Lowest Minimum Bet Per Point??

[ton22]

Hi all,

Just a quick question, I have recently re-started trading after taking a little break to sort out a decent strategy for myself. I have an account with IG Index and in general find them ok. My account balance is pretty small at the minute and I'm hoping to build it up slowly over time. In my stategy I risk 2% per trade and generally trade FTSE 100 companies and Irish ISEQ companies when my strategy gives a signal. however, with IG Index the minimum bet for a lot of the markets is €1, if i am to have any decent size stoploss at all my risk of 2 % is blown out of the water. Not very good for someone trying to conserve a small trading balance!! I sometimes find that in order to set an apropriate stoploss my risk would have to be 20 - 30%
As far as I'm aware Oanda do it for currency trading but is there any broker who allows very small minimum bets on shares?
I hope i have explained my problem clearly, please help

 

[Masquerade]

Which shares? You can trade some penny shares at £1/pt on IG which is frankly nothing.

 

[ton22]

Which shares? You can trade some penny shares at £1/pt on IG which is frankly nothing.

I usually only look at the bigger compaies on the FTSE 100. do you know of any broker who operates the same way as Oanda do with curreny trading i.e. allow any size minimum bet?

 

[Masquerade]

I don't really i'm afraid. I'm not so involved with equities. I think for that size it's better going down the FX route. Then if you still feel the same way about equities to go back to them once your account is bigger. Good luck though.

 

[ton22]

I don't really i'm afraid. I'm not so involved with equities. I think for that size it's better going down the FX route. Then if you still feel the same way about equities to go back to them once your account is bigger. Good luck though.

Thanks for the advice Masquerade, i was thinking the same myself. if anybody else out there knows of such a broker could they please let Masquerade and I know????

 

[4tune]

Hi all,

Just a quick question, I have recently re-started trading after taking a little break to sort out a decent strategy for myself. I have an account with IG Index and in general find them ok. My account balance is pretty small at the minute and I'm hoping to build it up slowly over time. In my stategy I risk 2% per trade and generally trade FTSE 100 companies and Irish ISEQ companies when my strategy gives a signal. however, with IG Index the minimum bet for a lot of the markets is €1, if i am to have any decent size stoploss at all my risk of 2 % is blown out of the water. Not very good for someone trying to conserve a small trading balance!! I sometimes find that in order to set an apropriate stoploss my risk would have to be 20 - 30%
As far as I'm aware Oanda do it for currency trading but is there any broker who allows very small minimum bets on shares?
I hope i have explained my problem clearly, please help

I have the same problem, but I don't think you can find any broker that would allow less than £1 per pip. If you are using Limited Risk Account at IG Index, it is possible to bet 10p per pip for the first two weeks, but this amount increases to 20p in the third week, 50p in the fourth, and finally to 1£. The solution to the problem could be to trade low volatility and low priced stocks listed on the FTSE All-Share index and not just the top 100. F.e. go long of AAIF as it gained only 40 pips in the last 12 months, and only 15 pips in the last 2 months. Which means you only risk 15$ even if you set your stop level at the lowest support level of the last 2 months. If you want to risk max. 2% per trade, it means you need to have 750$ on your account.

EDIT: obviously this means that you have to trade in longer time-frames, from weeks to months.

 

[Ultimatus]

IG Index allow you to reset Tradesense after its finished if you email them.

Also, Finspreads offer 10p per point for the first 8 weeks.

 

[1Pipped]

party markets used to do 10p minimum bet size that lasted forever, I just had a look at the site but it looks like theyve changed a lot, couldnt find minimum bet size mentioned anywhere... they might still do it ...

 

[moreliver]

I use Finspreads. Minimum 50p/pt. Although depending on how little you have in your account you may find yourself priced out of some more expensive stocks. Better to have more in the account and give yourself some leg room, unless you're like me and playing for peanuts until I feel I can trust the strategy.

 

[Ultimatus]

moreliver: Finspreads say they offer 10p per point for 8 weeks. Can you confirm? Or is it 50p?

 

[4tune]

IG Index allow you to reset Tradesense after its finished if you email them.

This is not true, they do not allow you to reset your TradeSense. It is an introductory programme so once you have used the programme, you have to move onto normal trade sizes.

 

[Ultimatus]

4tune, IG have offered to do this for me, shall I tell them they are wrong?

 

[sahajtrader]

I use IGindex for betting smaller than 1GBP for testing new strats.

You can do it, but there is a small catch. You need to "open" the trade with 1GBP min

Once the trade is open, I just "partial close" the trade to whatever amount I wish, taking the "loss" on the partially closed position as a "cost" of testing the strategy. However, sometimes I find the market moves in my direction, so I end up with either 0 or a bit +ve on the partial closed position.

Try it out and see how it goes.

 

[apatel]

getdealing.com allow 0.10 per point on indices,FX,Bonds,Oil and Gold - it's not
bad newbies who want limited risk (stops are guaranteed)

 

[4tune]

4tune, IG have offered to do this for me, shall I tell them they are wrong?

I could ask the same question, since they did not allow it for me.

 

[mrleepsmith]

The margin constraints are irrelevant, the act of the matter is that 85% of us have to pay the spread so thats a psychological loss everytime you think of a new wheeze within your financial sphere. Personally I would put the seed money in premium bonds and save, save, save because every discerning 'High probability trader' needs 100 large and a robust discretionary system.

 

[moreliver]

moreliver: Finspreads say they offer 10p per point for 8 weeks. Can you confirm? Or is it 50p?

Ultimatus, I joined them quite some time ago and there was indeed some kind of teaser offer such as you describe. What they do for new accounts now I couldn't say.

 

[Hollu$]

To the OP - did you sign up to anywhere? I would be interested to see your thoughts on any specific account and I am in a similar situation.

 

[SanMiguel]

ETX do 50p pp on most things, lower invcrements on others.