FBS has long been recognized as an accomplished brokers for many types of traders. What does it offer for short-term traders? Is FBS truly good for day trading?
Day trading is a short-term strategy that involves the buying and selling of a financial instrument within the same day or even several times during a particular day. It essentially revolves around taking advantage of small price movements in the market and if timed correctly, it can be a highly profitable trading strategy. However, day trading requires discipline, precision, and the right broker. Not all brokers support day trading due to the high volume of trades involved. Those interested in day trading should confirm that the broker they are about to sign up with supports it such as FBS broker.
Day trading tends to utilize a wide range of techniques to take advantage of what is seen as market inefficiencies. As such, technical analysis is involved along with a high degree of focus and objectivity. Day trading also features the use of high leverage as this helps to compound any profits made but it applies to losses as well. The main goal of a day trader is to generate as many profits as possible during the day without keeping trading positions open overnight.
What Day Traders Can Acquire with FBS
As an international broker that offers trading in forex, stocks, indices, and commodities, FBS broker has an enormous number of clients from over 150 countries worldwide. FBS focuses on providing an excellent customer experience by organizing special events and seminars where clients are offered training materials, top-notch trading technologies, and current strategies on the forex market. These sessions are aimed at all kinds of traders whether novice or experienced or day traders.
Since 2009, the action of FBS Holding Inc. or known as FBS in the world of forex trading has been recognized by various international institutions. With clients reaching 14 million as of 2019, FBS has received the title of Most Transparent Forex Broker 2018, Best Investor Education 2017, Best Customer Service Broker Asia 2016, IB FX Program, and many others.
FBS is regulated by IFSC Belize and CySEC Cyprus. This broker has been trusted by millions of traders and 370 thousand partners from various countries. Based on their data, FBS garners about 7,000 new traders and partner accounts every day. And, 80% of the clients stay in the FBS for a long time. No wonder the broker is growing rapidly due to the incredible growth in the number of clients.
Trading products offered by FBS range from forex, CFD, precious metal, and stock. For forex trading, CySEC-regulated FBS offers leverage up to 1:30 on Cent and Standard Accounts. Clients who want to try higher leverage than that can alternatively register an account under FBS Belize.
In all types of accounts, provided spreads start from 1 pip. On a standard account, volume orders can be made from 0.01 to 500 lots. Therefore, this account is recommended for experienced traders.
Whereas on Cent Accounts, volume orders can be carried out with a maximum of 500 cent lots or the equivalent of 5 standard lots. Cent Accounts involve a different level of risk. FBS recommends Cent Accounts for beginner traders. All account types support the following trading tools: 28 currency pairs and 2 metals.
Before plunging into the real forex market, traders can practice with FBS Demo Account which consists of two types, i.e Standard and Cent.
FBS uses the MetaTrader 4 and MetaTrader 5 platforms. They offer them on Windows and Mac as well as Android and iOS mobile. These platforms provide a trading experience at traders' fingertips, allowing traders to progress as a trader anywhere at any time.
MetaTrader platforms also have a variety of mainstay features, including the possibility to create, buy, and use expert advisors (EA) and scripts, One-click trading and embedded news, technical analysis tools, the possibility to copy deals from other traders, hedging positions, and VPS service support.
Another advantage provided by FBS is a deposit bonus of 100% for clients who fulfill certain requirements. The process of depositing and withdrawing funds can be run easily and quickly. Based on clients' testimonies, each process usually takes no more than 3-4 hours, except on holidays.
To increase the security of client funds, FBS also provides segregated account where 70% of funds can be deposited in the client bank. This broker also presents something unique; a guarantee 10% to 100% of the deposit fund. If a trader loses funds during a transaction but is insured, FBS will refund the trader's funds.
Traders also have the opportunity to develop a side business when trading with FBS, namely as an Introducing Broker (IB) or Affiliate. The FBS partnership system provides partner commissions that are already in 3 level positions. Only by introducing new clients to FBS according to certain procedures, traders can earn extra income.
Traders will also get trading education experience at FBS. They have prepared a comprehensive forex course. The course consists of 4 levels: beginner, elementary, intermediate, and experienced. Traders can take courses that will turn them from newbies to professionals. All materials are well-structured. Besides, FBS provides various forex analyzes, webinars, forex news, and daily market analysis that can be accessed easily on their site.
Traders can access the FBS website with many language choices. Of course, this will increasingly provide comfort for traders. Available languages include English, Dutch, Italian, French, Portuguese, Indonesian, Spanish, and others. Live chat support is also provided 24 hours 7 days a week.
In conclusion, FBS is a widely known broker among retail traders around the world. It continually grows to become a preferred broker because of flexible trading conditions that enable its clients to trade with various instruments, low deposit, and other trading advantages.
FBS is good for day trading because it recognizes what day traders need and it has made the necessary tools available. For instance, the broker has a leverage of 1:3000 which is the highest leverage. If applied right, it could give day traders the chance to make huge profits from multiple trades. The broker also offers a low spread which is quite important because it means traders will not end up with enormous transaction costs for the multiple daily trades they will be executing.
The minimum deposit is also relatively affordable. Day trading requires having sufficient capital because a fairly large amount of capital is usually needed to effectively capitalize on price movements within the day.
Furthermore, FBS provides educational materials that cover specific areas that are beneficial to a day trader. Knowledge is vital to be successful in day trading because there has to be an understanding of market fundamentals while being skillful in chart reading and technical analysis. The educational materials focus on risk management, trading forex news, reading chart patterns, trading breakouts, and understanding Elliot Wave analysis along with other vital information. There is also information on algorithmic trading that day traders can use to enhance their prospects of making profits in the market.
Due to the high frequency with which day traders turn over their positions, they need to trade with financial instruments that are highly liquid because it allows them to adjust their positions without interfering with the price of the instrument. FBS trading platforms has a wide variety of financial instruments that fall into this category.
FBS also provides recommendations that have proven useful and reliable over the years. A good example is that in terms of news and fundamental data, traders should not focus on the actual numbers from an economic release but rather on the reaction of market participants following the publication of the data. Furthermore, day traders are advised to put aside their guesses and thoughts to instead listen to what the market is really saying because they are not trading the market for confirmation of guesses but rather to make money.
Specific technical indicators that support day trading are also made available and a good example is the 10-period Exponential Moving Average which is effective for differentiating between bullish and bearish situations in short-term trades. Lastly, there is 24/7 customer support to help clients navigate any challenges they might face while trading, and that is highly important.