A forex account is used to trade foreign currencies. Opening a forex trading account is a quite simple process these days given the growth of online forex trading. It requires some paperwork and few security steps, such as identity verification, and all can be done online. Typically, youopen a forex account, deposit money and then buy and sell currency pairs or other trading tools.
What is ECN account？
The ECN account (Electronic Communications Network), is one of the forex account types commonly provided direct access to the market. ECN is an electronic system of order-matching execution by providing accessibility of orders being entered. ECN account is one of the most popular account types for forex traders due to the price transparency and ability to directly access the market. Typically, forex brokers provide this type of account as additional services to traditional accounts and charge a premium as commission fees per lot with a minimum deposit limit and lower leverage.
AximTrade Accounts
AximTrade offers a variety of options when it comes to forex accounts. Traders can choose the best account type based on their trading strategy, experience, and capital designed for investment. Choices include Standard, Cent, or ECN trading account. All AximTrade accounts offer negative balance protection with a low spread from zero to 1 pip on all majors. Traders can also enjoy a variety offorex bonuson all account types with a minimum deposit starting from $1. Any trader can hold up to 14 active trading accounts. You are allowed up to 7 Standard Accounts, 2 Cent accounts, and 5 ECN accounts per Active Member Area.
Features of Trading Accounts from AximTrade:
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Variety of account types including Standard, Cent, ECN, and Islamic
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Excellent customer service reachable through email, live chat, and more
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Tight spreads and low minimum balances reduce financial commitment
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Fast order execution with execution speed at 0.004s
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Minimum deposit of $1 and no commission
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Instant deposit and withdrawal, wide variety of payment methods
ECN Forex Account
AximTrade provides one of the best ECN accounts in the forex market. The ECN account provides one of the lowest commissions per lot which is $3. The minimum deposit for ECN accounts by AximTrade is $50 and this is highly competitive as the majority of ECN requirements can be relatively very high for regular forex traders. The minimum trade volume is 0.01 lots while the maximum tradable lot is 50 lots. The average spread on major pairs is as low as 0 pips. Traders can open up to 200 orders at a time. This account offers flexible leverage up to 1:1000.
Find out more about benefits of ECN Account on AximDaily and register with AximTrade to take your trading to the next level.
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