IBFX has
two account types, just for those that are curious (the trade ticket entry is the same, but 0.01, 0.10 & 1.00 respectivley have two values):
Standard Account:
0.01 = 1,000 units (Micro)
0.10 = 10,000 units (Mini)
1.00 = 100,000 units (Standard)
10 bucks a pip Mini Account:
0.01= 100 units (Nano)
1 penny a pip
0.10= 1,000 units (Micro)
10 cents a pip
1.00= 10,000 units (Mini)
1 buck a pip
To be able to trade so small there are two firms that dominate the playing field. IBFX and Oanda (Oanda does not accomodate the MT4 platform). Generally 100 unit trades and single unit trades are not common place and many people confuse the terms ...
nano ....micro ...mini .... sublot ... lot ... unit...
ES
P.S. Now I realize this is a global forum and audience. I am sure there are brokers from all over the world with different products and standards. I am from the USA and I use only the small handful of firms that are CFTC licensed and NFA registered as they demonstate the stability of having enough capital and limited regulation to offer me. but get this....and read carefully...they are all thieves!
Quote:
Originally Posted by BarrowBoy  Keep in mind the common availablity of micro & nano accounts, so people can start to play with 500 bucks...
Its all about lot size in relation to equity/balance.
But regardless of size of account, there are some systems I would not use with a million dollar account... Anything without a stoploss, anything that ties up much of the account with negative equity, etc, etc |