What is Forex Mini, Micro and Standard Account?

Forex Account
Forex Account

Forex Account

In Forex market a trader can open Forex account based on different leverage. There are three types of Forex account:

1. Forex Standard Account
2. Forex Mini Account
3. Forex Micro Account

The table below summaries all the key differences between the three type of Forex Accounts:

Forex Account

Forex Account TypesLeverageOpening BalanceTrade Size
Forex Standard100:1High ~$2000+
Forex Mini200:1Low ~$500+10,000
Forex Micro400:1Lowest ~$100+1,000
Table Comparing Different Forex Account Types

As you can see form the table that the lower leverage accounts usually require more money to open a Forex account. So if you are new to trading and want to invest only a small amount then perhaps a Forex Mini or Micro Forex account is the way to go. However if you are planning to make a living out of trading  or planning to trade full-time then Standard Forex account is the preferred choice over Forex Mini and Micro Accounts.

You can read more on What is Leverage and find out Whether Higher Leverage Helps?

Chris Farnworth is an independent Forex and Commodity trader with many years’ experience under his belt. He travels and works from around the world trading and writing content for various websites and blogs. In his spare time he enjoys scuba diving and surfing.

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