UK broker - 0.001 lot size

[LesE]

I am looking for a good UK based broker that will enable me to trade in GBP with lots of 0.001 size and preferably using MT4.
Does anyone have any recommendations? I've been looking myself but it is a minefield and I am finding the terms mini and micro lots mean different things to different people!
Tia
Les

 

[tar]

do u mean 100 units ? i dont think so but i am not sure , but alpari offers 0.01 lot = 1000 unit ...

 

[shadowninja]

0.001 lots is ridiculously small. If you really need to trade that small then you probably ought to just demo trade. Oanda.com lets you do this size, however.

 

[LesE]

0.001 lots is ridiculously small. If you really need to trade that small then you probably ought to just demo trade. Oanda.com lets you do this size, however.

I am using Scaled Equation from Hedge Master and it works very well. But to use it you really need 0.001 lots because you place at least 4 trades per signal and possibly 6.
Do Oanda let you have an account in GBP?

 

[wasp]

Alpari UK will let you go 0.01 but not 0.001 I don't think..

 

[tar]

I am using Scaled Equation from Hedge Master and it works very well. But to use it you really need 0.001 lots because you place at least 4 trades per signal and possibly 6.
Do Oanda let you have an account in GBP?

yes

https://fxtrade.oanda.com/your_account/fxtrade/multicurrency_accounts.shtml

 

[£10kLoser]

I agree, 0.001 lots is so small as to be pointless! 0.01 lots is 10c a pip and nobody can trade much smaller than that without using up more electricity than any possible profits.

 

[TheHoneyMonster]

ODL securities?

 

[LesE]

ODL securities?

As far as I can see from their web site ODL's minimum is £1 per point.

 

[LesE]

I agree, 0.001 lots is so small as to be pointless! 0.01 lots is 10c a pip and nobody can trade much smaller than that without using up more electricity than any possible profits.

Well that's your opinion but you've missed the point.
With Scaled Equation the money management system requires you to place up to 6 orders per trade which is why it is necessary to use very small lot sizes. I agree that if you are placing one order per trade then 0.001 is too small to make the effort worthwhile but SE is a bit different.

 

[gle101]

Well that's your opinion but you've missed the point.
With Scaled Equation the money management system requires you to place up to 6 orders per trade which is why it is necessary to use very small lot sizes. I agree that if you are placing one order per trade then 0.001 is too small to make the effort worthwhile but SE is a bit different.

I have not seen a MT4 broker with 0.001 lots. Micro lots 0.01 is probably the smallest lot size they can offer. It is probably not economically worthwhile having a smaller lot size running the MT4 platform.

 

[tar]

I have not seen a MT4 broker with 0.001 lots. Micro lots 0.01 is probably the smallest lot size they can offer. It is probably not economically worthwhile having a smaller lot size running the MT4 platform.

intetbankfx but they r not in the UK

 

[gle101]

intetbankfx but they r not in the UK

Yes you are right, they offer nano accounts using the MT4 platform.

 

[LesE]

Yes you are right, they offer nano accounts using the MT4 platform.

Thanks but I have already got a demo account with Interbank. They seem ok but I would rather have an account in my own currency - GBP- and they only do USD accounts.
Hence my original posting.

 

[kiralytommy]

IBfx Australia has a mini account (1 lot=10.000) with a 0.01 order size. This means 1 cent/pip.
Cheers