Real forex account

Every trader has to learn risk management strategies in real-time trading. However, traders who are able to judge the potential of the market can avoid considerable risk to lose money.

No deposit forex bonuses

Several risk management strategies can be used to switch your trade to earn profits. In this regard, you should make trade with particular trading plans. This will protect you against the emotional state of mind. Open your real forex account and start trading from today itself!

Real forex account

People who are fantasizing to do trade in forex should start with a demo account. In fact, real forex account can be opened after you get a considerable knowledge regarding how to trade. This is because demo accounts are offered to new traders to do free trading with virtual money. If you wish to learn trading, then it is much better to opt for a demo account.

How to open forex trading account?

When you are willing to go through real-time forex trading, it is absolute that a trader requires real accounts. In order to open real forex account, you have to reach reliable forex brokers. There will be some criteria to be fulfilled to open an account. If you are eligible, then you need to submit a few documents as your valid identification of the nationality. There is no reason to worry; forex brokers will explain how to open forex trade account.

Registration process:

Your registration process will start after the submission of valid documents like age proof, address proof, occupation details and bank statements. When the process gets completed, you will receive a confirmation through e-mail and message. This suggests that your account has been opened, and you can start your trade online.

Benefits of forex trading account:

Beginners should know that you have to trade on different lots. With the availability of different types of accounts, one can choose among micro, mini, standard, premium and others. Some of the benefits of trading accounts include:

You can earn from home

With a minimum investment of money, one can make potential profit

One can choose forex trading as part-time practices

Full-time traders can start their business in forex

Anyone can make a trade with appropriate knowledge of forex market. In this prospect, it is important to know the difference between demo and real accounts.

Difference between demo account and real account:

Beginners should start their trading journey with a demo account. Experts and professionals advise novice forex traders to gain considerable knowledge through demo accounts. Check some of the difference between these accounts:

Real accounts are used for real-time trading while demo account depends on virtual trading.

Demo accounts have all the similarities related to real accounts. In fact, the traded money is the only difference that is virtual (no real money) in demo account.

With real accounts, you can make profits. But demo accounts will not offer any profitable outcomes in terms of money.

People who are interested in making a profit should reach reliable broker and know how to open forex real account.

Risk and caution in real-time trading:

Every trader has to learn risk management strategies in real-time trading. However, traders who are able to judge the potential of the market can avoid considerable risk to lose money.

“why to take risks when you have options?”

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of liteforex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of directive 2004/39/EC.

Real money forex account

With an average daily turnover of more than $5.1 trillion, the foreign exchange market is the largest financial market in the world. Available to both institutional and retail traders, it gives them the opportunity to trade a huge variety of currency pairs and to make substantial profits while speculating on economic events and the relative strength of currencies. To enter this exciting business field, however, retail traders need to sign up with an online forex broker and open a live, real money account.

Most forex brokers offer two main types of accounts – demo accounts and real money accounts. Demo accounts are mostly used to try out different strategies and tactics or to get familiar with the trading platform used by the broker. On the other hand, real money accounts allow you to really participate in the forex market. When you open a real money account, you will have to deposit money in it in order to be able to start making trades.

Best forex brokers for united kingdom

While demo accounts and simulated trading do not involve any actual money, trading from a real money account without the proper knowledge and strategy poses a real financial risk. This is why prospective traders who wish to enter the world of forex should be aware of the dangers they will face once they start trading with their own money.

When to open a real money forex account

If you have never traded on the forex market before it is a good idea to start with a demo account until you get familiar with the market and the trading platform your broker offers. Of course, many novices decide to directly start trading with real money and in most cases, they end up losing their initial investment. Trading currencies is difficult and requires knowledge, skill, and experience – after all, there are more losers in the world of forex than there are winners.

This is why it is essential to know when you are ready to open a live account – until you develop a solid, reliable and profitable system for trading, you should stick to practicing with a demo account. Some traders claim a couple of weeks are sufficient for beginners to learn the mechanics of currency trading. Others believe that this “pretend” trading should continue for anything between 3 and 12 months.

The truth is that some traders never become successful even if they practice for years, whereas some people find it easy to understand the inner workings of the foreign exchange market. Those who want to succeed in this field in the long term should know that if they are not capable of making profitable trades with a demo account, they will certainly lose their investment once real money and emotions are involved.

