Online Forex and CFD Trading Account Types

Online foreign exchange trading should be done with your personal requirements in mind. This is why reputable forex brokers offer many different trading account types, which differ according to the leverage sizes, deposit amounts, and allowable trading volumes. Some brokers offer three types of solutions in trading accounts for trading platforms like MetaTrader 4 and NetTradeX. In some cases, a forex trading account and online CFD with a reputable broker can be in one of three currencies, which you can choose, like USD, JPY, and EUR.

A standard trading account lets you trade in those three currencies, with an initial deposit from 1000 USD or EUR or 100000 JPY. It does not have a limit to the maximum equity, and its leverage is 1:1 to 1:200 with a minimum volume of the deal in 10,000 units if you use NetTradeX, and 0.1 lot if you use MetaTrader 4. A beginner account can have an initial deposit of one to 3000 USD or EUR or 100 to 300000 JPY, with a maximum equity of 5000 USD or EUR and 500,000 JPY. The minimum volume of the deal for NetTrade X is 100 units, and the leverage is 1:1 to 1:400. Demo accounts in do not have a required initial deposit, but it can have a 1:1 to 1:400 leverage and 100 units of minimum volume of the deal.

MetaTrader 4 can get you started with a micro account, which requires an initial deposit of one to 3000 USD or EUR, or 100 to 300,000 JPY. The maximum equity is 5000 USD or EUR, and 500,000 JPY, with a leverage of 1:1 to 1:400, and a minimum volume of the deal at 0.01 lot, which is similar to the demo account.

Apart from real trading accounts where you can trade and fund real money, online forex and CFD brokers offer free demo accounts to help you get started in trading. A demo account operates through virtual funds for the sole purpose of helping you study and get used to the functions of each trading platform while testing different trading strategies until you find one that suits your style and requirements.

If you are new to forex, a seasoned CFD and forex broker can help you determine which account is right for you. Some companies offer Islamic trading accounts where swaps are not calculated. These trading accounts are designed for traders who belong to the Islamic region and would love to trade while being compliant with the Shariah law.

Araik Zohrabyan is the Public Relations Officer at IFC Markets He provides current and summarized information to enhance business awareness.