IronFX: Account types and spread comparison

IronFX has various account types. There are a total of 8 account types, allowing users to perform a variety of trades depending on their needs. Therefore, we will introduce each account type and compare the spreads.

IronFX: How to open a demo account and points to note

IronFX, like other FX brokers, has a demo account. Unlike real accounts, demo accounts do not use real money, so there is no risk. There is no risk at all, so if you are interested in trading, please use it.

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2023.09.17

Main account type

IronFX has 8 account types. There are three types each for Live account and STP/ECN. A live account is equivalent to a standard account, so it is recommended if you are unsure which account to choose. The STP/ECN account is an account type for professionals, and is characterized by very narrow spreads and very high execution power. Cent accounts are for small trades.

copy trading account

Copy trading accounts, which have completely different characteristics from the above, have appeared in recent years. This is simply copying the trades of experienced traders. Bonuses are excluded and leverage is limited to 500x. In addition, the performance fee is 40%.

IronFX: What is copy trading? Features and how to get started

IronFX has a plan called copy trading. Copy trading is one of the account types, but it is clearly different from other account types. Other account types are introduced in the article below, so if you are interested, please take a look.

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2023.09.17

Features of 8 account types

We will explain the characteristics and differences of each account type in order.

live floating account

A live floating account can trade with up to 1,000x leverage and comes with a deposit bonus, so it is equivalent to a standard account at other FX brokers. Live floating accounts are subject to bonuses, so the spread is set wider. Also, when it comes to economic indicators, the spreads tend to be quite wide.

live fixed account

Live fixed accounts have fixed spreads. Other than this, the conditions are exactly the same as the live floating account. The live floating account uses a “floating spread system”. Just this difference. This account type also gives bonuses. Therefore, the biggest feature is that you can always trade with a fixed spread. Suitable for scalping trading.

cent account

Cent account is an account type for beginners. The difference from a live variable account is that it is not eligible for bonuses. It is not suitable for those who want to do serious trading. It can be said that this account type is very suitable for those who want to try trading on a trial basis.

live zero fixed account

Live Zero Fixed Account is an account type characterized by the average spread being fixed at 0. As the name suggests, a zero fixed account has a fixed spread of 0, so it is suitable for scalping trades.

STP/ECN no commission account

STP/ECN accounts have narrower spreads than live accounts. Also, leverage is more limited than on a live account, at 500x. The mechanism is such that the STP method and ECN method are switched depending on market liquidity.

STP/ECN zero fixed account

As the name suggests, the STP/ECN zero fixed account has a fixed spread of 0. Therefore, especially for scalping traders, it is possible to trade without worrying about spreads. The maximum leverage is also 500x, which is suppressed.

STP/ECN Absolute Zero Account

Absolute Zero accounts cannot trade stocks and futures. The margin call is set at 100% and the loss cut level is set at 80%, making it unsuitable for high leverage trading. If it is a high lever trade, it will be a live account.

Comparison of number of stocks by account type

Average spread comparison

A live floating account is equivalent to a standard account in other brokers. Therefore, there is a bonus, but the spread is wide. On the other hand, the STP/ECN account is a professional account, so the spread is extremely narrow. Therefore, if you are mainly fighting scalping trades or short-term trades, you will only be able to choose an STP/ECN account with a narrow spread, although you will not receive a bonus. If you want a bonus, you should settle for a live account.

Open an account for free

IronFX allows you to open an account for free. We will introduce it in the article below, so if you are interested, please open an account.

IronFX: How to open a free account and verify your identity

You can open an account with IronFX for free. It only takes a few minutes to open an account, so if you are interested, please give it a try. This article summarizes how to open an account and answers frequently asked questions, so please refer to it.

italiapuntonet.net

2023.09.17