Open forex account

There are more than 100 cfds to choose from in various categories such as indices, commodities, futures, etfs, and a selection of 25 cryptocurrencies to choose from.

Today forex bonuses

Top 10 Unlimited Forex Demo Account for 2021, open forex account.

An XTB broker review will show that they apply a 0.08% fixed commission to every trade and then a possible $3.50 per lot traded commission which depends on the account type you select. Throughout this article, we will explain what are the forex brokers where you can get the best demo account with NO time limitation and how you can get the most out of your demo trading account with all of the top forex trading brokers in the industry.

Top 10 unlimited forex demo account for 2021

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When you decide to begin in the world of forex, demo trading accounts are an important first step that you may decide to take when trying to choose from some of the best forex brokers around.

Starting out with a demo trading account is not just for beginners though, this is something you can use as an experienced trader to get to know more about almost any broker, how they operate, and the trading platforms that they offer.

Throughout this article, we will explain what are the forex brokers where you can get the best demo account with NO time limitation and how you can get the most out of your demo trading account with all of the top forex trading brokers in the industry.

What’s a demo account?

If you are not already aware, demo trading accounts are offered by almost all of the top forex brokers. This is a risk free way in which you can learn more about every broker as a forex trader or if you are involved in CFD trading.

These accounts are offered on a trial basis typically with an amount of virtual money that you can risk. This prevents you from possibly losing your own money while you get to know the trading platform of each broker in more detail. These demo trading account trial periods may be limited in terms of the duration you can use them, or they may also be unlimited. This decision is up to the particular forex broker.

As well as risk free trading in which you cannot lose your money, it is also a chance to find out more about the regulation of online trading under each authority and within the cfd trading or forex broker. This can be helpful in knowing what kind of leverage is available as well as other things such as how account types and funding methods work.

Within this top 10 demo trading account piece, we have collected a range of top brokers who offer demo trading accounts which do not expire, and who also provide access to a large selection of account types for you to choose from as well as trading platforms like the well-known MT4.

This, along with dealing in a range of assets and CFD trading in the likes of cryptocurrency and even copy trading demo accounts, can really help you to better understand the industry as a forex trader and the direction you would like to take.

Top10 unlimited forex demo accounts

The following are 10 of the best brokers offering exceptional unlimited demo trading accounts that we have reviewed and feel would be the best choice in your search for a well authorized and regulated broker.

1. XTB

Looking at XTB, the broker offers both standard and pro accounts for you to choose from as a trader. Both of these account types do come with a demo trading account also available. This demo trading account unlike some others, does not expire. With that said, it may be closed if you have not trading in a 30 day period.

Often, you go to as a trader is currency trading and the ability to trade in one top currency pair or another. In this respect, the XTB broker offers a choice of more than 45 forex pairs across both of these XTB account types.

The XTB spreads are also highly competitive starting from just 0.1pips on some major pairs. If you are more into CFD trading, then you can also sample this within the XTB demo trading account at no risk to your real money whatsoever.

There are more than 100 cfds to choose from in various categories such as indices, commodities, futures, etfs, and a selection of 25 cryptocurrencies to choose from. An XTB broker review will show that they apply a 0.08% fixed commission to every trade and then a possible $3.50 per lot traded commission which depends on the account type you select.

When it comes to trading platforms you can try out and that are available as part of your demo trading account, XTB offers MT4 and xstation. Finally, in terms of fees, the broker does offer some rollover-free accounts although not in every country so you should check with their support team particularly if you are a islamic forex trader.

With XTB you also have the chance to further your development by taking advantage of a strong educational infrastructure through videos, tutorials, webinars, and more to help you grow as a top forex trader.

OPEN REAL FOREX ACCOUNT

ZERO account opening and maintenance fee. NO minimum deposit or minimum account balance requirement!

The standard processing time for completing the account application form is approximately 10 mins.

