Forex Mini Lots Or Regular Lots – Both Will Make You Money
How much money you need to make good money in the Forex market? Maybe you will need less than you had imagined. There is a way to start trading forex that involves the use of what is known as mini lots. These are real money lots but they are special because the amount of money you place into them is much lower than a regular lot but this won’t hinder the money making capabilities of your trading efforts.
For example, pips in a mini account are worth just $1 compared to the $10 value of the pips belonging to a regular lot.A mini-forex account will give you lots of just $10,000 which is a value ten times less than the regular $100,000 lots of a regular account. From here you can see that the risk involved in trading a mini forex account is much less than the risk you assume by using a regular account. It is true that you will be earning less money in each successful trade but with diligence and a good system you can grow your money using a mini-account and then, once you have mastered your forex trading system you can easily move to a regular forex trading account.
As a synthesis of what you can expect from a mini-forex account I can say this:
– Minimum required account deposit = $300
– Recommended required account deposit = $2,000
– Traded in 10,000-unit currency lots
– Default Margin: set at 0.5% ($50 per mini-lot)
– Leverage = 200:1
So, next time you hear people talking about mini lots in forex trading this is what they are talking about.