The Auto Forex Mini Account uses the same trading platform as any other regular auto Forex trading account. The only major difference is the account size, which is much smaller than the standard account. You can open a mini forex account with a price as low as $ 50. An Automated Forex Mini Account can be a great option for you if you are a new investor in the forex market. Automated online trading has revolutionized the advantages of running a Forex mini account and has boosted it many fold.
The steps you need to follow to open a mini auto trading Forex account are very simple. First, you have to choose a brokerage firm that offers its services to open a mini Forex trading auto account. Fill in some personal details like name, address, contact number, email address and the specific type of account you wish to open. After filling out this online inquiry form, you can directly open your mini account. Many agencies now accept $ 50 to open an auto trade mini account, but in a very volatile market like Forex and due to the high leverage it is best to invest at least $ 2000.
There are quite a few advantages of an auto trading mini Forex account. The mini accounts are well suited for those new to the Forex market. The mini accounts trade in smaller lot sizes, giving traders the opportunity to trade with less risk or market exposure. This smaller trade volume also helps build confidence. Since the trading is fully automated, you can experiment with the features of the trading platform and judge the efficiency of the system.
Since the pip value of any mini account is only $ 1 per pip, you can develop a disciplined trading strategy while dealing with an automatic mini forex account. Moreover, you learn to overcome your tendency to emotional trading, which sometimes leads to irrational trading decisions. You also learn to reduce losses and determine your own entry and exit points.
Auto Trade mini forex account gives you more power in the market. This enables you to take advantage of many opportunities without overtaking your account. Most of the automatic mini forex account provides easy-to-use trading software. It has all the interactive and useful features for fast standard execution of live streaming prices.
In some currency pairs like EUR / USD etc., a one pip movement in the exchange rate equals the profit or loss of one dollar in the account value per lot. A Forex Automated Forex mini account usually offers a 3 or 5 pip difference on most currencies. Therefore, open a mini Forex account automatically to master the art of trading before entering the market with a large investment volume.