Today currency trading became so popular among traders from Singapore and all the world, so Forex brokers try to adjust the currency trading features to different requirements of every trader. It lets the traders to fit the serious financial trading with their own investment and trading ability. Singapore brokers offer their users not only a great variety of trading features, but also traders can choose different types of the trading accounts that let them to trade with different trading volumes.
The standard Forex trading account is known as an account type where 1 trading lot is 100 000 units. So if you open a trading position with a leverage of 1:100, you will need about $1000 of your own funds in order to open a position for one lot. Means that if you trade in the standard account you need to deposit tens thousands of dollars in order to keep safe and systematic trading.
As many users are not ready to make big investments into Forex market, today beside standard account, many brokers offer also a mini Forex and even Mirco Forex accounts. The important difference between these types of the accounts is that they involve less trading volumes and at the same time require less funds. For example mini trading account has a minimum of 10 000 units and requires $100 investment for one trading position. At the same time micro trading account has 1000 1 lot units and it is enough to have only $10 in your trading account in order to be involved in the real Forex trading.
The creation of mini and micro trading accounts is a great assistance for those users who are new to Forex market and are not able to risk high investments. Though almost every broker provides the users with a unlimited demo trading account, you cannot compare the demo trading with trading in a real account where your own money are involved. Many people who succeed making profit in demo, fail trading the real money. The thing is that when trading with the real money, the traders are more sensitive and usually make mistakes on their trading decisions. In this case mini and micro Forex accounts are very good as they let the traders to enter the unpredictable Forex world with small amounts of real funds in order to feel the real trading and learn to cope with their feelings and don’t let them influence on their trading work. Trading with small money, traders can practice the real trading as much as they want without a risk to lose a lot of funds of their own.
Today each Singapore trader as well as a trader from any other country can start his real trading from as little investment as he can afford. We will do our best to share more information about trading in Singapore and other countries in the future.