Posts Tagged ‘Forex Broker With Micro Account’
Mini Forex Online Trading
January 21st, 2009
Mini forex accounts are forex platforms designed specifically for forex trading beginners.
One of the main worries of the new trader is if he will need lots of money in order to start placing currency trades. The reality is,virtually anyone can enter the forex markets and start to place trades.
All you need to get you started are a few hundred dollars to open a Mini trading Account. A mini account uses a leverage calculation that means you’ll trade in lots that are just one tenth the size of a regular account, which reduces the amount of
money you risk to lose!
Pips in Mini Accounts are usually worth $1, instead of the $10 value in a regular account.
Mini accounts offer between 100:1 to 200:1 leverage on your deposit. This means that just a $100 margin deposit will allow you to trade lots worth as much as $10,000. But the smaller lot sizes, with correspondingly smaller pip values, means that you’ll be profiting less from a successful trade and also losing less if the trade goes wrong.
For example, a 20-pip loss on a $100,000 trade would be $200 with a regular account,but a 20 pip loss on a 10,000 position in a Mini account would amount to only $20.
Typically the minimum required account deposit for a mini account would be between $200 to $300, with leverage of up to 200:1. The only real difference between regular accounts and mini accounts is the size and scale of the trades.
Mini accounts are ideal for new forex traders to develop their trading strategy and technique without the worries of losing lots of money! Most online brokers offer mini accounts.
Forex Mini & Micro Accounts – Forex Forum – EarnForex
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