Hello. I recently started trading and Im searching for a broker

Beginner Questions
1

Im searching for a broker to deposit my $2000.

The thing is I would like to trade only 1% of my balance which is $20 on every single trade.

I heard that minimum contract size should be as big as nano lot which is 100units

is there broker that allow me to risk only two-digit number?

Oanda and FXCM do not quite accept South Koreans since those brokers commissioned their system to Korean futures brokers, which I dont want to trade with because of their outrageous commissions and minimum deposits…

A recommendation for a broker would be appreciated.

Thank you in advance!

2

I don’t see why finding a broker for such a small deposit (or any deposit for that matter) poses such a difficult task. Search for what you want online and there will be plenty. On a side note and according to my own definition, traders trade and do not bet.

3

My apologies for my word choice. Do many brokers allow small deal size on a trade as low as 20 dollars? How do you find the brokers that do so?

4

Maybe look at FBS, they also offer cent accounts.

5

Thank you! I will check on it!

6

There are plenty of choice that allow traders to deal with cents. For 1K you can choose 1:200 leverage to reduce risk exposure and use 0.02.0.03 lot and this will be excellent trading setup. I have such at Hotforex and more risky at FXCM they both are running fine for me.

7

Thank you profitbaby. Your post helps a lot!

8

What are your criteria for a broker besides having small tradable lot sizes?

9

The majority of brokers do allow that, there is only a handful which do not so you can basically pick from the entire list.

10

Is there micro trading volume as 0.001 or smaller?

11

You can have a look at Mayzus broker, the minimum lot you can use is 0.01 which equals 10cents/pip. Using mini lots in very helpful as you can trade on higher time frames on them by reducing your lot size to trade wide stops.

12

To get good profit, we should trade at least 0.1 volume. Smaller than this amount is not deserved with your efford and time.

14

It varies from broker to broker.

If you use Oanda, for example, there’s almost infinite position-sizing flexibility, and you can open trades of amounts as small as $1, if you really want to (not $1 per pip - just $1 total!).

These are not [U]real[/U] brokers, of course: they’re not actually executing a trade on your behalf in an underlying market at all, and they are themselves holding the other side of your trading position; in other words you’re trading “against them”, rather than in a real market. In the real market (in the case of forex, that’s the interbank market) the smallest tradable size is one lot, equivalent to $100,000. If you’re trading in units smaller than that, you’re not really “in the market” at all: you’re [I]effectively[/I] having a side-bet against your “broker” on what will happen in the real market.

15

OMG, 0.001 is 100 bucks position do you really think it’s possible on FX?
I think its pretty easy to scrape a bunch of bucketshops offering nano-lots but doubt I would trust them a cent…