Forex trading the advantage of opening a Forex mini account
If you want to learn more about real-time Forex trading but are not willing to spend thousands of dollars to do so, then a mini Forex account is for you.
Using a mini account, you can easily enter the world of Forex, participate in the trading activities using several Forex trading methods, and experience reaping the profit of your investment in no time. In addition, a mini account lets you trade in mini lots several times, unlike when you have a regular account where you’re usually restricted to trade only one currency pair. The mini account allows you to trade up to 10 mini accounts, which means a better trading experience.
Suppose you’re a new investor and you’re not willing to take a huge risk or have limited capital to take on a regular account. In that case, you can still experience all the wonderful benefits of Forex by opening a mini account.
Most superior advantage of a mini account
One of the advantages of a mini account is that it can be opened easily because of its smaller opening cost compared to regular account which is 5 to 10 times the cost. A mini trader can usually open an account for as little as $10 to $250 while the regular account often costs around $1000 or more. Since the investment cost is lower, the mini account involves less risk than any other accounts.
What you need to avoid?
Don’t mistake a mini Forex to a demo account because they are entirely different from one another. The demo account serves as a training ground for beginners, and it only uses virtual money. In contrast, the mini account works real time using different Forex trading methods and is exposed to every possibility.
To simply put, a mini account is a real account. Although the amount is usually small, it still possesses all the benefits and features of a regular Forex trading account at virtually less cost and less risk.