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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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  STP Account ECN Account
Platform MT4, MT5, WEBTRADER, APP MT4, MT5, WEBTRADER, APP
Spreads As low as 1.0 pips As low as 0.0 pips
Minimum Volume per Trade 0.01 lots 0.01 lots
Order Execution Type Market Market
Maximum Numbers of Pending or Open Orders Maximum number of orders: Unlimited.
As for the maximum volume per trade, please refer to this chart STP		 Maximum number of orders: Unlimited.
As for the maximum volume per trade, please refer to this chart ECN
Account Currency Type AUD, CAD, EUR, GBP, USD, NZD AUD, CAD, EUR, GBP, USD, NZD
Payment Methods Visa/Mastercard, E-Wallet, International Bank Wire Transfer.

For more details, please consult your account manager.		 Visa/Mastercard, E-Wallet, International Bank Wire Transfer.

For more details, please consult your account manager.
Trading Products 50+ currency pairs,
700+ stocks, 10+ commodities, 20+ indices		 50+ currency pairs,
700+ stocks, 10+ commodities, 20+ indices
Mobile Trading Tick Icon Tick Icon
One-Click Trading Tick Icon Tick Icon
Hedge Tick Icon Tick Icon
Expert Advisor (EA) Tick Icon Tick Icon
24-Hour Trading Tick Icon Tick Icon
1-to-1 Client Manager Tick Icon Tick Icon
Live Account Tick Icon Tick Icon
Demo Account Tick Icon Tick Icon

Frequently Asked Questions

  • 1. What is a forex trading account?

    A Forex Trading Account is a financial account that allows one to buy, sell, and trade foreign currencies in the international foreign exchange market. It is basically the base on which your forex trading activities will rest, giving you access to various currency pairs and trading tools.

    2. Which account is best for forex trading?

    The best forex trading account depends on individual needs, experience levels, and trading goals. Some of the points to be considered while looking for the best forex trading account are as follows:

    • Account type (standard, mini, or micro)
    • Minimum deposit
    • Availability of leverage option
    • Spreads and commission
    • Trading platforms
    • Customer support

    Based on research and comparison with various brokers, the best forex trading account for an individual is determined according to the varied trading strategy and risk tolerance.

  • 3. How do I open a forex trading account?

    To open a forex trading account, follow these general steps:

    • Research and choose a reputable forex broker
    • Visit the broker's website and locate the account opening section
    • Select the account type you wish to open
    • Fill out the application form with your personal information
    • Provide necessary identification documents for verification
    • Fund your account using the available payment methods
    • Download and install the trading platform
    • Start trading

    4. What types of forex trading accounts are available?

    A broker typically offers the following types of accounts to a forex trader:

    • Standard Account: Primarily meant for an experienced trader who should be ready to hold at least a higher minimum deposit and lot sizes.
    • Mini Account: It is ideal for intermediate traders with a smaller minimum deposit and lot size.
    • Micro Account: Good for the new trader with the smallest lot sizes and low minimum deposits.
    • Demo Account: This account is used when one wants to practice trading by using virtual money to test strategies without taking real risks.
    • ECN Account: This account provides direct access to the interbank market offering tighter spreads but more commissions.
    • Managed Account: The professional traders manage the account for you; on your behalf, they take care of your funds.

  • 5. What is the minimum deposit required for a forex trading account?

    Most brokers have a minimum deposit requirement for trading accounts, though it may vary slightly depending on the type of account. The minimum deposit can range from $5-$10 at some brokers to $100 or even more at others. Generally, standard accounts have higher minimum deposits than mini or micro accounts.

    6. How do I choose a forex broker?

    There are several recommendations for choosing the right forex broker, which include, by and large, checking on:

    • Regulation and licensing
    • Broker's trading fees (spreads and commissions)
    • Number of offered currency pairs and financial instruments
    • Quality level of trading platforms and tools
    • Caliber of customer support
    • Speed and reliability of executions
    • Quality of education
    • Types of accounts offered and their features
    • Options for deposit/withdrawal
    • Company reputation and user reviews

    Do not rush to choose a broker. Take your time to study many brokers in the lists before deciding.

  • 7. What are the fees associated with a forex trading account?

    Common charges that apply to forex trading accounts:

    • Spreads: The difference between the buying price of a currency pair and the selling one.
    • Commissions: They can be a flat amount or percentage and are charged per trade.
    • Swap or rollover fees: Charged to hold an open position overnight.
    • Inactivity fees: Charged to accounts that have been dormant.
    • Deposit and withdrawal fees: These are subject to the payment method used.

    Do not forget to look at the fee structure for your broker before you open an account.