Clients verified via bank transfer

Fill in your information in the online account application form

Make a transfer of no-less-than HK$10,000 for the first deposit (must be transferred from a bank account in the client’s name maintained with a licensed bank in hong kong )

Send us the supporting documents via your registered email

Clients verified via cheque

Fill in your information in the online account application form

Print and sign the form

Make a cheque deposit of no-less-than HK$10,000 (must be from a bank account in the client’s name maintained with a licensed bank in hong kong )

Sign and submit the completed form, cheque along with the supporting documents by post or in person .

_{Note: according to SFC guidelines, if you need to designate more than one bank account for deposits and withdrawals, all designated bank accounts must complete the same verification procedure (i.E. You are required to make a fund transfer of no-less-than HK$10,000 from the bank account and the account must be in the client’s name maintained with a licensed bank in hong kong). Clients who are verified via cheque do not have this restriction.}

Apply online: click below to start your application.

Our client services officer will handle your account opening face to face in our TST office.

Standard processing time for account opening is approximately 30 mins.

Bring along your supporting documents to complete the application and your account will be activated within 2 business days. Only_tcsc

Apply in person: click below to arrange for an appointment.

To open a corporate account, please contact us for details on application requirements and procedure.

Before you begin, please read the following:

To open an individual account with us, you must be able to meet our eligibility requirements detailed below.

You are not a resident of japan;

You are not a citizen or resident of the united states of america;

You must be aged 18 or above;

You have fulfilled our system requirements;

You have a personal email address and phone number; and

You are the beneficiary account holder,

If you are a person licensed by or registered with the securities and futures commission or an employee of a licensed person, an official consent letter from your employer is required. For more information, please contact our client services officer.

Make money
trading forex with
fxopen
ECN broker with over 15 years
experience

tight spreads and
low commissions!

Our advantages

Low commissions

Commissions from $1.5 per lot (half-turn) on ECN accounts. No trading commissions on STP accounts

Fast execution

Orders executed in as little as 0.001 seconds as the servers are located in europe and the USA

90-day cashback program

Get up to $1,000 money back from your trading during the first 3 months from the moment of registration

Wide range of instruments

100+ trading instruments including currency pairs, metals, cfds, oil, indices, cryptocurrencies

Security

Client funds are kept in segregated accounts, data encryption, two-factor authentication login

Experience

Operating for over 15 years as a forex broker and trusted by over 1,000,000 traders worldwide

ECN technology

Fxopen ECN enables the matching of client orders against the orders of other fxopen marketplace participants e.G. Other fxopen clients, both individual and institutional, and liquidity providers - banks, fx exchanges, other brokers. There is no conflict of interest between the clients and the broker, as the broker act only as the intermediary.

Fxopen ECN advantages:

• by aggregating the liqudity of multiple lps and feeding the aggregated raw price further to the clients, fxopen is able to offer tighter spreads and better execution that otherwise available to retail clients.

• the spread is floating and depends on market conditions.

• market execution with no last look is available to all fxopen ECN participants.

• transparent and equal trading conditions for all clients.

Forex trading

Harness volatility in the world's most-traded financial market with a top in class forex broker 1 on an award-winning trading platform. 2

Forex trading involves risk. Losses can exceed deposits.

Call 1 844 IG USA FX or email newaccounts.Us@ig.Com to talk about opening a trading account.

We’re here 24 hours a day, from 3am saturday to 5 pm friday (EST).

Why trade forex with IG?

Get an edge with our award-winning platform 2 designed to be with you wherever you are. Our platform is web-based platform and available in app stores for mobile devices.

Stay aware of market movements with customizable alerts on IG's platform.

Get friendly, expert support 24 hours a day, except between 5 pm friday - 3 am saturday (EST).

Identify FX opportunities on clear, fast charts and deepen your analysis with prorealtime.

Enjoy peace of mind trading forex with an award-winning forex broker. 1

Open an account quickly and easily – you could be set up and trading forex in minutes.

