Trading account types

On interactive brokers, for example, if a US trader has at least $110,000 in account equity, he is eligible to apply for a portfolio margin account.

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Account Types In The US, trading account types.

To maintain eligibility, account equity of at least $100,000 must be maintained. Other brokers may require a different amount. Also known as the HR10, this provides a pension plan for self-employed individuals.

Account types in the US

The trading accounts available to US traders are very different to those elsewhere. The growth of online trading – for income, growth, retirement – or a combination, mean more people than ever are trading. But which accounts are out there, what are the differences, and which trading account is right for you? Read on to find out.

From reg T and portfolio margin, to 401ks, pattern traders and retirement options, we explore US definitions and detail exactly what each account offers, and demands, for retail investors and traders.

Margin accounts

In US margin accounts, traders have two broad options to choose from:

Reg T

Portfolio margin

We explain both type of account below.

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Reg T

Regulation T, commonly known as “reg T”, governs how much credit securities brokers and dealers can extend to their customers in the US.

The initial margin requirement for the purchase of stocks under reg T is 50 percent, or up to 2x the equity value of the account.

This means that under reg T, a trader must purchase at least half the securities in the account with cash while half can be purchased on margin.

For example, if a trader wants to buy 100 shares of a $50 stock ($5,000 total purchase), under reg T he will be able to buy half of that with cash ($2,500) and the other half with money borrowed from the broker ($2,500).

Because margin accounts can expose traders to the loss of capital beyond their own equity, and dealing with leverage requires a certain level of sophistication, many brokers will require account minimums to open and maintain a margin account. This varies by broker.

Portfolio margin

Portfolio margin is a risk-based margin system available to qualifying US investors.

To be eligible, brokers will normally require at least $100,000 in account equity.

The basic standards applied by FINRA require at least $100,000 in equity for customers of brokers that have intraday real-time monitoring systems.

This increases to at least $150,000 for customers of brokers that lack intraday real-time monitoring systems.

For prime brokerage customers or for introducing brokers who execute clients’ trades away from the clearing firm, then at least $500,000 in account equity is required.

On interactive brokers, for example, if a US trader has at least $110,000 in account equity, he is eligible to apply for a portfolio margin account. To maintain eligibility, account equity of at least $100,000 must be maintained. Other brokers may require a different amount.

Portfolio margin aims to give more sophisticated traders the ability to better align margin requirements with the risk profile of the portfolio.

Typically, portfolio margin allows for a higher leverage capacity relative to traditional reg T requirements. Portfolios that are better diversified or maintain hedged trade structures can often reduce their margin requirements to less than 15 percent.

This means traders may have the opportunity to leverage their portfolios at 6x or more under portfolio margin.

Portfolio margin is based on the options clearing corporation’s (OCC) TIMS methodology. This works by setting the margin requirement to the maximum loss of the portfolio when stress-testing the allocation across a host of various hypothetical moves in the underlying markets.

The market move simulated depends on the nature of the underlying instrument(s). (the full list can be found on the OCC’s website.)

– “high capitalization” broad based indices are simulated over a -8 percent to +6 percent price range.

– “non-high capitalization” broad based indices are simulated over a -10 percent to +10 percent price range.

– sector indices are simulated over a -15 percent to +15 percent price range.

– individual equities are also simulated over a -15 percent to +15 percent price range.

– leveraged etfs and inverse etfs will be bucketed according to where they fall above (i.E., sector or broad based) and multiplied by their stated leverage. For example, if the ETF follows a particular sector and is leveraged 3x, then it will be simulated over a -45 percent to +45 percent price range. (and would thus face a similar margin requirement to reg T.)

Once the profit and loss scenarios are taken across each group of instruments, “offsets” are then applied to determine the final margin calculation. Offsets are set by the

OCC and measured based on the degree of correlation between securities.

There are 28 total product offset groups and each has its own offset percentage. For example, a profit in a NASDAQ ETF can help offset the loss in a S&P 500 ETF since both represent the same asset class.

Single stock positions that don’t qualify for index inclusion do not receive the benefit of any profit/loss offsets. Accordingly, a portfolio of single stock positions must maintain a minimum margin requirement of 15 percent.

After the offsets are applied, then profit and loss estimates can be determined based on each market move to set the margin requirement, which is updated dynamically in real-time.

Pattern day trader account

A pattern day trader is a special FINRA designation when the following conditions are met:

(i) the trader executes four or more day trades (i.E., buys and sells securities intraday) within five business days

(ii) trades in a margin account (cash accounts are not eligible)

(iii) such trades are more than six percent of the customer’s overall trading activity over the measured five-day period

(iv) maintains an equity balance of at least $25,000 (balance above a certain threshold is used as a proxy to denote a trader’s level of sophistication)

The pattern day trade rule is in place to discourage investors from trading too frequently. If the amount of equity in the account drops below $25,000 then the trader can no longer execute day trades until the equity balance is brought back above that level.

