Need info. for mini account broker
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Thread: Need info. for mini account broker

  1. #1
    Hello Guys.

    Can anybody inform me? What's mini account? pardon my ignorance.
    What's spread?
    I'm currently sign up FXCM they do have great mini account spread? OMG. . Confuse. .

    Any aid! Need some light .
    I'm planning to join James16 group and also to learn how transaction in Foreign Exchange.

  2. #2
    Mini Account
    Together with min-account, you can play little (minimum around a dollar a pip), lower minimum account size.
    With routine account, you play around 10 dollars each pip minimum. Require more funds in your account.

    Spread is the price difference between buy and sell. For instance, EUR/USD includes a spread of 3 in FXCM. So the price between buy and sell will be 3 pips (Buy: 1.1903 Sell: 1.1900 or Buy: 1.2003 Sell: 1.2000).

  3. #3
    Hello SurfingWave and welcome.

    In a mini account that the value of 1 pip is around 1 dollar (it depends upon which currency pair you exchange ). At a account it is around 10 dollars.
    At a mini account it is possible to begin with a little balance as low as 300 dollars but I would not recommend that little.

    As you're new and asking these kinds of questions I suggest you first try a demo account in which you do not use real money. This will let you practice. Assessing and attempting the trading ideas that will start to flood your egy will take quite a while. Think in terms of months.

    The spread would be the cost of making a trade. It goes to the broker or coping desk in which you own your account. You will see, when you receive an account set up that there is a Buy and Sell or some possess Ask and Bid price for each currency pair. The gap between the B/S or A/B is that the spread. For instance with many accounts that the pair Euro / Us Dollar has a spread of 3 pips. In order for you to earn any money, the pair must move in the direction you selected, buy or sell, more than 3 pips.

    I'm sure a lot of folks on this thread will probably likely be along soon to help you out more. Keep asking questions.

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