Standard Account
The Standard Account is the most popular account type on Forex.com. This account type requires a minimum deposit of $100 and offers spreads starting at 1 pip. With a Standard Account, you’ll have access to all of Forex.com’s trading platforms, including MetaTrader 4 and 5.
Commission Account
The Commission Account is similar to the Standard Account, but instead of paying spreads, you’ll pay a commission for each trade. Commission rates start at $5 per 100,000 units traded. This account type is ideal for traders who make frequent trades and want to keep their trading costs low.
Direct Market Access Account
The Direct Market Access Account is geared towards professional traders who require direct access to the Forex market. This account type requires a minimum deposit of $25,000 and offers spreads starting at 0 pips. With a Direct Market Access Account, you’ll have access to institutional-grade liquidity and execution.
Islamic Account
The Islamic Account is designed for traders who follow the principles of Sharia law. This account type offers swap-free trading, meaning you won’t be charged or earn interest on positions held overnight. To qualify for an Islamic Account, you’ll need to provide documentation showing that you’re a practicing Muslim.
Active Trader Account
The Active Trader Account is designed for high-volume traders who require personalized support and preferential pricing. This account type requires a minimum deposit of $20,000 and offers spreads starting at 0.2 pips. With an Active Trader Account, you’ll have access to a dedicated account manager, custom pricing, and advanced trading tools.
Professional Account
The Professional Account is designed for traders who meet certain eligibility criteria, such as having a certain level of trading experience or meeting minimum income requirements. This account type offers higher leverage and lower margin requirements than other account types. To qualify for a Professional Account, you’ll need to provide documentation showing that you meet the eligibility criteria.
Conclusion
Choosing the right Forex.com account type is an important decision that can impact your trading success. Consider your trading style, volume, and goals when deciding which account type is right for you. With the right account type and trading strategy, you can start trading Forex with confidence and work towards achieving your financial goals.