What is forex trading?

Forex trading is the buying and selling of currencies on the foreign exchange market with the aim of making a profit.

Forex is the world's most-traded financial market, with transactions worth trillions of dollars taking place every day.

What are the benefits?

Go long or short

24-hour trading

High liquidity

Constant opportunities

Trade on leverage

Wide range of FX pairs

How do I trade forex?

Decide how you’d like to trade forex

Learn how the forex market works

Open a forex trading account

Build a trading plan

Choose your forex trading platform

Open, monitor and close your first position

Open an account now

Fast execution *

React to opportunity across 80+ FX pairs

Trade wherever you are

Trade on the move with our award-winning apps optimized for your device

A broker with a legacy

Our parent company, IG group has 45 years' experience, we're proud to offer a truly market-leading service

How much does forex trading cost?

Margins:

When you trade FX you do so with leverage - meaning you can win, or lose, a significant amount more than your inital deposit - called your margin. Though not actually a cost to you, the margin you pay makes a big difference to the affordability of your forex trade.

Spreads:

Your key payment for forex is the the spread - the difference between the buy and the sell price - our charge for executing your trade. We work to keep our spreads among the lowest in the business.

Spot FX	IG min. Spread	IG av. Spread
EUR/USD	0.8	0.9
AUD/USD	1	1.2
USD/JPY	0.8	0.9
EUR/GBP	1	1.3
GBP/USD	1	1.3
EUR/JPY	1.2	1.3
USD/CHF	1.5	1.7

If you hold a position overnight you there will be a funding adjustment applied to your account. Currency conversion fees may also apply.

With our transparent pricing, you can be confident you understand the value of each trade.

Up to 20% lower spreads on EUR/USD vs top two U.S. Brokers 3

See our full product details

Discover your next opportunity

Search our huge range of forex pairs.

Live prices on our most popular markets

Prices above are subject to our website terms and conditions. Prices are indicative only.

Choose your trading platform

Seize opportunity at your desk or on the go with IG's award-winning platform for desktop and mobile 2 or trade on one third party platforms we offer.

Our intuitive web platform

Metatrader 4

Discover the IG web trading platform, a clear, smart way to trade forex that’s customizable and requires no downloads.

Build forex trading algorithms that will execute your trades automatically with metatrader 4.

Our mobile apps

Prorealtime

Never miss an opportunity, trade forex on the move with our natively designed IG forex for your device.

Deepen your trading anaylsis with prorealtime's clear, advanced, feast charts.

Find your next opportunity in our huge range of over 80 major, minor and exotic forex pairs - starting from just 0.8 pips

Get the latest forex news

EUR/USD, GBP/USD, and USD/JPY driven by dollar gains

USD/JPY on the rise as EUR/USD and GBP/USD fall back

EUR/USD, GBP/USD, and AUD/USD likely to turn lower despite brief gains

EUR/USD and USD/JPY reach resistance, while GBP/USD trends upward

You might be interested in…

Powerful forex charting

Managing your FX risks

Try an IG demo account

Zero in on price action with our clean, fast charts, deepen your analysis with autochartist packages.

Mitigate against forex trading risk with our range of stop and limit orders, and keep an eye on forex prices with customizable alerts.

Test your trading strategies with $10,000 in virtual funds by opening an IG demo account.

1 based on IG US's numerous awards including: investopedia's 2019 best brokers awards (determined by award winners, investopedia's team evaluated more than 70 online brokers, considering thousands of variables across trading technology, mobile capabilities, user interfaces, research tools, costs and fees.), awarded best customer service broker, best value for money, and best educational material by investment trends (determinded by overall relationships in investment trends 2019 foreign exchange report) and winner of FX week's e-FX 2019 award for best retail FX platform of the year (A submissions-bassed process awarded by FX week judges, based on demonstrating innovative ideas and implemented in a practical way for solving issues for clients.)

