New traders often feel uncomfortable when they open a trading account with a brokerage firm. Major reason behind this is that they don’t know whether they are going to profit in their first attempt. However, if they invest comparatively less, their risk decreases to a great extent – understanding the requirement, HotForex has brought in Micro Account for such brokers.
In its announcement, the brokerage firm says that Micro Account is designed for traders new to the Forex market and those trading smaller volumes. It says that the HotForex Micro account allows investors to trade smaller trade sizes and open an account with a lower initial deposit than a Classic account all from the powerful MetaTrader 4 platform.
Some Rich Features
HotForex claims that it is committed to providing its clients with the best trading conditions it can and also offer them best in industry bonuses, leverages and tight spreads as well. Out of 9 different accounts to suit the specific requirements of different traders, Micro Account according to the brokerage firm is one of the most popular.
Though there are several features in the Micro Account that make it special for new traders, the one that is worth to mention is traders get three trading platforms e.g. MetaTrader 4, Webtrader and Mobile Trading. Thus, they can have access to trading platforms that allow them trade from anywhere in the world, even when moving from one place to the other.
If traders are more into tight spreads, Micro Account from HotForex is just the best suitable for them as here they get spreads from 1 pip and trade instruments like Forex, Indices, Commodities and Share CFDs. Regarding leverage, HotForex is definitely a broker that understand that new traders need higher leverage as it brings maximum leverage of 1:1000.
Whereas minimum opening deposit has been kept at USD $5, minimum trade size is set at 0.01 lot. Similarly, trade size increment is 0.01 and maximum simultaneous open orders are limited to 150. Another feature that is worth a mention is that traders get flexible bonus when they open Micro Trading account.