What is the Forex Trading Minimum Deposit for Mini Account?

A Mini Forex Account is an account that allows forex traders to make trades on the forex market using mini lots. A mini contract or a mini lot is equivalent to $10,000 which is one-tenth that of a standard contract - Best Forex Account for Beginners. Forex trading brokers offer mini contracts & mini lots in forex trading as a way to attract forex traders who do not have a lot of capital - as the minimum required starting capital for a Mini Forex Account is about $1,000 USD

Mini lots are similar to standard contracts in forex trading; however, forex mini lots are traded in lots of 10,000 units of currency rather than 100,000 units. This lowers the initial deposit required to open a Mini Forex Account and offers better risk management for forex traders without a lot of capital.

This Mini Forex Account is recommended for those online forex traders with only a few thousand dollars as capital.

If an exchange rate for EURUSD is quoted at 1.400, then the smallest transaction size available in a mini forex account is worth $14,000 used to buy 10,000 EUR. With leverage of 100:1, this is only $140 of your invested money.

A Mini Forex Account is suitable for equity balances between $5,000 and $10,000 - Best Forex Account for Beginners. The forex trade mini lots are smaller so the traders without enough capital to open standard contracts have better money management for their equity balance.

For Mini Lots - Minimum Price Movement of 1 pip = $1