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Beginners might appreciate the Exness Standard Account better, but experienced traders might choose the IC Markets Standard Account to enjoy safer experience.
IC Markets vs Exness, which one offers the best standard account? Standard account is the most common account provided by forex brokers. However, each broker usually comes up with their own unique advantage. We have to dig deeper into each account's T&Cs and broker testimonials in order to know which is the best in IC Markets vs Exness standard account comparison.
IC Markets Standard Account
IC Markets is an online forex broker operating under the company of International Capital Markets Pty Ltd. Traders under the Australian jurisdiction are provided with the trading service of IC Markets AU that is headquartered in Australia and licensed by the Australian Securities and Investments Commission (ASIC).
On the other hand, non-Australian traders who open an account in this broker are registered under IC Markets SEY that is based in Seychelles, and regulated under the Seychelles Financial Services Authority (SFSA). The dual operation is a result of the relatively new rules from ASIC that prohibit their regulated broker to offer trading services outside Australia.
Classified as an ECN broker, IC Markets provide clients with MetaTrader 4, MetaTrader 5, cTrader as platform trading options. This broker also follows market trends to include Cryptocurrencies as one of its products, enriching its already wide selection of trading assets that include Currencies, Indices, Metals, Energies, Softs, Stocks, as well as Bonds.
The minimum deposit in IC Markets is in the middle range compared to other ASIC-regulated brokers, as it reaches $200 for every client. Market analysis materials are also prepared regularly for trading insights on IC Markets's official website, proving their competence to serve their traders with important contents created by market experts that work specifically for them.
For payment methods, IC Markets allows funding and withdrawal via wire transfer, credit card, PayPal, Skrill, Neteller, FasaPay, UnionPay, as well as Bitcoin via BitPay. The more interesting aspect from this broker is its multi-base currencies that include USD, AUD, EUR, GBP, SGD, NZD, JPY, CHF, HKD, and CAD.
As the trading technology in IC Markets is highly equipped with co-located servers and extremely low latency (especially on cTrader), the broker is widely known for its capability in hosting traders with the special needs for high-frequency trading as well as scalping.
To sum up, IC Markets is a fitting destination for active traders looking for a well-regulated broker. IC Markets is also flexible in terms of base currency and payment methods, signaling their commitment to welcome traders beyond their home country. As of late 2019, IC Markets provided their website in 18 international languages including English, Korean, Indonesian, French, Spanish, Italian, Malay, German, and Chinese.
| 💰Minimum deposits | USD$200 or currency equivalent |
| ⚖Maximum leverage | 1:500 |
| 🔢Spreads | starting from 0.6 pips |
| 💸Commissions | no commission |
| ⚡Execution speeds | around 35 millisecond |
| 💻Trading platforms | MetaTrader4, MetaTrader5 |
| ⛔Stop out level | 50% |
| 🕌Swap-free option | available |
| Instruments | 61 forex pairs;25 indices CFDs; 21 cryptos; +2100 large-cap stocks from ASX, NASDAQ, and NYSE; as well as over 20CFDs on energy, agriculture, and metal commodities (gold, silver, copper, etc.) |
Standard accounts are not IC Markets' forte. In fact, more traders seek out the Australian-based broker to take advantage of their Raw Spread account than the Standard one. Both accounts mainly differ in their trading cost structure.
Raw Spread account allows real market spread starting at 0.0 pips, with a commission fee of $7 per lot per round turn. Consequently, it is most suitable for scalpers and EA users.
IC Markets Standard account applies a marked-up spread starting at 0.6 pips with zero commission fee. It is more suitable for discretionary traders, that is, anyone who aims to control their trades directly instead of using robots or a rigid system.
Exness Standard Account
The choice of broker is adjusted to the needs of each trader. If you are a trader who only needs a basic platform and trading features with the best attributes, then Exness can be your best choice.
Exness covers its lack of feature variations with other advantages like low spreads starting from only 0.1 pip. This is very suitable for traders who use scalping strategies (Scalper). Spreads on major pairs in certain account types can also be as low as 0.0 pip, depending on market conditions.
Not only that, but traders can also enjoy other advantages such as automatic fund withdrawals. Exness processes the majority of client withdrawals instantly, without manual checks; however, withdrawals may be subject tos depending on the payment provider or method of choice.
The safety of traders' funds is also guaranteed as Exness is one of the European-based STP/ECN brokers. Exness's ability to become an official partner of the Real Madrid soccer team for 3 years, starting July 2017, also provides evidence that the company has high solidity.
Deposits and withdrawals may be made 24 hours a day, 7 days a week. However, it is important to note that the company shall not be liable fors in processing deposits and withdrawals if suchs are caused by the payment system.
Traders do not need to worry about transaction fees when depositing and withdrawing. Exness doesn't charge any transaction fees to traders even though some charges may be incurred depending on the payment provider of choice. A variety of payment methods are provided for traders, including Wire Transfer, Bank Card, Neteller, Skrill, and many others.
The financial reports and metrics on the Exness website are audited quarterly by Deloitte, one of the four largest public accounting firms globally.
Moreover, Exness is one of the mote transparent brokers in the online trading industry. Traders can find out all information about this company on the website, such as trading volume, number of active clients, client deposits, company funds, and many more.
The platforms provided by Exness vary in MetaTrader 4, MetaTrader 5, Web, and Mobile platforms. This makes it easy for traders when trading on Exness, as they can also access Exness platforms anywhere and anytime.
Over the years, Exness has developed into a broker that attracts traders. Trader's trust is further enhanced by its compliance with financial regulations like the FCA and CySEC.
One measure of client confidence can be put on the trading volume. By December 2018, their clients' monthly trading volume reached USD348.4 billion and active traders around the world surpassed 50,342.
Through the program offered by Exness, traders also have the opportunity to earn extra income by becoming their partners. From the Introducing Broker (IB) program, partners can earn up to 33% spread commission from every new client that registers with them.
Additional income can also be obtained from Exness Partners. Traders can get a spread commission of up to 25% per transaction made by traders who register through an affiliate link.
When trading with Exness, clients can also make use of its free VPS hosting services. A VPS (Virtual Private Server) offers increased reliability and stability for traders as they can maintain their trades and expert advisors without interruption in the event of unexpected technical issues, such as internet or electricity downtime.
From the review above, it can be concluded that Exness is a favorite broker for traders because of low spreads and flexible account types. This condition is very suitable for traders with limited funds but is in need of more opportunities to get maximum profit. This broker is also well known for its maximum support on both new and existing partners.
| 💰Minimum deposits | $10 on most payment methods |
| ⚖Maximum leverage | 1:unlimited |
| 🔢Spreads | starting from 0.3 pips |
| 💸Commissions | no commission |
| ⚡Execution speeds | less than 1 second |
| 💻Trading platforms | MetaTrader 4 (Standard Cent), MetaTrader5 (Standard), Exness Trade App |
| ⛔Stop out level | 0% |
| 🕌Swap-free option | available |
| Instruments | 100+ forex pairs, 30+ Cryptocurrency CFDs, Precious Metals CFDs, Energies CFDs, Share CFDs, and Index CFDs. |
Exness actually offers two types of standard accounts: the typical Standard and the atypical Standard Cent.
As the name suggests, the Exness Standard account uses the usual USD as the base account currency. It is the most popular account in Exness. Great for all types of traders as the account opens access to a wide range of markets, including forex, metals, cryptocurrencies, energies, stocks, and indices.
The Standard Cent account uses USD Cent as its base account currency. It is designed for beginner traders because it allows them to start trading in a standard account environment while depositing fewer funds. On the downside, the account only allows access to forex and metals.
See Also:
The Best Standard Account
So, which is the best, IC Markets Standard Account or Exness Standard Account? We believe you can see several similarities, such as free commissions, trading platforms, and the availability of swap-free options. There are also huge differences between them, including minimum initial deposits, spreads, stop out levels, and many more.
There is no such thing as "the best Standard account" because what is suitable for John Doe might not be suitable for Jane Doe (and vice versa). However, we can choose which account is the best fit for our needs.
Beginners might appreciate the Exness Standard Account better, as it comes with lower deposit requirements and cheaper spreads. Yet experienced traders might choose the IC Markets Standard Account anyway to enjoy a safer trading experience with faster execution speeds and a functional stop-out feature. The choice is yours.
32 Comments
Raphael
Apr 1 2023
Although I am new here, I believe that standard accounts are typically meant for more experienced traders. However, I can see how standard accounts differ from other account types, such as mini and micro accounts. I've noticed that there are some differences in minimum deposits and stop-out levels for these account types. For example, some brokers only require $10, $100, or even $1 for a mini account, while others require the same deposit as a standard account. The main difference lies in the stop-out level.
Speaking of the stop-out level, I have a question about why IC Markets has a 50% stop-out level, while Exness has a 0% stop-out level. Could you explain what the stop-out level is and how it can impact our trading? Thank you!
Hernan
Apr 1 2023
The stop-out level is basically like a safety net that brokers use to prevent you from losing more money than you have in your account. Let's say you have $100 in your account and you open a trade that requires $50 in margin. If your broker has a stop-out level of 50%, that means that if your account equity (which is your account balance plus any unrealized profits or losses) falls below 50% of the required margin (which in this case would be $25), your broker will automatically close your trade to prevent you from losing any more money. Read more about stop out here : What is Stop Out in Forex?
Now, let's talk about the example you mentioned. If a broker has a stop-out level of 50%, it means that they will close your trades if your account equity falls below 50% of the required margin. On the other hand, if a broker has a stop-out level of 0%, it means that they won't close your trades even if your account equity falls to 0. This can be good in the sense that you won't get stopped out prematurely, but it also means that you're at a greater risk of losing all of your account balance if the market moves against you.
For example, let's say you have $100 in your account and you open a trade that requires $50 in margin. If your broker has a stop-out level of 50%, they will automatically close your trade if your account equity falls below $25. But if your broker has a stop-out level of 0%, they won't close your trade even if your account equity falls to $0. If the trade continues to move against you, you could potentially lose all of your $100.
Alda
Apr 1 2023
When comparing standard and mini accounts, you may notice that some mini accounts have a higher stop-out level than the standard account. For example, a mini account might have a 60% stop-out level while the standard account has a 50% stop-out level. However, this might not be a concern for you since brokers like IC Market and Exness only offer the standard account as their starting option.
The standard account is generally considered to be a flexible option for trading. While it offers more freedom than other account types, it also has certain features that can prevent traders from overextending themselves. As a new trader in the Forex market, I believe that a standard account can be a good choice for generating profits.
Hector
Apr 1 2023
Hey, I was just reading this article and found out about Exness types of standard accounts: the standard account and the standard cent account. As someone who is relatively new to trading, I had never heard of the standard cent account before. I was only familiar with the micro, mini, standard, and pro accounts, which I believe are still available under different names.
So, what exactly is a standard cent account and how does it differ from the other types of accounts offered by Exness?
Kala
Apr 1 2023
One of the main differences between the standard cent account and other types of accounts is the lot size. In a standard cent account, the lot size is 100 times smaller than that of a standard account. This means that traders can trade with smaller amounts of money, which can be a good way to test out new trading strategies or to learn how to trade without risking too much of their capital. (you can read more about that at here : How Does a Cent Account Work?)
Another difference between the standard cent account and other types of accounts is the minimum deposit requirement. While some accounts require a significant deposit to get started, the standard cent account can be opened with a minimum deposit of just $1. This makes it accessible to a wide range of traders, regardless of their budget.
In terms of trading conditions, the standard cent account offers many of the same features as other types of accounts, including access to a wide range of trading instruments, low spreads, and fast execution speeds.
Overall, the standard cent account is a great option for traders who are just starting out in trading or who want to test out new strategies without risking too much of their capital.
Aldi
Apr 5 2023
Hey, just a beginner at here. And it seems the standard account that offered both IC Market and Exness are suitable for beginner and experienced trader because it is offer lower spread and also it doesnt need to pay any commission which I think, it is really can press your fees to the minimum cost. And we can see the comparison and the trading term by both brokers in the table that really completed. It is good article, by the way.
What makes me interesting is the stop out level which IC Market has 50% and Exness has 0%. What is that things and what is the meaning of the 50% and 0% level?
Jose
Apr 6 2023
Stop level is a crucial factor for me to safeguard at least 50% of my invested capital. If you're a trader like me, who places importance on strict money management and avoids taking big risks, then choosing IC Market over Exness would be a better option. However, if you prefer more freedom, enjoy taking on challenges and holding onto longer positions, then Exness would be a better fit for you since you can hold onto your margin until it drops to 1%. The stop level is one of several factors to consider if you're undecided between IC Market and Exness, as they both offer competitive fees
Steven
Apr 6 2023
Hey, I'm just a beginner here, and I came across an article that left me a bit confused about IC Market's spread. In the table above, the article shows that the spread for IC Market starts from 0.6 pips. However, at the end of the IC Market discussion, the author mentioned something about a Raw Spread account that starts from 0.0 pips.
While I can differentiate between the 0.6 pips and the Raw Spread account, what surprised me is the higher commission for the Raw Spread account. As a beginner, I'm not sure which one to choose - should I follow the standard spread or opt for the Raw Spread account?
Kenny
Apr 7 2023
Let me clarify this for you. As mentioned in the article, the Raw spread account offers spreads starting from 0.0 pips, which is almost zero. However, due to the almost non-existent spread, the commission charged may be higher. It's important to keep in mind that both spread and commission are sources of profit for brokers. Therefore, it's normal for brokers to charge a higher commission when offering Raw Spread, as it requires significant infrastructure to maintain such a low spread.
As a beginner, I recommend starting with the standard account, which offers lower spreads starting from 0.6 pips and no commission. However, in the end, the choice of which spread to use depends on the trader's individual trading strategy and preferences.
Evan
Apr 7 2023
AS the comments above, I think the stop-out level is an important concept in the world of forex trading. It refers to the point at which a broker will automatically close a trader's open positions to prevent further losses beyond a certain point. This level is typically set as a percentage of the trader's account balance, and it varies depending on the broker and the type of account.
In the case of IC Markets, the stop-out level is set at 50%. This means that if a trader's account balance falls to 50% of their margin requirements, the broker will automatically close their open positions. For example, if a trader has a margin requirement of $1000 and their account balance falls to $500, the broker will automatically close their open positions to prevent further losses.
On the other hand, Exness has a 0% stop-out level. This means that traders may potentially lose all of their invested funds if their positions move against them. While this may seem risky, it also means that traders have the potential to make larger profits without worrying about the broker closing their positions due to a stop-out level. So, I agree with the other that said this can be factor to choose broker.
Boris
Apr 12 2023
I just read about both brokers and realized that IC Market has a stop level of 50%, whereas Exness has 0%. Comparing the two, it is clear that Exness offers more freedom to traders, especially when comparing their standard accounts. However, I noticed that both brokers only offer standard accounts as their lowest option, and the standard account cent is only for beginners who want to try studying forex with a live account. So, for a beginner, which one of these factors, the stop level or the freedom offered, really matters? Can anyone explain to me? Thank you!
Zouzi
Apr 13 2023
Hey I know your feeling! AS beginner trader, it can be challenging to decide which factor, the stop level or the freedom offered, is more crucial when ing a broker.
A 0% stop level may seem attractive because it allows trades to run indefinitely without being closed out, providing more flexibility to the trader. However, it is important to note that such an approach carries a higher level of risk. A sudden market move could result in significant losses if a stop loss order is not in place. On the other hand, a stop level of 50% may provide more protection for the trader by automatically closing out a trade before it reaches a significant loss. However, this approach may also be viewed as limiting the trader's flexibility in managing their trades.
I guess it is up to you then. If you are a trader that have risky profile, you can choose 0% stop level to maximize your profit. But if you want less risk, just choose stop out level 50% to ensure your money will not loss at all.
Hull
Apr 13 2023
Talking with IC Market, although the spread is more higher than Exness but it still can be traded. Just little bit different and without need to pay commission, make it worth it to try with it. Also what I just realized is the wide ion of assets that can be traded. I mean if you see the table above, you can choose 61 pairs Forex, 25 incides, Energies, commodities, even agliculture and what suprise me is the large stock that offered. About 2100 stocks CFD that you can choose!
But the backdraw here is too many assets that can be traded. as the novices here, i am interesting with the stocks ofcourse. From those stocks, which stocks that might be good for me or generally traded with?
Reza
Apr 13 2023
Sure! As a beginner trader, it can be overwhelming to choose which stocks to trade from the large ion offered by IC Markets. However, a good starting point would be to focus on blue-chip stocks, which are shares of established companies with a good track record of stable performance. These types of stocks are considered less risky and can be a great way to begin trading. Those blue chips include Apple, Microsoft, Coca Cola and etc
Another helpful tip is to diversify your portfolio by investing in stocks across different industries and sectors. This can help to minimize your risk exposure and increase your chances of making profitable trades.
