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  1. #1

    Differences in trading accounts

    The first thing to do before trading is to pick an excellent forex broker, after that you need to make your first deposit into your account. Mind you, there are different kinds of [Only registered and activated users can see links. ] that might be offered to you by your forex broker. Since it allows traders with different trading capital to open an account and execute their trading strategy with proper risk management.



    Hence it is vital to choose a trading account that will suit your trading capital. Currently, there are three major forex trading accounts:

    1. Standard account – This is the most common accounts used by traders, who has the sufficient capital. One lot in a standard account represents 100,000 units of the currency you would like to trade. Thus, 1 pip move is equals to $10 or whatever your account currency is.
    2. Mini account- This account is best for traders you have less money to trade. This means that any account less than $10,000 is considered a mini account. Thus, one lot in a mini account represents 10,000 units of the currency you would like to trade; e.g. 1 pip equals $1.
    3. Institutional account- This account is preserved for fund managers and corporations. The lot size are the same as the standard account, however spreads are lower due to higher trading volume.

  2. #2
    I agree that traders need to pick the right account type for the deposit size they have. Thanks for sharing this as I am sure plenty of new traders will find it beneficial.

  3. #3
    where is micro account? as a newbie i learn better on micro account than demo account.

  4. #4
    Quote Originally Posted by mumuy View Post
    The first thing to do before trading is to pick an excellent forex broker, after that you need to make your first deposit into your account. Mind you, there are different kinds of [Only registered and activated users can see links. ] that might be offered to you by your forex broker. Since it allows traders with different trading capital to open an account and execute their trading strategy with proper risk management.

    Hence it is vital to choose a trading account that will suit your trading capital. Currently, there are three major forex trading accounts:

    1. Standard account – This is the most common accounts used by traders, who has the sufficient capital. One lot in a standard account represents 100,000 units of the currency you would like to trade. Thus, 1 pip move is equals to $10 or whatever your account currency is.
    2. Mini account- This account is best for traders you have less money to trade. This means that any account less than $10,000 is considered a mini account. Thus, one lot in a mini account represents 10,000 units of the currency you would like to trade; e.g. 1 pip equals $1.
    3. Institutional account- This account is preserved for fund managers and corporations. The lot size are the same as the standard account, however spreads are lower due to higher trading volume.
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  5. #5
    but what is micro account.

  6. #6
    Quote Originally Posted by madelonfx View Post
    but what is micro account.
    As I know micro account using cent which in every 1$ equivalent with 100 cent, so if we making deposit amount 10$ hence in account trading we will look amount 1000 pips and we can start with low capital to start learn trading, but not all broker offer micro account I think

  7. #7
    but what is micro account.

  8. #8
    For beginner if broker offer cent account they can start practice and trade low risk, now many broker also offer low minimum deposit, and we can start with low capital only, as long as we can manage money using good skill might possible from small money then growth to bigger money, but not easy to do this

  9. #9
    Hi,

    For binary, I get my signals from [Only registered and activated users can see links. ]

  10. #10
    Quote Originally Posted by cynthia07 View Post
    Hi,

    For binary, I get my signals from [Only registered and activated users can see links. ]
    I am never trade on binary so far and still trade on forex with using instrument trading major pair
    Today I am trying on audusd and I hope on this pair still continue bullish

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