Forex Brokers - the Perfect Service for Novice Traders

by : Kelly Price

If you are considering trading with a forex broker, here is news of a service that is great for seeing if you have what it takes and is much more realistic than a demo account. If you are interested in trading and worried about the risk, then these accounts look a great way to get started.

A protected account introduces potential traders to the lucrative world of currency trading - but unlike a demo account, allows them to feel what trading is really like with limited risk.

For a set period they get to trade as much as they like with a set leverage and can even trade with a negative balance at the end of the set period - any profits the trader keeps any losses the broker covers.

Low Initial Deposit

These accounts can be traded with a small amount and the only risk is the initial deposit and unlike a real trading account, if you go debit you still can trade for the period the account is set up for.

Leverage and Low Risk

At any point during the two-week period, a trader may control up to 100 times his initial deposit, regardless of the actual balance in the Protected Account. The trader may make as many trades as desired, 24 hours a day, using any currency pair.

At The End of The Period - clients Takes Any Profits Broker Covers Any Losses.

Positions are closed automatically at the end of a set period normally after two weeks.

If there is a positive balance, it will be transferred to the forex trader's regular account. If there is a negative balance, the broker covers it.

Getting the Feel Of Trading With Limited Risk

A regular demo account, though a very useful tool, for learning a trading platform or the basics of trading does not simulate the feeling of trading real money.

A Protected Account acts as a step up between a demo account and a real one, providing an authentic trading experience, with managed risk which many traders want, so they can test their skills before opening a full trading account.

Any trader will tell you that trading with money on the line is totally different to trading a demo account, as your emotions are involved, discipline needs to be kept and this is why 90% of traders who win with a demo account lose real time. A protected account lets traders feel what its like to trade for real, with a small risk, unlimited trades and limited risk in the period which is a great way to see if currency trading is for you.