UK Forex Broker Leverage are two main types of accounts available to traders: standard accounts and raw spreads. Traders using standard accounts have the option of having institutional grade spreads without markup. On the other hand, those using raw spreads have to pay a commission fee, which is often higher. Traders who are interested in using raw spreads must be knowledgeable about the market and have the ability to make calculations. They should also know how to manage multiple trades in parallel.
In order to determine which type of account is best suited for them, it is important to understand the different features of each type. Traders who are focused on scalping, position trading, or other short-term strategies may want to The Best Features of a Forex Trade Call Group a standard account. These types of accounts are not as important for traders who use longer-term strategies and do not need to have the most accurate pricing. Regardless of your trading strategy, you should always compare spreads and commission fees when comparing the two.
The Standard account is a good choice for beginner forex traders who want to learn more about the forex market. Standard accounts feature a wide range of trading instruments and low commissions. Raw spreads, on the other hand, are more suitable for day traders. Standard accounts are also available with no minimum deposit.
IC Markets offers both types of accounts. A standard account is the same as an ECN trading account, but comes with a requote system, which means that the commission costs are lower. A standard account is priced at USD$10 per standard lot. IC Markets also charges a commission for ECN pricing accounts, which varies based on the number of standard lots traded and the on-spot rate.