What is a real difference between a standar, mini and micro?

This is a discussion on What is a real difference between a standar, mini and micro? within the First Steps forums, part of the Reception category; Hi! If I have Standard Lot account And buy 1 lot isn't it the same as I would buy 0.1 ...

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Old Dec 1, 2017, 2:26pm   #1
Joined Oct 2017
What is a real difference between a standar, mini and micro?

Hi!

If I have Standard Lot account And buy 1 lot isn't it the same as I would buy 0.1 lot at Mini Account?

So what is the purpose of having a standard , mini or micro lot account?

Can't I just put a different lot size like 0.1 or 0.01 in a standard account to get the same result?

Thanks for the help!
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Old Dec 2, 2017, 1:26am   #2
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Originally Posted by InwestorWkapeluszu View Post
Hi!

If I have Standard Lot account And buy 1 lot isn't it the same as I would buy 0.1 lot at Mini Account?
The problem is that your question is not of fact but of logic. Obviously 1 lot is not the same as 0.1 lot just as 1 is not the same as 0.1. You are conflating account type with position sizing - their relationship is mutually independent.
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Old Dec 2, 2017, 2:20pm   #3
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InwestorWkapeluszu started this thread
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Originally Posted by Brumby View Post
The problem is that your question is not of fact but of logic. Obviously 1 lot is not the same as 0.1 lot just as 1 is not the same as 0.1. You are conflating account type with position sizing - their relationship is mutually independent.
Sorry. I meant - if standard position with leverage is 10 000$ and for mini 1000$ isn't the same amount to trade for 0.1 position in mini as 1 in standard?

Can't I just put different position sizing to get this same result in different account?
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Old Dec 3, 2017, 4:21am   #4
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Originally Posted by InwestorWkapeluszu View Post
Sorry. I meant - if standard position with leverage is 10 000$ and for mini 1000$ isn't the same amount to trade for 0.1 position in mini as 1 in standard?

Can't I just put different position sizing to get this same result in different account?
The simple answer is no. If you use the same multiple to leverage then you will end up with a different amount and by default a different outcome.

If you use a different multiple to leverage in order to equalise the comparative positions, then the risk profile on the higher multiple will be exponentially increased.
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Old Dec 6, 2017, 8:32am   #5
Joined Nov 2013
they are only the name for a certain number of trading volume (lot). You should know every broker call differently each account types. Micro and mini, premium and standard.

You should care how much you earning from your broker.
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Old Dec 7, 2017, 10:23am   #6
Joined Oct 2017
InwestorWkapeluszu started this thread I can't get it right! Please help me!

Can you give a clear example of a trade on Standard and Mini lot account? So I can see a difference?

Is Lot connected with Leverage?

I'm so confused... Neither book nor articles make this point clear for me. Please, can somebody give me a brief example?

Is there a limit to a lot size that You can make on the account? Can I put an order for example 0.001 lot on a Standard account?

My point is - Can I have a standard account and place an order for 0,1 lot and get an order for 1 mini lot? If so, why the broker offers the Different type of account instead of just standard lot account?

Last edited by InwestorWkapeluszu; Dec 7, 2017 at 10:44am.
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Old Dec 7, 2017, 10:59am   #7
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try a demo account and see what happens
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Old Dec 7, 2017, 11:12am   #8
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InwestorWkapeluszu started this thread On a demo account:

Set an order for 100 000 - get 10$ on a 1 pip (standard lot)
Set an order for 10 000 - get a 1$ on a 1 pip (mini lot)

It still doesn't make sense for me why brokers have a different account type if I can set a different value for lot size on one account type and get a result that I want...
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Old Dec 7, 2017, 11:17am   #9
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InwestorWkapeluszu started this thread And one more think - Is a leverage connected to lot size that I place?
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Old Dec 7, 2017, 11:25am   #10
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1) find a broker that you like

2) read all about different types of account on that particular brokers site (DMA, dealing desk , minmum account size, spread, commission,leverage and more)

3) then try a demo
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Old Dec 7, 2017, 11:29am   #11
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InwestorWkapeluszu started this thread
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Originally Posted by kalott View Post

2) read all about different types of account on that particular broker's site (DMA, dealing desk, minimum account size, spread, commission, leverage and more)
Good point. I will certainly do that. thanks!
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Old Dec 7, 2017, 6:34pm   #12
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InwestorWkapeluszu started this thread One simple question - If I fill an order for 10 000 and get 1$ per pip, does it mean that I had some kind of leverage?

It depends on the size of the deposit that broker charge before making an order?

Do I got it correct?

Last edited by InwestorWkapeluszu; Dec 7, 2017 at 9:54pm.
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Old Dec 12, 2017, 1:29pm   #13
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If you have around 1k on your account, then yes
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Old Dec 13, 2017, 10:41am   #14
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InwestorWkapeluszu started this thread Thank You! Now I got it
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Old Dec 27, 2017, 8:53pm   #15
 
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Every broker has his own parameters of such accounts and first of all you should see what differences they have.
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