Forex accounts

The other way to avoid inadvertently connecting with a fraudulent broker is to proceed very carefully when considering a specialized forex brokerage.

Free forex bonuses

Why You Need a Forex Account to Trade, forex accounts.

Only open an account with a U.S. Broker with a membership in the national futures association (NFA). Use the NFA's background affiliation information center to verify the brokerage and its compliance record. The first is to avoid specialized forex traders entirely and to trade with a general stock brokerage active in the U.S. And therefore regulated by the U.S. Securities and exchange commission (SEC).

Why you need a forex account to trade

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A foreign exchange account, or forex account, is used to hold and trade foreign currencies. Typically, you open an account, deposit money denominated in your home country currency, and then buy and sell currency pairs.

Your purpose, of course, is to make money on your trades. Unfortunately, the majority of beginning forex traders lose money; they generally spend less than four months reaching the point where they have lost so much that they will close their trading account.

It doesn't mean that the forex market is a scam, as some critics have maintained, but forex scams do abound. Making money on highly leveraged currency trades is harder than it looks and, at a minimum, requires developing expertise that many novice traders fail to acquire.

How you open a forex trading account

The requirements for opening a forex account have become simpler since the growth of online forex trading. Today, opening a forex account is almost as simple as opening a bank account.

First, of course, you'll need to find a forex broker. All retail forex trading goes through and is managed by a brokerage. Some may be specialized forex brokers, or they might be the same brokerage you use for stock market investing and trading.

You'll need to fill out a brief questionnaire about your financial knowledge and trading intentions. You'll also need to provide an ID, and the minimum deposit your forex account institution requires. That's it. You're now free to trade.

Incidentally, many forex brokers will take your credit or debit card in lieu of cash. So, you really don't need to deposit any money at all—not that this is a good idea. If you don't have the cash now, how will you pay for losses later? Credit card debt carries high-interest rates.

Forex brokers

One of the aspects of currency trading that makes it riskier than trading in the stock market is that the entire currency trading industry is either lightly regulated or—as with some trades—not regulated at all. A consequence of that is that unless you look carefully into the reputation of the forex broker you select, you may be defrauded. There are two ways of avoiding this.

The first is to avoid specialized forex traders entirely and to trade with a general stock brokerage active in the U.S. And therefore regulated by the U.S. Securities and exchange commission (SEC).

The other way to avoid inadvertently connecting with a fraudulent broker is to proceed very carefully when considering a specialized forex brokerage. Only open an account with a U.S. Broker with a membership in the national futures association (NFA). Use the NFA's background affiliation information center to verify the brokerage and its compliance record.

Even then, it's a good idea to choose a large, well-known forex broker like forex capital markets (FXCM). FXCM—like almost all of the largest U.S. Forex brokers—offers a free practice account where you can try out potential trades without risking your capital. Some other well-known U.S. Forex brokers are citifx PRO, an affiliate of citibank, and thinkorswim. Don't be put off by the cute name, thinkorswim is a division of tdameritrade.

Before finalizing your search, compare commission rates between brokers. Transaction costs are an important factor in the profitability of trading activity.

3 best forex accounts 2021 and how to choose one

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Flexible portfolios

Automated accounts

Withdrawal limitations

Potential of gain

Trading by experts and market specialists

Low risk level

Potential for loss

Upfront requirement of capital

In this blog post, I am going to highlight best forex accounts 2021.

When entering the forex market for trading, you need to open an account with a retail broker dealing in the market. These accounts allow you to conduct trade in the forex market and are called forex accounts.

Most of the traders allow new users the opportunity to open a demo account to understand how markets work. These demo accounts are the first point of contact that a new trader has with the forex market.

Depending upon the trader’s enthusiasm, he or she can learn a lot about the forex’s standard functionality. Thus, getting more equipped for entering the real market.

These forex accounts come in various types. Also, choosing the account type is one of the critical decisions you’ll need to make when entering the world of forex trade.

This choice of forex account is crucial because different account types come with various features. Moreover, different account types accommodate different needs, and you need to discover a forex account that best suits your requirements.

Different account types offer various features according to individual requirements. These distinct features make it essential that we understand different features that different account types have. This blog will take you through various elements of these forex accounts.

best forex trading platform for beginners

3 best forex trading accounts 2021

What are the broad categories of trading accounts?

The forex market is one of the most volatile markets globally. The forex market is different from other markets because it allows individual traders to challenge bug hedge funds and various banks on equal footing.

Irrespective of your trading objective, all you need is a valid account, and you are good to go. There are three categories of forex trading accounts from which you can choose according to your requirements. Let’s look at these accounts more closely.

1. A standard trading account

These types of accounts are the most popular account type famous among individual traders. By getting a standard trading account, you get access to the common lots of standard size. The worth of these standard lots is $100,000.

However, you need not worry about making a $100,000 investment at one go. This trading with a lower amount than the standard lot is possible with the help of leverage. As mentioned above, you only need a $1000 in your margin account to trade a single standard lot.

Pros of a standard forex trading account

High-quality service

Standard accounts require the traders to pay their investment amount upfront. This prepayment of investment makes the trading accounts are special for the brokers.

