IC Markets - Standard vs ECN accounts

Can someone tell me why somebody would choose either the standard or ecn accounts - does it depend on your trading style?

depends on you, do you prefer spread or comission
if u wanna trade all pairs go for ecn, if u keep with majors u can do standard (spread still pretty low)

The way I calculate and I'm probably wrong, if someone could correct me:

Cost of 1 EURUSD lot with ECN account (https://www.icmarkets.com/au/en/trad...ue-ecn-account) = Av 0.1 pip spread + $7 commission per lot = $8

Cost of 1 EURUSD lot with Standard account (https://www.icmarkets.com/au/en/trading-pricing/spreads) = Av 1.1 pip spread = $11

Assuming 1 pip per lot = $10 (https://www.dailyfx.com/forex/educat...-is-a-pip.html)

So, ECN is cheaper (according to my calculations), so why would someone choose a standard account? Is there some advantage to the extra cost - better liquidity, less slippage, etc? Does anybody know?

Sc11,
It depends on the trading style. e.g For ECN, your TP may be 1.20001 but for standard your TP is 1.20011. This means with standard, you did not pay any commission if you are willing to wait for higher price (Take Profit) in this case (or price may not reach my TP). So that is why you have a choice of ECN or standard. The choice is yours.

Just like booking an airline ticket, you pay to choose a preferred seat or let the airline decide. Either way you still get a seat and still arrive at the same time !
The choice is yours.

generally it depends on your trading sytle

if you're a scalper and take a lot of small trades during the trading day , you appreciate having very narrow spreads and paying a small commission

if you're a longer term trader , executing a very small number of trades per week , but aiming for larger profits , it doesn't bother you too much to pay a larger spread

Maybe the difference is rebates that the standard account can give some parts of trading costs back to you but ecn no.

if you sign up under an IB, you can got rebates for both accounts.

What's the difference between true ecn and raw spread account? The support agent said it's only name change. Trading conditions are still the same. But if everything is the same, then there should not be a need to change the name. Am i missing out on something?

Perhaps ASIC is also cracking down on terms like " true ECN" as they may be deemed as somewhat misleading.

Or they simply adapt with time. Some years ago the majority of brokers were offering market maker accounts only in the retail sector. This is, where ICMarkets were emphasizing their attempt by offering a "TrueECN account".

Nowadays, where ECN accounts are the standard even in the retail forex industry, this declaration simply sounds outdated and RAWspread better refers to what it is.

Hello! IC Markets changed swap values?

depends on the trading style , i personally only use standard account with icmarkets

ICMarkets offers Standard account suitable for traders who want to place orders for 1 day or more and will not pay commission. Raw account, it will be more necessary for traders to hold orders for a very short time usually less than 1 day, especially scalping

I have learned, that True ECN is a way to trade against other traders. Like in a true stock market your trade is filled when somebody buys your position. In some cases you only can sell part of your position, because there are not buyers for the whole position.

A standard account, then you trade opposed to the broker. Your position is allways filled when the price hit your TP or SL. In that case the broker try to get as much as possible from you and he can use some tricks to get you.

Nobody in this thread have told this. Am I wrong??