The FXChoice classic account lets you trade forex using a floating spread. The minimum deposit is $100, and you must maintain a minimum lot size of 0.01 to 1,000 lots. Leverage can go up to 1:200, and you can use EAs and scalping. This account type allows you to make large volume transactions. The CLASSIC accounts are designed for experienced traders and are suitable for traders who have already developed a strategy.
The Classic account can be opened with as little as $100 and you can trade currencies like stocks and stock indices. The minimum deposit for the classic account is $20, while the pro account is $3.5 higher. The pro account will have tighter spreads because the brokerage firm is able to buy and sell from the largest financial institutions. This means you can trade with greater leverage and still lose less than your initial deposit. The disadvantage of this type of account is that you can only trade in USD.
The Pro account was designed specifically for professional traders. It has more tradeable tools, but comes with an extra $3.5 commission. The spreads on a pro account are likely to be tighter, as they are sourced from the largest financial institutions. However, this means that if you have the money to spend, you’ll be able to take advantage of tighter spreads on the classic. In addition, the Classic account has more currency pairs than the Pro account.
The Classic account allows traders to trade any currency pair, including stocks and indices. The minimum balance in this account is $20. You can also deposit more money than that to increase your profits. The Classic account also offers negative balance protection, which protects against losing more than your initial deposit. This account is ideal for beginners because it is very simple to open and has zero commissions. The Classic account requires no minimum deposit and has no trading restrictions.
The Classic account allows you to trade currencies with a minimum deposit of $100. You can also use EAs and other automated trading programs. You can also create an ECN account if you want to trade with a traditional broker. You can even trade stocks with a LiteFinance Classic account. The only difference between a Classic and a Quantum is the minimum amount you need to deposit. This account allows you to buy and sell in the LiteFinance platform, and you can access the market in a variety of countries.
If you are not interested in earning dividends from your Classic Checking Account, you might want to consider other options. The MAM account is designed for experienced traders. It has the highest APY and no monthly fees. But it does have some disadvantages. You must have three fully funded slave accounts with at least $1000 to be able to open a MAM Account. Moreover, there are also other rules for this type of account.
The account has two tiers: the classic and the institutional. The classic tier is the default tier. There are no rollover fees. The MAM tier is designed for experienced traders. The holder can trade with any size, but it will incur 0.1 pip execution fee. There are also a few special requirements. Typically, the MAM requires at least three fully funded slave accounts. However, the costs are relatively low compared to other U.S. banks.
A Classic Checking Account offers no dividends. The MAM does not earn interest. But it offers a very high APY. A MAM account requires you to have 3 fully funded slave accounts. A MAM is a popular choice for those who don’t need much flexibility. But it can be confusing to manage if you are not experienced in Forex trading. You may want to try another type of account to learn how to trade forex.
A MAM account is for experienced traders. It has an average savings rate. Its monthly fee is $0.30. You can trade with any size you want in MAM mode, but there are special conditions. You must have three fully funded slave accounts to make withdrawals. A MAM account has no minimum deposit and has no commission. You can deposit any amount you wish. In a standard account, you’ll earn 0.1 pips a month.