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Everything you Need to Know About Various Forex Trading Account Types

Everything you Need to Know About Various Forex Trading Account Types

Starting your journey into Forex trading is exciting. You've decided to make the first move, saved up trading capital, and gotten clued up on trading psychology. It’s time to take a look at the different types of Forex trading accounts.

Admiral Markets offers two main Forex trading accounts: Admiral.Markets and Admiral.Prime. Admiral.Markets is the most popular, for reasons we’ll soon discuss, and Admiral.Prime is extremely useful for a different type of trader.

Admiral.Markets

Admiral.Markets is the perfect Forex trading account for any beginner. A major reason for this is the low minimum deposit of 100 AUD or 100 USD, as well as the lack of any commission.

The minimum deposit does not indicate minimal capabilities. The Admiral.Markets account offers the following instruments:

  • 31 Currencies
  • 2 Spot Metal CFDs
  • 2 Spot Energy CFDs
  • 12 Spot Index CFDs
  • 32 Stock CFDs
  • 2 Bonds CFDs

Other main trading features of this account are:

Leverage: 1:500 – 1:25

Spread, pips: From 0.8

Min. order size: 0.01 (step 0.01)

Max. order size: 100

Max open and pending orders: 200

Admiral.Markets allows for hedging, and uses the MT4 platform. It allows for automated trading, providing Expert Advisors, comes with MT4 Supreme Edition Add-On, and One-Click Trading.

The Admiral.Markets account offers a MAC Manager for fund management, and a MAX Investor for investing.

You will be provided with the following news and analysis:

  • real-time news
  • economic calendar
  • autochartist

Admiral.Prime

Admiral.Prime is for you only if you're not just dipping your toes into the water!

It comes with a minimum deposit of 3000 AUD or 3000 USD, and allows you to trade in 44 Currencies.

Other main trading features of this account are:

Leverage: 1:200 – 1:50

Spread, pips: From 0

Min. order size: 0.01 (step 0.01)

Max. order size: 200

Max open and pending orders: 200

Admiral.Prime allows for hedging, and uses the MT4 platform. It allows for automated trading, providing Expert Advisors, comes with MT4 Supreme Edition Add-On, and One-Click Trading.

The Admiral.Prime account does not come with MAC Manager or MAX Investor.

You will be provided with the following news and analysis:

  • real-time news
  • economic calendar

Choose what’s right for you

In trading, it’s vital to always choose what is right for you and your needs. Your personality is what counts here, as well as the reasons you've decided to open a Forex trading account.

Admiral.Markets and Admiral.Prime each offer their own benefits, and provide options for any type of trader.

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