Forex Trading Account Types
Trading om Forex market is a popular way to become a participant in an intellectual exchange
game. Opening an account in Forex is available for both individuals and legal entities. In order
for your trading on Forex to be successful, it is important to choose the right account and know
what opportunities it gives. You can use different types of Forex accounts and various schemes
of working with a brokerage firm to achieve the best result and develop your own effective
Each type of account involves a certain set of options for optimizing trading in financial markets.
So, let's look at each account type separately, in order to determine which group of traders the
particular type of account will match.
If you are a novice trader, consider a Mini or Cent account. To start trading, it is enough to pay
10 USD. By the way, trade in micro-lenses will allow you to reduce risks.
Also this type of account is suitable for those who want to test the trading strategy.
If you have enough experience, consider accounts of type Standard or VIP. These accounts
provide for identical conditions: trade in standard lots, narrow floating spreads, leverage of up to
1: 500, Swap-free service (for clients of Islam).
Additionally, in any of the types of accounts presented, you can use the services of "Personal
Manager" and personal training.
To open an account of the Standard type, it is enough to pay 2000 USD, and for the VIP account
- 10 000 USD.
If your trading strategy involves trading with fixed spreads, then you might be interested in a
FIX-type account, where you can trade with fixed spreads of 2 points, micro-lotters. There is
also a wide list of assets - 25 currency pairs, metals, a Swap-free option and personal manager
services are available. To open an account of type FIX, it is enough to pay 100 USD.
PaxForex provides its clients with the opportunity to earn by attracting customers.