Considering this, brokers provide exclusive benefits and services to the traders, which might or might not be available with the other accounts.

Potential of gain

Consider that you own a $100 pip, and the market moves by 50 pips in a day. In such a situation, you’ll gain $5000 in one day.

While this size of gain seems unrealistic, but it is true. It is worth mentioning, this size of the exponential increase is not achievable using other forex accounts until you trade with the more standard lots than one.

Cons of a standard forex trading account

An upfront requirement of capital

You need to fund your forex standard account before you can start trading. This upfront requirement of capital is the biggest con of a standard account.

Potential for loss

When you have the chance to cover such a huge amount of profit, there are also chances that you might end up losing such gigantic amounts as well. So, it is advisable to use due caution while trading using a standard account.

2. Mini trading account

Allowing you to deal in lots which are 1/10th the size of a standard account, mini trading accounts as the name suggests is about trading in mini lots.

These accounts are specifically beneficial for those traders who are new to the market and want to experiment to understand the functionality of the market.

Since these accounts are an excellent way to bring in new clients for the firm, most brokers who offer standard accounts also provide these accounts.

Additionally, these accounts are most suitable for experienced traders who have substantial funds to back up their trades.

Also, some accounts are known as micro accounts that allow you to trade in the lots of $1,000 supporting pip movement of 10 cents per point. These accounts are available with an initial investment, which is as low as $25.

Pros of a mini forex trading account

Low level of risk

Because you trade in small lots, the risk you assume is significantly lower than standard accounts. This low level of risk makes these accounts highly beneficial for new traders who want to experiment and old traders who want to try new trading strategies in the market.

Requirement of low capital

Coming with a leverage 400:1, you can get one of these mini accounts with an investment, which is as low as $250.

Flexible portfolios

While you have one big lot of $100,000, the risk that comes with is relatively on the higher end. Mini accounts permit you to own multiple small lots that you can optimize according to your risk management policies.

Moreover, owning five small lots is always better than owning one big lot, at least in most cases.

Cons of a mini forex trading account

The upfront requirement of capital

The mini trading accounts come with capital requirements which you need to pay before you can start trading. These investments can vary from $2,000 to $10,000 from broker to broker.

Potential for loss

While there is potential to gain profit by trading in small amounts, likewise, it also involves potential risk, which can come as a blow to the new traders.

The low reward for the risk undertaken

Because the profit is directly proportional to the amount of investment, the amount of profit that an investor can earn is also low.

3. Managed forex trading account

All you have to do in these types of accounts is to provide investment and portfolio objectives like the goals for profit and risk management ratio.

The fund managers take trading decisions. These accounts are similar to managed stock accounts where stockbrokers make the trading decision on the investor’s behalf.

Additionally, there are two categories of managed forex trading accounts.

Fund pools

In these accounts, your investment is added to a larger pool consisting of money from different traders. Once the trade is undertaken, the resulting profit or loss is divided between the investing traders according to their shares.

Individual accounts

These managed accounts are highly useful for individual traders who do not want to make investing decisions. These types of forex accounts are preferable for new investors who lack knowledge about the markets.

Discretionary accounts

These accounts generally come with a lot of restrictions, including restrictions on the withdrawal of funds. In a discretionary account, you pay the account manager a share of profit for his services of investing on your behalf.

Automated accounts

Providing you with API access makes these accounts highly effective when you want to automate your trading activities. While you can also manage these accounts manually, you can also set your parameters, which will automate the initiation and liquidation of trades.

Pros of a managed forex trading account

Trading by experts and market specialists

These accounts are handled by market specialists who have years of market experience. You are able to trade in the market through their knowledge and get more profit.

Suitable for new investors

These accounts are most suitable for new investors who are just entering forex trading and lack the experience.

Cons of a managed forex trading account

Lack of control

When you go for a managed trading account, you don’t have any control over the investment decisions. All the decisions are made on the fund manager’s discretion.

Withdrawal limitations

These accounts generally come with withdrawal limitations making the funds inaccessible to you at the time of urgency.

Things to remember while choosing the best forex account?

Minimum deposit amount, amount of spread, access to platforms, and leverage are some of the key elements which cause the difference between various accounts.

Let’s look at some of these elements closely.

Amount of minimum deposit

One of the primary differences between different account types is the amount of minimum deposit.

While some brokers offer you accounts with a minimum deposit as low as $1, some brokers require over $500 as the minimum deposit. You must browse your options and discover the broker, which offers an account that matches your budget for a minimum deposit.

Spread

A spread is the amount difference between the asking price of the broker and the bid price. Different forex accounts have either variable or a fixed spread.

It is important to note that interbank rates influence the variable spread and are generally on the lower end. However, the accounts which offer you low spread also have commission charges involved.

Additionally, it is also worth noting that a fixed spread is higher because of the mark-up. These mark-ups compensate the brokers for not charging an additional commission.

While swing traders are least bothered with spread, they can go for both fixed and variable spread depending on their needs. However, if you are a scalper whose trading strategy depends highly on the spread, you might prefer a lower spread.

