Account types in Forex Trading

Posted by admin on November 13, 2012
Financial Betting

When you first start trading with forex trading, you will soon find out that most brokers offers different types of accounts on their websites. Great, another way of complicating things, you might think, but the fact is that these account types are usually very easy to understand.

First of all, most brokers offers real accounts as well as demo accounts. The demo accounts are accounts that are free to open, and gets you access to all the features that a real account does, but you get to make your trades using virtual money instead of your own money. The thought behind the demo account is to give the trader a chance to familiarize himself with both forex trading in general as well as the trading platform.

When opening a real account, it’s not uncommon for brokers to offer different types of account. These are usually named something along the lines of Standard-, Gold- and Platinum accounts. Which type of account you will get almost always depends on the amount of money you will deposit. The different account types offers different sets of features that you get access to, so a new trader would normally deposit a smaller amount the first time he wants to trade. This means that he will get an account that is designed to suit beginners, and also that he will receive the sort of help that would be suitable for someone with little or no experience.

A trading professional, on the other hand, is expected to trade with much more volume, and will therefore be given a platinum account, for example. The platinum account is designed for this type of player, and he will therefore get access to certain features and benefits that he will have use for, such as personal account managers, high bonuses etc.

Keep in mind, that even if you are a beginner when you start trading at a website, that doesn’t necessarily mean that you are going to stay with the same basic account throughout your membership at a certain broker. If you want to step it up and start trading higher volumes, you can always upgrade you account by contacting customer support.

To find out more on account types, forex trading systems, and financial trading in general, i recommend visiting popular forex portals such as forextrading.pm, or for spanish forex traders, Cambio divisas, .

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