A pattern day trader is also eligible for lower margin requirements than the standard 50 percent provided by reg T.

For example, if an investor under the pattern day trade rule has an account equity value of $50,000, then he is eligible to purchase up to $200,000 worth of stock. This is higher than the normal $100,000 that could be executed under traditional reg T rules.

If the value of these stocks increases by two percent in one day, he would be eligible to gain eight percent due to the greater margin availability (not factoring in margin costs accrued on that particular day).

Accordingly, the pattern day trader designation can be attractive for certain investors. Nonetheless, the extra leverage cuts both ways and can lead to higher potential returns but also higher potential losses.

Retirement accounts

A retirement account often serves as part of a broader retirement plan that will allow an investor to replace their employment income upon retirement.

These accounts may be set up individually or by employers, unions, the government, insurance companies, or other institutions.

To encourage responsible investing and retirement planning, some national governments have sponsored tax-deferred or tax-exempt plans.

In the US, the most popular options include the 401(k) and individual retirement account (IRA).

We’ll briefly cover the major plans below:

The 401(k) is the most popular defined-contribution pension account in the US.

Retirement savings are provided by an employer after deducting them from an employee’s paycheck before taxation. Accordingly, these savings are tax-deferred until withdrawn after retirement. As a perk, some employers will match employee contributions up to a certain percent.

As of 2020, an individual can contribute up to $19,500 in pre-tax earnings to the 401(k).

Traditional IRA

Contributions to the traditional IRA are made with pre-tax assets and are typically tax-deductible. Transactions and earnings (i.E., dividends, interest, capital gains) within the IRA have no impact on tax outcomes.

Withdrawals upon eligible retirement age are taxed as ordinary income, with “retirement age” considered the year in which the taxpayer turns 59-1/2 (otherwise a 10 percent penalty is applied to any withdrawals).

The individual savings account (ISA) can be thought of as the UK-equivalent.

Roth IRA

Contributions are made with after-tax assets. Withdrawals are normally tax-free.

As of 2020, $6,000 could be contributed annually to traditional and roth iras combined, or $7,000 if 50 or older.

Individuals who make beyond a certain amount of money per year are not eligible to contribute to a roth IRA. This stood at $139,000 as of 2020, with contribution allowance tapering starting at $124,000.

SEP IRA

SEP iras are used by business owners to offer retirement benefits to themselves and their employees. They are commonly used by self-employed individuals with no employees as the administration costs are minimal.

For any business owner with employees, each individual employee must receive the same benefits as directed under the SEP plan.

SEP accounts are treated the same as iras, and therefore funds can be invested the same way as for an IRA. They allow for retirement contributions made in an employee’s name rather than the extra administration involved in setting up a pension fund in the company’s name.

Roth 401(k)

Introduced in 2006, the roth 401(k) is basically a 401(k) with the tax features of a roth IRA.

A 403(b) is similar to the 401(k), but is reserved for certain entities, such as religious institutions and non-profit workers.

401(a) and 457 plans

Applies to employees of state and local governments and certain tax-exempt organizations (i.E., non-profits).

Keogh plan

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Bonus rescue tiers

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30% for R30,000 +

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Useful links

Trade245 is a product of red pine capital (PTY) LTD, johannesburg, south africa, with company number 2014/220311/07 an authorized financial services provider, licensed and regulated by the financial sector conduct authority (FSCA) in south africa, with FSP no. 46044.

Trading on margin involves a high level of risk, including full loss of your trading funds. Before proceeding to trade, you must understand all risks involved and acknowledge your trading limits, bearing in mind the level of awareness in the financial markets, trading experience, economic capabilities and other aspects.

Please note that trade245 does not provide services to US residents.

The registered address is located at st andrews office park block A, 39 wordsworth avenue, senderwood, gauteng, 2007, south africa.

Trade245 (red pine capital (pty)ltd) acts as intermediary between the investor and marketfinancials limited, the counterparty to the contract for difference purchased by the investor via trade245, authorised and regulated by the financial services authority of seychelles with security dealer license no. SD006.

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Types of trading accounts

A trading account is similar to a traditional bank account. The only difference is that this account holds your financial securities like bonds, shares etc. And, you can conduct direct transactions in securities via a trading account. It is used to place buy or sell orders in the stock market, and investors can open trading accounts with their brokers to perform trades. Let’s run through a detailed guide on what is a trading account before understanding its types.

A trading account is similar to a traditional bank account. The only difference is that this account holds your financial securities like bonds, shares etc and that you can conduct direct transactions through a trading account.

After you have chosen a broker, you need to fill the KYC form for opening the account.

In a margin account, the client can borrow funds from their broker for trading.

How to open a trading account?

