Grand Capital, an offshore broker of forex and contracts for difference (CFDs), said on Tuesday it will set a new minimum trade volume requirement of 0.1 lot for Micro accounts. The new conditions will come into effect as of 1 December, 2016.
Previously opened trades with volume of less than 0.1 lot will remain unchanged.
Micro accounts, aka cent accounts, are handled the same way as any other account type with the exception that all their financial parameters, including deposits, profits and losses, are measured in cents. This type of account is suitable for novice traders or traders who want to test strategies in live trading.
Gain Capital’s Micro account is available at a minimum deposit of $10 via the MetaTrader 4 (MT4) or WebTrader platforms. In comparison, a Standard account can be opened with at least $100.
Gain Capital offers the following types of trading accounts – Micro, Standard, ECN, Swap Free, and Options (for binary options).
Grand Capital is based and incorporated in the Seychelles and has offices across Europe and Asia. It provides financial, educational and brokerage services and offers trading in forex, binary options and contracts for difference (CFDs) on stocks, gold, oil, lumber and forex instruments.