Amount of commissions chargeable

Commissions refer to the charges that you pay to your brokers for the services rendered. From minimal to high commission fees, there are various types of brokers.

It is for the best for you to find a broker whose commission fits in your budget. Also, low commission charges have a significant impact on your business in the long run.

Additionally, some brokers also offer zero commission forex accounts. These brokers make up for zero commission through spreads, which are marked up. An optimum combination in the best accounts is to have low spreads and low commission fees as well.

Availability of leverage

Leverage refers to the facility of availing additional funds from your broker, which allows you to take the positing in the market, which is otherwise impossible. It is important to note that leverage is like a double-edged sword.

While it allows you to increase your profits significantly, it can increase your losses significantly as well.

In case your trading objective needs some amount of leverage, make sure to discuss this with the broker before opening up an account.

Consider someone offering you a 3:40 leverage account. It merely means that you can get a leverage of $40 for every $3 that you invest.

Different platforms for trading

There are various platforms that you can use for trading. The most common of all the platforms is metatrader, which is accessible by almost every account.

But if you need a specific platform to trade, make sure to find an appropriate account that allows you access to that particular platform.

Availability of trading instruments

Forex is not the only instrument in which you can trade. There are various other instruments like commodities, stocks, metals, cryptocurrencies, indices, and bonds, to name a few.

In case you are interested in trading into other instruments, you need to choose an account type that allows you that facility.

The model of execution

ECN broker model, market maker model, and STP execution are some noteworthy market models you need to be aware of. These different models provide you with different execution-style and need to be chosen carefully.

ECN broker model is the most popular execution model in the market because it allows for the most favorable conditions for trading, followed by STP and market maker.

An ECN or an STP broker forwards your requests directly for execution to the liquidity providers allowing the minimum amount of slippage in the process.

However, it is generally known that a market maker broker might conflict with your trading style.

Availability of additional features

In case you are looking for particular special features or just want to have something extra, you must discuss it with the broker.

While most of the brokers offer similar additional features across all types of accounts, you can still make special requests. Considering the size of the investment you plan to make, and the broker might oblige you with your request.

These additional features might include webinars and seminars, market analysis, educational material like books and videos, and trading tools, to name a few.

Availability of other accounts

Most brokers offer demo accounts to the newbies who are just beginning to explore the forex market. These accounts have a complete setup with virtual money and real-time market data to make you accustomed to real-market trades.

Additionally, if you have a special requirement like a muslim account to comply with sharia law, you can also discuss it with your broker.

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Faqs | best forex accounts

�� what are the minimum investment that you need to open a forex trading account?

Different forex trading accounts come with varying requirements of an investment. You can open a live forex account for as little as $25 through some brokers.

��‍♂️ is it safe to go for managed forex accounts?

If you are considering investing in the forex market, you need to understand that there is nothing called as safe. The forex market is highly volatile. How much profit you gain depends on the experience of the individual who handles the funds.

��‍♀️ what is the most suitable account type for a beginner?

The foremost recommendation for a beginner is to open a demo account to understand how the market actually works. In case you want a live forex account, you can go from a mini account to a managed account, depending on your preference. You can either learn from the first-hand experience by investing small or benefitting from someone else’s experience and expertise.

�� is it best way to manage multiple forex accounts at once?

Since the forex trading is volatile type of trading and the market keeps fluctuating all the time, it is not good practice to use multiple forex accounts at once.

��‍♀️ how many forex trading accounts can you have at once?

You can have any number of forex accounts at a time, but the experts generally prefer to have a maximum of 2 forex accounts.

�� which are basic forex trading account?

The basic types of forex accounts are: cent account mini account micro account nano account

�� which are best sites to open forex acount?

Some of the best websites to open your forex account are trade12, metatrader4, avatrade, etc.

�� is demo forex account legal?

Yes, the demo forex account is absolutely legal and it is generally for beginners who are new to trading and want to learn it.

�� how long should I trade in demo mode in forex before I start the real trading?

There is no specific time for which you need to trade with a demo forex account. Sinv=ce, demo account is for learning trading and does not involve any real money, the plans you used in the demo account may not necessarily work in real account. So, use a demo account unless you totally learn trading and are willing to risk money.

�� can I trade forex with $10?

Yes, you can do forex trading with as low as $1. You just need to find a proper broker within your budget.

�� do we need forex broker?

We need a forex broker to open an account in forex for trading purposes. This is the first step to opening a forex account

�� what position size is optimum for $500, $1000, $5000, and $20,000 forex accounts?

It is totally up to you, how much money you want to invest in. But since the forex trading is extremely volatile and dynamic, it is not a good practice to invest a lot of money.

��‍♀️ what is difference between micro and standard forex account?

The standard forex account requires a minimum deposit of at least $500 whereas the micro forex account does not require any minimum deposits.

�� what is difference between micro and mini forex account?

The micro and mini forex account both are for smaller units. These accounts are used by beginners who are new to trading. Mini account starts with 10,000 units whereas micro account starts at 1000 units.

�� which forex account brings more profit?

