Brokers offer multiple account types, each designed for different trading styles and experience levels. Choosing the wrong one can cost you money through wider spreads, unnecessary commissions, or position sizes that do not match your risk tolerance. This guide breaks down every major account type.
The Standard account is the default choice for most traders. The broker's revenue is built into the spread, so there is no separate commission charge. This makes cost calculation simple: you pay the spread and nothing else.
Best for: Beginners, swing traders, anyone who wants simple all-inclusive pricing.
On XM, the Standard account starts from 1.0 pips on EUR/USD, while the Ultra Low variant starts from 0.6 pips — both with zero commission. On Exness, the Standard account averages 0.6 pips.
ECN (Electronic Communication Network) accounts give you direct access to interbank liquidity. Spreads are raw — meaning the broker does not add any markup. Instead, you pay a fixed commission per lot.
Best for: Active traders, scalpers, algorithmic traders, anyone who trades more than 5 lots per day.
The total cost on an ECN account can be lower than a standard account if the raw spread is tight enough. For example, a 0.1 pip spread + $7 commission = $8 total cost vs. a 1.0 pip standard spread = $10 total cost.
Micro accounts use smaller lot sizes than standard accounts. One micro lot equals 1,000 units of the base currency (vs 100,000 for a standard lot). Cent accounts go even smaller — one lot equals 1,000 units denominated in cents.
Best for: Complete beginners learning to trade, strategy testing with real money, traders with very small accounts.
Exness offers a Standard Cent account that lets you trade with cent-denominated balances. A $10 deposit shows as 1,000 cents, making it psychologically easier to manage risk while still experiencing real market conditions.
Zero spread accounts maintain 0.0 pip spreads on selected instruments (typically the top 30 most liquid pairs) for the majority of the trading day. They charge a per-lot commission that varies by instrument.
Best for: Scalpers who need the tightest possible entry, high-frequency traders, traders who value transparent pricing.
Every reputable broker offers a demo account with virtual funds. The market data is real — only the money is virtual. Use demo accounts to:
Spend at least 2-4 weeks on a demo account before switching to live. The goal is not to make profit on demo but to develop consistent execution habits.
0.6 pips, no commission, $5 minimum deposit. Plus $30 free bonus.
Open XM Account — $30 FreeRisk Warning: Trading forex and CFDs involves significant risk. 74-89% of retail investor accounts lose money when trading CFDs. This article contains affiliate links.