FXCM Micro
FXCM Micro is a discount brokerage division of FXCM (Forex Capital Markets LLC). FXCM is a retail forex broker regulated in Canada, United States of America, Dubai, France, Australia, Hong Kong and the United Kingdom. It is a registered Futures Commission Merchant with the CFTC and is a member of the NFA. FXCM Micro has been there for the past three and a half years.
FXCM Micro provides No Dealing Desk trading execution which eliminates any conflict of interest between the trader and the broker. It ensures that there is no dealer intervention in trades. No Dealing Desk trades are performed with one of the world’s major banks and financial institutions that compete to offer FXCM with ask and bid prices and spreads as low as one pip.
FXCM Micro Account
FXCM Micro allows traders in the forex market to open an account with as little as twenty five dollars. The FXCM Micro account gives this facility of starting with extremely low deposit amount as an opening balance. The low cost entry is quite helpful to the beginners in forex trade who are not much familiar with the currency market. The low cost account prevents the traders from incurring heavy losses in the beginning and it allows them to understand the trading procedure sufficiently well.
In addition to this low entry fee, the FXCM Micro account opener has been provided with good service support like seminars and free tools for the beginners. This small dimensional trading offers a good way to learn the essentials of the currency trading market. Once you are comfortable with the performance of the small account as a trader, you can then go on to the large size trading.
FXCM Micro and Expert Advisors
MetaTrader 4 is good trading software for forex. This trading software is available for all traders who open specific types of accounts. MetaTrader 4 is the pioneer platform leader in the forex industry for Expert Advisors which is designed by the ODL Securities. Expert Advisors is the software that can perform the entire trading procedure without much intervention on your part. Expert Advisors play an important role in increasing the forex world automation.
This particular software is gaining popularity in the forex world because of its extra ordinary features. It is considered as the best software for trading. Most of the forex brokers give free demo forex accounts for clients who are entering the currency trading market. The trial period may last for a month. New traders can access the FXCM Micro free demo account by filling the form and then submitting it for review. FXCM Micro is positioned to give twenty four hours’ multilingual sales along with administrative and technical support.
FXCM Micro and the King of Micro Trading Contest
Every month, FXCM Micro is hosting a contest which is called `King of Micro Trading’. You are allowed to show off your skills here as a forex trader. The reality of the matter is that when you take a closer look on the returns that have been made in the recent months from the winners of this contest, it looks more like gambling takes rather than actual currency trading returns. The reason behind this could be extreme use of leverage or over trading. For example, one winner had a return of almost eight hundred per cent few months back. It sounds more like a jackpot.
To enter the FXCM Micro ‘King of Micro Trading’ contest, you need to have a real Micro Account with a minimum balance of five hundred dollars at the beginning of the month.