A comprehensive review of professional trading accounts from regulated Forex brokers 2023
In the dynamic realm of online trading, the choice of a broker and trading account is pivotal for achieving success. Tailored for seasoned traders in search of advanced features, brokers such as Exness, eToro, HF Markets, and AvaTrade offer professional trading accounts.
This review aims to dissect the unique characteristics of these professional accounts, shedding light on their distinctions from standard accounts. Grasping the intricacies of these accounts is essential for traders aiming to refine their strategies and adeptly maneuver through the intricacies of the financial markets.
Features of professional trading accounts
Professional trading accounts are tailored for experienced traders who demand more from their trading platforms. Here are some key features that distinguish professional accounts from their standard counterparts:
- Increased leverage
Professional accounts often provide higher leverage, allowing traders to amplify their positions. This heightened leverage can be a double-edged sword, offering greater profit potential but also increasing the risk. Traders must exhibit a certain level of experience and understanding to qualify for these increased leverage ratios.
- Advanced trading platforms
Brokers offering professional accounts typically equip traders with advanced trading platforms. These platforms often come with many Technical analysis tools, customizable charts, and sophisticated order execution options. The goal is to empower traders with the tools necessary for intricate market analysis and strategic decision-making.
- Access to a wider range of assets
Professional accounts may offer a broader selection of financial instruments, including more exotic currency pairs, commodities, indices, and even cryptocurrencies. This expanded asset list allows traders to diversify their portfolios and explore different markets beyond conventional options.
- Dedicated account managers
To enhance the overall trading experience, professional accounts often come with personalized support in the form of dedicated account managers. These managers can provide insights, market analysis, and assistance, tailoring their guidance to individual trading strategies and goals.
- Priority customer support
Professional account holders typically receive priority customer support services. This ensures quicker resolution of issues, faster response times, and access to a specialized support team well-versed in the complexities of professional trading.
- Regulatory requirements
To qualify for a professional trading account, traders must meet specific regulatory criteria, such as demonstrating a certain level of trading experience, knowledge, and financial resources. These requirements aim to safeguard traders and ensure that those accessing advanced features have the expertise to navigate the associated risks.
In the subsequent sections, we will explore how each broker—Exness, eToro, NAGA, XTB, and AvaTrade—implements these features within their professional trading account offerings. Understanding the unique attributes of each platform is crucial for traders seeking a tailored and advanced trading experience.
Exness professional trading account review
Exness is a well-established online forex broker that has gained recognition for its user-friendly interface, competitive trading conditions, and a wide range of account types. With a focus on transparency and efficiency, Exness has become a popular choice among traders looking for a reliable platform to engage in the global financial markets.
Minimum deposit: $200 (can be higher based on your geographic location)
Maximum leverage: 1:Unlimited
Available instruments: Forex, metals, Cryptoсurrencies, energies, stocks, indices
Commissions: No commissions
What is required to open a professional trading account is a higher minimum deposit, but other than this, there are no other requirements specifically for pro-offering.
Top features of Exness Pro trading
- Unlimited leverage: Exness offers increased leverage for professional account holders, allowing traders to control larger positions with a relatively smaller amount of capital. This feature is attractive to experienced traders seeking to optimize their trading strategies.
- Advanced trading platforms: Exness provides access to advanced trading platforms, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are renowned for their comprehensive charting tools, technical analysis capabilities, and automated trading options, catering to the diverse needs of professional traders.
- Instant order execution: Professional account holders benefit from the broker’s commitment to fast and efficient order execution. Instant execution is critical in the fast-paced world of trading, and Exness aims to provide a seamless trading experience for its professional clientele. Market execution is offered for other account types.
Exness’s professional trading account caters to the needs of experienced traders, offering a combination of advanced tools, competitive conditions, and dedicated support. As with any trading account, potential users should carefully review the specific terms and conditions associated with the professional account, ensuring alignment with their trading objectives and risk tolerance.
eToro professional trading account review
eToro is a prominent Social trading platform that has gained popularity for its user-friendly interface and innovative approach to online trading. Launched in 2007, eToro is known for introducing Social trading features that allow users to follow and copy the trades of successful investors. The platform offers a diverse range of financial instruments, including stocks, Cryptocurrencies, commodities, and more.
What is required to open a professional trading account is to open a regular trading account and manually apply for professional status. Also, there are certain criteria:
Top features of eToro Pro trading
- Advanced Social trading platform: The Social trading features of the eToro platform set it apart by enabling users to interact with other traders. The CopyTrader functionality enables users to replicate the trades of successful investors, making it an attractive option for those who may be new to trading or seeking diversified strategies. As an expert trader, you can become a Popular Investor and receive a commission for every successful trade of yours that is copied.
- Competitive spreads: eToro aims to offer competitive spreads, which is crucial for traders aiming to optimize their trading costs. Lower spreads can contribute to reducing overall trading expenses, making it more appealing for cost-conscious traders.
- Dedicated account manager: The professional account on eToro often comes with a dedicated account manager. This personalized support can be valuable for traders, providing insights, assistance, and tailored guidance based on individual trading objectives.
eToro’s professional trading account offers a unique blend of advanced features, Social trading innovation, and a diverse asset selection. With a focus on user-friendly interfaces and community engagement, the broker stands out as a platform that caters to both experienced traders and those who are new to the markets with an eToro Retail trading account and Social trading opportunities.