Things to consider when signing up

Once traders decide to transition from demo accounts to live trading with real money, they need to take a few things into account – what type of trading account they will need, what payment options they have, and how to protect themselves from financial ruin. Depending on the forex broker they choose to sign up with, they will be offered different trading conditions, although most real money accounts are pretty similar to each other.

It is always a good idea to read the broker’s terms and conditions and make research into the origins of the firm, whether it is regulated, and its overall reputation. This is an essential step, especially with fairly new forex brokerages. Many traders have been scammed in the past, so it is advisable to try and stick with reputable brokers who have proven their reliability and trustworthiness over the years.

Account types

As we have mentioned above, forex trading can be exceptionally exciting and profitable but to be successful, individual traders need to compete with large banks, hedge funds, and other institutional traders. For this, they need to select the right type of account for themselves since this will directly affect the volumes they will be able to trade, the spreads they will pay, and the level of leverage they will be able to take advantage of.

Based on the minimum and maximum requirements for trading lots, there may be many different account types – standard, mini, micro or VIP accounts, professional accounts, etc. Brokers have different tiered programs for their clients but usually, most traders start with the smallest possible account. This allows them to invest relatively small amounts of money and make small-sized trades.

The different types of accounts have different requirements regarding the initial capital held by the trader, the margin percentage, the minimum required deposit, etc. They also affect the pricing – smaller-sized accounts usually come with higher spreads even on major currency pairs

Banking

Another important aspect of real money accounts is banking – what payment options are available, how much the minimum deposit is, etc. In order to invest in a real money forex account, traders need to check the payment methods accepted by the broker.

Most brokers work with bank transfers, credit cards, and digital wallets. Popular banking solutions include credit and debit cards by leading brands such as amex, visa, and mastercard or e-wallets, including skrill (formerly moneybookers), neteller, and paypal. Some brokers’ websites also process bitcoin deposits and withdrawals. Various other cryptocurrencies are gaining popularity, as well.

However, not all payment methods would support withdrawals, which is why traders should always check the deposit and withdrawal options available. In addition, forex traders need to check the minimum deposit amount that is required to open a real money trading account. It will vary, depending on the particular broker and the type of account one chooses to register. Beginner traders are advised to start with small deposits of $10 or $50 and gradually advance to higher-tier accounts that require greater minimum deposits.

Pricing

Using the services of a professional forex broker is not free, although registering a standard real money account is free of charge. Brokers used to impose fees on every trade but with the emergence of the internet and online forex brokers, firms began offering competitive pricing plans to new clients. One of these changes was the removal of these fees – this is specific to currency trading though, there are still different fees when it comes to stock trading, for instance.

Nowadays, most brokers make a profit from forex trades by making traders pay the spread – the spread is simply the difference in the price asked by the seller and the price offered by the buyer. Sometimes referred to as the bid/ask spread, it is displayed in pips and may range between 0.0 pips for institutional traders to more than 20 pips for trading exotic pairs by retail clients.

Pips (short for point in percentage) are the smallest price movements that an exchange rate can make for a particular currency pair. A pip is usually $0.0001 for major pairs involving the US dollar – if the EUR/USD moves from 1.1050 to 1.1052, for example, then this is a rise in the value of 2 pips. As you can see, paying 3 pips for a trade does not seem to be very costly but it may affect one’s profits significantly in the long term.

Leverage

Another thing traders must keep in mind about real money forex accounts is that they will be using leverage, which is among the most attractive and risky aspects of currency trading. In short, brokers offer leverage to their clients by allowing them to trade with borrowed funds. This money on credit is used to control larger volumes than one could afford normally with their own capital alone. For instance, if a trader has a capital of $100 and is offered 10:1 leverage, he or she could conduct a trade worth $1,000.

Traders often see this as a great opportunity to make a lot of money but they risk losing their entire investment in just one or two trades. Although leverage may multiply the profits from a successful transaction, it may also multiply one’s losses. This is why traders should use this powerful tool cautiously after determining the proper leverage level that suits the amount of capital and the tolerance for risk they have.

Risk management

Many inexperienced traders believe that in order to make the most potential profit out of each trade they need to take great risks. This is a common misconception that often leads to rushed decisions, unnecessary risks, and financial losses. In reality, one of the most important factors for being successful in the foreign exchange market is efficient risk management.

