Do you know what types of forex trading accounts are available

With the further opening of the financial market, forex trading forexbrokerrebateprogram becoming more autorebateforex more sought after, there cashback forex also many new forces to join the forex margin industry and want to engage in forex trading, you first need to open a forex forex broker rebate program of their own, brokers provide a variety of forexrebatebest, what is the difference between these accounts, and what kind of traders suitable for What are the differences between these accounts and what kind of traders are they suitable for? Today I will introduce you to the common account types in foreign exchange margin trading 【Why are there different account types】 In our daily lives now, all walks of life, membership services, premium services have become commonplace, the financial industrys bank cards, credit cards are divided into various levels of cards, it seems that everywhere you go you can see the VIP channel The simple phrase, you are willing to pay more money, you deserve better service The foreign exchange industry and other industries are the same reasoning, brokers are the service providers in this industry resources are limited, brokers also want to be able to provide the highest level of service to the highest net worth of traders and, different traders needs are different, therefore, the Brokers generally provide diverse account types according to the type and needs of traders, in order to better and more accurately serve traders and also give traders more room for choice Specific account types that will vary depending on the broker, this article only introduces common types, specific to the broker to provide shall prevail [demo accounts and live accounts] & nbsp nbsp; Speaking of account types, we want to introduce the demo account and live account to this, the number of financial articles have been introduced before, the demo account is to allow traders to use simulated currency on the platform for virtual trading a way, is to allow traders to familiarize themselves with the trading process and the existence of the live account is the real trading trading account demo account and live account The difference will be in the server, spreads, liquidity, etc., but the general trading process is basically the same [individual investor accounts] for general traders, brokers will be classified according to their trader net worth, deposit amount, transaction mode, trading platform, etc., of which, the trader deposit amount to divide the most common according to The difference between these accounts is simply summarized: the higher the minimum deposit requirement, the larger the minimum trading unit of the order contract, the higher the account level, the greater the benefits or rights enjoyed (such as lower spreads, priority orders, rebates, etc.) Standard Account is a popular type of account standard account requirements today are generally more than $ 500, the order contract is usually 1 lot = 100,000 units of base currency but traders can adjust the number of lots according to their needs, the minimum number of lots to place orders for 0.01 lots and cents, micro and mini accounts are lower deposit standards of several accounts, micro accounts Deposit requirements in 50 or 100 U.S. dollars, mini account a little higher, micro account order contracts generally 1 lot = 1,000 units of base currency mini account order contracts generally 1 lot = 10,000 units of base currency cents account is in the form of cents rather than U.S. dollars deposit, its deposit requirements are very low, 1 U.S. dollars can be traded, is a more popular account in the past & nbsp nbsp;Usually, people who choose these types of accounts are mainly traders who have small amounts of capital, lack experience or are testing their new strategies. The traders are forced to choose this type of account, in this case, the trader should consider more carefully because if the available capital is too low, it will lead to a more unstable mindset of the trader, but also difficult to withstand the risks associated with market volatility, it is easy to blow up the position Professional accounts provide a more advanced trading environment, brokers usually provide professional accounts with no processor execution trading platform In addition, professional accounts have lower spreads and fees than conventional accounts In addition, professional accounts have lower spreads and fees than conventional accounts, however, the popularity of these accounts is also smaller Generally speaking, the minimum deposit requirement for professional accounts is around $1,000 VIP accounts, or some brokers will also provide platinum accounts diamond accounts and so on, deposits are generally more than $1000 or $5000 These accounts generally provide some additional services, such as 24/7 account manager service, more The actual fact is that you can find a lot of people who are not able to get a good deal on the actual money, but you can also get a good deal on the actual money. Understanding, there is a lot of money for investment, so these traders will choose to let professional financial institutions or individuals to provide financial services for customers, which also gave birth to the vicarious banking business The foreign exchange industrys vicarious banking-type accounts, or money manager management accounts, including PAMM accounts, LAMM accounts and MAM accounts three kinds of investors and account money manager in accordance with The agreed ratio between the two to allocate profits, the account managers income from the performance of the account PAMM account unified management: PAMM, that is, the percentage allocation management model, is a traders funds as a collection of management model trading and related profit / loss, interest and commission will be allocated in proportion, the account manager will also be in accordance with the proportion agreed with the investor to extract from The corresponding compensation for different accounts using the same trading strategy and leverage ratio of money managers will generally use PAMM account PAMM account consists of PAMMTrader (PAMM traders) and PAMMinvestors (PAMM investors), and in the absence of investors, the account can still operate PAMM account Trader and investors share the risk of funds in the account, most of the platform PAMM only in the case of profit, only to pay Trader management pay LAMM separate operations: LAMM, that is, the batch group (lot size) to allocate management mode account will be operated through a management interface to different accounts, each account is considered As money managers manage each clients account separately, the margin, profit and loss, and some other fees will vary from trader to trader with different accounts using different trading strategies or different leverage ratios. The LAMM account is rarely used, more of an argument is due to LAMM on brokers, liquidity providers and MetaTrader server burden is very large MAM follow account: MAM, that is, multi-account management system account equivalent to a master account, below a number of follow accounts, they are independent of each other, can be seen as a form of follow order investors only need to enter the transaction The total number of lots, the system will be in accordance with the investors choice of allocation to execute transactions, the number of lots automatically assigned to different individual investors account managers through a single trading account, you can quickly, efficiently and accurately for multiple investors to trade MAM generally has four types of orders, respectively, according to each order equal to the total volume, equal share, the net ratio, available margin ratio MAM accounts are suitable for investors with a high level of risk tolerance and market understanding The difference between MAMs and follow-the-money systems is that MAM investment is a way of allocation, sub-accounts and the main account trading in the same direction, sub-account orders trading lots are allocated, follow-the-money is not similarly limited As the market exists under the banner of vicarious banking, in fact, does not The company has the relevant qualifications, so traders should be cautious when choosing this method to examine many fraudulent nature of the vicarious individuals and institutions will promise very high returns or false insider information to attract traders, traders interested in such accounts, need to fully understand the risks involved, choose a trusted institution, clear rights and obligations of both sides [special account] nbsp; Finally, we would like to introduce a special account is a special account Islamic account because of the Islamic Quran in which there are restrictions on usury provisions, so Islamic accounts can be exempt from overnight interest special accounts for open positions overnight, all interest-free, traders can hold positions for long periods of time and multiple days, without having to pay interest on the funds deposited with the foreign exchange broker, affecting the final trading results only The only thing that affects the final outcome of the transaction is the change in the exchange rate