The type of account a forex trader opens with a retail forex broker. Forex accounts come in many forms, but the first that is opened is often the forex demo account.

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After the trader has tried out demo accounts with a few different dealers, a funded account would be the next step. Mini accounts, full accounts and managed accounts are the most common types of funded accounts.

Mini accounts are similar to full accounts except that currency is traded in lots of 10, rather thanThis allows for lower mandatory initial deposits and greater customization of risk management. Is is important for currency traders to consider what they want to get out of their accounts before deciding on the type to open. Demo accounts and mini accounts directors buying shares rules great for the retail forex trader to learn a accounts forex mini managed system and get used to the broker's execution methods.

For currency speculators who doesn't want to trade themselves, a managed account may be a better option. Dictionary Term Of The Day. A measure of what it costs an investment company to operate a mutual fund.

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