Gold Trading Account Types Described
The Two Types of Gold Trading Accounts are:
Standard Gold Trading Account Micro Gold Trading Account
XAUUSD Account Types Discussed
What is an account type in xauusd trading? - Gold Trading Account Types ExplainedThe type of xauusd trading account you open will depend on what type of trader you are & how much capital you want to invest in Gold Trading.
The two common Gold Trading Account Types are:Standard Gold Trading Account Micro Gold Trading Account
Trading XAUUSD Start a XAUUSD Trading Account
To Start a Gold Trading you will need to open a xauusd trading account from an online xauusd trading broker.
How to Open a Real Gold Trading Account on MetaTrader 4
- Download MetaTrader 4 Gold Trading Platform
- Install MetaTrader 4 Gold Trading Platform on your PC
- Open MetaTrader 4 Gold Software on your PC
- Click on the File Menu and Choose Open an Account
- Choose The Real Trading Account Option
- Fill in the real gold trading account opening form
- Enter you account gold login credentials for the gold trading account
- Trade Gold from the free MetaTrader 4 gold charts provided
Start Gold Trading by Opening a Trading Account
Gold Trading Account Types Described
XAUUSD Account Types Discussed
A Standard gold account is denominated in US Dollars & transactions are placed using standard lots provided for by gold trading standard account brokers. One lot is also known as a one contract. Minimum opening capital - at least $10,000 USD.
1 standard lot gold trading or 1 contract refers to the minimum size of a single gold trade transaction. This option is the most suitable for investors with a enough capital to invest - this option requires $10,000 to $50,000 dollars in starting capital, for this xauusd trading account the investor will not be undercapitalized & with good gold money management guidelines and gold money management strategies, this option has the highest chance for profitability because it is not undercapitalized. Under capitalization is what makes most investors not profitable in xauusd trading.
It is not recommended to open a standard gold trading account unless you have a balance of at between $10,000 minimum & $50,000.
Professional Money Managers recommend $50,000 Dollars minimum to open this standard xauusd trading account and only opening 1 or 2 lots maximum per every $50,000 dollars you have. However, most gold trading online brokers will still open this standard xauusd account for you if you have more than $10,000.
2. Micro XAUUSD Trading Account
Micro Gold Accounts are provided for by gold trading micro account brokers. These Micro xauusd trading accounts are often appropriate for investors without a lot of capital & can sometimes be opened with only a $100 minimum account balance.
This Micro gold trading account option allows the trader to open trades in micro lots. 1 micro is one - tenth of a mini and one hundredth of a standard gold trading contract.
This micro xauusd account is generally best suited for account equity balances that are between $1,000 and $5,000
Can I Start gold trading with $10? - How to trade gold with $10 Open gold trading account with $25 trade gold trading with 50 dollars How to trade gold with $100gold trading with 200 dollars
To start gold trading with minimum capital use this Micro Gold Trading Account
Gold Trading sign up of any of these xauusd accounts is provided by online xauusd trading brokers.
In Gold, one lot is the standard trade transaction minimum of gold. But many online gold brokers offer fractions of this standard lot to enable more retail xauusd traders to access the gold market. Being able to offer micro lots reduces the minimum trade transaction size thus giving the beginner traders and also those without a lot of capital to start investing with an opportunity to get a feel of the xauusd market.
There is availability of online gold tutorials that trader can read even before opening an account, & to get extra practice in trading at no risk a beginner trader should open a practice Gold practice account with a xauusd broker. Practice money is equivalent to money of a game of monopoly and therefore traders can practice placing gold trade transactions without investing and depositing real money.
