Which Account is best for you? Let us give you a hand in choosing the right account type for your trading needs.
|Standard account||Raw account|
|Typical EUR / USD Spread||1.5 - 1.8 pips||0.5 - 1.0 pips|
|Commission||$0||$3.5 per standard lot traded|
|Min. / Max. Trade Size||0.01 lots / 100 lots||0.01 lots / 100 lots|
|Margin Call Level||80%||80%|
|Stop Out Level||50%||50%|
|Min. Initial Deposit||$100 AUD or equivalent||$100 AUD or equivalent|
|Account Base Currencies||AUD, USD, EUR, GBP, NZD, CAD, SGD||AUD, USD, EUR, GBP, NZD, CAD, SGD|
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Essentially, the tighter the spread, the lower the cost of trading. The wider the spread, the higher it costs.
For example, let’s say EURUSD is quoted with a buy price of 1.0984 and a sell price of 1.0983. The spread can be calculated by subtracting 1.0983 from 1.0984 – giving a total spread of 0.0001 or 1 pip.
At Place a Trade, prices are quoted up to 5 decimal points.
A spread is how brokers make money from each trade. It’s essentially a commission that replaces brokerage fees and charges. In forex trading, a spread is the difference between the buy price (ask) and the sell price (bid) of a security or forex pair. The difference is usually represented in pips. When trading a position, a spread is the gap or the difference between the short position and the long position.