Aug 27 2008
Start Trading with as Little as $25
For years FX Solutions had built up a client base heavy in super mini (1K) accounts.
I've touched on this before when I originally heard about it at the Los Angeles Traders Expo, but now FXCM has jumped into the fray with its www.forexmicrolot.com website.
Only the marketing schtick here is not Open an Account with $300, but open one with a mere $25.
The general concept makes me wonder if this really engenders trading success. My personal opinion is that it doesn't and I'm not a fan. This isn't a broker ranking or review, but just my thoughts on the concept of these microscopic accounts.
Managing trader expectations is my primary responsibility at Trading Post. There are too many "traders" who are more gamblers than anything, who expect maximum returns for a minimum investment.
By and large it doesn't work that way. You are not going to take $25 and make it $1 million in a year. Trading requires a more substantial investment of risk capital.
But what do you think? Does your experience dictate otherwise?
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