I just created standard AND mini demo accounts on FXDD (because some customers were having difficulty running back tests) and learned some disturbing things...
- From what I can tell, the only difference between FXDD standard and mini accounts is the minimum deposit amount.
- The smallest trade you can place is 0.1 standard lots. On xxxUSD pairs that means 1pip=$1. To use the AME Cross Trader with $500 starting amount, you need 1pip=$0.10 minimum trade size. A factor of 10 difference!
My advice to anyone running the AME Cross Trader on FXDD is this...
- Start with at least $1000
- Set minTradeSize=0.1
- Set scaleDivisor=1000
Doing these things will let the EA run with the same level of effectiveness as a *true* mini account. There are just 2 main differences...
- Your initial risk is $1000 instead of $500
- The EA cannot scale trade sizes as effectively. For example, with $500 on InterbankFX, your trade size will grow from 0.05 to 0.06, 0.07, 0.08 standard lots, etc. each time your balance increases by $100. But on FXDD it will grow from 0.1, 0.2, 0.3 standard lots, etc. each time your account balance increases by $1000.
Anyway, I'm just putting this info on here so that you know what you are in for.
1 comment:
I just learned from one of my customers that FXDD will allow trades of 0.01 standard lots, but you need to contact them and request it. Otherwise, the default is 0.1 standard lots.
Thanks, Jeremy for the info!
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