Risk management in forex is a highly debatable topic that involves different opinions on what proper money and risk management actually is. Since forex is associated with different types of risk emerging from unexpected market movements, use of leverage, etc., traders need to address various issues and protect themselves against dangers of varied nature.

Determine how much you can risk per trade

A common mistake in currency trading, especially among beginner traders, is risking more than they can afford to lose. Being too aggressive in the beginning would most likely lead to huge financial losses. Even if an aggressive trading strategy has worked perfectly with a demo account, there is no guarantee that it would be effective once traders open a real money account and put their money on the line.

This is why traders should carefully determine the correct position size beforehand and set a limit (in percentage or dollar amount) to the money they will risk on each trade. Most experts recommend that novices should risk no more than 1% of their account – for instance, those who have $10,000 in their account should not risk more than $100 per trade. Experienced forex traders often follow the 2% rule. This way, they can be certain that they would not lose a lot of money even if they make the wrong decision 10 times in a row.

Limit the leverage

Leverage is one of the most interesting advantages of forex trading since it gives traders the opportunity to multiply their potential profits from a successful trade. At the same, however, the use of leverage multiplies the potential losses, which is why beginner traders should try to limit the leverage they use.

For instance, taking a 400:1 leverage on a $200 account means you can place a trade for up to $80,000. With leverage of 10:1, the maximum trade that can be made will be $2,000. Clearly, the higher leverage increases the trader’s exposure to risk and if not used correctly, it could result in losing the entire account balance. To limit the risk, novices should stick to smaller leverage ratios such as 2:1, 5:1 or up to 10:1.

Stop losses

The foreign exchange market can move in an unpredictable way and this is more common than you think. This uncertainty is particularly dangerous to those who are just starting with the forex market because they may not have yet developed mechanisms to protect themselves against excessive losses. One of these mechanisms is known as a stop loss and it is a wonderful tool for limiting one’s financial losses – they cannot be prevented entirely, however.

The stop loss allows traders to close a losing position at some predetermined point. This point will be a specified amount of pips away from the entry price – for instance, if the price moves 50 pips away from the entry price, the stop loss triggers automatically and the trader limits the losses that could be incurred without this function. There are different types of stops in forex trading but the most common ones include equity stops, chart stops, margin stops, and volatility stops.

Negative balance protection

Significant economic events and sudden market movements may drastically affect the value of currencies. In forex trading, this is particularly dangerous because of the use of leveraged positions by the majority of traders. Due to the high volatility and the huge price fluctuations that may occur, traders can lose their entire equity. Moreover, they may lose more than they have in their account and their balance becomes negative.

When this happens, the forex broker will ask the client to deposit more money to cover the losses. In case no deposit is made, the brokerage firm will find legal ways to collect the money it is owed. For traders, this scenario certainly sounds unwelcome but it has happened multiple times in the past and it continues to occur in certain countries with inadequate financial regulations in place.

Brokers in the european union, however, are required to offer their clients the so-called negative balance protection. The measure became mandatory fairly recently but some brokers have introduced it more than a decade ago. It is an automatic response that triggers when clients’ open trades start losing very rapidly – they are automatically closed and the client’s balance is prevented from going below zero. In fact, the purpose of this measure is to protect retail traders even if the automatic close-out does not trigger (these close-outs are usually delayed). Overall, traders should always look for brokers who offer negative balance protection.

Take profit orders

Take profit (T/P) orders are commands that are quite similar to stop losses but they have the exact opposite purpose. Stop losses are designed to close a losing trade to prevent further losses, whereas take profit orders trigger automatically when a trade hits a predetermined level of profit. By closing a profitable position at a certain level traders are able to secure their profits from unexpected changes in the market.

It is a good strategy to place a stop loss and combine it with a take profit order that is double the distance from the opening price. If we use the same example from above, we will have a stop loss at 50 pips from the opening price and a take profit at 100 pips from the same entry price. This way we will have a 2:1 reward-to-risk ratio, which is suitable for beginners. Of course, safer levels could be set – 20 pips for the stop loss and 40 pips for the take profit order.

Additional tips for real money forex trading

One of the most important things novices should know before they sign up for a real money account is to never rush it. It is always better to begin with a demo account and learn how to trade before they start investing funds into a live forex account. They should make sure they are knowledgeable and disciplined enough to be able to make real money trades without emotional decision-making.