2 winner of FX weeks e-FX 2019 award for best retail FX platform of the year. The FX week e-FX awards is a submissions-based process where companies are invited to enter the judging process. Awards are given by FX week judges, based on demonstrating innovative ideas implemented in a practical way for solving issues for clients.

3 based on minimum spreads advertised on january 28, 2020 . Excludes competitors' commission-based products.

*based on IG group's OTC data from october 2019. 86 million trades places in FY19 with an avaerage execution speed of 0.014 seconds.

Forex trading

Forex trading costs

Learn to trade

Disclosures

Contact us

New clients: 312 981 0499

Existing clients: 312 981 0498

Marketing partnership: email us now

Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. You may lose more than you invest. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. The information on this website is not directed at residents of countries where its distribution, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

IG is a trading name of IG US LLC (a company registered in delaware under number 6570306). Business address, 200 west jackson blvd., suite 1450, chicago, IL 60606. IG is a registered RFED and IB with the commodities futures trading commission and member of the national futures association (NFA ID 0509630).

IG US accounts are not available to residents of ohio.

Open forex account

As an existing XM real account holder you can simply register an additional account through the members area with 1 click. No additional validation is required.

Unlimited loyalty program

Earn XM points on every trade, then redeem those points for real cash rewards and trading bonuses.

Extra bonuses

Get additional exclusive bonuses throughout the year either on a seasonal basis or by invitation only.

Legal: this website is operated by XM global limited with registered address at no. 5 cork street, belize city, belize, CA.

Trading point holdings ltd is the holding company of trading point of financial instruments limited, XM global limited, trading point of financial instruments UK limited, trading point of financial instruments pty ltd, and trading point MENA limited.

Trading point of financial instruments limited is authorised and regulated by the cyprus securities and exchange commission (cysec) (licence number 120/10).
XM global limited is authorised and regulated by the international financial services commission (IFSC) (license number 000261/106).
Trading point of financial instruments UK limited is authorised and regulated by the financial conduct authority (FRN: 705428).
Trading point of financial instruments pty ltd is authorised and regulated by the australian securities and investment commission (AFSL 443670).
Trading point MENA limited is authorised and regulated by the dubai financial services authority (DFSA) (reference no. F003484).

Risk warning: forex and CFD trading involves a significant risk to your invested capital. Please read and ensure you fully understand our risk disclosure.

Restricted regions: XM global limited does not provide services for the residents of certain countries, such as the united states of america, canada, israel and the islamic republic of iran.

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Forex trading account types

account type	cent	mini	standard	VIP
min. Spread	2.4	1.4	0.4	0.4
personal education:	-	-	+	+
recommended deposit:	$100	$500	$5 000	$50 000
minimum deposit:	$10	$100	$2 000	$10 000
account currency	USD	USD, EUR, GBP	USD, EUR, GBP	USD, EUR, GBP
max. Leverage:	1:500	1:500	1:500	1:500
min. Volume lot:	0.0001	0.01	0.01	0.01
lot size	1 000	100 000	100 000	100 000
gold and silver:	+	+	+	+
shares	-	-	+	+
max. Lot size:	∞	∞	∞	∞
margin call	55%	10%	10%	10%
stop out:	20%	5%	5%	5%
VPS by request	$25/mon	$25/mon	$25/mon	free
priority execution	-	-	-	+
personal manager:	-	-	+	+
swap free:	-	+*	+*	+*
open	open	open	open

* upon the client's request (for muslims only)

Forex account types

Paxforex broker is a fast growing forex trading company with a highly experienced management board, committed to offering our clients the highest quality forex service, technology, support, and terms of business within the forex trading industry.

At paxforex we provide you with the flexibility to choose among 5 different forex trading account types. Our objective is to meet your individual needs while offering a professional and personal service irrespective of the forex type of account you may choose. Each forex account type gives the forex investor full access to the highly accredited metatrader4 trading platform, which includes unlimited charts and technical indicators, automated trading, mobile trading software and access to detailed forex account information. Our clients often start trading from mini forex trading account to feel all features.

