Mini Accounts to Trade Currencies

		Learn to trade with our free ebook
		This extremely practical, step-by-step e-book provides a specific technique to trade your mini account. Designed by our team of traders, it shows you precisely when to enter and when to exit a trade, as well as which trades to avoid. It also provides essential money management techniques that every trader should learn. To receive this unique e-book, all you have to do is open a mini account (read the 3 steps below).

Step 1) Open a mini currency account online (click here). Once you click on this link, you will be taken to the online application. Complete the online application and you will be one step closer to receiving your free ebook.

Step 2) Fund your mini account. This is an extremely important step. Until you fund your account and receive your account number, you cannot request the e-book. Don't go to step 3 until you have funded your account and received your account number via email. You will receive your account number AFTER you fund your account.

Step 3) Complete the e-book request form by clicking here. After you have your account number (not your DEMO account number), complete this step. After you do so, the e-book will be sent to you. IMPORTANT: read the e-book BEFORE you begin trading with live money.

CREDIT CARD FUNDING: Want to fund your mini account with a credit card instead? After you submit the online application, you will be provided with instructions on how to do so.

Mini Contract Size

Once you open a mini account, you will trade in mini lots. The size of a mini lot or contract is 10,000 of the base currency. For a standard account (not a mini account), the contract sizes (or lots) are in 100,000 units of the base currency. Thus, a mini contract is one tenth the size of a standard contract.

Advantages of a mini account

A mini account has many advantages, especially the fact that you can start trading with very little money. A mini account trader will enjoy many of the same benefits as a standard account customer, including a free trading software, the same tight spreads, etc.

Trading 10,000 worth of a currency with only $250.

Leverage allows a trader to trade (buy or sell) more currency than there are funds in the account. In a mini account, the leverage is 200 to 1. That means that you can trade a maximum of 200 times the money that you deposit. This figure is extremely high and is much greater than what's available in stock trading. Since each lot or contract is worth $10,000, only $50 is needed in the account per lot traded (1 / 200 of the lot size). Consequently, with a $250 mini account, a trader can move a maximum of 5 total mini lots (50,000). With a $1,000 account, a trader can buy or sell a maximum of $200,000 worth of currencies at a time. Although it is not wise to use all of the leverage available, the greater leverage offered in foreign exchange gives the trader the ability to use it if desired.

Can be used for trading accounts under $10,000

It is true that the lower the leverage you use, the less risk you're taking. If you want to open an account with $10,000 or more, and you trade a minimum of 1 standard lot (100,000), you'll be using 10 to 1 leverage. We don't recommend the use of higher leverage. If your account is less than $10,000 in size, you are and you open a mini currency account, you'll be trading 10,000 lots, which represent smaller increments as far as leverage goes. This will result in greater staying power since you won't be over-leveraging your account with trades that are too large.

Call us at 305-600-4651 or email if you have any questions about mini accounts.