The Accounts Forex Brokers Offer

Posted by admin 28/10/2013 Comments are off 813 views

Forex Brokers Accounts

This article looks at the accounts that you can get from forex brokers.

There are a number of different accounts that forex brokers offer.  When you look at the different account you have to consider a number of different factors.  The first factor is the initial deposit that you are going to have to make.  The second factor is trading that you will be able to complete with the account that you are getting.  The third factor is the leverage you can get with the account and the last factor is whether or not you are going to be trading yourself.

The Initial Deposit Forex Brokers Require

The first point that you have to consider when you look at the accounts that forex broker’s offer is the initial deposit.  The initial deposit will not only help you trade, but can also tell you about the account you are going to be opening.  The higher the amount the more likely you are to be opening a standard trading account.

The standard trading account will need the highest amount in terms of the initial deposit.  The mini account is the second most expensive account that you are going to be getting.  The cheapest account that you can get is the micro account.  There are a number of managed accounts that you will also be able to get.  However, these accounts generally ask for a much larger deposit than any of the other trading accounts.

The Trading that You Can Do

When you look at the trading that you can do you need to consider this in terms of the lots you can use.  It is possible to use any type of trading on any of the accounts that you can get.  However, the lot sizes that you are able to use will vary depending on the account that you get.

The standard account offers you the use of the standard lot.  This is the largest lot that you can get with a pip value of $10.  This offers you the highest potential profits, but also the highest potential losses.

The Leverage that You Get

The leverage that you are able to get with the account will vary depending on which account you are using.  Of course, there are some brokers that will offer you the same leverage across all of the trading account.  However, there are others that will vary the leverage you get depending on the size of the account.

The standard account will generally have the largest amount of leverage on offer.  The micro account will have the least.  This is due to the small amounts of capital that you need to open the different trading accounts and how this affects the risks that you face.

Active Trading

There are many traders who want to make money on the forex market, but do not want to trade themselves.  These traders will need to look for forex brokers that offer them the managed trading accounts or accounts that can be linked to automated systems.  When you do this you will be able to make money from the market without having to actually trade on the market.



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