Micro account forex broker

Micro accounts are one of three categories of forex trading accounts, the others being mini and normal accounts. A trader can use a micro account to trade with a contract size of 1000 units of currency. This form of trading account is mainly used by new traders since it allows them to play the forex market without putting a large amount of money at risk. Forex broker with micro lots Traders and brokers eventually learned that small traders and mini accounts could not trade sustainably and so brokers eventually created two additional account types: the now common “micro account” (1 pip = $0.10) and the still uncommon “nano account” (1 pip = $0.01 or 1 cent). With these smaller account types, traders with less than $1000 could trade with more reasonable money management methods (such as the 2% rule). Once brokers started offering such accounts in response to increased demand, they began to set the standard for what smaller clients began to look out for in a broker.

Start trading the markets with a minimal deposit Extra Factors to Consider When Choosing a Broker Micro accounts are handled the same way as Standard accounts, however, Forex Micro vs Standard accounts are different in the size of the lot; instead of trading full units or lot, you trade micro-lots.

A forex micro account allows beginners and retail traders to engage in foreign exchange trading using smaller trading sizes. A micro account’s smallest contract, also called a micro lot, is a preset amount of 1,000 units of currency, or 1% the size of a standard lot. Why Open a Micro Forex Broker Account First There is an endless number of factors that all contribute and influence the prices in forex trading (i.e. currency rates) daily, but it could be safe to say that there are 6 major factors which contribute the most and are more or less the main driving forces for forex trading price fluctuation:

Volume is expressed in lots, so the number of lots one trades is directly proportional to the risk associated with that trade. The bigger the volume traded, the bigger the risk, but also the bigger the potential reward.  Traders therefore need to find the right balance between the volume to be traded, or the lots number, and the size of the account. Balancing these two is part of a sound money management system that should be followed by all traders, no matter what the financial product being traded. Standard Forex Account To start trading forex in India, you need to follow a few steps. Firstly, you need to select a reliable forex broker who can offer you a trading platform that suits your trading style, and meets your risk management needs. Secondly, you need to make sure you have a good understanding of the market and the currencies you wish to trade. Use reputable sources such as financial news and analysis outlets to stay informed about market trends and expected movements in currency prices.