When deciding on a trading account, it is important to consider the different types available. Traders with shorter-term strategies may benefit more from a raw spread account, while more conservative traders may benefit from a standard account. Despite the difference between the two types, there are several similar characteristics, including minimum deposits, minimum trading volumes, and more.
The IC Markets Raw Spread Account is one of the most popular options in the industry, featuring the lowest overall spreads in the industry. This account also offers the lowest spreads for 61 currency pairs. Furthermore, this account is fully customizable. The minimum deposit for an IC Markets Raw Spread account is $200. This account uses the MetaTrader trading platform.
Consider the example of EUR/USD. Suppose that EUR/USD is trading at 1.1186. Using a raw spread account, you could buy EUR/USD at that price, resulting in a large profit. However, it is important to remember that in order to avoid a large loss, you need to make sure that your gain is significant enough to offset your commission fee.
Another option is the IC Markets MetaTrader 4 account. This account offers fast trade execution and low spreads. This account starts with a one pip spread and trades on 60 currencies and metals. You can also sign up for a demo account to test out their services before committing to a live account. IC Markets also offers a standard account with a minimal opening deposit of $200.
The cTrader Raw Spread Account and the MetaTrader Raw Spread Account are similar, but the commission structure is different. cTrader offers a different trading experience than MetaTrader. You can also choose to use a MetaTrader Raw Spread account if you use the MetaTrader Trader TD Ameritrade Offers the Lowest Forex Trade The two platforms offer different features and options, so you should look at both options to make the right decision.
Depending on your trading strategy, you may want to choose a standard or a raw spread account. While each type of account is useful in different circumstances, the raw spread is usually best for beginners, while the standard account is ideal for more advanced traders. IC Markets offers 24 hours of customer support in Limassol and Sydney, and its customer service teams are available through live How to Make the Most of a Personal Forex Trader Robot or email. The company is also widely known for being one of the best low-fee forex brokers.
If you have a high-volume trading strategy, a standard account may be too low for your trading style. For such traders, the raw spread can make trading more profitable. Unlike a standard account, the raw spread can be as low as zero pips. With a standard account, the spread is not much more than a tenth of a pip.