Account Types

FXSALT Offers 6 Account Types:

1. Demo Accounts

Demo accounts are designed to accommodate traders who are new to the Forex market and wish to learn how to trade. Demo accounts are effective because they help to introduce the Forex market to new clients without exposing them to risk while giving them invaluable experience. Demo accounts are free and can be opened with a bank of 200 - 100 000 000 units.

2. Micro Accounts

Micro accounts are designed to accommodate traders who are new to the Forex market and service clients who are trading relatively small volumes. Demo Accounts will never be able to simulate the psychology behind risk and the fear of making a loss; this is where Micro accounts are effective because they help to introduce the Forex market to novice clients without exposing them to excessive risks because trade size is limited.

3. Classic Accounts

Classic accounts are designed to accommodate experienced traders as well as professional traders, as there is no maximum trade size, no maximum open position and a minimum trade size of 0.10 lots.

4. Joint Accounts

Joint accounts are designed to allow friends or family members to open a single trading account. This allows both parties to fund and withdraw funds from a single account without compromising the anti-money laundering laws.

5. Corporate Accounts

Specifically for companies, investment companies, corporate entities and brokers that wish to expand their portfolio into the Forex market.

6. Institutional Trader Accounts

This account type is for large trading clients that require liquidity with lots of depth, execution that does not chase spread, and liquidity that can absorb trades of up to 800 million without the need to aggregate or split trades across multiple banks. These are normally hedge fund managers, large investment companies and asset management entities.