montmorencyt2w
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It is aimed more for the intra day trader, if clients wish to run positions o/n or for long periods (which we don't charge for ) then they should be funding more money
I hope you warn people properly not to accidentally leave a trade open overnight, unless they have plenty of room in the account.
Which by the sound of it are totally inadequate compared to the actual risk.The fast moving markets can happen this is a risk to everybody, that's why margins are there.
If a cable position suddenly goes offside by 400 points say and the stop doesn't kick in, if this is $10/point, that's $4000, say £2,600 - a lot more than £1,000 anyway.
OK, doesn't happen very often (although there were big moves in the dollar, Euro, CHF and Wall Street today for example, maybe not that much), but it's a risk.
Its a big boys game
To which you are tempting the little boys by allowing over-leveraged £1,000 accounts. I had previously assumed that your account minimum size was something like £10,000 (which many people on T2W say is the minimum anyone should realistically trade with anyway). I was very surprised to hear that it was £1,000.