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Fixed Spread or ECN? Here's Comparison of the NSFX Accounts

POSTED BY:
Dan

DATE:
08/10/2017

RELATED LINKS:
NSFX [read review]

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If you're thinking about trading Forex, NSFX [read review] is a great place to start. They're regulated and have a good variety of trading tools to help you out. There are a number of methods for moving money on and off of your account, with few delays.

The big question you will have is, which account should I sign up for? New users can apply for MT4 Fixed, MT4 ECN, or JForex accounts. Each of these accounts has its benefits. This post should give you an idea of which is right for you.

The MT4 Fixed account is the most obvious choice. It has the lowest minimum deposit ($300), highest leverage, and no commissions on trades. Trades are executed instantly, and with fixed spreads you always know what you're going to get.

Fixed spreads, however, do have their downside. They don't change according to market conditions, and that can cost you a lot during major events. With variable spreads, as are offered on both the MT4 ECN and JForex accounts, you are trading Forex with other market participants. You are not trading against a "dealing desk", and Spreads are often non-existent.

The downside of variable spreads is the entry cost. Each trade includes a commission of $8 per lot. There is also a higher initial deposit requirement. $3000 for MT4 ECN and $5000 for JForex. Also, since you are trading in the marketplace, sometimes the other side of your trade isn't available and you have to wait for Market Execution.

In terms of the difference between MT4 ECN and JForex, it's mostly personal preference. These are 2 different trading platforms. Most of you probably know about MT4. JForex is newer and less known, but NSFX [read review] will give you a dedicated account manager to work with to figure it out.

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