Forex Brokers offering Mini Accounts, Mini Forex Trading Brokers

Saturday, July 7, 2007

Forex Brokers Offering Mini Accounts

As you may know trading mini forex accounts holds many advantages, especially for small sale and less experienced traders. Forex mini accounts have also provided an opportunity to traders whose primary trading area is equities or derivates to come and make profit from forex market; and also to diversify their portfolio to reduce risks.

Now, compared to older days, traders can find an increased number of forex brokers offering mini trading accounts. For some brokers mini accounts have became the primary area of focus and the primary earning market. But still not all forex brokers offers mini accounts and even among mini forex brokers there are large differences in minimum account size, leverages offered, minimum deposit to open account, currency pairs offered and pip spread offered for each currency pairs. There are also differences in the standards and features of forex trading systems and order entry, risk management practices and demo trading accounts offered by them.

An ideal mini forex broker is the one who

Offer tight spreads for currencies as with the standard accounts.
Keeps the contract size (minimum account) for standard and mini accounts in a ratio of 10:1 (eg: $100,000 for standard accounts and $10,000 for mini accounts).
Offers double leverage for mini accounts. Eg : 1% or 1:100 for Standard accounts and 0.5% or 1:200 for mini accounts.
Offers a demo trading account with actual forex trading software.
Offers the same trading software and trading supports as with the standard one.