Forex Blog : Are Micro Accounts For You?

Forex Blog : Are Micro Accounts For You?

This forex blog article is going to help explain what micro accounts are, as well as if they will help you with your forex trading tips. Micro accounts are what most new traders opt for, and I believe that micro accounts can be very good for new traders. However, it can also be very dangerous.

Our forex blog ‘s definition of a micro account is any account that contains 1000 units of a currency. This is pretty standard for new traders because of the small start up capital needed. However, as with all forex trading advice, we must highlight one point. Forex, in its nature allows you to trade on margin and leverage your capital to the extreme. Because of this, we highly urge our user’s to practice caution with this.

Micro accounts are the smallest of the 3 generally accepted accounts. Micro accounts are the first start to any forex trader. The next two levels are: Mini accounts and standard accounts. For our forex tips though, we do think that all beginning users should stick to micro accounts.

Our forex blog also wants to drive home another point. We believe that micro accounts should not be the first step in any forex traders move. We have driven home the fact that there are always great mock accounts to use before you actually deposit your hard earned money to really get some good trading experience.

Our forex blog will also say this. Although a “micro account” may sound small and may not sound that great, however if leveraged correctly, traders can make quite a bit of money. So although it might be pegged as the smallest forex trading account, it is by no means a waste. Micro accounts can make you hundreds of dollars if leveraged correctly.

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