Minimum Deposit Metals Trading Brokers Accounts
If you are a trader wanting to open a live account & you are doing some research online to find out one or two things before opening, then you have come to the right training web site.
Open a live account is different than opening a demo. First as a trader you don't have unlimited money, maybe you only have $1000 dollars or $5,000 or $10,000 or you are rich and have $50,000 dollars to open one and start with.
First thing you need to select is the metals trading leverage you will be trading with, if you are good in trading metals you can choose 100:1 metals trading leverage if not then choose 50:1 metals trading leverage if you have not practiced with a demo then choose 10:1 metal trading leverage. The other thing is that even though you choose 100:1 metals leverage for your account: this does not mean that you will trade with all the 100:1 metal trading leverage, you will only use 5% of these metal leverage & only open trades with a maximum of 5:1 metal trading leverage. The remaining metals trading leverage will be used to maintain what is known as free margin; money required by a broker so as to maintain your open trade positions.
The other thing to know is what type of account you're going to open, depending on your capital you want to begin with:
If you have $1000 dollars or less
Open a micro metal account - with $1000 dollars it is best to only transact with micro lots, forget what your metals broker tells you, anything bigger than micro lots will only increase your risks to levels which you do not have enough capital for - Minimum Deposit Metals Trading Brokers Accounts - Metals Trading Brokers with Minimum Deposit Metals Accounts. If you want to keep your money & make profits with this micro metal trading account trade on micro lots.
If you have $10,000 dollars
Open a mini metal account - with $10,000 dollars you can open a mini metal trading account & transact only mini lots. Trading mini lots on a $10,000 capital is enough capital to allow you to trade & make profits without taking too much risk.
If you have $50,000 dollars or more
If you have $50,000 dollars or more then you have enough capital to open standard lots, & you can open a standard metal trading account. With $50,000 dollars then your capital is enough to trade standard lots without much risk to your capital. However, make sure that you have read this tutorial: metals trading money management and metals trading money management methods.
The other thing to know is that to open a live account you've to send to send to your metals broker a copy of Government Issued ID card & a copy of utility bill showing your physical 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 trading regulators that requires regulated metals brokers to get these documents before accepting a deposit from anyone. Also make sure you choose a regulated metals broker that way your money is safe.