First, you need to find a broker. Some research will be required because a good broker will pave your way to success. There are two kinds of brokers- full-service and discount brokers. A full-service broker provides services like tax and retirement planning along with trading. Discount brokers are the ones who provide trading services at minimal cost, but they don’t provide any additional facilities.

Remember to compare the brokerage rates. Every broker charges some commision for every trade and it varies from broker to broker.

After you have chosen a broker, you need to fill the KYC form for opening the account. It can be offline or online depending on the type of brokerage service you have chosen.

The KYC application needs to be submitted along with identity and address proofs like, PAN card, passport, voter ID, etc.

After the application is verified, you will be provided with your account details.

Different types of trading accounts

Trading accounts came in multiple varieties, tailored to the type of usage you wish to indulge in.

With a cash account, the client must pay the full amount of all the securities purchased. All the money and securities in a cash account belong to the client and they cannot borrow funds from their brokers for the transactions.

In a margin account, the client can borrow funds from their broker for trading. This gives them an edge as they can now buy more securities than they could with sole funding. A certain level of risk is involved in this, since if the securities you bought lose value, your broker will call you to submit the securities or cash immediately to the account. They can also sell your securities whenever they wish to cover up for the loss.

Equity and derivatives trading - A derivative is a type of contract whose value depends upon some other agreed upon security or asset. This type of account is opened with the trading member of the stock exchange.

Commodity trading account - the commodity market is a place in which trading occurs in primary economic products instead of manufactured products. Hence the trading account which helps in buying/selling of such primary economic products (like agricultural produce, gold, oil, etc.) is called a commodity trading account.

Share trading account facilitates the buying/selling of shares. No other trade can be performed through this account - although there are multiple types of share trades you can execute.

Option account - an option is a contract that gives the seller/buyer an option to sell/buy a security at a specific time and rate. This account can be opened only if the broker is satisfied that the net worth of the investor is high.

A trading account is like a normal bank account but is used to buy/sell financial securities.

It is important to find the right broker with whom one can open a trading account.

Different types of trading accounts are available according to the needs of the investor.

Account types – day trading accounts explained

Trading accounts, and account types, can vary immensely between different brokers. From cash and margin accounts, to retail or professional accounts, the best choice is not always clear. Here we explore all the account options, including some of the broker specific “VIP” or “gold” accounts and explain your options.

Best trading accounts

Retail trading accounts

In the main, retail traders are individual traders with no direct working experience of day trading and they often rely on the knowledge and education picked up from broker sites. Most retail traders will conduct trades with their own cash and may trade a variety of equities, such as stocks, forex or options.

When it comes to the different trading accounts available to retail traders, shopping around for the most appropriate online broker is essential. Different brokers apply varying platform charges, and these may include a fee for use of the platform or commission per trade.

Costs of trades are often built into the buy and sell ‘spread’, and are not seen as fees.

Many platforms also provide regular buying tips and a useful knowledge base which can broaden the education of retail traders.

ESMA limits

The european securities and markets authority (ESMA) has imposed a variety of limits on retail traders in an attempt to reduce losses. These include leverage limits of:

30:1 on all major currency pairs (forex accounts)
20:1 on the major indices or gold
10:1 on all commodities excluding gold
5:1 on shares
2:1 on cryptocurrencies

These limits will only apply to trading accounts in the EEA, using a broker regulated in europe. Popular trading regions classed as ‘non-regulated’ by ESMA include singapore, australia, india and canada – they are still well regulated regions, just not under the ESMA jurisdiction.

Bronze, silver, gold levels

Retail traders will find that different broker brands offer various incentives to frequent traders, and these generally relates to the level of account. For example, traders achieving their broker’s bronze, gold or VIP status accounts will have different terms and conditions to other traders.

This could provide reduced rates for trades, access to a premium server with higher speeds, or perhaps a dedicated account manager. All these perks can be a valuable account incentive for day traders, however, they are still not equivalent to being offered a professional trading account.

It’s also possible to set up a cash account or a margin account.

Cash accounts explained

Cash accounts are limited, so traders can only utilise the funds deposited to the account. These can be very useful for beginner traders as they will prevent any loss of unaffordable capital.

Trading on margin

If you open a margin trading account, you will be given a credit line by the broker. This can help increase any potential gains, but also means traders run the risk of losses that may not be affordable. These types of account are usually governed more strictly, as most brokers request a minimum investment prior to any margin trading. It’s also possible that a margin call may be made by the broker in which a higher deposit is demanded to cover any potential cash losses.

Professional trader accounts

Professional trading accounts are only available to traders with proven levels of expertise and a certain amount of available investment capital, usually a minimum of £500,000. With these accounts, the european securities and markets authority (ESMA) restrictions are removed and traders can leverage funding of up to 1:5,000 for a variety of trades. However, it’s important to note that there is no form of regulatory protection in place for professional traders.

