Our partner, XM, lets you access a free demo account to apply your knowledge.
No hidden costs, no tricks.
The broker offers 7 different account types to its clients and each comes with unique features. In addition, demo and swap-free accounts, also known as Islamic accounts, are also available. Demo trading is very similar to live trading. The only difference is that traders use demo accounts for practice and trading is conducted using fake money.
When transitioning from a demo account to live trading, it’s critical to select the proper trading account. You can see the main features of the live accounts in the comparison table below.
| Account name | Standard | Cent | Pro | ECN | Crypto | Zero spread | Micro |
|---|---|---|---|---|---|---|---|
| Description | The ideal choice for traders of all levels seeking optimal conditions. | A low-risk account for trading small amounts and testing strategies. | Ultimate account for large orders and algo trading. | Professionals’ choice with the best conditions for large orders. | For 24/7 trading on volatile digital currencies. | Easier order calculations for precise predictions. | Stable market conditions for cautious traders. |
| Recommended trading skills level to use this account | Beginner Middle Expert | Beginner Middle | Expert | Expert | Middle | Beginner | Beginner |
| Leverage | up to 1:3000 | up to 1:1000 | up to 1:2000 | up to 1:500 | up to 1:5 | up to 1:3000 | up to 1:3000 |
| Execution speed | from 0.2 sec, STP | from 0.2 sec, STP | from 0.2 sec, STP | ECN | from 0.2 sec, STP | from 0.2 sec, STP | from 0.2 sec, STP |
| Spread | floating from 0.5 pips | floating from 1 pip | floating from 0.3 pips | floating from -1 pip | fixed from 3 pips | fixed 0 pips | Fixed spread from 3 pips |
| Commission | $0 | $0 | $0 | $6/lot | 0.05% for opening and 0.05% for closing positions | from $20/lot | $0 |
| Spreads on Major instruments | EURUSD 0.9 pips USDJPY 1.1 pips XAUUSD 2 pips | EURUSD 0.9 pips USDJPY 1.1 pips XAUUSD 2 pips | EURUSD 0.6 pips USDJPY 0.7 pips XAUUSD 1.5 pips | EURUSD 0 pips USDJPY 0.2 pips XAUUSD 1.5 pips | N/A | EURUSD 0 pips USDJPY 0 pips XAUUSD 0 pips | EURUSD 3 pips USDJPY 3 pips XAUUSD 4 pips |
| Maximum open positions and pending orders | 500 | 500 | Unlimited | Unlimited | 500 | 500 | 500 |
| Total number of lots one can have open at a time | from 0.01 to 500 lots (with 0.01 step) | from 0.01 to 1 000 cent lots (with 0.01 step) | from 0.01 to 500 lots (with 0.01 step) | from 0.1 to 500 lots (with 0.1 step) | from 0.01 to 500 lots (with 0.01 step) | from 0.01 to 500 lots (with 0.01 step) | from 0.01 to 500 lots (with 0.01 step) |
| Minimum deposit | from $1 | from $1 | from $1000 | from $1 | from $1 | from $1 | from $1 |
| Margin call / Stop out | 40% / 20% | 40% / 20% | 30% / 10% | 40% / 20% | 40% / 20% | 40% / 20% | 40% / 20% |
| Financial assets and contracts traded on the markets. | 36 Forex pairs, 8 metals, 3 energies, 11 indices, 127 stocks, 5 crypto pairs | 36 Forex pairs, 8 metals, 3 energies, 11 indices, 127 stocks, 5 crypto pairs | 36 Forex pairs, 8 metals, 3 energies, 11 indices, 127 stocks, 5 crypto pairs | 28 Forex pairs | 30 coins, 48 coin-fiat, 25 coin-coin, 10 coin-metal | 31 Forex pair, 2 metals | 31 Forex pair, 2 metals |
| Trading platforms | MetaTrader 4, MetaTrader 5, FBS Trader | MetaTrader 4, MetaTrader 5 | MetaTrader 4, MetaTrader 5 | MetaTrader 4 | MetaTrader 5, FBS Trader | MetaTrader 4 | MetaTrader 4 |
Islamic (swap-free) accounts
Swap-free accounts are created to enable traders of the Muslim faith to trade without going against their beliefs. Under Sharia Law, Muslims are prohibited from earning or paying interest on their investments. Islamic account holders do not pay any interest, instead, they are charged with larger administrative and trading fees. On swap-free accounts retail traders are offered a maximum leverage of 30:1. For professional traders, the available leverage goes up to 500:1. Spreads start from 1 pip on EUR/USD.
It’s important to note that the swap-free account version is only available for Cent, Standard, Demo Cent, and Demo Standard accounts. The available trading platforms are MetaTrader 4, MetaTrader 5, and FBS Trader. In order to open an Islamic account, first you need to open a regular Cent or Standard account, contact the live customer service of the broker and request swap-free trading. Live customer support is available 24/7 via chat, over the phone, or via email.
Standard account
A Standard account is best suited for traders from all experience levels. However, it’s important to note that if you are a beginner trader, choosing a high amount of leverage can damage your trading balance quickly. Available leverage on this account goes up to 3000:1, which is extremely high. Novice traders often use leverage to increase their positions dramatically and end up blowing up their accounts when the market moves against their predictions. There are no commissions on this account and trading fees are included in spreads. Spreads on EUR/USD start from 0.9 pips, which is average compared to competitors.
Cent account
The Cent account is aimed at beginners and intermediate traders. The maximum available leverage is 1000:1 and trading fees are very similar to the Standard account. This account type has many things in common with the Standard account.
Pro account
As the name suggests, the Pro account is best suited for more seasoned traders. The account enables algorithmic trading using Expert Advisors (EAs) on MetaTrader 4 (MT4) and MetaTrader 5 (MT5). The minimum initial deposit requirement for all FBS accounts except for the Pro account is 1 USD. In order for traders to be able to open this account type, they need to deposit 1,000 USD.
ECN account
ECN stands for Electronic Communication Network and describes the trade execution format. In ECN trading buyers and sellers are matched automatically, without the participation of middlemen or dealing desks, which creates a more transparent environment for traders. The ECN account comes with low trading fees as commissions per traded lot round turn are 6 USD, and comes with fast order execution.
Crypto account
This account type is dedicated to crypto derivatives trading. While currency markets are open 24/5, cryptocurrencies can be traded 24/7. The max available leverage is 5:1, which may seem low compared to other trading accounts, but it’s not. This account is offering only cryptos and crypto derivatives are highly volatile. The broker offers 30 coins that can be used for investing in crypto, however, no leverage can be applied. In addition, there are 48 coins paired with regular currencies such as USD, EUR, etc. 25 coin-coins, and 10 coin-metal pairs.
Zero spread
Zero spread account is aimed at beginners as the available platform is MT4, and there are only 31 currency pairs and 2 metals available for trading. Trading fees are fixed, as there are no spreads on this account. Instead, commissions are increased to 20 USD per traded lot round turn. Fixed spreads are ideal for traders that cannot trade during active trading sessions.
Micro account
Micro accounts charge 0 commissions. Instead, spreads on EUR/USD start from 3 pips. This account type is ideal for traders that are transitioning from demo accounts. Micro accounts are best for testing strategies live while only putting a small amount of trading capital at risk.
