FBS provides traders with another option to trade in foreign currencies. In the case of higher volatility, it is possible to obtain more profits from price movements。

Do traders have the opportunity to choose less popular currencies for trading？The answer is yes。There are so-called exotic currencies, which are not considered major or minor and are little known in the trading world.。It was agreed that the euro, the dollar and the yen were seen as major currencies, coming from stronger economies, providing fairly stable and more liquid currencies.。But how to trade this currency, especially with a famous broker like FBS？Is it worth a try?？

What are exotic currency pairs?

In short, exotic currency pairs are part of a currency trading market, where a major currency from a more powerful country, such as the U.S. dollar (USD), is traded against the currencies of developed countries such as the Turkish lira or the Hungarian forint.。Basically, the trading of exotic currency pairs is similar to that of regular currency pairs, one of which will serve as a basis and the other as a quote。

Foreign currencies are also heavily influenced by many economic factors, such as foreign investment。Interest rates, domestic markets, and geopolitical factors。However, these currency pairs have some differences from conventional currency pairs: exotic currencies are less liquid but more volatile, so trading with this currency pair requires some specific trading strategies。

Despite the higher risk, the main reason why trading exotic currency pairs is still interesting is their volatility, which means that the value of securities may be spread over a larger value range and bring more profits due to wide price movements。

The basics of trading exotic currency pairs at FBS

FBS is one of the world's leading brokers offering this option to traders。In addition to major and minor currency pairs, FBS traders may choose such currency pairs for maximum profit due to their diversity and attractiveness.。The exotic currency pairs offered by FBS include:

• USD USD / TRY Turkish Lira
• USD USD / BRL Brazilian Real
• USD USD / ZAR South African Rand
• CNH Chinese Yuan / JPY Japanese Yen
• EUR Euro / TRY Turkish Lira
• USD USD / RBL Russian Ruble
• USD USD / CNH RMB
• EUR / CNH RMB
• EUR Euro / HUF Hungarian Forint
• EUR Euro / MXN Mexican Peso

FBS traders will benefit from competitive spreads when trading exotic currency pairs。For example, the USD USD / TRY Turkish lira is one of the most traded exotic currency pairs, with a minimum spread of 37 due to its very high volatility..2; other exotic currency pairs (such as CNH RMB / JPY JPY) can even be as low as 2.Trading with a spread of 0 points。

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Since 2009, FBS Holding Inc.(FBS) achievements in the field of foreign exchange transactions have been recognized by various international institutions.。As of 2019, the number of FBS clients reached 14 million, winning the most transparent Forex broker in 2018, the best investor education in 2017, the best customer service broker in Asia in 2016, the IB Forex program and many other titles.。

FBS is regulated by Belize IFSC and Cyprus CySEC。The broker is trusted by millions of traders and 370,000 partners from all countries.。According to the data, FBS has about 7,000 new trader and partner accounts every day.。And, 80% of customers will stay in FBS for a long time。

Trading products offered by FBS include Forex, CFD, Precious Metals and Equities。For Forex trading, CySEC-regulated FBS provides leverage of up to 1: 30 for cent accounts and standard accounts。Customers who want to try higher leverage can also register an account with FBS Belize。

In all types of accounts, the spread is from 1 point。Volume orders in standard accounts can be 0.01 to 500 lots, it is recommended that experienced traders use the account。

And on the cent account, bulk orders can be executed up to $500 breakups or the equivalent of 5 standard lots.。Cent accounts involve varying degrees of risk。FBS recommends cent accounts to beginners。All account types support the following trading instruments: 28 currency pairs and 2 metals。

Before entering the real Forex market, traders can practice using the FBS demo account, which is divided into two types, namely standard account and cent account。

Using the MetaTrader 4 and MetaTrader 5 platforms, FBS provides services on Windows and Mac, as well as Android and iOS mobile devices, providing traders with a trading experience at their fingertips, allowing traders to trade anytime, anywhere。

The MetaTrader platform also has a variety of key features, including the creation, purchase and use of Expert Advisors (EA) and scripts, one-click trading and embedded news, technical analysis tools, documentary other traders, hedging positions and VPS service support。

Another advantage of FBS is that customers who meet specific requirements receive a 100% deposit bonus and the deposit and withdrawal process is fast and convenient.。According to the customer, in addition to holidays, usually no more than 3-4 hours。

In order to increase the security of client funds, FBS also offers segregated accounts where 70 per cent of funds can be deposited with the client's bank; in addition, the margin is between 10 and 100 per cent.。If the trader loses funds in the course of trading but is insured, FBS will refund the trader's funds。

Traders have the opportunity to develop a side business when trading with FBS, i.e. as an economically recommended (IB) or affiliate。The commission provided by the FBS partner system is already at level 3, and traders can only earn additional income if they introduce new customers to FBS according to certain procedures。

Traders will also gain trading education experience at FBS。They have prepared a comprehensive foreign exchange course divided into 4 levels: beginner, beginner, intermediate and advanced。Traders can take courses that transform them from novice to professional, all materials are well structured。In addition, FBS offers a variety of forex analysis, webinars, forex news and daily market analysis that can be easily accessed on its website。

Traders can visit the official FBS website, which is available in multiple languages, including English, Dutch, Italian, French, Portuguese, Indonesian, Spanish, etc., and also provides live chat support 24 hours a day, 7 days a week。

In summary, FBS is a well-known broker among global retail traders。Due to flexible trading conditions, customers are able to use a variety of instruments for trading, low deposits, etc.。

It is very easy to trade foreign currency pairs on an FBS broker:

• First, visit the official page of the broker and press "Open an account"。
  Next, fill out a simple registration form。
  After that, select an account for trading foreign currencies (cents, standard or zero spread accounts)。

Three FBS accounts available for foreign currency trading support some of the most affordable trading conditions。For example, the minimum deposit for a cent account is only $1, while the leverage ratio for standard and zero-spread accounts can be as high as 1: 3000.。

Trading exotic currency pair preparation phase

• Choosing the right exotic currency pair
  It is better to choose a more well-known foreign currency pair, such as USD USD / TRY Turkish Lira or EUR / TRY Turkish Lira, because the lira is heavily traded worldwide and has experienced several economic crises, trading can be maximized through its high volatility Profit。

  Use the correct scheme
  When trading with this currency pair, there are strategies that must be used to improve the chances。Traders can use trend following strategies to obtain reliable quantitative data to predict price movements。Breakout trading can also be applied because it combines technical and fundamental analysis to observe breakouts, but traders should be very careful to avoid false breakouts; another strategy worth trying is range trading, which relies on a certain range of support and resistance to speculate on price movements。

  Manage Slip Points
  Due to its high volatility and high slippage risk, please use guaranteed stops and limits to focus on your position。

Conclusion

Trading with exotic currency pairs has both advantages and disadvantages. It may provide higher profits from fluctuations, but liquidity is less attractive and higher risks need to be considered。

Despite all the risks and benefits, trading with exotic currency pairs brings excitement to traders who want to take advantage of the myriad possibilities to open positions and make money。Traders should remember that the currency pair is not for overnight profit。With patience, hold when necessary and convert to profit when the time is right。

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FBS is a global brokerage firm with operations in more than 150 countries.。More than 23 million traders and more than 400,000 partners choose FBS as their preferred forex brokerage。In order to provide the best customer experience, FBS organizes seminars and special events。