Evaluate our trading account options to select one that best fits your needs.
Micro accounts are designed for beginner traders who want to start trading with small amounts of money. These accounts typically require a minimum deposit of $10 to $100 and allow traders to trade in smaller lot sizes (usually 1,000 units of the base currency). Micro accounts also come with higher leverage, which means traders can control larger positions with less money. However, due to the smaller lot sizes, micro accounts tend to have wider spreads and higher trading costs.
Micro accounts also come with higher leverage, which means traders can control larger positions with less money. For example, if a trader has a leverage of 1:500 and they have $100 in their account, they can control a position size of $50,000. However, due to the smaller lot sizes, micro accounts tend to have wider spreads and higher trading costs.
The spread on a micro account is typically wider than that of a standard or ECN account, and there may also be other fees involved, such as transaction fees or overnight swap fees. Therefore, traders need to consider the overall trading costs when choosing a micro account.
Standard accounts typically offer lower leverage compared to micro accounts, which means traders need to have more money to control larger positions. For example, if a trader has a leverage of 1:400 and they have $1,000 in their account, they can control a position size of $400,000. However, due to the larger lot sizes, standard accounts tend to have lower spreads and lower trading costs.
Micro accounts also come with higher leverage, which means traders can control larger positions with less money. For example, if a trader has a leverage of 1:500 and they have $100 in their account, they can control a position size of $50,000. However, due to the smaller lot sizes, micro accounts tend to have wider spreads and higher trading costs.
The spread on a standard account is typically narrower than that of a micro account, and there may be other fees involved, such as transaction fees or overnight swap fees. However, the overall trading costs on a standard account are generally lower than on a micro account due to the narrower spreads.
ECN accounts are designed for advanced traders who want direct access to the interbank forex market. ECN accounts require a minimum deposit of $2,000 to $10,000 and allow traders to trade in standard lot sizes with very low fixed commission. The main advantage of ECN accounts is that they provide traders with direct access to the interbank market, which means traders can benefit from better pricing and faster execution speeds. However, ECN accounts also come with a commission fee for each trade, which means traders need to factor in this cost when calculating their overall trading costs.
ECN accounts usually offer fixed commissions or lower leverage compared to micro and standard accounts, which means traders need to have more money to control larger positions. However, ECN accounts provide traders with direct access to the interbank market, which means traders can benefit from better pricing and faster execution speeds.
The main advantage of ECN accounts is that they provide traders with direct access to the interbank market, which means traders can benefit from better pricing and faster execution speeds. However, ECN accounts also come with a commission fee for each trade, which means traders need to factor in this cost when calculating their overall trading costs.
