Monday, February 23, 2009
MINI FOREX ACCOUNT
Some brokers have software in their Trade Stations that automatically calculates the required margin while others manually set the margin requirements are continually varying. Some brokers offer margins as low as US$50 per lot on their minis. Trading size is normally 1/10th the size of a regular account.
A mini forex account can be opened at anytime but many traders practice on a demo account first to test their trading strategies and techniques. The amount varies from broker to broker. Those with less than US$5,000 often favour mini accounts although regular accounts may be opened with a minimum of $2000-$5,000. A mini forex account is designed for those new to online trading and those with limited investment capital.