Comparing Forex Trading Accounts
The following table will help you understand the differences between our two Forex Trading Account. Depending on your trading profile, you will see which account – the Forex Mini Account. or the Forex Standard Account– is better suited to your expectations and needs. Your level of experience and your risk appetite should also be taken into consideration when opening an account.
Note that Finotec also offers a Forex Demo Accountwhere you may practice trading in real market conditions and with $100,000 in virtual money. The Demo Account and its Demo Platform have the same characteristics as the Standard Account and Platform, except that it’s all virtual and “for fun.”
| Trading ACCOUNT DETAILS | STANDARD ACCOUNT | MINI ACCOUNT |
|---|---|---|
| Minimum deposit | $10,000 | $200 |
| Minimum transaction size* | $50,000 | $10,000 |
| Maximum leverage (on forex) | 100:1 | 200:1 |
| Usual spread (on forex) | 3 pips | 5 pips |
| Usual Pip value (approximately) | $10 | $1 |
| Currency pairs | 32 | 32 |
| Currency options | Vanilla, exotic – binary & barrier | Vanilla & barrier |
| CFDs |  | |
| Commodities/Futures | | |
| SMS alerts | | |
| Detailed technical analyses | | |
| Mobile phone software | |  |
| Direct access to charts, real-time quotes, news and analyses from platform | | |
| 24hr support | | |
| Daily and weekly analysis | | |
| Stop loss | | |
| Trailing stop loss | | |