What's Forex Account Types? - What is Forex Trading Account Type?
Forex Accounts Types - Forex Accounts are classified into various different forex accounts types that are suited for different types of forex traders.
The four forex account types are:
- Standard Forex Account
- Mini Forex Account
- Micro Forex Account
- Nano Forex Trading Account
Standard Forex Account Type - standard forex trading account is suitable for experienced forex traders who have an initial deposit capital of more than $10,000. Standard forex trading account trades using forex standard lots. Forex standard lots the profit per one pip is equal to $10.
Mini Forex Account Type - mini forex trading account is suitable for forex traders who want to trade in smaller forex contracts called mini lots instead of trading with the standard forex lots. Mini forex accounts are suitable for investors who have an initial deposit capital of between $1,000 and $5,000 dollars. The mini forex trading account trades using forex mini lots. Forex mini lots the profit per one pip is equal to $1.
Micro Forex Account Type - micro forex trading account is suitable for beginners & it is suitable for forex traders who have initial deposit of between $250 & $500. The micro forex account trades using micro lots which are smaller than mini lots. The micro account trades using micro lots. The micro lots profit per pip for this forex accounts is calculated as $0.1.
Nano Forex Account Type- nano forex trading account is also suitable for beginners and it's suitable for traders who have initial deposit of between $50 and $100. Nano account trades using nano lots which are smaller than micro lots. The nano lots are also called cent lots because the profit per pip for this forex accounts is calculated in cents. Nano forex accounts are also called forex cent accounts.
