2015-09-02 | 7418 Print PDF
Instaforex have another type of accounts aside from Standard and Cent account they also offer Eurica account.
if you are a newbies in here first open cent account with highest leverage after that
trade only small lot & cent account is the best for every newbies/beginner .
Now we want to know what are the advantages of Eurica account over standard account.
still confused about the Difference Between Instaforex Eurica Account and Standard Account? as they offer no spread in eurica but with commision as same as spread on standard accounts.
I couldn't understand how eurica will be more beneficial for me in scalping
in Eurica account no spread / no ask price on the market chart.
Instaforex Eurica account is very usefull for newbie who are still confused trading with spread.
eurica account is account without spread (that has the same price between ask price and bid price).
The standard account : Charge spread
The Eurica account : Charge commision 0.03%-0.07%.
you must pay commission according to your lot...
Ex: If you open 1 lot in EUR/USD (3 spreads) you must pay 1 lot x 3 spread > 1$/pip = $3 commission.
Eurica account can be choosen with standard account or cent account.
It can be better for some EA's etc to have no spread because they'll close trades more frequently than on a Standard accounts. Eurica has the same price between ask price and bid price.
For newbies sometimes it is hard to understand on which price the order will be executed when open buy, sell and closed order.
So insta forex create eurica account for newbie segmentation. But you can get rebates for both accounts with http://instaforex-africa.com 1.5 pips right back into your account on every single trade.
Both are equal in spreads so why I would go to Eurica account?
Basically, there is no difference. The calculation only differs from each other.
The brokers commission will be taken from spread, in standard account.
The brokers commission will be taken from our orders directly by mentioning commission, in eurica account.
The advantage may be, you are not disturbed in calculating the profits in standard account, with every trade there is a commission.
The advantage of eurica account is that if you open a trade and suddenly decide that the trade is not a good trade even with a 3 pip profit, you can still close the trade and have profit on it.
Only a percentage of your profit will be charged. But in standard account with spread, when you have 3 pip move, your profit will be zero.
Eurica account have more advantage with traders who trade currency pairs that have large spread.
Eurica account has more benefits for traders that have difficulties to count their profit and set the right price when entering or leaving the market.
But this is only the matter on how traders eyes see the market price. about the commision, its sometimes bigger than spread. So I think everyone should consider carefully when picking the right account.
Eurica platform is very good you dont have to trade forex with spreads you will only pay comission if you win or loose but with orderly standard platform the spread will and can affect you on the market.
1 lot in eurica account is 1 cent, so if you have small capital or just start to learn live forex trading Eurica will be good option as you could start trading with very very little money.