Trading on a micro bank-roll

[jimmer3]

Hi guys,

Great forum btw!

I've been trading the FTSE-20 minutes markets on Betfair for approx 1yr and making a few quid profit here-and-there. It’s nothing more than a hobby and fits in nicely with my lifestyle.

However, if I want to trade on other markets over a 20-30 minute periods, Betfair is very poor as the spreads are too large and the chances of getting my offers matched are very rare.

I was wondering if anyone could point me in the direction of a stock-brokers, spread betting firm or bookie’s who can satisfy all of the list below;
1. Would happily let me bet/risk as little as £5 per transaction.
2. Have tight spreads (as I will only be trading for 30min periods max)
3. Have a good selection of markets and trade opportunities
4. Don’t charge a membership fee.

I need to match all of the above requirements as my bankroll will be approx £200 and I don't want to risk more than 3-5% on any one trade.

I appreciate you are not usually dealing with such minor questions or small monetary values, but would still really appreciate your help.

All comments welcome.

Kind regards
Jimmer

 

[LiamH]

For Forex markets FXCM Micro & Oanda are top notch and you can easily trade a £200 account with them.

For everything else I believe most spreadbetting firms will let you bet 50p per pip but that would limit you to a 20 pip stop on a £200 account risking 5%. If that's no good then I believe IG allow you to trade smaller amounts for a limited amount of time when you open the account.

 

[mitchy39]

Finspreads is quite good too, they will let you trade for 10p /pip for a 2 month period. After that its 50p/pip but a clear platform to use & also if you have an iphone you can download an app so you can trade anywhere.

 

[shadowninja]

Jimmer3, your problem is that you won't get the ladder you are used to which allows you to trade slightly differently to how you might trade with normal spreadbetting companies... spreads are going to be crazy elsewhere, for a start, as you're betting against the spreadbetting co's rather than other "traders".