What's a Live trading account?
Live Account is a trading account a customer can open utilizing My Account capability to trade on iPro Marketplace Trading and Analytical Platform and profit.
Forex demo vs. live: same?
No, a demo account's pricing and spreads match the live account. Demo account execution is server-side, while Live account execution is Liquidity provider-side. If you're new to forex and want to try trading, start with a demo account. A wise man once said, "When you keep on learning, the "L" becomes silent, and you actually start "Earning," so if you want to try things out, start with the demo account, learn how trading works, and then start with a live account.
Live trading account types:
Live forex account basics
Most online forex brokers offer a number of funded account types for live trading in addition to demo accounts. Such accounts suit traders of all skill levels who can fund their accounts in varied quantities.
The deposit amount usually determines the live account type. However, some traders may choose a live account based on pricing quality, minimum transaction amount or lot size, or leverage ratio.
Mini live accounts
Most forex online brokers provide a basic account with a $25 to $500 deposit.
Mini or micro accounts usually include a training tool, the broker's trading platform, and basic technical analysis tools. They're also great for testing new forex brokers.
Mini accounts offer modest minimum trading sizes and margin restrictions. This makes them excellent for beginners who want to learn forex trading without taking on a lot of risks.
Standard live accounts
Standard live forex trading accounts offer more features depending on the broker and deposit.
The standard live account offers greater minimum dealing sizes, narrower dealing spreads, and a $500-$10,000 initial deposit.
Standard live accounts offer more sophisticated services than basic accounts. In addition to the broker's trading platform, live standard account features may include the following:
Text notifications
Personal market information from dealers.
Advanced trading analysis software.
Trading alerts.
Reuters newswires.
Market analysis.
Forex trading automation.
Live VIP accounts
Many online forex brokers provide V.I.P. accounts, the highest account type for individual forex traders. Experienced traders who want the best broker service will like such accounts.
This account usually requires a $10,000 initial deposit. This kind of customer usually gets the narrowest dealing spreads and direct access to the dealing desk. This account usually has the largest minimum transaction size.
VIP accounts may receive customized trading reports, market alert texts to a cell phone, and the dealer calls with customized market information.
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Live Trading Account: How to Open?
Apply and Accept contracts
Register online and accept contracts with a click. Follow STEPS for joint and corporate accounts.
After registration, you receive two emails: one for identification (step 2) and one for contract acceptance. To open your account, you must identify and accept the contract in any sequence.
Identify
Identify by email. Downloading "Dukascopy Connect 911" on your smartphone speeds up video-identification to 15 minutes.
If you have a Swiss bank account, you can identify yourself by emailing your Account Manager I a basic copy of a valid Identity Document, (ii) a selfie, and (iii) a utility bill dated less than 3 months.
Steps for joint and corporate accounts.
Fund your account
We send transfer instructions after approving your account so you can fund your account by card or wire transfer and start utilizing our services.
We email your login and password after receiving money.
Tips
An account can be opened in an hour using video-identification.
Minimum deposit is $1,000.
Online account opening is faster.
Client-specific applications. If you are a client or have applied online and wish to add another account/service, tell your Account Manager.
After account creation, Introducing Agents cannot be added. Enter his name in the online application.
Conclusion
Live account is straightforward. You fund your Forex broker account. Trade. Keep all your earnings. You also pay for your faults. You take all the risks and profit (less broker fees and taxes).