0.01 lots at 1 cent per pip | Forex Factory

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0.01 lots at 1 cent per pip

  • #1
  • First Post: Apr 11, 2008 4:41am Apr 11, 2008 4:41am
I have been using InterbankFX mini for my small live account. What I like about this broker is that it offers 0.01 lots at the price of 1 cent per pip.

Most 0.01 lot brokers like Alpari offers their price at 10 cents per pip.

Apart from InterbankFX, does anyone else know any broker that do 1 cent per pip?
  • #2
  • Apr 11, 2008 5:01am Apr 11, 2008 5:01am
Yeah, but they're not in the US/UK, and are not trustworthy.
  • #3
  • Apr 11, 2008 5:31am Apr 11, 2008 5:31am
Quoting Azmel
I have been using InterbankFX mini for my small live account. What I like about this broker is that it offers 0.01 lots at the price of 1 cent per pip.

Most 0.01 lot brokers like Alpari offers their price at 10 cents per pip.

Apart from InterbankFX, does anyone else know any broker that do 1 cent per pip?
Because IBFX gives 0.001 lot
  • #4
  • Apr 11, 2008 5:48am Apr 11, 2008 5:48am
What about Oanda?
  • #5
  • Apr 11, 2008 6:07am Apr 11, 2008 6:07am
Quoting metcalfe
Because IBFX gives 0.001 lot
The minimum lot size for IBFX is actually 0.01 lot - but you are right because their 0.01 lot it is actually valued the same as a 0.001 standard lot, which is 1 cent per pip.

Does Oanda also offer 1 cent per pip like IBFX?
  • #6
  • Apr 11, 2008 6:58am Apr 11, 2008 6:58am
They offer anything down to one single unit.

So if you go long in the EUR/USD at 1.5000 with one unit and sell at 1.5001 you have made $0.0001.

It's simple:
1 standard lot = 100,000 units
1 mini lot = 10,000 units
1 micro lot = 1,000 units
1 nano lot = 100 units

As I've mentioned, Oanda goes down to 1 unit, that's 1 femto lot.

Regards - Xaron
  • #7
  • Apr 11, 2008 8:04am Apr 11, 2008 8:04am
Quoting Xaron
They offer anything down to one single unit.

So if you go long in the EUR/USD at 1.5000 with one unit and sell at 1.5001 you have made $0.0001.

It's simple:
1 standard lot = 100,000 units
1 mini lot = 10,000 units
1 micro lot = 1,000 units
1 nano lot = 100 units

As I've mentioned, Oanda goes down to 1 unit, that's 1 femto lot.

Regards - Xaron
You talking about MT4 Standard. On Interbank market one standard lot is 1M which is 1,000,000.
  • #8
  • Apr 11, 2008 8:16am Apr 11, 2008 8:16am
That's not the MT4 standard. A lot is $100,000 for dollar based currencies.

Regards - Xaron
  • #9
  • Apr 11, 2008 8:41am Apr 11, 2008 8:41am
The price for 1 standard lot in IBFX is worth 100,000 base currency.

The price for 1 mini lot in IBFX is worth 10,000 base currency. That is why their 0.01 lot is worth 1 cent per pip. Other brokers like Alpari, their 0.01 lot is worth 10 cent per pip.

This is a simple EA to gauge what is the lot price is:

int start()
{
Comment("Price per Lot = ",MarketInfo(Symbol(),MODE_LOTSIZE));
return(0);
}

On an IBFX mini, it will return 10,000 but on Alpari it will return 100,000
  • #10
  • Apr 16, 2008 8:41pm Apr 16, 2008 8:41pm
Can't you just reduce the leverage of the account to say 1:10 or 10:1 or whatever it is and take 0.01 lot trades thereby effectively doing 0.001 lot trades with a 1:100 leverage account?
  • #11
  • Last Post: Apr 16, 2008 10:43pm Apr 16, 2008 10:43pm
Quoting Atomic_Sheep
Can't you just reduce the leverage of the account to say 1:10 or 10:1 or whatever it is and take 0.01 lot trades thereby effectively doing 0.001 lot trades with a 1:100 leverage account?
Can you?
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