CompareFX Editorial · Updated June 2026 · 9 min read

Forex broker account types compared: which EU broker offers what in 2026

Q: What is the best account type for EU beginners?

A Standard retail account is best for EU beginners. No per-lot commission to calculate, full ESMA retail protections including negative balance protection, and a simpler cost structure. Open a demo account first with any broker to test the platform before depositing real money. Upgrade to ECN/Raw once you consistently place 10+ trades per month and want to reduce your cost-per-lot.

Q: Can EU traders access Professional accounts?

Yes, if you meet at least two of three criteria: (1) you have placed 10+ significant trades per quarter in the past year, (2) your financial instrument portfolio exceeds €500,000, or (3) you work or have worked in the financial sector. Professional accounts give access to higher leverage but remove ESMA retail protections including negative balance protection and the ICF compensation scheme. The decision to opt up to Professional is irreversible until you request reassessment.

Q: What is the difference between ECN and STP accounts?

ECN (Electronic Communication Network) and STP (Straight Through Processing) both route orders directly to the market without a dealing desk. ECN typically offers tighter raw spreads (0.0 pips) with a per-lot commission, aggregating liquidity from multiple providers. STP routes orders directly to one or two liquidity providers with a small markup on spreads and no explicit commission. In practice, many retail brokers use the terms interchangeably. The key question is: what is the all-in cost (spread + commission) per standard lot on EUR/USD?

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CFD risk warning: Between 74% and 89% of retail investor accounts lose money when trading CFDs. Account type affects your cost per trade but does not reduce the underlying risk of loss.

Choosing the right account type is one of the most practical decisions an EU forex trader makes. The wrong choice means paying 3× the cost per trade — and many beginners simply open whichever account the broker defaults to, without comparing the alternatives.

This guide compares the actual account offerings from five major CySEC-regulated brokers in 2026 — Exness, AvaTrade, Pepperstone, IC Markets, and XM — covering Standard, ECN/Raw, Professional, and Swap-free options side by side.

Master comparison: EU broker account types at a glance

All brokers listed are CySEC-regulated (Cyprus Investment Firm) and EU retail protections apply: ESMA leverage caps (max 30:1 majors), negative balance protection, ICF compensation up to €20,000.

Broker (CIF licence)	Standard spread EUR/USD	ECN/Raw spread EUR/USD	ECN commission (per lot each way)	Min deposit	Pro account	Swap-free	Platforms
Exness (178/12)	From 0.3 pips	From 0.0 pips	$3.50	$0	✓	✓	MT4, MT5, WebTerminal
AvaTrade (347/17)	From 0.9 pips	N/A (spread-only)	N/A	€100	✓	✓	MT4, MT5, AvaTradeGO
Pepperstone (388/20)	From 1.0 pips	From 0.0 pips	$3.50	€200	✓	✓	MT4, MT5, cTrader, TradingView
IC Markets (362/18)	From 1.0 pips	From 0.0 pips	$3.50	$200	✓	✓	MT4, MT5, cTrader
XM (120/10)	From 1.6 pips (Micro/Standard)	From 0.1 pips (Zero)	$3.50	$5	✓	✓	MT4, MT5

Spreads are variable. Figures shown are minimum/from figures. Actual spreads widen during news events and low liquidity. All brokers regulated under CySEC/MiFID II. Verified June 2026.

Exness account types

Exness

CySEC licence 178/12 · Regulated since 2012 · No minimum deposit

Best for: beginners + active traders

Standard Standard Cent Raw Spread Zero Pro Swap-free Demo

Account type	Min deposit	EUR/USD spread (from)	Commission (per lot)	Leverage (EU retail max)	Best for
Standard	$0	0.3 pips	None	30:1	Beginners, low volume
Standard Cent	$0	0.3 pips	None	30:1	Micro-volume beginners ($0.01/pip)
Raw Spread	$0	0.0 pips	$3.50/lot each way	30:1	Active traders 10+ lots/month
Zero	$0	0.0 pips	$3.50/lot (major 30 pairs)	30:1	Scalpers, zero-spread traders
Pro	$0	0.1 pips	None	Up to 200:1*	Eligible professional clients

*Professional account: higher leverage is available but removes ESMA retail protections (negative balance protection, ICF). Eligibility criteria apply.

