Not our client? Register now!
Contact

Visit our Website
www.fxopen.com

Email our helpdesk
[email protected]

Call us
New Zealand | +64 9 801 0123
Russia | +7 499 346 0381

Knowledge base: Real trading accounts
Micro
Posted by Olga Palikarpava on 13 January 2014 10:35 AM

Русский 中文

Micro accounts are based on the Market-maker model, i.e. there is no direct access to the Forex market (interbank market), as a broker (dealing center) makes a market for its clients. A company becomes a liquidity provider that quotes both a buy and a sell price in a financial instrument. Traders' deals are executed in an instant manner: an instant execution order is one that’s executed at the price on the screen. If the price is not available any more in the market, there will be a 're-quote'.

Today, FXOpen offers the only one account based on Market Maker model - Micro.

FXOpen Micro – so called "Cent accounts" are the best variant for newbie traders who can try Forex trading without the risk of large principal loss but also great for experienced traders who’d like to try new strategies. 

No micro demo accounts available. 

  Micro
Trading platform MetaTrader 4
Account currency  USD
Execution Instant
Minimum deposit $1.00
Maximum balance $3000.00
Spread Floating
Commissions No
Pricing format 0,12345
Minimum transaction size 0.1 Micro lot (100 units of the base currency) with approx. 1 US Cent per 1 pip. 
Maximum transaction size 1 000 microlots
Leverage up to 1:500. For accounts with a balance of US$3000 or more, the leverage is reduced 100x (for example from 1:500 to 1:5). 
Financial instruments 28 currency pairs + gold and silver 
Margin Call 20%
Stop Out 10%
Trading time 00:00 Mon – 22:59 Fri (FXOpen Server Time)
Contracts specifications

Micro allows Hedging and Phone Dealing, as well as Expert Advisors using. 

News trading and scalping are allowed with limitations.

  • Scalping: 1) Stop Loss, Take Profit and Pending Orders must be placed 50 pips or more away from the current price; 2) Most of your trades must be held open for at least several minutes. 
  • News trading: Placing, modifying or deleting pending Buy Stop and Sell Stop orders (including opposite Stop orders) is not permitted during the Freeze Time (immediately before, during and some time after news release).

Use FAQ for getting more information on Forex trading.

(24 vote(s))
This article was helpful
This article was not helpful