Check out this informative guide on mini forex trading accounts with very good detials.

Mini forex accounts normally allow you to trade with just one tenth of the regular size of the lot. This usually means 10k units of forex currency as opposed to usual 100K units.
Yes, you do not have to have so much in your broker account. We know trading forex works with leverage. If you are using 100 times leverage then you need $100 to control $10,000 in your mini account or $1K to manage hundred thousand dollars with a standard forex account.

USD100 or 100 units of your base currency per trade is sufficient to commit to a trade when they are starting out and that is why the mini forex account is so popular.

The size of the pip is also normally smaller in a mini trading account. pips are units in which we can measure your profits, losses and costs (the spread). Their dollar value can differ depending on the fx pair in your trade, the lot size and other characteristics of your broker, but a normal standard pip size is Ten dollars and forex mini accounts pip size is one dollar.
Some brokers are now quoting prices to 5 decimal places which theoretically would make one pip 0.00001 of the quoted price, however let us continue with the usual four decimal place pip for this example.

So in case you got a standard trading account you can expect to commit $1K on each trade, for trading lots of $100K and measure your profits in $10 units.
If you have a forex mini account you can expect to commit $100 on each trade, for trading lots of $10,000 and calculate your profits in $1 units.

Certainly you can place stop losses so that you don’t have to risk all of the money that is committed to the trade. But your losses will be measured in terms of pips so these too will be 10 times higher in the standard trading account.

When you get very good returns and your fund grows, you might look forward for trading bigger amounts. You can still do this in your mini forex account by trading more than one lot simultaneously. So if you like to trade a standard lot size you simply need to trade ten mini lots. Although this would be a tedious process without the help of program like Forex Autopilot Robot.

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