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As time goes by more and more people start to trade with currencies. To implement the trading process and get the most out of it, it's important to have a Forex broker. 

With the use of Forex brokers, traders can get several services. Each of the brokers varies in their service, however, one of the main differences among them is the trading accounts. In this article, we'll provide you with information on which are some of the most popular Forex trading accounts, what are their characteristics, their advantages, and how they differ in terms of features. 

XM FX Broker Trading Accounts

XM broker has more than 196 countries of operation, a service team that speaks 30 languages, and is one of the most trusted Regulated Brokers. 

More than 1.5 million traders and investors use a broad selection of XM trading products and services, which include cutting-edge trading solutions accessible to both experienced and novice investors. XM's rapid expansion and high level of client confidence may be attributed to the broker's commitment to providing its customers with the greatest possible user experience. 

There are a variety of unique and remarkable trading accounts to choose from - access to all of the trading platforms, including both MT4 and MT5, is covered in all account categories. Incredibly, all of the accounts get access to the bilingual support staff and the personal account manager, which is a huge benefit for account holders.

When it comes to XM Forex broker trading accounts there are 4 options, including micro, standard, XM Ultra Low, and shares accounts. The only similarity of these accounts is that all of them furnish traders with an ability of negative balance protection. When it comes to micro and standard accounts, the contract size, leverage, spreads, and base currency options are identical. In addition to that, both accounts have no commission fees. 

The only difference between them is that lot restrictions per ticket in the case of a micro account is defined as 100 lots, while in the case of a standard account the number is decreased to 50. Similar to standard and micro accounts, the XM Ultra Low account has no commission fees, and also it allows Muslim traders to choose an Islamic trading account. Base currency numbers are decreased for this account and similar to the above-mentioned two accounts, the minimum deposit to open it is estimated at $5. Spread on all major currencies is defined as 0.6 pips, while in the case of standard and micro accounts the pips for a major account is 1. 

The next account is a shares account which is different from others and as a consequence provides traders with different services. It has only one base currency option - USD and the minimum deposit for opening this account is 10,000$. This is the only as well to have commission fees and no leverage. Compared to other trading accounts, the shares account doesn’t allow hedging. The contract size for a shares account is defined as 1 share. 

IG Broker Account Types

As an internet broker that has been in business since 1974, IG has built a solid reputation for itself as one of the most reliable. Over 16,000 financial products are available for trading on IG's platform, distributed across a wide range of asset classes. Additionally, IG provides a wide range of trading tools and instructional materials to help traders of all levels of experience, no matter what their degree of expertise is in the market. 

The broker allows customers to create two types of trading accounts - live and demo accounts. The creation of a demo account is quite easy and straightforward. With the use of a demo account traders can learn more about the way Forex broker’s services work, and what are their advantages and disadvantages. After that they can decide whether or not to create a live account.

A live account provides traders with an opportunity to trade with CFDs. There are many options for trading CFDs, including Forex currencies, cryptos, indices, commodities, and several others. It should also be noted that when you start creating a live account you have two options - to create an IG Limited Risk account and the IG standard trading account. 

There are a few distinctions between the IG Limited Risk account and the IG standard trading account. Negative balance protection is not available to non-EU and non-UK customers, hence this IG Markets account type serves as a workaround. There are a variety of low-risk markets available with the IG Limited Risk account, and there are also guaranteed stop losses and a negative balance protection system.

Forex.com Account Types

Traders throughout the world can rely on FOREX.com to provide them with an exceptional trading experience. In addition to a restricted version of MetaTrader, it offers a large variety of markets and a robust set of custom platforms. FOREX.com's multi-asset offerings will attract currency traders of all skill levels. FOREX.com provides a wide range of trading options, three different account tiers, and complete visibility into all aspects of trade execution. 

Forex.com offers its clients standard, commission, and DMA accounts. Each of them has different services. A standard account is for those traders who are enthusiasts of conventional forex trading. Those who want super-tight spreads and limited commission can choose a commission account. Additionally, Forex.com has accounts for those traders who are professional and have a big experience in this industry. These investors can choose a DMA account in order to get the most out of their trading process.