FBS has recently released a new type of account and our team spent some time evaluating the trading condition for this new account type with the intention to assess the benefit it could bring to our clients. Trading conditions are very important for forex trading and you can refer to the article to understand how it could impact your profit. Let’s look at the FBS PRO account in detail.
Margin and Margin Level
FBS has stated that the FBS PRO account is an account type for large orders and algo trading. We have performed a test to purchase 0.01 lot of EURUSD to observe the difference as follows.
- It only uses a 0.54 margin in the PRO account compared with 2.15 in the Cents account.
- The margin level for USD2,000 capital is 371,979 % vs. 92,990%.
A higher margin level definitely will help to reduce the chance of margin calls as you will be able to open more positions/orders in your martingale series.
Spread
A better spread will help you to close your martingale order faster. The following is the spread between the PRO account and the Cents account at the same time. Please note that spread normally will keep fluctuating from time to time.
- EURUSD spread is 6 points in the PRO Account vs. 9 points in the Cents Account.
- AUDCAD spread is 15 points in the PRO Account vs. 26 points in the Cents Account.
Leverage
The PRO account can support up to a leverage of 1:2000 while the cents account can only support 1:1000.This is the reason why the margin is lesser when you purchase 0.01 lot EURUSD in the PRO account. However, there is a condition that only an account that is less than USD6,000 can have leverage of 1:2000. Once your account exceeds USD5,999, the leverage will automatically change to 1:1000, which is similar to a cents account. Hence, if your account size is less than that, you can consider changing to a PRO account to leverage this benefit.
Margin Call and Stop Out
The margin call is when the broker will demand the client to deposit money to maintain their current opening orders/positions. Stop out is when the broker will start to automatically close your opening position with a loss. The percentage listed there is the margin level of the account.
For the Cents account, the broker will issue a margin call when your account margin level hits 40% or lower and it will start to close your position when your margin level is lower than 20%.
For a PRO account, the broker will only issue a margin call when your account margin level hits 30% or lower and it will start to close your position when your margin level is lower than 10%.
In this case, a PRO account will give your account a bit more runway before it starts to close positions.
Recommendation
Based on our assessment above, a PRO account will definitely help to reduce the chance of margin call by giving more leverage( make sure you pick 1:2000), and more runway during risky moments. The only drawback it has is it is not a cents account, which means you must have at least a capital of USD 2,000 to be able to use a PRO account for Ophiuchus EA or Limitless EA.
Hence, our recommendation is, that if you have more than USD 2,000 as capital to trade, please go with a PRO account. If you intend to trade with less than USD 2,000, you can continue to use the Cents account.
If you do not have an FBS account yet, you can register your account here.
To set up a new PRO account, you just need to login into the FBS portal, add a new account just like how you set up your idle account, and make sure you select PRO account type and select 1:2000 leverage to get the benefit of it. Please make sure all your order in the old account is closed before you move to the new PRO account.
Offer for Existing Client
If you are our existing client with an active EA license, you will need a new license for the EA for this PRO account. Normally, you will need to get a sub-license for an additional account and it will cost you USD 50. To help our clients have better trading conditions and reduce the chance of margin calls, we will allow our clients (who registered their FBS account using our link previously and only FBS account clients) to change to this new PRO account without any charge. However, this offer is strictly only till 31 Aug 2023.
If you meet the above condition, you can request a new license key using the form below.
Update -> The offer for existing clients is closed. If you intend to get another sub-license for your PRO account. You can chat with us to order or directly purchase in our shop.
