UK broker - 0.001 lot size

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LesE

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I am looking for a good UK based broker that will enable me to trade in GBP with lots of 0.001 size and preferably using MT4.
Does anyone have any recommendations? I've been looking myself but it is a minefield and I am finding the terms mini and micro lots mean different things to different people!
Tia
Les
 
do u mean 100 units ? i dont think so but i am not sure , but alpari offers 0.01 lot = 1000 unit ...
 
0.001 lots is ridiculously small. If you really need to trade that small then you probably ought to just demo trade. Oanda.com lets you do this size, however.
 
shadowninja said:
0.001 lots is ridiculously small. If you really need to trade that small then you probably ought to just demo trade. Oanda.com lets you do this size, however.
Click to expand...
I am using Scaled Equation from Hedge Master and it works very well. But to use it you really need 0.001 lots because you place at least 4 trades per signal and possibly 6.
Do Oanda let you have an account in GBP?
 
Alpari UK will let you go 0.01 but not 0.001 I don't think..
 
I agree, 0.001 lots is so small as to be pointless! 0.01 lots is 10c a pip and nobody can trade much smaller than that without using up more electricity than any possible profits.
 
£10kLoser said:
I agree, 0.001 lots is so small as to be pointless! 0.01 lots is 10c a pip and nobody can trade much smaller than that without using up more electricity than any possible profits.
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Well that's your opinion but you've missed the point.
With Scaled Equation the money management system requires you to place up to 6 orders per trade which is why it is necessary to use very small lot sizes. I agree that if you are placing one order per trade then 0.001 is too small to make the effort worthwhile but SE is a bit different.
 
LesE said:
Well that's your opinion but you've missed the point.
With Scaled Equation the money management system requires you to place up to 6 orders per trade which is why it is necessary to use very small lot sizes. I agree that if you are placing one order per trade then 0.001 is too small to make the effort worthwhile but SE is a bit different.
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I have not seen a MT4 broker with 0.001 lots. Micro lots 0.01 is probably the smallest lot size they can offer. It is probably not economically worthwhile having a smaller lot size running the MT4 platform.
 
gle101 said:
I have not seen a MT4 broker with 0.001 lots. Micro lots 0.01 is probably the smallest lot size they can offer. It is probably not economically worthwhile having a smaller lot size running the MT4 platform.
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intetbankfx but they r not in the UK
 
gle101 said:
Yes you are right, they offer nano accounts using the MT4 platform.
Click to expand...
Thanks but I have already got a demo account with Interbank. They seem ok but I would rather have an account in my own currency - GBP- and they only do USD accounts.
Hence my original posting.
 
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