COMPARE ONLINE FOREX ACCOUNTS
An online Forex account is an account that can hold and trade Forex currency pairs. When choosing a Forex Broker, focus on (i) safety of money, (ii) fund methods, (iii) trading cost, and (iv) available asset index.
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BROKERAGE |
TRADING FEATURES |
TRADING PLATFORM |
FUNDING TERMS | WEBSITE |
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□ FP MARKETS
Foundation: 2005 License No:
US: No |
Broker Type: ECN/STP
Leverage: 500:1
Auto-Trading: Yes
Scalping: Yes
Social Trading: No
PAMM Accounts: Yes
Free VPS: Yes
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■ MetaTrader-4 ■ MetaTrader-5 ■ IRESS Trader ■ WebTrader |
■ Current Promotion: Free VPS ■ Minimum Deposit: $100 ■ DEPOSIT METHODS Wire | Cards Skrill | Neteller FasaPay |
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□ IC MARKETS
Foundation: 2007
US: No |
Broker Type: ECN/STP
Leverage: 500:1
Auto-Trading: Yes
Scalping: Yes
Social Trading: No
PAMM Accounts: Yes
Free VPS: Yes
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■ MetaTrader-4 ■ MetaTrader-5 ■ cTrader |
■ Current Promotion: Free VPS ■ Minimum Deposit: $200 ■ DEPOSIT METHODS Wire | Cards Skrill | Neteller WebMoney |
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□ FXTM
Foundation: 2011 License No:
US: No |
Broker Type: ECN/STP
Leverage: 30:1
Auto-Trading: Yes
Scalping: Yes
Social Trading: No
PAMM Accounts: Yes
Free VPS: Yes
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■ MetaTrader-4 ■ MetaTrader-5 |
■ Current Promotion: Loyalty Program (rebates) ■ Minimum Deposit: $10 to $500 for ECN accounts ■ DEPOSIT METHODS Wire | Cards Skrill | Neteller WesternUnion | Bitcoin |
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□ JUSTFOREX
Foundation: 2012
US: No |
Broker Type: DD/STP
Leverage: 500:1
Auto-Trading: Yes
Scalping: Yes
Social Trading: No
PAMM Accounts: No
Free VPS: No
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■ MetaTrader-4 ■ WebTrader |
■ Current Promotion: 100% Welcome Bonus (maximum 20,000 USD) ■ Minimum Deposit: $1 ■ DEPOSIT METHODS Wire | Cards Perfect Money | Neteller FasaPay | Qiwi Bitcoin | Bitcoin Cash |
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□ LQDFX
Foundation: 2015 US: No |
Broker Type: ECN/STP
Leverage: 500:1
Auto-Trading: Yes
Scalping: Yes
Social Trading: No
PAMM Accounts: Yes
Free VPS: No
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■ MetaTrader-4
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■ Current Promotion:
■ Minimum Deposit: $20 ■ DEPOSIT METHODS Wire | Cards Skrill | Neteller | FasaPay UnionPay | UPaid Card |
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□ FBS
Foundation: 2009
US: No |
Broker Type: ECN/STP
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■ MetaTrader-4 ■ MetaTrader-5 |
■ Current Promotion: $123 Free Bonus 50% Deposit Bonus ■ Minimum Deposit: -$1 (Cent Account) -$500 (Standard Account) ■ DEPOSIT METHODS Wire | Cards Skrill | Neteller WebMoney +and more |
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Starting an Online Forex Account
Typically, you open an account, upload the documents verifying who you are, deposit some money, and then you can buy/sell Forex currency pairs. As concerns the verification process, new online Forex accounts require the following documents:
(a) Proof of Identification (ID, Passport, or Other)
(b) Proof of Address (a Bill in your name)
(c) If you want to use a Credit/Debit card, then a 2-side photocopy of your card
What is a Managed Account? A managed account is a fully segregated brokerage account, individually owned by an investor but managed by a professional money manager on his behalf. Money Managers can access that individual account only for opening, modifying, and closing trading positions. A managed account offers the chance to common investors to have their money managed by professional traders, but to maintain full control on their capital, and enjoy safety and real transparency.
Major Types of Managed Accounts
Money managers trade all investor’s accounts via a large master account. The exact structure of this arrangement follows four modules: PAMM, MAM, LAMM, and Pooled Accounts.
(i) PAMM (Percent Allocation Management Module)
A PAMM account type allows investors to allocate only a percentage of their entire capital to reflect a master account. The PAMM account type is designed to distribute all gains, losses, and fees on an equal percentage basis. In other words, all investor accounts get the same percentage returns no matter the size of their accounts. In addition, an investor can select to follow different money managers on the same account. The deposit requirements usually start as low as $500.