The standard forex account that requires a minimum investment of 100,000 units brings the most profit of $10.00/pip.

�� does demo forex account bring us profit?

The demo forex account is for learning purposes and does not involve any real money. Hence, it does not bring profit in terms of real money.

Conclusion | best forex accounts 2021

You need to factor many elements while choosing the most favorable account type. Trader’s experience, management of the account, and the number of funds the trader wants to invest are some factors that highly impact this decision.

While you can choose a demo account to get the hang of the market or try new trading strategies, taking a demo account is always wise.

These demos allow you to understand and browse various features that the chosen account is offering.

By doing so, you can get a better understanding of whether the account in question fits your needs or not.

Additionally, if you are a seasoned player in the forex market, you will already know what features you are looking for. If that is the case, you can directly discuss with a broker your requirements.

Generally, these brokers will have tailor-made accounts that will fit your needs. However, if you feel that the feature is missing, you can implore the broker to provide you with the additional feature.

Brokers generally special requests from the customers if the amount of investment that a trader plans are substantial.

Choosing the perfect forex account might become a daunting task if you don’t know what you are looking for. So, before you go out to finalize a forex account, make sure that you have done your research.

You need to be aware of your needs and requirements to discuss it with your broker. It would help if you did a thorough cost-benefit analysis to find the perfect trading account for you, considering there are many available options.

Top 10 unlimited forex demo account for 2021

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When you decide to begin in the world of forex, demo trading accounts are an important first step that you may decide to take when trying to choose from some of the best forex brokers around.

Starting out with a demo trading account is not just for beginners though, this is something you can use as an experienced trader to get to know more about almost any broker, how they operate, and the trading platforms that they offer.

Throughout this article, we will explain what are the forex brokers where you can get the best demo account with NO time limitation and how you can get the most out of your demo trading account with all of the top forex trading brokers in the industry.

What’s a demo account?

If you are not already aware, demo trading accounts are offered by almost all of the top forex brokers. This is a risk free way in which you can learn more about every broker as a forex trader or if you are involved in CFD trading.

These accounts are offered on a trial basis typically with an amount of virtual money that you can risk. This prevents you from possibly losing your own money while you get to know the trading platform of each broker in more detail. These demo trading account trial periods may be limited in terms of the duration you can use them, or they may also be unlimited. This decision is up to the particular forex broker.

As well as risk free trading in which you cannot lose your money, it is also a chance to find out more about the regulation of online trading under each authority and within the cfd trading or forex broker. This can be helpful in knowing what kind of leverage is available as well as other things such as how account types and funding methods work.

Within this top 10 demo trading account piece, we have collected a range of top brokers who offer demo trading accounts which do not expire, and who also provide access to a large selection of account types for you to choose from as well as trading platforms like the well-known MT4.

This, along with dealing in a range of assets and CFD trading in the likes of cryptocurrency and even copy trading demo accounts, can really help you to better understand the industry as a forex trader and the direction you would like to take.

Top10 unlimited forex demo accounts

The following are 10 of the best brokers offering exceptional unlimited demo trading accounts that we have reviewed and feel would be the best choice in your search for a well authorized and regulated broker.

1. XTB

Looking at XTB, the broker offers both standard and pro accounts for you to choose from as a trader. Both of these account types do come with a demo trading account also available. This demo trading account unlike some others, does not expire. With that said, it may be closed if you have not trading in a 30 day period.

Often, you go to as a trader is currency trading and the ability to trade in one top currency pair or another. In this respect, the XTB broker offers a choice of more than 45 forex pairs across both of these XTB account types.

The XTB spreads are also highly competitive starting from just 0.1pips on some major pairs. If you are more into CFD trading, then you can also sample this within the XTB demo trading account at no risk to your real money whatsoever.

There are more than 100 cfds to choose from in various categories such as indices, commodities, futures, etfs, and a selection of 25 cryptocurrencies to choose from. An XTB broker review will show that they apply a 0.08% fixed commission to every trade and then a possible $3.50 per lot traded commission which depends on the account type you select.

When it comes to trading platforms you can try out and that are available as part of your demo trading account, XTB offers MT4 and xstation. Finally, in terms of fees, the broker does offer some rollover-free accounts although not in every country so you should check with their support team particularly if you are a islamic forex trader.

With XTB you also have the chance to further your development by taking advantage of a strong educational infrastructure through videos, tutorials, webinars, and more to help you grow as a top forex trader.

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The forex market is becoming increasingly popular every day. With over 3.5 trillion dollars traded on a daily basis, the market can be both risky and lucrative. There are many types of live forex trading accounts available in the market. Each of these various accounts come with their own rewards and downsides. Knowing the right trading account is the key to the successful trading experience.

As a beginner, you need to open up an account will a reliable forex trading company. But, how will you know the right account to meet your level of expertise? What is the best trading account suiting your needs? Below is a detailed guide on the different forex trading accounts.

1. Demo account

This is the entry point for all forex traders. This type of trading account is offered nearly by all forex brokers. It gives a trader a virtually equal experience to trade with fewer risks of losing funds. As a trader, you are allowed to test your trading strategy for viability, draw-downs and other performance procedures.

