Sorry, I would like to ask, I am a beginner, I just started playing on FBS. I opened a bonus 123 account and got a profit of $839.
Because the withdrawal requirements require a deposit, should I make a deposit using a cent account? How many lots do I need to trade? Or do I have to open a standard account?
Thank you for your help
To Tari,
In accordance with the terms and conditions of the FBS $123 bonus account, profit withdrawals can only be made after the client/trader has met the specified trading volume. The formula to determine the number of lots to be traded is Net Profit divided by 3. Therefore, if you earn a profit of $839, the number of lots to be traded is 279.66 lots (839 : 3).
In order to withdraw profits from the bonus account, you are required to trade with a real money account (a real account). You can deposit funds into your existing standard account (the emptied 123 bonus account will be converted into a standard account), or open another type of real trading account. You can open and deposit funds into another real trading account (excluding ECN and MT5 accounts) according to your capacity. After you have finished depositing funds into a real trading account, you must trade the predetermined number of lots in order to withdraw profits from the 123 bonus account. In this case, after you make a deposit, you must trade 279.66 lots or 27966 lots on a cent account (1 cent account lot = 0.01 standard account lot).
If you think the number of lots is too large for you to trade, or it will take a very long time to meet the lot size, don't worry, because FBS provides an unlimited trading period for you to meet the specified trading volume. And at the end of the month, if the number of lots has not been met, the number of lots you have already traded will still be calculated to determine how much profit (profit from the 123 bonus account) you can transfer to your trading account. The calculation is Total Lots multiplied by 3. So you don't need to worry, you can pay off the lot size in installments until the required lots are met. And during that installment period, you will still receive profit at the beginning of the month according to the lots you have already traded.
For example, to withdraw the profit of $839, you are required to trade 279.66 lots. Then you have made a deposit and started trading today (January 18). The number of lots you have traded during the January period (from January 18 to January 31) is 45.5 lots. Then on February 1, you can transfer a profit of 45.5 X 3 = $136.5 from the total profit of $839 (the profit you have already earned from trading in the “Bonus 123” account for 7 days) to another account in your Personal Area. Then for the February period, you have traded 70 lots, then on March 1 you can transfer 70 X 3 = $210. And so on, until the specified number of lots has been met.
Hope this helps.