What's Nano Forex Account? - Nano Account Forex Opening

There are many different types of forex trading accounts available to anyone who wants to invest in currency market. Forex market is a highly leveraged trading market for speculating on currency valuations. Traders can purchase large amounts of currency units using little capital. However, trading on leverage is very risky and there are different types of Forex accounts available to help investors better manage their risk.

It is therefore important that the trader consider what they want to get out of their forex account, before deciding on the forex account type to open.

Nano Forex Trading Account

Forex nano account use lot sizes of only 100 currency units. These forex accounts are often appropriate for a beginner trader. Risks for this trade size are low and these nano accounts can sometimes be opened with only a $10 minimum balance.

A Forex nano account is generally used by novice traders who wish to experience a live forex trading environment without risking a big amount of money. Nano accounts allow the trader to trade in nano lots. 1 nano lot is one - tenth of a micro lot and one-hundredth of a mini lot.

If an exchange rate for EURUSD is quoted at 1.400, then the smallest trade available in a nano Forex trading account is worth $140 of currency to buy 100 EUR. Nano accounts are generally best suited for forex account balances that are between $100 & $1,000.

Nano account 1 pip = $0.01

What's Nano Forex Account? - How to Open Nano Account