It is assumed these experienced investors can manage their own affairs and choices with regulatory limits. This includes the ability to trade higher risk products, such as binary options.

No restrictions outside of europe

For the avoidance of any doubt, it should be noted that ESMA restrictions only apply within the EU, so leverage levels in non-european and non-regulated jurisdictions are unaffected.

This is the reason many european brokers made the decision to move offshore after the stringent leverage regulations introduced by ESMA. Brokers offering binary options have traded offshore for many years and many forex and CFD brokers are now following suit.

Brokers offering leverage as high as 1:1,000 tend to be based in the australian region (regulated by ASIC), the seychelles and belize. Retail traders will discover it’s advisable to start trading at leverage levels of around 1:10 or 1:25 in the first instance, in order to minimise potential losses.

Ways to avoid ESMA limitations

As already noted, switching to brokers based in locations that are not impacted by EU legislation is one way to avoid the leverage requirements set by ESMA. It should be recognised, though, that these regulations were put in place to protect retail traders and reduce financial risks. Traders should definitely not feel tempted to move to unregulated brokers in order to avoid leverage rules, as this is unsafe and there are other options.

One option is to find out whether your current broker already has offshore or non-EU subsidiary brands. Many brokers have lots of regulated brands under their “umbrella”, so moving your retail account to a jurisdiction outside of the EU or offshore is quite possible. You will just need to get in touch with your existing broker to find out more about any other brands they operate within acceptable locations.

Another option is to look at the new products and alternative products launched to the market. For example, IQ options launched FX options at the time the binary options trade was banned in the EU and this is very similar in character.

Finally, retail traders looking for a way to avoid the ESMA bans could look to become professional traders. Not all retail traders will have this ability, but the downside of becoming a professional trader is that no regulatory protections are in place.

Professional traders will need a minimum of two years’ trading experience in a relevant financial role and a minimum level of available funding, generally around £500,000, but this can be split between several accounts. Achieving professional trader status means higher leveraging options will open up on binary options, forex and cfds.

Other account types

Some of the other types of trading account on the UK market include PAMM accounts and micro trading accounts.

PAMM accounts

PAMM accounts are used for forex trading and are an ideal solution for time-poor investors. These accounts utilise a shared pool of cash for forex trading. Trades are conducted by experienced traders and investors can generally choose the trader they want to handle their capital.

PAMM stands for ‘percentage allocation module management’. This model spreads the sizes of trades relative to the allocation percentage.

A MAM account does something similar, but allows the fund manager to manage multiple trading accounts.

Micro trading accounts

Micro trading refers to lower transaction trades in cfds and currencies. They are a good way to begin trading in forex and for experienced traders who don’t have much time to devote to transactions. Smaller lot sizes and margin requirements makes them attractive for beginners or those new to trading a particular market.

Demo accounts

We have a full page on demo accounts. The perfect starting point for most traders. Any brand worth their salt will offer a free demo account, so take advantage and try as many as you like before choosing the best live account.

Managed accounts

Managed accounts, particularly forex managed accounts, can be a risky area. Handing trading responsibility to someone else is fraught with danger. If that person is also employed by the broker, there is a conflict of interest too. Beware of false promises, or guarantees of instant wealth.

PAMM and MAM accounts are less risky, as they are regulated more stringently and the conflict of interest is removed due to brokers making money based on volume rather than losing trades.

Some high level accounts, such as VIP accounts, may involve an account manager – but this is not the same thing as a managed account.

Copy trading and social trading are not really managed accounts, though they can facilitate automated trading.

In general, it is best to take responsibility for your own trading.

ECN accounts

An ECN account gives you as a trader direct access to the markets, without going via a market maker (as most brokers are). This generally means the tightest spreads, but also means complex trading platforms. IC markets are an example of an ECN broker.

DMA – direct market access

A DMA account is very similar to an ECN account – as the name suggests, you get direct market access – but ECN trades are placed direct to the market via an anonymous network, whereas DMA accounts have contracts with a specific liquidity provider.

Account types

Choose an account type to match your trading style and portfolio size.

At FXPRIMUS, we understand that each of our traders has a unique investment size, portfolio type, and individual trading strategy. We address the needs of all our traders by creating a range of account types that will complement your every trading requirement.

About the FXPRIMUS DEMO ACCOUNT

The FXPRIMUS demo account offers novice traders the opportunity to hone their trading skills using our bespoke platforms in order that they can become successful and confident traders. Experienced traders are also welcome to test drive our demo account to experience first-hand our award-winning safe trading environment. All new traders will have the chance to navigate our MT4 trading environment via our webtrader which doesn’t require any downloads and can be accessed from any device with simply an internet connection.

About the FXPRIMUS variable account

Trade forex, commodities, energies and indices via our FXPRIMUS variable account, and discover our live safe trading environment. As a variable account holder, you will have access to unlimited free educational resources, helping you to make informed trading decisions, plus a range of exclusive trading tools available to FXPRIMUS traders only. Variable account holders also benefit from commission-free trades.

