Micro account

A micro account is a common type of account that allows investors (mainly retail traders) to access the forex market.

It is one of three types, the other two being mini and standard. A micro account caters primarily to the retail investor who seeks exposure to foreign exchange trading, but doesn't want to risk a lot of money. A micro account's smallest contract, also called a micro lot, is a preset amount of 1,000 units of currency.

Micro account

What is a micro account?

A micro account caters primarily to the retail investor who seeks exposure to foreign exchange trading, but doesn't want to risk a lot of money. A micro account's smallest contract, also called a micro lot, is a preset amount of 1,000 units of currency.

Key takeaways

A micro account caters primarily to the retail investor who seeks exposure to foreign exchange trading, but doesn't want to risk a lot of money.

A micro account's smallest contract, also called a micro lot, is a preset amount of 1,000 units of currency.

The minimum volume that a trader can transact is one micro lot, while the maximum volume will usually vary with the amount of equity in the account.

Understanding micro account

A micro account is a common type of account that allows investors (mainly retail traders) to access the forex market. It is one of three types, the other two being mini and standard.

This type of account is usually used by beginner traders, but can also be used by experienced traders to test out strategies in real market settings. Forex micro lots are equivalent to 1,000 units of the base currency. Essentially, a standard account lot is equal to ten mini account lots which is equal to ten micro account lots.

1 micro lot = 1,000 currency units

1 mini lot = 10 micro lots = 10,000 currency units

1 standard lot = 10 mini lots = 100 micro lots = 100,000 currency units

Depending on the type of leverage that an investor wants to use, immense gains can still be achieved through a heavily leveraged micro account, though the losses can also be amplified. These accounts help beginners get a handle on trading and becoming exposed to market volatility, all while learning the basics of risk management.

The main reason that investors open micro accounts is that it affords even small scale traders the ability to trade like the professionals. A prospective trader can buy and sell forex pairs the exact same way as anyone that is using a standard account, but with a much smaller equity stake.

Most micro accounts do not have minimum deposits, and, even if they do, it is usually a nominal amount, like $50. Standard accounts, on the other hand, generally have minimum deposits ranging anywhere from $500 to $10,000. As with all types of accounts, the minimum volume that a trader can transact is one lot, while the maximum volume will usually vary with the amount of equity in the account. Through leverage, a trader using a micro account can run long-term positions that handle short-term price fluctuations.

Standard accounts are usually used by large traders and those hoping to make a living or significant income through forex trading.

Prepare annual accounts for a private limited company

You might be able to send simpler (‘abridged’) accounts to companies house and not need to be audited. This depends on whether your company is dormant or qualifies as a small company or ‘micro-entity’.

Dormant companies

Your company is called ‘dormant’ by companies house if it’s had no ‘significant’ transactions in the financial year that you’d normally report. Significant transactions do not include:

Filing fees paid to companies house

Penalties for late filing of accounts

Money paid for shares when the company was incorporated

Dormant companies that qualify as ‘small’ do not need to be audited.

Check if your company is also dormant for corporation tax.

Small companies

Your company will be ‘small’ if it has any 2 of the following:

A turnover of £10.2 million or less

£5.1 million or less on its balance sheet

50 employees or less

If your company is small, you can:

Use the exemption so your company’s accounts do not need to be audited

Choose whether or not to send a copy of the director’s report and profit and loss account to companies house

Send abridged accounts to companies house

Sending abridged accounts

You can only send abridged accounts if all your company members agree to it.

Abridged accounts must contain a simpler balance sheet, along with any notes. You can also choose to include a simpler profit and loss account and a copy of the director’s report.

The balance sheet must have the name of a director printed on it and must be signed by a director.

Sending abridged accounts means less information about your company will be publicly available from companies house.

