Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Energies
Choose an account type that suits you
Whatever your trading style or experience level, we have an account type that suits you. With ultra-tight spreads and high leverage, you can trade on more than 1000+ products across forex, indices, metals, commodities, and shares.
DEMO Account
- Free
- Easy To Register
- Risk-Free Environment
- Access To Trading Tools
- Real-Time Market Simulation
- Trading Strategies Practice
STANDARD Account
- Ultra Tight spreads
- Ultra-fast Execution
- No Dealing Desk
- Transparent Trading Environment
- Negative Balance Protection
- No commission on trades (except indices)
ECN Account
- Spreads starting from 0.0 pips
- Ultra-fast Execution
- In-depth Market Insights
- Transparent Trading Environment
- Negative Balance Protection
- Competitive commission per lot traded
Please note: The spreads vary across the assets. To learn about the spreads of a particular asset, kindly check its product specifications.
STANDARD Account |
ECN Account |
|
|---|---|---|
| Spreads | As low as 1.3 pips | As low as 0.0 pips |
| Minimum Volume | 0.01 lots | 0.01 lots |
| Order Execution Type | Market | Market |
| Account Currency Types | AUD, CAD, EUR, GBP, USD, NZD | AUD, CAD, EUR, GBP, USD, NZD |
| Payment Methods | Visa/Mastercard, E-Wallet, International Bank Wire Transfer | Visa/Mastercard, E-Wallet, International Bank Wire Transfer |
| Trading Products | 50+ currency pairs, 700+ stocks, 10+ commodities, 20+ indices | 50+ currency pairs, 700+ stocks, 10+ commodities, 20+ indices |
| Mobile Trading | ||
| One-Click Trading | ||
| Hedge | ||
| Expert Advisor (EA) | ||
| 24-Hour Trading | ||
| 1-to-1 Client Manager | ||
| Live Account |
Frequently Asked Questions
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1.
What is a forex trading account?
A Forex Trading Account is a financial account that allows one to buy, sell, and trade foreign currencies in the international foreign exchange market. It is basically the base on which your forex trading activities will rest, giving you access to various currency pairs and trading tools.
2.Which account is best for forex trading?
The best forex trading account depends on individual needs, experience levels, and trading goals. Some of the points to be considered while looking for the best forex trading account are as follows:
- Account type (standard, mini, or micro)
- Minimum deposit
- Availability of leverage option
- Spreads and commission
- Trading platforms
- Customer support
Based on research and comparison with various brokers, the best forex trading account for an individual is determined according to the varied trading strategy and risk tolerance.
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3.
How do I open a forex trading account?
To open a forex trading account, follow these general steps:
- Research and choose a reputable forex broker
- Visit the broker's website and locate the account opening section
- Select the account type you wish to open
- Fill out the application form with your personal information
- Provide necessary identification documents for verification
- Fund your account using the available payment methods
- Download and install the trading platform
- Start trading
4.What types of forex trading accounts are available?
A broker typically offers the following types of accounts to a forex trader:
- Standard Account: Primarily meant for an experienced trader who should be ready to hold at least a higher minimum deposit and lot sizes.
- Mini Account: It is ideal for intermediate traders with a smaller minimum deposit and lot size.
- Micro Account: Good for the new trader with the smallest lot sizes and low minimum deposits.
- Demo Account: This account is used when one wants to practice trading by using virtual money to test strategies without taking real risks.
- ECN Account: This account provides direct access to the interbank market offering tighter spreads but more commissions.
- Managed Account: The professional traders manage the account for you; on your behalf, they take care of your funds.
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5.
What is the minimum deposit required for a forex trading account?
Most brokers have a minimum deposit requirement for trading accounts, though it may vary slightly depending on the type of account. The minimum deposit can range from $5-$10 at some brokers to $100 or even more at others. Generally, standard accounts have higher minimum deposits than mini or micro accounts.
6.How do I choose a forex broker?
There are several recommendations for choosing the right forex broker, which include, by and large, checking on:
- Regulation and licensing
- Broker's trading fees (spreads and commissions)
- Number of offered currency pairs and financial instruments
- Quality level of trading platforms and tools
- Caliber of customer support
- Speed and reliability of executions
- Quality of education
- Types of accounts offered and their features
- Options for deposit/withdrawal
- Company reputation and user reviews
Do not rush to choose a broker. Take your time to study many brokers in the lists before deciding.
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7.
What are the fees associated with a forex trading account?
Common charges that apply to forex trading accounts:
- Spreads: The difference between the buying price of a currency pair and the selling one.
- Commissions: They can be a flat amount or percentage and are charged per trade.
- Swap or rollover fees: Charged to hold an open position overnight.
- Inactivity fees: Charged to accounts that have been dormant.
- Deposit and withdrawal fees: These are subject to the payment method used.
Do not forget to look at the fee structure for your broker before you open an account.
8.Can I open a forex trading account with multiple brokers?
Yes, you are capable of opening several forex trading accounts with different brokers. Such a procedure is called multi-broker trading. Such technique can bring several benefits:
- Access to different conditions for trading and instruments.
- Ability to compare services and quality of execution.
- Diversification by risks.
- Possibility of making use of many diverse kinds of promotions and bonuses
But managng multiple accounts consumes your time and energy to handle different programs. Therefore, as it is tough to hold several accounts, consider your ability to deal with multiple websites productively.
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9.
How do I manage risk in my forex trading account?
Most importantly, managing risk is the key to successful trading in Forex in the long run. Let's now discuss some of the crucial practices for managing risk:
- Set up stop-loss orders to limit the probability of losing
- Implement proper position size as per your account balance
- Distribute your trades over different currency pairs
- Avoid over-leverage by using adequate leverage ratios
- Continuously educate yourself about market trends and analysis techniques.
- Use a demo account in testing strategies before risking real money.
- Maintain a trading journal for tracking and analyzing your performance.
- Set reasonable profit targets and follow a designed trading plan.
10.What are the benefits of using a demo account before opening a live forex account?
A demo account, also known as a practice account, offers several benefits for both novice and experienced traders:
- Risk-free practice: Test various strategies without even risking a penny.
- Familiarization with the trading platform: Familiarize oneself with the trading platform, its features, and tools.
- Experience market conditions: See how currency pairs behave at real-time.
- Develop and refine trading strategies: Develop and refine strategies that would determine which of these might likely be successful.
- Build confidence: Confidence will grow as you build up your experience and comfort with the mechanics of forex trading.
- Assess broker performance: Confirm the speed and reliability of the broker's execution.
- Learn risk management: Attempt to set up stop-losses and take-profit orders.
- Understand emotional aspects: Try to grasp the psychological hurdles of a trade.
Most great brokers provide free demo accounts so you can practice before opening up a live account for forex trading.
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