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Mini account with MT4?

  • #1
  • First Post: Oct 12, 2006 8:51am Oct 12, 2006 8:51am
Hi,

I am ready to risk $250 and would like to know if someone could point me to a broker with Mini accounts on the MT4 trading platform.

Thanks!
//C
  • #2
  • Oct 12, 2006 8:59am Oct 12, 2006 8:59am
you can open one with interbankfx for 250 dollars.
  • #3
  • Oct 12, 2006 8:50pm Oct 12, 2006 8:50pm
Quoting cdysthe
Hi,

I am ready to risk $250 and would like to know if someone could point me to a broker with Mini accounts on the MT4 trading platform.

Thanks!

Considering your account size I think you mean micro lots (1,000), not mini (10,000).

IBFX was mentioned. FXDD also has micro lots. Be sure to specify micro with FXDD, it is not automatic.
  • #4
  • Oct 12, 2006 9:26pm Oct 12, 2006 9:26pm
Quoting Snuffleupagus
Considering your account size I think you mean micro lots (1,000), not mini (10,000).

IBFX was mentioned. FXDD also has micro lots. Be sure to specify micro with FXDD, it is not automatic.

FXDD does NOT offer micro lots. I called them regarding this and they said that they dont offer micro lots just yet.
Is there someone out there trading micro lots with FXDD? Please let us know.
  • #5
  • Oct 12, 2006 10:13pm Oct 12, 2006 10:13pm
Hi,

Thank you guys for advice. I suddenly realized that Crown Forex who I have had a demo account with for a while offers Mini accounts with a minimum of $500 deposit. And they offer MT4. Their service while I have been demoing has been great, and their spreads are outstanding: Mostly 1 pip but more for some during rush hour and news breaks. They are Swiss though so setting up an account means a lot of paper work and funding by wire transfer. With FXDD it all is much easier with funding through PayPal for instance.

What worries me a little about Crown Forex is that they do not seem to be very well known, so maybe I should go for FXDD and not take chances on the unknown? Better to be safe than sorry I guess...
//C
  • #6
  • Oct 12, 2006 10:33pm Oct 12, 2006 10:33pm
Quoting PipStar
FXDD does NOT offer micro lots. I called them regarding this and they said that they dont offer micro lots just yet.
Is there someone out there trading micro lots with FXDD? Please let us know.
Pipstar,
FXDD has microlots and i am trading Microlots with them. You will have to call and request them to allow your account to have Microlot capability.
  • #7
  • Oct 13, 2006 11:26am Oct 13, 2006 11:26am
Quoting forexplayer
Pipstar,
FXDD has microlots and i am trading Microlots with them. You will have to call and request them to allow your account to have Microlot capability.

hey forexplayer thanks for your advice, i have contacted fxdd today and this was the answer:

"
Dear sir

That is correct we offer microlots on our metatrader 4 platform .
Please put this in your request for metatrader 4 account

Please feel free to contact us at any time.

Regards fxdd.
"

thats good to know :

  • #8
  • Oct 13, 2006 11:57am Oct 13, 2006 11:57am
Quoting ART_1_
hey forexplayer thanks for your advice, i have contacted fxdd today and this was the answer:

"
Dear sir

That is correct we offer microlots on our metatrader 4 platform .
Please put this in your request for metatrader 4 account

Please feel free to contact us at any time.

Regards fxdd.
"

thats good to know :

Thanks. I think I'll end up with FXDD account unless someone tells me they're no good. They seem to be "approved" here which is a good thing.
//C
  • #9
  • Oct 14, 2006 11:03am Oct 14, 2006 11:03am
Quoting PipStar
FXDD does NOT offer micro lots. I called them regarding this and they said that they dont offer micro lots just yet.
Is there someone out there trading micro lots with FXDD? Please let us know.
They DO offer micro lots as I previously mentioned. I have been trading micro lots at FXDD since June 27th.

I would suggest you talk to someone else or email them. You need to be using MT4.
  • #10
  • Oct 16, 2006 3:25am Oct 16, 2006 3:25am
Quoting Snuffleupagus
They DO offer micro lots as I previously mentioned. I have been trading micro lots at FXDD since June 27th.

