Today I realized that I need a demo account with the amount of fake money I will have on my live account in the future. That is 100usd. I googled which lot size is best for 100usd accounts and it turns out micro lots are the best. Now I gotta find a broker that offers micro accounts.
What would you recommend me? I’ve tried XM but it doesn’t have a micro account option for demo accounts sadly so I figured it would be easier to just ask u guys which one would work lol
Low spread, fast execution and stuff like these are important too, but the priority is to have a micro demo account now lol
misinformation is everywhere, in the world of trading advice
a good general rule of thumb is to have $250 in the account, to trade 1 microlot
so with $100, you should be looking at trading no more than 0.4 of a microlot, in size
sorry, but i don’t know the answer to your specific question above
if it turns out to be difficult to get a $100 demo account, i would just use a $100,000 demo account (those are easy to find) and practice trading with 1,000 times the size, if you absolutely have to - at least it’s quick and easy to work out, that way
what actually matters is to use a demo account in the same place you’re going to use a real one later, so that you’re familiar with everything about the broker’s rules, policies and procedures when you start!
depending on where you live, perhaps? be aware that it offers no investor protection at all for non-EU residents - maybe for $100 that doesn’t matter much anyway, but possibly something to be aware of for the future?
When it comes to demo it us just a matter of lot sizes relative to deposit. You can make from your 10K account 100 USD account just increasing lot size accordingly.