About the FXPRIMUS ECN premium account

The FXPRIMUS ECN premium account is for clients with an investment size greater than USD 500. We offer unlimited access to all of our exclusive offerings including SMS updates and trading signals, helping the trader to make timely decisions. The ECN premium account holder is also supported with his or her trading strategy with access to a weekly informative financial trading seminar and lowest spreads starting from 0.1

Lightning fast execution

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Personalised,multilingual

Access to award-winning

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Insurance up to 2.5 million EUR

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This website is operated by primus markets INTL limited, a member company of the FXPRIMUS group.

FXPRIMUS is the brand name used by:
primus global ltd, regulated by cysec, with licence no. 261/14.
Primus markets INTL limited, regulated by VFSC, with registration no. 14595.
Primus africa (pty) ltd, regulated by FSCA, with licence no. 46675.

Risk warning: please note that forex trading and trading in other leveraged products involves a significant level of risk and is not suitable for all investors. Trading in financial instruments may result in losses as well as profits, and your losses can be greater than your initial invested capital. Before undertaking any such transactions, you should ensure that you fully understand the risks involved and seek independent advice if necessary.

This information is not directed or intended for distribution to or use by residents of certain countries/jurisdictions including, but not limited to, australia, belgium, france, iran, japan, north korea and USA. The company does not offer its services to residents of certain countries/jurisdictions including, but not limited to, australia, belgium, france, iran, japan, north korea and USA. The company holds the right to alter the above lists of countries at its own discretion.

Get started risk warning: trading on margin products involves a high level of risk , which may result in the loss of all invested capital.

Risk warning: trading on margin products involves a high level of risk , which may result in the loss of all invested capital.

Типы торговых счетов

Что такое торговый счет?

Чтобы начать торговлю на форекс, необходимо открыть счет у брокера.

Торговый счет схож с банковским. Он также используется для хранения, пополнения и вывода средств. Трейдеры используют разные платежные системы, чтобы пополнить и снять средства. Полный список систем, доступных для клиентов justforex, можно найти на странице "пополнение и снятие".

Торговые счета позволяют совершать сделки с различными финансовыми инструментами. Список этих инструментов варьируется в зависимости от типа счета. Здесь вы можете узнать больше об особенностях каждого инструмента.

Для неопытных трейдеров или тех, кто хочет протестировать свои стратегии, justforex предоставляет возможность открыть бесплатный демо-счет. Демо-торговля – это симуляция реальной торговли на форекс, которая предназначена для практики и обучения. Демо-счет не требует инвестиций, что позволяет получить опыт в онлайн-трейдинге, практические навыки работы в metatrader и проверить свою стратегию без каких-либо рисков.

Процесс торговли на демо-счете идентичен торговле на реальных счетах. Графики показывают реальную ситуацию на рынке форекс. Единственное различие в том, что вы торгуете виртуальными деньгами. Ваш демо-доход показывает потенциальную прибыль, которую вы можете получить на реальном счете с теми же условиями. При открытии счета, вы можете самостоятельно установить начальный баланс.

Вы можете начать виртуальную торговлю на любых типах счетов justforex:
standard cent, standard, pro или raw spread. Вы также имеете возможность протестировать торговые условия брокера и выбрать наиболее подходящий для вас счет.

Когда вы достигнете успеха на демо-счете и почувствуете себя уверенно, начинайте торговать на реальном счете.

Standard cent

Standard cent счет разработан специально для трейдеров-новичков. Если вы потренировались на демо-счетах, но все еще не готовы начать торговать на реальных счетах с большим депозитом, standard cent счета отлично вам подойдут. В отличие от других счетов, баланс на этом торговом счете отображается в центах. Таким образом, ваша собственная торговая стратегия, которая принесла прибыль на демо-счете, может помочь вам заработать на standard cent счете.

Отличная возможность улучшить навыки управления капиталом. Небольшая сумма денег больше всего подходит для этой цели.

Идеальный способ отточить на практике управление рисками.

Возможность почувствовать все эмоции торговли на реальные деньги, но с меньшими рисками.

Инструмент для проверки форекс советников.

Возможность оценить торговые условия justforex.

Счет standard cent имеет много общего со standard счетами. В то же время, из-за более низких рисков, этот счет позволяет вам постепенно и уверенно изучать основы торговли.

После того, как вы преуспели в торговле на центовом счете, можете перейти на счета типа standard, pro или raw spread.

Standard

Счет типа standard является самым популярным среди трейдеров. В дополнение к высокому кредитному плечу, счет standard включает в себя базовый набор необходимых опций: узкие спреды от 0,3 пункта и отсутствие комиссии. Stop loss и take profit можно установить как при открытии, так и после выставления ордера. Счет standard можно использовать для торговли на дневных графиках и для не агрессивной торговли внутри дня. Вы можете выбрать любую стратегию для торговли на этом счете.

