Trading Accounts Types

To start trading Forex, one needs to open an account with a broker first. A trading account gives access to the FX market and enables you to execute trading operations online.

A trading account is someway similar to a bank account. It can also be used for storing, depositing, and withdrawing money. Traders can use different payment systems to send funds to their accounts and to withdraw them. The full list of the systems available for JustMarkets clients can be found on the Deposit and Withdrawal page.

JustMarkets offers the best trading conditions, providing traders with the necessary trading tools and strategies, low spreads, and flexible leverage. At the moment, several account types are available.

The primary purpose of any trading account is to make transactions (open and close orders) with various financial instruments. The list of these instruments can vary depending on the account type. You can learn more about the features of each instrument here.

Market Order Execution is available on all account types. JustMarkets allows applying such trading strategies as scalping, hedging, trading on the news, etc.

For beginners or those, who want to test their strategies, JustMarkets gives an opportunity to open a free demo account. Demo trading is a simulation of real trading, aimed at practicing and training. A demo account does not require investments and is free to use. It allows you to gain experience in online trading and practical skills of using MetaTrader, as well as to test your strategy without any risks.

Please note that trading on a demo account works on the same principle and reproduces the trading conditions of a real account, but some differences need to be considered.

Demo accounts operate in a simulated market environment. Quotes on the charts of Demo accounts are as close as possible to real ones. However, the simulated liquidity differs from the liquidity on the Live server. All trades are processed internally and do not get into the financial markets.

You can start training with the demo of any JustMarkets account types: Standard Cent, Standard, Pro, or Raw Spread. So, you can also test the trading conditions of the broker and choose the best account for you.

Such kind of trading will form your own vision of the market, which in the future will allow trading confidently in the Forex market. Only when you’ve reached success on the demo account, it’s time to continue with a live trading account.

Standard Cent account is designed for traders-beginners. If the demo trading is left behind, but you are still not ready to deposit much, the Standard Cent account is a perfect option for you. The balance on this trading account is measured in cents. So, your trading strategy can help you earn on the Standard Cent account.

Standard Cent account is:

• An excellent tool to improve your money management skills. Small amounts of money are the most suitable for this purpose.
• A perfect way to practice risk management.
• An opportunity to feel all the emotions of trading with real funds, but with smaller risks.
• An instrument to test the Forex advisers.
• An ability to estimate in practice the services and conditions of JustMarkets.

The Standard Cent trading account has much in common with the Standard account. At the same time, due to the significantly lower risks, it allows you to learn the basics of trading gradually without much stress and gaps in your budget.

Once you feel confident in your skills and succeed in trading on the Standard Cent, you can move on to Standard, Pro, or even Raw Spread Forex accounts.

Standard account is the most popular one. It includes the basic set of tools, tight spreads starting from 0.3 pips, and no commissions. Stop Loss and Take Profit can be set either when opening an order or afterward. A Standard account can be used for trading on daily charts and non-aggressive intraday trading. There are no restrictions on trading strategies for this type of account.

Account with advanced trading conditions, lower spread and no commission fees. Traders can use any style of trading on Pro accounts. This type of account is characterized by narrow spreads, high leverage, lack of commission, and no restrictions on the number of orders and volume.

The main advantage of a Pro account is a wide range of trading instruments: more than 50 currency pairs, indices, metals, and commodities. You can use all your trading and investment ideas.

Raw Spread account gives you a chance to feel the dynamic trading. Those market participants who prefer intraday, frequent inputs and outputs in combination with work on short timeframes often choose precisely this account type. It is considered to be the best one for scalpers. There is a commission for transactions, but the spread is floating from 0.0 pips, which is significantly lower in comparison with other accounts. When trading on this account, you get a whole variety of financial instruments.

JustMarkets has a special option for representatives of the Islamic faith. Sharia law prohibits trading with swaps. This is why special swap-free trading accounts have been created.

A swap is a fee for an operation of closing an order at midnight of one trading day and reopening it at the close price the next day. With swap-free accounts, traders can keep open positions as long as they want, without adding a swap size to or charging it from the account. In this case, the result of trading can be effected only by the change in the exchange rates for a specific period of time.

Using swap-free accounts is optional. To convert your Standard Cent, Standard, Pro, or Raw Spread account into a swap-free one, you should contact the support team.

Swap-free level is a status that allows users to pay no swaps for overnight positions. There are 2 swap-fee levels: Extended and Standard. For clients with the Extended Swap-free level, swaps are not charged for most instruments. You can find more details about swap-free levels here.