The success of trading is based on choosing a safe and reliable trading platform, so everyone should pay more attention to the information about traders and trading accounts.
Today we will share the types of trader accounts.
different account types
The reason why traders are divided into different account types is that different accounts target traders with different capital sizes. It is also very important for each trader to choose the best broker account based on specific needs and resources.
Most broker platforms offer 4 account types, each with different initial funds and minimum trading units.
- Micro account
This type of account requires minimal initial capital and can be opened with $50 to $100. The lowest trading unit is a micro lot, which is equivalent to 0.01 lots. More suitable for beginners. - Mini account
More initial capital is required than a micro account, and the minimum trade size is one mini lot, which is equivalent to 0.1 lots. It is suitable for people who have some trading experience and feel more in control of trading. With the accumulation of trading experience, account types can also be advanced. - Standard account
This account type requires a high initial capital and the minimum trade volume is 1 lot. But some traders still allow traders to trade 0.01 lots. It is more suitable for investors with rich trading experience. - VIP account
This is the type of account that some broker platforms provide traders with better services. Generally, this type of account also provides more services such as analysis functions, personal services, etc. Suitable for experienced investors with larger trading volumes.
