The Allure of Funded Forex Accounts: A Gateway to Trading Success
Definition and Explanation A funded forex account is a type of trading account that is provided by a forex broker to a trader. The trader is given a sum of money to trade with, and they are required to meet certain performance criteria in order to keep the account. Funded forex accounts are typically used by traders who are looking to improve their trading skills and knowledge. They can also be used by traders who are looking to trade with a larger amount of money than they would be able to afford on their own. How a Funded Forex Account Works When a trader opens a funded forex account, they are typically required to make a small deposit. This deposit is used to cover the costs of the account, such as the trading platform and the broker's fees. Once the trader has made their deposit, they are given a sum of money to trade with. This amount can vary depending on the broker, but it is typically between $10,000 and $100,000. The trader is then requi...