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The so called “Mini Account” is usually favored by beginners in forex trading since the minimum deposit requirements could be as low as $1. Of course we all welcome the small amount of investment, but usually mini accounts are accompanied by higher pip spreads. So if your agenda is to trade with tight spreads such as 3 pips or lower mini account terms will most probably disappoint you. Besides spreads mini account might have different leverage options, less currency pairs to choose from, smaller trading lot size, different margin requirements, different trading platform or less trading tools and even less support.
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