Once you have decided that you have the proper mindset and are ready to start investing on the FORE X exchange you are ready for the next step. That step is to select the type of FOREXgen account you want to open. You should make this decision before you pick a broker to work with.
Some brokerage companies specialize in one type of account or another. The type of account you choose could affect your broker choice. forexgen puts you in front of 5 types of accounts.
The most popular account with new investors is the mini account. One of the factors that make the mini account so popular with beginners is that it has the lowest minimum deposit requirements forexgen allows this with only 250$.
The minimum deposit requirements for a mini account are dependent on the broker, some will allow you to open an account with only a $100 deposit. Most mini accounts will deal with lot sizes as small as 10 thousand currency units. Mini accounts may provide as much as a 200 to 1 margin rate and only require $50 per lot to trade. This means that with $50 you will be able to control $10,000 worth of currency.
1 comment:
am interested to know more about your broker, coz am rally interested in forex trading .
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