To trade on Forex you will need to create a Forex account. There are plenty of platforms where you can do that, but the most famous and trustworthy one – the FBS. It is an international broker with more than 17 million clients around the globe. In this article we will tell you how to open a Forex account on the platform.
How to choose a broker
Before creating a Forex account, you should choose your broker. An account is obviously needed for Forex trading. A lot depends on the choice of a broker, so here are a few tips on which broker is better to choose:
- Pay attention to whether the broker is acting legally. Their activities are strictly regulated, so it is important for a broker to have licenses and certificates to provide brokerage services.
- Specify which markets will be available to you when using this broker.
- Specify about the tariffs and interest that the broker will take. Usually good brokers have a lot of different rates. It should depend on your goals and what amounts you use.
- The possibility of learning will also be an advantage. If a broker holds webinars or lessons on its platform, this is a great opportunity to gain new and necessary knowledge. If the broker’s website has video tutorials or text tutorials, this will also work.
You should also remember that the bigger, older and more famous the broker, the better. Also, a good broker should have an impeccable reputation.
How to create a Forex account on FBS
We will take the FBS broker as an example. This platform fully complies with all the categories described above. How to register on FBS:
- Go to the broker’s official website (fbs.com or fbs.eu)
- In the upper right corner, find the “Open an account” option. There is also an “Open Demo Account” option nearby, but we will talk about it later.
- In the opened window you will need to enter your email address and full name.
- After you finish, click “Proceed”.
- Then, you will have to select Trading Platform (MetaTrader 5 or MetaTrader 4). Choose it depending on the type of your activity. Also, here you will select the currency of your profile.
- Now, when you’re done with entering your data, you can click on “Open Account”. Here you can check and edit information, if there is a mistake. You will also be shown your MetaTrader login, password, server and IP. MT Investor password and Investor password. It is important to remember the data.
- After, you will need to enter more information. This includes your name, place of residence and postal code, phone number, etc. If you skip this step, you will create a demo account, instead of full.
Finally, you can also bind your payment system.
The difference between a full and demo account
When using a demo account, you will trade with virtual money but using real and up-to-date data from exchanges. Because the money is “not real”, you can add an unlimited amount of it to the demo account. This can be useful for people who would like to learn Forex trading safely. Here you can try different strategies without any limitations. If you have never done trading on Forex before, many experts recommend starting with a demo account.
We wish you luck with future trading and hope that this information was useful to you!