Micro-entities

Micro-entities are very small companies. Your company will be a micro-entity if it has any 2 of the following:

A turnover of £632,000 or less

£316,000 or less on its balance sheet

10 employees or less

If your company is a micro-entity, you can:

Prepare simpler accounts that meet statutory minimum requirements

Send only your balance sheet with less information to companies house

Benefit from the same exemptions available to small companies

Find out exactly what to include in your accounts depending on your company type, for example micro-entity, small, medium or dormant.

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Top 6 best brokers with true micro accounts for 2021

Top rated:

As a forex trader, undoubtedly you want to be dealing with the top forex brokers in the industry. Before you take a deep dive into big money trading though, you may want to explore your options in micro trading.

With choosing the best micro forex broker in mind, here we have listed six of the very best in the industry to select from.

These forex trading brokers will all allow you the chance to trade in micro-lots which are 0.01 of a standard lot. This is a great option if you are looking for an opportunity to trade within a lower risk area.

Although many brokers may claim to offer trading in micro-lots and even smaller in the case of nano lots, though only a few will offer dedicated micro-accounts. These are the micro trading brokers that we will list for your knowledge.

Micro lots vs micro accounts

Delving deeper into the trading experience to find out exactly what are micro-lots and micro-accounts and what can you as a forex trader get from them, we can see that micro lots allow you to trade for a minimal fraction of a standard lot. As mentioned above, a micro lot is 0.01 of a standard lot size.

Taking this into account, where a standard lot on any of the forex currency pairs would cost $100,000 to trade with 1:1 leverage, a micro lot would cost $1,000 with the same leverage. These types of lots are pretty much offered by every forex broker nowadays. Then you have micro accounts.

Within a micro account for forex trading, you can often trade in smaller lots than even the micro lot, a nano lot, or 0.001 of a standard lot is typically available on these accounts. This would lower your real money trading cost to $10 per nano lot using the same calculation as above.

This low risk is only slightly more than you would experience with a forex demo account and is great for those looking to start out. If you are looking for a low risk, no minimum deposit broker, then look no further than our low no minimum deposit broker top 10.

Top 6 micro account forex brokers

Here are what we believe to be some of the best micro account forex brokers for you to choose from:

When it comes to micro account trading brokers, one of the best choices in the industry is XM. They offer a range of great account types that can ideally fit with any trading strategy. Through this broker you can access not only micro accounts, but also XM standard, XM zero, and XM ultra-low accounts (these last 2 are not available to all the entities of the group).

Within the XM micro account, you can trade lots as small as 10 units through both MT4 and MT5 trading platforms. With a minimum deposit of just $5 to get started with a micro account or a standard account, there is great value to be had. Minimum deposits on both the ultra-low account and zero account of $50 and $100 respectively are also very competitive and with no deposit fees in most cases. Beyond that, the broker also offers the use of an unlimited demo account.

Why should you open an account with XM?

The broker offers a very competitive low minimum deposit starting at just $5
XM spreads are very low
they offer a small lot size within their accounts to cater for lower-risk trades.

2. Oanda

Moving on to the next top micro account broker in our list we reach oanda. With this broker, while there is not a wide range of accounts to choose from with only one available, you can benefit from the fact there is no minimum deposit at all.

Within this account type, since oanda does not offer what you would term as standard-lot trading in forex, there are opportunities to engage in micro trading. This is due to the fact that you can trade as little as one unit of currency with oanda. This is the lowest value trading possible anywhere.

The trading platform made available through the broker is the known and trusted MT4. Alongside this micro-trading opportunity, you can benefit from an unlimited demo account made available for completely risk-free trading.

Why should you open an account with oanda?

Oanda has the lowest lot-size available anywhere to facilitate micro-trading
the typically zero minimum deposit eliminates a big barrier to entry for many forex traders.
Your oanda account can be linked to zulutrade to allow for copy trading. (zulutrade requires a $100 minimum deposit.)

3. Fxopen

The third broker we have identified that allows for you to open a true micro trading account is fxopen. Beyond the micro account trading that they do offer, the broker also provides STP trading and an ECN account to get you some of the best prices on the market as well as a separate account for trading cryptocurrency pairs.

Within the micro trading account, you can look forward to trading as low as 1 nano lot or 0.1 micro lots which is equal to 100 currency units. This is great for new or low-risk traders and a minimum deposit of just $1 is available for micro-trading accounts. If you are interested in another account type then the minimum deposit is still highly competitive at just $10, or $100 for an ECN account.

With no deposit fee in the majority of cases and both MT4 and MT5 trading platforms available, the broker facilitates for a very wide range of traders and trading types. While fxopen demo accounts are available, this does not, unfortunately, extend to the micro account type.

Why should you open an account with fxopen?

Fxopen makes forex trading available for a very low minimum deposit across all account types.
Zulutrade linking of your account is also available although zulutrade does require a $100 minimum deposit.

Forex brokers with micro accounts but no smaller trading sizes

While the above brokers facilitate micro trading accounts and trading in both micro trading lots and smaller. The next three brokers in our list, while still being some of the best forex micro trading broker options around, offer micro accounts but a smallest trading size or 0.01 standard lots only.

4. FBS

The next broker worth considering if you wish to engage with a micro trading account which is highly respected is FBS. Along with being a top micro trading broker, they also offer standard trading accounts with a minimum deposit of $100.

The micro account at FBS comes with a minimum deposit of just $5 to facilitate great value trading opportunities although these accounts are not currently available for traders within europe. They are available to traders in other jurisdictions though.

FBS does impose a minimum trade size of 1 micro lot across both of these account types and a very well-equipped demo account is provided to allow you to try forex trading in a completely risk-free manner for a 90-day period that is extendable.

Why should you open an account with FBS?

The broker offers both variable and fixed spreads that start from just 3pips, giving you a range of trading options.
As a non-european trader, the minimum deposit is very low.
The broker is a particularly excellent choice for those forex trading from indonesia.

5. Hotforex

With hotforex micro trading accounts, there are a total of 8 account types you can select from. Both the standard and micro account types with hotforex will facilitate micro lot trading. Within the broker, you can look forward to a competitive minimum deposit of $50 which rises to $100 if you plan on opening a standard account type.

In the majority of cases with hotforex there will be no deposit fees at all. While you are trading with this broker, you will also be using the well-liked and trusted MT4 trading platform from metatrader. There is also a copytrading service that the broker makes available. This does require a minimum deposit of $300 if you want to copy the trades of others, or $1,000 if you want to be copied.

On top of all of these features, at hotforex, you can benefit from the use of an unlimited demo account for completely risk-free trading.

Why should you open an account with hotforex?

The availability of up to 8 different account types gives you a really wide range of positive choices when it comes to micro trading.
The copy trading service can be very useful to those new to the industry or who want to take any stress out of making their own trades.

6. Octafx

Finally in our collection of top micro trading brokers, we have octafx. They also make several micro trading accounts available for use. These include their standard, ECN, ctrader, and micro account types. All of these accounts cater for you very well if you are a forex trader interested in micro trading.

When it comes to a minimum deposit with octafx this stands at $100 if you are opening a micro account or a ctrader account type and $500 with the ECN account. Within these accounts with the exception of the ctrader account, the MT4 and MT5 trading platforms are available.
Beyond that, octafx also offers a copytrading service for your use. This can be great if you want to follow the trading patterns of others or have them follow yours.

Octafx also provides for an unlimited, risk-free demo account within which you can experience real market conditions and completely free deposits for forex trading in most cases.

Why should you open an account with octafx?

The broker offers a choice of spread type, fixed and floating. This means there should be something to suit all types of trader.
Both spread types are very competitive for all traders with the floating spread starting from just 0.4pips and the fixed spread from 2pips.
The copy trading service offered by the broker gives you another angle to approach the forex trading industry from.

Explained: filing small and micro-entity accounts

Sarah dunn of the ICAEW financial reporting faculty considers some of the quirks of the new filing regime for small and micro-entities

When the new filing regime for small companies first came into effect for accounting periods beginning on or after 1 january 2016, much of the initial attention was on the big headline changes. For example, the removal of the option to file an abbreviated version of the full accounts, and the introduction of a new option for small companies to prepare and file an abridged balance sheet, abridged profit and loss account, or both. Perhaps unsurprisingly, over time the attention has gradually moved towards the more detailed elements of the new regime. This article highlights some of the areas that have so far generated the greatest volume of questions for the financial reporting faculty.

Micro-entities and filleted accounts

On the surface, the filing rules for a micro-entity are relatively simple – a micro-entity is required to file the same accounts as those prepared for its members. It can choose to not file the profit and loss account, i.E. It need only file its balance sheet, including the information disclosed at the foot of the balance sheet, at companies house. Such accounts are often referred to as “filleted accounts”.

There has, however, been some confusion over the statements required when a micro-entity chooses not to file its profit and loss account. In this instance, the balance sheet must contain a statement that the accounts have been delivered in accordance with the small companies regime (as there is no separate micro-entity filing regime). This should not be confused with the separate statement required on the balance sheet to explain that the accounts have been prepared in accordance with the provisions available to micro-entities.

This latter statement is required by all entities applying the micro-entities regime and should appear in a prominent position on the balance sheet above the signature. Although a relatively minor point, it is worth bearing in mind as it has tripped some up when filing their micro-entity accounts.

Audited accounts

Things can also get slightly complicated when a small or micro-entity is audited. Under the rules, an audited small or micro-entity that chooses to file its profit and loss account, must also file its audit report.

Regulation what challenges might you face in applying IFRS 16 leases?

Business spotify, carillion: price is what you pay, value is what you get

However, an audited small entity that does not file its profit and loss account at companies house is not required to file its audit report. Instead, the notes to the balance sheet filed must disclose certain details about the audit.

On the other hand, while an audited micro-entity that chooses not to file its profit and loss account is similarly not required to file the audit report at companies house, unlike an entity in the small companies regime, the micro-entity is not required to include a note to the balance sheet regarding the audit. Therefore, rather surprisingly, there is no indication in the filed micro-entity accounts that they were subject to audit.

Other matters

Another area that has generated some considerable debate and uncertainty relates to the statements required in the filed accounts of a small company that chooses not to prepare its accounts in accordance with the small companies regime but still chooses to deliver its accounts to companies house in accordance with the small companies regime I.E. To file filleted accounts. The faculty is investigating this issue at the time of writing.

Further guidance on the filing requirements for small entities, small llps and micro-entities can be found in the faculty’s suite of faqs at icaew.Com/ukgaapfaqs .

Sarah dunn is a technical manager in ICAEW’s financial reporting faculty.

The ICAEW academy of professional development can help support your training needs through professional CPD courses, covering topics from UK GAAP to IFRS, quick month-end and communication skills. Use the academy course finder to help you identify the right courses for you.

Credit checking - how to read micro or short form accounts

Small company accounts filed at companies house only show short form or micro balance sheets but that is all you need to check credit worthiness.

How to read micro accounts

When dealing with business customers on open credit terms it is essential that you can be sure they can pay your invoices on time or even pay them at all.

The way to do this is to check their filed accounts through the companies house website. The majority of those accounts however are in short form, meaning that . While profit details are going to be absent the much more important balance sheet details are not. It is the balance sheet that tells you about risk, not profit and loss.

To begin with, here's an example of a short form or micro balance sheet you will find on companies house website.

Fixed assets	15,500
current assets	93,250
creditors due within 1 year	-88,500
net current assets / (liabilities)	4,750
creditors due after 1 year	-6,250
net assets	14,000
capital & reserves / equity	14,000

Working capital; current ratio

The number that counts is net current assets (current assets less current liabilities) describing in turn the working capital of a business: it defines financial liquidity; the sole source of cash flow from core trading.

If working capital is in deficit, it means that a business's cashfow will be insufficient to service all of its debts as and when the time comes to pay.

The true value of equity / net assets

The bottom line of the balance sheet is net assets / equity, also known as net worth. However this rarely, if ever represents its true monetary value.

Fixed assets often play a large part in the vaue of net assets though. While recognised as essential to enabling operating activity, they also represent cash and financial resources that are not going to be available for paying the bills.

Worse still, the depreciated values of fixed assets are almost always higher than their true values in the event of a fair sale. In some cases, assets such as "improvements to leasehold properties" will have had zero cash value from the very start. This is why "net worth" should not be relied on when assessing credit worthiness.

No matter how big are net assets, working capital measures whether or not a company can be regarded as a good risk for open credit terms - nothing else.

Late filing of company accounts

Apart from the annual accounts, companies house also lists the dates upon which the next filings are due plus notes to advise where a company's filings are overdue. There can be many reasons why filings are overdue - none of them good.

Forecasting and planning liquidity with figurewizard

Follow the links below (especially for the interactive what-if calculator to see how figurewizard makes it possible for you to forecast liquidity as well as profits, balance sheets among the thirteen foreasts figurewizard produces. This is done quickly and efforlessly, from nothing more than your estimated figures for sales, margins, overheads, investment.And a few simple ratios.

All you have to do is enter those estimated figures. Figurewizard does the rest, incuding automatically calculationg and applying VAT and corporation tax.

Credit checking - how to read micro or short form accounts

Small company accounts filed at companies house only show short form or micro balance sheets but that is all you need to check credit worthiness.

How to read micro accounts

When dealing with business customers on open credit terms it is essential that you can be sure they can pay your invoices on time or even pay them at all.

To begin with, here's an example of a short form or micro balance sheet you will find on companies house website.

Fixed assets	15,500
current assets	93,250
creditors due within 1 year	-88,500
net current assets / (liabilities)	4,750
creditors due after 1 year	-6,250
net assets	14,000
capital & reserves / equity	14,000

Working capital; current ratio

If working capital is in deficit, it means that a business's cashfow will be insufficient to service all of its debts as and when the time comes to pay.

The true value of equity / net assets

The bottom line of the balance sheet is net assets / equity, also known as net worth. However this rarely, if ever represents its true monetary value.

No matter how big are net assets, working capital measures whether or not a company can be regarded as a good risk for open credit terms - nothing else.

Late filing of company accounts

Forecasting and planning liquidity with figurewizard

All you have to do is enter those estimated figures. Figurewizard does the rest, incuding automatically calculationg and applying VAT and corporation tax.

Micro account forex brokers

Micro accounts that are offered by various brokers allows live trading made up of contracts or on forex markets, while the trading process itself performed through micro lots equivalent to 1,000 units of the base currency or asset.

Which means instead of trading a full unit, the trader gets an opportunity to speculate on the price through the initial low balance and small capital requirements which decreases dramatically the risks involved.

According to the allowed and offered leverage by a particular broker and his regulatory restrictions, the trader still achieves a quite good bunch of trading opportunities or options, and even run long-term positions.

Another potential of the micro accounts are technological trading practices, as the traders who would like to test their algorithms, robots or strategies are in need to trade within the real environment, however while limiting potential losses.

Recently among the leading regulated brokers that offer setting trading with micro accounts and the minimum deposits from only 1$, along with the numerous possible advantages bringing an exciting opportunity to access minimal transaction volume, yet engage into the real trading.

Micro account is a popular choice among the beginning traders and usually chosen with the purpose to engage into the real trading environment without a significant amount of investment.

Nevertheless, the micro accounts under very high levels of leverage might be very tricky, thus you should choose carefully the broker you deal with and choose among reputed regulated brokers. As the unscrupulous, non-regulated or offshore brokers may easily manipulate trades and blow accounts even with an attractive offering, as they are overseen by none of the authorities.

Compare forex micro accounts

For our micro accounts comparison, we found 14 brokers that are suitable and accept traders from united kingdom.

We found 14 broker accounts (out of 147) that are suitable for micro accounts.

Avatrade

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About avatrade

Platforms

Funding methods

79% of retail investor accounts lose money when trading cfds with this provider.

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About XTB

Platforms

Funding methods

82% of retail investor accounts lose money when trading cfds with this provider.

Axitrader

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About axitrader

Platforms

Funding methods

68.5% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

XM group

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About XM group

Platforms

Funding methods

78.04% of retail investors lose money when trading spread bets and cfds with this provider.

City index

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About city index

Platforms

Funding methods

72% of retail investor accounts lose money when trading cfds with this provider

Easymarkets

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About easymarkets

Platforms

Funding methods

83% of retail investor accounts lose money when trading cfds with this provider.

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About GKFX

Platforms

Funding methods

81.75% of retail investor accounts lose money when trading spread bets and cfds with this provider.

Admiral markets

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About admiral markets

Platforms

Funding methods

83% of retail investor accounts lose money when trading cfds with this provider

Core spreads

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About core spreads

Platforms

Funding methods

66.6% of retail investor accounts lose money when trading cfds with this provider

Forextime

Spreads from

What can you trade?

Forex

Crypto currencies

Indices

Commodities

Stocks

Etfs

About forextime

Platforms

Funding methods

Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

The ultimate guide to

Forex trading with micro accounts

The demand for micro accounts when trading forex is particularly high with new traders. Mini and micro accounts have remained an essential part of the forex trading business, and that is why a majority of brokers provide them.

Trading forex with a micro account makes it possible for traders to start trading with a smaller amount of capital. Traders also sometimes use micro accounts to try out new brokers with a live account whilst reducing the risks.

With micro accounts, traders can open trades with contract sizes starting from 1,000 lots rather than the larger 100,000 standard lot. This allows traders to refine their trading strategy with smaller deposits before moving to larger account sizes.

It used to be the case that with smaller micro accounts the leverage offered by brokers is often larger, but this has since been changed with ESMA limiting the amount of leverage offered to traders to a maximum of 1:30 on major forex pairs for less experienced traders.

Below, we have compiled a top five list of top regulated brokers that offer accounts to make micro trades (1,000 lot contract size).

1. Brokernotes’ popular micro account broker: avatrade

Avatrade gets credit as the broker that brought digital currency trading into the market. It is also among the first brokers to introduce CFD trading. The requirement for a minimum deposit is £100. Traders can make deposits through wire transfer, neteller, paypal, or credit cards.

The broker facilitates trading on the avatrade platform, which offers various features and customisation options. When trading forex, a trader does not have to pay for the advanced trading tools, just the spreads. There is also the availability of the platform on mobile devices. The ireland-based broker operates under EU regulations.

2. ETX capital

The minimum deposit a trader needs to open a live account with ETX capital is £100, and there is only one account type available; the standard account. There is a demo account as well that traders can use before opening a live account. The broker offers competitive spreads and lot of 0.01.

Traders have access to three trading platforms; traderpro, MT4, and ETX binary. ETX capital is a forex and cfds broker with licensing from the FCA in the UK. More than 5,000 markets are available for traders, which include currency pairs, shares, and indices.

3. London capital group

LCG has been operating since 1996 and is FCA regulated. One of the reasons traders prefer it is because its holding company is traded publicly on the london stock exchange. £1 is the minimum deposit that a trader can put in.

Trading is on the MT4 platform with 39 currency pairs, indices, and commodities. Payment methods supported by the broker include skrill, paypal, and major credit cards. LCG includes low commission charges in the spread when trading and traders don’t get hidden fees. It offers one account type and demo.

4. Plus500

The minimum deposit requirement when trading with plus500 is £100. Traders can deposit funds through wire transfer, moneybookers, visa, or mastercard.