Another good tip for those who are just entering the world of forex is to have realistic expectations about the profits that could be made. It is true that some traders are able to earn huge profits in relatively short periods of time – but such fortunate outcomes occur either by chance or after years of experience, professional advancement in trading, and exceptional understanding of the markets. In most cases, of course, success in this field means long-term success, slow progress and, sadly, a long string of mistakes that teach us tough lessons.

Risk management is essential but it cannot guarantee profits on its own. To be successful, investors should develop their own trading strategies and styles, test them and determine which techniques are effective and which ones simply do not work. Trading strategies could be found online, as well, and most forex brokers also offer plenty of educational content to their clients. Sticking to a plan and a trading strategy will effectively force traders to stop trading on instinct.

One good advice for beginners is to start with one major currency pair and then gradually add more pairs. This tactic would allow them to take advantage of high liquidity – especially if the pair is highly traded one such as EUR/USD. It would also give them the opportunity to experience different market environments and conditions while trading the same pair. Of course, major pairs also come with tight spreads and higher leverage.

After a few months, traders can start slowly diversifying their portfolio and exploring not only new currency markets but also different financial instruments altogether. Most online forex brokers offer contracts for difference (cfds) on a variety of underlying assets such as company stocks, market indices, commodities, and others.

Real forex account

How to open forex trading account?

Registration process:

Benefits of forex trading account:

You can earn from home

With a minimum investment of money, one can make potential profit

One can choose forex trading as part-time practices

Full-time traders can start their business in forex

Anyone can make a trade with appropriate knowledge of forex market. In this prospect, it is important to know the difference between demo and real accounts.

Difference between demo account and real account:

Real accounts are used for real-time trading while demo account depends on virtual trading.

Demo accounts have all the similarities related to real accounts. In fact, the traded money is the only difference that is virtual (no real money) in demo account.

With real accounts, you can make profits. But demo accounts will not offer any profitable outcomes in terms of money.

People who are interested in making a profit should reach reliable broker and know how to open forex real account.

Risk and caution in real-time trading:

Every trader has to learn risk management strategies in real-time trading. However, traders who are able to judge the potential of the market can avoid considerable risk to lose money.

“why to take risks when you have options?”

Forex trading accounts

To trade online, you need to open a forex trading account. When you sign up, you will likely have to choose among several account types. The best forex trading accounts are those that suit your personal needs perfectly. On this page, we look at the forex trading account options you have. We also discuss ways in which these account options will impact your trading performance. You will learn:

Which is the best forex trading account?

Account types. What is a standard account, a funded account, a mini/micro account, a managed account, etc?

Geographic account type considerations.

Below are the best forex trading accounts in your location:

The top 5 forex trading accounts in the united kingdom

Opening a forex trading account

What do you need to consider when opening a new forex trading account?

The brokerage firm. Is it reputable or is it a known scammer?

The services the brokerage firm offers.

Costs and incentives involved.

The account type that best suits your needs.

Once you have gotten these issues sorted, there is 3 step process for opening an account:

Fill out the application forms and provide the information your broker requires.

Fund your account.

Start looking for investment opportunities.

When you select a brokerage firm, you take all these factors into account. You need to know whether your would-be broker is a trustworthy destination for traders. Though fewer these days, rogue operations still exist. Creating a real money account with such a broker is flushing money down the toilet.

You also need to know what incentives your broker offers. Match up these incentives with the costs. The broker has to support the account type you prefer and it has to give you access to a proper suite of services. You may even have a preferred account funding method. The broker may or may not accept/support that method.

Services-wise, you are looking for:

Proper trading platforms, with solid technical analysis tools.

Access to education and research.

Trading foreign markets.

Special features you may want.

Convenience. Some brokerage firms offer face-to-face guidance. Others do not. It always makes sense from the perspective of trust, to prefer an operator with physical offices close by.

As far as incentives go, some brokers offer commission-free trading. Others may even reward you for certain achievements as a trader. You may even want to keep your savings with the broker if it rewards you for it.

Make sure you read and understand the full pricing schedule/policy of your broker.

Determining the right trading account type to meet your needs depends on what kind of trader you are, and what your objectives are.

When you fill out your application forms, be aware that you will have to provide information on your employment status, investable assets, and net worth. Some find such probing on the part of the broker quite intrusive.

You also have to provide a copy of your ID/driver’s license. If you want to trade options or gain access to margin, you may have to provide additional information.

