Plus Mini Accounts Include All The Features of a 100K Account Including:
 |
|
|
- Rapid execution from live, streaming prices
- Spreads as low as 1 pip
- Competitive Prices
- FXCM will make best efforts to fill your trade at the price requested
- Real-Time charts & news directly from trading platform
- 24-hour online access to exclusive trade ideas
|
The FXCM Mini account was designed for those who are new to the FX market. The Mini account trades in smaller contract sizes of 10,000 units, 1/10th the size of the standard account. The smaller trade size gives traders the opportunity to trade live with less overall risk or exposure to the market. In addition, the Mini account allows traders to become familiar with FXCM, more specifically the quality and reliability of FXCM dealing practices and the stability of the FX Trading Station.
Develop a Disciplined Trading Strategy
Ask any successful trader and they will tell you that the key to trading success is discipline. Everyone has heard the expression “cut your losses and let your profits run” yet how many traders actually
practice this?
Many traders will hold on to losses hoping it will reverse eventually, only to see the loss get progressively larger. These “irrational” trading decisions are based on emotional reactions to fluctuating
profits and losses, a common pitfall for new traders.
Losses can AND WILL occur. A trader's ability to limit his losses is just as important (or even more important) than determining entry points.
Because the pip value on the Mini Account is about $1 per pip, traders can focus on developing a disciplined trading strategy, basing decisions on pip movement and market conditions NOT P/L.
Consider the Following Example: When trading an FXCM Mini account, a 30-pip floating loss is approximately $30. That same 30–pip move against you on the 100K account now becomes a $300 floating loss. Based on this example, by starting with a Mini account, a trader loses only a small amount on every losing transaction making it easier to stick to a disciplined trading strategy. Generating larger losses on the 100K account can be detrimental to new traders as the temptation to hold on to the loss is much greater based on the size of the loss.
Start Small. Build Up Confidence
There is NO MAXIMUM trade volume on the FXCM Mini account. Although the standard trade size is 10,000 units – you are not limited to trading one lot! For instance, you can trade 10,000 units, 50,000 units or 150,000 units. This means as you become more seasoned and build up confidence you can slowly increase the size of your positions to maximise your potential. In fact the trade size of 10,000 units allows for more flexibility in terms of customising the size of your trade. The ability to customise the size of the trade enables better risk management.
Ideal for Accounts under $10,000
FXCM recommends that all traders with account balances less than $10,000 trade a Mini account. This gives you more staying power in the market, and the ability to take advantage of multiple
opportunities without over-leveraging your account. If you over-leverage your account you will not give yourself room for error. Even if you are correct on the direction of the market, minor fluctuations can generate a margin call and liquidate a good position.
Take a Mini Challenge!
Due to the over-the-counter nature of the FX market, execution varies depending upon the firm you trade with.
FXCM has a reputation of providing one of the highest qualities of execution and service in the FX industry. When you trade FX online with FXCM you receive:
- An intuitive and user-friendly trading software
- Rapid execution from live, streaming prices
New accounts can be up and running in as little as one business day (subject to method of funding). Convenient Funding options are:
*Without proper risk management, this high degree of leverage can lead to large losses as well as gains.
|
