This definitely seems to be a decent option for trading when it comes to beginners. So you’re saying it’s always a safe bet to start with smaller lots, but then doesn’t it restrict my trading?
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looking for nano lot size (cents) fx broker
- Thread starter acertablet
- Start date
There are many brokers out there which provide micro and nano lots for trading. There cannot be done much with these lots because the profit potential is very low. It is not possible to earn millions from the cents only; you have to climb the ladder slowly.
This is something that depends entirely on the trader. If you start off with larger lot sizes, there are chances you will face few losses. It’s actually exactly the way trading works. Once you’re comfortable trying with smaller lots, you can easily start trading with bigger sizes. It’s always safe to keep a small account functioning with a flexible trade size broker since you can use it in the future for testing once you’ve hit a rough patch.This definitely seems to be a decent option for trading when it comes to beginners. So you’re saying it’s always a safe bet to start with smaller lots, but then doesn’t it restrict my trading?
Am I wrong to think that this is somewhat similar to minimum deposit type of account?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.
I would rather suggest trading with a micro lot account broker like FP Markets or any other because using a micro lot is similar to using a nano lot, but the profit earned in a nano lot is very low, whereas the micro lot profit is a bit decent and it has the same lower capital and risk involved as the micro lot.
Fxview does not offer a nano lot size. However, you can definitely trade in micro lots with them.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.