Hey jason!
i wanna go live with fxcm and have been using your platform for about 7 months while trading demo and i want to go ahead and open an account. The problem is i saw the minimum is 2000… is there a possible way for me to get around this? i thought i saw somewhere that someone opening a smaller account with you but im not sure. i was thinking of putting in about 1000. im 17 so i dont have that much money to deposit. i really love your platform and i dont want to use another broker and use your platform i feel like it would be weird to do tht. if you can help me please let me know! and im in the US by the way!
Thanks
Hi Krash,
Since you live in the US, your account must be set up under US regulations. That means opening through FXCM US. The account opening minimum for FXCM US is $2000. However, you mentioned that you’re 17. Please note that there is also an age minimum of 18.
So there’s nothing i can do ? And I’m turning 18 in 10 days !!!
Unfortunately, we can’t waive the $2000 minimum for opening an FXCM US account. There’s a reason behind this requirement. FXCM provides traders with No Dealing Desk (NDD) forex execution where each client order is offset one-for-one with the best prices from competing liquidity providers. That means we don’t profit from client losses or lose from client profits.
Our clients greatly value how our NDD model eliminates potential conflicts of interest. However, one result of NDD execution is that the minimum order size on our platform is 1 micro lot( AKA 1000 currency units or 1k), since that’s the smallest order our liquidity providers will accept for individual offset. That’s why the minimum to open an account is $2000.
Congratulations! I’ve just sent you private message with a promo code good for $100 in free programs at FXCMapps.com as an early birthday present 