Option ICMarket account types How suitable for business strategy, transaction quality and profit optimization is the question of many investors. The reason is because this reputable Forex broker offers a variety of account types for clients with different features and uses, so users are confused about which account to choose. The following article will provide information about ICMarket account types to make your choice easier.
What types of accounts does ICMarket have?
ICMarket is considered a reputable Forex broker in ECN form, with the client segment being long-time traders with high trading volume. ICMarket offers 3 main account types, each serving different trading purposes to meet the needs of many traders, including:
- Gross Spread Account (MT4 and MT5)
- Gross Spread Account (cTrader)
- default account
Gross Spread Account (MT4 and MT5)
Raw Spread is a popular account type with extremely fast execution with almost no latency because the Raw Spread account servers for MT4 and MT% are located at the Equinix NY4 data center in New York. Using this account, you will incur a commission of $ 3.5/lot for each order action, that is, the amount for each time you enter or close an order you will lose $ 3.5. The total is $ 7/standard trade lot.
This account is suitable for day trading or surfing. The highlight of this account type is that the spreads are extremely low, reaching zero, which means that the highest bid price and lowest ask price are equal. According to statistics, the average spread of the EUR/USD currency pair is only 0.1 pips. Minimum deposit is $ 200 with forex leverage up to 1:500.
Gross Spread Account (cTrader)
Raw Spread (cTrader), although developed later, has many notable advantages. It is a trading platform from Spotware (UK) with an attractive design interface, it can connect through the cloud to save models or indicators. This account type is available in Vietnamese language and Vietnam time zone. However, this account does not support many indicators or EAs and the mobile trading platform is not very fast.
With a Raw Spread (cTrader) account, a commission of $ 3 will be charged for each order action, which means a total of $ 6/lot of standard trades, including $ 3 entry and $ 3 closing, if the conversion normal is the same. at 0.6 pips. Trading is done on the cTrader platform, distributed between buying and selling from 0 pips. The minimum deposit amount for this account on ICMarket is $ 200, leverage 1:500.
default account
The standard account is the most affordable account type. You won't have to pay commissions like Raw Spread accounts, but on the contrary, spreads are better from 1 pip for major currency pairs and better for less popular currency pairs, up to 5-10 pips. . The standard account on ICMarket supports up to 64 different currency pairs and 16 commodities.
The pattern works on MT4 and MT5 platforms with order execution speed and latency equivalent to Raw Spread accounts (MT4 and MT5). Similar to the Raw Spread account, the minimum deposit for the Standard account is $ 200, leverage up to 1:500 and pip spreads of 0.6.
View more:
Which ICMarket account should I choose to trade?
There are 2 main disadvantages if you choose the Standard account. With short term trading, traders will normally only make profits for a few pips. If you use this account, trading a position can take 2-3 pips, which represents most of your profit. Also, when you take profit at a certain price, due to the change and volatility of the spread, the price needs to go beyond your profit level in order to be able to execute the order.
So the Raw Spread account is the choice that not only helps you maximize profits but also gives you the opportunity for all short term trading without incurring huge spreads. Assuming the EUR/USD currency pair has an average spread of only 0.1 pips, i.e. you pay only $ 1 when trading 1 lot with a volume of 100,000 USD and an additional spread of $ 7.
More importantly, you are not afraid of spread fluctuations that affect your trading results. Furthermore, with liquidity from 25 banks and different underground sources of liquidity, ICMarket's Raw Spread account was created for scalpers. Raw Spread account servers for MT4 and 5 are located in the Equinix NY4 data center in New York, which ensures the fastest possible connectivity and execution and virtually zero latency.
After choosing the right account type, proceed to register on the Icmarket exchange we share to experience attractive transactions.
Epilogue
here is the information ICMarket account type you can query. Choosing the right account will help you maximize your trading potential and maximize your desired profits. If you think ICMarket is not suitable for your trading style, check out the most reputable exchanges on our page.
View more: