What is Forex Mini, Micro and Standard Account?
In Forex market a trader can open account based on different leverage. There are three types of accounts:
1. Standard
2. Mini
3. Micro
The table below summarized all the key differences:
As you can see form the table that the lower leverage accounts usually requires more money to open an account. So if you are new to trading and want to invest only a small amount then perhaps a Micro or Mini account is the way to go. However if you are planning to make a living out of it or planning to trade full-time then Standard account is the preferred choice.
You can read more on What is Leverage and find out Whether Higher Leverage Helps?
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