Hello,im a total beginner in forex,last week I opened an account (mini) with exness broker.I started with 12$,then I lost about 2$ in my account…the next day I want to open trade the broker say i dont have enough money…can I ask why?..I have 10$ more balance in my account…
Btw…I use 0.01 lot and 1:100 leverage
hello Noobtrader95, with LVG of 1:100 and $10.00 as your account balance it would be difficult to open a position with a Standard lot trading account. For 0.01 lot, you will need approximately 0.01*100,000/100=10 as used margin for your position. Of course this 10 could be EUR-USD-etc depending on the symbol you are trying to trade. The best solution is to contact exness support in order for them to explain and assist you further.
Hi Noobtrader95, I think that it will be better to ask them to increase your leverage ratio approximately to 1:500 if it possible, than you will need a less money to open a trade.
yes. increase the leverage or fund more money to the account!
Whenever we try to increase the Leverage in our trading accounts then the risks in our trades will also get increased and this is why we have to first learn how we would be able to have control over the risks before we can increase the Leverages 