With forex account types explained, start by separating the broker’s account name from the actual contract, costs and trading conditions. A label such as standard, raw or micro is not enough to decide what an account permits or what it will cost. Read the specific entity’s current documents and platform specifications.
This is educational information, not financial, investment or legal advice. Forex trading can cause substantial losses. No account type is recommended for your finances or described as safe. The provider examples illustrate documented differences, not a ranking or a comparison based on personal product tests.
Start with the legal entity and product
Identify the company named in the proposed agreement, the product offered and your client classification. Different entities using the same trading brand may offer different arrangements. Match the account to the relevant official record before relying on a licence advertised for another affiliate.
Keep these questions separate from the platform name. A broker may use a familiar application, but that does not establish the account entity’s permissions or the handling of your money. Read the agreement and risk disclosure as well as the marketing comparison table.
Standard accounts: verify the specification
If a broker calls an account standard, check its minimum trade size, sizing increment, supported products and charges. Do not assume the account name requires every order to be a standard lot or that every broker defines the label identically. The instrument specification should explain how size is represented.
Write the actual unit beside a quoted size: units, lots or another contract measure. Confirm what one displayed quantity means for the chosen instrument. A familiar number without its definition can lead to a misleading comparison, particularly when two platforms use different sizing conventions.
Spread-based and commission-based arrangements
Read how the provider charges for the proposed product. OANDA’s US pricing page describes its spread-only pricing arrangement. IC Markets EU’s trading-cost page documents variable spreads and commissions associated with account and platform choices. These are specific examples, not proof that all standard or raw accounts work the same way.
Compare the complete current cost schedule instead of selecting from the lowest advertised spread. Check whether a displayed spread is a minimum, an example or another measure. Identify any separate commission and the unit used to charge it. Do not assume zero spread means a trade has no cost.
Per-side and complete-trade charges
Find whether a commission is stated for one side or a complete opening-and-closing transaction. Check the account currency and any conversion instructions. A fee expressed per lot and one expressed by traded value need their definitions before they can be compared. Use current provider examples without importing another account’s rate.
Look for holding, financing or other relevant charges separately. Ask how they apply to the instrument and duration involved. Do not call an account cheapest from only one cost component or assume a hypothetical example predicts the actual cost of every future trade.
ECN and STP labels
If an offer uses ECN or STP terminology, read its execution policy and agreement. Ask who is the counterparty and how the stated process applies to your order. The label alone should not be expanded into a guarantee of direct interbank access, faster fills, no slippage or absence of conflicts.
Keep execution claims separate from pricing. An advertised raw spread does not by itself establish the legal execution arrangement. Record any relevant conditions for rejected or modified orders. If the policy does not resolve a question, ask for a concrete explanation rather than inferring it from an acronym.
Micro and mini labels
A smaller size option needs the same specification check as any other account. Verify the minimum trade quantity and increments for the exact product. Do not assume a micro label establishes a low deposit requirement, a particular maximum exposure or suitability for a beginner.
Smaller available sizes do not remove trading risk. Read margin and close-out terms and understand the actual exposure associated with the quantity displayed. Avoid treating a low entry requirement as a recommended budget or a reason to increase leverage. Suitability for personal circumstances remains a separate question.
Swap-free and other specialized arrangements
If an account is described as swap-free, inspect the current conditions, eligibility and alternative charges. Ask which instruments and holding periods the arrangement covers. Do not infer that every cost disappears or that the account automatically meets a personal religious requirement.
For a religious-compliance question, obtain appropriate independent guidance about the actual agreement. A marketing name should not be presented as certification. Keep the provider’s financial terms and the user’s own compliance assessment distinct.
Client-money handling is a separate question
A claim about holding money separately is different from an account’s pricing label. Locate the applicable agreement and official guidance. Check what entity receives funds and what the stated arrangement covers. Do not describe it as guaranteed full repayment if the provider fails.
Investigate any complaint or compensation route separately. Verify the relevant scope and eligibility rather than assuming a label such as segregated supplies every protection. A pricing comparison cannot replace these account and jurisdiction questions.
Managed, allocation and copy arrangements
If another person or system will make decisions or allocate transactions, read the proposed authority and fee arrangements carefully. Identify who can act, what they can do and how that authority can end. Do not assume a managed or allocation label establishes professional competence or suitable oversight.
Check relevant official status and permissions for the actual arrangement. Ask how losses, charges and withdrawals are handled, and preserve unanswered questions. A past performance figure or a promotional profile does not guarantee a return. Delegating decisions does not remove financial risk.
Demo accounts are a different environment
A demo can provide a simulated place to inspect platform controls, but its terms and results need limits. IG documents differences between demo and live accounts. Check the corresponding provider guidance for the account you are considering, rather than assuming every simulated fill or charge matches a live transaction.
Use a demo to locate settings, read instrument information and understand the interface. Keep observations labelled simulated. A favourable result does not prove a strategy will work with real money, that an account is legitimate or that trading is suitable for you.
Build a comparison record
Use a row for each candidate account. Record the entity, product, client classification, size definition, margin terms, complete charges, supported platform and funding or withdrawal conditions. Attach current official and provider sources and note the date reviewed. Mark unknown fields unresolved instead of guessing from a label.
Compare the same product and assumptions where possible. If the arrangements differ, state the difference rather than forcing them into a single ranking. A table with clear limits is more useful than declaring one type ideal for all beginners or all active traders.
Before changing account type
Read the provider’s current process and implications for an existing account. Check whether the entity, agreement, pricing, platform or open positions are affected. Do not assume a switch is available or that it preserves every setting and protection unchanged.
Keep the original terms and new proposal identifiable, and resolve discrepancies before acting. The useful outcome of account research is understanding the arrangement and its limits, not predicting improved profit from a different label.
FAQ
Is raw always cheaper than standard?
No label alone answers that. Compare the relevant spread, commission and other charges using the exact product and provider’s current definitions.
Does micro mean safe for beginners?
No. Verify size and margin terms and read the risk disclosure. A smaller available quantity does not establish personal suitability or remove loss risk.
Does ECN guarantee better execution?
Do not infer that from an acronym. Read the actual execution policy and account agreement, including conditions and limits.
Can I rely on a demo result?
Keep it labelled simulated and read demo-versus-live differences. It does not prove future returns, a broker’s legitimacy or readiness to use real money.
