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How to choose a suitable account type. The main account types are as follows: Demo Accounts. These are a great way to get your feed wet in the markets and test strategies. Read more about Best forex demo accounts. Standard Accounts. When using a standard account, the CFD broker is typically the counterparty to your trade, and the cost of executing a trade is reflected in the spread only. ECN Accounts. These accounts are geared toward experienced traders looking for tighter spreads.

While spreads are narrower, commissions are usually also charged. Read more about Best ECN forex brokers. Islamic Accounts.