From the trader you only need to correctly set up the trading terminal and master the main rules of trade. Otherwise, everything was already done for him - private traders got the opportunity and the necessary tools to participate equally with large companies in international trade. Do not forget also that you must correctly set up a trading account.

The main trading accounts are represented by the following types:.

standard;.

mini;.

Manageable.

Standard account It is not difficult to guess that in the Forex market you can usually find a standard trading account. With its use, a trader gets access to the best charting software and classic currency lots, which cost an average of $ 100,000.

The principles of margin trading allow a trader to have on the account much less this amount in order to successfully trade. And if, for example, you decide to use the leverage of 1k100, it will suffice to have only a thousand dollars to ensure the conclusion of a deal with one lot.

Advantages of the standard account:.

Service. Since the standard account requires a lot of capital to trade a full lot, most of the brokers on the market provide quality services and additional benefits for their customers. At this level, there are much less frequent "kitchens" and other scammers.

Potential Income. Taking into account the fact that the cost of each item is about $ 10, the market movement in the direction predicted by you for a hundred points promises a profit of $ 1000. On accounts of other types it is not necessary to talk about such a high profit. This will require, at a minimum, a much larger amount on the deposit.

Disadvantages of the standard account:.

Requirement for initial capital. Many brokers are reinsured and set a minimum bar to enter the market for their customers. Someone wants to see on the trader's deposit $ 200, and someone $ 5,000.

Loss potential. With the same ease with which you can get $ 1000, guessing the direction of the market, you can lose this thousand if the schedule unfolds and moves against your bet by one hundred points. For a novice player, this loss can be fatal, so the standard type of account is suitable only for a professional trader.

Mini-account The difference between a mini-account and a standard one is in the amount of a lot. Here it is a tenth of the standard and is equal to an average of $ 10,000. This option is especially attractive for beginners, who are not yet ready to risk large sums and do not have a large starting capital.

Advantages of a mini-account:.

Low risks. Due to the small volume, forex trading is conducted with a reduced risk. At least a trader does not have to bet a large amount of money. Experienced players can also use mini-accounts to test new ideas and strategies.

Low capital requirements. To work with a mini-account, a trader must have a deposit of $ 100, and given that the allowable leverage ratio is 1k400, with skillful handling, the trader will easily succeed with a mini-account.

Flexibility. Risk management is the key to successful trading. Trading a mini lot is much easier to minimize risks, because you can simultaneously open several lots, which in sum will still be less than one bet on a standard account.

Disadvantages of the mini-account:.

Low profit. For the minimal risk it is necessary to pay the reduced profit. While on a standard account a change in the price of one item implies a profit / loss of $ 10, here it is only one dollar.

Managed trading accounts A feature of the managed trading account is that your capital is managed by other traders.

At the same time, the investor himself determines the goals for his capital. The main advantage of a managed trading account is the professional handling of money. But there are disadvantages. First of all, traders will have to face a lack of flexibility and a high threshold for entry.

Each of these accounts has its advantages and disadvantages, and the choice of a particular option requires the trader to pay attention to seed money, risk tolerance and availability of free time for trading.