FBS indulges the European exotic currency pair lovers by adding said instruments to their list. What are they and what requirements needed to trade them?
FBS enriches the experience of its clients who are interested in trading exotic currency pairs. Many requests from European clients for FBS to add exotic currency pairs, is now realized by the CySEC regulated company. Starting from September 21, FBS announced the addition of eight new exotic instruments, including:
- USD/PLN
- USD/SEK
- USD/HUF
- USD/CZK
- GBP/PLN
- GBP/SEK
- EUR/PLN
From now on, Polish Zloty (PLN), Swedish Krona (SEK), Hungarian Forint (HUF), and Czech Koruna (CZK) are available on the Forex Exotic list on MetaTrader 5. However, please note that for the time being, only Retail or Professional clients can trade the pairs in FBS.
For FBS traders outside Europe who want to trade exotic pairs, there are still many choices of other currencies at this broker. There are 9 forex exotic instruments including CNH/JPU, EUR/CNH, and etc. FBS has paid special attention to exotic pairs by putting them on a separate menu since 2018.
Trading on exotic pairs is actually tricky and challenging. A trader will need extra capital, because of the very high spreads and low levels of liquidity. Also, the trend that occurs can last quite a long time. Beginners who do not have good money management can be quickly hit by Stop Loss.
Although the risk is greater than the major and cross pairs, the profit that can be earned is also higher thanks to great volatility in exotic pairs. This is in accordance with the principle of High-Risk High Return. So, trading in exotic currency pair is actually suitable for expert traders with proficient skills to manage a high risk trading environment.
For more information on FBS broker, hit the review page here.