Forex Account Types Explained: Standard, ECN, Cent, Islamic
Forex account types explained (Standard, Raw/ECN, Cent, Pro, swap-free, demo), who each suits, with real examples from five brokers.
Reviewed by Hà Ngọc Lộc· Senior SEO Editor
Reviewed using our forex & CFD broker review methodology
Most forex brokers sell the same few account types under different names. Standard has a wider spread and no commission. Raw/ECN has a near-zero spread plus a commission per lot. Cent shows your balance in cents for tiny trade sizes. Pro has a tighter spread with no commission and a higher deposit. Islamic is swap-free. The best one depends on how often you trade. Raw usually costs less once you trade more than a few lots a month.
Account Types at a Glance
| Type | Pricing | Typical minimum | Good for | Examples |
|---|---|---|---|---|
| Standard | Spread only (≈1–1.5 pips) | $10–$100 | Beginners, low frequency | Vantage Standard STP, Exness Standard, HFM Premium |
| Raw / ECN | ~0.0 spread + $6–$7/lot | $50–$200 | Active traders, scalpers, EAs | Vantage Raw ECN, JustMarkets Raw Spread, HFM Zero |
| Cent | Spread only, cent units | $0–$10 | Testing strategies with tiny risk | Exness Standard Cent, HFM Cent, JustMarkets Cent |
| Pro | Tighter spread, no commission | $200+ | Mid-volume traders | Exness Pro, JustMarkets Pro, HFM Pro |
| Islamic | No swap (admin fee may apply) | Same as base | Traders who avoid interest | Most brokers on request |
| Demo | Virtual money | $0 | Practice | All brokers |
How to Choose
- Fewer than 5 lots a month? Standard is simple.
- More than that? Compare raw all-in cost (how to compare spreads).
- Testing an EA with real money? Use a cent account.
- Check the entity. The same account type can come with different leverage under different licences.
Monthly Cost by Account Type (10 lots EURUSD)
| Account | Cost per lot | 10 lots |
|---|---|---|
| Standard (1.2 pips) | $12 | $120 |
| Pro (0.6 pips, no commission) | $6 | $60 |
| Raw (0.1 + $6) | $7 | $70 |
| Cent (cent lots) | Same pips, tiny size | ~$1.20 at 0.1 lot-equivalent |
Related: Vantage account types · Exness account types · HFM account types · Best cent account brokers · ECN vs STP
Further reading: FCA guidance on CFDs and leveraged products · FCA ScamSmart.
Practical Cost & Risk Breakdown for Forex Account Types Explained
Evaluating Forex Account Types Explained requires looking past headline figures to measure usable drawdown capital and round-turn execution costs on Trading Evaluation & Execution. When you factor in $49 to $540 (typical 1-Step/2-Step evaluation or $50 broker min deposit) alongside 8%–10% Phase 1 / 5% Phase 2 (or 0.0 pip Raw ECN pricing), your true cost per dollar of available risk depends on 4%–5% daily / 8%–10% max static or trailing drawdown. For example, if a $100,000 account carries a 5% daily loss cap ($5,000) and a 10% maximum drawdown ($10,000), risking 0.5% ($500) per trade gives you a 10-trade buffer against daily liquidation and a 20-trade buffer overall.
Execution friction on MT4, MT5, cTrader, TradingView, NinjaTrader also directly affects net expectancy for forex account types explained. Raw ECN or proprietary liquidity feeds typically charge $3 to $7 per standard lot round-turn on major forex pairs, plus variable bid-ask spreads that widen during the New York/London rollover window (5:00 PM EST). Scalpers and intraday systematic traders should log average slippage across at least 20 trades on Trading Evaluation & Execution to confirm that commission plus spread remains below 15% of average target distance.
Pre-Trade Verification Checklist for Forex Account Types Explained
Before committing capital or purchasing an evaluation tied to Forex Account Types Explained (fact-checked 2026-10-01), complete these four verification steps:
- Entity & Jurisdiction Check: Confirm the exact legal entity listed on your Trading Evaluation & Execution account dashboard (Regulated Tier-1/Tier-2 broker entities or simulated prop accounts) and review its dispute resolution terms.
- Drawdown Reset Mechanics: Check whether Trading Evaluation & Execution calculates daily loss limits from prior-day closed balance, prior-day equity, or the higher of the two at server rollover.
- News & Holding Restrictions: Verify whether forex account types explained permits holding positions over the weekend or executing market/pending orders within 2 to 5 minutes of Tier-1 economic news releases.
- Payout & Withdrawal Documentation: Ensure your government ID, proof of address, and payment method match your registered legal name to prevent compliance delays under 80%–90% funded profit split terms.
Forex Account Types Explained: Your Questions Answered
Which forex account type is best for beginners?
A Standard or Cent account. The pricing is simple and the minimum deposit is low.
What is the difference between Standard and ECN?
Standard builds the cost into the spread. ECN/Raw shows a tighter spread and adds a commission per lot.
Is a cent account real money?
Yes. The balance is just shown in cents, so $10 appears as 1,000 cents.
Sources checked 2026-10-01: vantagemarkets.com, exness.com, hfm.com, justmarkets.com and puprime.com account-type pages.
Related Guides
Sources & verification
- Last checked
- Written by
- HNL Growth Team
- Reviewed by
- Hà Ngọc Lộc
- Length
- 3 min read · 787 words
Rules, prices and payout terms on this page were checked against the official websites, help-centre articles and published terms of the firms mentioned, on the date above. Prop firms and brokers change conditions often — confirm the current version on the official site before you buy or deposit. Read our broker review methodology and affiliate disclosure.
Official sources & documentation verified
- FCA guidance on CFDs and leveraged products(fca.org.uk · Official Regulator)
- FCA ScamSmart(fca.org.uk · Official Regulator)
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