What are Forex Micro Accounts?

Forex Micro Accounts are forex accounts type where forex traders open forex trades using micro lots. 1 Forex Micro lot is the equivalent of 1,000 Units of the base currency.

The Micro forex accounts allows many retail forex traders to access the forex market because with these micro forex accounts traders can trade smaller forex lots known as micro lots therefore the capital needed to open these micro forex accounts is not a lot as that required for opening standard forex accounts.

Micro lots are equivalent to one hundredth of standard forex lot.

For Micro lots the pip value per trade is equal to $0.1