I’ve been trading on a demo account with dbFX for a couple of months, and am looking to take the plunge into �real money� trading.
I was going to start with a small amount (�2,500 being the minimum), however I�ve just noticed dbFX don�t do mini accounts. �2,500 doesn�t seem a lot of money to start trading with a standard account.
What do you fellas think. Should I carry on, or find myself a broker who does trade with mini accounts. If so, any good UK brokers out there?
no need, there are plenty that will allow you to trade minis which is what you need to do with such an account size.
Oanda - any account size you want
Saxobank - Do mini accounts
Alpari - not completly sure think they switched to any unit size, but they do allow minis
I was under the impression that you could trade small lot
sizes with dbfx? You do not need a mini account to do this,
in the order box you just place a trade of 10 (rather than 100)
but I deleted my dbfx demo platform because I felt I would
never open an account with them, so I cannot check this info.
With Alpari, who are a UK based broker, you can make trades of
0.1 lots which is equal to 10 000 units or mini lot. They are FSA
registered. Transfer of funds is free from any UK bank & withdrawl
as long as you wait 3 days.
Thanks for the replies. I contacted my account manager at dbFX; you’re right I can apply for a mini account. I really like their trading software, so I’ll be using dbFX.
Going to spend another couple of months on a demo account first though. Practice makes perfect. Probably.
If you’re in the UK alpari might be a good choice… im in norway and i’ve been using their demo amongst others and recently opened a micro (which i blew) and they seem ok.
A bit OT tho, i dont know where the other broker is located but there are some complaints about slippage and requotes. Can these problems be related to routing issues? say your broker is in the saudis and you are in europe with an ISP with ****ty peering. I believe this would impact your trading. or is the platform designed to take this into account?
If you have issues with your ISP or internet connection problems
then get them sorted out. Also do not trade with a Saudi broker??
Do they exist???
Usually slippage & requote problems are allied to news time, NFP Friday
etc., & scalping, so don’t trade the news & don’t scalp until you know
your broker.
dbFX platform looks “strikingly” similar to FXCM’s :), seems like the the big bank powerhouse hooked up the the big fx powerhouse and did a little “white-labeling”.
Besdes Metatrader, seems that this (white labeling) is happening more often these days, There should be some sort of source/website to let us know who is licensing software from whom. i.e. GTS, ICTS, etc.