I want a broker that uses metatrader 4, uses microlots and a leverage of up to 1:100… i thought i found a perfect broker, ‘alpari’ … but they REFUSED my application to open a live account. Has anyone got a suggestion of a broker which meets the requiements above?
Mt4
Microlots
1:100 leverage
thanks a lot in advance :)
James
Almost all the brokers provide leverage upto 1:100 such as FXCM and for more information you can visit the brokers site.
Hi James,
The leverage available to you can depend on your country of residence. For example, if you live in the US like me, then your leverage on forex trades is limited to 50:1 by CFTC regulations. Where do you live?
Jason
I am already trading with profiforex, which I know have the features you are looking for. I also checked Oanda and they also do. So, its your choice. Always look beyond the surface.
OMg, 2007 topic, how did you guy find out this topic?
I didn’t even notice the date on the original post :18:
Hopefully, James has found an answer to his question by now!
Hi Mr Jason, talking about leverage, I lived in Indonesia, can you tell me about the leverage, since I have practice with FXCM demo for more than a year
These are good choices. I have been trying to see if Oanda allows partnership or affiliate program.
Hi Fxlanker,
I’m happy to answer any questions you have about leverage. Since you live in Indonesia, you might be interested to know that FXCM’s Australia entity offers up to 200:1 leverage. For example, to open a 1k microlot in AUD/USD, you only have to set aside $5 as used margin.
While you have up to 200:1 leverage available, that doesn’t mean you want to use all of it. It’s like having a car that can go 200 kph. That doesn’t mean you should drive that fast on the road :eek:
Our research department at DailyFX.com recently did a study on trader profitability which found that traders who use less than 10:1 leverage tend to be more successful than those who use more than 10:1 leverage.
You mentioned that you’ve been trading on a demo for a year now, so you might already have known that. Please let me know if you had more specific questions regarding leverage.
Jason
I was thinking about opening a real account on fxcm uk, which one should I choose? About the leverage, I think I will choose 1:100, if my account developed later, I will change to 1:10, can I?
The margin requirement for forex trades with FXCM UK is 0.5%. That means you can use up to 200:1 leverage. It is possible to increase the margin requirement settings on your account to lower the total leverage available to you, but that is not what I was referring to in my previous example.
I was talking about limiting your [I]effective leverage[/I] to 10:1. Effective leverage is the ratio between your trade size and the actual money in your trading account. For example, if your trading account has an equity of $5000, an effective leverage of 10:1 would be to have a trade size of 50k. Below are more examples with different account sizes.
Traders who use less than 10:1 effective leverage tend to be more profitable than traders who use more than 10:1 leverage according to the data from the DailyFX study on trader profitability.