In this article, you will learn what a trading deposit is and how many types it has. You will also read about how to replenish your deposit using FBS.
A trading account (deposit) is a special separate account for trading on forex. Also, it allows to trade on other financial markets that traders and investors open with a forex broker and exchange. There are two types of deposit: demand and time. You can withdraw your funds at any time from a demand deposit account. It is a conventional bank and savings account. While time deposits have fixed time and pay a fixed interest rate. This deposit offers a higher rates than saving accounts.
All deposits go to a personal account in the “personal account” area on the broker’s site. It is from these funds that a trader can open any number of trading accounts, depending on:
- Strategies for investments;
- To open accounts on different trading platforms – trades are autocopied ONLY within the same platform, so there are different “master accounts” on Metatrader 4 and Metatrader 5.
To diversify risks and open deposits in different currencies (depending on the geography of the chosen broker).
Types of trading accounts
There are several types of trading accounts:
- Demo account – a virtual demo account that allows you to trade “imaginary” currency. It exists only on this platform and is not real. All the data on the exchange are real, which allows you to trade fictitious money using real data. That is a great practice for beginners.
- A cent account is one hundred times smaller than a “standard” account, since $1 = 100 cents. It is the smallest of a trader’s “real accounts” to process a trading scheme. With Buy and Sell schemes and setting Stop Loss on both Bull Markets and Bear Markets, you can get a profit. But not all Forex companies have cent accounts.
- “Standard” trading accounts – NDD, STP, ECN
- LAMM accounts for auto-copying trades
- Cryptocurrency accounts (opened in cryptocurrency, even when replenishing funds with fiat money)
Also an Investment accounts for the purchase and trading of securities and derivatives. Including stocks, warrants, forward contracts, Treasury bills, exchange-traded funds (ETFs) and so on
What are the optimal deposits
In most cases, the best option depends on the trading lot. Many trading experts think that the best optimal deposits are:
- up to $300 – this is only a cent account for 0.001 lots (not all forex brokers have such deposits);
- from $1,000 and higher – 0.01 lots are traded (all forex brokers have this opportunity);
- from 10.000$ and higher – 0.1 lot is traded (also for all brokers).
Which deposit to use and what means to use is, of course, your choice.
How to open an account with FBS
If you are using a trusted FBS broker, this guide will be helpful to you. A FBS is an international broker with more than 17 million users around the world. This company is also known as an official trading partner of FC Barcelona and Leicester City. It would be a good idea for you to get acquainted with information about the brand on your own. Just in case if you are still not sure whether you should choose FBS. You can either visit their official website or read feedback on the Web. If you want to trade and have the initial capital, you can fund your account and start the process.
To do this, you need to follow several steps:
- Register on FBS. Also, you need to create not a demo account, but a full-fledged profile. In other way, you will not have full access to your profile. In order to replenish your account, you will have to confirm your account with documents and set up a payment system.
- Next, you will have to go to https://fbs.com/trading/funds.
- Here you need to choose the payment system that suits you from the extensive list provided. All payment systems are charged 0% commission, but the payment system itself is not excluded.
- At the same address, you can not only withdraw funds from your account, but also replenish it.
This is how you can quickly open your own trading account. Also, you should not forget about data security and do not use public Wi-Fi networks for such transactions. Otherwise, you can get into trouble. Your personal information may be stolen. There is also a choice after registering an account on FBS platform allowing you to log in only from your IP address.
We hope that this information was useful to you and wish you a safe trading!