Forex.com offers two account types. One account is a Professional account and the other one is a Retail account. However, the trader has to fulfill some requirements before opening a Pro account.
Forex.com Professional Account
Requirements for this account are:
- Making over 10 transactions of significant size in the past four quarters
- Financial portfolio with cash deposits exceeding €500.000
- At least one year of professional experience in the financial sector that required trading leverage products
Traders must fulfill at least two out of these three requirements to be considered for a professional account. However, this account type offers:
- Margin rates from 0.25%
- Cash rebates
- Credit facility
- Broker-assisted dealing
- A dedicated Market Strategist
Forex.com Retail Account
This account type could also be called the “Classic” account, as this is the account type that is available for all traders. You get access to Forex.com proprietary platform and MetaTrader platform. Also, you can expect margin rates from 3.33%. The minimum deposit is $50.
Forex.com Demo Account
Forex.com also offers a free demo account. The demo account lasts for 30 days and contains only virtual money. This means that any money you make while trading a demo is only virtual, just like coins in online games. You can open only one demo account for every type of trading platform per one email address. The demo account cannot be renewed or used after the expiration.
However, a demo account is always a neat feature, especially for traders who need to figure out how to use the platform because they never encountered it before. Also, it gives you a chance to test your strategies before placing a trade with real money. Traders who use demo know what to expect when they start real trading.
Traders can take a look at live and typical spreads on the Forex.com website.
Here are some typical spreads
- AUD/USD – 1.8
- EUR/GBP – 1.5
- EUR/USD – 1.4
- GBP/USD – 2
- Bitcoin – 35
- Bitcoin Cash – 2
- Ethereum – 1.2
- Ripple – 60
Forex.com Crypto Trading
Forex.com supports cryptocurrency trading. This broker allows traders to go long or short from 10 p a point. You can trade crypto CFDs, without ever owning a cryptocurrency which makes crypto trading accessible to a larger number of traders. There are several cryptocurrencies available with Forex.com:
- Bitcoin Cash