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Minimum deposit vs fx trading amount?


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Hi, can someone please help

The minimum deposit is £250, however the order tool is asking me to deposit a much larger amount to trade on the FX pairs. How much roughly is the minimum capital to trade on the FX pairs? I can't get through to the phone lines at IG! 

Would appreciate any advice

Thanks!

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3 hours ago, matt1234 said:

Hi, can someone please help

The minimum deposit is £250, however the order tool is asking me to deposit a much larger amount to trade on the FX pairs. How much roughly is the minimum capital to trade on the FX pairs? I can't get through to the phone lines at IG! 

Would appreciate any advice

Thanks!

If you are using spread betting, then it depends on the leverage ratio of the asset you are trading and the risk amount per point you are proposing to trade.

For example, a 50p per point trade on EURUSD requires £187.95 of margin, plus surplus in the account to cope with the trade going into a loss making position. 

So if you started with £250, made a trade on EURUSD for 50p per point. The trade goes against you and you start loosing. Unless you close the trade before your account is depleted to £187.95, you will get a margin call. That is a request to top up your account or IG will close the position for you.

At 50p per point and £250 in the account, if you set a stop loss of 20 points in each trade, you could loose 6 times in a row before you would get a margin call on your 7th trade.

Of course, as a retail trader, I think that you are protected by new regulation which means that IG will never let your account run into a negative amount.

 

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