Hi guys, I have a question here. How do I know from the platform what is my account size (standard, mini or micro)? I’m demo trading using MT4 with MB-Trading.
And on the trading order window, when i select 0.10 for volume does that means I am trading 1/10th of a standard trading lot?
Please help as I could not find any answers to my questions anyway and it’s kinda confusing for me.
I’m not sure how to check for your first question, but yes to the second one. It would be 1/10th of the standard lot size FOR THAT ACCOUNT because remember, that account could be mini,micro,or standard.
Standard: lot size 100 000
Mini: lot size 10 000
Micro: lot size 1000
Correct me if I’m wrong PLEASE this is just what I’ve concluded.
You can’t tell from the MT4 platform, you’ll have to ask your broker or place a test trade to find out.
Since it’s a demo just open a random trade for 1 lot and see how much money you make/lose per pip. If it’s approx. $10 per pip you have a standard account, $1 it’s a mini, and $0.10 it’s a micro.
And if you open a .10 lot trade that is 1/10 of whatever lot size your account is in. If you have a micro account you are opening 1/10th of a micro lot, not a standard lot.
Thanks guys for your comment. From the test trade results, I can safely conclude it’s a micro account since each pip is calculated at 0.10. Thanks and have a pleasant trading day ahead!