Does Oanda offer Micro Accounts (USD1000 account)

I’m planning to start trading with a capital of just USD1000. Does Oanda accept this? Thanks

yes you can trade micro with oanda

Oanda will let you trade any unit size you want, 1, 10, 100 etc

N

there is no minimum amount needed to go live with oanda, practically you could go live with even $100 though of course this is not advisable.

Not advisable according to whom?

Oanda allows you to trade any unit size you want and allows very conservative
amounts of leverage.

You don’t need a lot of money to trade forex. If you know what you’re doing, you can even turn the change in your pocket into a sizeable amount of money.

I just opened a live account with 500$ … but I realized that trading forex need 2000$ or more as am going on long trades so with small amount you get margin call easily… However 1000$ is a good to start

Why $2000? The amount of your bankroll has no bearing on your success in obtaining pips.

yes $2000 is definitely better than $500, you’d have a much better chance of success. Anyway New_FXer margin call is not a major worry in this particular case because at oanda you can trade any lot size it has more to do with psychoplogy the larger your trading capital the easier it would be for you to practice sound money management, with a small account say a $100 even with a 2% gain ($2) is only a small amount of money and therefore you would tend to take higher risks than advisable in order to gratify yourself with larger winnings.

Also please go through the babypips school its actually very sound advise and read a couple of good books on the subject. Van Tharp’s “Trade your way to financial freedom” is considered by many to be a very well written book on trading.

thanx for that “hess”. I actually been in many successful trades but my profit was just a few dollars thats why I started to use almost 90% of my margin on one trade which can give me a better profit & it may be a big loss as well … so in case of loss I wait so the market can tend up again on the next 24hrs but sometimes it reach to margin call before the market tends up

In other words, you’re getting too fixated on the nominal size of your returns which is making risk too much. You should be focused on % return so you can develop good habits for when you’re trading larger.