Error - Not enough money

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ganioz
9
ganioz  

Hi

I started with AUD200 thro pepperstone with a leverage of 1:1. When I try to buy 0.01 of AUDUSD, I get "Not enough Money"?

What am i doing wrong? 

I can see Balance:200 Equity:200 Free Margin:200

Ta

G

Fernando Carreiro
4315
Fernando Carreiro  
ganioz:

I started with AUD200 thro pepperstone with a leverage of 1:1. When I try to buy 0.01 of AUDUSD, I get "Not enough Money"?

What am i doing wrong?

With a leverage of 1:1 you need a lot more capital!

If you only have a small amount of capital, then you should start with either a cent account or more leverage.

EDIT: For AUD/USD and a AUD Balance, at 1:1 Leverage, you will need 1000 AUD to open 0.01 Lots, not to mention the actual S/L risk and other costs such as spread and commission that you will need to consider.

anna.serea
14
anna.serea  
Please check your broker trading specification. It's need more than 100k to trade with 1:1 leverage.
Anton Nel
49515
Anton Nel  
ganioz:

Hi

I started with AUD200 thro pepperstone with a leverage of 1:1. When I try to buy 0.01 of AUDUSD, I get "Not enough Money"?

What am i doing wrong? 

I can see Balance:200 Equity:200 Free Margin:200

Ta

G

1 lot = 100,000 contracts

Example (Leverage 1:1)

0.01 lot = 1,000 contracts x AUDUSD (Ask price is 0.72391) = 723.91 USD (exposure) so you have 200 USD which is not enough money. We cannot buy 1,000 AUDUSD for 200 USD when the leverage is 1:1.

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