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Forex Micro Accounts

Forex Micro Accounts

Some forex brokers are now offering Forex micro accounts, which allow traders to trade in much smaller increments. A micro lot is 1,000 units of the base currency where a standard is 100,000 and mini is 10,000.

Micro accounts are currency trading accounts that allow for trading to be done in increments of 1,000 units. They often have an upwards limit on trade size and account size. You can find a list of some of the currency brokers that have micro accounts here.

Forex micro accounts are most appropriate for traders looking to trade in smaller lot sizes with less of an investment. It is also a great way to learn about the currency market without having to put up a large initial investment as many brokers dealing in micro accounts allow them to be opened with less than $100

Benefits of Micro Accounts

Demo trading is a great way to learn about the currency market, but some of the psychology of trading is missing as real money isn't being risked. Micro accounts are a great way for traders to be exposed to the emotions of trading with actual money while limiting some risk by only opening a small account.