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Thread: Mini Account vs Micro Account

  1. #1
    Hi Friends

    Can I just confirm with you about lot sizes?

    FXCM provides two forms of account: Mini (10k lots) and Micro (1k lots)
    http://www.fxcm.com/standard-compare-accounts.jsp

    http://www.fxcm.com/
    http://www.forexmicrolot.com/

    Seemingly, the Micro Account has tighter spreads compared to the miniature since they eliminated features such as customer services etc..

    So technically speaking, should I trade a 30k size lot onto a Micro, it is going to cost me even lesser than when I trade a 30k lot onto a Mini. Am I correct to say this?

    I am too utilised to trading 10k-30k lot size so I am not likely to trade 1k-3k lots on the Micro.

    Thanks!

    Asyraf

  2. #2
    1k = 10 cents / pip = 1 micro lot. 10k =1/pip = 1 miniature lot or 10 micro lots. 100k =10/pip = 1 standard lot or 10 miniature or 100 micro lots. Micro, mini, and standard accounts all allow you to perform $10/pip. Micro and Mini allow you to perform less which is what most people need to start with. Only the huge dogs open a Standard account.

  3. #3
    Well begin with the smallest potential if you're new to forex, be sure that you experience demo, I began a micro account together with hotforex before I went premium/standard decades later. Just make sure to mange risk correctly. Dont go crazy.

  4. #4
    I started my trading via micro afterward miniature then ECN! In addition, before beginning my micro trading I used my demo for 8 months! Micro account helped me a lot to understand how to check emotions and greed into the live market!

  5. #5
    A mini forex trading account entails having a trading lot that is one-tenth how big this standard lot of 100,000 units. In a mini lot, 1 pip of a currency pair based in U.S. dollars is equivalent to $1, compared to $10 for a standard-lot trade. The demand for micro accounts when trading forex is very full of new traders. Mini and micro accounts have remained an essential part of the forex trading business, and that is the reason why a majority of brokers supply them.

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