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Online Trading Brokers - "Forex Brokers - the Perfect Service for Novice Traders" (Continued)
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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.
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