Subscribe to a signal with a cent/nano/micro account
Hi,
I'm trying to find a broker who has cent/nano/micro type accounts which is seen as standard account. What I mean is when I deposit $50 into a cent account it is converted into $5000 cents, but when I subscribe to a signal all of the trades are executed as 0.01 lot, which mean the account is seen by the signal provider as $50, not $5000.
I see a lot of signal providers are using cent accounts and their balances are $5000 or more but in reality they have deposited only $50, so why subscribers can't have $50 deposit seen as $5000?
Or maybe this works only with some brokers. I'll appreciate any help on this matter. Thank you
Dear friend,
You can visit brokers web site and find the cent account.
There are two types cent account in different brokers.
One is showing $50 = 5000 USD and another one showing $50 = 5000 USC.
Also find the starting lot, One is start lot 0.1 and step 0.01, another's starting lot is 0.01 and step is 0.01.
As per my view, 2nd is good.
You can visit in the broker page for more information and brokers name and discussion from the below link.
Here we can not refer any broker for review due to Community rules bindings.
Thanks.
Here, I think, there is a work for MetaQuotes :)!
They have to add more flexible method of money management in Options/Signals form, which have not to use proportionality to signal provider deposit.
Most flexible and safety is % of Equity (I mean user Equity). There are maybe many formulas but this is not so important - important is to be independent from signal provider deposit. One simple formula which could be used is: units = (AccountEquity/100000) * Percent. So if your Equity is $5000 and you decide to trade with risk of 1% per trade, that will means you will trade with 0.05 Lots per trade, without any dependency of what the signal provider deposit is.
This method is easy to manage from signal user point of view, because (again) it does not depends from what the signal provider deposit is.
It enables the user to decide the risk of signal copying.
Thank you!
Dear friend,
You can visit brokers web site and find the cent account.
There are two types cent account in different brokers.
One is showing $50 = 5000 USD and another one showing $50 = 5000 USC.
Also find the starting lot, One is start lot 0.1 and step 0.01, another's starting lot is 0.01 and step is 0.01.
As per my view, 2nd is good.
You can visit in the broker page for more information and brokers name and discussion from the below link.
Here we can not refer any broker for review due to Community rules bindings.
Thanks.
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Hi,
I'm trying to find a broker who has cent/nano/micro type accounts which is seen as standard account. What I mean is when I deposit $50 into a cent account it is converted into $5000 cents, but when I subscribe to a signal all of the trades are executed as 0.01 lot, which mean the account is seen by the signal provider as $50, not $5000.
I see a lot of signal providers are using cent accounts and their balances are $5000 or more but in reality they have deposited only $50, so why subscribers can't have $50 deposit seen as $5000?
Or maybe this works only with some brokers. I'll appreciate any help on this matter. Thank you