Hi, I currently have a Micro account with FXCM, and just been reading up that apparently there is a limit of $5,000 you can have as your current balance?
What happens if my profits cause the balance to rise over $5000, must I constantly withdraw to keep my balance under $5000?
I do not want a Standard account.
ty
To be honest, I haven’t seen a client forced over to the standard 10k account when the balance exceeds $5k. You would more than likely be asked to move before being forced to.
The rule for account size was mainly done because FXCM Micro execution is through the dealing desk. Keeping account sizes and lot sizes small allows us to manage risk on a small enough scale without having to re-quote and keeping everything as automated as possible.
With the transition over to No Dealing Desk execution (which will be completed in the next 2-3 weeks I hear for those not yet on NDD), the $5,000 balance maximum will no longer apply.
-Jason