All content is for educational purposes only and is not to be construed as financial advice, financial services, or an invitation to trade. MonedaFX does not manage any client funds. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money before trading. Please trade responsibly.

Learn how to setup a trading account

This tutorial page teaches you how to create a trading account and explains what the different setting options mean.

Follow the video lesson below which teaches you the process of creating a trading account.

9:16 Video Embed

Trading Platforms:

MetaTrader 4

This platform is needed for using Autopilot Trading apps since the software uses MT4. MT4 is primarily designed for forex trading and offers a simpler, more user-friendly interface.

MetaTrader 5

MT5 supports a wider range of assets including stocks, commodities, and futures, as well as forex, and also offers more advanced technical analysis tools and order types compared to MT4

Account Types:


RAW ECN

RAW ECN accounts trade directly with market liquidity providers and therefore offer rapid execution of trades and typically much lower spreads. In exchange for lower spreads, they trade with a fixed commission per lot size which allows for better transparency of fees during trading.

Standard

Standard STP accounts go through a dealing desk, which makes for slower execution that ECN accounts. They use a spread which includes a markup, making them slightly wider compared to ECN accounts. The brokers trading fee is included in the spread meaning there is only one number to consider, but the fluctuating spreads mean less transparency when trading.

Swap-free

Swap free accounts cater to traders who, due to religious beliefs, are prohibited from receiving or paying swap fees or interest fees. This provision ensures their trading activities align with their belief.

Leverage:

1:500 Leverage

Every $1 of account balance gives $500 of buying power. Higher leverage matters for scalping trading strategies because they target very small price movements in the market. With higher leverage, larger lot sizes can be opened using a smaller account size.

1:10 Leverage

Every $1 of account balance gives $10 of buying power. Lower leverage can be used for scalping but a commensurately larger account is needed to make the same trading result.

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Compulsory Legal Risk Disclaimer:
You remain in full control of your trading account at all times and MonedaFX® does not provide financial advice or manage client funds. Trading in financial markets involves significant risk. Past performance is not indicative of future results. The vast majority of retail traders lose money when trading in CFDs. You should consider whether you can afford to take the high risk of losing money. MonedaFX® is not authorized by the FCA to provide financial services. No part of our services or content constitutes a financial promotion as defined by Section 21 of the FSMA. All content is for educational purposes only. You are solely responsible for your financial decisions. For our full terms of service see our user guides or visit our website. Use our automated trading tools responsibly.