IC Markets offers a wide range of stock CFDs, including popular choices like Apple, Amazon, and Google. It's essential to research and monitor each stock's performance and market conditions to make informed trading decisions.
Don Juan
Apr 14 2023
As the information! You can use indices to identify blue-chip stocks. Some indices that include blue-chip companies are:
Good luck with the Stock Trading!
Hull
Apr 13 2023
Talking with IC Market, although the spread is more higher than Exness but it still can be traded. Just little bit different and without need to pay commission, make it worth it to try with it. Also what I just realized is the wide ion of assets that can be traded. I mean if you see the table above, you can choose 61 pairs Forex, 25 incides, Energies, commodities, even agliculture and what suprise me is the large stock that offered. About 2100 stocks CFD that you can choose!
But the backdraw here is too many assets that can be traded. as the novices here, i am interesting with the stocks ofcourse. From those stocks, which stocks that might be good for me or generally traded with?
Reza
Apr 13 2023
Sure! As a beginner trader, it can be overwhelming to choose which stocks to trade from the large ion offered by IC Markets. However, a good starting point would be to focus on blue-chip stocks, which are shares of established companies with a good track record of stable performance. These types of stocks are considered less risky and can be a great way to begin trading. Those blue chips include Apple, Microsoft, Coca Cola and etc
Another helpful tip is to diversify your portfolio by investing in stocks across different industries and sectors. This can help to minimize your risk exposure and increase your chances of making profitable trades.
IC Markets offers a wide range of stock CFDs, including popular choices like Apple, Amazon, and Google. It's essential to research and monitor each stock's performance and market conditions to make informed trading decisions.
Don Juan
Apr 14 2023
As the information! You can use indices to identify blue-chip stocks. Some indices that include blue-chip companies are:
Good luck with the Stock Trading!
Cancelo
May 22 2023
How is it possible that both IC Markets and Exness offer free commissions? It's quite intriguing to see that these brokers share this similarity, as commissions are typically a common part of trading fees. Can you shed some light on how IC Markets and Exness manage to provide free commissions to their clients? What is the underlying business model or strategy that allows them to offer trading services without charging commissions? It would be fascinating to understand the mechanics behind this approach and how it benefits traders who choose to trade with these brokers.
Lidya
May 26 2023
@Cancelo: Normally, commissions are part of the trading fees, but these brokers have found a way around it.
Instead of charging commissions, they make their money through the spreads. You know, the difference between the buy and sell prices of a trading instrument. So, when you trade with them, you'll still have a spread to consider, but no extra commission charges.
By eliminating commissions, IC Markets and Exness make trading more affordable for their clients. It's a win-win situation. Traders can focus on their trades without worrying about those pesky commission fees eating into their profits.
Of course, it's important to remember that even though commissions are waived, there may still be other fees involved, like overnight financing charges or swap fees. So, it's a good idea to check out their fee structures to get the full picture.
All in all, the free commission approach is part of their strategy to attract traders who want to keep their costs low. It's a way for IC Markets and Exness to stand out in the market and give traders a cost-effective trading experience.
Alejandro
May 29 2023
If I identify as a scalper, how should I approach choosing between Exness and IC Markets, considering their respective account types and features? The article mentions that the Exness Standard Account might be more suitable for beginners due to lower deposit requirements and cheaper spreads. On the other hand, the IC Markets Standard Account is highlighted as a preferred choice for experienced traders, offering faster execution speeds and a functional stop-out feature for added safety.
As a scalper, fast execution speeds are crucial for capturing short-term market opportunities. Given that IC Markets is known for providing faster execution speeds, it seems like an appealing option. However, I'm also interested in considering factors like costs and accessibility. Would the cheaper spreads and lower deposit requirements of the Exness Standard Account make it a viable choice for scalpers as well?
Powell
Jun 8 2023
@Alejandro: In my opinion, when it comes to choosing between Exness and IC Markets as a scalper, there are a few things to consider, my friend. As a scalper, you want to seize those quick market opportunities, so fast execution speeds are key. IC Markets has a good reputation for providing faster execution, which can be a real advantage for your style of trading. Being able to enter and exit trades withouts can make a big difference in scalping.