In addition, the demo account allows for an appraisal of the broker company providing the account without the requirement of real funds. A good number of forex trading companies will allow a trader to create a demo account without much commitment. The broker will only require a few personal details to complete the registration process.

This account enables you to trade with liberty. The absence of actual funds implies you trade without any form of suppression.

A second chance. In case you lose your trading account, there is a good chance to fix the problem and start trading. The capital risks are simulated and have no actual effect on your income.

Limits. A demo trading account offers limited funds. In addition, there is a limit on the time you are allowed to trade over the platform. Once it expires, you will have to open up a new one.

Easy to trade the wrong way. Since it’s a demo account, it’s very easy to mismanage it. Where there is freedom to trade the way you want, chances are you will overdo it.

Profitable spreads: occasionally this trading account gives impractical spreads that are misleading.

2. Micro forex trading accounts

This type of accounts allows a trader to invest a small amount of capital. You can invest as low as $1-$10 to open up the account.

Low risks-since you invest low amounts of capital, it becomes easier to control risk factors.

Minimal profits-with a low investment, you get no benefits from the forex brokers.

3. Mini forex trading accounts

Just like its name suggests, the account is ideal for new traders who want to invest small amounts of money. You can trade with a personal investment ranging as low as$100. A large number of forex brokers provides a 400:1 leverage on this type of trading account. This means you can transact as more as $10000 with fewer risks on personal funds. As a result, a trader is likely to reap big more than their investments. The opposite is also true. You can lose a lot of money more than your personal investments. A trader s also allowed to use leverage with mini trading accounts. With higher leverages, you can easily access a substantial trade size equivalent to the actual funds.

Fewer funds at risk. Accessibility is the major benefits of using this account. It’s affordable to many traders and allows for leverage meaning you can make good money even on a small investment.

Low risk. Once you are done with a demo account, the mini trading account is an excellent option to jump into. It comes with low risks as compared to other live accounts.

• limited proceeds: despite its low risks in forex marketing, the gains are relatively low for an ambitious trader.

4. Standard forex trading accounts

This is the most typical type of forex trading account. Its name is attributed to the fact it allows traders to perform standard kind of transactions usually ranging within $10000. With this amount, you dot necessarily have to invest the whole amount. Instead, this forex trading account has a leverage of 100:1. As a trader, you can start with a capital of $1000. Depending on the brokerage firm, there are different requirements to create this type of account.

Possible for realistic gain. Since you are required to invest big, there is a potential for a genuine gain.

Extra services from the forex provider. Standard trading accounts generate good amounts of commissions. As a result, the brokerage firm offers more services as a way of maintaining their clients. For instance, a trader is allowed to access expert FX services, free deposit, bonuses among others.

Possibility of a huge loss. The same way it’s easy to make huge proceeds, you can also incur huge losses. It’s a two-way traffic kind of trading. The combination of huge capital and leverage makes it ideal for expert traders only. It takes time before you know how to trade well.

Larger capital investment: the minimal amount of capital required to invest in this type of account ranges from $1000. Only wealthy traders can afford a standard trading account.

5. Managed forex trading accounts

This is an automated type of trading account where a forex broker executes trades on behalf of the account holder. The role of the trader is limited to providing capital requirements only. The trader will contribute all the capital required but the management of the account lies with an expert forex company. Your work is to lay down the goals of trading while the account manager tries to achieve the goals. There are various ways of trading with managed trading accounts starting with social platforms all the way to in-house trader services.

Potential for success- this account is ideal for both experts and beginners. Even with little knowledge in forex trading, having somebody trade on behalf means the good possibility to make money.

Freedom: forex trading is complex and time-consuming. Having an expert trade for you means you can focus on other things far from the screen.

The cost of liberty- you must pay a certain fee for somebody else to manage your trading account.

Possible to lose. You are trading on someone else’s trust. This means you can incur losses out of a robot or human error.

6. VIP trading accounts

Also known as the premium, this type of trading account is ideal for the high rollers. Only traders who can raise a minimum of $10000 can open a VIP account.

Lots of bonuses- traders enjoy up to 100% bonus on their deposits

Additional services- VIP traders get access to other services such as travel benefits, debit cards, technical analyses among other benefits.

Only loaded traders can afford to open this type of forex trading account.

Potential for the big losses-the same way you can make big proceeds, you are also likely to lose.

Forex accounts

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Invest in forex

Daily turnover of the forex market has exceeded 6.6 trillion U.S. Dollars. Forex trading has been the most lucrative investment options of investors for decades. With forex92’s seasoned forex traders, you can enjoy hassle-free 25% to 35% return on investment every month. If you are a beginner or layman investor, then you can choose our managed forex account that requires at least $10,000 investment with no additional knowledge or skill. Otherwise, you can just copy our trades with even a $100 investment. However, to benefit from our copy trading service, you must know the application of effective money management strategies and usage of our third-party platform zulutrade. In other words, copy trading service is for professional investors only. Under the forex investment plan, our trading team invests your funds in currencies, precious metals, indices and commodity futures.

