Hello, i made a small Libertex MT5 account with around 90€ just to see how it’s like to trade my system with real money and over the last month i made a few trades. Today i had one open short position, just 0.01 Lot (NZDCHF), after that i tried to place another sell order for 0.01 Lot on a different pair but it didn’t work. It always said no money or not enough money. I was surprised because those are such small amounts of money. Is the problem really that i have not enough money in my account? Thanks.
Just an assumption, it would probably be due to margin requirements.
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The usual reason is your account doesn’t have enough to meet the trade’s margin requirements. Especially when you’re looking to trade an Australasian pair such as NZD/CHF or an Exotic. The Majors have lowest margin, the Minors more and the Australasians the highest from the significant pairs, those derived from the major 8 currencies. The only AUD or NZD pair which is a Major is AUD/USD: none are Minors.
What is this firm’s margin requirement for NZD/CHF? Compare it to their requirement for EUR/USD.
Thanks for your help! I check it as soon as i’m home!