thx for the info. REGARDING SWAP WARNING
when i right click BRENT symbol in my FXOpen ECN Pro MT4, select Specification, i see the Swap on long position is -33 USD, short is +24USD.
Contract size is 1000 (barrels? which means 1 lot is 1000 barrels?), tick value is 10.0
When i want to calculate how much i loose/gain when i trade BRENT over night, i use calculator https://www.fxpro.co.uk/trading/calculators/swap
In the calculator i see that if i set 'Trade size' to 10 (barrels) because i trade 0.01 and it is 100 times smaller than 10 000 which seems to be volume set by my broker.., result is this Swap (fee) per one trading day when trade is open:
So does it mean that if i buy BRENT with $100 account balance and 0.01 lot, after 303 days it would eat my $100 account if BRENT price not changed and wipe it 50% faster if BRENT price decreased by 50% (low margin)?
REGARDING LEVERAGE CHANGE
Janeo mentioned that if i increase leverage, (from 1:200 to 1:500 for example) then i will be able to place more trades because margin will be decreased. But xgavinc have opposite experience regarding leverage effect on margin. Torsten adviced leverage below 1:50...
When i opened SELL 0.01 lot on my $100 account with leverage 1:20, EUR/USD pair i am getting:
margin 53.79 USD
free margin:49.17 USD
margin level: 191.40 %
(xgavinc adviced 1000%+ margin level 😲, how can i have it?)