Forex is one of the most volatile yet profitable trading markets. The beauty of this foreign exchange market is that it offers people an excellent way to earn some extra money while sitting in the comforts of their home. Thus, some people tend to trade in the forex market as part-time traders whereas those with plenty of knowledge about this market indulge in full-time trading for earning huge returns. The forex market can provide individuals with high return, but they also have to take risks in order to get them. There are different types of accounts that can be opened by investors when they wish to trade in this market.
For instance, the Demo account is offered to those individuals who are new to this market and don’t have a lot of experience in trading currency. With this account, these individuals can practice their trades without losing any real money. However, there are also other accounts that are especially designed for experienced and skilled forex traders such as the forex VIP account. This is a service that’s only offered to individuals trading in large volumes and some high net worth traders. Forex traders who have a minimum transaction size of 0.1 standard lots can use the VIP account.
The benefits of this particular account can be reaped when a greater volume is transacted. Most of the traders aim for the forex VIP account because there are lots of additional services that are provided along with it such as exclusive news reports vial text messages and email, market recommendations and even Account Margin alerts that are directly sent to the mobile phones of traders. Here are some of the benefits that can be associated with a forex VIP account:
Dedicated Account Manager: VIP account holders can have direct access to experts who can provide assistance to the traders in regard to their inquiries and needs because they are aware of their account.
In-House Analysts: Traders having a VIP account also have the advantage of taking their problems to the in-house analysts of the platform or broker they are using. These analysts are specialists so they can aid traders in resolving and answering any queries they may have concerning the foreign exchange market.
The cost of trading can also be reduced when a VIP account is being used by forex traders.
As these accounts are available to high volume traders, they are able to benefit from negotiable commission rates, spreads and swap rates for that matter.
Another prominent benefit of the VIP account can be seen in the form of free virtual hosting on a private server so traders can be rest assured about security issues, latency and execution problems.
VIP account holders are also offered individual and segregated bank accounts.
Another prominent advantage is seen in the form of customized solutions as traders can make use of leading trading platforms in the market for executing their trade.
Thus, traders who are interested in high volume trading and have enough capital should opt for a forex VIP account.