In addition, the Mini forex account allows traders
to become familiar with the quality and
reliability of the FX Trading
Station.
 $300
minimum account size |
New
FX traders |
| Up
to 200:1 leverage* |
Account
balance is less then 10K |
| 1
pip = $1 |
New
to FOREX |
| Smaller
trade size |
Need
to build confidence |
We believe there is no downside to trading a Mini Account. The Mini account utilizes the same state-of-the art trading software AND offers you the
following advantages:
Ask any successful
trader and they will tell you that the key
to trading success is discipline. Everyone
has heard the expression “cut your
losses and let your profits run” yet
how many traders actually practice this?
Many traders will
hold on to losses hoping it will reverse
eventually, only to see the loss get progressively
larger. These “irrational”
trading decisions are based on emotional
reactions to fluctuating profits and losses
- a common pitfall for new traders.
Losses can AND WILL occur.
A trader's ability to limit his losses
is just as important (or even more important)
then determining entry points.
Because the pip value on the Mini Account is just $1 per pip – traders can focus on developing a disciplined trading strategy basing decisions on pip movement and market conditions.
Consider
the Following Example:
When trading a Mini Forex Trading account,
a 30-pip floating loss is approximately
$30. That same 30 –pip move against
you on the 100K account now becomes a
$300 floating loss. By starting with a
Mini account- a trader loses only a small
amount on every losing transaction making
it easier to stick to a disciplined trading
strategy.
Generating larger losses on
the 100K account can be detrimental to
new traders as the temptation to hold
on to the loss is much greater based on
the size of the loss.
There
is NO MAXIMUM trade volume on the
Mini Forex Trading account. Although
the standard trade size is 10,000 units
– you are not limited to trading
one lot! For instance, you can trade 10,000
units, 50,000 units or 150,000 units.
This means as you become more seasoned and build up confidence you can slowly increase the size of your positions to maximize on your trades. In fact
the trade size of 10,000 units allows
for more flexibility in terms of customizing
the size of your trade. The ability to
customize the size of the trade enables
better risk management.
We recommend that all traders with account
balances less than $10,000 trade a Mini
account. This gives you more staying power
in the market, and the ability to take
advantage of multiple opportunities without
over-leveraging your account. If you over-leverage
your account you will not give yourself
room for error. Even if you are correct
on the direction of the market, minor
fluctuations can generate a margin call
and liquidate a good position.
But don't just take our
word for it. For just $300 you can open
and fund a live Mini Forex account and see
for yourself.
**Source: http://www.nfa.futures.org/news/newsProposedRule.asp?ArticleID=1704
*Leverage without proper risk management, this high degree of leverage can lead to large losses as well as gains.
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Mini Forex Trading Account Details