Brokers accept several account-funding methods.

Various e-wallets. (neteller, paypal, skrill etc)

Bank transfer.

Electronic funds transfer.

Checks.

Some may accept asset transfers and even paper stock certificates.

Which is the best forex trading account?

As mentioned, the best account type for you is the one that best suits your needs and personal profile. The factors you should consider in this regard fall into two main categories.

Your investment objectives.
The type of trader you are.

Choosing a forex trading account based on your investment objectives

– most “casual” traders invest with a relatively near-term goal. The “make some money” mantra is the main driver behind such efforts. If this mantra describes your investment objectives, you likely need a traditional brokerage account. Such accounts do not offer any tax advantages. On the other hand, they do not tie up your investments long-term either.
You may also be able to trade on margin with such an account. Trading on margin involves borrowing money from the broker. The assets in your account will serve as collateral in this case. Trading on margin carries some obvious risks.

– if your goal is to secure your nest-egg for your retirement, an IRA (individual retirement account) is your option. All IRA options, such as traditional IRA, roth IRA, and rollover IRA offer you tax benefits. On the downside, you will not be able to touch this money before you are old.

Choosing a forex trading account based on what type of investor you are

– you are an absolute beginner. And as such, not much of an investor. What you need at this stage is education. Possibly some good trading signals as well. In a word, you need an account, through which the broker can hold your hand. It could be that your ambitions are not high. Still, you need to know why you are doing what you are doing. Customer service and user interface are important factors in your account selection.

– you are a “value” investor. Such investors buy and hold assets, to sell them when they appreciate. Such investors are not active traders. If you are a value investor, you value fundamental analysis. You have little use for charting and fancy technical indicators, however.

– passive investing. Those who invest in index funds passively do not require much from their broker. Unlike beginners, such traders don’t need their hands held either. They just need access to index funds, and good tradable asset selection within this category.

– high frequency trader. Active traders do not hold their positions long-term. They buy and sell with high frequency. Thus, they need all the bells and whistles their broker can offer them. They want good trading platforms with superb charting. Outstanding reporting and a highly functional interface are also musts. Technical analysis is the bread and butter of this trader category. Trading costs are also very important for active traders.

Forex trading account types

There are four basic account type categories: standard, funded, mini and managed. We will look at each in turn.

Within these categories, there are a few additional variants, such as the micro accounts. There are a handful of special account types as well, such as islamic accounts, demo accounts, and VIP accounts. Every one of these account options carries some advantages and some disadvantages.

Standard trading accounts

The name of this account option stems from the standard lots to which it gives traders access. A standard currency lot is worth $100,000. Such a lot size seemingly places this account type out of the reach of average traders.

You do not have to have $100,000 in your account to trade, however. The existence of margin and leverage means that you only have to have $1,000 to trade a standard lot.

Leverage varies based on many things. In the EU, forex leverage is capped at 1:30. In other places, brokers may offer leverage up to 1:500 even on standard accounts.

Brokers offer full services for the holders of standard accounts. Such accounts require upfront capital, so these are all depositing traders. The profit potential of this account type is significant as well.

On the downside, the same goes for loss potential. For this reason, you should only trade through a standard account if you are an experienced trader.

Funded trading accounts

Some brokers/other financial organizations fund certain traders. They provide them with starting capital, in exchange for a share of their future profits.

How does such a setup work?

Would-be funded account owners need to pass an evaluation program. If the broker’s analysts consider them to be good candidates, they grant them a funded account.

Funding can run into millions of dollars. Profit splits are in the 50% range. Funded accounts carry monthly profit targets. Traders who fulfill these targets can gain additional funding.

The broker pays out the profits periodically.

What do you need to do to secure such a funded account?

Your first step is to sign up for the evaluation program.

Trade through the evaluation account and reach the targets.

Earn a proper funded account and start making money for you and the account provider.

Mini and micro trading accounts

A standard account features $100,000 lots. For traders who cannot afford to trade in that league, despite margin and leverage, mini accounts offer an alternative. A mini account supports mini lots. These lots are worth $10,000 each. Mini accounts usually accompany standard accounts and they target new traders.

Micro accounts take this approach a step further. They support micro-lots of $1,000. Such accounts are even more affordable than the mini ones. Like the minis, micro accounts target beginners as well.