All clients are assisted directly by our traders, who can be conveniently contacted via email, telephone and chat services. Regular intra-day market updates as well as a strategic outlook on the main currency pairs are delivered free of charge.

Forex mini account

Forex account designed for new forex traders. Allowing to trade forex without exposing clients to high risk. The minimum deposit is 100 USD. Has competitive forex spreads.

Standard forex account

Forex account funded at 2000 USD and up to 9 999 USD and is appropriate for experienced as well as professional forex traders with a distinctive knowledge of the forex. Has lowest forex spreads, allowing to trade forex, gold, silver.

VIP forex account

Forex account funded at 10 000 USD and more. It is designed for experienced and professional forex traders who are ready to trade significant volumes. Has lowest forex spreads, allowing trading forex, gold, silver, plus direct access to their own personal account manager, through phone, chat or email.

Cent forex account

Designed for newcomers who wants to get an expirience of real money trading with lowest risks. Cent forex account is a perfect way to adjust your own trading strategy, or expert advisor testing with the broker trading conditions.

Islamic forex account

Paxforex introduces special accounts - islamic swap-free accounts. Rather than swap, a settled financing charge (commission) is applicable on the account and it bases on the asset traded and the amount of lots only, not on the interest rate. This account was initiated specifically for clients of muslim beliefs who cannot earn or pay any interest due to sharia law.

You can start with forex trading mini account to taste real trading and then move on and achieve better and better results.

Accounts
- Account types
- Deposit funds
- Withdraw funds
- Forex
- Stocks
- Indices
- Spot metals
- Promotions

Platforms
- Metatrader4
- Mobile trading
- MT4 multiterminal
- MT4 reviews
- MT4 guide

Trading tools
- Education guides
- Educational videos
- Forex calculator
- Forex glossary

Market analytics
- Forex news /blogs
- Daily trading analysis
- Fundamental analysis
- Economic calendar

Partnership
- CPA plan
- Hybrid plan
- Revenue share plan
- Copy trading system
- Multi-level system
- Refer A friend
- Become A partner

About us
- Contact us
- About paxforex
- Reviews & feedback
- FAQ

Risk warning: please note that trading in leveraged products may involve a significant level of risk and is not suitable for all investors. You should not risk more than you are prepared to lose. Before deciding to trade, please ensure you understand the risks involved and take into account your level of experience. Seek independent advice if necessary.
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Trade over 60 stock cfds

With ZERO commissions

All logos & trademarks are the property of their respective owners

AIM HIGHER

Got what it takes to be a trader?

Spreads as low as 0 pips

Negative balance protection

TRADE FOREX

Anytime, anywhere!

A SECURE GLOBAL
FOREX BROKER

Access tier-1 banks from any device

ORBEX online forex trading | trade forex, commodities, indices

Forex trading platforms

Trade forex products with orbex user-friendly online trading platforms.

Financial markets

Stock cfds

Wide range of the most traded US & EU stock cfds

Forex

Trade currencies through the relative values of the pairs

Energies

Enjoy fast and efficient trade execution allowed in these innately volatile markets

Precious metals

Take short or long positions of the metals’ prices

Cash indices

Trade on the whole market instead of individual stocks

Futures indices

Trade futures contracts of the major stock indices on metatrader4

Forex research and education

The latest news covering forex, commodities, and indices in addition to exclusive CFD and forex trading opportunities identified by the orbex research team.

TECHNICAL ANALYSIS

FUNDAMENTAL ANALYSIS

WEBINARS

Orbex web TV

Orbex specials

The latest innovations in forex tools and resources to assist you in online trading.

