-
Join the MyBroadband community
South Africa’s biggest forum. Discuss, discover, and connect with thousands of members.
-
Question of the Day: How do you normally pay for purchases in stores?
Trading Gold on Micro accounts.
- Thread starter kitkat+
- Start date
Ig markets and think trader/markets. Both locally registered as well.
Both allow 0.01 lot size.
Bear in mind leveraged trading is extremely high risk.
Have fun.
Pho3nix
The Legend
Exness
Thanks for the suggestion. I was looking for a broker offering a contract size of 1 or 10 on Gold.
There is a difference between lot size and contract size. The contract size determines the pip value. Eg# with IFX Brokers, when trading NAS100, a standard lot is around R20 per pip, and a micro (0.01) is around 20c per pip, assuming 1 point is 10 pips( NAS100 has a contract size of 10). Because gold typically has a contract size of 100, the pip value would be R2 on a 0.01 lot size, again assuming 1 point move is 10 pips.
I have heard that some brokers do offer mico accounts or cent accounts, but I have not found any with good reviews as yet.
Thanks
Kitty
Will check them out, but I doubt they offer smaller contract sizes on Gold
Pho3nix
The Legend
Cent account should speak to your need.
In regards to Nas, contract size is different compared to international brokers because it’s the popular trading instrument in SA. See all the ponzi’s.
Cent account should speak to your need.
In regards to Nas, contract size is different compared to international brokers because it’s the popular trading instrument in SA. See all the ponzi’s.
Any feedback on Exness ? Or any other broker with cent accounts ?
Pho3nix
The Legend
In SA they are the only one that’s not a fly by night and have a FSCA number that’s theirs
Broker is fine albeit their spreads are not amazing. No issues with withdrawals etc.