Micro accounts are based on the Market-maker model, i.e. there is no direct access to the Forex market (interbank market), as a broker (dealing center) makes a market for its clients. A company becomes a liquidity provider that quotes both a buy and a sell price in a financial instrument. Traders' deals are executed in an instant manner: an instant execution order is one that’s executed at the price on the screen. If the price is not available any more in the market, there will be a 're-quote'.
Today, FXOpen offers the only one account based on Market Maker model - Micro.
FXOpen Micro – so called "Cent accounts" are the best variant for newbie traders who can try Forex trading without the risk of large principal loss but also great for experienced traders who’d like to try new strategies.
No micro demo accounts available.
|Available to clients of FXOpen Markets only.|
|Broker||FXOpen Markets Limited|
|Leverage||up to 1:500. |
For accounts with a balance of US$3000 or more, the leverage is reduced 100x (for example from 1:500 to 1:5).
|Trading Instruments||28 currency pairs + gold and silver |
|Margin Call ||20%|
Learn more about the Micro trading account on the company's official page.
News trading and scalping are allowed with limitations.
- Scalping: 1) Stop Loss, Take Profit and Pending Orders must be placed 50 pips or more away from the current price; 2) Most of your trades must be held open for at least several minutes.
- News trading: Placing, modifying or deleting pending Buy Stop and Sell Stop orders (including opposite Stop orders) is not permitted during the Freeze Time (immediately before, during and some time after news release).