What is the Mini Account
The Mini Trading Account was designed for those new to online foreign exchange trading. There is a smaller deposit required to open an mini account than a regular account because trading sizes are 1/10th the size of a regular account. The smaller trading sizes enable traders to take smaller size risks. The Mini is intended to introduce traders to foreign exchange.

Minimum Account Size
The minimum amount that is required to open a Mini trading account is $300. Of course, due to the high leverage and the extremely volatile nature of the FX market, the recommended trading account size is a minimum of $2,000. The minimum transaction size is US $10,000 (one lot). This means with $50 margin deposit you can place a $10,000 position in the market.

Difference between Regular and Mini Account
With a mini account, traders use the same state of the art trading platform as a regular trading account. The difference between the mini account and the regular trading account is the trading sizes, which are 1/10th the size of a regular account. The pip value is approximately $1 on the major currency pairs and their crosses.

Trading Sizes
On the Mini trading platform all trades are executed in standard sizes of 10,000 base currency per one lot. There is no maximum trading volume on the Mini trading platform.

Trading Cost: Commission Free Trading
Phi Capital Management users can trade currencies online and pay no commission. This is available to all Phi Capital Management users regardless of account balance or trade size.

Margin
Clients must maintain $50 in the account for each lot of currency being traded. This amount does not change after 5:00 PM EST, which is the rollover cut off, but stays constant at $50 per lot the entire day and overnight. One lot is valued at approximately $10,000. There is also an important safety feature imbedded in this system, which prevents the clients from losing more money than they have in the account. Once the account falls below $50 per lot, all positions are closed, and this acts as a final stop for those that have not set stop-loss orders to close losing positions.

Learn more about Mini Account
Click here

Mini Trading Procedures:
1) Download the Mini Software
2) Register for a Mini demo account

Open a Mini Trading Account
To open a Mini Account, please click here.