What you'll learn
- Match an account type to a trading style
- Set a sensible starting deposit
- Recognise the strings attached to some account types
The common account types
| Account | Pricing | Suits |
|---|---|---|
| Standard | Spread only, typically 1 to 1.5 pips on EUR/USD | Beginners, small sizes, infrequent trading |
| Raw, ECN or Pro | Raw spread plus commission per lot | Active traders, scalpers, larger sizes |
| Swap-free (Islamic) | No overnight interest, sometimes a fixed fee after a grace period | Clients whose faith forbids interest; not a free lunch for others |
| Cent or micro | Standard pricing on tiny sizes | Testing with real money at minimal risk |
| Professional | Higher leverage, fewer protections | Experienced traders who qualify and accept the loss of retail protections |
How much to deposit
The minimum deposit is the broker's number; the sensible deposit is yours. Work backwards from position sizing: if you risk one percent per trade and your stop is 30 pips, a micro lot risks 3 dollars, so a 300-dollar account can take that trade. A 50-dollar account cannot take any trade at one percent risk with a sensible stop, however low the broker's minimum. Deposit enough to trade properly or trade on a demo until you can.
Strings attached
- Professional status waives negative balance protection and other retail rights under FCA and ESMA rules.
- Bonuses on standard accounts usually lock withdrawals until a trading volume is reached.
- Swap-free accounts at some brokers exclude certain pairs or add an admin fee.
- VIP or premium tiers with better pricing usually require large deposits or volumes.
Key takeaways
- Standard for small and occasional trading, raw for active trading, swap-free if you need it.
- Deposit enough to size positions at one percent risk with a realistic stop.
- Read the conditions on professional, bonus and swap-free accounts.
Knowledge check
Trading forex, CFDs and other leveraged products carries a high risk of losing money. This lesson is general education, not advice. Risk disclosure.