A well-known quote by Jesse Livermore states: “Here is a time to go long, a time to go short, and a time to go fishing.” It is worth noting that the descriptions and tools for representing various types of forex accounts exist among multiple companies, but only a few provide their customers with trustworthy basic options.
FOREX accounts are the ultimate assistant for every trader. On our top-notch platform, you can choose from different kinds of account types to increase your chances for successful trading experience.
Three basic account types (Standard, Pro, Raw Spread) offer different minimum deposits as well as versatile instruments and account tools. Each forex account type is supposed to keep, deposit, and withdraw money and allows each broker to test his financial strategy without financial risks and losses.
Forex account types may be created to benefit certain types of traders depending on their level of experience. These days, you have to make sure you select the best account option for your specific needs and resources.
Standard is the most common type of forex account that suits all types of trading strategy. A minimum deposit is $10 with a zero-commission policy. Typically, this account has a fixed spread level, which makes it easier to calculate price targets. It is suitable for trading daily and can also be used while collaborating with Forex advisors. Other potential advantages include the ability to open larger positions with less capital, increasing potential profits, and low volatility.
While offering a spread from 0.1 pips and low leverage levels, the Pro account is aimed at professionals in search of a service that matches their unique experience. A minimum deposit is in the range of $100, and a wide range of trading tools is offered for each customer. More than 50 currency pairs, indices, metals, and commodities are a real game-changer. Whether you trade for fun or business, the Pro account can completely take your skills to the next level.
A single trader cannot bend the market to their will, but he has a unique ability to feel the dynamic trading. The advantages of a Raw Spread account include favourable conditions due to narrow spreads, no delays and fast execution of orders, low brokerage commissions, transparent price policy, and exceptional opportunities for scalping. In addition, traders save money on spreads, since a Raw Spread account is suitable for high-frequency trading.
What is the difference between raw spread and standard account?
The crucial difference between raw spread and standard accounts is the brokerage commission strategy for executing trading orders. Let’s take a closer look here. On zero-spread accounts, the broker charges a fixed commission. On accounts with raw spread, the commission, which is usually lower, is calculated taking into consideration the transaction volume.
Which Forex account type suits me better?
The choice of trading account type is determined by the trader’s strategy and goals. For instance, zero-spread accounts are attractive to high-frequency traders and scalpers who make a huge number of trades. Standard accounts with a fixed spread and low market volatility are optimal for novice traders. Thus, it is advised to consider your own financial needs and possibilities before registering with JustMarkets.
Can I trade if I am a Muslim?
Yes, you can. JustMarkets has a unique opportunity for Muslims. Even though Sharia law prohibits trading with swaps, we offer a special swap-free forex trading account that does not go in discrepancy with religion.
So, what are the perks of a swap-free account?
A swap is a commission for an operation of closing an order at midnight of one trading day and reopening it at the close price the following day. With swap-free accounts, any trader can keep open positions as long as he wants. In this case, the result of trading can be affected only by the change in the exchange rates for a specific period.
It is worth mentioning that using swap-free accounts is optional. If you aim to change your Standard Cent, Standard, Pro, or Raw Spread account into a swap-free one, we advise you to contact the support team.
What payment systems are available at JustMarkets?
Another pain point of any trader is the choice of a decent payment system. There is nothing to worry about since JustMarkers possesses a broad selection of payment systems, including international and local ones. As a result, the trading process is simpler, and the risks of losing profit are practically fully eliminated.
What are some extra features I would get?
More extra features on the JustMarkets account platform include:
Educational videos on worldwide exchange market trading
Forex glossary for newbies on how to deep dive into trading
An out-and-out set of articles on trading platform
An exceptional opportunity to operate diverse currencies
A trader should understand that the account type is only a tool for work and not a guarantee of success. Apart from that, the right choice of forex account type at JustMarkets can add to the evaluation of your experience and build up a strategy for the future.