Minimum Deposit Online Brokers Trade Accounts

If you are a gold trader wanting to open a real account and you are doing some research online to find out 1 or 2 things before opening, then you have come to the right training site.

Opening a live account is much different than opening a demo trading practice account. First as a gold trader you do not have unlimited money, maybe you only have $1000 dollars or $5,000 or $10,000 or you're rich and have $50,000 to open one and start with.

First thing you need to choose is the gold leverage you'll be trading with, if you are good in xauusd you as a trader can choose 100:1 xauusd leverage if not then choose 50:1 leverage if you have not practiced with a demo then choose 10:1 xauusd leverage. The other thing is that even though you choose 100:1 xauusd leverage for your account: this doesn't mean that you'll trade with all the 100:1 xauusd leverage, you'll only use 5% of these leverage and only open trades with a maximum of 5:1 xauusd leverage. The remaining leverage will be used to maintain what is known as free margin; money required by a broker so as to maintain your open positions.

The other thing to know is what type of account you're going to open, depending on your capital that you want to begin with:

If you have $1000 or less

Open a micro account - with $1000 dollars it's best to only transact and trade with micro lots position sizes, try and forget what your online trading broker tells you, anything that is bigger than the micro lots positions will only increase your market trading risks to the levels which you as a trader don't have enough trading capital for - Minimum Deposit Brokers Trade Accounts. If you want to keep your money & make profits with this micro account trade on micro lots.

If you've got $10,000

Open a mini account - with $10,000 you as a trader can open a mini account & transact only mini lots. Trading mini lots on a $10,000 capital is enough capital to allow you to trade and make trading profits without taking on too much risk.

If you have $50,000 dollars or more

If you have $50,000 dollars or more then you've got enough capital to open standard lots, & you as a trader can open a standard account. With $50,000 dollars then your capital is enough to transact the standard contracts without much risk to your capital. However, ensure that you as a trader have read this guide: xauusd money management and gold money management methods.

The other thing to know is that to open a live account you have to send to send to your broker a copy of Government Issued ID card and a copy of a utility bill that is showing your physical residence address. Some traders are surprised when asked for these docs, but all traders send them before opening their account, it's a requirement by all regulators that requires regulated brokers to get these documents before accepting a deposit from anybody. Also make sure you select a regulated broker that way your money is safe.

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Minimum Deposit Online Brokers Trade Accounts