Top 10 Reasons To Open FOREX Mini Account
1. Great for new investors- A Forex mini account is ideal for many new investors, because of the smaller account requirements and all of the advantages that this type of account can offer.
2. Lower deposit amount required- Global Forex trading with a mini account means that there is less capital needed to open an account. In many cases you only need two hundred and fifty dollars to start this account type.
3. Smaller trading lots available- The mini option allows you to trade in smaller lots, one tenth of the regular lot size. You do not have to downsize though, and can choose to trade regular lots as well.
4. Free trading platforms- A Forex mini account offers a free electronic trading platform, the same platform used for regular accounts.
5. Trading software programs available- Forex trading software can be used for mini accounts as well as regular accounts. This software is available in numerous programs, so it should be possible to find one that works with your goals and strategies.
6. Leverage- Leverage is used with a mini account in the same way that it is with a regular account. This can be a bad thing as well if the market moves negatively, because the losses can be multiplied as well as the earnings.
7. Multiple lots can be traded at the same time- A Forex mini account does not limit your trading ability at any time. It is possible to have numerous trades going at the same time.
8. Greater risk customization- Whether Forex day trading, swing trading, or other strategies are used a mini account can allow for greater risk customization. This can help limit your losses.
9. Better risk control- A Forex mini account can trade in smaller lots, and this offers better risk control because there is less market exposure at times.
10. Almost all the advantages of a regular Forex account- Automated Forex trading can be used with a mini account, and almost all of the other benefits of a regular account are also available as well.