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View Full Version : Micro Lots necessary?

Jer
12-03-2008, 12:43 PM
Hey all,

I am starting a live $600 account soon. Obviously trading micro accounts is the best money management strategy at first. The only broker I can find that offers mico lots is IBFX.

I really like the looks of fxpro, but they only offer 0.1 and up.

Any thoughts on what I shoud do?

Jer
mystikdragon7
12-03-2008, 07:17 PM
Have you checked out FXDD? They have micro accounts, you just need to ask for one when you set up your account.
dcrowley06
12-03-2008, 07:24 PM
Yeah, I opened an account at fxpro with only $500 dollars in it. That is a little scary to possibly have so much money tied up with 5 mini lots open at once. But the scalping so far seems fairly good.

I have also applied for an account at FXDD about 2 days ago and haven't heard back from them yet. I have heard they are getting fairly slow on opening accounts. So I would apply for an account now, so that by the time you are ready to start, it is available to use. FXPro took only about 2 hours from start to funding to get set up, so that is one of hte reasons I went with the specifically. But like you said the only downside is mini lots instead of micro lots. Oh well.
mystikdragon7
12-03-2008, 07:27 PM
Yes it's better to build your account slowly, if you try to go too fast you're more than likely to blow it out.
Jer
12-04-2008, 07:06 AM
Cool, thanks for your input guys. I will probbaly go with IBFX or FXDD possibly so I can trade micro.

Jer
MERLIN
12-12-2008, 07:10 PM
Jer,
try fxcm micro. Better spreads and you can trade microlots.

Regards,
merlin
JimGoose
12-12-2008, 08:43 PM
Jer,
try fxcm micro. Better spreads and you can trade microlots.

Regards,
merlin

FXCM Micro doesn't let you use metatrader 4, you can only use their platform which doens't let you use the fapturbo plugin
mystikdragon7
12-12-2008, 11:01 PM
I believe FXCM trades against you as well.
megawealth
12-14-2008, 06:26 AM
Other possibility: liteforex

http://www.liteforex.org/accounttypes.php

AKB
alan
12-14-2008, 05:45 PM
I believe FXCM trades against you as well.

On their MT4 platform yes, they do have a dealing desk. However, on their TradeStation II system they claim that they use a STP (straight pass through) system where your trades are routed directly to their liquidity partners (ie a "non dealing desk model")
alan
12-14-2008, 05:48 PM
Other possibility: liteforex

http://www.liteforex.org/accounttypes.php

AKB

Likeforex is ok, but they are also a purely dealing desk broker. They're also based out of Russia which doesn't exactly inspire confidence in me (no offense to Russian forum members)

Having said that I still use them mainly because they accept e-currencies. I get a few e-currency payments once in a while and I just funnel all that $ into my liteforex trading account.

Their unlimited demo accounts also work great :) I had a demo account running with them for almost a year.