Forex Mini Account

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.

BREAKING DOWN '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.

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RELATED FAQS
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    The forex market is where currencies from around the world are traded. In the past, currency trading was limited to certain ... Read Answer >>
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    An account liquidation occurs when the holdings of an account are sold off by the firm in which the account was created. ... Read Answer >>
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