Hi, im looking for fx broker which can trade nano lot size, aka 100 unit/1 cents per pips? can someone recommend?
looking for nano lot size (cents) fx broker
- Thread starter acertablet
- Start date
Yes, that is available on Tenkofx. They offer a cent account where you have such minimum. No issues with the broker.
My brokers XM and Fxview offer nano lots. I trade 1 currency unit often, on which I get $0.0001 per pip as my pip value. I would especially advise all newbies to trade using nano lots as you can start small, and the stress is very less. You can always go big later on after you’ve tested your trading strategy on a nano lot.
Recently minimums were reduced even with top brokers. Fractions, dollar unit trades... I like the idea as I prefer tiny real size trading to demo for beginners. But spreads and/or commissions can eat plenty of % on fractional size. Leverage temptation, specially on FX, can destroy any size account. I believe is good to treat a small capital as if it was substantial if you are in the learning stage, and fractional trading can help with that. As risk management and capital preservation are essential skills to learn if you are not in to gamble your money away, whatever the size.
As far as I know, fxview does not provide nano lots
Nano lots basically are for the beginners since it gives them the flexibility to trade even with the smallest account. The reason is that if you risk more than 1% you might have to worry about your trade. With smaller lots, you can personalize the lot size and can set a stop loss depending upon the trade you are taking and not your account size. How demo trading helps in this is a question to me though.
It’s actually not that complicated. What I’ve experienced with small lots is that demo accounts and backtesting both helps to figure out which trading system has a better chance of being more profitable. You can only discover this when you put in some money at stake. You’ll be able to find out that a particular system backtests quite well and you’re successfully able to demo trade it too. When a small amount of money is on the line, you’ll realize which trading system allows you to trade well in the real life conditions. As for me, I demo traded micro lots with Fxview and Oanda for they help with risk calculator on the order entry screen.