Forex Mini Account

AAA

DEFINITION of 'Forex Mini Account'

A type of brokerage account that is used by beginner traders looking to enter the foreign exchange market. A forex mini account allows the investor to take a smaller position in a currency than if they were to trade the standard lots used by those with a regular account. Generally, a mini account allows the trader to trade contract sizes of 10,000 units rather than the standard 100,000.

INVESTOPEDIA EXPLAINS 'Forex Mini Account'

The smaller contract sizes have a broad appeal to beginner investors who do not want to take on a disproportional amount of risk. Generally speaking, mini account holders have access to the same materials as the regular account holders such as charts, trading platforms, support, etc. Those traders who are looking to get started in the forex market should consider opening a mini account because of the smaller contract sizes.

RELATED TERMS
  1. Micro Account

    A forex trade made up of contracts for 1,000 units of currency. ...
  2. Standard Lot

    The equivalent to 100,000 units of the quote currency in a forex ...
  3. Currency

    A generally accepted form of money, including coins and paper ...
  4. Forex - FX

    The market in which currencies are traded. The forex market is ...
  5. Liability

    A company's legal debts or obligations that arise during the ...
  6. Lot

    In general, any group of goods or services making up a transaction. ...
Related Articles
  1. Forex: Wading Into The Currency Market
    Forex Education

    Forex: Wading Into The Currency Market

  2. Top 7 Questions About Currency Trading ...
    Forex Education

    Top 7 Questions About Currency Trading ...

  3. Forex Minis Shrink Risk Exposure
    Forex Education

    Forex Minis Shrink Risk Exposure

  4. What are the advantages of using a mini ...
    Forex

    What are the advantages of using a mini ...

comments powered by Disqus
Hot Definitions
  1. Letter Of Credit

    A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. ...
  2. Due Diligence - DD

    1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to ...
  3. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  4. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  5. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  6. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
Trading Center