DEFINITION of 'Micro Account'
A forex trade made up of contracts for 1,000 units of currency. Micro accounts are one of three common types of accounts in forex market trading that investors use when trading currencies; the other two are mini accounts and standard accounts. This type of account is usually used by beginner traders.
BREAKING DOWN 'Micro Account'
Forex micro lots are equivalent to 1,000 units of the base currency. Depending on the type of leverage that an investor wants to use, immense gains can still be achieved through a heavily leveraged micro account. Standard accounts are usually used by large traders.