Exness is the only major EU-regulated broker with no minimum deposit across all account types. The Standard Cent account allows trading micro positions worth $0.01 per pip — useful for absolute beginners. All accounts include free demo, MT4/MT5, and instant swap-free conversion in the Personal Area.

Open Exness account →

74–89% of retail CFD accounts lose money.

AvaTrade account types

AvaTrade

CySEC licence 347/17 · Regulated across 6 jurisdictions · Min deposit €100

Best for: beginners who want structure + multi-asset

Retail / Standard Professional Islamic (Swap-free) Demo

Account type	Min deposit	EUR/USD spread (from)	Commission	Leverage (EU retail max)	Best for
Retail (Standard)	€100	0.9 pips	None (spread-only)	30:1	Beginners, casual traders
Professional	€100	0.9 pips	None	Up to 400:1*	Eligible professional clients
Islamic (Swap-free)	€100	0.9 pips	None	30:1	No overnight interest required

*Professional account removes ESMA retail protections. Eligibility criteria apply — AvaTrade conducts full assessment.

AvaTrade does not offer a raw/ECN account — all accounts are spread-only with no per-lot commission. This simplifies cost calculation but means AvaTrade is not the optimal choice for high-volume scalpers. The AvaTradeGO mobile app is one of the best-rated in the industry. AvaTrade is regulated in 6 jurisdictions including EU (CySEC), UK (FCA oversight), Australia, and Japan — offering strong regulatory diversity.

Open AvaTrade account →

71% of retail CFD accounts lose money.

Pepperstone account types

Pepperstone

CySEC licence 388/20 · Min deposit €200 · 5 platforms

Best for: active traders, cTrader users

Standard Razor (ECN) Professional Swap-free Demo

Account type	Min deposit	EUR/USD spread (from)	Commission	Leverage (EU retail max)	Best for
Standard	€200	1.0 pips	None	30:1	Beginners, occasional traders
Razor (ECN/Raw)	€200	0.0 pips	$3.50/lot each way (MT4/MT5); $3.50 (cTrader)	30:1	Scalpers, active traders
Professional	€200	Same as chosen account type	Same as chosen type	Higher leverage (eligibility required)*	Eligible professional clients

*Professional accounts: ESMA retail protections removed. Full assessment conducted by Pepperstone compliance team.

Pepperstone stands out for its platform breadth: MT4, MT5, cTrader, TradingView, and DupliTrade (copy trading) are all available on the same account. The Razor account on cTrader provides deep order book access and algorithmic trading support. Pepperstone also offers TradingView integration, allowing chart analysis and one-click execution without switching platforms.

IC Markets account types

IC Markets

CySEC licence 362/18 · Min deposit $200 · Known for tight ECN spreads

Best for: scalpers, EA traders

Standard Raw Spread (MT4/MT5) Raw Spread (cTrader) Professional Swap-free Demo

Account type	Min deposit	EUR/USD spread (from)	Commission	Leverage (EU retail max)	Best for
Standard	$200	1.0 pips	None	30:1	Beginners, casual traders
Raw Spread (MT4/MT5)	$200	0.0 pips	$3.50/lot each way	30:1	Scalpers, active traders
Raw Spread (cTrader)	$200	0.0 pips	$3.00/lot each way	30:1	Algorithmic trading, cTrader preference

IC Markets offers the lowest commission on cTrader Raw Spread accounts ($3.00/lot each way vs the standard industry $3.50). This saves $1.00 per round-turn on a standard lot — meaningful for high-frequency traders. IC Markets is consistently rated highest for execution speed and is the preferred broker for algorithmic/EA traders due to its server co-location with the NY4 and LD4 data centres.

