Error - Not enough money
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.
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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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