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A Forex micro account allows beginners and retail traders to engage in foreign exchange trading using smaller trading sizes. A micro account's smallest contract also called a micro lot is a preset amount of 1,000 units of currency or one-hundredth of a standard lot. Forex traders wishing for greater sizes can also trade in mini lots and standard lots
A micro account is a common type of account that allows retail traders to access the Forex market. This type of account is usually used by beginner traders but can also be used by experienced traders to test out strategies in real market settings. Forex micro lots are equal to 1000 units of base currency. A standard account lot is equal to 10 mini account lots, which equals to 10 micro account lots
While micro accounts are geared towards ordinary retail traders, standard accounts are usually used by large traders and those hoping to make a living or significant income through Forex trading. Depending on the type of leverage that an investor
wants to use immense games can still be achieved through a heavily leveraged micro account. These accounts help beginners get a handle on trading and become exposed to market volatility all while learning the basics of risk management. The main reason that investors open micro accounts is that it affords even small scale retail traders the ability to trade like professionals
A prospective trader can buy and sell Forex pairs the exact same way as anyone that is using a standard account but with a much smaller equity stake. Most micro accounts do not have minimum deposits and even if they do it is usually a very nominal amount. As with all types of accounts, the minimum volume that a trader can transact is one lot
If you are not ready to make a big deposit micro account is the best choice for you. An intermediate between a demo account and the big leagues, micro is designed for traders who want the real experience without making big deposits
The micro account offers enough time to learn trading tips and improve trading skills. It allows studying trading without risking too much money and with less investment
Mini lots are an exemplary way to trade if you want absolute control over your risk. Micro accounts allow Forex traders much greater flexibility in what they trade & its cost
Most traders choose to use micro accounts because the brokers offer more leverage when you trade in mini lots. This makes it less risky for the trader and also lowers the trade amount
The advantage of Forex micro account is that it is more safer and less risky as you have greater control over your investment and also allows you to diversify more easily
Since beginners is mostly afraid to take a risk and trade with a hefty amount of money. Micro accounts allow everyone to start trading with a minimum initial deposit
Micro accounts are excellent to boost your trading knowledge with trading tools and expert market insights offered by Trading Club. It offers an opportunity for strategy building
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