Forex Mini Trading Account - US$300

The Mini account is designed for those new to online currency trading and those with limited investment capital. There is a smaller deposit required to open a Mini account and trading sizes are 1/10th the size of a regular account. The smaller trade size greatly reduces the risk associated with currency trading. Although the Mini account provides as much leverage as a regular account, clients have the opportunity to take smaller size positions, taking on less total risk. The Mini forex account is intended to introduce traders to the excitement of currency trading while minimising risk.

Develop Trading Skills with the RTTC without Focusing on Profits & Losses

The Mini account can be a useful asset in assisting traders to cultivate a disciplined trading strategy without focusing on P/L. This will allow a trader to practise applying the Real Time Trade Communicator according to the defined rules. When trading larger volumes on the standard account, traders with smaller account balances tend to watch their equity fluctuate and base trading decisions on emotional reactions to these fluctuations. For example, traders tend to resist closing-out trades at a loss, using the rationale that the market will turn around. Traders also tend to immediately take their profits when the market is moving in their direction, rather than maximizing their gains by letting their profits run.

For example, a 20-pip profit on a 100,000 Euro trade is $200. For a $5000 account, this is equivalent to 4% of the account equity, compelling the average trader to take their profit, though the trade has a 100-pip profit potential. On the reverse side, no one wants to realize a $200 loss, so traders tend to hold a losing position until the loss is too much to bear. On the Mini account, this same example would translate to $20, which takes all the emotion out of the P/L, since $20 is insignificant to most traders. A Mini account allows traders to focus on the proper RTTC points, trade signals, and really learn currency trading without paying attention to their $P/L. In the long run, this will lead to more profits and less losses. Until clients are completely comfortable trading currencies on a highly leveraged basis, trading smaller amounts on the Mini forex account is highly recommended.