Счет pro предназначен для опытных и профессиональных участников финансовых рынков. Трейдеры могут использовать любой стиль торговли на счетах pro. Этот тип счета характеризуется узкими спредами, высоким кредитным плечом, отсутствием комиссии и отсутствием ограничений на количество ордеров и объем позиций.

Основным преимуществом счета pro является широкий спектр торговых инструментов: более 50 валютных пар, индексов, металлов и сырьевых товаров. Вы можете реализовать все свои торговые и инвестиционные идеи.

Raw spread

Raw spread счет дает вам возможность почувствовать всю динамику торговли. Те участники рынка, которые предпочитают внутридневную торговлю, частые входы и выходы, работу на младших таймфреймах, часто выбирают именно этот тип счета. Он считается лучшим для скальперов. На этом типе счета взимается комиссия за сделки, но зато спред – плавающий, от 0 пунктов, тогда как на других счетах он намного выше. При торговле на этом счете вы получаете весь спектр доступных финансовых инструментов.

Исламские счета

Для мусульман justforex предоставляет исламские счета. Закон шариата запрещает работу со счетами, на которых присутствует своп. В связи с этим были созданы специальные торговые счета без свопа.

Своп – это комиссия, которая взимается за перенос открытых позиций на следующий день. С помощью исламских счетов трейдеры могут держать сделки открытыми неограниченное время, без начисления комиссии в размере свопа. В этом случае, на результат торговли может повлиять только изменение валютных курсов за определенный период времени.

Исламские счета – это дополнительная опция. Чтобы перевести свой standard cent, standard, pro или raw spread счет в группу swap-free, необходимо обратиться в службу поддержки.

Forex training group

The names used to describe forex broker account types available to a trader vary among the many different online brokers, although most of them will offer a variation on certain basic themes to their clients.

Since different account types may be aimed at benefitting certain trader types — as well as the size of the account they have to trade with — it is quite important to choose the best forex broker account for the particular needs and resources of the individual trader.

Most forex online brokerages will allow the client to open a spot forex trading account that is either a demo account or a funded live account that might offer different features depending on the level of the initial deposit made.

To check a broker out without committing any funds, a trader can usually open a brokerage account with virtual money. This is known as a demo account and it allows the trader to evaluate the brokerage firm’s services and their trading platform.

In addition, the demo account allows a trader to test their trading strategy out without any commitment of funds as would be required in a live forex trading account. In fact, the forex demo account has become one of the most popular features offered by online brokerage firms.

Once a trader is comfortable with using a brokerage firm they have researched and evaluated in a demo account, they can then move on to deposit funds into a live account so they can trade with real money.

Online forex brokers typically offer a variety of account types when the trader is ready to commit to a funded forex trading account and these live accounts tend to fall into a few basic categories.

The following sections will describe what features forex trading accounts might have and will discuss the basic types of forex trading accounts available at most of the top online forex brokers.

The two primary forex broker account types

You can easily divide the basic types of forex broker account types into two primary categories. The first category is the forex demo account, which is an account that uses virtual money so that the trader takes no monetary risk when trading. The second type is the live forex trading account, which is funded with real money and can result in actual gains and losses for the trader. These two main account types are described further below.

Forex demo account – A forex demo account allows the trader to test their trading plan for profitability, drawdowns and other performance measures. It also allows a trader to evaluate the brokerage firm offering the account without the commitment of actual funds. Most online brokerages will let you open a demo account without any obligation by providing a minimal amount of personal information. These practice accounts often have a limit in terms of how much virtual funding is provided, as well as a time limit after which the demo account will expire and require the trader to create a new one or switch to a live account.

Live forex trading account – A live forex trading account can typically be funded with anywhere from $50 to whatever limit the online forex brokerage has placed on client deposits. Once the live account is opened and funded with real money, the trader can then initiate and liquidate trades in the forex market. Depending on the type of account chosen and its capitalization, the trader might be able to trade currency pairs in full lots, mini lots or micro lots.

Most prudent traders will test out an online forex broker, its trading platform, execution service and other perks using a demo account first before creating a funded account if the broker’s performance turns out to be satisfactory.

What tends to differ among live forex trading account types

Different online forex brokers tend to offer different perks and services that might either be useful to a trader or not. When a trader is contemplating using a particular broker, they should go through the services offered and see whether all of the services they require are provided, and then take some time to determine whether any of the additional services offered might be useful either in the present or perhaps in the future.

The following list includes some of the ways in which live forex trading accounts tend to differ both between brokers and between accounts offered by the same broker. Make sure to review a broker’s list of services thoroughly for any live account you may be considering opening to assess whether they are sufficient and appropriate for your needs.

