In order to facilitate access to trading, most Forex brokers offer mini accounts. Especially dedicated to beginners, but just as usable by advanced levels, this type of account is distinguished above all by a low first deposit. But does it really allow you to trade and pocket significant profits? An update on the subject
Mini trading account, what exactly is it?
In fact, a mini trading account is, as its name suggests, a small account for trading. Generally, this account can be opened from $100 to $500, but some brokers also offer access from $50 or even less. Thus, it is mainly small budgets that opt for this type of account, including beginners who do not want to take too many risks. Some traders who are already familiar with mini accounts can also open them, especially to test new configurations or to implement still unusual trading strategies. A Forex mini account allows, in principle, to trade lots from 0.1, but the conditions depend on the broker concerned.
Is it possible to make the maximum profit?
With a mini account as with a standard account, market conditions generally remain the same. The only differences are in the amounts to be paid and, sometimes, in the personalized services such as account management and coaching offers. Although transactions can be made with small amounts of money, the profit rates remain the same. It is perfectly possible to make significant gains, especially since most brokers offer leverage effects. This allows you to bet more than the available capital. However, whatever the type of account chosen, a good trading strategy remains the basis for maximizing your chances. It is also essential to remain cautious, especially with regard to leverage effects that present significant debt risks.
How much to invest with this type of account?
It must be recognized that the very point of using a mini account is to bet less and limit spending. However, in order to be able to expect higher profits, it is necessary to increase your bets. Beginners can start with the minimum, but it is advisable to have at least $500 in your account to be able to trade more easily. It is then up to everyone to adopt good money management and find the most appropriate trading methods. It should not be forgotten that the risks in trading are real and do not depend on the type of account subscribed.
All the brokers we present offer Mini offers well below $500, some even offer a free Forex account opening but you will still have to pay a fee if you want to start trading. You can find our selection by following this link.
Last recommendation: take a look at the different offers, brokers generally offer a more interesting pip if you switch to a higher account so don’t hesitate to compare!