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There is a trend of brokers offering increasingly smaller accounts to new FOREX traders. Until recently, unless a trader had at least $20,000-$30,000 in their account, he or she simply could not enter the market.

Today, an investment in FOREX need not break the bank. There are smaller accounts, called mini accounts and still smaller micro FOREX investment accounts now available. Standard size accounts generally are $100,000 or more; mini FOREX trading accounts can be opened with deposits from $10,000 or more; micro accounts are generally offered for deposits of $1,000 and up. Some brokers offer trading accounts with as little as a $50 deposit.

For the mini or micro account trader, lot size changes, too. Instead of trading in lots of 100,000 units, traders use 10,000 unit or smaller lots to conduct transactions. These smaller account sizes allow the new trader to get his or her feet wet without the huge risk. Pip value varies, depending on lot size. A Pip in a standard account is worth $10 while a Pip in a mini FOREX account is $1. Micro accounts may even be smaller.

The small FOREX account holder will also find that leverage is more risky. If a trader decides to utilize leveraged capital to purchase mini-lots, a slight shift downwards could prove to be devastating. This is because foreign exchange movement is usually measured in much higher units than mini FOREX accounts are able to handle. In other words, if a currency moved only slightly on a regular scale means that it will move several times more for the mini or micro account trader.

FOREX investing can be a tricky proposition, especially if starting out with a much smaller amount of capital than the standard. The same currencies are traded for the same prices, but in much smaller quantities. Those with money in mini foreign exchange accounts need to be much more conscious of where the market is heading in order to fend off any crippling development that could be on the horizon. It is also a good idea for the smaller FOREX investor to stick with the major currency pairs in order to get a better feel for the marketís fluctuations.

Market Traders Institute has been the world leader in FOREX education for more than fifteen years. We now proudly offer the first complete FOREX college credit recommended course specifically developed for the student who wishes to earn college credit and earn a trade at the same time. Call (866) 661-4684 to speak with a FOREX education specialist.

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What is the Forex ?
What is Forex
The word 'FOREX' (or FX) refers to the foreign exchange market. This is the market involved in trading currencies between countries. When visiting another country, you might exchange your currency for the local currency.
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