Hey guys, I opened a demo account on xm of which is a standard account i. E 1 lot =100 000UNITS,
However when I open a eurusd trade on mt4 at a volume of 1, 1pip equals 1 dollar rather then 10 dollars. What am I missing?
Your probably missing leverage, Say a bank wants you to give them one dollar and they will fund 100 dollars that’s 99 more dollars then you had before right? So if you set your leverage to 1:1 that means every dollar you trade it will only equal your own money. I would try to raise your leverage to 1:50 if you are in the united states. If you are in another country you can raise it higher. The united states only allows you to have a 1:50 leverage which means every dollar you trade they will make it $50 dollars. The reason why you only need a 1:50 leverage is because if your in a demo account trading a 1:1 or 1:100 leverage it makes it unrealistic in the profits you would be making.
Sincerely Islandwolfgang, Ps. I don’t know if this is going to help.
Wow, way to overthink things bro…
@ZDi9250 your properly just confusing a pip with a point, common newbie mistake.
Haha, thanks for pointing me in the right direction