I’m paper trading with MB Trading right now and decided to see if doing a micro lot (0.1) would would, and it did… Just out of curiosity I tried a sub-micro lot of 0.01 and it also went through. Is this really possible when I decide to go Live, or is this something inaccurate inside the Demo Trading?
Thanks!
not with MB trading… with Oanda it is. MB is a minimum of 10k or 1 mini lot.
Thanks for the reply, but if this is the case why does it let me do it with the Demo? Isn’t the demo the same thing as a live account just with fictitious money? 
Is there a minimum ticket size?
You can place a trade for as little as 1 share, however, please keep in mind that our “per share” commission plan has a minimum ticket charge of $1.00.
Found this in the FAQ.
What exactly do you offer?
MB Trading offers the MBT Navigator, a professional level direct access trading system for Nasdaq, NYSE and AMEX securities, options, and e-mini futures. The Navigator seamlessly integrates into some of the industry’s leading quote applications, including QCharts, eSignal, and DTN.iQ, providing a complete and advanced online trading system. We offer real time comprehensive support via our internet based chat room and a fully staffed Trade Desk that is available from 7:30am to 8:00pm EST. We are confident that you will not find a more reliable, convenient, and efficient trading platform.
I am a little confused now though because I could not see a link
to forex.
MB Trading doesn’t do Forex directly, they do it through EFX Group, which is their Forex-only trading arm.
According to the EFX FAQ:
Q. What is the Minimum trade size?
The minimum trade size is .1 lot (.1 lot = 1000 currency units)
Daedalus is right. If you want smaller lots, go with Oanda.
Here we go with terminology again.
I take a stardard lot to equal 100 000 units NOT 10 000 units. ($10/pip)*
10 000 units = mini lot. (0.1 of a lot) ($1/pip)*
1 000 units = micro lot. (0.01 of a lot) (10 cents/pip)*
(*Assuming USD as base currency)
Therefore using other brokers terminology, Efx (or MB Trading whichever)
do allow traders to make trades of 1000 units which they are
calling a micro lot.
It all comes down to how you classify a LOT.
In fact i have just found this in the FAQ.
Q. Are mini accounts allowed?
Unlike other platforms, our system recognizes trade sizes equally and handles any trade size the same. On our system, 1 lot is considered 10,000 units of the currency, which is what would previously have been considered a �mini.� If you wish to trade 100,000 units, which would previously have been considered a �full� lot, you simply trade 10 lots at a time.
:lmao:
So much easier with Oanda.
Thanks for all the great replies! I have some clarification… I did a live chat with MBT to ask this question. The smallest trade size is one unit, which equates to 0.0001 on the order entry form. So basically you can put as little as one unit of currency, so $1. That’s pretty extreme, but I like the idea of starting with 0.01 becasuse it gets me conditioned to using real money, but if things go crazy I lose a whopping $0.30. As I get better I can start stepping it up…
RE In2Blues - I was really excited about Oanda until I learned about lack of trailing stops and 50:1 leverage. I undrstand leverage is a double edge sword, but it seems to me that standard leverage is 100:1, which is what I’ve learned with, so that’s all I’m looking for - definitely not 400:1 or anything, just 100:1.
Why do you need more than 50:1 leverage? If you’re going make the same sized trades regardless (and I certainly hope you are) then it doesn’t matter.
I am under the impression that if leverage is changed PIP value is changed as well. That being said, 50:1 leverage would cut my profit in half… Is this not the case?
Pip value is based on two things: the currency pair you are trading and the size of your position. It matter not one iota what your leverage is on the account. Leverage only determines how large a position you can hold. If you don’t plan on trading positions more than 50 times the size of your account (and most traders don’t even come close to that) then there’s no need for a higher leverage ratio.
Yes, I know what you mean. Sometimes it gets confusing trying to keep track of which broker offers what. A little standardization would be nice. 
When EFX says “one lot”, they really mean one mini lot (10,000), whereas with most brokers “one lot” is one standard lot (100,000).
As for Oanda, I don’t know if I’d say it’s easier. You still have to think in terms of [I]units[/I], not lots like most brokers use. But, at least you know that on Oanda “one lot” will equal 100,000 units, and can go from there. So, 0.1 lots (one mini lot) is 10,000 units, 0.01 lots (one micro lot) is 1,000 units, etc. Once you get a handle on that you’re fine.
That was my initial feeling, too.
I can live with the 50:1 leverage, but I really miss the convenience of a Trailing Stop. Now I have to move my stop manually. :eek:
It’s a minor inconvenience, though, since I tend to monitor my trades often.
As for Oanda, I don’t know if I’d say it’s easier. You still have to think in terms of units, not lots like most brokers use. But, at least you know that on Oanda “one lot” will equal 100,000 units, and can go from there. So, 0.1 lots (one mini lot) is 10,000 units, 0.01 lots (one micro lot) is 1,000 units, etc. Once you get a handle on that you’re fine.
With Oanda there is no need to worry about what is a lot,
mini lot, micro lot, mega ball busting triple double lot, or
whatever because you only then need to concentrate on pip value.
In the market order they even work that out for you.
Use of a trailing stop would be nice though, but as I monitor my
trades manually as well it ain’t a great problem.
Being able to hedge, sorry rhody offset, would also be nice;
without having to keep changing accounts.