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 or experienced. It is available in EUR and GBP and offers tight and variable spreads without commissions and a minimum deposit.
The Standard account is suitable for a wide range of traders, both new and experienced. It offers you the maximum allowed 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 a variety of FX pairs from majors to exotics. It is a straight through processing (STP) account with direct access to FX liquidity from various providers.
The Synthetic Indices account allows you to trade CFDs on Synthetic Indices – our proprietary synthetic assets that mimic real-world market volatility and are available for trading 24/7.
The MAM Advanced account can be assigned to a money manager who will trade on your behalf with more competitive spreads than the regular Advanced account. Other account specifications remain the same.
MAM Synthetic Indices*
The MAM Synthetic Indices account can be assigned to a money manager who will trade on your behalf with the same specifications as the regular Synthetic Indices account.
Note: At bank rollover, liquidity in the Forex market is reduced and may increase the spread and processing time for client orders. This happens around 21:00 GMT during daylight saving time, and 22:00 GMT during non-daylight saving time.
2. 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 variable spread means that the spread is constantly changing, depending on the market conditions. A fixed spread means that the spread is not affected by market conditions but it is subject to alteration at the Company's absolute discretion.
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.
5. 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.
6. 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”).