What are precious metals?
In the Forex market, it’s gold, silver. Gold is obviously the most attractive and the most traded one. However, the other ones, especially silver, showed that they can be very volatile, too, and hence, provide a lot of trading opportunities. Potentially, including precious metals into your portfolio may not only diversity it but increase its long-term profitability.
How to trade metals?
There are certain factors that make trading precious metals and specifically gold very attractive. The main one is the fundamental predictability of the gold price based on its inversed relation to the global economic trends. If things go bad, investors seek refuge in gold – and its price rises. If the global economy is booming and optimistic moods are pushing traders to risk more – gold will normally slide down. That’s exactly why the virus crisis of 2020 made gold reach all-time highs above $2000!
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.
What trading account should I choose?
FBS offers various account types designed to meet your needs, including Cent, Micro, Standard, Zero Spread, ECN, and Crypto accounts with unique trading conditions. For newbies who have no trading experience, we recommend opening a Demo account first, and only after that a Micro or Cent account. For those who are not the first day in trading, we advise opening a Standard account – a classic one. For real professionals, we suggest a Zero Spread account or ECN account. Finally, for modern traders who prefer digital assets, there is a Crypto account.
Precious Metals Trading with Micro Account
Account type: Micro, Group: Metals
- Swap Long
- Swap Short
- Stop level
The value is given for 4-digit quotes. In 5-digit quotes the fourth digit after a comma is indicated (0.0001). In 3-digit quotes - the second digit after a comma (0.01). For example, in EURUSD quote - 1.36125; in USDJPY quote - 101.852
On Islamic accounts (Swap Free), there is a weekly commission for long-term positions of Forex Exotic.
CNHJPY: buy -102.06, sell -24.78;
EURCNH: buy -63.07, sell -11.69;
EURTRY: buy -301.00, sell 0;
USDBRL: buy -412.93, sell -22.05;
USDCNH: buy -66.78, sell -12.67;
USDMXN: buy -121.24, sell 0;
USDSGD: buy -70.21, sell -63.56;
USDTRY: buy -267.12, sell 0;
USDZAR: buy -114.52, sell 0.
Notice that in MT5 a commission is charged when you open a deal. In the Trade window for your open position the profit doesn’t include the commissions.