The minimum deposit amount required for opening a forex account differs from one forex broker to the other. The minimum deposit required is dependent on the following factors,
The forex minimum deposit depends on the type of account operated. These account types are listed below.
1. Classic account
2. VIP account
3. Institutional account
While the minimum deposit for a classic account has been pegged at $2000, a minimum deposit of $10, 000 and $50, 000 is required from both VIP and institutional accounts respectively. In terms of leverages, a maximum leverage of 1:2000 is required for a classic account while 1:100 is required for VIP and a negotiable leverage can be negotiated upon for the institutional accounts.
All the account types grant the traders the ability to gain complete access to both MetaTrader 4 and also the Real Forex proprietary trading platform which includes a full chart package, expert advisors who help and access to detailed account information. A token of $500 is needed as the minimum deposit amount for a trading account with Forex minimum deposit. When you register for a demo account with Forex minimum deposit, you get enrolled for a free forex trading course.
FEATURES OF FOREX Brokers
1. AUTOMATED FOREX TRADING
Good forex brokers with the best minimum deposit have a room for automated forex trading and they also cater for technical traders by offering them a plethora of charting tools that are based on the ProRealTime API.
Good forex brokers with minimum deposit offer its traders different education offerings which come in the forms of tutorials on the best ways to utilize some of their trading platforms and tools. They also provide an ebook on trading strategies which includes the Golden Cross Forex Strategy as well as the Forex Shark Strategy.
3. FOREX NEWSLETTERS
The Forex brokers usually have a provision where all logged in members can access a free currency rate table and also a daily forex newsletter which is stocked with valid information concerning the market, forex signals, trading strategies, interesting insights and many more. These newsletters are usually accompanied or summarized by illuminating graphs and thorough explanations.
4. FUNDING AND MAKING WITHDRAWALS FROM YOUR REAL FOREX ACCOUNT
Forex brokers with minimum deposit have a provision for credit and debit cards, wire transfers and various online payment programs for easy deposit into the real forex accounts. In the same vein, withdrawals are made by following the same procedures of either filling out an online withdrawal form or contacting a representative in the head office.
5. CUSTOMER SUPPORT
Forex brokers offering the least deposit provide a 24/7 customer support which can be accessed by filling an online form or by speaking a representative through the phone or communicating by mail.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.