XM account types

XM

CySEC licence 120/10 · Min deposit $5 · 1,400+ instruments

Best for: micro-lot beginners, broad instrument range

Micro Standard Zero Professional Swap-free Demo

Account type	Min deposit	EUR/USD spread (from)	Commission	Lot size	Best for
Micro	$5	1.6 pips	None	0.001–100 lots	Absolute beginners with very small capital
Standard	$5	1.6 pips	None	0.01–1,000 lots	Standard retail trading
Zero	$100	0.1 pips (30 instruments)	$3.50/lot each way	0.01–1,000 lots	Active traders wanting near-raw spreads

XM's $5 minimum deposit makes it one of the most accessible EU-regulated brokers for beginners starting with very small capital. The Micro account allows nano/micro-lot positions, making it possible to trade with strict capital preservation. XM also has a strong education platform (XM Research, webinars, and a broker-sponsored trading academy) that suits beginners who want structured learning.

Which account type is right for you?

First-time trader

→ Exness Standard (no min deposit) or XM Micro ($5). Open a demo account first with either broker. Use Standard/Micro until you are consistently profitable for 3+ months, then evaluate ECN.

Swing trader (1–10 days)

→ Any Standard account. Spread cost is a one-time entry cost. For positions held days or weeks, the spread is a tiny fraction of your target move. No commission to track.

Active trader (10+ lots/month)

→ ECN/Raw Spread account. At 10 lots/month, saving 0.5 pips per trade saves $50/month. At 100 lots/month, saving $1 spread per lot = $1,000/month saved. Pepperstone Razor or IC Markets Raw on cTrader offer the tightest combination.

EA/algorithmic trader

→ IC Markets Raw Spread (cTrader) or Pepperstone Razor (MT4/MT5). Both offer co-location-quality execution, NDD (No Dealing Desk), and are optimised for algorithmic order flow.

Islamic finance (no overnight interest)

→ Swap-free account at any of the 5 brokers. Exness allows instant swap-free conversion in the Personal Area. AvaTrade Islamic account is available on request. Verify the administration fee terms after the grace period before holding positions 7+ days.

Multi-asset trader (stocks, crypto, indices)

→ AvaTrade for the broadest multi-asset range with a single account. AvaTrade covers 250+ instruments across 6 asset classes on the same retail account.

Frequently asked questions

Which EU broker has no minimum deposit?

Exness (CySEC 178/12) has no minimum deposit on its Standard and Standard Cent accounts. XM has a $5 minimum. AvaTrade requires €100. Always verify the current minimum on the broker's official website as figures change.

What is the best account type for EU beginners?

A Standard retail account is best for EU beginners — no per-lot commission, full ESMA retail protections, and a simpler cost structure. Open a demo account first to test the platform before depositing. Upgrade to ECN/Raw once you consistently place 10+ trades per month and want to reduce cost-per-lot.

Can EU traders access Professional accounts?

Yes, if you meet at least two of three ESMA criteria: (1) 10+ significant trades per quarter for the past year, (2) financial instrument portfolio over €500,000, or (3) financial sector work experience. Professional accounts give higher leverage but remove ESMA retail protections including negative balance protection and ICF coverage. This is a significant risk trade-off — consider carefully.

Are all EU forex brokers regulated under the same rules?

All EU forex brokers are subject to ESMA rules and MiFID II. The national regulator varies (CySEC, BaFin, AMF, etc.) but the core retail protections are identical. CySEC is most common for major brokers because a Cyprus licence is passportable across all 27 EU member states. Always verify the CIF licence number before opening any account.

What is the difference between ECN and STP accounts?

ECN (Electronic Communication Network) aggregates liquidity from multiple providers offering tighter spreads with per-lot commission. STP (Straight Through Processing) routes directly to one or two liquidity providers with a small spread markup and no explicit commission. Many retail brokers use the terms interchangeably. The key comparison metric: total all-in cost (spread + commission per round-turn) on your most-traded pair.