Mini and micro accounts are a very important part of the portfolio of almost every forex broker offering services to private traders. These accounts appear to be a perfect solution to attract novice traders. Forex newbies are willing to try their hand in forex and at the same time they do not want to put their hard-earned capitals at great risk. A mini forex trading account equals to 1/10 of the standard lot size (100,000). This means, 1 standard lot = 10 mini lots. With some brokers it is possible to open a mini account with as little as $250 in upfront capital.
Trading on forex mini account is good not only for learning purposes, but also to diversify the risks, to be more flexible and have a better control of the trading operations. It is possible for a mini account holder to trade more than one lot at a time, that is, for a mini account trader it is possible to trade between 11 and 19 lots, whereas a regular trader should choose either one or two standard lots in the same situation.
What is more, forex traders commonly use mini forex trading to have the extra leverage available, which is possible with a wide range of retail forex brokers. In short, mini accounts offer larger amount of leverage and better risk control.
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