HF Markets Premium Pro trading account review
HF Markets, HotForex before rebranding, is a globally recognized online Forex and commodities broker founded in 2010. Headquartered in Cyprus, the broker has expanded its presence worldwide and gained a reputation for offering a range of trading services to both retail and institutional clients. The Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA) in the UK are only two of the multiple financial authorities that regulate the broker, ensuring a safe and open trading environment.
Minimum deposit: $500 (and up to $5000, depending on your status)
Maximum leverage: 1:400
Available instruments: CFDs on Forex, metals, energies, commodities, indices, stocks, ETFs, and bonds.
What is required to open a professional trading account is a higher minimum deposit, but other than this, there are no other requirements specifically for this pro-offering.
Top features of HF Markets Premium Pro trading:
- Increased leverage: The Premium Pro trading account provides eligible traders with enhanced leverage, allowing for greater control over trading positions. This feature is tailored for experienced traders looking to optimize their strategies.
- Competitive spreads: HF Markets is known for offering competitive spreads from 1 pip across its account types, including the Premium Pro account. Tight spreads contribute to minimizing trading costs and can enhance overall profitability.
- Advanced trading platforms: Premium Pro account holders have access to HotForex’s advanced trading platforms, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are equipped with advanced charting tools, technical analysis features, and automated trading capabilities.
The HF Markets Premium Pro trading account was made to meet the needs of both professional traders and skilled retail traders. Traders who have the experience, knowledge, and skill to make their own investment choices and properly assess risk should do it. The most important thing about this account is that it lets Professional Clients use up to 1:400 leverage and Experienced Retail Clients use up to 1:100 leverage. The stop-out level is set at 20%.
AvaTrade Professional trading account review
AvaTrade is a well-established online broker that has been serving traders since its inception in 2006. Headquartered in Dublin, Ireland, AvaTrade has expanded its global presence and gained recognition for providing a wide range of financial instruments, including forex, commodities, stocks, indices, and cryptocurrencies. The broker is regulated by multiple financial authorities, contributing to its reputation for transparency and reliability.
Maximum leverage: 1:400
What is required to open a professional trading account is to satisfy at least two of the following criteria:
- Sufficient trading activity in the last 12 months:
You have carried out transactions of significant size on the relevant market at an average frequency of 10 per quarter over the previous four quarters (with AvaTrade or other providers). Relevant market: OTC derivatives such as leveraged CFDs or Forex.
Recent (within the last month) account statements in PDF format from trading accounts with regulated brokers are required as proof that you meet the trading requirement.
- Relevant experience in the financial services sector:
You work or have worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services you desire to engage in, i.e., OTC derivatives such as leveraged CFDs or Forex.
A letter from your employer confirming that you were employed for more than a year in the financial sector and that your role required knowledge of OTC leveraged derivatives/trading is required as proof that you meet the trading requirement and relevant experience requirement.
- A financial instrument portfolio of over €500,000 (including cash savings and financial instruments):
Financial instrument portfolio of over €500,000. Financial instruments include shares, derivatives (only cash deposits made to fund or profits realized from investing in derivatives), debt instruments, and cash deposits. It does not include property portfolios, direct commodity ownership, or the notional values of leveraged instruments.
Recent (within the last month) bank account statements (eStatements) and/or account statements in PDF format from trading accounts with regulated brokers are required as proof that you meet the financial instrument portfolio requirement of over €500,000.
Top features of AvaTrade Professional trading:
- Diverse asset selection: Professional account holders at AvaTrade have access to a diverse selection of tradable assets, spanning major and minor forex pairs, commodities, indices, stocks, and cryptocurrencies. This diversity allows traders to build well-rounded portfolios and explore different markets.
- Educational resources: AvaTrade is known for its commitment to trader education. Professional account holders may have access to advanced educational resources, webinars, and market analysis, providing valuable insights to refine trading strategies.
- Dedicated account manager: The professional account at AvaTrade often comes with a dedicated account manager. This personalized support can be beneficial for traders, offering tailored guidance, market insights, and assistance based on individual trading goals.
When you trade with a professional trading account, you can trade your favorite financial assets with the most leverage and the least amount of capital needed. Because there are no limits on leverage, you can make the most of your capital and make bigger profits even when the prices of the base assets don’t change much.
You can effectively increase your capital base with leverage, which can also help you make the most of trading opportunities in the market. Professional traders can also get the most out of their trading cash when margin requirements are low. Margin rules for retail trading accounts are usually set at 50%, which can make it harder to trade. But with a professional trading account, the margin needs are easy to understand and cover a wide range of assets, giving traders the most trading options.
The AvaTrade Professional account is nicely set up to handle complex trading tactics, thanks to its lower spreads and higher leverage. The AvaTrade Professional account gives traders the tools and structure they need to be successful, whether they want to use complex economic analysis, trade using algorithms, or take advantage of short-term market changes.
Exploring professional trading accounts 2023 - FAQ