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Looking for a Micro Lot broker (0.001 starting lot)

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mike_s
152
mike_s 2010.06.22 14:53 

Hi all,

Anyone here familiar with a broker that allows 0.001 starting lots so i can make my testing on such system?

I've Googled for such brokers, and found some that claim to support mt4 and 0.001 lots, but when i install Mt4 it actually 0.01 minimum lot.

JC
1456
JC 2010.06.22 15:00  
msbusinessil:

I've Googled for such brokers, and found some that claim to support mt4 and 0.001 lots, but when i install Mt4 it actually 0.01 minimum lot.

Are they really 0.01 lots, or are they 0.01 lots with all cash values multiplied by 100? The normal way of offering micro lots is to have trade sizes starting at 0.01 lots, but to multiply all cash values by 100, so that 0.01 lots is actually 0.0001 lots. To put it another way, a deposit of $250 would be shown within MT4 as $25,000.
Ubzen
5394
Ubzen 2010.06.22 15:01  
AFAIK, Standard Lot=1, Mini=0.1 and Micro=0.01, which translate to $10,$1 and 10-cents per (Pip/tick/move/whatever) in that order. Why would you want to trade for Pennies?
mike_s
152
mike_s 2010.06.22 15:14  
ubzen:
AFAIK, Standard Lot=1, Mini=0.1 and Micro=0.01, which translate to $10,$1 and 10-cents per (Pip/tick/move/whatever) in that order. Why would you want to trade for Pennies?


I want to deposit the minimum amount of money in order just to test my EA on real account.

If it will show success then i will consider increasing the lots as well as investing more money.

mike_s
152
mike_s 2010.06.22 15:54  

Thanks BB.. Tried all of them, none allow lots lower then 0.01.

I talked with forex4you.com, they say that they don't support such lots, although they appear all over the internet as such they do support.

I'll keep looking..

Ubzen
5394
Ubzen 2010.06.22 16:09  

msbusinessil: I want to deposit the minimum amount of money in order just to test my EA on real account.

Can't argue with that. I'm just thinking the best brokers wouldn't be the ones to offer Nano lots. Choosing brokers because they offer Nano lots may not be the best way to go IMO. But with Nano lots at least you wouldn't have to deal with the argument thats its not on a REAL account. :)

Brian Dee - Random Trader
1759
Brian Dee - Random Trader 2010.06.22 16:28  

MSB

I sympathise with the aims you have, very sensible, but ubzen makes a vital point in that nano brokers in general have not exactly been mainstream in their setup, eg would be expected to be white-labelling or having their own dealing desk (aka 'internal market') and so results obtained will not be a reliable pointer to the real market behaviour of the EA

FWIW - you do get to a point on demo trading where you have a very good idea how its going to go, but sooner or later you have to let it go on a micro....

-BB-

mike_s
152
mike_s 2010.06.22 16:32  
ubzen:

msbusinessil: I want to deposit the minimum amount of money in order just to test my EA on real account.

Can't argue with that. I'm just thinking the best brokers wouldn't be the ones to offer Nano lots. Choosing brokers because they offer Nano lots may not be the best way to go IMO. But with Nano lots at least you wouldn't have to deal with the argument thats its not on a REAL account. :)

BarrowBoy:

MSB

I sympathise with the aims you have, very sensible, but ubzen makes a vital point in that nano brokers in general have not exactly been mainstream in their setup, eg would be expected to be white-labelling or having their own dealing desk (aka 'internal market') and so results obtained will not be a reliable pointer to the real market behaviour of the EA

FWIW - you do get to a point on demo trading where you have a very good idea how its going to go, but sooner or later you have to let it go on a micro....

-BB-


Thanks guys. I really didn't thought about this side of the equation.

I guess i'll have to trust my EA and use a mini lots account.

ed
394
ed 2010.06.22 17:51  

Oanda lets you trade as small as you want, right down to just 1 unit of currency under 50:1 leverage, so IOW, even smaller than 0.001 lots. They don't have an mt4 server though :( However they do have an API and you might wanna check out this company called FX Spyder that I believe has made a bridge inbetween MT4 and Oanda.

whroeder1
14753
whroeder1 2010.06.22 18:36  
IBFX doesn't allow 0.001 lot sizes but its mini-account a lot is 10K not 100K so .01 lots are equivalent to 0.001 standard lots.
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