Standard Forex accounts are opened by traders already involved in the Forex market and ready to take their trading to the next level. A Forex standard account can be opened with a minimum of $2,000.
Mini Account Contract Sizes In a standard account, the lot or contract sizes that are traded are 100,000 units of currency, whereas for a mini Forex account the lot sizes are 10,000 units of currency; in other words, the standard Forex contract is 10 times more the size of mini contracts.
What are the advantages of a Forex mini account? Many of the same benefits are available with a standard Forex account, as are available with a mini Forex account, such as 24hr trading 6 days a week, 100:1 leverage and small deposit requirements that allow for control of $100,000 worth of currency.
How can you trade 100,000 worth of a currency with only $2,000? The answer is because of "Leverage”. Leverage allows you to trade more of a given commodity (stocks, currency, futures, etc.) than you have money in your account to do. In a standard account, the margin deposit requirement per $100,000 lot traded is $100. That means that the leverage is 100 to 1 (100,000 divided by 100 is 1,000). Thus, with $2,000 you could trade a total of 10 standard lots. The superior leverage found in standard Forex accounts provide traders with a greater degree of flexibility in the implementation and execution of different trading strategies.
Standard Forex trading example Traders make money in the Forex market by collecting Pips (Price Interest Points). If you are trading currencies with a mini account and set a 25-pip profit limit, this is equivalent to a $25 gain ($1a pip). In a Forex standard account, this is equivalent to $250 because a standard lot is 10 times the value of a standard contract ($10 a pip). This trade size gives traders the opportunity to trade for a living from the Forex market.
PremiereTrade® is a licensed trademark of PremiereTrade® LLC. and any related products are analytical tools only and are not intended to replace individual research or licensed investment advice. Unique experiences and past performances do not guarantee future results! Testimonials are non-representative of all clients; certain accounts may have worse performance than that indicated. Trading stocks, options, mutual funds and spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. No representation is being made that any software or training will guarantee profits or not result in losses from trading. Neither the software programs, any explanation or demonstration of their operation nor any training held in conjunction therewith, including, without limitation, through online chat, radio programs, during in-person seminars or otherwise should be construed as providing a trade recommendation or the giving of investment advice. All purchasers of software or other products owned by PremiereTrade® FOREX LLC or assigns are encouraged to consult with a licensed representative of their choice regarding any particular investment or investment strategy. Prices and offers are subject to change without notice. All shipping & handling charges are non-refundable.
Trading foreign exchange, options, stock or mutual funds on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade in any financial market you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your investment and, therefore, you should not invest money you cannot afford to lose. You should be aware of all the risks associated with trading in financial markets and seek advice from an independent financial advisor if you have any doubts.
Refund and Return Policy - This transaction may be cancelled at any time prior to midnight of the third business day after the date of this transaction. All monthly service charges are automatically charged/debited after expiration of any free trial periods, if applicable. We bill in arrears for all monthly services. During your first 30 days, you can cancel any services during the first 30 days and will not be charged. You will be billed on the same day each month until cancelled. There will be no partial or prorated refunds. Monthly charges will automatically renew each month. To cancel any monthly product, the customer must deliver a written notice (via mail or email, return receipt requested) at least 10 calendar days before the monthly charge is scheduled to be charged/debited. For any product or service that is not a subscription service, we will not bill your credit card until after your trial period of 3 days. These will be specific on your order form for the product or service you enroll for.
