Best Broker for Standard Accounts

In our opinion, there is no best broker and no worst broker. Each broker has advantages and disadvantages in their services. Choose a broker that suits your financial condition and meets your expectations. When you are comfortable with a broker's services, that broker may be considered the best.

For standard accounts, the implementation of this type varies between brokers. A standard 1 lot account with broker A will have a different lot value with another broker. It is a good idea to contact the broker's CS. And you can find out about the services at that broker.

Thanks.

Besides the lot size, how can you determine a good and easy standard account?

For Dwi,...

The type of account is usually determined by the broker.
There are cent, mini, or standard accounts. For example,

InstaForex

1. A cent account starts with a value of 0.10 (10 or Rp.10 / $0.001 )
2. A standard account starts with a value of 0.01 (100 or Rp.100 / $0.01)

So, lot 1.00 in a cent account is equal to 0.01 in a standard account

Master forex
1. A cent account starts with lot 0.10, a value of (100 or Rp.100 / $ 0.01 )
2. A standard account starts with 0.01 a value of (1000 or Rp.1000 / $0.10)

So, lot 1.00 in a cent account is equal to 0.01 in a standard account

Thanks.

@ rofi:
The best broker in my opinion is a broker that has been regulated by a credible international regulatory body such as:

• Commodity Futures Trading Commission (CFTC) - United States
• National Futures Association (NFA) - United States
• Financial Services Authority (FSA) - European and Japanese countries
• Financial Conduct Authority (FCA) - United Kingdom
• Swiss Financial Market Supervisory Authority (FINMA) - Switzerland
• Australian Securities and Investment Commission (ASIC) - Australia

A credible regulatory body is one that has been tested and is internationally recognized and imposes strict sanctions on its members if they are found to have violated agreed-upon provisions.

You can see a list of broker companies that are members of a regulatory body directly on its website.
By trading with these regulated brokers, if there is a problem with the broker, or the broker is caught cheating, you can report it to the regulatory body (of course with sufficient valid evidence).

A standard account is an account opened with the provisions of the standard contract value of international forex trading, namely 1 lot = 100,000 units. For 1 lot of direct currency pairs (XXX/USD) such as EUR/USD, GBP/USD etc, the value per pip is USD 10.00.

A mini account is a term used if you trade with a size of 0.1 lot, where for direct currency pairs the value per pip is USD 1.00, while a cent or micro account is a term used if you trade with a size of 0.01 lot or cent lot, where for direct currency pairs the value per pip is USD 0.1 or around Rp.1300,-

You can choose the type of trading account according to what the broker offers (standard, mini or micro). Of course, for accounts with a larger value per pip, the minimum deposit value will also be larger, for example, the minimum deposit for a standard account will certainly be larger than a mini account, and the minimum deposit for a mini account will be larger than a micro account. In this case, you can also use the spread as a parameter. For example, a standard account with low spreads could be more considered than a mini account with high spreads.

What is the average minimum deposit for a standard account? Are there any below $100?

Please recommend a credible broker whose standard account has an affordable minimum deposit.

Thank you.

@ Husen:
As far as I know, the recommended minimum deposit for a standard account is USD 10,000. Deposits below USD 100 are for micro (cent) accounts. As we explained before, for a standard account the value per pip for EUR/USD or GBP/USD pairs is USD 10, so it is not possible with only a USD 100 deposit, as it wouldn't even be enough for the margin.

For a mini account, a minimum of USD 1,000 is recommended, and for around USD 100 you can trade on a micro account where for direct currency pairs (EUR/USD, GBP/USD, AUD/USD etc.) the value per pip is USD 0.1, so for example if you trade EUR/USD at 0.01 lot with leverage 1:200 then your resilience is around USD 90/USD 0.1 = 900 pips (including margin).

For credible brokers with flexible deposit values (this is not a promotion):

• Exness
• ThinkMarkets
• FXOpen

With what standard account can the lot value be the same across brokers? Because with a micro account, each broker determines the value differently. Some say a cent account but the lot size is still micro, etc...

@ Mr. Hanafi...

Each broker issues different products/account types.
At broker A, a standard account has a value of 100,000 per lot, but at broker B, for this type, 1 lot is worth 10,000.

It's a good idea to ask CS. and usually the site explains the account types and values it offers....