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Mini Forex Trading Platforms for Beginners

By : Paul Bryan
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Mini forex trading is the fastest and the most cost-effective method to trade in the major liquid currencies from your home or office round the clock at the same prices as large banks and financial organizations.

So an automated mini forex trading platform provides all the advantages of a standard forex trading platform but the smaller trade size gives you the opportunity to trade live with less risk or exposure to the market. The mini forex trading platform, therefore, is the best for a beginner or new investor, who can get a feel of the actual forex trading market without bothering much about win or loss.

The forex mini trading platforms come with the option of opening a demo account in which you get free access to online forex quotes, news and also can trade currencies, but with virtual money. Once you develop the confidence you can open a real live account in the mini forex trading platform. This mini forex trading platform will allow you to start real dealing with mini forex contracts.

If you are an experienced trader or investor and looking for the best and most cost-effective online forex trading platform, then you can open a mini account with the mini forex trading platform, so that you can judge the performance of the platform with little risk.

Most of the mini forex trading platform opens your mini account with as small as $100. The trading platform allows you to trade 10,000 of base currency per lot whereas the standard minimum on real forex is $100,000. You receive the advantage of margin requirements of the mini forex trading platform which may be 0.5% of the actual value of contract you can trade. This comes about $50 per lot.

You can control $10,000 with this $50 deposited on your mini account with the mini forex trading platform. Here you can trade currencies without any commissions and even get profit with positive 'Swaps'.

An ideal mini forex trading platform should incorporate front end and back office functionality to provide information and dealing or trading capabilities on forex market. The platform should be based on user friendly formats allowing easy navigation and customization of pages to suit your specific requirements.

In a mini forex trading platform you should be able to place market orders on real-time prices and execute your trade instantly. You must have the facility of setting a stop order which closes a trade automatically once it reaches the value you specify. In your mini forex trading platform you can place a limit order which close the trade when it reaches the profit value you are targeting.

Your mini forex trading platform must present a record of past and present trading activity through which you can easily monitor positions and orders combined with margin account management. It should provide access to forex instruments and comprehensive charts, different technical studies including Moving Averages, Bollinger bands, Elliot waves etc.

For choosing a mini forex trading platform you should look for:

Easy to use interface and ability to use multiple trading strategies Can execute multiple types of orders with multi-currency based account Complete technical analysis package with in-built indicators and charting tools The ability to create different custom indicators Should be functional in different time periods Option of receiving advice and market information Multilanguage Support.

About the author:
To start earning money trading currencies online visit Mini Forex Trading Platforms


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