When trading on 24k Markets, understanding the available account types is crucial. Traders have the option to open the account types below, each tailored to specific preferences and trading styles. Below, we’ll delve into the definitions, tradable instruments, and essential details for each account type offered:
- TradeLocker ECN
- Definition: The TradeLocker ECN account operates on an Electronic Communication Network (ECN) model, providing direct access to liquidity providers. It’s designed for traders seeking fast execution and competitive pricing. This would be considered the “standard” account type.
- Tradable Instruments: All major currency pairs (Forex), commodities, indices, and select cryptocurrencies.
- TradeLocker Demo:
- Similar to the standard ECN account, but does not trade on real servers, with real funds, meaning you can experiment with your trading strategy 100 risk-free.
Frequently Asked Questions:
Can I open multiple Live accounts?
Yes. You can open an unlimited amount.
Can I convert one account type into another?
No, you will need to create a new Live Account.
Are there specific deposit requirements for these account types?
No, however, micro accounts will require less equity to open certain positions, while other account types may require more available equity, which means you will need to deposit more funds into that account. The deposit requirements are only affected by the currency you choose when making a deposit.