FXCM Differences
When IBFX sold their MT4 platform users to FXCM, it created a few changes to be aware of. These changes are not related to the MT4 platform, but the brokers themselves. There are 2 main differences between the currency brokers of FXCM and IBFX.
The first difference is that you are dealing with a standard account with FXCM. With IBFX, you had a choice of using a standard account or a mini account. Remember that in a standard account, 1 lot size is equal to $100,000 worth of currency. In a mini account, 1 lot size is 1/10th the size of a standard account. That means 1 mini lot size is equal to $10,000 worth of currency. With FXCM, as with IBFX, you can trade fractional lot sizes. By trading fractional lot sizes, you can trade like a mini account. A lot size of .1 on FXCM’s standard account will be the equivalent of trading 1 lot size on a mini account which is $10,000 worth of currency.
The other big difference is the margin requirements. With FXCM, refer to the table on the page referenced from this link: http://www.fxcm.com/products/forex/margin-requirements/. Scroll down the page to get to the table. FXCM lists a few things to keep in mind with the margin calculation. The table is based on 50:1 leverage or 2% margin for major pairs. The amounts listed in the table are based on a $1000 trade or .01 lot size. If you are trading $10,000 or .1 lot size, multiply the table amount by 10. The requirements are subject to change without notice but FXCM believes that changes will not occur more than once a month.
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