But hold on, there are other factors to think about too, like costs and accessibility. The Exness Standard Account might catch your attention because it offers lower deposit requirements and cheaper spreads. And let's be real, as a scalper, every penny counts. Tighter spreads and lower costs mean you can keep more of your hard-earned profits.
Now, accessibility is something you shouldn't overlook. Both Exness and IC Markets are well-established brokers, but it's worth checking if they have the tools and features that suit your scalping strategy. Look for a user-friendly trading platform, reliable order execution, and access to real-time market data. These things can make your life easier and help you stay on top of your game.
In the end, it's about finding the right balance. If fast execution speeds are your top priority, IC Markets could be the way to go. But if you're also conscious about managing costs and want a more beginner-friendly option, the Exness Standard Account might just fit the bill.
Hagai
Jun 15 2023
Is IC Markets, an Australia-based broker, considered safe for trading? Can you provide more information on the safety measures and regulatory framework that IC Markets follows to protect its clients' funds and ensure fair trading practices? How does IC Markets compare to other brokers in terms of safety and reliability?
Additionally, I would like to understand the main differences between IC Markets' Raw Spread account and Standard account, not only in terms of trading cost structure but also regarding the level of security they offer. Do both account types provide the same level of protection for clients' funds and personal information? Are there any additional security measures implemented specifically for the Raw Spread account due to its suitability for scalpers and EA users?
Jordan
Jun 17 2023
@Hagai: When it comes to trading, IC Markets, an Australia-based broker, is considered pretty safe. They've got their regulatory game on point with ASIC keeping a close eye on them. ASIC sets some strict rules to make sure they handle client funds properly and manage risks responsibly.
IC Markets takes client fund safety seriously. They keep your moolah in separate accounts with reliable banks. That way, even if something funky happens to IC Markets, your hard-earned cash is protected. Now, let's talk about their account types. The Raw Spread account has lower spreads but charges a commission, while the Standard account has wider spreads without an extra commission.
Speaking of security, IC Markets has got your back. They've got encryption, firewalls, and all sorts of fancy tech stuff in place to keep your personal info safe from prying eyes. It's always smart to read their terms and conditions, though, to know exactly what you're getting into. (read : IC Markets Review: Is IC Markets A Good Broker For You?)
Bukayo
Jul 7 2023
Which type of account, Standard or Raw Spread, would be more suitable for beginner traders considering the trading cost structure? As mentioned in the article, IC Markets is known for its Raw Spread account, which seems to be preferred by many traders. However, for beginners who may not be familiar with the nuances of trading costs, understanding the differences between these two account types becomes crucial. So, could you shed some light on the specific trading cost structures of the Standard and Raw Spread accounts? Which account would be more beginner-friendly in terms of transparency, simplicity, and overall cost-effectiveness?
Brian Joshua
Jul 8 2023
@Bukayo:
When it comes to choosing between the Standard and Raw Spread accounts at IC Markets, beginners may benefit from understanding the trading cost structures associated with each account. The Standard account typically features a wider spread, but with no commission fees. On the other hand, the Raw Spread account offers tighter spreads, but charges a commission per trade.
In my opinion, for beginners seeking transparency and simplicity, the Standard account may be more suitable. With no commission fees, traders can easily calculate their trading costs based on the spread alone. This account type provides a straightforward cost structure that is easier to comprehend, especially for those new to trading.
Maggie
Aug 25 2023
Hello everyone! It seems like Exness is a strong contender, particularly when it comes to their trading platform. While their instrument selection is relatively small, with around 200 options compared to IC Markets' impressive 2,500 instruments, Exness does offer two standard account options for beginners: the Standard and Standard Cent accounts, both with a reasonably low minimum deposit of just $10. However, I'm facing a bit of a dilemma when it comes to choosing a trading platform because both MetaTrader 4 and MetaTrader 5 have their own unique qualities.
I find myself in a quandary as to which platform to use. In my view, both platforms have their merits. MetaTrader 4 boasts a user-friendly and straightforward interface, whereas MetaTrader 5 offers a wider array of robust tools, making it more suitable for seasoned traders. Even though I wouldn't classify myself as a novice trader, I'm still grappling with the decision between these two platforms. Not only do they offer similar instruments, but the number of account types isn't significantly different either. Additionally, market execution is swift and efficient, depending on the type of account. This brings me to my question: Is it feasible to open accounts on both platforms simultaneously (MT4 and MT5)? Making this choice has proven to be quite challenging for me.
