Micro and mini forex accounts are the training wheels of trading — smaller lot sizes mean smaller risk while you learn. Understanding them protects your account. Here is how they work.
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Lot Sizes Explained
- Standard lot: 100,000 units — about $10 per pip on majors.
- Mini lot: 10,000 units — about $1 per pip.
- Micro lot: 1,000 units — about $0.10 per pip.
Why Beginners Use Them
Micro/mini accounts let you practise real trading psychology and execution with tiny risk. A $100 account trading micro lots survives mistakes that a standard-lot account would not.
Scaling Up
Increase size only when your strategy shows consistent results and you can afford the larger exposure. Treat growing lot size as a promotion, not a prize.
FAQ
Which account is best for a beginner?
A micro account (or mini) with small deposits.
Do micro accounts have the same spreads?
Often slightly worse per lot, but the total risk is far lower.
Related: Start Forex Trading and Forex Success.