Forex Mini & Micro Accounts

FXexpert

Master Trader
Dec 13, 2008
503
3
47
This Article Can Be Found At: Forex Secrets Blog

Many of the most trusted brokers offer Mini & even Micro trading accounts for new traders who want to learn the ropes of trading Forex without having to risk a large investment to do so. Mini accounts are live trading accounts in which a trader can deposit a small sum(generally $50-$250 minimum), these accounts allow traders to learn trend following techniques, try signal services & other trading software and, most importantly, gain experience in a real time trading situation.

It's proven that brokers which offer Mini trading accounts attract more new traders, are usually more trustworthy and have an easier time getting larger deposits from traders who once had a Mini account(traders who learned the basic of Forex & decided to make a larger deposit into their account).

Whether you're a new trader or an experienced Forex guru, look for a Mini account option when choosing a broker, it could be the difference between success & failure.
 

andy003

Master Trader
Jan 7, 2009
252
1
47
Its most judicious to start trading through mini or micro accounts.Better still to paper trade or demo trade.

Demo trading helps traders practice with live market data while the money is only unreal.
 

effx

Active Trader
Dec 16, 2008
15
0
32
Its most judicious to start trading through mini or micro accounts.Better still to paper trade or demo trade.

Demo trading helps traders practice with live market data while the money is only unreal.

Of course it's better to paper trade first but when you start live trading, it's better to start with mini or micro account depending on your amount because if you start with standard right away, you're risking too much.
 

Karl Strauss

Active Trader
Jan 8, 2009
4
0
32
ECN markets

Hi forum:
I think micro accounts are the best way for beginners, obviously after some time practicing with a demo account. You should use ECN markets, are less risky.
Karl Strauss
Economist
Harvard University
 

RockFX

Active Trader
Feb 11, 2009
1
0
32
Hi
Try ****** for mini accounts. They also have the biggest choice of online trading platforms in the world.
 
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onlinestock

Active Trader
Feb 5, 2009
6
0
32
I dont know exactly what will work for me, I need suggestion over this. Can anybody give me? I have recently invested $1000 in forex. How helpful is this? Please advise.
 

pipmanager

Active Trader
Mar 11, 2009
5
0
32
couldnt agree more with FX expert.. mini/micro accounts only if equity is sub 1000!!!. anything else and i give you five minutes in the market... i know sounds harsh but its the pragmatist in me talking.
a mini account has the added benifit of feeling real market emotions over demo trading.. i recomend demo to check your technical skills and the a micro/mini account to profile yourself pschycologically..(bad spelling)...thats how i started... though a few years back brokers were not quite up to the mark with offering such accounts when they realised there was demand the stepped up..
check these guys out on google WSD Global Markets... perhaps try live support cause i know they offer mini/micro accounts but not sure if website has mentioned it. no slippage on the trades with these guys..
 

FXexpert

Master Trader
Dec 13, 2008
503
3
47
I would like to try them out on a mini or demo as well, do we know what country they're regulated in ?? They're history and reputation ??
 

devis77

Active Trader
Nov 8, 2011
39
4
34
Yes, I will also recommend you to start with the demo account. Its quite beneficial for the intials starting in Forex market but when you finally think about earning successfully in the forex trading market, you would ultimately have to enter into real money trading. Such practices are good for being knowledgeable and learning the fundamentals, but you will come to know about the actual market scenario only when you practically trade through your real account. Hence, practice yourself and when you feel that you are capable enough to win the real trading market, step into it and win.
I agree 100% that you SHOULD open a demo account a step into the "real" deal only after you had some positive experience. Getting income some a noticeable amount of time, the problem is that no matter how hard you try, you will never get the same experience, feeling and conditions as live.
I traded demo mostly to learn the platform in details, then started live with micro account and begin with a loss.
 

nalu

Confirmed ProfiForex Representative
Sep 3, 2014
59
1
17
Mini account in forex requires small amount of capital as little as $250 to get started. With mini account a trader can customize the trade and and have greater control of risk . Mini account is mostly ideal for beginners.
 

Rambo35

Confirmed PaxForex Representative
Apr 22, 2013
909
24
32
Canada
I do agree with you that new traders should use a mini or micro trading accounts for their learning and getting experience. In my opinion this is the only good way for developing working trading strategy. All those who think that they can learn from demo account they are just wasting their time.
 

triplet

Active Trader
Oct 7, 2014
101
4
27
A mini account is ideal for beginners because you can deposit little amount of money and it can be easily managed there by reducing the amount of money at risk.
 

fxapex

Active Trader
Jun 7, 2013
258
13
29
mini or macro accounts are good for new traders although they can get the market experience by opening a demo account too.
 

joescholz

Banned
Aug 25, 2014
45
5
0
The two accounts are virtually the same, the major difference is the minimum capital base needed for starting each of the accounts. For micro account, you need very little amount to start up, as low as $1 for Profiforex and similar platforms or $5 for Oanda; while mini account, you may need up to $1,000 to maintain the account.
 

FlexiPip

Banned
Mar 25, 2015
2
0
0
Its most judicious to start trading through mini or micro accounts.Better still to paper trade or demo trade.

Demo trading helps traders practice with live market data while the money is only unreal.

Sure demo account is first step. But when u start real one its better to choose Micro. I did it.