor pay the swap (fee).
Who can have this option?
According to the Islamic faith, Muslim traders are prohibited to receive or pay interest. This service is for them.
Is Swap Free service available for all trading instruments?
Swap Free service is available for all trading instruments apart from those in the Forex Exotic and CFD categories.
How to get Swap Free account?
To activate the Swap Free option, contact our 24/7 support team.
2023-03-02 • Updated