Invest in crypto

Crypto investments have practically made many people millionaire in mere few months. While cryptocurrencies have enormous profit potential, at the same time, they can cause loss of all or part of your investments due to extreme price volatility. Forex92 presents a crypto investment solution that starts with at least $3000 investment. Under the supervision of forex92’s experienced crypto traders, you can enjoy hassle-free profits every month. All you need is to open a trading account with one of our partner brokers, deposit funds and share your account details with us. Our trading team invests your funds in various cryptocurrencies such as bitcoin, ether, dash, litecoin etc. Although our monthly ROI target is 30%, however, the actual returns can be significantly higher due to the highly volatile nature of cryptocurrencies.

Why choose us?

Successful trading strategy

Our trading model is based on price action and effective money management strategies. Each trade placed by our team is an outcome of extensive technical and fundamental analysis. We monitor financial markets round the clock to find the best out of best trading opportunities and generate steady profits for our valuable clients.

Easy to use services & support

Our fund management services are easy to use. To benefit from our managed forex account, you just need to fund your trading account with one of our partner brokers and share your mt4 credentials with us. We generate around 20% to 30% return on investment (ROI) each month. Similarly, our trade copying service is also very easy to use. All you need is to follow us on zulutrade and enjoy steady profits each month.

Low risk trading

Our trading model is extremely safe. We risk only a small amount of capital on each trade. Further, we do not open multiple trades simultaneously. Instead, we place only a few but quality trades each week. We always operate with the best risk/reward ratio that is around 1:2 or more. Above all, we neither use eas nor any high-risk scalping techniques. We manage all trading accounts manually.

Fully regulated partner brokers

We work with fully regulated forex brokers. We make sure that you invest your hard-earned money with FCA, cysec, and ASIC regulated brokers. Regulated brokers are backed by various insurance schemes, thus you don't lose your investments even if a broker goes bankrupt. Further, regulated brokers hold your funds with AAA rating banks.

Investor’s guide to forex trading accounts types

Opening your first forex account is one of the biggest steps you can make as a beginner trader, so it’s certainly not something you do unprepared.

Many beginner traders either rush into selecting an account type without properly understanding what it offers. Others become overwhelmed by the many different account types available. Both of these approaches are wrong but don’t worry, our experts are here to help.

Choosing a forex account type requires you to carefully consider a variety of things, including what type of forex trader you wish to be, your budget and your trading strategy. It’s important that you choose the right account for you, as your account type can impact your performance and profits.

On this page, you can learn:

The different types of accounts offered by forex brokers

The value of a pip, and how this relates to choosing a forex account

How to pick the correct account type for your trading style

Types of forex trading accounts

All good forex brokers allow clients to choose from a multitude of types of trading accounts. Many account types, however, share certain qualities even though they may go by different names from broker to broker.

We will soon talk you through each different forex account type, but first, you need to understand the value of a pip and lot sizes.

The value of a pip

The difference between the opening and the closing price of a trade is counted in pips. On any trade, your loss/profit is also counted in pips.

The value of a pip is directly related to trade volume. In forex, trade volume is counted in specific amounts, namely ‘lots’. This represents the number of currency units you will buy/sell in a trade.

A standard sized lot is 100,000 units of currency. There are also mini lots (10,000 units of currency), micro lots (1,000 units of currency), and nano lots (100 units of currency).

The value of a pip is different depending on the lot sizes you are trading:

value of a pip per:
unit	standard lot	mini lot	micro lot	nano lot
$0.0001	$10	$1	$0.1	$.01

Therefore, being profitable when trading the forex markets is not necessarily related to which trader is making more pips, but what each pip is worth.

Having a good understanding of what these units of measurement (lots and pips) mean before selecting an account type is important, as different account types allow you to trade different lot sizes. You should, therefore, review your capital and the volume you wish to trade before choosing an account.

The most common trading account types

As we’ve just explained, the most common live trading account types are based around the size of the lots you wish to trade. Considering this, each different type of account has a different minimum deposit level too.

Mini/micro accounts

Micro accounts are, as their name suggests, accounts suitable for traders with a small amount of capital. They allow you to enter the market with a small minimum deposit limit ($100 or less). As these accounts have a low barrier to entry, however, there are restrictions on your trading activity. Most micro accounts limit you to trading nano or micro lots. This helps you to control your risk-levels, making these types of accounts perfect for beginner traders.

Standard accounts

Different brokers use different names for their standard accounts. Some brokers may call this type of account ‘classic’ or ‘intermediate’. They may also refer to them as ‘premium’ or ‘gold’ accounts, which is a little misleading as these accounts are actually the broker’s regular offering.

Standard accounts usually have a minimum deposit limit of around $100 – $500, and they allow you to trade mini-lots. Some standard accounts, however, may also allow you to trade standard lots but this is rare.

VIP/professional accounts

Whilst the names of these account types suggest that you would need to be accredited if you wished to open one, that’s not necessarily the case. VIP accounts are generally just reserved for those who have a large amount of capital. They have a high minimum deposit limit (around $10,000) and allow you to trade standard lots. These types of accounts are usually ECN accounts too, which means they allow you to trade in the market directly.

