InstaForex Account Types
InstaForex is one of the best brokers in the financial industry. The company offers customers a perfect environment for trading, decent conditions, platforms, and trading accounts. The latter is especially important for effective trading. Brokers should offer diverse trading accounts, as each of them comes with different conditions. Some accounts may suit beginners, while others may be oriented towards experienced traders.
For the most successful implementation of the trading strategy of each trader, the specialists of InstaForex have developed 3 types of accounts, which are designed to satisfy the needs of traders, depending on their individual preferences in work. The differences in the types of these trading accounts are only in the way of accounting for spreads and commissions, which the trader himself chooses when opening an account. Let’s have a closer look at these accounts.
Let’s start with the Standard account that is the most preferred option for traders not only on InstaForex but other brokers’ websites as well. Standard Account can be opened through the broker’s website. The main deposit currency for Standard Account is EUR and USD. The minimum deposit required to open the account is only 1 USD and this will delight beginner traders. There are no limits on the maximum deposit, however, it is advised for rookie traders to limit themselves and do not spend too much money in the beginning.
Spreads on Standard Account are in the range of 3-7 pips. It is a pretty normal amount. Having access to all trading instruments, the trader pays a fixed spread for each transaction. There are no fees whatsoever to maintain the account. You are exempt from any additional charge. The minimum trade size starts from 0.01 of the lot, while the maximal trade has a limit of 10000 lots. Leverage on a Standard account starts from 1:1 and goes up to 1:1000. Such a high amount of leverage is recommended for experienced traders and it is advisable for beginners to abstain from trading with 1:1000 leverage, in order to avoid potential losses. Leverage is a double-edged sword and requires experience.
Margin is the percentage of the volume of the entire deposit that is pivotal for keeping the opposite positions for a single pair. The margin for locks on InstaForex is 25% and Margin Call – 30%. Margin Call is the level, which, when reached, may be forcibly closed. Stop Out level is 10% and the execution of orders is instant.
Standard accounts are designed for all categories of traders and you can make deals with a classic spread without commission. The main advantage of this type of account is its versatility since a trader can change his leverage at any time and work with the size of the deposit that is convenient for him. The account’s capabilities allow you to trade in different formats.
Working conditions on accounts of this type completely eliminate the need to pay the spread when opening a deal. For the vast majority of Forex instruments on Eurica accounts, zero spreads are applied, so the BID price is always equal to the ASK price. It should be noted that the offered price differs from the BID price (at which the chart is plotted in the platform) upwards by half the standard spread for this trading instrument, rounded up to an integer value, which is due to the technical features of the MetaTrader 4 platform.
This type of account is recommended for novice traders since when working with it, it is not necessary to take into account the spread in the case of using pending orders: in the absence of spreads, all pending orders are triggered exactly at the moment the price reaches their values. Before placing orders and entering the market, there is no need to calculate the influence of the spread on the position result, which makes it possible to use technical analysis as efficiently as possible.
Despite the fact that Eurica accounts allow novice traders to quickly get used to the market, using an intuitive, more understandable system for processing transactions in their work, this type of account can also be actively used by professional traders, since in its trading characteristics it is in no way inferior to accounts of the type Standard.
Account types Cent.Standard and Cent. Eurica is intended for novice traders and is aimed at those clients who are just learning to trade, and therefore they need access to the minimum possible transaction volume. Available on these accounts, Micro Forex with a lot size of 0.0001 market lot (a pip value of 0.1 US cents) allows you to learn with almost no risk to your deposit. Also, this type of account is well suited for those who would like to try out their trading strategies with minimal risks, using the advantage of trades from 0.0001 lots.
In addition to the availability of the minimum allowable trade volume of 0.0001 market lot, the owners of Cent. Standard and Cent. Eurica trading accounts have the same trading conditions as Insta. Standard and Insta.Eurica. The only limitation is the maximum allowable amount of the deposit for the Cent. Standard and Cent. Eurica cent group accounts, due to their focus on novice traders. For more experienced traders, it is recommended to open accounts of the types Insta. Standard and Insta.Eurica, which does not have any restrictions on the size of the maximum deposit with the maximum transaction size limit of 10,000 lots.
The minimum volume of transactions
For Standard and Eurica accounts with a balance and/or funds in excess of 100,000.00 USD, or their equivalent in another currency, it becomes possible to limit the size of the minimum transaction in the volume of 1 lot (~ 1 USD per point).
Which InstaForex account to choose?
InstaForex accounts come with different features and conditions, but obviously, there is no best one. If you are a beginner trader, you might go for cent accounts. Eurica Accounts are also beneficial for rookie traders and standard accounts are mostly for experienced ones, who already have some experience in this field. Therefore, choosing a particular account should be dealt with thoroughly, because it determines the subsequent trading process on InstaForex
What is the minimum deposit to open an account on InstaForex?
All account types that you will see on the website have a minimum deposit of 1 USD. This is an amount that is pretty low and every trader will manage to meet this requirement. Cent Standard and Cent Eurica account however have limits on the maximum deposits – both of them 1000 USD respectively.
What is the offered leverage on InstaForex?
The leverage on InstaForex is as low as 1:1 and ranges to 1:1000. If you start using the leverage of 1:1000 then you should have decent experience and knowledge in trading, because high leverage is associated with great risks and you might lose all your funds. In contrast, low leverage is beneficial for rookie traders.