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The types of trading accounts

 

Each type of accounts provided by MyForexGain Company offers universal trader’s tools for working on the international financial markets. It does not matter which type of accounts you choose: you will anyway have access to all the trading symbols employed with MyForexGain Company.

In order to make sure that every trader achieves maximum efficiency of the trading strategy, two account types were developed by the MyForexGain Dealing Center specialists. The difference between these two types of trading accounts consists in the method of calculation of spreads and commissions which are chosen by the trader when opening an account.

Standard trading accounts

This type of accounts implies Standard trading terms without any fees for working on Forex. Using trading instruments, a trader pays a fixed spread when making a deal. Insta.Standard accounts are ideal for traders of any level as they allow carrying out a deal with a classical spread without fees. This account type can be called universal one, because a trader can change his/her trading leverage anytime and work with a suitable for him/her amount of deposit. The capabilities of the account allow trading in Micro Forex format (deals with margin from 1-10 USD), as well as in Mini Forex format (margin from 100 USD) and Standard Forex format (margin from 1000 USD).

Eurica trading accounts

The account of this type does not require any spread to be paid at opening a deal. For most currency instruments of Insta.Eurica accounts there zero spreads. This feature makes the BID price always equal the ASK price. However, it should be mentioned that offered price runs higher than the BID price (on the basis of which a chart in the trading terminal is plotted) by half of the standard spread for a given trading instrument which is rounded up to its integral value due to some technical peculiarities of MetaTrader 4.00 platform. We recommend beginners to choose this type of accounts because it is not necessary to take spread into consideration when using pending orders: they are executed when the price reaches its value if the spread is equal to 0. Before GTC orders placing and market entrance there is no necessity to calculate spread influence on the position result, this makes technical analysis usage highly effective. Before GTC orders installation and market entrance there is no necessity to calculate spread impact on the position result. It makes the technical analysis more efficient. In spite of the fact that Eurica accounts allow beginners feel the market in a very short term, using more clear system of deals processing, the given type of accounts can be used by professional traders, since its trading conditions are similar to those of the Standard account type.

Cent.Standard and Cent.Eurica trading accounts

Cent.Standard and Cent.Eurica account types are meant for beginning traders and oriented to those clients who learn trading and for this purpose they need access to the least deal volume possible. On these accounts Micro Forex is available with the lot volume equal to 0.0001 of the market lot (the lot costs 0,1 US cent) allows practicing almost without any risks for deposit. Also this type of accounts suits those who would like to try trading strategies with minimal risks employing the deals from 0.0001 lot. Apart from availability of the smallest deal volume possible - 0.0001 of the market lot - holders of Cent.Standard and Cent.Eurica accounts enjoy the same trading terms as those of Insta.Standard and Insta.Eurica accounts. The only constraint is maximum deposit size for cent group accounts of Cent.Standard and Cent.Eurica due to their directivity to the beginning traders. For more experienced traders it is recommended to open accounts of .Standard and .Eurica types which do not have any size constraints for maximum deposit and deal volume.

Minimal deal size

The minimal size of a deal is 1 lot (USD 1 for a pip) for accounts of Standard and Eurica types with balance more than USD 100 000 or its equivalent in other currencies. For accounts with the balance running over USD 5000 or its equivalent in another currency the minimum deal size of 0,1 lot (USD 0,10 for a pip) is possible at the company's discretion.

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