Can You Start with $500 for Mini Account?
For traders wanting to begin xauusd with $500 dollars, the Mini account option provides them with best account type option - Open Account with $500 - Open Live Account with $500.
The Mini account is a account type where the traders open trade transactions using Mini lots, the Mini lots are equivalent to one tenth of standard lot. This Mini lots are fraction of standard lots. Traders trading using the Mini Account can make a small deposit for example $500 dollars deposit and use leverage provided by Mini account to trade the Mini lots.
For example, with the leverage ratio of 100:1, a trader can borrow $100 dollars from their broker for each $1 dollar in their account - meaning if they have $500 in their account - they can borrow $500*100:1 leverage = $50,000 dollars after leverage. Traders then can use this $50,000 dollars in their margin account to open and trade Mini lots.
To learn and know more about leverage and xauusd margin account - Study the following tutorials:
