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The difference between micro, mini and standard accounts

What is a micro account?

The Micro account mainly caters to the retail investor who is looking for exposure to forex trading but does not want to risk a lot of money. The smallest contract of the mini account also called the mini lot is a predetermined amount of 100 units of currency, this is the difference between micro, mini and standard accounts.

The minimum size that a trader can trade is one mini lot while the maximum size usually varies depending on the number of shares in the account.

A micro account, a common type of account that basically allows retail investors to access the forex market, it's one of three types, the other two being micro and standard.

The micro account is usually used by novice traders but can also be used by experienced traders to test strategies in real market settings and invest money online.

In forex micro, lots are equal to 100 units of the base currency. A standard account lot is equal to ten mini account lots, which is equivalent to ten micro account lots.

  • 1 micro lot = 100 currency units
  • 1 mini lot = 10 micro lots = 100 currency units
  • 1 standard lot = 10 mini lots = 100 micro lots = 100 currency units

Depending on the type of leverage the investor wants to use, it is still possible to make significant gains with a micro account with large leverage, and although losses can be amplified as well, these accounts help beginners deal with trading and exposure to market fluctuations all while learning the basics of managing Risks.

The main reason investors open micro accounts is that it provides even small traders with the ability to trade like a pro, and a potential trader can buy and sell forex pairs in the same way as anyone using a standard account but with a much smaller stock stake.

Most mini accounts do not have a minimum deposit and even if they do it is usually a nominal amount like $50 on the other hand, standard accounts generally have a minimum deposit of $500 to $100.

As with all account types, the minimum size a trader can handle is one lot while the maximum size usually varies with the amount of liquidity in the account, and with leverage, a trader using a small account can operate long-term trades that deal with volatility Prices in the short term.

Standard accounts are usually used by top traders and those who hope to earn a living, or significant income through forex trading.

The difference between micro, mini and standard accounts

Types of FBS account The types of accounts are three types of accounts, which are Micro, Mini, and Standard accounts.

Each of these account types offers completely different advantages over the other type and offers them to traders as follows:

  • Micro is for traders who prefer small trading volumes.
  • The Standard comes with standard trading conditions.
  • XM Zero mini has a trading cost as low as 0.0 pips.
  • As for the trading volume for micro and standard accounts

The main difference between micro and standard accounts is the trading volume.

  • As the size of 1 lot is different.
  • And the types of accounts are the size of one contract.
  • Micro 100 units.
  • Standard 100, 00 units.

1 unit is equivalent to 1 US dollar, 1 euro, 100 Japanese yen, and other currencies, and all of this is mentioned in the table of currency symbols and their abbreviations.

The minimum trading volume available for a micro account is only 100 units although it is 100 units for a standard account.

The available financial instruments are the same among the different account types (micro, mini and standard).

What does the XM symbol mean?

The following symbol, XM, stands for XM headquarters in Cyprus and is a forex broker, part of the best forex company that offers individual traders and institutional clients direct access to the markets and professional support for online forex trading.

Founded in 2009, XM has already become one of the fast-growing brokerage firms in Europe.

XM is a strong combination of long-term experience, commitment to high standards, and enthusiasm that creates a great trading environment for clients.

Operating on the NDD model, XM provides its clients with award-winning MetaTrader4 and MetaTrader5 platforms as well as competitive pricing feeds powered by XM's Integral liquidity provider.

XM is a trusted broker for all matters related to professional forex trading.

How to open an XM account and start trading

You must know the best times for currency trading and the difference between micro, mini and standard accounts, but you must first open a real account with XM by following these steps:

  1. Register and complete the online registration.
  2. Opening an XM account: Once the registration process is completed successfully, you can authorize the system and choose the option called Open a real account, choose the type of account you wish to open and fill out the registration form. Then the system will automatically issue a unique trading account number along with a password, and you can now start using the XM account. XM client to access his account.
  3. Trading has begun: To start trading, a deposit must be made in the client’s account in any way suitable for him.

Forex and MetaTrader

There are various types of forex trading contracts. MetaTrader is the most popular forex trading platform, and the most widely used in the retail forex industry. MetaTrader offers its users a wide range of tools for convenient and simple trading, as well as a unified trading interface between various forex brokers.

The most important functional feature of MetaTrader is its ability to execute trades automatically and they are referred to as Expert Advisors, and with XM it is possible to choose between MT4 and MT5.

Or choose both and compare platforms and find out the difference between micro, mini and standard accounts.

How XM can offer traders  

Before starting trading, you should know the trading times in the currency market, such as the trading times of currencies in Saudi time. XM will benefit from the availability of many liquidity providers because it will translate into the better mobilization of clients.

The compensation that the broker enjoys is usually from the spreads obtained from the chosen liquidity provider, or from the commissions charged for each trade.

Usually, XM selects the banks that trade in the market which are mostly market makers and offer fixed spreads, clients are provided by brokers with fixed and variable spreads, and every transaction processed through XM's STP platform is translated into profit for XM.

But since banks usually do not trade against their clients' orders the brokers simply make adjustments to the speed they receive from the liquidity providers after asking for a bid or ask quotation and the increase depends on a certain amount of fractional pips.

To avoid any problems during trading, you should start with the XM Virtual Demo Account for Risk-Free Trading and the XM Demo Account, which is a virtual account that provides the trader with an opportunity to experience trading in real-time using the MetaTrader4 and MetaTrader5 trading platforms to transact in the financial markets available at XM.

XM Demo Trading Account Uses

  • An XM demo trading account can be used to:
  • Familiarity with the XM MT4 and MT5 trading platforms.
  • Open a virtual account for an unlimited period.
  • Open an unlimited number of accounts.
  • Track changes in instrument prices in real-time.
  • Carry out trading operations manually and using trading advisors.
  • Develop and try different trading strategies.
  • Receive operational information about global markets.
  • Participate in trading competitions conducted by the company and obtain financial prizes.

What are the differences between real XM Live accounts and demo accounts

The differences between the real XM Live accounts, and the demo accounts are as follows:

  1. Trading using virtual money and working with numbers.
  2. Profit and loss gained through trading are not real because you trade with virtual money and a demo account.
  3. When opening a demo account where the deposit size can be determined for the most realistic scenario and we recommend setting the amount that the client would like to deposit as soon as he starts trading with a real account.

How to deposit in XM

How to deposit in XM are as follows:

  • using electronic payment methods.
  • Carry out cash transactions in dollars and euros by choosing the method most comfortable for the customer.
  • During the transaction, the selected currency may differ from the currency in which the trading account was opened.
  • If the payment is received in a currency different from the currency of the trading account, it will be transferred by the financial department at XM according to the current market prices and transferred to the trading account in the currency in which the trading account was opened.
  • XM cannot accept payments or make transactions with any third party and only the owner of the trading account has the right to fund and withdraw instruments from the account.

How to open an account with XM and trade forex and CFDs

XM is a European company that fully complies with the legislation of each country and unlike market makers, XM is a true NDD broker to make clients profit and succeed.

XM's dedicated servers, the latest high-tech software, ensure market-leading response times, highly efficient order execution, and the highest level of liquidity.

All together with XM's passion for advanced forex trading makes them a preferred broker for traders from all over the world.

The XM team is happy to welcome each new client and provide them with the best possible support in their native language.

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