Hello All
I was just wondering if there is a difference in set up of a standard account to a micro account. I want to open a micro account with £1000 and the Forex accounts I’ve been looking at are all say you cant start them with as little as £50. Obviously I’m currently trading a demo account and finding profitable trading styles. Thanks for your time!
What exactly you mean? you want to open a micro account starting 50£ or 1000£ …
I want to open an account with £1000. I just want to know if there is a difference in the set up between a mini account or a standard account, ie, is it the same account with different amounts or are they difference set ups. Apologies, my initial question wasn’t very clear.
Standard and Micro Accounts are handled identically.
Some brokers have different spreads for micro accounts though.
Many offer micro accounts for balances below 1,000 currency units only; once a balance of 1,000 is reached, the account is automatically being ‘upgraded’.
Make sure about spreads/commissions, maximum permissible balance, and other (if any) regulations for micro accounts before actually opening one, to avoid unpleasant surprises.
Cheers,
P.
It depends on the broker but here is some diffrences between mini/standard :
-standard accounts your trading lots 100k while on mini accounts your trading mini lots 10k .
-standard accounts you can trade CFDs and Stock Indices.
-some brokers offers high leverage on mini/micro accounts and low leverage on standard .
Thanks for the prompt input. It’s just one of those stupid questions that gets me. I’m just about through the school of pipsology and i’ve been trading a demo account for about a year. this website is superb and has given me so much info. so thank you all for your help.