Currently, I’m trading with Micro/Cent account to incease my fund before using Standard account.
I use grid in trading so I need Micro account with some requirements :
I tried XM Micro (300 maximum orders). And Exness Cent (not NZDCHF, NZDCAD CADCHF).
Do you know any brokers that meets my needa ?
I guess it depends on where you live, but you could try OANDA.
I’m in Canada and have been using them for several years. I can buy 1 unit of EURUSD or any other pair, if I want. Keeping in mind, it also depends on what platform you’re using to open your trades.
For example, if I trade through MT4 I have to trade a minimum of 1000 units (micro lot), but if I trade through TradingView, or even OANDA’s app, FX Trade, I can go as small as I choose.
So, it’s good to check which trading platforms support your.
i think your topic is more appropriate for broker discussion , thanks
You can trade a micro account on fxview.
I think demo accounts are a better option as you don’t have to lose your money unnecessarily. Opening a micro account directly after learning leads to a train of losses because you are yet to learn the functions of the platform.
For the exact idea of the live market, micro accounts are great. I don’t think it should be a hassle to take small losses in the beginning that can save you from bigger ones in the future.
Instead of demo accounts, beginners should make use of the micro accounts to judge the performance of a broker. Brokers can manipulate trading conditions on a demo account but they can’t do so in the live market.
Micro accounts are a great way of preparing yourself for your future trades. You may lose some money but it’s okay if you are getting an exact idea of how the live market works.
I’ve never heard that brokers manipulate trading conditions on demo account, it just doesn’t make a sense and can be easily spotted. The only noticeable difference between live and demo account that can be regarded as manipulation is speed of execution, however it is natural to expect it since demo trading doesn’t involve any liquidity (i.e. a counterparty for trades).
Micro account is a great way to learn the intricacies of trading, and experience the real pressure without losing big. I started trading on a small account with turnkey forex for just $10. You can too.
Demo accounts are good only until you are new and getting well-versed with the market conditions and your broker’s trading platform. They don’t really prepare you for live trading. You will have to take a plunge in the live market to judge your performance.
Thanks to the micro accounts, traders are capable of getting a clear idea of the working of the live trading market without having to worry about making big losses. You can trade with even $1 or $2 if your broker allows.
I agree that demo accounts don’t show you how exactly the live market looks. But I can’t deny that they do a great job at giving traders an understanding of the live market without them having to take any risks. I don’t think it’s a bad decision to demo trade for a while before moving to live trading. I mean who doesn’t want to save some bucks.
On demo accounts, you are making use of a simulator that will make you win most times and fill you with overconfidence. Some traders take these results too seriously and end up failing in the live market.