Forex standard account is a popular type of forex trading accounts. Standard accounts offer better trading perks and profit opportunities allowing traders to trade standard lots of currency.
What is the Forex Standard Account?
The standard account is usually a type of account where the spread includes the premium of the market-marker without adding extra commission to the trading volume. Basically, the standard account is can come with a fixed spread or floating spread. Each type of spread can have its advantages and disadvantages. Although getting the best quotes is a considered major factor in choosing a forex broker and account type, they do not represent execution quality, slippage, commissions fees, or any other trading conditions that might affect your trading strategy in the forex market.
How to Choose Your Forex Account?
As the forex market is a huge market with various types of investors and traders, there are different varieties of forex account types. Brokerage services usually provide a set of accounts that match the customers’ needs and investment portfolio. These types of accounts can have different levels of minimum deposits, margin, contract size, and even spread levels.
Typically, the brokers can provide different trading conditions and name the account using their own unique names or branded names such as micro account, zero spread account, fixed spread account, professional account, investor account, and more. However, all forex traders understand the main types of forex account based on the lot size.
Standard Account From AximTrade
A forex account is used to trade foreign currencies. Opening a forex trading account is a quite simple process these days given the growth of online forex trading. It requires some paperwork and a few security steps, such as identity verification, and all can be done online. Typically, you open a forex account, deposit money and then buy and sell currency pairs or other trading tools.
But first, you’ll have to choose your forex broker, select an account type, register then activates your account. Once you register your forex account, you will be automatically emailed with the login details and access information for the MT4 platform.
AximTrade provides one of the best standard forex accounts in the market. The minimum deposit required to open an account is $1. The maximum leverage is 1:3000. The minimum lot that can be traded is 0.01 lots while the maximum is 50 lots. There is an average spread of 1.0 – 1.6 pips on major forex pairs. There are no trading commissions on this account and clients can open up to 200 orders at a time.
Standard Forex Account
|Currency Pairs||All Currency Majors|
|Leverage||Up to 1:3000|
|Spread||as low as 1 Pip on Majors|
|Negative Balance Protection||Yes|
|Minimum Trade Volume||0.01 Lots|
Which is Better? Cent account or Standard account?
If you are new to the world of day trading and still have limited experience with forex strategies and limited investment funds, then the cent account is the best account to manage and suitable for the risk management you can control.
With a limited amount of capital, you can practice your strategies and invest with lower risks. However, the gains and profit generated from this account won’t be high, but it is definitely good from the demo account to a real trading account.
On the other hand, professional traders who already established their trading strategies and are confident of opening positions with the regular lot size, better trade using Standard account. Initially, the standard account has float spread and effective trading conditions and as the risks are high, the gains can be rewarding.
Account Types from AximTrade
AximTrade offers a variety of options when it comes to forex accounts. Traders can choose the best account type based on their trading strategy, experience, and capital designed for investment. Choices include Standard, Cent, or ECN trading account. All AximTrade accounts offer negative balance protection with a low spread from zero to 1 pip on all majors. Traders can also enjoy a variety of forex bonus on all account types with a minimum deposit starting from $1. Any trader can hold up to 14 active trading accounts. You are allowed up to 7 Standard Accounts, 2 Cent accounts, and 5 ECN accounts per Active Member Area.
ECN Account: The minimum deposit for the ECN account is $50 while the maximum leverage is 1:1000. The minimum trade volume is 0.01 lots while the maximum tradable lot is 50 lots. The average spread is 0.2 – 0.7 pips on major forex pairs and a commission of $3 per lot is charged. Clients can open up to 200 orders at a time.
Cent Account: The minimum deposit for this account is $1 while the maximum leverage of 1:2000. The minimum number of lots that can be traded is 0.01 lots while 150 lots is the maximum. There is an average spread of 1.0 -1.6 pips on major forex pairs. There are no trading commissions and clients can open up to 200 orders at a time. As a cent account, the lot size is 1,000.
How to Open a Forex Account
Follow these steps to open a Cent forex Account with AximTrade
- To open a forex account, log in to your member account from AximTrade login, and click on the “ + Open Extra Account” button on the top right.
- Select the Cent account and press “Open”.
- Name the Account and create both trading and investor passwords for your account. Note: the investor password should not be the same as the account password. Remember to use both uppercase and lowercase letters, use a combination of numbers and letters. Then click “Done”.
- Now your account is ready for trading. You can find all your accounts in the “My Accounts” tab.
How to Choose Your Forex Broker?
Search for a forex broker with a good reputation so your money and trades will be handled properly. An efficient broker typically includes real-time market execution, favorable trading conditions, providing a wide selection of account types based on the trading capacity of different traders, fast and secure money deposits and withdrawals, competitive spreads, and last but not least, offering multiple trading options with multiple currencies.
It’s also crucial to check whether the broker complies with all regulatory requirements. Make sure you choose a regulated forex broker that protects you from scams and frauds. It is extremely important to remember that your money and personal information should be protected when opening a forex account since brokers can be hacked or go bankrupt.
The AximTrade Group is represented by the following entities and is regulated in various jurisdictions. AximTrade Pty Limited is regulated by the Australian Securities and Investments Commission (ASIC). Huntington Services Limited is an IBC registered in New Zealand and is authorized as a Financial Service Provider (FSP). AximTrade LLC is registered by the Financial Services Authority of Saint Vincent and the Grenadines and by the National Futures Association.
AximTrade adheres to a number of compliance initiatives, including handling client assets, safeguarding client funds, and providing regular financial reports. AximTrade Regulation ensures high levels of accountability and transparency for the benefit of all traders. Aximtrade complies with the Financial Conduct Authority Scheme (BVIFSC), which ensures compliance with the highest international standards and best business practices. It means you won’t have to worry about your funds or the confidentiality of your transactions.
Check the full Aximtrade Review for more insights about the broker’s accountability and reliable services.
Why Choose AximTrade?
AximTrade provides the best conditions for forex traders and investors who want to access the market and trade with cent accounts. As AximTrade allows traders to start with less capital, it is a good option for traders seeking flexibility and fast process registration. Furthermore, the platform is constantly expanding its capabilities to serve all types of traders by offering flexible leverage, low opening balance requirements, tight spreads, and multiple payment options. Discover why traders choose AximTrade as the best broker.
AximTrade is recognized as a top broker because of its top-rated services and a variety of trading options that cater to the needs of individual clients. AximTrade has quickly gained recognition for its exceptional services, remarkable progress, and favorable trading conditions, including tight spreads, lower minimum deposits, a variety of account types, fast order execution, and highly responsive customer service, as well as a wide range of payment options.
Enjoy favorable trading conditions with the AximTrade Cent account, particularly regarding margin and leverage levels. Sign up now at AximTrade in a few simple steps, verify your documents, and start trading today! With a minimum deposit requirement and a diverse array of trading tools, explore luxury trading with the leading broker.