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.
What is discretionary trading?
Discretionary trading allows you to directly control your trades. Discretionary traders rely on their intuition and understanding of the current market conditions instead of strict rules.
It does not mean discretionary traders do not use any trading rules or strategies. Rather, they apply and modify these rules depending on the current situation.
This trading system is useful when you need to act quickly. For example, the recent economic recession made consumer discretionary stocks very volatile. Because of this, traders who use standard trading rules and algorithms often miss good opportunities. Discretionary traders make their own decisions based on available information and predictions.
Discretionary Trading Pros and Cons
The advantages of the discretionary trading system include high profitability, adaptability, and efficiency. It allows you to analyze the current market conditions and use them to maximize profit. You are free to choose what is best suited for your needs.
The disadvantages of discretionary trading lie in its reliance on a trader’s judgment. Emotions can prevent you from thinking clearly and making objective decisions. Moreover, a discretionary trader needs to have some experience in trading, so this system is not beginner-friendly.
2022-06-06 • Updated