It is important to note that professional accounts for EU clients are slightly different. Under european regulations by ESMA, regular retail traders are subject to leverage limits. Should you want to access higher leverage levels, you can apply for an EU professional account. In this situation, you will need to prove your trading experience and credentials. This could be by passing a test or by submitting documentation.

Other forex account types

Aside from the main three account types, there are some other account types you should become familiar with. These types each have their own specific purpose.

Demo accounts

Demo accounts allow you to practice your trading. They are virtual accounts loaded with virtual currency. Almost all demo accounts are free, yet they may have a limited usage period. This is normally around 30 days. If you proceed to open a live account with the same broker, however, you may regain access.

Demo accounts are useful for both beginners and experienced traders. Novice traders can use them to get to grips with different trading platforms and to see the effects of their trades in real-time. Experienced traders also use demo accounts to test their trading strategies risk-free.

Swap-free accounts

Most of the trading account types mentioned above will come with swap fees. This refers to the fee you incur for holding a position overnight. Traders who wish to hold positions open for a long time however, such as swing traders or investors, suffer heavy fees with a regular account. To prevent this, some brokers offer swap-free accounts.

Whilst swap-free accounts can seem appealing, it’s not simply a case of avoiding fees. Swap-free accounts usually come with higher trading costs and various restrictions. As such, unless you do plan on holding positions for a long time, it is normally best to avoid these types of accounts.

One exception to this rule is if you are a muslim forex trader. Swap-free accounts are also sometimes called islamic accounts. This is because they are often used by muslim traders who cannot incur interested fees due to their religious beliefs.

How to choose the right forex account for you?

Knowing the different types of forex trading accounts only goes so far in helping you choose an account. You also need to know your own situation well and know exactly what you want to get out of trading.

Before opening up a trading account, therefore, you need to ask yourself a series of questions:

How much do I wish to deposit? This is a key question, as it can shrink your account options significantly. You need to weigh up how much capital you have, and how much of that you want to deposit with a broker. It is always worth remembering that you should never trade with money that you can’t afford to lose.

What is my appetite for risk? One of the most important things you can do as a prospective trader is to assess your risk appetite. If you’re a conservative trader, for example, you may be quite happy with a micro account where you can trade nano and micro lots. Those who wish to trade more aggressively may want to opt for a standard account where they can trade standard lots.

Do I need access to advanced trading tools? Many brokers reserve their best trading tools for their professional clients. This may include innovative news analysis or access to a larger range of indicators.

These are tools which can very beneficial to expert traders, who may be managing more than one account at once. Do note that whilst its easy to feel like you want access to as many tools as you can get your hands on, these tools aren’t actually always necessary. Don’t go signing up to a professional account as a beginner trader for the sake of extra features. It’s not worth the large deposit amount.

What is the difference between a micro and a standard account in forex?

In forex trading, account types are often based around trade volume. Trade volume is measured in lots, and refers to the amount of currency you wish to trade. Micro accounts, for example, allow you to trade micro or nano lots (1,000 and 100 units of currency respectively). Standard accounts, on the other hand, allow you to trade mini lots and sometimes even standard lots (10,000 and 100,000 units of currency).

What is the best forex trading account for beginners?

All beginner traders should start off with a demo account. This allows you to practice trading with zero risk. Many prospective traders stick to their demo accounts for at least six months, whilst they get to grips with the trading software and their trading strategy. After this time, micro/mini accounts are best for forex beginners. This is because they have a low minimum deposit limit and allow you to trade micro and nano lots.

What account types are there in forex?

In order to cater to all types of traders, the best forex brokers offer a variety of account types. The most common forex account types are based around trade volume, these include mini, standard and VIP accounts. Other popular account types include swap-free accounts/islamic accounts, demo accounts, and social trading accounts.

How much money do you need to open a forex account?

The amount of money needed to open a forex account is dependent on what type of account you want to open. Some brokers allow you to open accounts for as little as $20 or even $5 dollars. Professional accounts, on the other hand, usually have a minimum deposit of around $10,000.

Forex accounts

With the latest technology software it seeks to simplify the process of buying and selling currencies through FOREX account management, generating investors a monthly average return of 5% on capital.

Globally they can link bank accounts (brokers) compatible with the metatrader4 platform

our operations execution system is automated and managed by our group of traders.

Monthly profitability

Annual profitability

The COMPANY does not receive money from third parties, to manage the accounts it is required that they be in the name of the INVESTOR in the bank (broker) of their preference compatible with metatrader4, minimum investment 10,000 USD

the INVESTOR sends the information of the metatrader 4 platform (server-user-key), linking the account to our system blocks access to the metatrader platform of the investor

The COMPANY may operate in the managed account with the negotiated instruments, such as forex, using any margin and leverage in the purchase and sale, the amount and timing of operations vary in short, medium and long term, according to the conditions of the market.

The COMPANY will act on the account as a sole administrator.

