Starting trading forex while being under-capitalized is improvident. Experienced forex traders believe ‘the more the better’ rule works here. But, even having this in mind, micro accounts’ importance cannot be underestimated, as they are much in demand among new forex traders. And even traders with enough starting capital pay a tribute to micro accounts. It makes it possible to open accounts with low starting capital, but at the same time to be able to diversify more and to use less leverage. Micro accounts imply a super low bar of entry. At micro account trades can be opened in lots of 1/100 of a standard lot, that is, in 1,000 units of currency.
Generally, it is useful to open a micro account once you want to test a certain FX broker’s trading platform, their money transaction speed and customer support with no risk to your capitals.
From a strategic point of view, micro accounts are helpful in testing various approaches to trading. For example, some techniques require simultaneous opening of dozens of market positions; with a micro account it is much easier to properly evaluate size and scale of the positions.
A wide range of Forex Micro Account Brokers, and it is optimal to choose a broker with the best offer that allows trying various opportunities available with the company.
Expert opinion about the best choice of a forex micro account broker is much in demand.