Trade Gold Trading

Minimum Deposit Brokers Accounts

If you're a gold trader looking to open a live account and you're doing some research before jumping in, you're in the right place.

Real accounts differ from practice ones. Traders face limited funds, like $1,000, $5,000, or $10,000. Some have $50,000 to start strong.

The initial decision involves selecting your trading leverage. If you possess strong trading skills, a 100:1 leverage might be appropriate: otherwise, consider 50:1. If you haven't practiced sufficiently, opt for 10:1 xauusd gold trading leverage. Importantly, even if you select 100:1 leverage for your account, you are not obligated to trade using the full extent. It is recommended to use only about 5% of that potential, meaning opening trades with a maximum equivalent leverage of 5:1 for xauusd gold trading. The remaining leverage capacity is reserved to maintain what is called "free margin" - the capital the broker requires to keep your existing trade positions open.

It is also important to decide what type of account you're going to open, based on your initial capital and trading needs.

If you as trader have $1000 dollars or less

Open micro account - with $1000 it is best to only transact and trade with micro lots, forget what your broker tells you, anything bigger than micro lots will only increase your risks to levels which you do not have enough capital for - Brokers with Minimum Deposit Accounts. If you want to keep your money and make profits with this micro account trade on micro contracts/lots.

If you have got $10,000

Open mini account - with $10,000 you can open a mini account & transact only mini lots. The mini lots on a $10,000 capital is enough capital to allow you to trade & make trading profits without taking on too much risk.

If you have $50,000 or more

With $50,000 or more, you have capital for standard contracts. Open a standard trading account. This amount lets you trade standard lots with low risk to your funds. Still, read this tutorial on Gold money management and its methods first.

The other thing to know is that to open a real account you've to send to send to your broker a copy of Government Issued ID card and a copy of utility bill showing your physical residential address. Some traders are surprised when asked for these documents, but all traders send them before opening their account, it is a requirement by all regulators that requires regulated brokers to get these docs before accepting a deposit from anybody. Also make sure you select a regulated trading online broker that way your money is safe.

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