What Is the Best Account Type for Forex?

The standard trading account is the most common. This account gives the user access to standard lots of currency each worth $100,000. (That does not mean that you have to put down $100,000 of capital in order to trade. The rules of margin and leverage mean that only $1,000 needs to be in the margin account for one standard lot to be traded.)

 

However, mini accounts are recommended for beginners, more risk-averse traders, or those with limited funds. They reduce the maximum lot size to just $10,000. Most mini accounts can be opened with $250 to $500, and they come with leverage of up to 400:1.