Best Mobile Trading Platform Asia 2020
FBS’s all-in-one trading platform, FBS Trader, got the outstanding award “Best Mobile Trading Platform Asia 2020”.
FBS is proud and happy to win in such superb nomination from Global Banking and Finance.
FBS Trader is a mobile app available for both Android and iOS mobile devices.
With FBS Trader, you can trade about 100 financial instruments anytime and anywhere through your mobile phones.
Open FBS Real Account, install and enjoy trading easily with the best app.
Besides the FBS Trader, you can also download FBS MT4 and MT5 trading platforms with full functions of trading tools to your mobile phones.
For more information about the download of FBS MT4 and MT5 trading platforms, visit the page here.
Get 100 USD Quick Start bonus
FBS Trader mobile trading platform featured the new 100 USD Quick Start bonus.
Don’t miss a great chance to try trading in FBS Trader with free $100 and without any initial deposit.
With Quick Start, you will see how trading works in the mobile trading platform.
Using $100, you will open and close orders, manage your risks and make profit, and the last is available to withdraw later.
Quick Start comprises 7 simple steps you need to complete.
Quick Start is more like a game where you upgrade your level by learning new with tips, videos, and hints.
Each has a description of what you need to do next.
- Go to FBS Official Website and register online with your name and email address. The process is easy and may only take a minute to complete.
- Download FBS Trader in AppStore or Play Market and create Quick Start bonus account. Free $100 will be deposited to your account automatically. You are ready to trade.
- Study the key tools and instruments with pop-up tips. Explore opportunities of charts: customize them in a few clicks and scale them with your fingers. Follow simple on-boarding and learn how to manage instruments and where to look at information about them.
- Time to open your first order. Before you do this, watch a great educational video. Next, choose the instrument you like and press Buy or Sell. That is your first mobile trade. Also, you will need to verify your e-mail here. Don’t worry: it won’t take more than a few minutes to do it.
- To trade wisely, you need to manage risks. Learn how to place Stop loss and Take profit – now these options are available. As well as another educational video.
- Get to know the money management terms and see where your profit is displayed. To see how it works, create an order. You can track your profit in real-time.
Every step teaches you something important about mobile trading.
If you want to profit on-the-go, take your chance to discover FBS Trader with Quick Start bonus.
If you want to learn more about trading, you still have a chance.
FBS Trader features all order types
FBS Trader isn’t just a mobile app to trade Forex, but features all the basic and advanced trading tools for users.
Most importantly the order types.
FBS Trader allows you to place all the popular order types including market order, limit order and other advanced pending order types.
Are you just getting started in the Forex market?
First of all, let’s learn how to order about risk avoidance, such as putting a stop loss in a payment order.
If you add a payment order when you place a new order, you can create a situation where you can cut loss properly even if there is a sudden change in the market price.
In addition, always placing payment orders is an important key for long-term FX trading.
Master the Order Types on FBS Trader
For ordering FX, there are basic ordering methods and advanced ordering methods that combine them.
The basic ordering methods are market orders that do not specify a price, and limit and stop orders that specify a desired price in advance.
Before you start trading on FX, let’s first understand the meaning of these three basic ordering methods and the advantages and disadvantages.
The following 3 order types are the basic order types available on FBS Trader mobile app.
1. Market order
Market orders are a “place order at the current rate” method.
Unlike other ordering methods, this is used when you want to close an order immediately without specifying a price.
In the case of market orders, there may be a difference between the exchange rate at the time of ordering and the exchange rate at the time of execution (the exchange rate at the time the sale is confirmed).
This is called “slippage”, and although it rarely happens in normal times, it can occur when market fluctuations are significant.
The reason why slippage occurs is that the rate fluctuates before the order placed by the trader reaches the server of the FX company.
In order to reduce the risk of slipping on market orders, there is also a method called “streaming order” that allows you to specify the allowable slippage width in advance, but in the situation where price movements are intense and slippage often occurs, it is difficult to complete the order.
It is important to use market orders if you want to close orders immediately in the normal market, and streaming orders if you want to execute at a price that is advantageous to you.
2. Limit order
Limit order is a method of ordering by specifying the desired exchange rate in advance.
An order placed at an exchange rate that is favorable to you is called a limit order.
Place an order such as “buy when it becomes less than —” or “sell when it becomes more than —” and wait for the transaction to close.
It’s also useful when you can’t monitor the chart for a long time, but it also has the disadvantage that it’s hard to fill if the specified price isn’t reached.
3. Stop order
Stop order as its name implies, contrary to limit order, it is an order to put out an exchange rate that is disadvantageous to you.
By setting “Buy when the price is over —” and “Sell when the price is under —“, you can prevent loss when the market moves in an unexpected direction.
It’s a very important ordering method to avoid risk, so be sure to remember it.
You can also use it to catch a wave of price increase (trend) by making a stop loss by saying “buy when it is over —“.
There is also a “trail order” method for ordering a trend, so if you understand the limit and stop prices, it is convenient to remember this as well.
Check out the followings for more information on trail orders.
Order Types that combine limit and stop orders
There are also order types that combines the limit and stop orders which are introduced so far.
These are a convenient ordering method when you want to specify rates for new orders and settlements, or when you want to support both above and below the market price.
1. IFD order
IFD (If done) is an ordering method that specifies the limit prices for new orders and settlement orders at the same time.
It is for advanced users because it is necessary to predict the movement of the market price, but if you can master it, it is convenient because you can automatically perform new orders to settlement.
However, if the market moves in the opposite direction to the expected scenario, unexpected losses may occur.
As an ordering method that covers such risks of IFD orders, there is “IFO ordering” which is described later.
2. OCO order
OCO (One Cancels the Other) is an ordering method that assumes two different patterns for new or settlement orders, and is effective when it is difficult to read how the market moves.
For example, if you have a “buy position at 1 EUR = 1 USD”, you can “profit by limit sell when the USD depreciates to 1 EUR = 1.01 USD” or “USD up to 1 EUR = 0.99 USD”.
If you want to make a loss stop with Stop Loss, you can use an OCO order that allows you to make a profit and a loss at the same time.
However, in the case of OCO orders, if one of the orders is filled, the other is canceled, so there is a disadvantage that if you reach the stop loss line and then rise, you lose the opportunity to ride the trend.
3. IFO order
IFO order is an ordering method that combines IFD and OCO.
You can place new orders and settlement orders at the same time, and you can specify two patterns for settlement orders.
Transaction automation, profitability and stop loss all at once reduce the risk of IFD orders mentioned above.
However, it should be noted that it has the same disadvantages as the OCO order mentioned above.
Are you new to FBS?
Start by choosing the account type you trade on in the page here.