What is a standard forex account?
A standard account commonly includes transaction cost in a spread rather than billing a separate forex commission. The spread can be variable, and a wider displayed quote may still be cheaper than a raw account once commissions are included. Check the actual spread for the pairs and times you trade, as well as financing and non-trading charges.
How a raw-spread account is priced
Raw-style accounts typically show a narrower underlying spread and charge a separate transaction commission. Commission may be expressed per side, per round turn, per standard lot or by notional value. A raw minimum of 0.0 pip does not mean a free trade.
For a detailed framework, read Standard vs Raw Spread Forex Accounts, and use the True Trading Cost Calculator to model lots, trade count and nights held.
What “zero spread” may actually mean
“Zero” usually describes a pricing model or promotional minimum, not a permanent guarantee for every currency pair or market condition. Zero-style accounts may offer specified instruments with a zero or near-zero spread for certain intervals while applying explicit commission, other markups, restricted symbol availability or conditions. Read the broker’s official pricing table in full.
What is a cent forex account?
Cent accounts are often presented with balances measured in cents rather than full account-currency units, and may offer smaller effective trade exposure. But their lot conventions and maximum position sizes vary. A displayed 1.00 “cent lot” is not necessarily the same notional exposure as a conventional standard lot. Always check the symbol’s actual contract size, minimum transaction volume and pip value.
| Account label | Typical pricing emphasis | Must verify |
|---|---|---|
| Standard | Spread-inclusive transaction cost | Variable spread, swaps, lot specifications |
| Raw | Tighter spread + commission | Per-side or round-turn fee, availability |
| Zero | Very low/zero minimum spread for some symbols | Commission, time/symbol restrictions |
| Cent | Smaller denomination or contract exposure | Contract size, cent-lot meaning, available symbols |
An illustrative all-in cost comparison
Assume an EUR/USD position where one standard 100,000-unit lot is worth approximately $10 per pip in a USD account. Account A quotes a 1.0-pip spread with no separate commission, resulting in an estimated $10 spread cost. Account B quotes a 0.3-pip spread with $3.50 commission per side, resulting in $3 of spread plus $7 round-turn commission, also $10.
Spread $10
Commission $0
Total $10
Spread $3
Commission $7
Total $10
Invented example only; excludes swaps, slippage and account conversion.
Neither label establishes a universal winner. Real costs depend on trade volume, spreads during the relevant sessions, currency conversions and the actual broker agreement. Cent accounts require contract-normalised calculations before a dollar-for-dollar comparison is valid.
How to compare account terms for your style
For a frequent intraday trader, transaction repetition can make spreads and commissions especially relevant. A trader holding positions for multiple days must also include long/short rollover charges, while a beginner investigating cent accounts should prioritise understandable position sizing and risk limits over the apparent affordability of a deposit.
Use the calculator for consistent scenario estimates, then visit Compare Broker Costs for paired research. Treat results based on advertised minimum spread as illustrations until representative current data are confirmed.
Beyond costs: execution, regulation and availability
Check platform support, minimum deposits, maximum position size, order types, account-specific instrument availability, margin rules and withdrawal charges. The legal entity and retail protections serving your country are as important as the account label. A “Raw” or “ECN” account does not independently establish the venue or quality of execution.
Frequently Asked Questions
Is a zero-spread account always cheaper than a standard account?
No. Commission and non-zero spreads at other times may change the effective all-in transaction cost.
Is a cent account always equal to a micro-lot account?
No. Brokers define cent-account denominations and contracts differently. Verify actual notional exposure and pip value.
Does “ECN” guarantee the broker’s execution model?
No. Marketing terminology is not a substitute for contractual order-execution policies, liquidity and pricing disclosures.
Educational material only. Account features vary by broker entity and country, and leveraged forex/CFDs involve substantial loss risk.