Intro + funding question

Community Introduce Yourself
1

Hi,

I’m seventy, married forty-six years, have two grown daughters and five grandchildren, and we all live within ten minutes of each other. I count my wonderful family the blessing of the Lord on our lives.

I’m still working and see no way to retire on Social Security, so I’ve taken up studying Forex like crazy. Please enlighten me. There’s something I’m not seeing. When I fund an account with a broker, does he consider that total amount the margin for leveraging any currency pair that I buy? Let me put it another way. Suppose I fund my account with $1200, but want to buy a currency pair for $10 at 1:50 leverage. That would mean that only $500 is needed to fund the margin. Would I be able to tell the broker to leverage me at 1:50 for $500 and hold the $700 balance in reserve?

Thanks,
Valepiptorian

2

Hi vale,

You can create two sub accounts in one main account and transfer the rest of the money to the sub account that you are not playing.

Once you created a live account with them, you can create subaccounts with just a click.

3

Hi, glad to see you on the forums!

You can always create Two subaccounts in your broker live account. Deposit your reserves into a second sub account for later use.

4

The leverage is applied to your entire balance.

You can have a position of 60000 with 100% free margin or a position of 500 with a much higher free margin allowing a much higher drawdown.

Most brokers have sub accounts so you could deposit 700 in one account and 500 in the other.

5

Thank you, Onemind.
Your answer about two accounts makes that clear. I think i understand what you’re saying in the first sentence, but I’ve got to work it through a bit more.

Thanks again,
Vpip

6

Hi Stockku,
Your replies cleared things up for me.

Thanks again,
Vpip