Help with MT5 Demo Account

Him

Trader
Feb 22, 2020
2
0
6
27
Is this considered 10 lots or $10 per pip movement?
View attachment 15520
Only reason I’m asking is because most sources place 1 lot (100,000 units) at a movement of $10 per pip. But when I set my leverage at 100:1 and Account to $100,000 the picture above traded at $10 per pip. When I changed it from $100,000 to $3,000 to be realistic, it told me I didn’t have enough money which confuses me. Based off of having an account of $3000 with 100:1 leverage I should be able to execute a trade(1lot) being that the required margin for 1 lot is only $1084.74. If you’re only going to recommend websites and books I should read please don’t answer.
 

Enivid

Administrator
Staff member
Nov 30, 2008
18,535
1,355
144
Odesa
www.earnforex.com
One standard lot is 100,000 units of currency. With 1:100 leverage, you should be able to buy or sell 1 standard lot of most currency pairs. Perhaps, your leverage isn't 1:100? Or you are trying to trade 1 lot of some CFD, not currency pair?
 

Enivid

Administrator
Staff member
Nov 30, 2008
18,535
1,355
144
Odesa
www.earnforex.com
No, it was 1:100 trading with EUR/USD and it told me I don’t have enough.

Some possible reasons for this:
1. EUR/USD has a custom maximum symbol leverage (lower than 1:100) associated with it.
2. The leverage is floating - it diminishes with the trade volume. Some brokers use such scheme. You can ask yours if they do.
3. Your broker uses unconventional lot sizes (greater than 100,000 units).
4. You have some other trades open that use your margin.