A Mini account supports mini lots. These lots are worth $10,000 each. Mini accounts usually accompany Standard accounts and they target new traders. Micro accounts take this approach a step further. They support micro-lots of $1,000. Such accounts are even more affordable than the Mini ones. Like the Minis, Micro accounts target beginners as well. In this article we will see what a lot in forex is and how a lot size in forex can be classified. For instance there are different lot sizes in forex, each of them with a different value. When trading, each selected lot size in forex involves a different amount of money. This can range from a micro lot which is equal to 0.01, to a standard lot (1). Forex Mini Account: A type of brokerage account that is used by beginner traders looking to enter the foreign exchange market. A forex mini account allows the investor to take a smaller position ... Margin is the amount of a trader’s funds required to open a new position. Margin is estimated based on the size of your trade, which is measured in lots. A standard lot is 100,000 units. We also provide mini lots (10,000 units), micro lots (1,000 units) and nano lots (100 units). The greater the lot, the bigger the margin amount. If you are a newcomer to Forex trading, looking for a Forex broker in Kenya might not be the best decision for you at an early stage, as there is not a wide choice of licensed Kenya brokers. What is usually advised is to do at this stage is to start trading with international Forex brokerages, which offer good terms for beginners, like IQ Options that you can check out at the link below. Since the time FBS first started operating a few years ago, it has won numerous awards like for the ”Best mini Forex-Broker” back in 2010 and then in 2011. It also won the ”Fastest growing Broker Asia” award, the ”Best Platform MetaTrader4” and ”The Best Forex Broker Asia” in 2012 and then 2014. Micro lots, of just 1000 base currency units, as well mini and standard lots are available on all account types. Spreads & Commission . The Standard Account, the Cent Account and the Stock CFDs Account at FXTM all come with zero commissions, floating spreads and instant execution. Most of FXTM’s accounts like the Standard, the Cent and the ... One micro-lot is a hundredth of a standard lot, or 1,000 units of a currency. Despite its reputation, a micro-Forex account can be very useful even if you have enough trading capital for a standard account. It is much easier to implement conservative position sizing techniques with micro-lots. Some trading strategies require simultaneous creation of tens of market positions; in this case micro ... Some forex brokers will allow you to trade mini-lots that contain of 10,000 units and even micro-lots that are just 1,000-units. REMEMBER: EURUSD currency pair LOT size Definition Equivalent in USD; 1: Standard Lot: 100,000: 0.1: Mini Lot: 10,000: 0.01: Micro Lot: 1,000: In practice this means that the minimum volume of your contract must be 100,000 x the current purchase exchange rate. Say ... Micro Lots. A micro lot is 1,000 units of the base currency and is usually the smallest position size you can trade with. If you trade one micro lot of the EUR/USD, the pip value is always $0.10. Mini Lots. A mini lot is 10,000 units of the base currency. If you trade one mini lot of the EUR/USD, the pip value is always $1. Standard Lots
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