Bro, I want to ask if there are any brokers other than InstaForex with a per pip value of 1 USD (1 lot X 1 pip = 1 USD) or with a contract size of 10,000?
Most of the brokers I know have a per pip value of 10 USD (1 lot X 1 pip = 10 USD)
Thank you, Bro
The easiest thing is what type of account is used?
If on Insta a standard account, then:
lot 1.00 = $1.00/pips contract size 10,000
lot 0.10 = $0.10/pips contract size 1,000
Lot 0.01 = $0.01/pips contract size 100
If you find a broker where 1 lot = $10/pips when broken down:
lot 0.01 = $0.10/pips contract size 1,000
lot 0.10 = $1.00/pips contract size 10,000
lot 1.00 = $10.00/pips contract size 100,000
As for the terms cent, mini, micro or standard accounts, each broker differs in the application of its contract size. So you can investigate, if
1 lot is $100/pips what is the contract size? just break it down.
Thanks
@ Untung Sarjito:
All brokers are the same, for 1 lot on the XXX/USD pair (EUR/USD, GBP/USD, AUD/USD, etc.) the value per pip for 1 lot is USD 10, including InstaForex. 1 lot has a contract value of standard (regular) which is USD 100,000.
If you want the value per pip = USD 1 for the XXX/USD pair, then you need to trade at 0.1 lot or what is commonly referred to as a mini lot where the contract value is USD 10,000.
Currently, almost all brokers offer mini accounts where you can trade with mini lots, not just InstaForex.
Please read at: Forex Broker Review
So is it true that only Insta is like this? Or are there other brokers besides Insta that master knows of? @ Untung Sarjito & Surahman:
Sorry, my previous answer was wrong. Specifically for InstaForex, it does have its own standard as you mentioned, which is for 1 lot the pip value = USD 1.
I did not pay attention to the standard size because I have never traded at InstaForex. I initially thought all brokers used the same standard. In my opinion, InstaForex created its own standard because this broker is indeed not regulated by any specific regulatory body.
I asked the InstaForex head office in Russia why their size is not standard, and they replied so that their traders can be more comfortable…:)
For other brokers that have the same standard size as InstaForex, I currently do not know. If I find out, I will inform you in this section.