The INVESTOR declares that funds are not necessary for the current expenses of life, and are considered by him as designated funds for the investment, (do not invest money that cannot lose). Our system reduces the risk it does not eliminate it.

The INVESTOR has the know that the operations are considered speculative and may result high either both profits and losses, past or current results do not guarantee future profists.

The COMPANY does not insure the capital of the INVESTOR, does not compensate, nor is it liable for transactions that at a certain moment close in negative due to market conditions or the management of the account.

The COMPANY charges the INVESTOR 25% of the profitability generated in a monthly period, 20% for investments over 100,000 USD

The account management is resume when the INVESTOR makes the commission payment, there are no terms of permanence.

The COMPANY does not give information on tax regulations or legality, since each country has different rules and laws for FOREX, it is important that you inform yourself before investing.

Forex account

What is a forex account?

Forex accounts give investors and traders the ability to trade all major currency pairs and some emerging market pairs.

How a forex account works

A forex account is a type of account that a forex trader opens with a retail forex broker. Forex accounts come in many forms, but the first that is opened is often the forex demo account.

From forex demo account to forex account

After the trader has tried out demo accounts with a few different dealers, a funded account would be the next step. Mini accounts, full accounts and managed accounts are the most common types of funded accounts. Mini accounts are similar to full accounts except that currency is traded in lots of 10,000 rather than 100,000. This allows for lower mandatory initial deposits and greater customization of risk management.

As the number of forex brokers have grown, the lower the cost of managing accounts has become. Most will have no initial set-up fee and charge the user per trade, which will often be determined by the size of the trade. For example, someone who wishes to trade a notional amount of 1,000,000 units will pay a higher fee than a beginner who is trading in units of 10,000.

Forex accounts—which one to open

It is important for currency traders to consider what they want to get out of their accounts before deciding on the type to open. Demo accounts and mini accounts are great for the retail forex trader to learn a profitable system and get used to the broker's execution methods. For currency speculators who don't want to trade themselves, a managed account may be a better option.

Depending on the type of forex account, some may give the trader capabilities to trade other products such as forex options and forward contracts.

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1. Demo account

This account enables you to trade with liberty. The absence of actual funds implies you trade without any form of suppression.

A second chance. In case you lose your trading account, there is a good chance to fix the problem and start trading. The capital risks are simulated and have no actual effect on your income.

Limits. A demo trading account offers limited funds. In addition, there is a limit on the time you are allowed to trade over the platform. Once it expires, you will have to open up a new one.

Easy to trade the wrong way. Since it’s a demo account, it’s very easy to mismanage it. Where there is freedom to trade the way you want, chances are you will overdo it.

Profitable spreads: occasionally this trading account gives impractical spreads that are misleading.

2. Micro forex trading accounts

This type of accounts allows a trader to invest a small amount of capital. You can invest as low as $1-$10 to open up the account.

Low risks-since you invest low amounts of capital, it becomes easier to control risk factors.

Minimal profits-with a low investment, you get no benefits from the forex brokers.

3. Mini forex trading accounts

Fewer funds at risk. Accessibility is the major benefits of using this account. It’s affordable to many traders and allows for leverage meaning you can make good money even on a small investment.

Low risk. Once you are done with a demo account, the mini trading account is an excellent option to jump into. It comes with low risks as compared to other live accounts.

• limited proceeds: despite its low risks in forex marketing, the gains are relatively low for an ambitious trader.

4. Standard forex trading accounts

Possible for realistic gain. Since you are required to invest big, there is a potential for a genuine gain.

Extra services from the forex provider. Standard trading accounts generate good amounts of commissions. As a result, the brokerage firm offers more services as a way of maintaining their clients. For instance, a trader is allowed to access expert FX services, free deposit, bonuses among others.

Possibility of a huge loss. The same way it’s easy to make huge proceeds, you can also incur huge losses. It’s a two-way traffic kind of trading. The combination of huge capital and leverage makes it ideal for expert traders only. It takes time before you know how to trade well.

Larger capital investment: the minimal amount of capital required to invest in this type of account ranges from $1000. Only wealthy traders can afford a standard trading account.

5. Managed forex trading accounts

Potential for success- this account is ideal for both experts and beginners. Even with little knowledge in forex trading, having somebody trade on behalf means the good possibility to make money.

Freedom: forex trading is complex and time-consuming. Having an expert trade for you means you can focus on other things far from the screen.

The cost of liberty- you must pay a certain fee for somebody else to manage your trading account.

Possible to lose. You are trading on someone else’s trust. This means you can incur losses out of a robot or human error.

6. VIP trading accounts

Also known as the premium, this type of trading account is ideal for the high rollers. Only traders who can raise a minimum of $10000 can open a VIP account.

Lots of bonuses- traders enjoy up to 100% bonus on their deposits

Additional services- VIP traders get access to other services such as travel benefits, debit cards, technical analyses among other benefits.

Only loaded traders can afford to open this type of forex trading account.

Potential for the big losses-the same way you can make big proceeds, you are also likely to lose.

So, let's see, what was the most valuable thing of this article: trading foreign currency in the forex market can be risky. Here is what you need to get started and open an account. At forex accounts