Initial deposit amount – the initial deposit amount is one of the key factors that online forex brokerages take into consideration when a forex trading account is opened. Most online forex brokers will offer VIP or special accounts when the initial deposit is substantial. These accounts will offer the client more services and features than the standard account, which generally requires a lower initial deposit, or a micro account that usually requires only a nominal amount to open up.

Dealing desk access – access to a dealing desk can be an advantage for traders wishing to obtain directional, flow and other market advice from professional customer service dealers. The availability of this feature will depend on the type of broker and the type of account you open, with higher level accounts more likely to offer this feature. If the broker is an ECN or electronic communications network broker that allows you to trade directly with the interbank market using an electronic platform, then you will generally not get dealing desk access, although you might be able to speak to market professionals to get advice. On the other hand, if the broker is a market maker that takes the other side of your trades, they might well have a dealing desk with sales staff that you can speak to directly and deal with over the telephone.

Trading platform – an easy to use and navigate trading platform is of utmost importance to traders looking to maximize their trading speed and capacity. While most online forex brokers offer metatrader 4 or 5 as an option, many forex brokerages also offer their own proprietary trading platforms. The screenshot below shows a sample view of a metatrader 4 dealing screen that also includes charts, indicators, spot quotes for a variety of instruments and position information.

Figure 1: A screenshot of the metatrader 4 forex dealing platform.

Analytics – in addition to the many technical indicators offered on the metatrader trading platform, many brokers offer signal generators and other forms of analytical trading tools that can be very helpful to use when timing the initiation and liquidation of forex positions.

API access for automated trading – an API or application programming interface enables a software program to initiate and liquidate forex trades automatically when certain pre-specified market conditions are achieved. Such automated trading programs are also called “expert advisors” or eas when they run in the metatrader trading platform, but they can also be custom programmed to run in many other proprietary forex trading platforms using the broker’s API. This type of software is typically either available for programming by the trader or their programmer, or it comes preprogrammed as a black box from the developers that can sometimes allow a user to adjust and optimize parameters.

News services – many funded forex accounts include access to a business newswire service, such as reuters, which can appear as a scrolling news feed on the trading platform or somewhere else on the broker’s website. In addition, the metatrader trading platform includes its own market related news feed.

Minimum trade size – most forex brokerages have a minimum trade size which is known as the lot size and is generally expressed in units of the base currency. For example, standard lots are typically 100,000 units of the base currency, mini lots are usually 10,000 units of the base currency, and micro lots are 1,000 units of the base currency. Depending on the type of account, the minimum trade size will vary, with accounts requiring a higher initial deposit usually having a standard lot size while those with a minimal initial deposit offering micro lots as the lowest trading denomination.

Common types of live currency trading accounts

Most online forex brokerages currently offer four main types of accounts, with features that vary depending on the size of the initial deposit and suitable minimum trading units. One of these account types will generally fit most traders’ requisites for the size of trades and their overall risk profile. They are:

Micro account – the micro account usually lets traders open the account with a minimal initial deposit like $50 to $100. In addition, the minimum trade size is usually one micro lot or 1,000 units of the base currency. These accounts can be ideal for small traders or new traders.

Mini account – the mini account requires a larger initial deposit and has a minimum trade size of one mini lot or 10,000 units of the base currency. These accounts can be a step up for beginners, or they may suit those who need more control over their trade size.

Full account– these accounts are generally for more seasoned traders and have a higher initial deposit. The full account usually has a standard minimum trading size of 100,000 units of base currency, although some might allow traders to operate in mini lots as well.

VIP account – these are the premiere accounts for experienced, high volume traders with the largest initial deposits required. Such accounts often feature access to additional analytics, a personal advisor and the tightest dealing spreads.

Managed forex accounts

Managed accounts generally involve some sort of external management activity separate from the trader or owner that funds them.

The account types that fall into this category often require a substantial initial investment and are offered to people who do not wish to deal with the hassle of trading or trade decision making.

Five common types of managed accounts that are sometimes offered by online forex brokers include:

Individual – this is a personal account that is managed by the forex broker’s staff or software. It might also follow the broker’s proprietary “black box” trading signals. This type of account uses the client’s capital, but trades are initiated and liquidated by an account manager. Typically, the investor sets their goals and parameters in this type of account.

Pooled – with this type of account, money is deposited into a mutual fund with the funds of other investors, and profits are then divided among the participants. Pooled accounts can offer different risk/reward ratios, with higher returns hopefully seen for accounts with a higher risk/reward profile.

Discretionary – A discretionary account involves paying an account manager a fee and/or a percentage of profits to trade the account for its owner. These accounts generally require a large initial deposit and often have restrictions on withdrawals.

