Which trading account is suitable for those who have started trading recently?

asked by Gustavo A. on 8/16/24

2 Answers
Thumbnail of user andresu19

There are not that many account types here.

Of course, I would recommend Cent account. With using 1-200,1-300 leverage max, not going all the way to the 1-1000.

One problem with it is, you can't practice on Demo account for it. Demo accounts exist only for ECN and Classic. The difference between Cent and Classic is not huge, but for a beginner, it's still confusing, the numbers can get the better of you and you will trade with old lot values for example. Will take a few hours to adjust, and those could be scary hours.

Fortunately, Fxcess allows openign multiple accounts, both as Demo and as real ones. So personally if I didn't know how to trade, I would open both Cent and Classic, and trade with small amounts in each one, to see which one feels better to me.

Helpful  (0)
Thumbnail of user mateog34

Well, nobody is able to tell you which account is suitable for those who have started trading recently because everyone has different preferences starting from spreads, commissions, strategies and so on.
However, if I were a complete beginner trader then I would choose a classic trading account with usual spreads and zero commissions because with high probability newcomers will open a lot of deals to gain experience and zero commissions is an ideal choice.

Helpful  (0)

Add your answer

Ask a question

Get answers from the FXCess staff and other customers.

Have a question about
FXCess?
Post Review