Classic Trading Accounts
If you have already mastered the work with cent accounts, learned to trade a little better and now think that it's time to seriously engage in trading, then you should consider opening a classic (aka standard) forex account. Classic forex trading account will allow you to not only use more tools in the course of the trade, but also significantly will increase your income. This type of account is the most demanded among traders, as it includes all the necessary trading tools and provides good conditions for work. Classic Account is suitable for everyone, regardless of what strategy is applied.
The Peculiarities of the Classic Account
Apart from some additional features, classic accounts are also distinguished by a minimum deposit. While with the cent account you deposit about $20 and trade them, breaking into units; the classic account requires larger amounts and thereby increases the profits.
The balance in the standard accounts is displayed in dollars, where the minimum lot is 0.01 (usually 1 point for the 0.01 lot = $ 0.1).
Moreover, classic or standard trading accounts give you the opportunity to trade with more currency pairs. Most likely, you can select from more than a hundred currency pairs.
Opening a Classic Trading Account
Depending on the brokerage company, the spread can be offered either fixed or floating. The minimum deposit is also determined by the financial intermediary. Brokers usually offer several types of classic or standard accounts, so you can choose what suits you better.
Although you may already understand the market behavior and be used to trading, we still recommend trying this type of account on the demo version first. In this case, demo will allow you to gain some skills in the use of new trading instruments. And since most brokerage companies offer this option for free, using it would definitely be a wise decision.