The main advantage of mini and micro accounts resides in risk-reduction. For a mere $250-$500, you can open such a trading account. Trading in lower increments stretches your funds longer as well. This is one of the reasons why professional traders like to use such accounts. They can test their strategies in a low-risk, real-money environment.

In addition to the inherent risk-minimization benefits, mini and micro accounts let you spread your funds thinner. Thus, you can better micro-risk-manage them.

The obvious downside is that risk/loss minimization reduces profit potential as well. Such accounts are, therefore, hardly suited to cover the profit needs of professional/advanced traders.

Managed trading accounts

Forex trading account management works like this, A managed account is one that holds your funds but excludes you from decision-making. You make your deposit, and someone else – usually a broker-side expert – does the trading for you. You may be able to set objectives, however.

Why would you want to give up control through such a trading account?

– you are not an expert and you feel that the manager will do a better job than you ever could. Thus you let the manager handle your individual trading account.
– you feel that pooling your money with the funds of other investors offers you a degree of protection. Such managed accounts work like mutual funds. Managers handle the trading and they distribute the profits.

Managers rank these pooled accounts according to risk tolerance. Those looking for higher profits opt for more risky accounts. Those with a lower risk tolerance play it safer, earning less.

The main advantage of a managed account is that it allows you to cash in on the skills of a forex professional. Furthermore, you get to do it hands-off.

The disadvantage is that this forex expert will cut a commission from your profits. Managed accounts require larger deposits than regular ones. Individual accounts may require as much as $10,000. Pooled accounts are slightly cheaper at around $2,000.

Islamic trading accounts

Islam holds trading to be haram (not permitted). There are ways to turn it into halal (permitted), however.

All trading activity has to adhere to the principles of islamic finance.

There must not be any interest (riba) involved.

Exchanges involved in trading have to be immediate.

No gambling is allowed.

Risks, as well as benefits, have to be distributed.

Islamic accounts are swap-free accounts, through which transactions and the payments of costs associated with them, happen instantly. In the context of islamic trading accounts, the margin, commissions and administrative fees are not riba.

VIP accounts

Brokers reserve their VIP accounts to their most privileged clients. A VIP account holder enjoys special benefits, such as superior trading conditions. Forex brokerages often invite VIP traders to special events, treating them to special rewards.

What do you have to do to gain access to such an account?

You normally need to deposit an unusually large amount of money (often upward of $100,000). You will also need to trade frequently and perhaps meet certain trade volume requirements.

Demo accounts

A demo account is the “play money” simulation of a real account. It allows traders to test the platform and trading conditions. Some may also use such accounts to test-run certain strategies.

When you sign up for a demo account , the broker credits your account with a set amount of virtual funds. Some demo accounts offer the same functionality as a standard/mini/micro account. Others limit their users’ access to certain features.

Geographic considerations

Sometimes, your geographic location should play a role in your account type selection. Some jurisdictions may limit certain trade types. In the US, there is no CFD trading. The practice is against US securities laws.

Leverage varies greatly between EU regulated countries, the UK for example, and other parts of the world. In the EU forex margin is limited to 1:30 by ESMA, the european regulator.

In other parts of world, india and south africa for example, leverage can be offered up to 1:1000 (though 1:400 or 1:500 is more typical)

The taxes you have to pay on your profits also vary from one jurisdiction to another. Read our taxes page for more on that.

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Experienced experts at claws&horns master the art of analysis as no one else. All sorts of analysis, latest forecasts, unique reviews, expert opinions and many other analytical materials that are indispensable to trading success are now freely available to liteforex's clients.

The material published on this page is produced by the claws&horns company jointly with liteforex and should not be considered as the provision of investment advice for the purposes of directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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Risk warning: trading on financial markets carries risks. Contracts for difference (‘cfds’) are complex financial products that are traded on margin. Trading cfds carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, cfds may not be suitable for all investors because you may lose all your invested capital. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and taking into account your investment objectives and level of experience. Click here for our full risk disclosure.

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Forex trading accounts

Which is the best forex trading account?

Account types. What is a standard account, a funded account, a mini/micro account, a managed account, etc?

Geographic account type considerations.

Below are the best forex trading accounts in your location:

The top 5 forex trading accounts in the united kingdom

Opening a forex trading account

What do you need to consider when opening a new forex trading account?

The brokerage firm. Is it reputable or is it a known scammer?