    8. Can I open a forex trading account with multiple brokers?

    Yes, you are capable of opening several forex trading accounts with different brokers. Such a procedure is called multi-broker trading. Such technique can bring several benefits:

    • Access to different conditions for trading and instruments.
    • Ability to compare services and quality of execution.
    • Diversification by risks.
    • Possibility of making use of many diverse kinds of promotions and bonuses.

    But managng multiple accounts consumes your time and energy to handle different programs. Therefore, as it is tough to hold several accounts, consider your ability to deal with multiple websites productively.

  • 9. How do I manage risk in my forex trading account?

    Most importantly, managing risk is the key to successful trading in Forex in the long run. Let's now discuss some of the crucial practices for managing risk:

    • Set up stop-loss orders to limit the probability of losing.
    • Implement proper position size as per your account balance.
    • Distribute your trades over different currency pairs.
    • Avoid over-leverage by using adequate leverage ratios.
    • Continuously educate yourself about market trends and analysis techniques.
    • Use a demo account in testing strategies before risking real money.
    • Maintain a trading journal for tracking and analyzing your performance.
    • Set reasonable profit targets and follow a designed trading plan.

    10. What are the benefits of using a demo account before opening a live forex account?

    A demo account, also known as a practice account, offers several benefits for both novice and experienced traders:

    • Risk-free practice: Test various strategies without even risking a penny.
    • Familiarization with the trading platform: Familiarize oneself with the trading platform, its features, and tools.
    • Experience market conditions: See how currency pairs behave at real-time.
    • Develop and refine trading strategies: Develop and refine strategies that would determine which of these might likely be successful.
    • Build confidence: Confidence will grow as you build up your experience and comfort with the mechanics of forex trading.
    • Assess broker performance: Confirm the speed and reliability of the broker's execution.
    • Learn risk management: Attempt to set up stop-losses and take-profit orders.
    • Understand emotional aspects: Try to grasp the psychological hurdles of a trade.

    Most great brokers provide free demo accounts so you can practice before opening up a live account for forex trading.

Start trading with the world’s fastest-growing broker

WANT TO TRY A DEMO ACCOUNT? CLICK HERE

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RISK WARNING
All investments entail risks and may result in both profits and losses. In particular, trading leveraged derivative products such as Foreign Exchange (Forex) and Contracts for Difference (CFDs) carries a high level of risk to your capital. All these derivative products, many of which are leveraged, may not be appropriate for all investors. The effect of leverage is that both gains and losses are magnified. The prices of leveraged derivative products may change to your disadvantage very quickly, it is possible for you to lose more than your invested capital and you may be required to make further payments. It is important that you understand that with investments, your capital is at risk. Past performance is not a guide to future performance. It is your responsibility to ensure that you make an informed decision about whether or not to invest with us. Before deciding to invest in any financial product, you should carefully consider your investment objectives, trading knowledge and experience and affordability. You should seek independent professional financial advice if you do not understand the risks involved. You should only trade in Forex and CFDs if you have sufficient knowledge and experience of the risks involved in trading such products and if you are dealing with money that you can afford to lose. STARTRADER International PTY Limited assumes no liability for any loss sustained from trading in accordance with a recommendation. Trading via this material is with STARTRADER International PTY Limited.

REGIONAL RESTRICTIONS
This material, including the information and materials contained in it, is not directed at, or intended for distribution to or use by, any person or entity who is a citizen or resident of the following countries: Afghanistan, Cuba, Eritrea, Iraq, Islamic Republic of Iran, Israel, Liberia, Libya, Malaysia, Nicaragua, Pakistan, Russian Federation, Somalia, Syrian Arab Republic, Sudan, United States, Italy, Ukraine, Malaysia, France, Spain, Estonia, Slovenia, Finland, Denmark, Indonesia or any other jurisdiction where such distribution, publication, availability or use would be contrary to applicable law or regulation.

Startrader Financial Markets Limited. Company Registration Number: 66663183. Physical Address: Suite 201, 2nd Floor, The Catalyst, 40 Silicon Avenue, Ebene Cybercity, Mauritius. Registration Address: Suite 201, 2nd Floor, The Catalyst, 40 Silicon Avenue, Ebene Cybercity, Mauritius. Tel: +61 2 9925 4396. Email: [email protected].

STARTRADER Limited is regulated by the Financial Services Authority ("FSA") in Seychelles and holds License No. SD049. Registered under Registration Number 8427362-1, STARTRADER’s physical office is located at Block B, Room 2, No. 2, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles, with the registered address at Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles. Tel: +248 4325865. Email: [email protected].

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