Xtreme Markets Trading Account Types: Choose the Right One for You
Choosing the correct type of trading account is the most crucial decision you’ll ever make when starting your forex trading journey.
Whether you are new to the financial markets or already have some experience, the type of account you choose can make a big difference in your trading experience, fees, and possible profits. At Xtreme Markets, you can go through five types of trading accounts and choose the one that suits your needs. From beginners to professionals, there is an account type for all.
Therefore, understanding how these accounts differ can help you maximize your trading potential while also ensuring you are not losing too much of your money or going into any sort of trading risk.
In this guide, we will break down each account type of this forex trading platform so that you can make a knowledgeable decision that suits your trading objectives and investment funds.
Xtreme Markets Accounts Comparison
Let’s explore the different forex trading account types and their features to determine which will work best for you.
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Cent Account:
The Cent Account is for beginners. The minimum deposit of only $10 means inexperienced traders can dip their toes in the market without spending a fortune. The lower contract size means that each transaction takes less capital, minimizing losses as you get familiar with the account. This account provides variable spreads as low as 1.2 pips and high leverage up to 1000:1, enabling the trader to work with bigger positions using less money.
Ideal for: New traders looking to practice with minimal risk.
Key features:
- Minimum deposit: $10
- Spreads: Starting from 1.2 pips
- Leverage: Upto 1000:1
- Contract size: 1 lot equals 1000 units
2. Prime Account:
The Prime Account is ideal for those one step above the beginner stage and seeking better trading conditions. With a minimum deposit remaining at an affordable $10, this account provides tighter spreads from 0.9 pips, which can result in lower trading fees. The contract size is more significant, with one lot equaling 100,000 units, enabling more significant trades. Maximum leverage of 1000:1 is still in place, allowing for the potential to maximize returns.
Ideal for: Traders with some experience looking for better trading conditions.
Key features:
- Minimum deposit: $10
- Spreads: Starting from 0.9 pips
- Leverage: Upto 1000:1
- Contract size: 1 lot equals 1,00,000 units
3. Platinum Account:
The Platinum Account is designed for traders who want more competitive trading conditions. With a minimum deposit of $200, it provides even tighter spreads from 0.6 pips, which can be helpful for high-frequency traders. The leverage is still high at 1000:1, and the standard contract size provides substantial market exposure.
Ideal for: Experienced traders who are aiming for competitive trading terms.
Key features:
- Minimum deposit: $200
- Spreads: Starting from 0.6 pips
- Leverage: Upto 1000:1
- Contract size: 1 lot equals 1,00,000 units
4.Royal Account:
The Royal Account is designed for professional traders and high-net-worth individuals looking for the best trading conditions. It has a high minimum deposit of $10,000, which provides the tightest spreads from 0.2 pips and thus can lead to very low trading costs. The leverage available is up to 400:1, with lots of scope for large position sizes. The forex trade comes with a commission of $2 per lot, which is very reasonable compared to industry standards.
Ideal for: Professional traders and high-net-worth individuals.
Key features:
- Minimum deposit: $10,000
- Spreads: Starting from 0.2 pips
- Leverage: Upto 400:1
- Contract size: 1 lot equals 1,00,000 units
- Commission: $2 per lot for forex pairs.
5. Power Up Bonus Account:
Power Up Bonus Account suits traders who seek to increase their trading capital through bonus schemes. A deposit of $50 gives access to variable spreads from 1.2 pips and leverage of up to 500:1. This account option features flexible bonuses, where the trader can opt for promotional terms to boost his or her trading capacity.
Ideal for: Traders looking to boost their trading capital with bonuses
Key features:
- Minimum deposit: $10,000
- Spreads: Starting from 0.2 pips
- Leverage: Upto 400:1
- Contract size: 1 lot equals 1,00,000 units
- Flexible bonus offerings: yes
Additional considerations:
- Trading Platforms: All account types support MetaTrader 4, MetaTrader 5, and Web Trader platforms, giving you more freedom in how you trade.
- Swap-Free Options: Islamic (swap-free) accounts are provided for Muslim clients to ensure Sharia compliance.
- Personal Account Manager: Each account type has access to a personal account manager to help you with your trading needs.
Final comparison of different account types
Compare trading accounts and choose the best for you.
| Account Type | Minimum Deposit | Spreads | Leverage | Contract size | Commission |
| Cent | $10 | 1.2 pips | Upto 1000:1 | 1 lot = 1000 units | None |
| Prime | $10 | 0.9 pips | Upto 1000:1 | 1 lot = 100,000 units | None |
| Platinum | $200 | 0.6 pips | Upto 1000:1 | 1 lot = 100,000 units | None |
| Royal | $10,000 | 0.2 pips | Upto 400:1 | 1 lot = 100,000 units | $2 per lot (forex pairs) |
| Power-up bonus | $50 | 1.2 pips | Upto 500:1 | 1 lot = 100,000 units | None |
How to choose the right forex trading account?
Selecting the best trading accounts depends on several factors, such as:
- Your experience level: If you’re a new trader, then the Cent Account is the way to go. The minimum deposit of $10 allows you to practice with live market conditions without risking as much capital. For more experienced traders, the Prime Account has marginally superior trading conditions with lower spreads and still demands a low minimum deposit. If you’re an advanced trader looking for more competitive spreads and better execution, the Platinum Account is the right option for you.
- Your investment capital: If you’re working with a limited budget, the Cent or Prime Account allows you to start small. If you have a more significant amount to invest and want the best conditions, the Royal Account caters for professionals and requires a $10,000 minimum deposit. This account offers the tightest spreads and the lowest commission fees.
- Your trading goals: If you expect to trade regularly and want to keep your trading fees low, choose a reduced spread account, such as the Platinum or Royal Account. If you wish to earn extra money through bonus promotions, the Power-Up Bonus Account may be the best option because it offers versatile incentive offers.
Ultimately, the choice is yours. It is solely your decision and your experience level with your trading goals that will help you choose the right account type.
The Takeaway
Now that you’ve learned that selecting the best trading account at Xtreme Markets requires some criteria and your objectives, we believe you can make the correct choice now. Regardless of what account you choose, please make sure that it suits your trading habits and investment limit.
Overall, the correct account will improve your overall trading performance and enable you to grow in the forex market. So, take the time to consider your choices and choose the account that best suits your trading experience.