About orbex forex broker

Orbex forex broker has a successful history full of great achievements, technological breakthroughs and long-term relations with our traders. Orbex takes everything responsibly by offering traders homelike conditions and a full range of trading services, free VPS, forex educational, and research programs and lucrative partnership programs.

Open free forex demo account

Verify your email

A conﬁrmation message has been sent to your email address, please click on the conﬁrmation link in the email to activate myorbex access.

Why trade with

Orbex forex broker advantages

Why trade with

Fully licensed and regulated broker

24/5 multilingual customer service

Fast deposits & withdrawals online

Seamless execution & access to tier-1 banks

Orbex partnership programs

Benefit from forex market potentials and our unique partnership programs
enjoy high commissions and continuous support to grow your business.

Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 62.22% 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

Proud to be crowned

BEST FX BROKER

By global banking and finance review

License, authorization and regulation:

License : orbex group limited is the holding company of orbex global limited, orbex limited is an affiliate with orbex global limited. Orbex global limited is authorized and regulated by mauritius financial services commission “FSC” (view license).

Orbex.Com is owned by orbex group limited and is operated by orbex global limited with registered address: 2nd floor, the catalyst, silicon avenue, 40 cybercity, 72201 ebène, republic of mauritius

Risk warning: trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Orbex global does not offer its services to residents of certain jurisdictions such as mauritius, USA, and north korea.

Alpari forex DEMO account

Want to take part in the most complete forex trading experience around? Join alpari international today!

We don’t want to list ALL the reasons why signing up to alpari international is one of the best moves you could make when it comes to trading forex. Ultimately who you choose to trade with is your choice. However, there are a few things that make alpari international stand out from the rest:

Super quick registration

Alpari international knows that signing up can use up precious time, which is why our registration process makes it easier – and quicker – than ever. It only takes a few minutes!

Lower spreads

We understand that the lower the spread, the better the deal for you. So we’re offering one of the best deals on spreads around. Take advantage of 0.1 – 0.5 on EURUSD and 0.1 – 0.7 on GBPUSD with our ECN trading accounts.

Leverage that has real power

Alpari international is one of the most respected names in the industry, and our leverage of up to 1:1000 gives you the ultimate competitive edge.

Lightning-fast execution speeds

It pays to move fast in forex, so we’ve focused on making our execution speeds as quick as possible to give you every chance of success.

Swap-free accounts

The more options we can offer, the more our clients love us. Tell us what you need and we’ll work hard to get the best deal for you.

Trading conditions

About us

Policies & regulation

Promotions

Trading guides, articles & insights

ALPARI INTERNATIONAL is the business name of exinity limited which is regulated by the financial services commission of the republic of mauritius with an investment dealer license bearing license number C113012295.

Registered address: 5th floor, 355 NEX tower, rue du savoir, cybercity, ebene 72201, mauritius.

Card transactions are processed via FT global services ltd, reg no. HE 335426 with registered address at tassou papadopoulou 6, flat/office 22, ag. Dometios, 2373, nicosia, cyprus. Address for cardholder correspondence: [email protected]

Risk warning: trading forex and leveraged financial instruments involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the client to ascertain whether he/she is permitted to use the services of the alpari international based on the legal requirements in his/her country of residence.

Regional restrictions: alpari international does not provide services to residents of the USA, mauritius, japan, canada, haiti, suriname, the democratic republic of korea, brazil, puerto rico, the occupied area of cyprus. Find out more in the regulations section of our faqs.

Forex trading account – how to open trading account

“disclosure: some of the links in this post are “affiliate links.” this means if you click on the link and purchase the item, I will receive an affiliate commission. This does not cost you anything extra on the usual cost of the product, and may sometimes cost less as I have some affiliate discounts in place I can offer you”

One of the first steps in forex trading is opening a forex trading account. Account gives you entrance into trading world where you will be one of the traders on the biggest market.

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I will show you what you need to do to open account with broker.