The services the brokerage firm offers.

Costs and incentives involved.

The account type that best suits your needs.

Once you have gotten these issues sorted, there is 3 step process for opening an account:

Fill out the application forms and provide the information your broker requires.

Fund your account.

Start looking for investment opportunities.

Services-wise, you are looking for:

Proper trading platforms, with solid technical analysis tools.

Access to education and research.

Trading foreign markets.

Special features you may want.

Convenience. Some brokerage firms offer face-to-face guidance. Others do not. It always makes sense from the perspective of trust, to prefer an operator with physical offices close by.

Make sure you read and understand the full pricing schedule/policy of your broker.

Determining the right trading account type to meet your needs depends on what kind of trader you are, and what your objectives are.

You also have to provide a copy of your ID/driver’s license. If you want to trade options or gain access to margin, you may have to provide additional information.

Brokers accept several account-funding methods.

Various e-wallets. (neteller, paypal, skrill etc)

Bank transfer.

Electronic funds transfer.

Checks.

Some may accept asset transfers and even paper stock certificates.

Which is the best forex trading account?

As mentioned, the best account type for you is the one that best suits your needs and personal profile. The factors you should consider in this regard fall into two main categories.

Your investment objectives.
The type of trader you are.

Choosing a forex trading account based on your investment objectives

Choosing a forex trading account based on what type of investor you are

– you are an absolute beginner. And as such, not much of an investor. What you need at this stage is education. Possibly some good trading signals as well. In a word, you need an account, through which the broker can hold your hand. It could be that your ambitions are not high. Still, you need to know why you are doing what you are doing. Customer service and user interface are important factors in your account selection.

– you are a “value” investor. Such investors buy and hold assets, to sell them when they appreciate. Such investors are not active traders. If you are a value investor, you value fundamental analysis. You have little use for charting and fancy technical indicators, however.

– passive investing. Those who invest in index funds passively do not require much from their broker. Unlike beginners, such traders don’t need their hands held either. They just need access to index funds, and good tradable asset selection within this category.

– high frequency trader. Active traders do not hold their positions long-term. They buy and sell with high frequency. Thus, they need all the bells and whistles their broker can offer them. They want good trading platforms with superb charting. Outstanding reporting and a highly functional interface are also musts. Technical analysis is the bread and butter of this trader category. Trading costs are also very important for active traders.

Forex trading account types

There are four basic account type categories: standard, funded, mini and managed. We will look at each in turn.

Standard trading accounts

You do not have to have $100,000 in your account to trade, however. The existence of margin and leverage means that you only have to have $1,000 to trade a standard lot.

Leverage varies based on many things. In the EU, forex leverage is capped at 1:30. In other places, brokers may offer leverage up to 1:500 even on standard accounts.

On the downside, the same goes for loss potential. For this reason, you should only trade through a standard account if you are an experienced trader.

Funded trading accounts

Some brokers/other financial organizations fund certain traders. They provide them with starting capital, in exchange for a share of their future profits.

How does such a setup work?

Would-be funded account owners need to pass an evaluation program. If the broker’s analysts consider them to be good candidates, they grant them a funded account.

Funding can run into millions of dollars. Profit splits are in the 50% range. Funded accounts carry monthly profit targets. Traders who fulfill these targets can gain additional funding.

The broker pays out the profits periodically.

What do you need to do to secure such a funded account?

Your first step is to sign up for the evaluation program.

Trade through the evaluation account and reach the targets.

Earn a proper funded account and start making money for you and the account provider.

Mini and micro trading accounts

In addition to the inherent risk-minimization benefits, mini and micro accounts let you spread your funds thinner. Thus, you can better micro-risk-manage them.

The obvious downside is that risk/loss minimization reduces profit potential as well. Such accounts are, therefore, hardly suited to cover the profit needs of professional/advanced traders.

Managed trading accounts

Why would you want to give up control through such a trading account?

Managers rank these pooled accounts according to risk tolerance. Those looking for higher profits opt for more risky accounts. Those with a lower risk tolerance play it safer, earning less.

The main advantage of a managed account is that it allows you to cash in on the skills of a forex professional. Furthermore, you get to do it hands-off.

Islamic trading accounts

Islam holds trading to be haram (not permitted). There are ways to turn it into halal (permitted), however.

All trading activity has to adhere to the principles of islamic finance.

