FOREX.com Account Types
A Complete Beginner’s Guide to Forex.com Account Types
Some money tools and services may not be available depending on where you live. Customers from Europe, the United Kingdom, and Australia can only use up to 1:30 leverage.
FOREX.com
At FOREX.com, we offer a variety of flexible forex trading account types to suit different trading needs. Choose from our standard account, commission account, and Direct Market Access account. Discover the benefits and features of each account type and select the one that best fits your trading style. Start trading with confidence today.
Forex Account Types
Forex brokers typically offer various types of trading accounts to cater to the different needs and preferences of traders. Here are some common types of forex trading accounts:
Standard Account
FOREX.com’s Standard account is ideal for casual traders
The Standard Account is the most common type and suitable for most retail traders. It typically offers variable spreads, access to a wide range of currency pairs, and requires a minimum initial deposit, which can vary depending on the region.
- Availability: NFA, CFTC, CySEC, FCA, and CIMA.
- Markets: Forex, stocks, cryptos, commodities, and indices (4500+ CFD assets in total).
- Commissions: Spreads that change from 0.8 pips and a rollover fee for contracts left overnight.
- Platforms: WebTrader, MT4 (under NFA and CFTC).
- Trade size: From 1 micro lot.
- Leverage: Up to 1:50 (NFA, CFTC, IIROC), 1:30 (CySEC, FCA, ASIC), and 1:400 (CIMA).
Special features: Traders registered with the NFA, CFTC, and IIROC are qualified for the active trading program. - Opening an account: You can use a demo account for 30 days. After that, you must pay at least $100 to switch to a real account.
Metatrader 4 Account
FOREX.com MT4 account is best for day traders
- Availability: FCA, FSA (Japan), NFA and CFTC, and CIMA.
- Markets: Forex, stocks, cryptos, commodities, and indices (4500+ CFD assets in total).
- Commissions: Spreads on forex start at 0.8 pips, and there is a reload fee for open accounts overnight.
- Trade size: From 1 micro lot.
- Leverage: Up to 1:30 (FCA), up to 1:50 (NFA and CFTC, IIROC), and up to 1:400 (CIMA).
- Special features: Traders (under NFA and CFTC, IIROC) are allowed monthly money refunds, and VPS is available.
- Account opening: a safe account for 30 days and a $100 minimum payment for a live account.
Metatrader 5 Account
FOREX.com MT5 account is best for day traders.
- Availability: Under the CySEC.
- Markets: Forex, stocks, cryptos, commodities, and indices (4500+ CFD assets in total).
- Commissions: Spreads start at 0.8 pip, and there are rolling fees for positions open for over two days.
- Trade size: From 1 micro lot.
- Leverage: 1:30 (CySEC).
- Account opening: You can try a test account for 30 days and then open a real account with a minimum payment of $100.
STP Pro Trading Account
FOREX.com’s STP Pro trading account is best for high-volume traders.
- Availability: Under the NFA and CFTC.
- Markets: Forex, gold, silver, futures, and futures options trading.
- Commissions: This account doesn’t have a spread; each spot has a set commission.
- Trade size: From 1 normal lot.
- Leverage: 1:50 or more.
- Special features: You can get lower commissions based on how much you trade, and all money transfer fees will be paid for you.
- Account opening: Institutional traders only; $100 is required to start the account. However, the broker recommends a deposit of at least $1000.
FOREX.com Commission Account is best for tight spreads and set commissions.
A Commission Account, also known as an ECN (Electronic Communication Network) account, offers raw spreads with a commission charged per trade. This type of account may appeal to active traders looking for tighter spreads and more direct market access.
- Availability: CIMA, NFA, and CFTC.
- Markets: Forex, stocks, cryptos, commodities, and indices (4500+ CFD assets in total).
- Commissions: Spread on forex starts at 0.2 pips, with a $5 commission per lot exchanged and a rollover fee.
- Trade size: From 1 micro lot.
- Leverage: 1:50 (NFA and CFTC) and 1:400 (CIMA).
- Features: You are qualified for the Active Trader Programme.
- Account opening: A sample version is offered for 30 days, and the lowest payment for a real account is $100.
Islamic Account
FOREX.com Islamic account is best for Muslim sellers.
Forex.com may offer Islamic accounts, also known as swap-free accounts, for traders who adhere to Islamic finance principles. These accounts do not incur overnight interest (swap) on positions held for more than 24 hours.
