The primary difference between a Pro and Standard account lies in how trade execution costs are charged.
- Pro Account: Spreads start from 0.0 pips, and a commission of $7 per lot (round trip) is charged.
- Standard Account: There is no commission charge, but spreads start from 1.0 pips.
For example, if you were trading a standard lot of EURUSD:
- Standard Account: With a spread of 1.7 pips, the spread cost would be $17 for executing the trade.
- Pro Account: With a spread of 0.7 pips, the cost would be $7 in spread plus a $7 commission, totaling $14 for the trade.
The benefit of a Standard account is that there are no separate commission charges, as costs are included in the spread. On the other hand, the benefit of a Pro account is tighter spreads, which, even with the commission, generally result in lower overall trading costs.
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