Zero, crypto, min deposit. In addition, a trader must evaluate the broker model whether the broker is an ECN, a market maker or dealing desk and decide which model best suits their trading goals. Loginov, Alexander, and Malcolm. What Tends to Differ Among Live Forex Trading Account Types. You can online forex brokers wikipedia easily divide the basic types of forex broker account types into two primary categories. These accounts can be ideal for small traders or new traders. It might also follow the brokers proprietary black box trading signals.
Types of Forex Accounts.
A mini trading account is just a trading account that allows forex traders to make trades using mini (smaller) lots.
In most brokerage accounts, a mini lot is equivalent to 10,000, as opposed to a standard account, which trades lots 10-times that size.
Forex accounts at XM can be opened in Micro, Standard or XM Ultra Low formats as shown in the table above.
The trader must evaluate the features offered, the trading platform, and the brokers dealer spreads. Such accounts often feature access to additional analytics, a personal advisor and the tightest dealing spreads. The brokerage business is characterised by extreme competition, and as a result brokers will use any strategy possible in order to attract as many clients as possible. What is a trading account? The first category is the forex demo account, which is an account that uses virtual money so that the trader takes no monetary risk when trading.