Trading Account Types
What is a Trading Account?
To start trading Forex, one needs to open an account with a broker first. A trading account gives access to the FX market and enables you to execute trading operations online.
A trading account is someway similar to a bank account. It can also be used for storing, depositing, and withdrawing money. Traders can use different payment systems to send funds to their accounts and withdraw profits. The full list of the payment systems available for JustMarkets clients can be found on the Deposit and Withdrawal page.
JustMarkets offers favourable trading conditions, providing traders with the necessary trading tools, low spreads and robust execution. At the moment two account types are available.
The primary purpose of any trading account is to make transactions (open and close orders) with various financial instruments. You can learn more about the features of each instrument here.
Market Order Execution is available on all account types. JustMarkets allows using such trading strategies as scalping, hedging, trading on the news, etc.
For beginners or strategy testers JustMarkets offers a free Demo account. Demo trading is a simulation of real trading aimed at practicing and training. A Demo account does not require investments and is free to use. It allows you to gain experience in online trading and practical skills using MetaTrader and test your strategy with no risks.
Please note that trading on a demo account works on the same principle and reproduces the trading conditions of a real account, but some differences need to be considered.
Demo accounts operate in a simulated market environment. Quotes on the charts of Demo accounts are as close as possible to real ones. However, the simulated liquidity differs from the liquidity on the Live server. All trades are processed internally and do not get into the financial markets.
You can start training with the demo of any JustMarkets account types: Pro or Raw Spread. So, you can also test the trading conditions of the broker and choose the best account for you.
Such kind of trading will form your own vision, which in the future will allow trading confidently in the Forex market. Only when you’ve reached success on the demo account it’s time to continue with a live trading account.
Pro account is designed for experienced and professional financial markets participants. Traders can use any style of trading on Pro accounts. This type of account is characterized by narrow spreads, high leverage, no commissions, and no restrictions on the number of orders and volume.
You can use all your trading and investment ideas.
Raw Spread account gives you a chance to try dynamic trading. Those market participants who prefer intraday, frequent trading in combination with short timeframes often choose this account type. It is considered being the best one for scalpers. There is a commission for transactions, but the spread is floating from 0.0 pips, which is significantly lower than on other accounts.
JustMarkets has a special option for the adepts of Islam. Sharia law prohibits trading with swaps. This is why special swap-free trading accounts have been created.
A swap is a fee for an operation of closing order at midnight of one trading day and reopening it at the close price the next day. With swap-free accounts, traders can keep open positions as long as they want, without adding a swap size or charging it from the account. In this case, the result of trading can be effected only by the change in the exchange rates for a specific period.
Using swap-free accounts is optional. To convert your Pro or Raw Spread account into a swap-free, you should contact the support team.
|Account currency||USD, EUR, GBP, PLN||USD, EUR, GBP, PLN|
|Max leverage for retail clients||1:30||1:30|
|Max leverage for professional clients||1:300||1:300|
|Commission||3 units of the base currency per lot/side|
|Min order size||0.01 lot||0.01 lot|
|Max order size||100 lots||100 lots|
|Max cumulative volume of positions||No limit||No limit|
|Max orders amount||No limit||No limit|
|Pricing format||5th decimal pricing||5th decimal pricing|
|Contract Size||1 lot = 100,000||1 lot = 100,000|
|Trading instruments||69 Forex + 5 metals + 11 indices + 3 energies + 174 shares||69 Forex + 5 metals + 11 indices + 3 energies + 174 shares|
|Open Account||Open Account|