- Availability: Under NFA, CySEC, CFTC, FCA, and CIMA.
- Markets: Forex, stocks, cryptos, commodities, and indices (4500+ CFD assets in total).
- Commissions: Spreads start at 0.8 pips and stay the same; you won’t find bigger spreads.
- Trade size: From 1 micro lot.
- Leverage: Up to 1:50 (NFA, CFTC, IIROC), 1:30 (CySEC, FCA, ASIC), and 1:400 (CIMA).
- Features: There are no swap costs.
- Opening an account: Before you open a real account with a minimum investment of $100, you can try it out risk-free.
Managed Account
FOREX.com’s DMA account is best for high-volume users.
Some brokers, including Forex.com, may offer Managed Accounts, where professional money managers or traders manage the account on behalf of the investor. This option is suitable for those who prefer a hands-off approach to trading.
- Availability: Under the FCA, IIROC, and CIMA.
- Markets: Forex, stocks, cryptos, commodities, and indices (4500+ CFD assets in total).
- Commissions: You only have to pay a normal commission, not a trading spread.
- Trade size: From 1 normal lot.
- Leverage: Up to 1:30 (FCA), up to 1:50 (IIROC), and up to 1:400 (CIMA).
- Special features: You can get lower commissions based on how much you trade, and all money transfer fees will be paid for you.
- Opening an account: The lowest investment is $100, even though the recommended amount is at least $1000. Only big buyers can use it.
Corporate Account
The FOREX.com Corporate account is the best option for institutions
Corporate Accounts are designed for businesses or corporations that wish to trade forex. They may have specific requirements and benefits tailored to corporate needs.
- Availability: Under CySEC, FCA, and FSA (Japan).
- Markets: Forex, stocks, cryptos, commodities, and indices (4500+ CFD assets in total).
- Commissions: 0.8 pips spread; overnight rollover charge on open positions.
- Trade size: From 1 micro lot.
- Leverage: 1:30 (CySEC, FCA).
- Special features: It can be used by multiple authorized users, and a company can make cash payments.
- Opening an account: The initial investment is $100.
VIP or Premium Account
The FOREX.com Professional account is best for experienced traders
Forex.com may offer VIP or Premium Accounts for high-net-worth individuals or experienced traders who qualify for additional benefits and personalized services, such as dedicated account managers and lower fees.
- Availability: Under the FCA.
- Markets: Forex, stocks, cryptocurrencies, commodities, indices, and coins (4500+ CFD assets in total).
- Commissions: Only a floating spread that starts at 0.8 pips and a rolling fee if you keep a contract open for more than two days.
- Trade size: From 1 micro lot.
- Leverage: 1:400 or more.
- Special features: You can get money back monthly and use their Active Trader program to your advantage.
- Account opening: $100 as a minimum payment or $1000 for improved position management.
Conclusion
When it comes to forex trading accounts, FOREX.com is aware that traders have a variety of requirements and preferences. Because of this, we provide a variety of account kinds with a range of features and benefits to accommodate all traders. Our flexible account choices offer the tools and resources required to succeed in the Forex market, whether you’re a seasoned pro or fresh to the game. Overall, Forex.com is a reliable company with a good name that has been around for a long time. Select the account type that best suits your goals and trading style, and get started with trading.
F.A.Q
Forex.com is a leading online forex broker that provides a platform for trading various financial instruments, including forex (foreign exchange), cryptocurrencies, commodities, indices, and more. It offers retail and institutional traders access to global markets and a range of trading tools and resources.
To open an account with Forex.com, you can visit their website and follow the account opening process. You will typically need to provide personal information, financial details, and verify your identity. Different account types may have varying requirements.
Forex.com offers various types of trading accounts, including Standard Accounts, Commission Accounts, Islamic (Swap-Free) Accounts, and potentially others tailored to specific regions and client needs.
Forex.com offers a range of financial instruments, including major, minor, and exotic forex currency pairs, cryptocurrencies, commodities like gold and oil, indices, and CFDs (Contracts for Difference) on various assets.
Yes, Forex.com is a regulated broker in various jurisdictions. It is regulated by financial authorities such as the Financial Conduct Authority (FCA) in the UK and the Commodity Futures Trading Commission (CFTC) in the United States.
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Written By: Allen Matshalaga
Allen is a professional forex trader, blogger, and online enthusiast who spends most of his time testing and reviewing legit ways of making money online and is determined to help others succeed.