Trading Account Suggestion

There are different types of account types that almost all brokers offer these days. They are for different amount of capital that a broker wants to invest in forex market. Very huge amount of investment require some special services from broker so mainly an account type will depend on your capital invested.

We have to learn how we can increase our trading income and also become more profitable in our trades. This also means that there would be time when our trading will not become profitable to us anymore :)
 
For starter I suggest to use mini or micro account. But if you can afford to invest big without any real problem then you can even use standard account. It depends on many factors of an individual person.
 
For starter I suggest to use mini or micro account. But if you can afford to invest big without any real problem then you can even use standard account. It depends on many factors of an individual person.

When i started doing my trades i was using the Mini trading accounts but then as the time went by i was able to learn more about the Forex markets and as a result i started my trades in the ECN trading accounts :)
 
If you have a less amount to invest in your trading account then you need to open a micro or cent account, it will be best and appropriate for you to trade in such account.
 
If you have a less amount to invest in your trading account then you need to open a micro or cent account, it will be best and appropriate for you to trade in such account.

I would say that the amount of trading funds that we are investing into our trading are very much important for getting success in this field. If we will invest more funds then our trading success will be good :)
 
very nice you told about investment on trading account , for less amount cent accounts are best options they are good for real trading practice. when you had enough practice of money management you can invest a good amount that will supportive for making profits
 
very nice you told about investment on trading account , for less amount cent accounts are best options they are good for real trading practice. when you had enough practice of money management you can invest a good amount that will supportive for making profits

Many trader that are good traders have micro account, they use mini lots and keep on adding positions to increase the lot as price move in their favor. So using a micro account is best.
 
Everyone picks a trading account type based on preference, but I have seen many new traders who open the wrong account type with their broker. What I mean by this is that they open a standard account just because they are able to and I think all broker have their minimum in order to open a standard account set way too low.

I know opinions differ, but I think that you should not trade in a standard account with less then $20,000. Anything below that should be traded from a mini-account.

My suggestion has always been that new traders should start in a mini-account and trade there until they can upgrade to a standard account through trading profits they have earned and not through bigger deposits. In the end each trader needs to decide the right approach, just throwing this idea out there for new traders to consider.


Well not sure if your suggestion is absolutely correct, for example I have both micro and standard accounts on MYBROKER and the only difference between them is restrictions on volume (8 lots versus 60 lots on standard). Rest of trading conditions are the same. So its always better to try from micro account with any amount and ask broker if your funding may be more appropriate for other type of account.
 
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