Forex Demo Mini Account
What is the ideal capital to open a mini forex account?
I plan to open a mini account with USD800. what leverage should i use? do i have the right to choose the leverage i want? i plan to start small….1:2 or 1:3.
i had played a demo account for 2 months. Current P/L is USD866.91 with USD3000 account. But i’m not sure what leverage i’m using.
i need to know wether i can choose the type of leverage each time i go trading.
$800 is fine for opening your mini account.
You can utilize leverage as low as 1:1 with most any broker and you can go as high as 200:1 or even 400:1.
Rather than focusing on the leverage, what you should actually be focusing on is the margin.
At a 5% margin on an $800 account you would be positioning $40 into the trade. At a 1:1 leverage you would be controlling only $40 of currency (less the spread or “commission”). At a 100:1 leverage you would be controlling $4000 of currency with the same $40.
I would be happy to send you some more info if this is confusing for you.
Paul
pupp50@yahoo.com
forex broker demo mini account metatrader autopilot
