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Can you explain the main differences between the account types?

Asked by Dadi N. on 1/29/2024

2 Answers
Uy H.2/3/2024

I assume you are expecting a short but informative answer.
I will try to give just such an answer to your question.

Basically, all types of accounts can be divided by trader's experience level
The first group is obviously beginners. If you have very little trading experience, then most likely Mini account will be suitable for you. It has the most simple conditions for beginner traders who usually have small deposit size.

The next type of account applies to both beginners and confident traders. This is standard account. If you have some trading experience, you should probably open Standard account. It is more advanced compared to Mini.

And the third group is pro accounts. These types of accounts are more suitable for pro traders. These are ECN and Pro accounts.
If you have any special requirements for your trading strategy, choose one of them.
Kasom B.1/31/2024

Let me start with what is common for all the accounts. First, is the minimum initial deposit requirement, which is $5 for each account type. Next is the leverage, with each account type you can trade with a leverage ratio of up to 1:1000. However, the main differences that you need to know and make a decision upon, are the spreads and the instruments available to trade, and of course the commission fee for the ECN account.
There are some other small differences, but the main ones you need to know are these. Each of the accounts has its own advantages, it is up to you to decide which one aligns best to your trading style and strategy.

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