DMA , only worth it at £500 a poin ?! GFT Markets

[phoenix25140]

Hi all, me and a friend have been trading forex part time for over 3 years now.
We are now at the stage of considering doing it full time. We are getting beaten up by spreads, slippage, poor charting packages & data.

I spoke with a guy from GFT markets, I asked about DMA and the costs involved and he was saying at least £20,000 in the account, which we have but its not worth it as the minimum trade is around £500 per point.

Does anyone have experience with this type of direct market trading?

Thanks
Nathan

 

[Shakone]

Minimum trade on what is 500 per point? The big S&P contract?

 

[piggybridges]

you're trading forex? So you'd want to trade currency futures contracts? 6b (cable)is like $6 per pip or something trading with 1 contract?

 

[mike.]

Nathan , have a look through fxcm web site, you can choose what lot size you wish to trade with one account.. standard, mini and micro lot's . $50 is minimum deposit I think,

 

[Magos]

Just open an ECN account you should not be paying for anything!