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2020-10-08 • Updated

Best Trading Accounts

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The time has come, and you have finally decided to trade on Forex with FBS? Whatever your strategy might be, FBS has a trading account suitable for you! Select from a variety of account types designed to meet your needs, including Cent, Micro, Standard, Zero spread, and ECN accounts. Each of these accounts has its unique features. Let us give you a short explanation. 

Cent Account

Cent account is the best choice for those who only start learning what trading is and how it works. With a Cent account, you can start trading even with a $1 deposit, and you will not have any commission. This type of account has leverage up to 1:1000, which means that you can control $10 while having just 1 cent. Besides, a Cent account has a floating spread from 1 pip and includes our best bonuses, such as Trade 100 BonusQuick Start bonus, and 100% Deposit bonus.

Micro Account

The next account that FBS offers its clients is a Micro account. A Micro account provides users with increased leverage up to 1:3000 and offers a fixed spread from 3 pips. This account is also commission-free, and the number of maximum open positions and pending orders on it is 200, as in a Cent account. To open a Micro account, you need to deposit $5, and that's it! 

Standard Account 

Standard accounts are usually the most common and flexible account types. To open a Standard account at FBS, you need a bigger deposit – $100. However, the spread on it is floating and starts from 0,5 pip. No commission, again, and the leverage is up to 1:3000. 

Zero Spread Account

A Zero spread account is the best choice for those who prefer fast trading and don't want to pay the spread. The initial deposit here is $500, with a fixed spread from 0 pip (as it comes from the name), and a commission from $20 per lot. Leverage is 1:3000, with a market execution from 0,3 second.

ECN Account

Last but not least is an ECN account. It is the best choice for those who want to feel the full power of trading with ECN technologies. This account type allows buyers and sellers to trade without intermediates. Its main advantage is the fastest market execution, positive spread, and many liquidity providers. There is also no limit to the maximum number of orders, and all trading strategies are allowed.

Sometimes it is not that easy to understand which account is better for you. For this reason, we decided to compare the accounts which have many things in common but, at the same time, have significant differences.

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Cent vs. Micro Account

It may seem that the difference between Micro and Cent accounts is negligible. Although the initial deposit in both accounts is small – $1 in a Cent account, and $5 in a Micro, there are some meaningful differences. Firstly, a Cent account offers users a floating spread from 1 pip when a Micro account offers a fixed spread from 3 pips. Secondly, on a Cent account, the leverage is up to 1:1000, but on a Micro Account, it is 1:3000.

Both accounts support all bonus programs and the following trading instruments: 35 currency pairs4 metals3 CFD

Cent vs. Standard Account

Cent and Standard accounts are one of the most popular within traders. Let's see in detail what are the main differences and similarities between them.

The first noticeable difference is the initial deposit. You can open a Cent account with $1 in your pocket. However, a Standard account requires at least $100. Although both accounts have no commission for traders and the same number of maximum open positions and pending orders (200), a Standard account offers leverage up to 1:3000. In contrast, a Cent account offers only 1:1000. The spread is different, too: it's floating on both accounts, but on a Standard account, it starts from 0,5 pip, and on a Cent one ­– from 1 pip. 

Standard vs. Zero Spread Account

First things first, we see a big difference in the initial deposits between those two accounts. You can open a Standard account with a $100 deposit, but to open a Zero Spread account, you must deposit at least $500. 

A Zero spread account requires a commission from traders – from $20 per lot when a Standard account has no commission. The leverage (1:3000) and the number of maximum open positions and pending orders (200) is the same at both accounts, but the spread is different: floating from 0.5 pip on a Standard and fixed 0 pip on a Zero Spread Account.

Zero Spread vs. ECN Account

These are the accounts with the biggest initial deposit – $500 on a Zero Spread account and $1000 on an ECN. Both accounts have a commission, fixed $6 on an ECN account, and from $20 per lot on a Zero Spread account. An ECN has the smallest leverage – 1:500, and a Zero Spread account has the biggest one – 1:3000. An ECN offers users no trading limits, but a Zero Spread account has a limit of 200 maximum open positions and pending orders. Finally, an ECN account – offers 25 currency pairs when a Zero spread account provides 35.

At FBS, we know that one size never fits all. This is why we offer a variety of account types to meet the needs of individual traders. Join FBS, open an account, and enjoy the beautiful world of trading! 

 

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