Minimum Deposit Gold Brokers Accounts
If you are a trader wanting to open a live account & you're doing some research online to find out one or two things before opening, then you've come to the right training web site.
Open a live account is different than opening a practice. 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 gold trading leverage you will be trading with, if you are good in trading gold you can choose 100:1 gold trading leverage if not then choose 50:1 gold trading leverage if you have not practiced with a demo then choose 10:1 xauusd trading leverage. The other thing is that even though you choose 100:1 gold leverage for your account: this does not mean that you will trade with all the 100:1 xauusd trading leverage, you will only use 5% of these xauusd leverage & only open trades with a maximum of 5:1 xauusd trading leverage. The remaining gold 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 are going to open, depending on your capital you want to start with:
If you have $1000 dollars or less
Open a micro xauusd account - with $1000 dollars it is best to only transact with micro lots, forget what your gold 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 Gold Brokers Accounts - Gold Brokers with Minimum Deposit Gold Accounts. If you want to keep your money and make profits with this micro xauusd trading account trade on micro lots.
If you have $10,000 dollars
Open a mini xauusd account - with $10,000 dollars you can open a mini xauusd trading account and transact only mini lots. Trading mini lots on a $10,000 capital is enough capital to allow you to trade and 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've enough capital to open standard lots, & you can open a standard xauusd 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: gold trading money management and gold trading money management methods.
The other thing to know is that to open a live account you have to send to send to your gold 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 gold brokers to get these documents before accepting a deposit from anyone. Also make sure you choose a regulated xauusd trading broker that way your money is safe.