How to open trading account

In order to continue you need to have broker. If you do not have broker even then you can continue to inform yourself about opening an account. It is not bad to know more if you want.

To open trading account, demo or real, necessary steps are:

Selecting trading account type

Registration

Activating trading account

This is global overview but I will get into more details further in this text. Be sure to open first demo account and then after demo trading, real account.

Choosing trading account type

This post is about opening real account. If you are looking how to open demo account check this:

Step by step guide: admiral markets demo account

When opening account, real account, you need to decide which type you want to open. Brokers offers a lot options for any trader and before deciding please read as much as you can so you do not get scammed.

Broker can offer you few account types:

Business

Personal

Managed

Managed

Spot

Futures

Forwards

Managed account

Some brokers have account where you can deposit money and then let broker to trade for you. These kind of accounts are known as managed account. If you want to trade on forex market by yourself then do not choose this account type.

By the way they charge fees through profit they make on your account and there is minimum amount on deposit which can be different by brokers. Deposit amount is mostly several thousands dollars which can be to high for individual investor.

Be sure that you open forex spot account and not one of the other accounts like futures and forwards.

Trading account size

Between account sizes you will need to choose small or large accounts. Small account is for trader with small amount of invested money. Large account is for trader with high amount of invested money.

Small accounts with every pip move will bring you smaller profit but also small loss if market moves against you. At start it is best to have small loss if you make a bad trade. In time how your progress through forex market you can deposit more money and have large account. With large account every pip move will bring you more money on your account.

For beginners it is recommended to use small account until they master trading and afterwards they can continue on the larger accounts. This way they will protect heavily earned money from fast losing on forex market.

During account opening process sometimes you will encounter three types of account that broker offers you. They are:

Mini account

Micro account

Standard account

There is difference between them as their name suggest it but in general there is no to much complicated differences.

What is micro account

Micro account is account mostly intended for novice traders but it is not mandatory that he is novice.

This account requires smaller amount of deposit and that is between $10 – $250. Minimal deposit depends on the broker with which you have trading account open.

Every trade/contract that you open you control $1,000 on the market. Every pip move gives $0.1 difference on trading account. If trade goes in your favor you will earn $0.1 and if trade goes against you then you lose $0.1.

As you can see 1 pip move does not bring a lot profit or loss. If you open a trade and wait until market moves in one direction for 100 pips then this amount will be $10. $10 can be a lot if you have invested $50 on your trading account.

If you are able to invest more money on you account it is best to do it because this way you will avoid possible margin call. With higher amount on the account you will have wide space to trade if trade becomes a bad trade.

Margin call happens when you have bad trade active and without enough money to sustain further loss. When critical level is reached broker automatically close your trade.

What is mini account

Similar to micro account mini account is for traders who wants to invest money in range from $100 – $500. It is a little bit higher then micro account but it gives you possibility to earn $1 with every pip move.

Every trade/contract that you open you control $10,000. Every pip move gives $1 difference on trading account.

It is 10 times more than micro account and for new traders this is more then enough. Same as for micro account here is better to have larger amount of money on account.

What is standard account

Standard account is account mostly intended for experienced traders but it is not mandatory. Novice traders sometimes use standard account for trading.

This account requires larger amount of deposit and that is from $1000 and above. Minimal deposit depends on the broker with which you have trading account open.

Every trade/contract that you open you control $100,000. Every pip move gives $10 difference on trading account.

Which account to open

Micro, mini or standard account depends on you and your preferences. Do you want to earn more money with 1 pip move or less money with 1 pip move.

Forex account – micro, mini and standard

Those who have more money and know how to trade they will go for standard account. For novice it is the best to go with mini account. With every pip move novice will earn $1 which is a good profit.

Advantage that you can have with mini account over standard account is when you have high amount invested on trading account you can open several trades. If you have 10 orders on mini account it is same as you have 1 order open on standard account.

