Usually everyone talks about making a right choice of a broker when it comes to FX trading. This is certainly true, your choice of a broker is vital. However, selecting the most fitting trading account can be, sometimes, even more important. In this article, we are going to take a look at the main reason behind trading accounts differentiation, their regular types and main items to keep an eye on when choosing your account.
Why does the differentiation exist?
Typically, trading and Binary Option Club broker prefers the design of trading accounts in a certain way, so as to allow for large merchants with greater access to the best services franchises capital accounts. But think about it as if you look at the auto industry. Where you can easily buy a Honda Civic car in an amount not quite, but you can also buy brand new Honda NSX car in exchange for a larger amount. In both cases, it owns and leads the Honda car, but the second model is likely to reach your destination faster.
The same thing applies to forex trading accounts, when you deposit $ 500 you can trade with a broker trading and not, for example, XYZ. But the deposit of $ 10,000 or more with the same mediator XYZ will give you the best conditions, the best service and so on.
So which types of trading accounts are there?
The diversity of trading accounts group is up to the mediator trading. There are companies that believe in the principle of “one size fits all” and therefore offers these brokers to their customers the type and only one account. There are also brokers have five or more types of trading accounts that they offer within their offerings. And Znserd The following are the most important types of trading accounts that exist.
It was very popular in the past, but it began to fade at the moment. The main idea behind the penny accounts is that it is calculated in US Cents deposits instead of the US dollar. In other words, the level of a cent account with a deposit of $ 1,000 means that the person has only deposited $ 10.
There are two main objectives of these accounts – testing automated trading systems without incurring a lot of money is simple and level up for a demo account for beginners.
The main feature of the accounts of the penny is simple – The requirements are very low minimum deposit. Typically, these accounts are loaded with any additional benefits do not come.
It is not always possible to broker trading integrate payment systems well so draw all the available trading platforms balance from one account book. It is the reason to own broker trading is often a private trading platform into its products offered to customers whose accounts.
The main advantage of these accounts is reflected in the provision of the trading platform is required. Therefore, it is very normal to see some trading brokers who provide a specific account of the MetaTrader 5 platform. However, this is not a separate product, but Binary Option Club Scam is one of the methods of work.
Still, most of the brokers more eager for the opportunity for customers to trading on one specific platform, and for this reason, they offer extra bonuses, and the differences are slim or less commissions for this platform price.
On the contrary, trading and broker excellence in a particular platform may wish, and make it accessible to professionals only. This is the case with most of the brokers in a minimum deposit of about $ 10,000 for accounts that come with certain privileges, usually in software.
It met with great popularity, like the penny accounts, but she took the other fade. Often brokers of shareholders in market share in the Russian countries and the Commonwealth of Independent States offers VIP accounts. The main idea for this account provide various ancillary services. Which include account manager is available around the clock and seven days a week, 24/7, through a dedicated phone line, the lowest price possible and commissions differences, personal analysis or even gifts iPad and iPhone devices.
Often trading broker in the treatment of clients starts as a VIP after deposits amounting to $ 10,000- $ 50,000. However, most of the benefits of these accounts are not of great benefit to traders professionals.
Often the broker does not offer the only standard account performances. Typically this account comes with a requirement to deposit the minimum low and does not contain any additives. In simple words, these accounts are almost the same but the penny account deposits only measured in dollars.
Such accounts usually come with the average width in terms of price differences and the commission, and the immediate implementation as well as a wide range of trading tools.
Deals – Pro accounts
Commonly use these types of accounts are also among the mediators. The main idea behind the Pro accounts provide a superior trading conditions somewhat, mostly on currency pairs. Typically, the broker provides the implementation of market orders through systems (NDD, ECN) for Pro accounts. Price differences also tend to be less low and commissions as measured by regular accounts. However, access to these accounts less. Where the minimum deposit is about $ 1,000.
Once you have chosen a broker Binary Option Club trading, it is certain that the idea of choosing a suitable type of trading accounts a good idea. Ideally, we should look for accounts that come without any interference from the trading desk. Then, shall determine the amount of money they are willing to deposit, you will not all types of accounts are available to you. Finally, check the financial instruments that are planning to trade and the conditions in which all types of accounts available.