CFD account types explained: Pro, Cent, ECN, Prime and stock accounts
โ๏ธ TradeAcademy๐ฆ Brokers & platformsโฑ๏ธ 3 min read
Most brokers offer several account types, and the names (Pro, ECN, Prime, Cent...) don't tell you much. The real differences come down to three questions: how you pay for each trade, how much leverage you get, and what you can trade. We'll use RoboForex's five account types as the example, but the same logic applies at any broker.
RoboForex Ltd (FSC Belize) does not accept clients from the EU, EEA or UK. EU brokers use the same account models under different names, usually "Standard" (spread only) and "Raw" or "ECN" (spread + commission).
The two ways you pay: spread or commission
Spread-only accounts build the broker's fee into a wider spread. There's no commission line on your statement, which makes costs simple to understand.
Raw-spread accounts show the market spread, often close to 0 pips, and charge a fixed commission per lot instead.
Neither is "free". Compare the total cost of a round trip:
Cost = (Spread in pips ร pip value) + Commission
Example (EURUSD, 1 lot, $10 per pip): a spread-only account at 1.3 pips costs 1.3 ร $10 = $13. A raw account at 0.2 pips plus a $7 commission costs 0.2 ร $10 + $7 = $9. If you trade ten times a day, that $4 difference is $40 a day.
The five RoboForex account types
| Account | How you pay | Best for |
|---|---|---|
| Pro | Spread only, no commission; the highest leverage | Beginners and small accounts |
| ProCent | Like Pro, but balance shown in cents ($10 = 1,000) and positions 1/100 of a standard lot | Testing a strategy with real money in tiny sizes |
| ECN | Raw spread from 0 pips + commission per lot | Active traders and scalpers |
| Prime | Raw spread + lower commission than ECN | High-volume traders chasing the lowest total cost |
| R StocksTrader | Commission-based, on the broker's own platform | Real stocks and ETFs as well as CFDs |
The minimum deposit is about $10 for Pro, ProCent, ECN and Prime, and about $100 for R StocksTrader. Spreads, commissions and leverage change over time, so check the current contract specifications on the broker's site before choosing.
What a cent account really is
A cent account isn't a different market. It's the same prices with everything shown in cents. A $10 deposit appears as 1,000, and every position is 1/100 of the normal lot size. That makes it useful for one thing: moving from demo to real money with almost nothing at stake, so you can learn how you feel when the money is real.
Leverage: take less than you're offered
Offshore accounts may offer up to 1:2000. Leverage only changes the margin a trade needs, not your risk. Your risk is set by your stop distance and lot size. High leverage mainly makes it easy to open positions that are far too big. Pick a modest setting.
How to choose
- New, or depositing under a few hundred dollars: a spread-only account (Pro), or a cent account to start.
- Trading many times a day, or using tight stops: a raw account (ECN or Prime), where the lower total cost adds up.
- You want to own real shares: a stock account (R StocksTrader).
Whatever you pick, open a demo of the same type first. Then follow our guides on opening the account and setting up MetaTrader 5, or get everything in one PDF with our free ebook.
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Disclaimer: Not financial advice. Trading involves significant risk of loss.