So if im new, and plan to trade with under $10k, what type of account do I need to create? Fixed spread? Floating?

asked by Phan T. on 5/27/24

1 Answer
Thumbnail of user jaist1

OFC it depends on your strategy. Most people trade on floating, since it can be better on average, cheaper to open/close, cheaper to scalp. However, if you plan to trade during massive events, trade the news as they say, I would suggest picking fixed. Same with if you trade during the more volatile Night trading session.
IronFX has an awesome account type called Live Zero Fixed Spread, which is always fixed to 0. Instead you pay for opening/closing trades. The fee is constant, and in your case, if you trade even with 1/50th of the deposit, it would be better imo.
Just care about the Midnight, and try to not leave your trades on on the weekends. They change Fixed Spread to Live Spread during swaps, so. Fixed Spread is the best for you for INTRADAY/INTRANIGHT ONLY.

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