Forex trading account types are not created equal. Each of them tends to offer diverse characteristics to suit your trading styles, knowledge, and budgets. Different Forex brokers may provide dissimilar types of Forex trading account as well, so understanding the differences would help.
Forex trading account is typically varied in terms of specifications, usage, available features, and funding requirements. Then, why brokerage companies offer different type of Forex trading account? The answer is simple: to suit different types and needs of each customer.
There can be traders who are comfortable to trade up to $100,000 while others may not be confident enough to trade such big amount of money yet. By offering different Forex trading account types, the market can be accessed by more traders with different funding levels.
Offering various types of trading account is also beneficial for the Forex brokers. By accommodating more people in their platform, their balance sheets are supposed to be better. Plus, it can make the Forex market even more liquid too. Not, let’s read on to learn further about each account type.
The Major Types of Forex Trading Accounts in the Market
As mentioned above, there are various types of Forex trading accounts commonly offered by brokerage companies out there. Although they come up with several different names, some of them are basically identical. It makes them could be characterized under the similar category, as follow.
• Micro Trading Accounts
Micro trading accounts refer to a small-cap account that lets you trade in the Forex market without too much money. Different from other Forex trading account types, you can start your venture by funding as low as $100 in your account. Some brokers even adjust this amount for your favor.
• Intermediate Trading Accounts
This is one of the most common accounts with greatest variations in the Forex market. You may know this kind of account in some names like a standard account, classic account, and gold account. It has higher required minimum deposit of $500 to $1000.
• VIP Trading Accounts
VIP, Platinum or Premium accounts are used by VIP traders. This kind of account suits high rollers very well since it is made to be used by those who can afford $10,000 to open the account. VIP accounts tend to come up with a lot of bonuses.
Aside from these main trading account types, there are also other kinds of accounts available in the Forex market. Another one example of Forex trading account types is a swap-free account. This kind of account allows you to hold a position more than 24 hours without getting charged.
Where to Open Any Forex Account Types in the Market
After understanding different types of Forex trading accounts, you must be wondering where to open this account immediately. Taking Didimax’s Forex broker into account is indeed a great option right now. Didimax will make it possible to get your account instantly and easily.
One of the best things about Didimax is that you have a great chance to learn further about the Forex market before starting to trade. With a lot of educational resources available, Didimax will help traders of any levels to continuously learn the market of Forex.
As
the best Forex broker in Indonesia, Didimax offers online seminars and private training for any traders. If you cannot attend a seminar or private training in person, there is a webinar that allows you to learn the Forex market anywhere and anytime possible.
In conclusion, you should know various types of Forex accounts to know which one that suits you best. After that, don’t forget to only open an account with a trusted broker like Didimax. Thus, whatever the Forex trading account types you like are, don’t forget to open it with Didimax.