Nowadays it has become much easier to get access to trading in the foreign exchange and stock markets. There is no need to obtain special licenses or to possess a solid capital. The main stimulus for expanding access for retail investors was the introduction of leverage, which allows to trade even with a very small amount of money. Even 10 years ago the minimal amount of funds to start trading was $1,000. The situation has changed a lot and trading has become available to everyone. Brokers strive to give traders the opportunity to operate any amounts of money. For example, there is virtually no minimal deposit in Esperio, which is very convenient for beginners. When a person first enters the market, he is not ready to risk a lot of money, so the limits on the size of the deposit are of great importance. Let’s take a closer look at Esperio’s trading options and account types. We will tell you what minimal amounts are needed for each of them.
Classic Accounts
This category includes two accounts: Standard and MT5 ECN. The minimal size of a trading position that can be opened is 0.01 of standard lot. In dollars that is $1,000, but with the leverage available for these types of accounts is up to 1:1,000, which is about $1. Added a slight increase in the margin on the main EUR/USD pair due to the exchange rate and it will make up about $1.14, which can be defined as the minimal amount in Esperio for trading on these accounts.
Obviously, no one will act in this way, as the stop out is literally 8 points away. Accordingly, in order to comply with the rules of money management at least to some extent, it is necessary to use an amount 10 times larger. That is just over $10. Complete risk management is possible starting from $100. But if we talk specifically about the minimal account amount in Esperio for these account types, then it will be $1.14 for a euro-dollar pair. Regarding some other instruments, it will be even less, for example, for AUD/CAD or CAD/JPY pairs. It all depends on the basis currency.
Cent Accounts
This is a fairly common type of account that is used for different purposes. Some people cannot afford a large deposit at all, others are testing new strategies on real market conditions. The main advantage is that the account currency will not be a dollar, but a cent, hence the name of these micro-accounts. Accordingly, the minimal deposit amount is reduced by 100 times and allows you to trade literally with cents on your balance. Theoretically, 2 cents will be enough, but in reality, about $1 is acceptable for adequate risk management, as was mentioned earlier for classic accounts. The situation being the same with these accounts, the position step is 0.01 lots, but the lot itself is 100 times smaller than the standard one.
Investment Account
There is no leverage on this account. Accordingly, the requirements for the amount of the deposit are much higher. In this case, the exact amount cannot be named, since the shares have different prices and a different number of shares is included in one lot. Therefore, everything depends on the chosen tool. For example, 100 shares priced at $15 would require $1,500, while more expensive shares would require consecutively more money. Companies often make a split, lowering the investment amount threshold. This helps retail investors to operate.
The minimal deposit amount for investment depends only on the instrument. Here the margin requirements fully correspond to the open position. If the price of shares falls after they were purchased, this will not affect the available funds of the trader.