Social trading account – this account type is one of the latest innovations in forex trading. In a social trading account, a trader can selectively follow other traders with a good track record. Execution can be discretionary, where a communication is received about an expert trader’s new trade, or it can be automatic where the expert trader’s transaction is matched in currency pair and direction but can be scaled according to the owner’s wishes.

Automated – this type of account allows access to an API, which is available for automating trading activities. Automated accounts can be managed, or they can use the trader’s own parameters to initiate and liquidate trades.

A forex brokerage account comparison

Choosing the best forex broker account type to open will depend on a number of factors related to the trader’s experience level and how they wish to run their forex trading business.

If the trader wants to implement a trading plan and test it in a demo account, then opening a demo account with a broker that could match their performance in a live account would be the ideal situation.

A trader that has ample experience combined with a good size initial deposit and knows exactly what they want in a broker, trading platform and customer service features would probably opt for opening a full forex trading account after first trying the broker out with a demo account.

The trader must evaluate the features offered, the trading platform, and the broker’s dealer spreads. In addition, a trader must evaluate the broker model – whether the broker is an ECN, a market maker or dealing desk and decide which model best suits their trading goals.

If the potential forex trader does not want to get involved in the day to day market activities and prefers to let others work with their funds instead, then a managed or automated account would probably make the most sense.

A word of caution with managed or automated funds is warranted as your capital is always at risk whether the account is being managed by a professional or is trading on an automated system.

How to open a forex trading account with online brokerage firms

Ideally, you will want to open a brokerage account with a top forex broker. Many of the best brokerage firms offer multiple account types to choose from. Depending on the level of the initial deposit, many brokerages offer bonus incentives, such as additional capital to trade with. These bonuses are nice but not always substantial, with maybe a $100 bonus offered for an initial deposit of $5,000.

With that in mind, opening an online forex trading account with a broker is very easy, especially when opening a demo account. Typically, if you have metatrader 4 or 5 already downloaded then that will save you time, since the great majority of online forex brokers support this platform.

Once metatrader is downloaded, the trader can open a demo account with the broker of their choice, or they can open multiple demo accounts with more than one broker.

After building confidence in the broker’s platform, pricing and dealing features using the demo account, the trader can then proceed to open a live account that will usually involve filling in an online form and providing identification required by the broker.

Many seasoned traders will begin by funding the account with the minimum amount of capital to see if the broker’s live performance meets that of its demo account, as well as to see whether the broker allows order slippage or uses requotes. Testing the broker’s fund withdrawal policy can also make sense to make sure that funds are returned promptly upon request.

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Account types – day trading accounts explained

Best trading accounts

Retail trading accounts

Costs of trades are often built into the buy and sell ‘spread’, and are not seen as fees.

Many platforms also provide regular buying tips and a useful knowledge base which can broaden the education of retail traders.

ESMA limits

The european securities and markets authority (ESMA) has imposed a variety of limits on retail traders in an attempt to reduce losses. These include leverage limits of:

30:1 on all major currency pairs (forex accounts)
20:1 on the major indices or gold
10:1 on all commodities excluding gold
5:1 on shares
2:1 on cryptocurrencies

Bronze, silver, gold levels

It’s also possible to set up a cash account or a margin account.

Cash accounts explained

Cash accounts are limited, so traders can only utilise the funds deposited to the account. These can be very useful for beginner traders as they will prevent any loss of unaffordable capital.

Trading on margin

Professional trader accounts

It is assumed these experienced investors can manage their own affairs and choices with regulatory limits. This includes the ability to trade higher risk products, such as binary options.

No restrictions outside of europe

For the avoidance of any doubt, it should be noted that ESMA restrictions only apply within the EU, so leverage levels in non-european and non-regulated jurisdictions are unaffected.

Ways to avoid ESMA limitations

Other account types

Some of the other types of trading account on the UK market include PAMM accounts and micro trading accounts.

PAMM accounts

PAMM stands for ‘percentage allocation module management’. This model spreads the sizes of trades relative to the allocation percentage.

A MAM account does something similar, but allows the fund manager to manage multiple trading accounts.

Micro trading accounts

Demo accounts

Managed accounts

PAMM and MAM accounts are less risky, as they are regulated more stringently and the conflict of interest is removed due to brokers making money based on volume rather than losing trades.

Some high level accounts, such as VIP accounts, may involve an account manager – but this is not the same thing as a managed account.

Copy trading and social trading are not really managed accounts, though they can facilitate automated trading.

In general, it is best to take responsibility for your own trading.

ECN accounts

DMA – direct market access

Account types

Choose an account type to match your trading style and portfolio size.

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Get started risk warning: trading on margin products involves a high level of risk , which may result in the loss of all invested capital.

Risk warning: trading on margin products involves a high level of risk , which may result in the loss of all invested capital.

So, let's see, what we have: from pattern traders to 401k and reg T, US traders have many account types to figure out. So which trading account is best for US traders? Find out here at trading account types