Micro forex

[decathlonbr]

Hi, all!

Have you trade micro forex? Is it affordable?

 

[UKtradergirl]

Hi, all!

Have you trade micro forex? Is it affordable?

Depends how you define affordable. You should only trade (especially to begin with) with money you don't mind losing.. whether you are trading $1,000,000 or $1.

If the account minimums scare you, don't do it.

 

[cryten]

What tradergirl said plus yeah micro is pretty much affordable for most imo. Download a demo from Alpari and see for youself.

 

[decathlonbr]

By affordable I mean any kind of money lost that is different from non-Micro forex. Ex: bid/ask difference or any hidden fee.

 

[Magos]

Hi, all!

Have you trade micro forex? Is it affordable?

Definitions in FX:
1 lot = 100,000
Tick = minimum amount that the price of an instrument can fluctuate upward or downward

i.e.
a tick in 1.0 lot GBPUSD should be $10

if you trade micro
1 micro = 0.01 lot
a tick in GBPUSD should be $0.1=10 pence

Should be affordable I guess

 

[Elvis T]

I have seen some micro accounts that have minimums of $25.00.

If you are good you could easily turn the micro into a mini account ($10,000 lots that cost $100) and then into a full account.

It just takes time and patience to do this though.

 

[Magos]

the best idea is either trade small and then go big.
or if you are not sure paper-trade for sometime first

Just take it easy.

If you have alot of winners and you use stops and take profits then increase your size
else dont bother

 

[sweetasbro]

If your looking to practise some strategies it can be okay, maybe you should practise on a demo account, if you want to make money your highly likely to lose it.