Ganendra
Aug 27 2023
Actually, I used to face a similar dilemma, where it was challenging to decide which platform to choose. Both platforms come with their own set of pros and cons. MetaTrader 5 stands as the advanced 5th generation trading platform developed by the renowned trading software company, MetaQuotes Software Corp. On the other hand, MetaTrader 4 is the upgraded version of MetaTrader 4, offering additional features and tools, including new order types and customizable time frames.
However, it's essential to note that if you open a MetaTrader 4 account, you won't be able to use MetaTrader 5 with your MT4 credentials, and vice versa. If you desire accounts for both MT4 and MT5, you'll need to create separate trading accounts for each.
So, when deciding which account suits you best, the key is to consider various factors if you aim to profit from trading. Don't solely focus on the advantages of each platform; instead, tailor your choice to your specific needs. Nonetheless, it's worth mentioning that many traders still opt for the MT4 platform. One reason for this preference is that MT4 is user-friendly and accommodates a wide array of technical indicators programmed in the MQL4 language.
A friend of mine mentioned that he is a trader at Exness, a broker known for its swift and hassle-free market execution. Additionally, their deposit and withdrawal processes are notably faster when compared to other brokers. Consequently, my curiosity has piqued regarding Exness, and I'm also keen to explore the features and services offered on the MT4 platform.
Read more: MT4 or MT5, Which Platform Should You Choose?
Hiva
Oct 24 2023
According to the article, IC Markets is renowned for its popularity among traders, particularly for its Raw Spread accounts in contrast to Standard accounts, primarily due to the variance in their cost structures. I've also come across the concept of 'zero spread' offered by some other brokers, which appears similar to IC Markets' Raw Spread. Nevertheless, there's a contention among traders that 'zero spread' and 'raw spread' are not identical. Could you provide insights into the specific features that differentiate a 'zero spread' account from a 'raw spread' account and how these distinctions influence trading costs and execution, ultimately making the latter more favored by traders looking to make the most of IC Markets' offerings?
Lidya
Oct 27 2023
@Hiva: The difference between a 'zero spread' account and a 'raw spread' account is important for traders seeking to understand and optimize their trading costs. A 'zero spread' account typically implies that there are absolutely no spreads on trades, meaning the buy and sell prices are identical. In contrast, a 'raw spread' account with IC Markets means that you're getting access to the real, raw interbank spreads with no markup, and this can vary depending on market conditions.
The key distinction here is that while 'zero spread' accounts offer fixed spreads at zero, 'raw spread' accounts provide variable spreads that reflect the true market conditions. In volatile markets, 'raw spreads' can be extremely competitive and narrower than fixed 'zero spreads'. This variation in spreads in 'raw spread' accounts can benefit traders when market conditions are favorable. It means you might experience lower trading costs with 'raw spread' accounts during times of tight spreads, which often makes them more favored among traders looking to maximize IC Markets' offerings.
Alex
Feb 25 2024
The article mentions that IC Markets is renowned for its Raw Spread account rather than its Standard account, with more traders opting for the former. Specifically, the Raw Spread account is highlighted for its offering of real market spreads starting at 0.0 pips, albeit with a commission fee of $7 per lot per round turn. This setup makes it particularly attractive for scalpers and users of Expert Advisors (EAs). However, upon further consideration, it becomes apparent that the commission fee charged for the Raw Spread account is comparatively high compared to the absence of such fees in the Standard account. This prompts the question: why would scalpers and other traders prefer the Raw Spread account despite the seemingly high commission fees?
Ospina
Feb 27 2024
In my opinion, Scalpers and other traders might dig the Raw Spread account despite its higher commission fees for a few reasons. First off, it dishes out real market spreads starting at a cool 0.0 pips, which can mean tighter spreads and better prices, especially for those making lots of quick trades like scalping. Even though there's a commission to pay, some traders find that they still come out ahead overall because of those tighter spreads. Plus, for folks who rely on scalping or use Expert Advisors (EAs), speed matters big time when it comes to executing trades. The Raw Spread account's focus on fast order execution and direct access to market liquidity can make it worth the commission bucks. So, despite having to shell out for commissions, the perks of the Raw Spread account—like tighter spreads and slick trade execution—often make it the top choice for active traders.