The broker is listed on the LSE. Clients can access a trading platform that provides real-time analyses and allows trading in multiple markets. There are other features available that traders can use when making their trading decisions. Plus500 is not available to US clients.

Micro account FAQ

What are micro accounts?

Micro accounts are one of three types of forex trading accounts, the other two being the mini account and standard account. With a micro account, a trader can trade with a contract size of 1000 units of currency. This type of trading account is mostly utilised by beginner traders as it lets them trade the forex market without having to risk a substantial amount of trading capital.

What is the difference between a micro account and a mini account?

The difference between a micro account and a mini account is the contract size. While the contract size for a micro account is 1000 units of currency, the contract size of a mini account is 10,000 units of currency. Furthermore, with each account comes different benefits and trading conditions. So, for instance, you may get offered lower spreads and a higher leverage with a larger account type.

What is the difference between a micro account and a standard account?

The difference between a micro account and a standard account is the contract size traded. With a micro account, the contract size is 1000 units of currency whereas, with a standard, the contract size is 100,000 units of currency. In addition, most micro accounts do not have a minimum deposit whereas standard accounts generally require a minimum deposit of a few thousand dollars.

Who are micro accounts good for?

Micro accounts are good for beginner traders as it lets them trade with a smaller investment capital and hence enabling them to manage their trading risks better. At the same time, micro accounts also help traders to limit their trading losses.

What are the advantages of a micro account?

The key advantage of a micro account is the fact that it enables a beginner trader to limit his trading losses while having exposure to real life market experiences. It is, therefore, an ideal way for a new trader to practice trading in the markets, without risking large amounts of capital.

What are the disadvantages of a micro account?

The main disadvantage of a micro account is the fact it limits your profit potential, as you will be trading with just a small investment capital. In addition, the spreads on a micro account are normally higher than a standard account.

Micro account vs demo account for testing?

In forex trading, demo accounts allow traders to trade the market with virtual money. Demo accounts give traders experience without them having to risk any money. However, because demo account users are trading with virtual money, they will not be able to actually experience how it feels to actually lose or profit a trade with real money. In effect, it negates the psychological aspect of trading. With a micro account, a beginner trader can feel how it is to trade in real life with real money, with real risks, while still only risking only a small portion of their capital.

Is the micro account right for you?

The suitability of a micro account will depend on your trading objectives. If you are aiming to gain more trading experience while risking minimal investment capital, then the micro account will be a good fit for your trading objectives. However, if your trading objectives are lower trading costs and higher profit potential, then the micro account might not be a suitable trading account for you.

Why choose avatrade
for micro accounts?

Avatrade scored best in our review of the top brokers for micro accounts, which takes into account 120+ factors across eight categories. Here are some areas where avatrade scored highly in:

12+ years in business

Offers 250+ instruments

A range of platform inc. MT4, mac, mirror trader, zulutrade, web trader, tablet & mobile apps

24/7 customer service

Tight spreads from 0.70pips

Used by 200,000+ traders.

Avatrade offers four ways to tradeforex, cfds, spread betting, social trading. If you wanted to trade EURUSD

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

Avatrade have a AAA trust score. This is largely down to them being regulated by central bank of ireland, ASIC, IIROC, FSA, FSB, UAE and BVI, segregating client funds, being segregating client funds, being established for over 12

Trust score comparison

avatrade	XTB	axitrader
trust score	AAA	AAA	AAA
established in	2006	2002	2007
regulated by	central bank of ireland, ASIC, IIROC, FSA, FSB, UAE and BVI	financial conduct authority	financial conduct authority and ASIC
uses tier 1 banks
company type	private	private	private
segregates client funds

A comparison of avatrade vs. XTB vs. Axitrader

Want to see how avatrade stacks up against XTB and axitrader? We’ve compared their spreads, features, and key information below.

So, let's see, what we have: A micro account caters primarily to the retail investor who seeks exposure to foreign exchange trading, but doesn't want to risk a lot of money. At micro account