Types of MetaTrader 5 accounts
Binary.com offers a variety of account types to cater to the diverse needs of traders everywhere, whether you are an experienced trader or just starting out. Each account has been tailored to provide you with a unique opportunity to trade financial instruments.
Best of all, there is no minimum deposit requirement.
The Standard account is suitable for a wide range of traders, both new and experienced. It gives you mid-range leverage and variable spreads that give you a great deal of flexibility for whatever position you wish to take in the market.
The Advanced account provides you with tight spreads, higher ticket size and offers more products. Start trading on more forex pairs, CFD indices, futures and cryptocurrencies.
The Volatility Indices account allows you to trade CFDs on Volatility Indices – our proprietary synthetic assets that mimic real-world market volatility and are available for trading 24/7.
|Maximum leverage2||Up to 1:500||Up to 1:100||Up to 1:500|
|Spread4||Variable from 1.2 pips||Variable from 0.9 pips||Fixed|
|Stop out level8||75%||75%||50%|
|Number of assets9||60+||80+||8|
|Maximum ticket size10||10 lots||50 lots||30 lots|
|Minimum ticket size11||0.01 lots||0.01 lots||0.01 lots|
|Step size12||0.01 lots||0.01 lots||0.01 lots|
3. Order execution
Order execution typically comes in two varieties: market execution and instant execution. With market execution, you will place an order at the broker’s price. You agree on the price in advance. There are no requotes with market execution.
What about instant execution? In this case, your order is placed at the price that’s available at that time. Requotes are possible if the price fluctuates a great deal before the order execution is complete.
The spread is the difference between the buy price and sell price. A fixed spread means that the spread will remain as it is no matter the market condition except in rare cases of extreme market volatility. A variable spread means that the spread is constantly changing, depending on the market condition.
Most brokers typically charge a commission for each trade that you place. Binary.com currently charges no commission across all account types, except for cryptocurrencies.
6. Minimum deposit
Most brokers require a minimum deposit. Binary.com doesn't require any minimum deposit.
7. Margin call
When the remaining funds in your account is unable to cover the leverage or margin requirement, your account will be placed under margin call. To prevent a margin call escalating into a stop out level, you can deposit additional funds into your account or close any open positions.
8. Stop out level
If your account is placed under margin call for an extended period of time, it will reach the stop out level where it is unable to sustain an open position. This will lead to your pending orders being cancelled and your open positions being forcibly closed (also known as “forced liquidation”).
12. Step size
Step size is the minimum allowable increment applied to all order types. It is the volume from which the increase of the position is based. You can only trade in the minimum ticket size or its multiples.