I would suggest you talk to someone else or email them. You need to be using MT4.
A mini lot is 10k and 1 pip is $ 1.00

A micro lot is less than 10 k and 1 pip can be say 50 cs, 10 cs or even 1 cent. If you can trade less than 10k lots it is a micro lot. Please confirm.
  • #11
  • Oct 16, 2006 7:09am Oct 16, 2006 7:09am
Quoting PipStar
A mini lot is 10k and 1 pip is $ 1.00

A micro lot is less than 10 k and 1 pip can be say 50 cs, 10 cs or even 1 cent. If you can trade less than 10k lots it is a micro lot. Please confirm.

i can confirm, look at the mail which i got today:

"
Dear Sir,

Per your request, your account has been enabled to trade micro lots. Thank you for giving us the opportunity to earn your business.





Regards,



Roodmy Cesar

FXDD Sales/support

75 Park Place, 4th flr

New York, NY 10007

Tel: 212.791.3950

Fax: 212.937.3845

[email protected]

www.fxdd.com

"

i can trade now: 0.01 this is 10cent/pip on XXX/USD pairs
  • #12
  • Oct 16, 2006 6:45pm Oct 16, 2006 6:45pm
Quoting PipStar
A mini lot is 10k and 1 pip is $ 1.00

A micro lot is less than 10 k and 1 pip can be say 50 cs, 10 cs or even 1 cent. If you can trade less than 10k lots it is a micro lot. Please confirm.

Already did. See post #3
  • #13
  • Oct 17, 2006 4:19pm Oct 17, 2006 4:19pm
The only thing scares me about fxdd is that they or not reg with nfa. now there parent company is but not fxdd. we all know what happen with refco. overall they are a good broker.
If I Go Broke Trying Then I Will die happy.
  • #14
  • Oct 17, 2006 5:02pm Oct 17, 2006 5:02pm
My experience with FXDD was down right miserable. They were the worst I've dealt with.
  • #15
  • Oct 17, 2006 5:59pm Oct 17, 2006 5:59pm
Quoting stockwet
My experience with FXDD was down right miserable. They were the worst I've dealt with.
what was the problem's
If I Go Broke Trying Then I Will die happy.
  • #16
  • Oct 17, 2006 9:34pm Oct 17, 2006 9:34pm
Quoting Moe
The only thing scares me about fxdd is that they or not reg with nfa. now there parent company is but not fxdd. we all know what happen with refco. overall they are a good broker.

I wonder whether it makes much difference. Wasn't Refco registered with the NFA and it made no difference in the end.
  • #17
  • Oct 17, 2006 10:24pm Oct 17, 2006 10:24pm
Quoting stockwet
My experience with FXDD was down right miserable. They were the worst I've dealt with.
What happened?

Is there another one you prefer?
  • #18
  • Oct 18, 2006 4:48am Oct 18, 2006 4:48am
Quoting forexplayer
Pipstar,
FXDD has microlots and i am trading Microlots with them. You will have to call and request them to allow your account to have Microlot capability.

I have to say that you were right. I had to call them and they enabled micro lots. Thanks.
  • #19
  • Oct 19, 2006 5:00am Oct 19, 2006 5:00am
Quoting PipStar
I have to say that you were right. I had to call them and they enabled micro lots. Thanks.
whats your experience with them
If I Go Broke Trying Then I Will die happy.
  • #20
  • Last Post: Oct 19, 2006 5:38am Oct 19, 2006 5:38am
The main problem with FXDD is that it is almost impossible to place a market order at news time and very hard to close an open order just after news. I keep getting the message 'Price has moved' or similar. They do not widen the spread as much as some other brokers; during US CPI yesterday the euro spread was 4 pips. They dont allow you to place entry orders less than 15 pips from price before an announcement.

During non-news time, their spreads are fixed as far as I can see. If you dont trade the news, I suppose they are ok. I use several brokers because each broker has its own advantages for me.
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