WPP Mini Trading Accounts

The Washington Prime Plus Mini account is designed to introduce traders and individual investors to the excitement of trading currencies online and for those with limited investment capital. With a Mini account, you trade using the same platform as our regular traders. With as little as $100, a trader can open a Washington Prime Plus Mini account and begin trading foreign exchange with Washington Prime Plus. On the Mini trading platform all trades are executed in standard sizes of 1,000 base currencies per one lot, 1/100th the size of a regular account. The smaller trade sizes enable traders to take smaller size risks. The Washington Prime Plus Mini account also serves to introduce clients to trading with Washington Prime Plus.

Smaller trade sizes pose several challenges to foreign exchange firms. There are two primary issues that have prevented firms from offering smaller trade sizes: high labor costs and risk management. Executing smaller size trades takes the same effort as executing larger trades. To offer smaller trade sizes, most firms would have to hire more dealers, which would make the cost exorbitant. The Washington Prime Plus Mini account features automatic execution for most accounts. All trades are executed without human intervention (just like a demo account). This keeps labor costs low. The second issue is risk management. The smaller size trades offered on the Washington Prime Plus Mini account are difficult to offset in the broader market. Washington Prime Plus has developed a proprietary risk protocol for the Washington Prime Plus Mini, which involves aggregating volume into sizes that can be offset in the broader market.

 If the equity balance in your account falls below the margin requirement of 5% per lot, a margin call will be generated. In the event that an account exceeds its maximum allowable leverage, ALL open positions will be liquidated immediately, regardless of the size or the nature of positions held within the account. For example, a Washington Prime Plus Mini account with 8 lots in open positions would need to have 5% of the total position value in account equity. If the account equity falls below 5% of the position value due to floating trading losses, the entire 8 lots would be liquidated at market price. Clients are not notified prior to the liquidation of their positions.