Basic Account
Designed for traders new to the Forex market and those who prefer to trade smaller volumes, the Basic account allows investors to trade in smaller sizes and open an account with a lower initial deposit than other account types, all while accessing the robust Web Trader platform.
| CURRENCY PAIR | FIXED |
|---|---|
| Trading Platform | MetaTrader 4, Webtrader and Mobile Trading |
| Spreads | From 1 pip |
| Trading Instruments | Forex, Indices, Commodities, Shares and CFDs |
| Fifth Decimal | Yes |
| Max leverage | 1:10 * |
| Execution | Market Execution |
| Minimum opening deposit | $ 1000 |
| Minimum trade size | 0.01 lot |
| Trade size increment | 0.01 |
| Maximum Total Trade Size | 5 Standard lots |
| Maximum Simultaneous Open Orders | 150 |
| Margin Call / Stop out level | 40% / 10% |
| Telephone Trading | Yes |
| Account Currency | USD |
| Commission | No |
The maximum leverage may differ depending on the client’s individual assessment.
Advertised Spreads
Our spreads are variable. The spreads mentioned above were derived from the time-weighted average between January 1, 2014, and May 1, 2014. The advertised spreads may not apply to accounts from referring brokers. Our goal is to offer traders tight, competitive spreads; however, market conditions may occasionally cause the spreads to widen beyond the listed averages.
EXECUTION DISCLAIMER
When trading Forex on both execution models—dealing desk and no dealing desk—we act as the final counterparty to the transactions. In both models, Myrcanta collects bid and ask prices from a pool of liquidity providers, with the best available quotes offered on our platforms after applying our mark-up. The mark-up can vary based on the liquidity provider and account type. Factors such as the liquidity provider’s quote rejection rates, network performance (e.g., latency), liquidity depth, and overall execution quality all influence the mark-up.
For the Dealing Desk execution model, we may act as the counterparty for some or all currency pairs, with backup liquidity providers available if we do not serve as the dealer. It’s important to note that the Dealing Desk relies on fewer liquidity providers than the No Dealing Desk (NDD) model.
We cannot guarantee that one execution model will always provide better quotes, prices, or spreads over the other. Clients should consider factors such as their trading methods or strategies when selecting the most suitable execution type for their needs.
