Depending on the purpose and the parameters laid down, trading accounts are divided into several types, the main of which include: standard dollar accounts, cent micro-accounts, professional ECN accounts, investment PAMM accounts, as well as demo (virtual) accounts. If you just started trading on Forex, we recommend that you first create a demo account, the trading of which is carried out not with real, but with virtual money. Most brokers interested in creating the most favorable conditions for beginners have the opportunity to create such accounts.
Depending on your plans, you have the opportunity to register any of the following accounts:
A standard account is the most common type of real account with classic trading conditions without additional commissions for transactions and execution modes Instant execution or Market execution. Accounts of this type can be divided into subspecies depending on the base currency of the account and individual options (for example, Swap-Free accounts).
Cent accounts - the so-called micro-deposits, the base currency of which is either the cents of the American dollar or euro cents. On "cents", as well as on standard accounts, traders are given the choice of a fixed or floating type of spread. Here usually there are no additional commissions, an increased (compared to standard accounts) leverage and a smaller step in the trading volume of transactions are available, which makes them best suited for beginners.
ECN accounts - this type is designed for professional market players and transactions here are a little faster than on a standard account, due to the withdrawal of orders directly to the interbank network. ECN accounts may have requirements for the amount of the minimum deposit required to open an account and trade on it, as well as a commission for each transaction made.
More information here - https://www.investopedia.com/terms/t/tradingaccount.asp
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