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Thread: trade specifications

  1. #1
    Super Moderator nonamer's Avatar
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    Quote Originally Posted by prolog View Post
    My account just got approved..

    When I opened it, the balance says 0.00


    Where's the welcoming bonus?

    sorry, just found out that i need to deposit first.. lol


    u may close this thread

    Since the fxopen homepage doesn't describe anything about the trade specs, I want to know the followings for both micro and standard accounts.



    1. Minimum SL in pips
    2. Minimum TP in pips
    3. Margin call policies.. Is there fast margin call policy like some brokers? At exactly what point do we get a margin call.
    4. Rollover rates
    5. Opening time on sunday (EST) and closing time on Fri (EST)
    6. Contract sizes.. minimum size, maximum size and step sizes for both micro and standard
    7. Number of trades limit whether per hour or per day or per month or whenever

    And I'm a little confused between Micro and standard lot sizes..
    What's the difference between micro and standard?





    Is the only difference between micro and standard is that micro account is indicated in cents?


    So in micro account on MT4, do we open trades as usual by tying the same contract sizes as in standard? 0.1, 1, 10





    for example, to open a position of 100 of the base currency in micro, what should we type in the new order window on MT4? 0.1 or 0.001?
    1 & 2. U t/p or s/l must 10 pip different from open price or market price or order price.

    3. http://forum.fxopen.com/showpost.php...92&postcount=7
    http://forum.fxopen.com/showpost.php...40&postcount=2

    4. U can check rollover rate on u meta4
    Go to market watch---> right click ---> then choose what pair u want to know ---> then click properties --> then check the swap long or short u want to know .

    5. http://forum.fxopen.com/showpost.php...41&postcount=3

    6 & 7.
    -Trading volume from 0.1 standard lot, 1 pip is 1 USD approximately (1 standard lot =100000 points of the base currency)
    -Trading volume from 0.1 micro lot, 1 pip is 1 cent approximately(1 micro lot = 1000 points of the base currency) *balance on micro accounts is indicated in cents
    -http://www.fxopen.com/ContractsSpecifications.aspx
    -Maximum open trade at the same time limit to 100 open trade only.
    -Maximum lot are 1000lot u can open for 1 trade.
    -No limit for u to open trade for 1 day or 1 week or 1 month.


    If u can see clearly standard account minimum lot 0.1lot value pip at 1usd/1pip while micro account 01.lot value pip are 1cent/1pip.
    Micro account are for client who want to trade start value 1pip/1cents while standard for expert trader normally. Not all client can trade 1usd/1pip so we give to client opportunity to get experience in trading before jumped into standard account which mean more high risk.

    Thanks

    ** I'm sure if u search, a few answer can get on the main paged fxopen .
    Dont ask to many question, some of u question already have an answer on this forum. Please search.

  2. #2
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    Thanks abang...

    So I still type in the same numbers for lots in micro as in standards?



    I'm confused with **** and other brokers where we have to type 0.001 or 0.0001 for micro and nano respectively.

  3. #3
    Director of FXOpen Aus FXOjafar's Avatar
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    Quote Originally Posted by prolog View Post
    Thanks abang...

    So I still type in the same numbers for lots in micro as in standards?



    I'm confused with **** and other brokers where we have to type 0.001 or 0.0001 for micro and nano respectively.
    Our Micro accounts are designated in cents so $100 will look like $10k. You still should trade according to your risk strategy of course and trade it as if it really is $10k.
    Jafar Calley - Director
    FXOpen AU Pty Ltd
    Level 26 • 1 Bligh Street
    Sydney NSW 2000
    Australia
    AFSL:412871 ABN:61 143 678 719
    http://www.fxopenaus.com

  4. #4
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    Quote Originally Posted by RebateFX.com View Post
    Our Micro accounts are designated in cents so $100 will look like $10k. You still should trade according to your risk strategy of course and trade it as if it really is $10k.
    Thanks..
    So I trade $100 as if it's $10k

    It's clear now..


    Thanks a lot

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