Nano lots would be so hard to find with any broker, mostly with what i've seen with fxview or ICM or fxpro they have micro lots. Better go for 0.01 lot and low leverage, you won't get more than 30x with regulated ones either way.
8christianpaul8 posted: That depends on your account capital and trading experience. If you don't know what you are doing yet, better to start with demo. It depends on your position sizing too.
I have traded on micro lot few times in the past, but not with the kind of returns as I had anticipitated. Got suggested on using nano lots instead but couldn't find a broker that offers that trade size. So I am here!
IvanMelnik posted: Nano lots would be so hard to find with any broker, mostly with what i've seen with fxview or ICM or fxpro they have micro lots. Better go for 0.01 lot and low leverage, you won't get more than 30x with regulated ones either way.
Guys, if you have a specific amount of risk per trade, account leverage doesn't matter much unless you plan to open a lot of trades that would lower your margin % that might lead to reaching a stopout level. Let's say on a trade, you plan to lose 100 dollars with a 50-pip stoploss, regardless if your leverage is 1:1, 1:10, 1:100, or even 1:3000, your risked amount would still remain the same which is 100 dollars. Given you have the correct position sizing.
Open a cent account. My broker, RoboForex, has one. I think other brokers offer cent accounts too. I think cent account's 1 lot size is 0.01 on a standard account. And you can go lower like 0.01 lot on cent account depending on the broker you choose.
If it would also be considered when picking brokers, if the broker offers cent or micro account, it means that they're a market maker for sure. Since no liquidity providers accept below 100,000 units of trades.
8christianpaul8 posted: Open a cent account. My broker, RoboForex, has one. I think other brokers offer cent accounts too. I think cent account's 1 lot size is 0.01 on a standard account. And you can go lower like 0.01 lot on cent account depending on the broker you choose.
Will surely try it out on demo acounts of brokers that offer this, I'm open to new strategies.
marktaylor posted: Minimum order size with all brokers I’ve been using has started from 0.01 lots. Not sure whether you term it micro or nano.
That’s nano lots. XM and exness offer variable trade size. Worth checking out for their leverage too. Although 2000:1 offered by exness might be a bit much for starters. Reason I have been mostly sticking with XM all these years is their execution. None of my orders have ever been refused and max orders get filled in less than a second. This wasn’t the case with the broker I started out with, so not sure if most brokers are this real time.
XM is good. XM is my very first broker. What they say is true that no requotes. Though I blew a few accounts with them due to my own mistakes as a newbie. I switched to RoboForex because of the free VPS and good profit share bonus. When I get more capital to open a new account, I will open an account with XM again.
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