Spectrum FX Account Type

Spectrum FX offers two primary types of trading accounts tailored to meet the diverse needs of traders:

• Standard Account:
• Commission: No commission charged; instead, a markup of 1 pip above the raw interbank rate.
• Spread: Variable spreads starting from 1 pip.
• Minimum Deposit: $50.
• Leverage: Flexible options ranging from 1:1 to 1:1000.
• Trading Conditions: Ideal for traders who prefer a straightforward pricing structure without hidden costs.
• ECN Account:
• Commission: A commission of $7 per standard lot round turn.
• Spread: Raw interbank spreads sourced directly from liquidity providers.
• Minimum Deposit: $500.
• Leverage: Flexible options similar to the Standard Account.
• Trading Conditions: Best suited for traders seeking the lowest possible spreads and transparent commission structures.

Spectrum FX Broker Account Opening Process

To open an account with Spectrum FX, follow these steps:

• Visit the Website: Go to the official Spectrum FX website.
• Select Account Type: Choose between the Standard Account or the ECN Account based on your trading preferences.
• Fill Out Registration Form: Provide the necessary personal information, including your name, email address, and phone number.
• Verify Identity: Submit identification documents such as a government-issued photo ID and proof of address (not older than 6 months).
• Fund Your Account: Make an initial deposit using one of the available payment methods (minimum deposit is $50 for the Standard Account and $500 for the ECN Account).
• Start Trading: Once your account is verified and funded, you can access the trading platform and begin trading.

For more detailed information on account types and the opening process, please refer to the official Spectrum FX website.