There must not be any interest (riba) involved.

Exchanges involved in trading have to be immediate.

No gambling is allowed.

Risks, as well as benefits, have to be distributed.

VIP accounts

What do you have to do to gain access to such an account?

You normally need to deposit an unusually large amount of money (often upward of $100,000). You will also need to trade frequently and perhaps meet certain trade volume requirements.

Demo accounts

A demo account is the “play money” simulation of a real account. It allows traders to test the platform and trading conditions. Some may also use such accounts to test-run certain strategies.

Geographic considerations

Leverage varies greatly between EU regulated countries, the UK for example, and other parts of the world. In the EU forex margin is limited to 1:30 by ESMA, the european regulator.

In other parts of world, india and south africa for example, leverage can be offered up to 1:1000 (though 1:400 or 1:500 is more typical)

The taxes you have to pay on your profits also vary from one jurisdiction to another. Read our taxes page for more on that.

Forex trading account types

At FXCC we offer range of ECN accounts to suit all traders. Whatever your level of trading
experience or demands, we believe we have the right account for you.

Forex & CFD trading is risky

Start with a risk-free demo trading account

Whether your new or an experienced trader, a risk free demo account is a great way to experience the benefits of
ECN trading with FXCC.
Practice your forex trading skills or test new strategies with zero investment.

Real-time prices and real forex market volatility

Access to full-featured metatrader4 trading platform

Our ECN XL account has all the features and benefits you would expect and demand from an ECN/STP broker who has always been right at the cutting edge of industry development. A broker who has helped to shape the future of the industry. In fact at FXCC we believe this ECN account is not basic at all. It is one of the most advanced trading accounts, packed full of features and benefits, currently available in the forex industry.

At FXCC we often use a motto that we have adopted over the years; "from small acorns great oaks will grow". Every ECN trader starts somewhere that is why every FXCC client is treated as an individual, a VIP, who will enjoy a personal, unrivalled level of service. Clients can open a ECN XL account with only $500 and enjoy the same level of dedicated full support and service as if they are a VIP client. You will be able to take advantage of the ECN/STP model of forex trading we helped to pioneer.

RISK WARNING: cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 78% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money. Please click here to read full risk disclosure.

FXCC does not provide services for united states residents and/or citizens.

FX central clearing ltd is authorised and regulated by the cyprus securities and exchange commission (cysec), under CIF licence number 121/10 and operates under the EU markets in financial instruments directive (mifid). FX central clearing is on the FCA(UK) register (reference number 549790) and EEA authorised.

Demo vs real trading account

When most new traders cross over from the demo account to live, they usually believe they can easily replicate their trading results on a real account. Because of that, some of the traders are left very disappointed when they learn that this isn’t always the case. Beginner forex traders are sometimes encouraged to start a demo account before risking real money. Thus you can test your newly acquired skills. But, if you’ve spent some time with a demo account, how can you tell if you’re ready to open live account?

As a common way for a forex trader to use their transaction execution services and fund deposit as a margin for trading, most online forex brokers give potential clients a free forex practice account. Generally known as the forex demo account, these accounts allow a trader to demonstrate what he feels like in the forex market to trade forex currency exchange pairs without risking any real money.

Even if you wanted to accept your demo account as a real forex account, it is true that a demo does not pose a real monetary risk. Here and there, you might suffer some losses but, in the meantime, you know that your demo account will be loaded up with fake cash at all times. You can rest assured that you can start over quickly when you make some mistakes with a demo, and this takes a huge amount of pressure off your shoulders. By contrast, it can hurt your trading trust and then nucleate your trading decisions while trading real money.

Almost every trader discovers instantly the difference in trading output on an actual account versus a demo account, as something virtually supernatural will help make money on the demo account. In fact, when trading in the real, it is common to suffer more serious drawdowns. Some even think that forex brokers can exploit the networks in real-world accounts to produce different results. But, the issue is more psychological because when we work with real cash, the mind plays emotional tricks.

The first and most important sticking point for demo vs real trading is the element of emotion. Emotions of an individual greatly affect their ability to make decisions when actual money is on the line. Demo trading is great for you because you can always get the company out or just strike when you’re in lost trade. Only click the refresh button and your account is restored after a few losses. You can blow out many forex accounts with big profit gains on your one account, but that doesn’t mean you can replicate your one massive winning account.