In order to trade and earn money on Forex, you need to have your own trading account with real money. On today’s market, almost every well-known Forex broker offers its clients a wide range of accounts. Each type of account is suitable for solving a particular problem. Opening a trading account is now so easy that it only takes a minute and anyone can do it regardless of their computer skills.
- Standard Trading Accounts
- Demo account
- Mini account
- Micro account
- Cent account
- Forex ECN accounts
- STP accounts
- Pamm forex accounts
- Forex managed account – MAM (Multi Account Manager)
- Copy trading accounts
- Forex swap free account
Standard Trading Accounts = The standard trading account is the most common. This account gives the user access to standard lots of currency each worth $100,000. That does not mean that you have to put down $100,000 of capital in order to trade.
Demo account = A demo account allows users to buy and sell stocks using paper trading, but test those trades under real, live market situations. According to TD Ameritrade, their proprietary platform, “TickerTape”, is a trading simulator from which an interested investor can trade without risking a dime, in a real-time environment.
Mini account = A forex mini account is a foreign exchange (FX) account which allows beginner traders to enter the currency market using smaller size (mini lot) positions and trading quantities, thus lowering the funds at risk and limiting potential losses.
Micro account = A micro account caters primarily to the retail investor who seeks exposure to foreign exchange (forex) trading but doesn’t want to risk a lot of money. A micro account’s smallest contract, also called a micro lot, is a preset amount of 1,000 units of currency, or one-hundredth of a standard lot.
Cent account = The Cent account allows you to trade in cents, with instant order execution and fixed spreads. This is a great account to practice trading or to test your new strategies, advisors, and indicators.
Forex ECN accounts = A true ECN (Electronic Communications Network) account is a pure order-matching execution system, where the account provider charges a premium as commission per trade instead of artificially inflating the raw spread which occurs naturally within the order-matching process.
STP accounts = A Straight Through Processing (STP) broker is a forex brokerage firm that provides wholesale forex services orders to institutional traders. The STP broker was built from the exchange between the two world-choices of retail customer service and high-quality trading institutions
Pamm forex accounts = The PAMM account is a unique product that allows investors to earn without having to trade. You can invest your funds in the accounts of traders, who receive a percentage of the profits they earn from trading with your funds as a reward.
Forex managed account = A managed forex account is a type of currency trading account in which a professional money manager makes trades and transactions on a client’s behalf for a fee. Individual investors who are not experts in foreign currencies but still want exposure to this asset class may consider a managed forex account.
Copy trading accounts = Copy trading in forex means that a trader can simply copy another trader’s positions rather than scanning the fast-moving forex markets themselves. Trading platforms such as MT4 or an MT4 VPS are popular platforms for social trading due to MT4’s large user base and various online user forums.
Forex swap free account = SWAP-FREE ACCOUNT. Is a type of account designed for traders of Islamic faith that has fixed fee instead of swap. The fee is not an interest and depends on the direction of the order.
For Briefly Explination Follow our Forextrade1’s blog
Where to contact us :
Website : www.forextrade1.co
Twitter : www.twitter.com/forextrade11
Telegram : telegram.me/ftrade1
Facebook : www.facebook.com/Forextrade01
Instagram : www.instagram.com/forextrade1
YouTube : www.youtube.com/ForexTrade1
Skype : forextrade01@outlook.com
Email ID : info.forextrade1@gmail.com
Discord : https://discord.gg/vEk98ZvrHP
LinkedIn : https://www.linkedin.com/company/forextrade11