Reached the 5% profit on your trading account? Congratulations!
You might be tempted to withdraw your profits to your bank account. However, instead of withdrawing - why not consider aiming for 10% profit and growing your account?
Here are three key reasons growing a small forex account is incredibly beneficial...
3 Reasons to Grow Your Trading Account
1. You can start to make a living from trading
With a smaller trading account, the aim is to eventually progress to a larger one - and it’s hard to do this if you’re constantly withdrawing your profits. Growing a small forex account takes time - so will require some patience - but there are serious benefits!
With a bigger account, you can increase the amount you can risk per trade - and therefore also increase the amount of profit you can make too. From here, your account will grow much faster, and you can then hopefully begin to make a living from trading.
2. You can upgrade to a higher account size without massive risk
With BluFX, if you hit a 10% profit target, you can either choose to withdraw 50% of the profit to your bank account or upgrade your account size based on our growth fundamental.
For most retail traders, making a profit is just the start of a long journey. As there is always a cost associated with trading, making a profit regularly is not enough. To increase profitability consistently, you have to grow your account balance. However, most traders would need to withdraw profits to pay for their expenses.
There’s a tension, then, between withdrawing profits or increasing the account balance in order to take bigger positions and realise bigger profits. We know that it’s very hard to do both without taking excessive risk - and this is usually done by increasing leverage (therefore increasing your risk of losses too). You can read more about BluFX leverage here.
At BluFX, however, we’ve taken this into consideration: you can have both. You can get paid each time you hit 5% AND we will double your account size each time you hit 10%.
Growing your account by 100% now only requires you to make 10%. You will be trading a one million dollar fund in four steps - and withdrawing profits to pay expenses along the way.
3. You can reach BluFX’s 1 million fund manager status
This is a key benefit to growing a small forex account - progressing with BluFX!
Once you reach the one million target, we will then offer you an exciting position as a BluFX Fund Manager. At this point you will no longer have to pay a subscription fee and you will be compensated by a share of your profits.
Want to know how Ivan became a BluFX Fund Manager? Read his account here.
These are just some of the reasons that growing a small forex account is a great idea. Happy trading!
So - what are the secrets of successful traders? Discover the best strategies next…