On mini account each trade gives you $1 for pip move. If something goes wrong and your margin starts to become red you can close one of orders and rest of them leave open. This way your margin will not be overloaded and you will stay in the game with other orders. If market moves in your direction open orders will bring you profit.

As a conclusion mini account gives you more flexibility in trading over standard account but enough profit for 1 pip move. Choose wisely which account is best for you and your trading preferences.

Leverage

Another thing to watch out when choosing account is leverage on that account. Leverage is ability to control large sum of money using small amount of your invested money.

You can choose different leverage like from 1:50 up to 1:500. This is different from broker to broker. 1:50 means that with one 1$ you can control $50 on the market. Broker lends you rest of the money so you can trade on the market and make more money. But also lose more money if market goes against you.

After you have decided which account you want to have, personal/business or small/large you need to decide to open

Live or

Demo account

As said earlier, for beginners it is best to open demo to test and later on to open live account. On demo account you should at least learn how to open and close a trade.

From my experience I can tell you that I have started immediately with live account because demo account could not give me what I wanted and that is – live experience.

Registration

When registering real/live account you will need to do some paper work in order to open it. Those papers could be

Your ID number

Utility bill not older than 3 months with your personal address on it, so they can verify that it is really you and data you have provided are accurate

They need this information to comply with the law. Regulatory agencies wants to protect you so they have set requirements for broker to open an account for you. If you are not required to give them these information’s you should be suspicious because that is minimum what they should ask you to provide.

During registration broker could ask you several information about your trading experience, your trading intentions or how much you will invest. They like to get know you(KYC – know your customer) and your trading intentions.

Please read all what is written in their documents so you are familiar with all costs that can arise, if there is any. Also, pay attention when depositing money over wire transfer how much does bank charge for their services.

Trading account activation

When registration of your live account is done you will receive confirmation mail with account details. Information that trader receives in e-mail can be different because not all forex broker sends same e-mail.

Account number

Password for trading platform

Server on which to connect

In order to activate trading account open your trading platform and follow further steps.

In the MT4 platform right click on the “accounts” menu which is located under “navigator” menu. After right click you will select “login to trade account“.

Use those information’s and enter them into new window that appears, like the picture below this text.

If everything is fine with data entered your trading platform will start to show you real information about trading pair price. If not, you will hear sound that indicates you have entered incorrect data.

Possible cause you did not connect to trading platform with information from broker is:

Wrong login data – check information from broker

Wrong trading platform – use platform from your broker

No internet access – check can you open some other website in your browser in order to verify is internet connection ok

If you have entered all data as shown above and you have tested possible source of the problem and even then you are not connected then please call broker support.

Password change

Password is possible to change immediately after you login into trading account. You are not obligated to leave same password you have received from your broker. You can change it to your desired password where you need to fulfill certain requirements.

Go into MT4 menu “tools” and select “options” with which you will open new window.

“tools” menu for trading account password change

In “options” window under tab “server” you will see option to change password. All other parameters you can leave as they are.

Change trading password under tab “server”

Select “change” and window “change password” will appear where you need to enter new password details. Enter your current password you have received from broker and enter new password. There is 2 places where you need to enter password, “new password” and “confirm“.

Trading account password change

Please pay attention to fulfill all necessary conditions for new password.

At least five symbols

At least two of the three character lowercase, uppercase and digit

After all above is done you will have account on MT4 platform ready for trading. If you are using real account then you will need to fund it with real money.

Transfer of real money on the trader account is done in trader room. I cannot show you steps because trader room is different on each broker. But mostly they have instructions how to transfer money from your credit card or bank account or any other possible channel.

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Frano grgić

A forex trader since 2009. I like to share my knowledge and I like to analyze the markets. My goal is to have a website which will be the first choice for traders and beginners. Market analysis is featured by forex factory next to large publications like dailyfx, bloomberg. Getknowtrading is becoming recognized among traders as a website with simple and effective market analysis.

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