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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.
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How to open an FBS account?
Click the 'Open account' button on our website and proceed to the Trader 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.
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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 Trader 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.
Long Position
Long Position
It is a position at which you suppose that an asset will strengthen, so you buy it now to sell later at a better price. Traders may use verbs to “buy” and “go long” interchangeably. The strategy that involves keeping a long position is considered bullish.
In the case with currency pairs, you are going long on a base currency and short on a quote one.
For example, if you buy the GBP/USD pair at rate 1.2345. It means that 1 pound costs $1.2345. If the conditions in the market make you think that the value of GBP against USD will rise, you can buy now and keep it until the price goes up. Imagine the rate goes up to 1.2356. In this case, if you sell after the price increase, you will make 11 pips.
The price of 1 pip is:
0.0001X100,000 (lot size)=$10
Your profit from 11 pips is:
11X$10=$110
Use position trading as your main strategy only if you have extensive knowledge of fundamentals and good stress management skills.
2020-07-24 • Updated
